IBM, Boeing, Hasbro, Ford and others

IBM CEO Arvind Krishna speaks at a panel session at the World Economic Forum in Davos, Switzerland on May 24, 2022.

Holly Adams | Bloomberg | Getty Images

Check out the companies that made headlines in Tuesday afternoon trading.

IBM – IBM shares fell 5.25% after the technology company warned of a potential $3.5 billion hit from a strong US dollar. The warning overshadowed higher-than-expected earnings and earnings for the previous quarter.

Boeing – Shares of the aerospace giant rose 5.69%, continuing its upward trend after Boeing announced several aircraft order deals. The deals include an order for five 787 Dreamliners from AerCap and orders for 737 Max aircraft from Aviation Capital Group and 777 Partners. Boeing shares rose more than 10% in July.

Shares in chip and semiconductor makers jumped ahead of a key Senate vote on chip legislation that could take place as early as Tuesday. The legislation will provide domestic chip makers with $52 billion in government subsidies. Shares of Marvell Technology rose 7.12%, ASML Holding rose 5.24%, Applied Materials rose 5.24% and Advanced Micro Devices rose 5.46%. Intel, Qualcomm and Nvidia jumped 3.9%, 4.01% and 5.53% respectively.

Goldman Sachs – Shares of Goldman Sachs rose 5.57%, pushing the Dow Jones Industrial Average higher based on the bank’s earnings. Shares of other banks rose along with Goldman. Shares of Bank of America added 3.38% and shares of JPMorgan Chase added 2.48%.

Shares of travel companies. Shares of cruise companies and airlines have risen as investors continue to debate consumer health and the possibility of a recession while travel demand remains strong. Shares of Royal Caribbean, Carnival and Norwegian Cruise Line rose 5.76%, 7.36% and 3.6% respectively. United, Delta and American traded up more than 3%, while Southwest added 3.71%.

Hasbro – Shares of Hasbro rose 0.71% after the company reported earnings per share that beat Wall Street’s forecast. The toy maker’s revenue came in slightly less than analysts had expected. Hasbro’s net income was driven in part by strong demand for board games and higher prices.

Halliburton – Halliburton’s shares rose more than 2.11% on stronger-than-expected quarterly earnings and earnings. The oilfield service company reported earnings per share of 49 cents on revenue of $5.07 billion. Analysts polled by Refinitiv had expected earnings of 45 cents per share on $4.71 billion in revenue.

Ford – Ford shares jumped 5.27% on Tuesday. The day before, the company unveiled its latest F-150 Raptor pickup truck. The truck is the most powerful, with 700 horsepower, and the most expensive, starting at $109,000.

Exxon Mobil – Exxon Mobil’s shares rose 2.52% after Piper Sandler upgraded the company’s rating from neutral to overweight and said the stock could rise another 25%. The firm expects the company’s strong results for the second quarter.

– Reporting by Samantha Subin and Jesse Pound from CNBC.

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