Check out the companies making the biggest moves premarket: Bank of America — The stock gained more than 1% after the banking giant posted better-than-expected results for the first quarter . Bank of America earned $1.11 per share on revenue of $30.43 billion. Analysts expected a profit of $1.01 per share on revenue of $29.93 billion. BofA’s strong results were bolstered by its equity sales and trading unit. Broadcom — The chipmaker jumped more than 2.5% after it announced with Meta a plan to deliver 1 gigawatt of custom chips , with further plans to deliver multiple gigawatts in the future using Broadcom’s technology. Broadcom CEO Hock Tan also said he’d be stepping down from Meta’s board. Morgan Stanley — The bank jumped 2% after it reported a revenue and earnings beat in its first quarter report as trading revenues exceeded expectations. Morgan Stanley delivered $3.43 in earnings per share and $20.58 billion in revenue. That was higher than the $3 in earnings per share and $19.72 billion in revenue that analysts were expecting, according to LSEG. Snap — Shares popped more than 5% after the Snapchat parent announced plans to lay off up to 16% of its workforce. The company said it’s trying to reallocate resources toward growing net income profitability, among other initiatives. Gitlab — The software company r …
