Global Courant 2023-04-15 01:08:24
A Boeing 737 MAX 8 stands outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington.
Matt McNight | Reuters
Take a look at the companies that take the biggest steps in the afternoon:
Boeing — Equities fell 5.56%. On Thursday, Boeing warned it will have to interrupt some deliveries of its 737 Max aircraft over a problem with parts made by a supplier, Spirit AeroSystems. Shares of Spirit AeroSystems fell 20%.
JPMorgan Chase — Shares rose 7.55% after the bank reported record first-quarter revenue on the back of higher interest rates. Revenue came in at $39.34 billion, higher than analysts’ estimate of $36.19 billion, per Refinitiv. Adjusted earnings per share were $4.32, compared to expected $3.41 per share.
Citi group — Shares of the bank rose 4.78% after the company reported rising net income and better revenue for the first quarter. Citigroup posted revenue of $21.45 billion, compared to the expected $19.99 billion, according to Refinitiv.
UnitedHealth — Health insurer stock fell 2.74% on investor concerns about the impact of certain policy changes in 2024 on near-term Medicare Advantage plan profits. The stock’s decline came even after UnitedHealth beat estimates on the top and bottom lines and improved its full-year outlook.
Hello group — China’s entertainment stocks rose 4.81% after being upgraded to overweight from neutral by JPMorgan. The company said the company could benefit from improvements in live streaming in China.
Black rock — Shares of the investment management company rose 3.07% after it reported first-quarter adjusted earnings per share of $7.93, which beat analysts’ estimate of $7.76 per share from Refinitiv. interrogated. Sales were $4.24 billion, in line with expectations.
PNC financial services — The bank’s share fell 1.8% in the afternoon but finished slightly higher at 0.36%. PNC forecast 4% to 5% annualized revenue growth for fiscal year 2023, down from its previous forecast of 6% to 8%. PNC’s earnings per share for the first quarter beat estimates, but revenue was slightly below expectations, Refinitiv said.
Bright — Shares of the EV maker fell 6.3% after the company reported disappointing first-quarter deliveries. Lucid produced 2,314 Air sedans, but only delivered 1,406.
Rivian — Shares of the electric vehicle maker retreated 6.89% during afternoon trading on Friday. Piper Sandler lowered the stock from neutral to neutral earlier in the day, saying the company needs more cash. The new price target now represents only a marginal advantage for Rivian shares. Piper Sandler added that they still like Rivian’s strategy of pursuing vertical integration for its vehicles.
VF Corp — The parent company of clothing retailers such as Vans and The North Face rose 3.02%. Goldman Sachs upgraded the stock, citing the company’s latest strategic moves as potential boosts for the stock. VF’s strong management strategy and new products allow the stock to rise more than 23%, Goldman said.
catalent — Stocks fell 26.84% after the biotech company warned about productivity issues and higher-than-expected costs at three of its facilities that will materially impact third-quarter fiscal results.
– CNBC’s Alex Harring, Samantha Subin, Tanaya Macheel and Brian Evans contributed to the reporting.
(TagsToTranslate)Catalent Inc
