American flags outside the headquarters of Goldman Sachs Group Inc. in New York on Friday, March 5, 2021.
Michael Nagle | Bloomberg | Getty Images
Check out the companies that are making headlines in mid-day trading.
Goldman Sachs – New York Bank shares fell 2.3% in midday trading after the company released First quarter Earnings per share of $ 18.60 – defeating the estimate of $ 10.22 by analysts surveyed by Refinitiv – and revenue of $ 17.7 billion have more than doubled year over year. According to its last reading, Goldman stocks have been on their way since January.
Coinbase – On your first trading dayCoinbase was up 31.3% and trading at around $ 420 per share. Coinbase shares opened Wednesday morning on Nasdaq at $ 381, giving the cryptocurrency exchange an initial market cap of $ 99.6 billion with full dilution.
Bed bath in addition – The big box retailer’s shares fell 12.2% after the company a double-digit decline in sales in the fourth quarter of the financial year. Adjusted earnings per share were 40 cents compared to 31 cents expected by Refinitiv. Ongoing closings and divestments of stores as part of a larger turnaround plan continued to weigh on Bed Bath & Beyond’s results.
Wells Fargo – Bank stocks rose 5.6% on Wednesday after Wells Fargo reported better-than-expected first-quarter results and the company’s management expressed optimism about a recovery in commercial credit. The bank reported earnings per share of $ 1.05 and revenue of $ 18.06 billion. Analysts surveyed by Refinitiv searched for 70 cents per share and $ 17.5 billion in revenue.
Moderna – The shares of the pharmaceutical manufacturer fell by 6.9% after Moderna said his Covid-19 vaccine was more than 90% effective in protecting against the virus six months after a person’s second shot. The data was based on more than 900 cases of the virus.
JetBlue – The airline’s share price rose 0.3% after a bullish call from JPMorgan. The Company upgraded twice the stock from an underweight rating to an overweight rating, citing cost control measures and an attractive valuation. JPMorgan also raised its price target for the airline from $ 15 to $ 25. The new target is 20% above where the stock closed on Tuesday.
Harley Davidson – The motorcycle maker’s shares rose 1.1% but closed lower according to Bank of America initiated Reporting the stock with a buy rating, saying it sees “accelerating brand momentum”. The company said it was optimistic about the prospect of adventure touring in Harley-Davidson’s future.
Grab it – Snap gained 2% but closed lower after Wedbush presumed coverage on the company with an outperform rating. The company said Snap had an innovative platform with a young audience and pointed to opportunities in augmented reality and social commerce. Wedbush’s 12-month target price of $ 75 suggests a 20% rally from Tuesday’s closing price.
Occidental Petroleum – The shares of the hydrocarbon exploration company gained 5.2% according to MKM partners updated Buy Occidental Petroleum from Neutral. The Wall Street company said investors should take advantage of the stock pullback.
discovery – The media company’s shares then fell 5% CNBC reported that Credit Suisse is still discharging its position in the wake of the chaos of Archegos Capital Management. According to people familiar with the matter, the bank sold 19 million Discovery Class A shares on Tuesday.
JP Morgan – JPMorgan stocks were down 1.9% even after the bank reported profits and sales that exceeded analysts’ expectations for robust trading results. The strong result was also aided by a $ 5.2 billion advantage from the release of funds previously earmarked for undeveloped credit losses. The bank posted earnings of $ 14.3 billion, or $ 4.50 per share, for the first quarter, including earnings of $ 1.28 per share from the reserve release, which was expected above analysts polled by Refinitiv $ 3.10 per share. The stock is up more than 20% in 2021.
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– with reports from Yun Li, Jesse Pound, Tom Franck and Pippa Stevens from CNBC.