Carvana, Goldman Sachs, AT&T and more

Check out the companies making headlines in midday trading.

caravan — Shares soared nearly 30% after the used-car retailer struck a deal that would reduce its total outstanding debt by more than $1.2 billion. The agreement will eliminate more than 85% of the 2025 and 2027 unsecured note maturities and reduce required cash interest payments by $430 million annually over the next two years.

Goldman Sachs — The banking giant rose 1.6 percent, despite missing analysts’ earnings and revenue forecasts polled by Refinitiv. Goldman Sachs said the profit decline was related to a write-down in its commercial real estate business and the sale of its lending unit GreenSky.

Joby Air – JPMorgan Chase downgraded the electric aircraft maker to underweight and said its recent stock performance was “largely overstated,” sending the company’s shares down more than 13%.

Omnicom — The marketing and communications company’s second-quarter revenue of $3.61 billion fell short of the $3.67 billion forecast by analysts polled by FactSet, sending the company’s shares down 10.7 percent. The company beat estimates by a penny to $1.81 per share.

high health — Elevance Health rose 6% after second-quarter results topped analysts’ expectations. The health insurer reported adjusted earnings of $9.04 a share, beating the consensus estimate of $8.78 a share, according to FactSet. Revenue was $43.38 billion, beating estimates of $41.64 billion. Additionally, Elevance said medical enrollment grew by 938,000 year-over-year. It also raised its full-year guidance, also beating expectations.

Northern Trust — Shares of Northern Trust rose more than 14 percent after the earnings report. The regional bank reported earnings of $1.56 per share, down 16% from a year ago. The company reported total revenue of about $1.8 billion, down 1% from a year earlier.

Interactive Brokers — Shares fell 3.5 percent after the electronic brokerage missed earnings estimates. The company reported second-quarter adjusted earnings of $1.32 a share, below the $1.40 a share consensus estimate of analysts polled by Refintiv.

Johor Bahru Hunter Transportation Services — The transportation and logistics sector rose 1.5 percent despite a disappointing quarterly report. JB Hunt reported earnings of $1.81 a share on $3.13 billion, while analysts polled by Refinitiv had estimated $1.92 a share on revenue of $3.31 billion.

western union bank — Shares of the regional lender rose 1.2 percent, erasing premarket losses, after the regional lender reported a mixed second-quarter earnings report after the bell on Tuesday. The company reported earnings of $1.96 per share on revenue of $669 million. Analysts were expecting earnings of $1.98 a share on revenue of $652 million, according to Refinitiv data. The bank also reported an increase in deposits during the quarter.

AT&T — Telecoms rose 7.6.4 percent. A Wall Street Journal survey found that stock prices have been under pressure in recent days America’s miles of lead cables AT&T said Tuesday it has no plans to remove the cable in Lake Tahoe. Argus downgraded the stock to buy from hold, citing concerns surrounding cables.

Qualcomm — Shares rose 2.8% after JPMorgan added the stock to its focus list, saying it was one of the firm’s best growth ideas.

cisco — Shares in the enterprise technology company rose 1.4% after JPMorgan upgraded Cisco to overweight from neutral. The slowdown in demand for Cisco products may be close to bottoming out, the investment firm said.

Charles Schwab — JPMorgan rose 1.9% after JPMorgan added the stock to its focus list after its earnings report, citing improving fundamentals.

amazon — Shares of the e-commerce giant rose 1.6% after Bank of America reiterated a buy rating on the stock and expressed optimism on earnings.

service immediately — The software stock rose 1.8 percent to hit a 52-week high after Bank of America reiterated the company’s top pick. The Wall Street firm said its channel checks showed healthy deal activity in the second quarter amid easing macro pressures.

— CNBC’s Samantha Subin, Hakyung Kim, Sarah Min, Jesse Pound, Michelle Fox and Yun Li contributed reporting