An ASL Airlines Boeing 737-400 freighter lands at Milan Malpensa Airport.
Fabrizio Gandolfo | LightRocket | Getty Images
Check out the companies that are making headlines in mid-day trading.
Boeing – – The Boeing share gained almost 3% in midday trading Reuters reported The aircraft manufacturer discussed increasing the 737 MAX performance to up to 42 jets per month by the end of 2022. The news comes as Boeing tries to recover from safety issues and the Covid pandemic.
Deere – – The farm equipment maker’s shares rose nearly 2.5% after beating the income statement for its quarterly results. Deere reported earnings of $ 5.68 per share on sales of $ 11 billion. Wall Street forecasts earnings of $ 4.52 per share on sales of $ 10.44 billion, according to Refinitiv.
AT & T. – – The telecommunications company’s share price rose more than 1%, rising for the second year in a row, after falling earlier this week following the announcement of a spin-off deal with WarnerMedia and Discovery. UBS updated The stock, which was supposed to be bought by Neutral on Friday, said the stripped-down company had a clearer path to improving cash flow growth.
VF Corp. – – The clothing name’s shares fell more than 7% after the company’s fourth quarter results. The parent company of North Face, Timberland and Vans had sales of $ 2.58 billion, which was higher than the $ 2.5 billion analyst surveyed by Refinitiv. The bottom line, however, was that the results missed the estimates: The company earned 27 cents per share excluding items, two cents less than the expected profit of 29 cents per share.
oats – – Oatly shares were last traded around 7% higher on Friday lunchtime after the oat milk maker debuted Thursday. Oatly’s initial public offering was valued at $ 17 per share, its first trade at $ 22.12, and its closing price on Thursday at $ 20.20.
Deckers – – Retail stocks rose nearly 6% after the growth of Deckers’ Hoka brand helped the company beat expectations for the fourth quarter of the fiscal year. Deckers reported earnings per share of $ 1.18 and revenue of $ 561 million. Analysts surveyed by Refinitiv searched for 64 cents per share and $ 437 million in revenue.
Nvidia – – Nvidia shares rose more than 2% in midday trading after the company announced a 4-for-1 stock split pending shareholder approval. Oppenheimer also reiterated its outperform rating for Nvidia shares. The tech company will show profits on Wednesday.
Palo Alto Networks – – Cybersecurity stock rose 5.3% in midday trading after hitting the road above and below. Palo Alto Networks reported on Thursday Earnings of $ 1.38 per share exceeded analysts’ expectations of $ 1.28 per share. The company also had quarterly revenues of $ 1.07 billion, compared to $ 1.06 billion analysts had expected.
Virgo Galactic – – The shares of the space company then gained more than 5% UBS updated to buy the stock from neutral on Friday. The Wall Street company urged customers to seize the opportunity the company sees when stocks are down nearly 70% from their February highs.
– CNBC’s Yun Li, Pippa Stevens, Maggie Fitzgerald and Jesse Pound contributed to the coverage
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