Are you curious about which companies are making waves in the stock market right now? Here’s a rundown of some of the latest news on top-performing stocks in midday trading.
United Airlines is soaring high with a nearly 7% increase after reporting better-than-expected earnings and revenue for the fourth quarter. The company also hit its full-year adjusted earnings target for 2023 and has seen solid bookings for 2024.
TKO Group Holdings rallied 13% after announcing a deal to air its WWE flagship program “Raw” on Netflix next year, marking the streaming giant’s first major foray into live sports.
On the flip side, 3M sank more than 12% after issuing guidance that fell short of analyst expectations. The company’s adjusted earnings per share for the year are expected to range below what analysts had predicted.
In the tech world, U.S. shares of Alibaba surged nearly 7% after news broke that the company’s co-founders have purchased over $200 million worth of shares.
Sunnova Energy and Enphase Energy also saw gains after being upgraded to buy ratings by Truist, citing potential benefits from Federal Reserve rate cuts this year.
Coinbase, on the other hand, slumped 3% following a downgrade by JPMorgan, which cited potential obstacles ahead as enthusiasm for spot bitcoin ETFs wanes.
Additional standout performers include General Electric, which delivered strong fourth-quarter results but shared weaker guidance for the first quarter, and Teva Pharmaceutical, which rose about 4% after receiving a buy rating from Jefferies.
Lockheed Martin, D.R. Horton, and Logitech were among the companies experiencing declines, while Verizon, Procter & Gamble, and RTX exceeded expectations in their quarterly results, resulting in stock price jumps.
In the finance sector, Zions Bancorporation saw a small decline after reporting a decrease in net interest income during the fourth quarter.
It’s a rollercoaster out there, but with companies making big moves, it’s always interesting to see which ones are having the most significant impact in the stock market. Stay tuned for more updates as these companies continue to navigate the world of stocks and finance!
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