US Futures Rise after Goldman, BofA earnings

Wall Street was set to extend gains on Wednesday, after hitting a four-week high in the previous session, as strong earnings from Goldman Sachs and Bank of America as well as a $22 billion deal in the fintech sector lifted sentiment.

Goldman Sachs (N:GS) climbed 3.2 percent in premarket trading after reporting an increase in trading revenue, the first Wall Street bank so far to show growth in that business.

• Bank of America (NYSE:BAC) stock jumped 5.01% after the company reported fourth quarter results that topped analysts’ expectations.

• Snap Inc (NYSE:SNAP) stock tumbled 9.94% after the company announced that its Chief Financial Officer Tim Stone was resigning.

• Nordstrom (NYSE:JWN) stock plunged 8.59% after the company admitted that its holiday sales were below its expectations.

• United Continental (NASDAQ:UAL) stock jumped 5.79% as the company’s fourth-quarter results topped consensus and its first-quarter profit outlook was also better than expected.

• First Data (NYSE:FDC) stock soared 23.49% after Fiserv announced it would acquire the company in an all-stock transaction valued at approximately $22 billion. Shares in Fiserv (NASDAQ:FISV) were off 2.16%.

• Verizon (NYSE:VZ) stock dropped 0.17% amid news that it will include free Apple (NASDAQ:AAPL) Music subscriptions to some of its data plans.

• Ford Motor (NYSE:F) stock declined 2.15% after the company gave a forecast for fourth-quarter earnings that missed analysts’ expectations.

• PG&E (NYSE:PCG) fell another 9.84% amid concern that an arcane Californian law, called "inverse condemnation", could keep it on the hook for future wildfire damage even if negligence can't be proved against it.

• Salesforce.com (NYSE:CRM) stock dropped 0.53% after a report that the company was in talks to acquire ClickSoftware Technologies.

S&P 500 companies are expected to report a 14 percent rise in fourth-quarter earnings, much lower than the 20.1 percent growth forecast in October, according to IBES data from Refinitiv.

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