Stocks with the largest changes before the market opens: BlackRock, PayPal, ASML, Morgan Stanley and others

Market Movements Before Opening

Here’s a rundown of notable pre-market trading activity:

BlackRock — The investment management firm saw an impressive rise of over 4.5% following its earnings report, which surpassed expectations. The company posted adjusted earnings per share at $13.91, beating LSEG’s predicted $12.59, with revenue also exceeding forecasts.

PENTAIR — Shares plummeted more than 14% after the water treatment equipment maker issued preliminary second-quarter results that disappointed Wall Street. The company’s expected adjusted earnings of $1.12 per share fell short of analysts’ $1.48 estimate, according to FactSet.

Morgan Stanley — The company’s stock climbed 1.5% after announcing record sales and profits in its second-quarter report. It achieved earnings of $3.46 per share, exceeding the analyst expectation of $2.94.

Johnson & Johnson — Despite reporting stronger-than-anticipated results for the second quarter, shares dropped over 1%. J&J had adjusted earnings per share of $2.90 and revenue reaching $25.31 billion, surpassing analyst estimates of $25.05 billion for sales and $2.85 per share for earnings.

PayPal — The digital payments platform surged by 19% after Reuters stated that payments company Stripe and private equity firm Advent made a proposal to acquire PayPal for $53 billion. The offer was reportedly made earlier this month at a purchase price of $60.50 per share.

ASML — Shares increased by 3% following the Dutch semiconductor equipment manufacturer’s quarterly results, which exceeded expectations. The company also raised its full-year guidance, with projected gross profit margins now expected to be between 54% to 56%, up from a prior estimate of 51% to 53%.

IBM — The technology giant saw a rise of over 1% as it recovered somewhat from significant losses in the previous session. IBM had plunged 25% on Tuesday, marking its worst day ever, after revealing disappointing preliminary second-quarter results.

Elevation Health — Despite reporting second-quarter revenue that outperformed consensus estimates, shares fell 7%. The company did raise its full-year profit forecast, albeit just above expectations.

M&T Bank — The regional bank’s shares rose 2% following better-than-expected second-quarter earnings, reporting $5.32 per share compared to the FactSet consensus of $4.66.

Bank of New York Mellon — Shares decreased by 1% even though the bank exceeded earnings and revenue expectations for the second quarter. While the bank anticipates double-digit revenue growth by 2026, it also expects expenses to surpass earlier forecasts.