Check out the companies making headlines in midday trading.
AT&T — The telecom and media stock jumped 4.6% after a stronger-than-expected first-quarter report. AT&T earned an adjusted 86 cents per share on $43.94 billion in revenue. Analysts surveyed by Refinitiv were anticipating 78 cents per share and $42.69 billion in revenue. CEO John Stankey also expressed optimism about HBO Max, the company’s streaming service.
Fisker — The electric vehicle stock stumbled for a 7% loss after Goldman Sachs downgraded Fisker to sell from neutral. The investment firm said in a note to clients that it is concerned that the early stage company will be facing heavy competition once it gets its vehicles to the market.
Dow — Shares of Dow fell more than 4% even after the chemicals company beat on the top and bottom line of its quarterly results. Dow reported earnings of $1.36 per share on revenue of $11.88 billion. Analysts expected earnings of $1.14 per share on revenue of $11.09 billion, according to Refinitiv.
Danaher — The life sciences company’ shares popped 4% after a better-than-expected quarterly report. Danaher reported earnings of $2.52 per share, well above the $1.75 per share forecasted on Wall Street, according to Refinitiv. The company reported revenue of $ 6.86 billion, higher than the expected $6.26 billion.
Biogen — Shares of the biotech fell 2% despite a stronger-than-expected quarterly report. Stifel analyst noted that the solid earnings were overshadowed by the uncertainty surrounding its Alzheimer’s drug aducanumab.
Southwest Airlines — Shares of Southwest Airlines popped 1.4% in midday trading after the airline said that it’s seeing improved leisure travel bookings into the summer months. It told investors in its earnings results that it expects to break even or “better” by June. It also posted a smaller-than-expected earnings loss for the three months ended March 31.
Blackstone Group — The investment giant gained 5% around noontime in New York after it swung to a record quarterly profit as its bets on fast-growing companies paid off during the first quarter. The value of Blackstone’s private-equity portfolio climbed 15.3%, well ahead of the S&P 500’s 5.8% gain over the same time. The firm is an investment in online-dating platform Bumble and genealogy company Ancestry.
Las Vegas Sands — The casino stock dropped about 1.7% after a revenue miss. Las Vegas Sands reported $1.196 billion in sales for the first quarter, versus revenue of $1.327 billion expected by analysts, according to FactSet.
— CNBC’s Maggie Fitzgerald, Jesse Pound and Tom Franck contributed reporting.
Source: Finance - cnbc.com
