Check out the companies that made headlines before the bell: JPMorgan Chase — Shares fell slightly in premarket after the banking giant reported second-quarter results. The bank earned $6.14 per share, excluding important items, on revenue of $58.02 billion. Analyst estimates compiled by LSEG were for earnings of $5.85 per share and revenue of $50.19 billion. Indeed, it was not clear whether the bank’s profits would match the consensus. Bank of America — Bank of America beat expectations in its latest quarter. The bank’s earnings per share were $1.21, beating analysts’ estimates of $1.13 compiled by LSEG. Revenue was also $31.7 billion, exceeding the consensus estimate of $30.72 billion. Indeed, stock prices were flat before the market. Wells Fargo — The stock fell 1% even after Wells Fargo posted earnings of $2 per share on revenue of $22.62 billion. Analysts surveyed by LSEG had expected earnings of $1.72 per share and revenue of $21.84 billion. Goldman Sachs — Shares rose 1.4% after the bank reported better-than-expected second-quarter profits. Goldman posted earnings of $20.98 per share, beating the LSEG consensus estimate of $14.48. Sales also came in at $20.34 billion, exceeding expectations of $16.13 billion. Apple — iPhone maker’s stock falls about 1% KeyBanc downgrades Apple from sector weight to underweight, and its $250 price target suggests a 21% downside from Monday’s closing price. The Wall Street firm expects its stock price could come under pressure as customers tighten their wallets in the wake of rising prices. IBM — The legacy technology giant plunged 17% after preliminary second-quarter profits fell short of expectations. IBM expects to report earnings of $2.93 per share, excluding certain items. Analysts polled by FactSet expected earnings of $3.01 per share. Telefonaktiebolaget LM Ericsson — Shares of the Swedish networking and communications provider fell nearly 10%. According to StreetAccount, the company’s sales came in at a disappointing SEK 527 billion, below the consensus estimate of SEK 539.4 billion. Adjusted gross profit margin of 48.4% was also below expectations of 47.8%. — CNBC’s Fred Imbert contributed reporting
