Stocks Making The Biggest Premarket Moves: Carvana, Joby Aviation, Goldman Sachs, Interactive Brokers And More

Here are the pre-market updates on some noteworthy companies:

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Carvana: The online auto retailer, Carvana, saw its shares rise by 16% after reaching an agreement with noteholders to reduce its total debt outstanding by more than $1.2 billion.

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Interactive Brokers: Shares of Interactive Brokers dropped 5% as the company's earnings fell short of estimates. The second-quarter adjusted earnings per share were reported at $1.32, lower than the analysts' expected $1.40, according to Refinitiv.

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Omnicom: Global marketing company Omnicom witnessed a 6% decrease in its stock value as its revenue missed estimates for the second quarter. Omnicom's revenue came in at $3.61 billion, falling short of the consensus forecast of $3.67 billion from FactSet. However, it narrowly beat earnings expectations with adjusted earnings of $1.81 per share, slightly higher than the expected $1.80 per share.

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Goldman Sachs: The bank's stock declined by 0.3% after missing expectations in its second-quarter earnings. Goldman Sachs reported earnings of $3.08 per share, which was lower than the Refinitiv forecast of $3.18 per share. However, its revenue of $10.9 billion was slightly above the expected $10.84 billion.

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Joby Aviation: The electric aircraft company experienced a 6.3% decline in premarket trading after being downgraded by JPMorgan from neutral to underweight. JPMorgan expressed concerns that Joby's recent rally was likely overblown, possibly influenced by short covering. Year to date, the company's shares have risen by 200%.

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Cinemark: Shares of the movie theatre chain fell by 3.3% after JPMorgan downgraded it from overweight to neutral. The downgrade was attributed to the potential impact of the actors' strike in Hollywood.

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J.B. Hunt Transport Services: The transportation and logistics company saw a 2.2% decline after posting disappointing quarterly results. J.B. Hunt reported second-quarter earnings of $1.81 per share on revenue of $3.13 billion. This fell short of the Refinitiv consensus, which expected per-share earnings of $1.92 on revenue of $3.31 billion.

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Western Alliance Bancorporation: The regional bank's shares dipped 2.4% following its mixed second-quarter earnings results. The company reported earnings of $1.96 per share and revenue of $669 million. Analysts had estimated earnings of $1.98 per share and revenue of $652 million. However, the bank did report an increase in deposits during the quarter.

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U.S. Bancorp: Shares of the large regional bank declined by 1% after U.S. Bancorp reported its second-quarter results. The bank reported adjusted earnings per share of $1.12 on revenue of $7.14 billion. Analysts had expected $1.12 in earnings per share on $7.16 billion of revenue, according to Refinitiv.

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Nasdaq: The stock of Nasdaq rose by 0.3% after surpassing profit and sales expectations in its second-quarter results. Nasdaq posted adjusted earnings of 71 cents per share on revenue of $925 million, beating the analysts' consensus of 66 cents per share on revenue of $914.9 million, according to Refinitiv.

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