Movers: BofA, Continental Resources, Credit Suisse, Dish Network, Fox Corp, Roblox, Splunk

Scott Peters
17 Oct, 2022
New York City

Bank of America Corp jumped 6.5% to $33.76 after the bank reported better-than-expected third quarter sales and earnings.

Revenue, net of interest income, in the third quarter increased 8% to $24.5 billion from $22.8 billion a year ago. 

Net income soared to $7.1 billion or 81 cents from $6.2 billion or 73 cents a share.  

"Our U.S. consumer  clients remained resilient with strong, although slower  growing, spending levels and still maintained elevated  deposit amounts," said chief executive officer Brian Moynihan.  

Continental Resources, Inc gained 8.6% to $74.08 after founder and chairman Harold Hamm and his family agreed to acquire the remaining shares in the oil producer for $74.28 a share.   

Credit Suisse increased4.5% to $4.57 after the company settled a lawsuit for $475 million stemming from the sale of mortgage backed securities dating as back as 2008 with New Jersey State. 

The company is also looking to sell a stake to a group of investors according to reports on the weekend. 

Dish Network Corp jumped 7.7% to $13.95 and rebounded from a loss of more than 7% last week after Conx Corp was in talks to acquire Boost Mobile from the company.  

Fox Corp declined 9.4% to $28.58 and News Corp gained 3.8% to $16.20 after founder Rupert Murdoch formed a special committee to merge the two companies together. 

Roblox Corp soared 20.7% to $42.88 after the online gaming company said average daily active users in September jumped 23% to 57.8 million 

Estimated booking increased between 11% and 15% to between $212 million and $219 million from a year ago and estimated revenues increased between -2% and +3% to between $171 million and $180 million. 

Splunk Inc increased 5.8% to $74.25 after the activist investor Starboard Value is said to hold approximately 5% stake in the company with a plan to boost shareholder value.