Stocks making the biggest moves in the premarket: JPMorgan, Virgin Galactic, Tesla and more

Check out the companies making the biggest moves in the premarket:

JP Morgan – Bank reported Fourth Quarter Earnings and Revenue That topped Wall Street expectations before the bell. However, it said the mild slowdown is now a “central issue”. JP Morgan slipped nearly 3% in parmarket trading.

Lockheed Martin – Goldman Sachs Defense contractor demoted to Sell from Neutral and reduce its price target from $56 to $332. The Wall Street firm noted that the company is sensitive to any changes in the government budget. Lockheed Martin fell more than 3% in the premarket.

Virgin Galactic Holdings — The space tourism company soared nearly 16% after being on track for a commercial launch in the second quarter of 2023.

Wells Fargo – The bank slid nearly 4% after the report shrinking profitsWeighted by a recent settlement and the need to build up reserves.

Delta Airlines – airline Reported fourth quarter profit and revenue Before the bell defying expectations. Its adjusted earnings per share came in at $1.48 versus the Refinitiv estimate of $1.33. Delta was down 4.5% in premarket trading.

American Airlines – a day after receiving about 10% on one kill earningThe airline was down about 2% in the premarket.

Tesla – The electric-vehicle maker slumped after sliding nearly 6% in the premarket Downgraded by Guggenheim to sell from neutral on concerns with Tesla’s fourth-quarter estimates. Tesla too cut prices Again in the US and Europe, according to a listing on the company’s website on Thursday night. Stock crashes 65% in 2022.

Bank of America – Bank Reported Earnings per share of 85 cents last quarter, up from the 77 cents per share expected by Refinitiv analysts. Revenue also beat expectations. However, despite the jump in interest rates, the bank’s net interest income came in slightly below expectations. Bank of America was down 2.8% in early trading.

sales force – The software company slipped 1.4% in the premarket after Atlantic Equities downgraded from overweight to neutral. The Wall Street firm cited execution concerns, management exodus and slower-than-expected revenue growth.

Kamla – Bank of America Upgraded Caterpillar To Buy from neutral, saying that the company has a less admirable roadmap that could have outperformed. Caterpillar was relatively flat in the premarket.

Logitech International — The keyboard and mouse maker continued to slide down about 5% in the premarket. The move comes a day after Logitech plunged 16% on the announcement that preliminary results showed declining sales and earnings. Deutsche Bank downgraded shares friday.

—CNBC’s Alex Harring, Yun Lee and Michael Bloom contributed reporting.