2023-04-14 09:11:47 ET
With uncertainty creeping back into the market after wholesale inflation data sparked a stock rally the day before, the futures pointed to a mixed open in Friday's premarket trading. Investors digested quarterly results from a handful of major players in the financial industry, representing the first wave of results for the coming quarterly earnings season. Here are some stocks to watch on Friday:
- JPMorgan Chase ( NYSE: JPM ) rose almost 6% in premarket trading after the company issued its Q1 results. The banking giant topped projections with its earnings and revenue figure. Meanwhile, the company raised its net interest income outlook for the full year.
- Earnings news also gave a premarket boost to Wells Fargo ( WFC ). The financial powerhouse exceeded projections with its Q1 results , with revenue that surged 18% from last year to reach $20.7B. Bolstered by the better-than-expected figures, WFC rose 3% before the opening bell.
- BlackRock ( BLK ) reported a Q1 non-GAAP EPS of $7.93, rising 17% from last year on an adjusted basis and topping projections by $0.20. Revenue slumped 10% to reach $4.24B. The investing behemoth revealed assets under management of $9.09T.
- UnitedHealth ( UNH ) reported Q1 results that beat expectations, with adjusted EPS that rose 14% from last year and revenues that climbed 15% to $91.9B. The provider of health care benefits also raised its 2023 EPS forecast.
Turning away from the stock market, Seeking Alpha contributor The Digital Trend has expressed skepticism about the recent upswing in cryptocurrencies, saying that "Bitcoin may have struck a long-term bottom, but at the very least, I expect a substantial correction in the next few months ."
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4 stocks to watch on Friday: JPMorgan, Wells Fargo and more