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Stocks - JP Morgan, Wells Fargo Fall Premarket; J&J, Goldman Sachs Rise

Investing.com - Stocks in focus in premarket trading on Tuesday:

• JPMorgan Chase&Co (NYSE:JPM) stock lost 1.6% in premarket trade by 8:20 AM ET (12:20 GMT) after it cut its forecasts for net interest income by $500 million to $57.5 billion, compared to the $58 billion target in the previous quarter, prompting fears that earnings had reached their cyclical peak. The bank still beat estimates on the bottom and top line.

• Wells Fargo &Company (NYSE:WFC) stock was down 0.6% even though, like JPMorgan, its earnings and revenue topped forecasts.

• Tesla (NASDAQ:TSLA) stock slipped 1.9% after it dropped variants of its Model X and Model S and cut the starting price of its Model 3 to $38,990.

• Goldman Sachs (NYSE:GS) stock rose 1% after its financial results were better than expected, despite a 6% fall in quarterly profit. The bank’s earnings were hit by subdued fixed-income trading and weak debt underwriting.

• Johnson&Johnson (NYSE:JNJ) stock was up 0.5% after it raised its annual sales outlook and its earnings came in better than expected. The company was unable to give clear guidance on the cost of legal proceedings that claim its talcum powder caused ovarian cancer.

• Google parent company Alphabet (NASDAQ:GOOGL) stock fell 0.5% after U.S. President Donald Trump tweeted that his administration would look into comments from tech investor Peter Thiel that the tech giant should be investigated for allegedly aiding the Chinese military.

• Domino’s Pizza (NYSE:DPZ) stock slumped 7.3% after its sales came in below estimates, while comparable-store sales were up 3%, which was less than expected.

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