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Premarket Movers Wednesday - JPMorgan, Plug Power, Delta Air Lines

Stocks moving in premarket trading include JPMorgan, Delta Air Lines, BlackRock, Plug Power and Apple.

U.S. equity futures on Wednesday bumped higher as strong third-quarter earnings and declining oil prices boosted investor sentiment.

Here are some of the top movers in Wednesday's market:

1. JPMorgan Chase JPM | Up 0.6%

Shares of JPMorgan Chase  (JPM) - Get Free Report were higher after the banking giant posted a 24% rise in third-quarter earnings, exceeding Wall Street expectations.

The New York financial-services company posted profit of $11.69 billion, or $3.74 a share, up from $9.44 billion, or $2.92 a share, in the year-earlier quarter.

The “economy continues to show good growth - despite the dampening effect of the delta variant and supply-chain disruptions," Chief Executive Jamie Dimon said in a statement. 

"We released credit reserves of $2.1 billion, as the economic outlook continues to improve and our scenarios have improved accordingly," Dimon added.

2. Plug Power PLUG | Up 7.1%

Shares of Plug Power  (PLUG) - Get Free Report jumped after Morgan Stanley analyst Stephen Byrd upgraded the hydrogen-fuel-cell company to overweight from equal weight and raised its price target on the stock to $40 a share from $35.

Plug Power is well positioned "at the outset of a significant transition point" in energy with the adoption and expansion of the use of green hydrogen, Byrd told investors in a note.

The analyst says the company's upcoming investor day, accelerating growth, legislative support and an attractive risk/reward profile drove his upgrade.

3. BlackRock BLK | Up 2.1%

Shares of BlackRock  (BLK) - Get Free Report advanced after the asset management firm delivered a profit beat for the third quarter. Assets under management rose 21% to $9.46 trillion.

4. Apple AAPL | Down 0.7%

Shares of Apple  (AAPL) - Get Free Report edged lower amid reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units as a result of the global chip shortage

5. Delta Air Lines DAL | Down 1%

Shares of Delta Air Lines  (DAL) - Get Free Report slipped even as the carrier exceeded third-quarter earnings and revenue estimates. Delta’s quarterly profit was its first since before the pandemic, but it does anticipate a modest current-quarter loss due to higher fuel costs.