Delta Air Lines Airbus A330-300 lands at Athens International Airport AIA, LGAV / ATH Eleftherios Venizelos, with registration N806NW, a former Northwest Airlines aircraft.
Nicolas Economou | NurPhoto | Getty Images
Check out the companies that are making the headlines in midday trading.
BlackRock – Shares in the wealth management giant rose 3.7% after BlackRock beat expectations for third-quarter sales and earnings. The company reported $ 10.95 per share on revenue of $ 5.05 billion, driven by a surge in fee income. Analysts surveyed by Refinitiv expected $ 9.35 per share on sales of $ 4.9 billion.
JPMorgan Chase – JPMorgan shares fell 2.6% despite the bank's better-than-expected quarterly earnings. The revenues of the largest US bank in terms of assets were also higher than expected. The stock is up more than 26% this year. Other bank stocks also fell ahead of earnings reports earlier this week. Bank of America nearly 1% and Wells Fargo more than 1%. Citigroup also fell slightly.
Delta Air Lines – Delta Air Lines shares fell more than 5% after the company released quarterly financial results. The company achieved higher than expected sales and its first quarterly profit without taking federal aid into account since the beginning of the pandemic. However, the airline said higher fuel and other expenses will weigh on its fourth quarter earnings. Other airlines also withdrew. American Airlines gave up and United Airlines lost around 3%.
Moderna – The vaccine maker's shares rose more than 3% before the Food and Drug Administration took the first step in deciding whether Moderna should dispense booster doses of its Covid shot. The federal agency will hold an advisory committee meeting later this week to discuss the matter. On Tuesday, FDA scientists said data shows two doses are still enough to protect against serious illness and death in the U.S. and declined to take a stand on whether booster shots would be supported.
Advanced Micro Devices – The chip maker gained nearly 4% and was among the top winners in the S&P 500 on Tuesday. The move comes amid ongoing global chip scarcity and despite the recent weakness of other chip stocks. Xilinx, which AMD plans to take over, gained 3.6%.
Apple – Apple shares fell less than 1% after Bloomberg reported the company was cutting its iPhone production due to the chip shortage.
Plug Power – The hydrogen fuel cell maker’s shares rose more than 11% after it announced a partnership with aircraft manufacturer Airbus to decarbonise air travel and airport operations. The plan is to turn a US airport into the first “hydrogen hub” pilot airport.
Vimeo – The video sharing company gained 12% after releasing monthly metrics for September, seeing sales jump 33% year over year and average revenue per user up 16%. Wells Fargo has also started coverage of the stock with an overweight rating.
Monster Beverage – Energy drink maker Monster stocks slipped nearly 3% after a Jefferies analyst downgraded the stock from buy to hold and lowered its target price from $ 113 to $ 92.
WestRock – The paper and packaging company fell 2.6% after Truist initiated coverage of the stock with a hold rating, giving it a target price of $ 47 with an implied downtrend of 8%.
Sarepta Therapeutics – Biotech company Sarepta slumped more than 12% after submitting a forecast below analyst projections and announcing a $ 500 million stock offering.
– CNBC's Hannah Miao and Jesse Pound contributed to the coverage
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to start one Try it for free today