Check out the companies making headlines in midday trading. Microsoft — Shares jumped 2.5% as investors cheered the Xbox maker’s fiscal first-quarter results released Tuesday. Microsoft posted almost 13% year-over-year revenue growth, and its Azure cloud segment saw revenue gain 29% for the quarter. The Windows software maker also posted a rise in profit due to slower operating expense growth. Alphabet — Shares of the Google parent dropped more than 8%, putting it on pace for the worst day in nearly a year, after the dominant search engine owner reported cloud revenue that missed analyst expectations. Norfolk Southern — The freight railroad dropped 5% on the back of disappointing third-quarter earnings. Norfolk Southern earned $2.65 per share, excluding items, while analysts polled by LSEG estimated a profit of $2.69 per share. Revenue was about in line with expectations. General Dynamics — Shares of General Dynamics rose 4.4% after the defense contractor’s third quarter earnings and revenue topped estimates. GenDym posted earnings of $3.04 per share on revenue of $10.57 billion against analyst estimates of $2.91 and $10.05 billion. Snap — Shares of the social media company slid more than 2% at midday. The stock soared as much as 20% postmarket Tuesday after Snap beat third-quarter estimates, but pulled back after management highlighted that the war in the Middle East could impair advertiser spending. Gap — The apparel retailer popped more than 5% midday. Wells Fargo upgraded Gap to overweight, saying the stock is near an inflection point as it improves costs. Boeing — Shares of the passenger plane maker rose about 1% after a mixed earnings report. The company reported a quarterly revenue beat, but a wider-than-expected loss. The aircraft maker raised its 787 Dreamliner production forecast to five per month from four, but trimmed its 2023 guidance for 737 Max deliveries, which was widely expected. Deutsche Bank — The U.S. listed shares of the…
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