Friday's Pre-Market Movers: Key Stocks to Watch

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•  18 Oct 2024
 

Heading into the weekend, several big names are making noise in the pre-market, with some major developments across earnings and business moves catching investor eyes. Here’s the lowdown on the stocks making waves right now and what could be in store for them.

Regions Financial $RF had a so-so third-quarter showing. While earnings slightly missed expectations, they delivered a pleasant surprise on revenue, coming in $60 million above estimates at $1.87 billion. The stock’s seen a nice boost despite the earnings miss, largely thanks to its strong revenue performance. Investors will want to watch for how things shape up with future guidance as the banking landscape evolves.

Fifth Third Bancorp $FITB isn’t having the best day. The bank missed profit expectations, and shares dipped about 3% in pre-market trading. However, despite the earnings miss, this stock recently crossed its 12-month price target, showing some resilience. Investors with an eye on the long game might see some opportunity here if the fundamentals improve in upcoming quarters.

Netflix $NFLX is riding high, with shares up 5% pre-market thanks to a strong third-quarter earnings beat. The big news? A 35% spike in its ad-supported membership tier. While growing the ad business still poses challenges, Netflix’s ability to keep boosting revenue and maintain global membership growth provides a solid foundation. With its focus on non-English content paying off, investors are optimistic about future price hikes.

Schlumberger $SLB turned in a solid quarter, with profits on the rise compared to last year. The energy giant is also shaking things up, selling off its Palliser Block interests, which could unlock more shareholder value. As Schlumberger continues to post solid earnings and strategically realign, it’ll be a name to keep an eye on in the broader energy landscape.

American Express $AXP reported another earnings beat, but revenue came up just short. The big win here is AXP raising its full-year EPS guidance, which should fuel some confidence as we head into the final quarter. Provisions for credit losses crept up by 10% year-over-year, so that’s a red flag to monitor. For now, though, that guidance boost is a bullish sign.

Novartis $NVS is making headlines after receiving a positive nod from the European Medicines Agency for its Kisqali breast cancer treatment. This development strengthens Novartis’ growing oncology portfolio, and investors are likely to bet on future revenue growth as its pharmaceutical business gains momentum.

Intuitive Surgical $ISRG is having a stellar pre-market, with shares up around 7% after solid earnings and the exciting announcement of its Da Vinci 5 Robot coming in 2025. The combo of strong earnings and technological advancements puts Intuitive in a prime spot, with plenty of buzz around its dominance in the robotic surgery field.

Comerica $CMA managed to beat Wall Street estimates, despite a dip in third-quarter profit. Even with earnings down compared to last year, the bank’s better-than-expected numbers suggest it’s holding up better than most in this tough economic environment. It’s one to watch as we move forward, especially if Comerica continues to outperform.

Ally Financial $ALLY posted a surprisingly solid third quarter, with net income up from last year. Shares are moving higher in pre-market trading, as Ally seems to be navigating economic uncertainty pretty well. With interest rate volatility ahead, how Ally weathers the next few quarters will be key, but for now, it’s looking strong.

With Friday's action heating up, these movers are setting the tone for a bullish close to the week. Keep your eye on these stocks as they drive momentum into the weekend.