NEW YORK (TheStreet) -- London-based Lloyds (LYG) plans to cut 15,000 jobs in an effort to save 1.5 billion pounds ($2.4 billion) a year by 2014. HSBC (HBC) said it will cut 700 jobs across the U.K. as the banking giant braces for changes in financial services regulations that could weaken demand for its services.
Lloyds was surging by 7.8% to $3.05, while HSBC was unchanged at $49.30 in premarket trading Thursday.
Shares of First Solar (FSLR) were spiking by 6.5% to $137.89 on reports that the U.S. Department of Energy will provide the company will an additional $4.5 billion in loan guarantees for three California solar projects.
Shares of Hess (HES) were rising 1.5% to $74.04 on news that the integrated energy company was raised to buy from neutral at Bank of America Merrill Lynch. Goldman Sachs (GS) may lay off 230 workers in New York for economic reasons, the investment bank said in a state filing Wednesday. Meanwhile, Bank of America (BAC) slashed roughly 60 jobs in its equity sales and trading division this month to reduce expenses, Bloomberg reported. The Bloomberg report said that Bank of America and Goldman Sachs are among a group of financial firms that are laying off numerous employees to cut costs as equity and bond trading slows. Bank of America shares were up 0.2% to $11.16 and Goldman Sachs shares were up 0.4% to $132.99 in premarket trading.
American Airlines, a subsidiary of AMR (AMR), is in active talks with Airbus and Boeing (BA) to replace about 38% of its current fleet by buying at least 250 aircraft for roughly $15 billion, The Wall Street Journal reported. AMR shares were down 0.4% to $5.39.
Darden Restaurants (DRI) is expected to report fourth-quarter profit of $1 a share after the markets close Thursday. During the same time last year, Darden reported profit of 81 cents a share. Shares were rising 0.4% to $49.50.
Samsung Electronics filed a complaint with the U.S. International Trade Commission that seeks to ban Apple's (AAPL) importation and sale of iPhone, iPad and iPod devices in the U.S. Apple shares were up 0.2% to $334.75.
Wine company Constellation Brands (STZ) said first-quarter profit rise 52% to $75 million, or 35 cents a share. On an adjusted basis, earnings were 39 cents a share. Analysts expected the company to report first-quarter profit of 37 cents a share. The company earned 22 cents a share last year.
Spices, seasonings, specialty foods company McCormick (MKC) reported that its second-quarter profit rose 12% to 55 cents a share from 49 cents a share a year ago. Analysts, on average, were expecting profit of 54 cents a share. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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