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Stocks - Nike, KB Home Soar in Pre-market, JP Morgan, BofA, Wells Fargo gain

Stocks in focus in pre-market trade on Friday

Investing.com - Stocks in focus in pre-market trade Friday:

• JPMorgan (JPM) stock rose 1.6% by 8:10AM ET (12:10GMT) after passing the Fed stress tests and announcing it would increase its dividend by 43% to $0.80 and launch a $20.7 billion stock buyback.

• Bank of America (BAC) stock gained 1.5% after the lender decided to increase its dividend by 25% to $0.15 per share and announced a $26 billion stock buyback.

• Wells Fargo (WFC) stock jumped 3.7% as it announced a $24.5 billion buyback and raised its dividend 10% to $0.43.

• Goldman Sachs (GS) stock and Morgan Stanley (MS) stock gained 0.5% and 0.4%, respectively, even though the Fed blocked both firms from increasing their payouts to shareholders.

• Nike (NKE) stock soared 9.8% after the firm reported quarterly sales of $9.79 billion, beating analysts' estimates of $9.41 billion, and announced a four-year $15 billion stock buyback plan.

• KB Home (KBH) stock jumped 9.1% after the homebuilder reported quarterly results that beat on the top and bottom lines.

• Synnex (SNX) stock fell 3.9% after confirming that it would acquire the IT management firm Convergys (CVG) for $26.50, equivalent to $2.4 billion.

• Constellation Brands (STZ) stock sank 5.3% after reporting earnings per share of $2.20, missing consensus expectations for $2.24.

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