Banks Slide, Airlines Soar, Globalstar Jumps

On this episode of Stock Movers:
- Wells Fargo (WFC) shares slide as much as 6.8% on Tuesday, the biggest intraday drop since July, after the US bank reported net interest income for the first quarter that missed the average analyst estimate. JPMorgan (JPM) shares fell over 3% premarket Tuesday after the largest US bank cut its net interest income forecast for the full year.

- United Airlines (UAL) shares rose as much as 3.9% and American Airlines (AAL) shares gained as much as 9.6% after United Chief Executive Officer Scott Kirby floated a possible combination between the two airlines. JetBlue (JBLU) Advances 14%, most in a year beating gains in S&P 500

- Globalstar (GSAT) shares rise 9.2% in premarket trading after Amazon (AMZN) agreed to acquire the company for $90 a share in cash and stock to extend satellite coverage and enable direct-to-device services. That represents a nearly 117% premium over Globalstar’s price from late October, before Bloomberg reported that the company was exploring a potential sale. The deal is expected to close in 2027.

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