Check out the companies making headlines before the bell:
Bank of America (BAC) – Bank of America reported fourth-quarter earnings of 74 cents per share, 6 cents a share above estimates. Revenue came in above estimates as well, helped by a 25% jump in fixed income, currency, and commodities revenue.
BlackRock (BLK) – The asset management firm earned $8.34 per share for the fourth quarter, compared to a consensus estimate of $7.69 a share. Revenue also came in above Wall Street forecasts, boosted by increasing inflows into its exchange-traded funds as well as its cash-management business.
Goldman Sachs (GS) – Goldman reported GAAP earnings of $4.69 per share, compared to a consensus estimate of $5.47, but the GAAP number includes a sizeable litigation charge which – if excluded – would put Goldman's EPS above estimates. Revenue beat estimates, with record consumer and wealth management revenues as well as record assets under management.
Target (TGT) – The retailer's holiday season sales were up 1.4%, a result Target is calling "disappointing." CEO Brian Cornell said the company faced challenges in some key merchandise categories. Target reaffirmed its prior fourth-quarter earnings guidance, however.
UnitedHealth (UNH) – The health insurer reported quarterly earnings of $3.90 per share, 12 cents a share above estimates. Revenue was slightly below forecasts. UnitedHealth got a boost from higher revenue at its Optum pharmacy benefits management unit.
Beyond Meat (BYND) – Beyond Meat struck a pea protein supply deal with ingredients supplier Roquette Freres, expanding an existing partnership and helping the plant-based burger maker avoid shortages.
Microsoft (MSFT) – Microsoft released a patch for a Windows 10 security flaw discovered by the National Security Agency. Both Microsoft and the NSA said there is no evidence the flaw had actually been used for any malicious purposes.
Nektar Therapeutics (NKTR) – Nektar withdrew its application for its opioid painkiller designed to treat chronic low back pain. The move comes after a Food and Drug Administration panel unanimously voted against recommending the drug's approval.
ViacomCBS (VIACA) – ViacomCBS has reportedly hired George Cheeks, the vice chairman of Comcast's (CMCSA) NBCUniversal Contest Studios, to fill a senior executive role. That's according to The Wall Street Journal, which said Cheeks could ultimately succeed Joe Ianniello as head of the company's CBS network. Comcast is the parent company of NBCUniversal and CNBC.
PG&E (PCG) – PG&E is near a deal with investment firm Pimco and Elliott on a restructuring plan, according to a Bloomberg report. The agreement is said to give creditors of the utility a mix of equity and new debt if they abandon their rival restructuring plan.
