A man walks past a Wells Fargo Bank branch on a rainy morning in Washington.
Gary Cameron | Reuters
Check out the companies that are owners in the noon trade.
Wells Fargo – Bank shares rose more than 5% after Bloomberg News reported that Fed officials had told Wells Fargo they would approve their review plan. Wells Fargo has been operating under several restrictions, including an asset field, related to its fake accounts scandal under previous leadership.
Shopify: The shares of the e-commerce company fell by about 5%, even after earning profits and revenue. Shopify earned $ 1.58 per share adjusted during the fourth quarter, surpassing the consensus estimate of $ 1.26, according to Refinitiv. The company has been one of the biggest winners of the pandemic, as companies tried to move operations online. Shares soared 184% in 2020 and another 21% this year.
Palantir: Shares of tech company rose nearly 3% Wednesday after an upgrade by Goldman Sachs. The investment firm updated the shares to buy from neutral, saying the visibility of the company’s growth is improving and praising its efficiency. The rise comes after a drop of more than 12% on Tuesday following Palantir’s latest quarterly report.
Chevron, Verizon: Shares of Chevron and Verizon rose nearly 2% and more than 4%, respectively, after SEC filings revealed Warren Buffett’s Berkshire Hathaway bought a 4.1 stake $ 1 billion in Chevron and $ 8.6 billion in Verizon shares during the fourth quarter.
La-Z-Boy: Furniture manufacturer shares fell more than 8% after the company said its third-quarter results were declining year after year due to the impacts of Covid-19. During the period, the company reported a 74 percent profit without shares, with revenue of $ 470.2 million. There were too few analyst estimates for any kind of consensus reading on the street. The company also announced that its CEO will retire as of April 25th.
Vir Biotechnology – Vir Biotechnology shares appeared close to 11% after the announcement that its association of Covid-19 antibodies with GlaxoSmithKline will expand in search of therapies for other diseases.
DoorDash: Food Delivery Service shares fell more than 6% in the midday trading, even after the SEC filing showed that Tiger Global Management Fund bought more than a million shares. DoorDash shares in the fourth quarter.
Choice Hotels International: Hotel shares fell more than 2.8% after the company reported loss of revenue. Choice Hotels earned $ 51 cents in the fourth quarter, below a Factset estimate of $ 64. However, their income exceeded expectations.
AIG – The shares of the insurance giant rose about 1.6% after its better-than-expected quarterly results. According to Refinitiv, AIG reported earnings of 94 cents per share, one cent above estimates.
SolarEdge Technologies: The solar power company’s shares rose about 1% in the noon trade, after posting stronger-than-expected quarterly results. SolarEdge earned 98 cents per share, beating Refinitiv’s estimate by 11 cents. The company added that it expects better sales this quarter in the United States.
– with reports from Jesse Pound, Pippa Stevens, Yun Li and Rich Mendez from CNBC.