Before the session, FedEx shares rose 11.6% in pre-market trading after the company’s fiscal third quarter results beat analysts’ expectations. FedEx reported adjusted earnings of $3.41 per share, beating Refinitiv consensus forecasts of $2.73 per share. The company also raised its full-year earnings forecast.
Per Credit Suisse, the Swiss bank’s US-traded shares fell 4.1% during pre-market trading. The stock of Nvidia chips
gained more than 2%, following an upgrade to overweight by Morgan Stanley. The Wall Street firm cited continued benefits from the growing push towards artificial intelligence.
Shares of First Republic Bank fell 13.3% in the premarket. Shares were up nearly 10% on Thursday as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in First Republic. Shares of Zions Bancorp, Comerica and KeyCorp, which are among the regional banks affected this week, fell 2.7%, 1.3% and 1.6%, respectively.
Finally, shares of media firm Warner Bros Discovery jumped 4.2% after Wolfe Research bumped the rating to outperform. The company expects shares of Warner Bros. Discovery to rally more than 40% in the coming months. Wells Fargo also raised the title to overweight from equal weight.