On October 14, 2019, the UnitedHealth Group health insurance card appeared in Wallet.
Lucy Nicholson | Reuters
Check out the companies making headlines in midday trading.
JPMorgan — Shares inched up 0.6% after the bank reported stronger-than-expected second-quarter results amid rising interest rates and better-than-expected bond trading.
FuGuo bank — Wells Fargo shares edged lower even as the Wall Street firm beat expectations for its second-quarter results. The bank also said it expects higher-than-expected net interest income this year.
joint health — Shares rose 7.2 percent after the healthcare giant beat estimates for second-quarter revenue and profit. UnitedHealth also raised the lower end of its full-year guidance.Other healthcare stocks also rose, with Cigna and high health The last increase was more than 4%.
Citigroup — Shares of the New York-based bank fell 4% despite reporting second-quarter profit and revenue that topped expectations. Despite the strong performance, Citigroup’s revenue fell 1% from a year earlier as a downturn in markets and investment banking weighed on its results.
jetblue airlines, American airlines — JetBlue Airways and American Airlines fell 3.8 percent and 1.7 percent, respectively. After Thursday, the two airlines will no longer sell seats on each other’s flights, following a court ruling in May that ended their more than two-year partnership.
Microsoft — The software stock rose 0.8% after UBS upgraded its artificial intelligence opportunity and recent underperformance to make it attractive, upgrading it to a buy rating.
AT&T — The telecom stock fell 4.1% after JPMorgan downgraded its rating to neutral from overweight, citing competition concerns. The Wall Street firm also said AT&T’s cable business could limit upside for the stock.
State Street — The financial giant’s second-quarter revenue of $3.11 billion missed analysts’ expectations of $3.14 billion, according to Refinitiv, and shares fell 12.1 percent. State Street’s earnings, however, came in better than expected, with EPS of $2.17, compared with analysts’ expectations of $2.10.
black stone — Shares in the asset manager fell 1.6 percent after the release of second-quarter results. Earnings beat Wall Street expectations, but net inflows fell short of expectations.
Alcoa — Aluminum shares fell 5.9% after JPMorgan downgraded the stock to neutral from overweight. The stock could struggle due to downward pressure on metals prices, the company said.
progress — Progressive rose 1.8%, reversing earlier losses, after Wells Fargo downgraded the insurer to equal weight from overweight, citing growth concerns.
Eli Lilly — Pharmaceuticals rose 3.5 percent in midday trade. Eli Lilly said it plans to buy privately held obesity drug maker Versanis for $1.9 billion.
— CNBC’s Yun Li, Alex Haring, Sarah Min and Michelle Fox contributed reporting.
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