Check out the companies making headlines before the bell. Goldman Sachs — Goldman Sachs shares rose 3.3% in premarket trading after the company beat Wall Street’s first-quarter profit estimates. Goldman posted earnings of $11.58 per share on revenue of $14.21 billion in the period, driven by its trading and investment banking activities. Meanwhile, analysts surveyed by LSEG expected earnings of $8.56 per share and revenue of $12.92 billion. Logitech — Shares fell about 2% after Morgan Stanley downgraded the computer peripherals stock to underweight. Analyst Eric Woodring believes the market has “mispriced” Logitech’s prospects, predicting annual sales growth of just 3% through fiscal 2027. Masimo — Healthtech shares rose more than 2% after Stifel was upgraded from hold to buy. Analyst Rick Wise said there is “room for the stock to rise further” as the bank improves its performance and expands its gross profit. Salesforce — Shares fell nearly 3% in premarket trading after reports from the Wall Street Journal and Reuters that the software company was in talks to acquire data management company Informatica. Medical Properties Trust — Stocks soar after the real estate investment trust announced it is selling a majority interest in five of his hospitals in Utah to a new joint venture, giving him a total valuation of $886 million. soared 14%. Coupang — The South Korea-based e-commerce company rose 2% after Citi upgraded it to buy from neutral. The bank believes there is still room for Coupang to expand its margins by increasing subscription prices, and expects little customer pushback due to its strong delivery service. Lockheed Martin — The aerospace and defense stock rose nearly 2% after JPMorgan upgraded the stock to overweight. Although the stock has underperformed this year, the bank expects the outlook to improve going forward as the company receives additional funding due to geopolitical events overseas. Cisco Systems — Shares of the tech giant rose 2% after Bank of America was upgraded to Buy from Neutral. Analyst Tal Riani believes the stock has upside potential, citing expected growth in the security and networking space, as well as Cisco’s recent acquisition of Splunk. Coty — Shares rose 1.3% after Canaccord Genuity initiated coverage of a buy rating on the beauty products company. The company said Coty has significant growth opportunities and a strong brand that will maintain consumer interest. Charles Schwab — The online brokerage fell 1% after mixed first-quarter results. Mr. Schwab’s income was 74 cents, matching LSEG’s estimate. Revenue came in at $4.74 billion, slightly above the consensus estimate of $4.71 billion. Snap One, Resideo Technologies — Snap One stock soared 30% after the provider of smart living products announced it would be acquired by home automation company Resideo Technologies for his $10.75 per share in cash. The transaction is valued at approximately $1.4 billion, including net debt. Resideo stock rose 5%. TESLA — The electric car maker’s stock fell 1% after an internal memo cited by Reuters showed Tesla plans to lay off more than 10% of its global workforce. . “As we prepare the company for its next phase of growth, we are looking at every aspect of the company to reduce costs and improve productivity,” Tesla CEO Elon Musk said in a memo. That is very important.” —CNBC’s Brian Evans, Michelle Fox, Sarah Ming and Pia Singh contributed reporting.
Stocks with the biggest moves pre-market: GS, SNPO, CRM
