Stock Groups

JPMorgan, Delta Air Lines, PayPal

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The JP Morgan Chase & Co. headquarters, The JP Morgan Chase Tower in Park Avenue, Midtown, Manhattan, New York.

Corbis Sport | Corbis Sport | Getty Images

These are the headline-grabbing companies in the midday trade.

JPMorgan Chase – Shares fell 3.5% as JPMorgan Chase reportedA $524 million loss due to market disruptions caused by Russia’s sanctions following the war in Ukraine. While the bank had better earnings than anticipated and revenue, the profit was 42% lower than the year before.

Delta Air Lines — The airline stock rose 4.6% as Delta forecast a return to profitThe current quarter. Delta recorded a lower than expected loss per share and exceeded consensus revenue expectations in its fiscal quarter.

American Airlines — Other travel stocks jumped after Delta’s report. American Airlines rose 9.5% while Southwest Airlines gained 6.8%, and Norwegian Cruise Line gained 5.9%.

PayPal Holdings, Walmart – Walmart on Tuesday after the bell announced it hired PayPal chief financial officer John Rainey. Brett Biggs has been CFO since 2015. Rainey replaces him. PayPal dropped about 4% and Walmart shares rose around 2%

Fastenal – Shares rose 1.8% after a stronger-than-expected quarterly earnings report. Profit was 47 cents per share for revenue of $1.7 million. Refinitiv analysts polled expected 45 cents per share for revenue $1.69 billion.

Charles Schwab – The brokerage company advanced 3.4% after Morgan Stanley named it a “top pick” and said rising rates will boost the stock. BlackRock’s price target implies an upside of approximately 65%

Warner Bros. Discovery – Shares rose 7.7% after Bank of America initiated the media stock with a buy rating. According to the firm, the merger between the media companies will create a “powerhouse.”

Gap – The retail stock surged 9.5% after a report from Activist Insight speculating the company could be a potential activist target. CNBC has yet to confirm this report.

— CNBC’s Samantha Subin and Tanaya Macheel contributed reporting

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