Stock Price Movement of Sirius XM, Nektar Therapeutics, and more Companies

Sirius XM – Stocks Dipped by 2%

The share prices for Sirius XM have experienced a 2% dip in the premarket action. The share prices for Sirius XM experienced a dip after the analysts at Morgan Stanley changed the stock status for the radio satellite operator.

The reports have confirmed that the stock status for Sirius XM has been downgraded by Morgan Stanley analysts. Prior to the downgrade, the stock status for Sirius XM was at “equal-weight”. Following the change, the stock status for Sirius XM has been downgraded to “underweight”.

Morgan Stanley analysts remarked that in the past couple of years, the auto market has been facing many issues. This is the reason why they have come to the conclusion that Sirius XM may continue facing a downtrend in terms of its sales and growth.

Nektar Therapeutics – Shares Plummeted by 24.4%

The share prices for Nektar Therapeutics have suffered a huge loss in the premarket trading. The share prices for Nektar Therapeutics experienced a dip after it made an announcement in regards to holding its experiments.

Nektar Therapeutics had recently announced that it was working on the creation of a cancer drug. Nektar Therapeutics had revealed that it was carrying out trials for the cancer drug that could play a key role in controlling cancer.

Nektar Therapeutics recently announced that it has halted its trials for the cancer drug. The company has revealed that the trials did not produce the results that they had expected the drug would achieve. Since the announcement, the share prices of Nektar Therapeutics have experienced a 24.4% dip.

Bank of America – Shares Surged by 1.1%

The share prices of Bank of America reportedly experienced a 1.1% surge in post-market trading. The banking and investment giant experienced a surge after sharing its earnings for the first quarter of 2022.

In the earnings report, the Bank of America executives have revealed that they generated earnings worth 80 cents per share. The analysts at Street had predicted that the banking giant would generate earnings worth 75 cents per share. Therefore, Bank of America has generated 5 cents per share more than the estimated earnings target.

Bank of America has announced that it has managed to generate high earnings due to high demand in its consumer lending sector.

Bank of New York Mellon – Shares Expected to Experience a Rise

The share prices for Bank of New York Mellon are expected to experience a rise in the upcoming days. The investment firm recently shared its earnings for the recently completed quarter. In the earnings report, Bank of New York Mellon revealed it generated earnings worth 86 cents per share.

The analysts had predicted that Bank of New York Mellon would generate earnings worth 85 cents per share.

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