© Reuters
Investing.com — U.S. traded largely unchanged Wednesday, consolidating after recent strong gains as investors digest a deluge of important corporate earnings.
Here are some of the biggest premarket U.S. stock movers today:
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Goldman Sachs (NYSE:) stock fell 0.2% after the investment bank’s profit fell as it took a $504 million writedown tied to its GreenSky business, while the investment banking business took a hit from lower dealmaking volumes.
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Microsoft (NASDAQ:) stock rose 0.6%, continuing to climb after hitting an all-time high during the previous session following the tech giant’s announcement it would charge more to access new artificial intelligence features in its Office software.
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Johnson & Johnson (NYSE:) stock fell 1.4% after the drug maker sued the U.S. government in a bid to halt Medicare drug price negotiations. It must also pay $18.8 million to a man in California who said he developed cancer from exposure to its baby powder, a setback as it seeks to settle thousands of similar cases.
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Carvana (NYSE:) stock rose 24% after the used-car retailer the best quarter in its history and entered a deal with noteholders to cut debt by $1.2 billion.
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Nasdaq (NASDAQ:) stock rose 0.5% after the exchange operator beat profit expectations on the back of consistent demand for its investment-related products and capital markets solutions.
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M&T Bank (NYSE:) stock rose 4.3% after the lender beat profit estimates as the Fed’s rapid rate hikes to tame inflation boosted the lender’s interest income.
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Joby Aviation (NYSE:) stock fell 6.4% after JPMorgan downgraded the electric aircraft manufacturer to ‘underweight’ from ‘neutral’, calling the stock’s recent outperformance “largely overblown”.
