Stocks making the biggest moves premarket: Bank of America, Morgan Stanley, ASML, Papa John’s and more

Premarket Movers: Bank Earnings, Trump Trade Threats Drive Early Market Action

Financial Giants Lead Premarket Surge

Bank of America shares climbed 4.5% in premarket trading after the Brian Moynihan-led institution delivered stronger-than-expected quarterly results. The banking giant reported earnings of $1.06 per share on revenue of $28.24 billion, comfortably beating the LSEG consensus estimates of 95 cents per share on $27.5 billion in revenue. The impressive performance was largely driven by a resurgence in investment banking revenue, signaling renewed corporate activity across markets.

Morgan Stanley joined the banking rally with an even more dramatic earnings beat, posting results that exceeded expectations by the widest margin in five years. The Wall Street investment bank’s shares advanced 4% after reporting $2.80 per share in earnings versus the $2.10 LSEG consensus estimate, while revenue of $18.22 billion significantly outpaced the $16.70 billion analyst forecast. The strong banking results come amid a broader reassessment of financial sector prospects, with investors closely monitoring pre-market movers and bank earnings for signals about the health of the U.S. economy.

Agricultural Stocks React to Trade Policy Shifts

Global agriculture businesses Archer-Daniels-Midland and Bunge Global saw significant premarket gains of 2.4% and 5.5% respectively following former President Donald Trump’s threat to embargo cooking oil from China. The proposed trade action represents retaliation for Beijing’s refusal to purchase U.S. soybeans, potentially reshaping global agricultural commodity flows and benefiting American producers. This development highlights how technology adoption in supply chains continues to evolve alongside shifting trade relationships.

Mixed Results Across Healthcare and Regional Banking

Abbott Laboratories faced headwinds in premarket trading, with shares declining 2.8% after the global healthcare company reported third-quarter revenue of $11.37 billion that fell just short of the $11.40 billion expected by LSEG-polled analysts. The medical device and nutrition giant continues to navigate post-pandemic market normalization across its diverse business segments.

Regional banks presented a mixed picture, with PNC Financial Services falling 2% despite reporting better-than-expected third-quarter results. The Pittsburgh-based institution earned $4.35 per share versus the $4.05 FactSet consensus estimate, while revenue of $5.92 billion substantially exceeded the $4.583 billion analyst forecast. Meanwhile, Citizens Financial rallied 3% after beating estimates with $1.05 per share earnings on $2.12 billion revenue, outperforming the $1.03 and $2.10 billion expected by LSEG analysts.

Technology and Semiconductor Momentum

ASML’s U.S.-listed shares surged 4.6% after the semiconductor equipment manufacturer provided optimistic forward guidance, indicating it expects 2026 total net sales to exceed 2025 levels. The projection comes despite mixed third-quarter results, suggesting confidence in the ongoing semiconductor recovery cycle. This optimism aligns with broader industry trends where massive AI capital expenditure spending continues to drive semiconductor equipment demand.

Corporate Actions and Strategic Shifts

Papa John’s International led premarket gainers with an impressive 11% jump following a Reuters report that Apollo Global Management has submitted a new bid to take the pizza chain private at $64 per share. The potential acquisition represents a significant premium and reflects ongoing private equity interest in restaurant chains with strong brand recognition.

Grindr shares advanced 4.3% after the dating app company, which went public in early 2021, disclosed it received a letter from large shareholders who also serve as board members proposing to take the company private. Grindr’s Board of Directors will establish a special committee to evaluate the proposal, potentially joining other technology companies reconsidering their public market status.

Energy and Consumer Sector Developments

Sable Offshore experienced dramatic selling pressure, with shares plunging 24% after a California judge sided with the state against the oil and gas company in a dispute involving the Santa Ynez project. The company had expressed disagreement with the tentative ruling on Wednesday, highlighting the regulatory challenges facing energy developers even as renewable energy regulations strengthen globally.

Sunrun surged nearly 4% after BMO Capital Markets upgraded the rooftop solar panel maker from underperform to market perform and substantially increased its price target to $19 from $10, according to FactSet. Despite the upgrade, the new target still implies approximately 8% downside from Tuesday’s closing price of $20.68, reflecting the challenging environment for residential solar companies.

Financial Services and Retail Outlook

Synchrony Financial slipped 1% after the consumer finance provider lowered the top end of its annual guidance. The company now expects 2025 net revenue of $15 billion to $15.1 billion compared to prior guidance of $15 billion to $15.3 billion. The revision came despite third-quarter earnings that exceeded expectations, suggesting management is taking a more cautious view of the consumer lending environment.

Dollar Tree jumped 8% after the discount retailer projected earnings per share would increase by a “high-teens percentage” in fiscal 2026. The guidance exceeds the approximately 15% EPS growth analysts currently expect for next year, according to FactSet. The positive outlook comes as the company prepares to host its investor day Wednesday, where management will likely detail strategies for navigating evolving consumer spending patterns and broader market conditions influenced by Federal Reserve policy.

Regulatory and AI Safety Considerations

Beyond immediate market moves, investors are monitoring broader regulatory developments, including how AI safety principles from leading companies are attracting White House attention. These policy considerations could have significant implications for technology companies developing artificial intelligence systems, particularly as regulatory frameworks continue to evolve alongside rapid technological advancement.

First Horizon rounded out the regional bank movers with a 3.4% rally following its latest earnings beat. The Memphis-based institution reported adjusted earnings of 51 cents versus the 45 cents estimated by FactSet-polled analysts, with net interest income also exceeding expectations. The results suggest regional banks continue to benefit from the higher interest rate environment despite concerns about economic headwinds.

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