Continental Resources, Bank of America, Apple and others

News Update - Pre-Markets

Check out the companies making headlines before the bell:

Continental Resources (CLR) — Chairman and founder Harold Hamm and his family will purchase the energy producer’s shares they don’t already own for $74.28 per share. The transaction is not dependent on financing and is expected to close before the end of the year. Continental gained 8.6% in premarket trading.

Bank of America (BAC) – Bank of America rose 3.1% in premarket trading after beating revenue and earnings estimates in its third-quarter earnings report. Earnings were boosted by an increase in net interest income.

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Bank of New York Mellon (BK) – The bank’s shares gained 4.4% premarket after better-than-expected third-quarter results. Net interest income rose 44% year over year for the quarter.

News Corp. (NWSA), Fox Corp. (FOXA) – News Corp. Stocks up 3.5% premarket as Fox Corp. fell by 4.1%. Rupert Murdoch’s media companies both formed special committees to consider reuniting the two media companies that split in 2013.

Apple (AAPL) – Apple gained 1.4% premarket after Morgan Stanley called it a “top pick” for its ability to weather an economic downturn.

meta platforms (META) – Meta is missing its targets for its flagship Metaverse product, Horizon Worlds, according to internal documents seen by The Wall Street Journal. The product has fewer than 200,000 monthly active users, compared to an original target of 500,000 by the end of this year and a revised year-end target of 280,000. Meta is up 1.6% in premarket trading.

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Goldman Sachs (GS) – Goldman plans to combine its various businesses into three as part of a major restructuring, according to people familiar with the matter who spoke to The Wall Street Journal. One unit will house investment banking and trading, wealth management in another, and transaction banking in a third division. Goldman is up 1% in premarket trading.

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splunk (SPLK) – Splunk rose 9.1% premarket after The Wall Street Journal reported that activist investor Starboard Value owns nearly 5% of the software company.

archaea energy (LFG) – Shares of the natural gas producer rose 51.1% in premarket trading after the acquisition was approved bp (BP) for $26 per share. BP rose 2.2%.

CreditSuisse (CS) – Credit Suisse gained 3.2% premarket after the Financial Times reported that the company is ready to sell parts of its Swiss bank to raise capital.

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