Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

PRE-MARKET MOVERS: Bank of America Corp shares higher, BlackRock Inc down and Arconic Inc higher on takeover speculation

Also in the frame in pre-market deals is Deutshe Bank and its surprise quarterly result

Wall Street is seen starting higher as earnings season continues.

Big bank earns are still in play and Bank of America Corp (NYSE:BAC) shares added over 1% to US$28.84 after its second quarter numbers beat on profit and revenue.

Profit came in 33% higher from last year at US$6.8bn, beating the US$5.92bn pencilled in by analysts.

The revenue was US$22.6bn, compared to the US$22.3bn estimate.

Management said it was the 14th straight quarter the firm posted positive operating leverage.

Sticking to the big financial kickers and asset management titan BlackRock Inc (NYSE:BLK) went the other way, and shares eased 1% to US$502.01.

Net income attributable to the company rose to US$1.07bn in the second quarter to end June, from US$854mln a year earlier.

Not including exceptionals, the group earned US$6.66 a share, where analysts had expected US$6.55.

The big surprise of the morning however, belonged to under pressure German banking giant Deutsche (ETR:DBK)

Deutsche Bank soars on second-quarter profit forecast https://t.co/bxRao1fzRT pic.twitter.com/Nt43ktR25q

— Bloomberg Markets (@markets) 16 July 2018

It revealed that it had had a second quarter, which was much stronger than analysts had expected.

Deutsche, which has been losing money for years, said that pre-tax profit for the three months would reach €700 million ($820 million) -up 62% on the previous quarter.

Also in before the bell trade, aeronautics parts firm Arconic Inc (NYSE:ARNC) was up 0.46% to US$17.38 before the New York bell.

It comes amid speculation that the company could be taken over by private-equity group Apollo Global Management.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK