by See the companies making headlines before the bell. Bank of America – Shares rose 1% after third-quarter earnings and revenue beat Wall Street analysts’ estimates. Profit came in at 81 cents, beating the 77 cents expected by analysts polled by LSEG. Revenues came in at $25.5 billion, compared to the consensus estimate of $25.3 billion. Johnson & Johnson – The healthcare conglomerate saw its shares rise slightly premarket after quarterly results beat expectations thanks to strong sales of oncology drugs. J&J also raised its forward-looking financial guidance for earnings and sales for the full year 2024. Goldman Sachs — Shares of the investment bank jumped more than 2% on better quarterly earnings than expected. Goldman Sachs reported earnings per share of $8.40 on revenue of $12.70 billion. Analysts surveyed by LSEG had forecast earnings per share of $6.89 on revenue of $11.80 billion. Goldman’s trading and investment banking segments boosted results. UnitedHealth Group — The healthcare sector’s stock fell 3.2% despite a top and bottom line in the third quarter. The company lowered its earnings forecast due to continued headwinds resulting from a cyberattack earlier in the year. UnitedHealth lowered the top end of its full-year earnings forecast to $27.50 to $27.75 per share from $27.50 to $28 per share previously. Walgreens Boots Alliance — The retail pharmacy chain jumped 5% after fourth-quarter sales and profits beat analysts’ expectations. Walgreens also announced plans to close about 1,200 stores over the next three years, which it said should increase its adjusted profit and free cash flow and help reduce costs. Citigroup — Shares of the Jane Fraser-led bank rose 1.7% after third-quarter earnings and revenue beat consensus estimates. Citigroup reported earnings per share of $1.51 on revenue of $20.32 billion, while analysts polled by LSEG expected earnings per share of $1.31 on revenue of $19.48 billion. PNC Financial — The Pittsburgh-based regional bank added 0.8% premarket. PNC reported earnings per share of $3.49, beating estimates of $3.30 per share, according to analysts surveyed by LSEG. Revenue of $5.43 billion also beat forecasts of $5.39 billion. Etsy — Shares fell more than 5% after Goldman Sachs downgraded the online market to neutral from neutral. The investment bank highlighted the risk of profit margin compression and continued market share losses. Coty – Shares fell 4% after the beauty company warned of a slowdown in the U.S. market in its preliminary first-quarter financial results. Coty now expects comparable sales to grow between 4% and 5%, down from previous forecasts of 6% growth. Charles Schwab — The brokerage jumped more than 7% after third-quarter results beat analysts’ estimates. Charles Schwab reported earnings per share of 77 cents excluding special items, on revenue of $4.85 billion. Analysts had estimated LSEG earnings per share of 75 cents and revenue of $4.78 billion. Revenue increased 5% from the previous quarter thanks to continued investor engagement. The firm’s wealth advisory division has seen record capital inflows since the start of the year. Enphase Energy — Shares fell 1.8% after RBC Capital Markets downgraded the maker of solar microinverters and electric vehicle charging stations from sector outperform to sector perform , expecting a “slower pace of growth next year, not reflected in current consensus estimates.” Enphase, which also makes battery storage units, is down more than 20% this year. — CNBC’s Yun Li, Michelle Fox, Samantha Subin, Sarah Min and Pia Singh contributed reporting
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