Check out the companies making headlines before the bell. Trip.com — The company’s shares fell 16% after Reuters reported that Chinese market regulators were investigating the travel website. Netflix — Shares rose more than 1%. Netflix is preparing an all-cash bid of $72 billion for Warner Bros. Discovery studios and HBO Max, CNBC’s David Farber confirmed Wednesday. Bloomberg first reported details of the proposal on Tuesday, citing people familiar with the matter. Cybersecurity stocks — This group of stocks fell after Reuters reported that Chinese authorities have ordered domestic companies to stop using security software linked to the United States and Israel. Palo Alto Networks and Check Point Software fell about 2%, and Fortinet fell more than 2%. Wells Fargo — Shares fell more than 2% after the bank reported lower-than-expected fourth-quarter earnings. The company’s revenue was $21.29 billion, below LSEG’s forecast of $21.65 billion. Net interest income was also lower than expected at $12.3 billion. Bank of America — The bank’s stock fell more than 2% despite reporting better-than-expected fourth-quarter results. The company’s revenue was $28.53 billion, or 98 cents per share. Analysts had expected sales of $27.94 billion and earnings per share of 96 cents. Earnings were boosted by higher-than-expected net interest income. Citigroup — Shares rose more than 1% after the bank reported adjusted earnings of $1.81 per share on fourth-quarter revenue of $21 billion. Analysts polled by LSEG expected earnings of $1.67 per share on sales of $20.72 billion. — CNBC’s Fred Imbert contributed reporting Correction: An earlier version misspelled Palo Alto Networks.
