Check out the companies that own the noon trade.
UnitedHealth: The shares of the healthcare giant rose more than 3% after the results exceeded street forecasts. Its adjusted earnings reached $ 5.31 per share, surpassing the $ 4.39 per share expected by analysts, according to FactSet. UnitedHealth also raised its earnings guidance for 2021.
Virgin Galactic: Space stocks fell more than 12% and turned negative the year after a presentation showed founder Richard Branson sold more than $ 150 million of the company’s shares over the past three days. Branson, and four controlling entities, including Virgin Group, sold 5,584,000 Virgin Galactic shares between April 12 and 14.
Rite Aid: Pharmacy chain shares fell more than 8% after the company’s fourth-quarter loss was larger than expected. Rite Aid reported a loss of 78 cents per share for $ 5.92 million in revenue. Analysts polled by Refinitiv expected a loss of 76 cents per share and revenue of $ 5.802 billion. The company’s CEO said in a statement that the business was hit by a “historically mild” cold and flu season.
Coinbase: A day after the debut of the cryptocurrency exchange on the Nasdaq, shares rose 1.5%. The company earned a buy rating and a target price of $ 500 per share, which is 50% more than yesterday’s close. The cryptocurrency exchange also won the vote of confidence from popular investor Cathie Wood, the company Ark Invest bought Coinbase worth about $ 250 million on Wednesday.
Charles Schwab: e-broker shares fell more than 3%, despite surpassing the upper and lower lines of first-quarter earnings. Schwab also said it added a record 3.2 million new customers in the first quarter of 2021. The firm added about 2.4 million new accounts throughout 2020, which excludes added accounts from its acquisitions. .
Nvidia: Chip shares rose 4.6% after Raymond James upgraded the company to a strong buy. “Our call … aims to express our conviction in both the short and long term,” the firm wrote in a note to clients. Raymond James also raised his target in shares from $ 700 to $ 750. The new target implies a 23% increase over where the shares closed on Wednesday.
American Eagle: Retailer gained 3.7% after American Eagle said it expects first-quarter revenue to exceed $ 1 billion. The figure is ahead of analysts’ expectations of $ 904.1 million surveyed by Refinitiv. The company told CNBC that it has been strong in its Texan division and that customers have also started buying more tops.
Bank of America: Banking shares fell 2.9%, even after a quarterly report that surpassed Wall Street estimates on investment banking growth and business performance. Some analysts, including Ken Usdin of Jefferies, pointed to higher Bank of America spending during the quarter, while others noted weaker-than-expected loan growth as a source of concern.
– CNG’s Maggie Fitzgerald, Tom Franck, Pippa Stevens and Jesse Pound contributed to the communication.
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