Twitter, Johnson & Johnson, WeWork and more
Vials labeled “Coronavirus COVID-19 Vaccine” and syringes are seen in front of the Johnson & Johnson logo shown in this illustration taken, February 9, 2021.
Dado Ruvic | Reuters
Check out the companies that hit the headlines in Tuesday’s midday trading.
Johnson & Johnson – Shares of the pharmaceutical and consumer giant rose 3% after the company beat its first-quarter earnings expectations report. However, J&J downgraded its full-year revenue and earnings outlook and stopped providing guidance on Covid-19 vaccine sales due to a global supply surplus and uncertain demand.
Twitter – Shares of the social media giant drop 1% because of the news Apollo Global Management Reportedly under review funding a potential Twitter takeover. To be sure, the company is not interested in entering a private equity firm in an acquisition bid. Shares of Apollo rose 2.8% following the report.
Airline stocks – Airline stocks rise after The Transportation Security Administration says it no longer enforces mask regulations on the plane. The news comes after a federal judge in Florida ruled that the CDC had exceeded its authority with the mandate. Shares of Delta, United Airlines and American Airlines increased by 3.1%, 4% and 5.7% respectively.
Slat – Blackstone shares are up 4.6% over believe it will buy the student housing company Community Campus USA in a deal worth nearly $13 billion. Shares of American Campus jumped 12.7% on the news.
Halliburton – Shares of the oilfield services giant fell 1% even after Halliburton beat estimates for its latest quarter and lifted its North American customer spending outlook for the year.
Citizen Finance – The bank posted better-than-expected quarterly results, sending its shares up more than 7%. Citizen reported a profit of 93 cents per share on revenue of $1.65 billion. Analysts expected earnings of 92 cents per share on revenue of $1.64 billion, according to Refinitiv. The company’s net profit margin also beat analyst expectations.
Traveler – The insurer reported better-than-expected profit and revenue for the previous quarter, thanks in part to a drop in catastrophic losses, but shares fell more than 5%. Piper Sandler noted that the company’s “fundamental margin was worse than expected” for the quarter.
We work – WeWork shares rose 11.9% after Piper Sandler started reporting on office sharing company with redundant ratings. Analysts say WeWork is nearing profitability as its focus on balance sheets and the popularity of flexible work continues to grow.
Lululemon – Shares of clothing retailer up nearly 5% after Truist upgrade Lululemon to buy from the middle. Analysts are expecting a “strong” five-year outlook at Lululemon’s upcoming analyst day with more details on new products and plans for international expansion. Truist also believes that the company can more easily pass higher costs on to consumers in an inflationary environment.
Plug in power – Plug Power shares rose 9.3% that the company announced the partnership Walmart to provide green liquid hydrogen.
Hasbro – Shares of Hasbro rose 4.5% after the bread machine maker reported higher-than-expected revenue last quarter. Sales from the company’s consumer products segment also topped analyst expectations.
– CNBC’s Yun Li, Hannah Miao and Sarah Min contributed reporting