Check out the companies making headlines before the bell. Trip.com — The company’s stock plunged 16% after Reuters reported that Chinese market regulators are investigating the travel website. Netflix — Shares rose more than 1%. Netflix is preparing an all-cash $72 billion bid for Warner Bros. Discovery’s studios and HBO Max, CNBC’s David Farber confirmed Wednesday . Bloomberg first reported details of the offer on Tuesday, citing people familiar with the matter. Cybersecurity stocks — The group of names is trading down after Reuters reported that Chinese authorities ordered domestic companies to cease using U.S. and Israel-linked security software. Palo Alto Networks and Check Point Software fell around 2%, while Fortinet sank more than 2%. Wells Fargo — Shares fell more than 2% after the bank reported weaker-than-expected revenue for the fourth quarter. The company’s top line came in at $21.29 billion, below an LSEG estimate of $21.65 billion. Net interest income of $12.3 billion was also below estimates. Bank of America — The bank shares fell more than 2% despite reporting better-than-expected results for the fourth quarter. The company earned 98 cents per share on revenue of $28.53 billion. Analysts expected a profit of 96 cents per share on revenue of $27.94 billion. Stronger-than-anticipated net interest income drove the earnings beat. Citigroup — Shares rose more than 1% after the bank reported adjusted earnings of $1.81 per share on $21 billion in revenue for the fourth quarter. Analysts polled by LSEG expected a profit of $1.67 per share on $20.72 billion in revenue. — CNBC’s Fred Imbert contributed reporting Correction: A previous version misspelled Palo Alto Networks.
Stocks making the biggest moves premarket: WFC, BAC, NFLX
