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Today’s Stocks to Watch: J&J, Boeing, and Goldman Sachs

October 15, 2024 OnEquity

Key points:

  • A number of energy stocks and Chinese companies posted significant market declines.
  • Boeing and Goldman Sachs shares posted notable gains.
  • UnitedHealth and J&J readjusted their earnings forecasts due to external factors.

Boeing Aims to Raise $10 Billion

Boeing (BA) plans to raise at least $10 billion through the sale of new shares. This strategy aims to stabilize its finances after a period of instability. Shares rose nearly 1% in after-hours trading.

Goldman Sachs Reports a 45% Increase in Profits

Goldman Sachs (GS) announced a 45% increase in quarterly earnings, exceeding market expectations. Stocks were up more than 3% in pre-market trading.

Bank of America Beats Expectations Despite Profit Decline

Bank of America (BAC) posted a decline in quarterly earnings, despite beating expectations. The stock was up nearly 2% in pre-market trading.

UnitedHealth Revises Profit Forecast Following Cyberattack

UnitedHealth (UNH) lowered its earnings expectations due to ongoing disruptions caused by a cyberattack. Stocks were down more than 3% in after-hours trading.

Johnson & Johnson Posts Profit but Cuts Annual Outlook

Johnson & Johnson (JNJ) reported better-than-expected quarterly sales and earnings but reduced its annual profit forecast. Stocks were down about 1% in after-hours trading.

Walgreens Boots Alliance Confirms Adjusted Earnings

Walgreens Boots Alliance (WBA) reported a quarterly loss of $3 billion despite beating adjusted profit and sales forecasts. Stocks rebounded more than 5% in pre-market trading.

Chinese Companies Fall as Beijing Reduces Stimulus

Stocks of U.S.-listed Alibaba (BABA), PDD (PDD), and NIO (NIO) declined in pre-market trading, attributed to cooling interest in Beijing’s economic stimulus efforts.

Trump Media & Technology Rebounds After Recent Gains

Stocks of Trump Media & Technology (DJT), parent company of Truth Social, rose in pre-market trading following an 18% gain on Monday. The rise is tied to the perception that Donald Trump holds a slight edge in the election, as well as a recovery from recent losses.

Energy Companies Retreat on Falling Oil Prices

Stocks of Occidental Petroleum (OXY) and Diamondback Energy (FANG) were down in pre-market trading due to lower oil prices. Hopes are rising that Israel’s planned attack on Iran will not impact nuclear or oil facilities.

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