Check out which companies are making headlines in pre-market trading. JPMorgan – The bank fell 2.4% despite beating expectations on both lines and reporting lower-than-expected credit costs. However, the bank said net interest income, a key measure of what it makes through lending activities, may be somewhat lower than Wall Street analysts expect in 2024. CEO Jamie Dimon also warned of persistent inflationary pressures weighing on the economy. Wells Fargo – Wells Fargo shares fluctuated after announcing first-quarter earnings, but were recently up less than 1%. The bank beat Wall Street expectations on both the top and bottom lines, but reported a decline in net interest income. Citigroup — Shares rose more than 2% after the bank reported revenue of $21.1 billion, higher than analysts' expectations of $20.4 billion, according to LSEG, formerly known as Refinitiv. BlackRock – The investment manager advanced 2% on the heels of a better-than-expected quarterly report. BlackRock saw earnings of $9.81 per share, excluding items, on revenue of $4.73 billion, while analysts polled by LSEG expected $9.35 earnings per share and $4.68 billion in revenue. Globe Life – The insurer jumped about 9% during extended trading on Friday, rebounding after falling more than 50% in the previous session. Thursday's selling followed a report from short seller Fuzzy Panda Research, in which the company alleged several insurance frauds and said it had taken a short position in the stock. Paramount – Shares fell about 1% after the media company proposed hiring seven directors, down from 11. This comes amid reports that Paramount is in merger talks with Skydance. Mobileye – Shares rose 2% after Wolfe Research upgraded the self-driving vehicle technology company to outperform its peers and said that after a sharp decline at the start of the year, much of the downside risk is behind it. GitLab – Shares rose 2.5% after upgrade to outperform market at Raymond James. The company sees lasting growth and improvement in the profitability of the software company in the future. Corteva – Shares fell 2.6% following JPMorgan downgrading its credit rating to Neutral from Overweight. JPMorgan said the agrichemical company's shares did not look attractive ahead of first-quarter earnings. Ciena – Shares fell 1.3% after Citi initiated coverage on the stock with a sell rating, saying the AI opportunity for the networking systems company is further away than investors expect. The company's $44 target represents a roughly 7% decline for the stock compared to Thursday's close of $47.10. CNBC's Tanaya Machel, Samantha Sobin, Sarah Min and Michelle Fox contributed reporting.
