United Airlines, AT&T, Tesla and more
United Airlines Holdings Inc. Boeing 747-200 plane on the San Francisco International Airport (SFO), San Francisco, California on Thursday Oct. 15, 2020.
David Paul Morris | Bloomberg | Getty Images
These are the headline-grabbing companies that made news in trading on Thursday afternoon.
United Airlines – Shares of the airline surged 10.5% after the company said it expects to return to profitabilityTravel will rebound in 2022 United highlighted a rise in bookings, and passengers willing to pay more travel to receive its positive guidance.
American Airlines – Shares of the country’s biggest airline jumped 4.3% after the company forecast a second-quarter pretax profitIts strong bookings make it possible to pay for its high fuel prices. American stated that March marked the first time since the Covid pandemic started that it had seen its revenues surpass 2019 levels. He also said that bookings are on the rise.
Blackstone – Blackstone beat analyst estimates on the top and bottom lines for the previous quarter. After rising in the previous session, Blackstone’s stock fell by 4.5%.
AT&T — The telecom giant gained 4.6% after reporting its first-quarter results. AT&T reported $38.1 billion in consolidated revenue for the quarter and 65 cents in earnings per share, which includes results of the now spun-off WarnerMedia. Revenue for AT&T’s communications segment, including its mobile phone service, was up 2.5% year over year at $28.9 billion.
Tesla — Tesla shares jumped 6.3% after the electric vehicle maker beat Wall Street estimatesThe top and bottom line saw an increase of car deliveries, while the quarter ended with an increase in both the number and value of cars. An analyst responded positive to the news with one calling Tesla a “must own.”
Xerox – Shares fell 16.3% after Xerox reported weaker-than-expected earnings. The profit was 1 cent lower than the consensus of Refinitiv, at 12 cents per shared. This office equipment producer said that it had been affected by supply chain problems and inflation pressures.
Dow Inc. – The chemical maker’s stock added 4.2% on the back of better-than-expected quarterly results. Dow Inc reported adjusted earnings of $2.34 per Share on revenue of $15.26 Billion for its first quarter. On revenue of $14.54 billion, analysts had predicted a profit at $2.06 per share.
Carvana – Shares of the online auto seller dropped 4.8% after the company beat reported a wider than expected loss per share for the previous quarter. Carvana’s share price dropped to $2.89, while Refinitiv analysts expected an $1.44 share loss.
CSX — Shares of the rail transportation company added 2.7% on the back of better-than-expected quarterly revenue. Refinitiv reported that CSX generated revenue of 3.41 billion, compared to $3.3 billion as expected.
Netflix — Netflix shares fell another 3.7% on Thursday, building on the previous session’s massive drop. Pershing Square’s Bill Ackman wrote to shareholders after Wednesday’s bell that Netflix had been sold by the hedge fund.
— CNBC’s Samantha Subin, Yun Li and Jesse Pound contributed reporting.