Business

Twitter, Johnson & Johnson, WeWork and more

Vials labeled “COVID-19 Vaccine” and a syringe are visible in front of the Johnson & Johnson logo in this illustration taken February 9, 2021.

Dado Ruvic | Reuters

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

Johnson & Johnson – Shares of the pharmaceutical and consumer goods giant rose 3% after the company beat earnings expectations in its first-quarter report. However, J&J cut its sales and earnings forecast for the full year and stopped providing a Covid-19 vaccine revenue forecast due to a global oversupply and demand uncertainty.

Twitter – Shares of the social media giant fell 4.7% on news that Apollo Global Management is reportedly considering funding a potential takeover of Twitter. To be sure, the firm is not interested in joining the private equity consortium in the buyout bid. Apollo shares rose 3.2% after the release of the report.

Airline stocks – Airline stocks jumped after the Transportation Security Administration said it was no longer required to carry on planes. The news comes after a federal judge in Florida ruled that the CDC had overstepped its authority. Shares of Delta, United Airlines and American Airlines rose 2.2%, 4.5% and 5.7%, respectively.

Blackstone – Blackstone shares rose 4.9% on news that the company will buy student housing company American Campus Communities in a nearly $13 billion deal. Shares of American Campus rose 12.5% ​​on the news.

Halliburton – Shares in the oilfield services giant tumbled about 1% even after Halliburton outperformed last quarter estimates and raised its North American consumer spending forecast for the year.

Citizens Financial – The bank posted better-than-expected quarterly results, sending its stock up about 7%. Citizens reported earnings of 93 cents per share on $1.65 billion in revenue. Analysts were expecting earnings of 92 cents per share on revenue of $1.64 billion, according to Refinitiv. The company’s net interest margin also beat analysts’ expectations.

Travelers. The insurance company reported higher-than-expected earnings and earnings for the previous quarter, thanks in part to declining catastrophe losses, but shares fell more than 4.9%. Piper Sandler noted that the company’s “underlying margins were worse than expected” for the quarter.

WeWork – WeWork’s stock jumped 8.1% after Piper Sandler initiated coverage of the overpriced office-sharing company. Analysts say WeWork is moving closer to profitability as it focuses on its balance sheet and flexible work continues to grow in popularity.

Lululemon – Shares in the clothing retailer jumped nearly 4.4% after Truist upgraded Lululemon to buy with hold. Analysts are expecting a “robust” five-year outlook at the upcoming Lululemon Analyst Day with more details on new products and plans to expand internationally. Truist also believes the company can easily pass on higher costs to consumers in an inflationary environment.

Plug Power – Plug Power shares rose 9.8% after the company announced a partnership with Walmart to supply liquid green hydrogen.

Hasbro – Shares of Hasbro rose 5.2% after the toy maker reported higher-than-expected revenue for the previous quarter. Sales in the company’s consumer goods segment also beat analysts’ expectations.

– CNBC’s Yun Li, Hannah Miao and Sara Ming provided reporting.


Source link

Leave a Reply

Your email address will not be published.

Back to top button