Twitter, Johnson & Johnson, WeWork and more
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Vials labelled “COVID-19 Coronavirus Vaccine” and syringe are seen in front of displayed Johnson & Johnson logo in this illustration taken, February 9, 2021.
Dado Ruvic | Reuters
Take a look at the top companies in Tuesday’s midday trading.
Johnson & Johnson — Shares of the pharmaceutical and consumer giant gained 3% after the company beat earnings expectations in its first-quarter report. Still, J&J lowered its full-year sales and earnings outlook and stopped providing Covid-19 vaccine revenue guidance due to a global supply surplus and demand uncertainty.
Twitter — Shares of the social media giant dipped 1% on news that Apollo Global ManagementIs reportedly being considered financing a potential takeover of Twitter. To be certain, it isn’t interested in joining private equity groups in a buyout offer. Apollo stock gained 2.8% after the news.
Airline stocks — Airline stocks jumped after the Transportation Security Administration said it is no longer enforcing mask mandatesOn planes. After a Florida judge ruled against the CDC’s mandate, the news came as a surprise. The shares of Delta, United Airlines American AirlinesThe respective increases were 3.1%, 4.4%, and 5.7%.
Blackstone — Blackstone’s stock rose 4.6% on news that it would buy student housing company American Campus CommunitiesIn a deal that is estimated to be worth close to $13 billion. American Campus shares surged 12.7% following the announcement.
Halliburton — Shares of the oilfield services giant dipped 1% even after Halliburton beat estimates for the latest quarter and raised its outlook for customer spending in North America for the year.
Citizens Financial — The bank posted better-than-expected quarterly results, sending its stock up more than 7%. Citizens earned 93c per share for revenue of $1.65billion. According to Refinitiv. Analysts had expected earnings at 92 cents per sen on $1.64billion in revenue. Refinitiv also reported that analysts were disappointed by the net interest margin.
Travelers — The insurance company reported better-than-expected earnings and revenue for the previous quarter, thanks in part to lower catastrophe losses, but the stock fell more than 5%. Piper Sandler pointed out that the “underlying margins of the company were less than expected” during the quarter.
WeWork — WeWork’s stock jumped 11.9% after Piper Sandler initiated coverage of the office-sharing company with an overweight rating. Analysts believe WeWork will soon be profitable as it concentrates on its balance sheet. The popularity of flexible work is growing.
Lululemon — Shares of the apparel retailer jumped nearly 5% after Truist upgraded Lululemon to buy from hold. Analysts expect a strong five-year outlook for Lululemon at its upcoming analyst meeting. This will include more details about new products as well as plans to expand international. Truist is also confident that consumers will be able to absorb higher costs in an inflationary world.
Plug Power — Plug Power’s stock soared 9.3% the company announced a partnership with WalmartTo supply liquid hydrogen.
Hasbro — Shares of Hasbro rose 4.5% after the toymaker reported a stronger-than-expected revenue for the previous quarter. Analyst expectations were also exceeded by sales from Hasbro’s consumer product segment.
— CNBC’s Yun Li, Hannah Miao and Sarah Min contributed reporting
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