Check out the companies with the biggest premarket moves: Bank of America — Shares rose more than 1% after the banking giant reported better-than-expected first-quarter results. Bank of America had revenue of $30.43 billion and earnings per share of $1.11. Analysts had expected sales of $29.93 billion and earnings of $1.01 per share. BofA’s strong performance was supported by its equity sales and trading division. Broadcom — The chipmaker soared more than 2.5% after announcing plans to offer Meta and 1 gigawatt of custom chips in the future using Broadcom’s technology. Broadcom CEO Hock Tan also said he would resign from Meta’s board of directors. Morgan Stanley — The bank rose 2% after reporting better-than-expected trading revenue and better-than-expected sales and profits in its first-quarter report. Morgan Stanley achieved earnings of $3.43 per share and sales of $20.58 billion. That beat analysts’ expectations for earnings of $3 a share and revenue of $19.72 billion, according to LSEG. Snap — Shares soared more than 5% after Snapchat’s parent company announced plans to lay off up to 16% of its workforce. The company said it is seeking to reallocate resources toward improving net income profitability, among other initiatives. Gitlab — The software company rose more than 5% after announcing an expanded partnership with Google, saying its artificial intelligence products will now be available through Google Cloud. Gitlab stock has fallen more than 46% in 2026 due to concerns that AI will disrupt software companies’ business models. Robinhood, Webull — Shares of financial services platforms soared on news that the Securities and Exchange Commission will lift day-trading restrictions for small retail investors. Robinhood rose more than 5.5% and Webull rose 6%. PNC — The regional bank fell 1% after releasing a first-quarter report with higher profits but lower revenue after acquiring FirstBank. PNC reported earnings per share of $4.13 and revenue of $6.17 billion. The consensus estimate was for earnings of $3.93 per share and revenue of $6.24 billion, according to analysts surveyed by FactSet. First Solar — Shares rose more than 4.5% after Reuters reported that China is considering restricting exports of solar power equipment to the U.S. The report noted that China manufactures about 80% of the world’s solar panel equipment. Memory stocks — A number of stocks fell in premarket trading Wednesday as investors eased off the gas from strong gains over the past 10 trading sessions. SanDisk fell more than 2%, and Western Digital and Seagate Technology both fell more than 1%. Micron Technology fell 2.3% after insiders sold 24,000 shares worth a total of $10.1 million, according to an SEC filing. —CNBC’s Fred Imbert and Nick Wells contributed reporting.
