Pre-Market Trading: United Airlines, Moderna, IBM and More Showing Significant Movement

United Airlines Saw a 3.5% Increase In Their Stock After the Company Reported Their Fourth Quarter Earnings That Exceeded the Expectations Of Wall Street.

The airline reported an adjusted earnings per share of $2.46 on $12.4 billion in revenue, which was higher than the predicted $2.10 and $12.2 billion in revenue from Refinitiv.

Moderna saw a 7.5% increase in their stock after announcing the results of a clinical trial for their RSV vaccine. The trial showed that the vaccine was 84% effective in preventing disease in older adults, and there were no safety concerns. The vaccine utilizes the same messenger RNA technology as the Moderna Covid-19 vaccine.
Prior to the opening bell, IBM's stock dropped by approximately 2% after Morgan Stanley lowered its rating from overweight to equal weight and expressed worries about a decrease in revenue growth.

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J.B. Hunt Transport Services saw their stock drop by more than 1% after their fourth-quarter results failed to meet analysts' expectations. According to StreetAccount, analysts had predicted adjusted earnings of $2.44 per share and revenues of $3.81 billion, but J.B. Hunt only reported earnings of $1.92 and revenues of $3.65 billion.
PNC Financial, a regional bank, experienced a drop of more than 4% after their fourth quarter results failed to meet the expectations of Wall Street. The bank reported $3.49 in adjusted earnings per share on $3.68 billion of revenue, while analysts surveyed by StreetAccount had predicted $3.95 per share on $3.74 billion of revenue.

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Shares of Interactive Brokers rose 2.5% after the brokerage reported strong financial results for its most recent quarter. Earnings per share came in at $1.30, surpassing the estimated $1.17 per share, as reported by StreetAccount. Additionally, adjusted net revenue of $958 million was higher than the estimated $924.2 million.
Levi Strauss, the clothing company, experienced a 1.7% decrease in stock after Bank of America downgraded their rating from buy to neutral. The financial institution expressed their belief that the company's earnings per share for the first half of the year could be 20% lower than expected and that there is no guarantee that denim demand will increase in the second half.

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Shares of Oatly saw a 6.7% increase in value after Mizuho analysts upgraded the stock, citing improved liquidity. The firm also noted that the company should be able to benefit from the steady demand for plant-based beverages, despite a challenging 2022.

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Shares of Yeti dropped 1.7% after Cowen lowered their rating of the cooler company from an outperform to a market perform. The downgrade was due to the potential risks to the expected growth of the company.

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Shares of Skechers dropped 2.1% after Morgan Stanley changed their rating of the company from overweight to equal weight. The bank noted that the stock of the footwear company is trading near the upper end of its usual valuation range.

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Shares of GoDaddy rose by approximately 4% after Evercore ISI upgraded the stock to outperform. Analysts believe that the company's business model will remain strong even in the event of an economic downturn.