Stocks making the biggest moves premarket: WFC, BAC, NFLX
Check out the companies making headlines before the bell. Trip.com — The company’s stock plunged 13% after Reuters reported that Chinese market regulators are investigating the travel website. Netflix — Shares rose nearly 2%. Netflix is preparing an all-cash $72 billion bid for Warner Bros. Discovery’s studios and HBO Max, The Wall Street Journal reported , citing sources familiar with the matter. Cybersecurity stocks — The group of names is trading down after Reuters reported that Chinese authorities ordered domestic companies to cease using U.S. and Israel-linked security software. Palto Alto Networks and Check Point Software fell 3%, while Fortinet sank 4%. Wells Fargo — Shares fell around 1% after the bank reported weaker-than-expected revenue for the fourth quarter. The company’s top line came in at $21.29 billion, below an LSEG estimate of $21.65 billion. Net interest income of $12.3 billion was also below estimates. Bank of America — The bank rose more than 1% after it reported better-than-expected results for the fourth quarter. The company earned 98 cents per share on revenue of $28.53 billion. Analysts expected a profit of 96 cents per share on revenue of $27.94 billion. Stronger-than-anticipated net interest income drove the earnings beat. — CNBC’s Fred Imbert contributed reporting
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