Investor confidence in Deutsche Bank (DB) has eroded as the stock hit a new all-time low on Thursday amid concerns about the bank's fundamentals. Friday morning, however, the stock was up in premarket trading, after CEO John Cryan reiterated that the bank had $223 billion in liquidity reserves, in a memo to employees.
Fellow struggling bank and Action Alerts PLUS holding Wells Fargo (WFC) was up slightly before the opening bell Friday after CEO John Stumpf received a second tongue-lashing from lawmakers on Capitol Hill. Stumpf faced questions from House of Representatives members Thursday, a week after the Senate took shots at the CEO over the accounts scandal that has rocked the stock since the company had to pay a $185 million fine.
Meanwhile, NXP Semiconductors (NXPI) shares, also an Action Alerts PLUS holding, were up close to 4% premarket a day after climbing 17% following reports that rival and Dividend Stock Advisor holding Qualcomm (QCOM) was in the process of negotiating an acquisition of the company for a reported $30 billion. Qualcomm is ranked third in revenue in the semiconductor industry while NXP is seventh. QCOM shares were rising 2% before the bell Friday.
Salesforce.com (CRM) believes that Microsoft's (MSFT) planned purchase of LinkedIn (LNKD) would be bad for competition, leading the human resources software-maker to petition European regulators to investigate antitrust issues with the deal. Salesforce lost out to Microsoft during the bidding process for LinkedIn. CRM was down 0.6% in premarket trading Friday.