Shares of JPMorgan Chase sunk 3.49% and hit a 52-week low after the bank reported quarterly earnings
CEO Jamie Dimon said that high inflation, waning consumer confidence and geopolitical tension are likely to hurt the global economy in future.
Goldman Sachs – Shares fell 2.95% following disappointing earnings from JPMorgan and Morgan Stanley.
Conagra Brands – The food stock sank 7.25% after Conagra’s quarterly results revealed the company’s sales volume declined.
First Republic Bank — Shares rose 1.77% after the bank reported earnings that surpassed expectations on the top and bottom lines.
First Republic Bank posted earnings of $2.16 per share on revenue of $1.5 billion. Analysts were expecting earnings of $2.09 per share on revenue of $1.47 billion
Cisco Shares fell nearly 1% after JPMorgan downgraded the stock to neutral from outperform. The bank also recommended investors rotate into a “more diversified supplier”.
Shares of retailer Costco jumped 4% after Deutsche Bank upgraded the stock to buy and increasing its price target to $575 from $525.