Thursday 14th of April 2022 05:28:35 AM

Hot Stocks: Elon Musk bids for TWTR; MS, GS rise on earnings; WFC falls

Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction. oatawa/iStock via Getty Images Elon Musk's saga with Twitter (TWTR) continued in Thursday's pre-market trading. The world's richest person has made a bid to acquire the social media giant, sending its shares sharply higher. Elsewhere in the market, banking earnings were in focus as well. Morgan Stanley (MS) and Goldman Sachs (NYSE:GS) both advanced on stronger-than-projected results. Meanwhile, a disappointing revenue figure sent Wells Fargo (WFC) lower. Gainers Twitter (TWTR) climbed 8% in pre-market action after Elon Musk offered to buy the company for $54.20 per share. The bid, which was disclosed in a regulatory filing, values the company at about $43B. "Twitter has extraordinary potential. I will unlock it," Musk said in the filing. Shares rose to $48.90 in pre-market action, well below Musk's contemplated purchase price. Turning to bank earnings, Morgan Stanley (MS) also gained ground before the opening bell, boosted by better-than-expected quarterly results. The firm's revenue slipped nearly 6% from last year to reach $14.8B, but this topped projections by $640M. Earnings news gave a lift to Goldman Sachs (GS) as well. The company's profit exceeded estimates by about 20%. Meanwhile, the firm's revenue total of $12.9B came in almost $1.2B above consensus, despite falling almost 27% from last year. Decliner Wells Fargo (WFC) lost ground in pre-market action after the release of mixed quarterly results. The banking giant beat expectations with its Q1 profit. However, revenue fell more than projected, dropping nearly 3% to $17.6B. The top line was weighed down by a 28% sequential decline in noninterest revenue. Hurt by the financial figures, WFC dropped more than 3% before the opening bell. To keep up with Wall Street's biggest winners and losers throughout the session, turn to Seeking Alpha's On The Move section.

Top gainers today
Top losers today