Morgan Stanley, Citigroup, Plug Power: What to Watch When the Stock Market Opens Today

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U.S. stock futures rose amid a wave of earnings reports, including from major banks. Here’s what we’re watching before Thursday’s opening bell.

  • Major banks including Morgan Stanley MS 0.81% and Citigroup C -0.54% are scheduled to report earnings before the open.
  • Wells Fargo WFC -1.29% shares added 1% premarket after the bank reported a 59% rise in profit in the third quarter, boosted by a release of funds it had set aside for potential loan losses during the pandemic. Its revenue slipped 2% but still came above analysts’ estimates.
  • Bank of America BAC -0.92% rose 2.8% after reporting earnings per share that beat analysts’ estimates. The bank released $1.1 billion of its reserve in the third quarter, citing asset quality improvements.
  • UnitedHealth UNH 0.08% climbed 2.6% after raising its full-year guidance for earnings. It said its revenue growth was driven by higher insurance memberships.
  • Walgreens Boots Alliance WBA -0.34% rose 2.4%. The pharmacy chain posted a profit jump and earnings per share that came above Wall Street’s estimates.
  • Shares of United Parcel Service UPS 1.14% rose 2.5% premarket. An equity research analyst at Stifel raised their price target and rating on the stock.
  • Fuel-cell company Plug Power PLUG 12.79% added 3.1%, extending Wednesday’s rally. The fuel-cell company said it would work with Airbus EADSY 0.40% to study the feasibility of bringing green hydrogen to aircraft and airports.

A Plug Power hydrogen delivery truck.

Photo: Plug Power

  • Lordstown Motors RIDE 2.15% gained 2.7% premarket. The electric-truck startup hired a new finance chief in the wake of its recent liquidity problems.
  • Online furniture retailer Wayfair W 0.51% slipped 3% following downgrades by equity research analysts at Jefferies and Morgan Stanley. The stock is down 2.8% this week so far.
  • Aluminum producer Alcoa AA 1.30% ‘s shares added 2.7% premarket, as aluminum prices climbed. The company is also scheduled to report earnings after markets close.
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