Check out the companies making headlines in midday trading. United Airlines — The airline stock dropped 9.7%. On Tuesday, the company warned that pricier jet fuel and a halt to the carrier’s Tel Aviv flights during the Israel-Hamas war will eat into its profits in the last three months of the year. United Airlines and other U.S. and international carriers halted their flights to Israel earlier this month. Nvidia — The chipmaker slumped 4% a day after the U.S. announced plans to tighten restrictions on artificial intelligence chips sold to China. Citi also trimmed its price target on the stock, citing heightened risks from the export curbs. Advanced Micro Devices and Marvell Technology lost 2.8% and 3.2%, respectively. Morgan Stanley — The bank stock slid nearly 7% after the firm’s wealth management division posted disappointing results . The division generated $6.4 billion in revenue, below the estimate by more than $200 million, as compensation costs rose and net interest income fell. Morgan Stanley did top profit estimates for the quarter on better-than-expected trading revenue. J.B. Hunt Transport Services — The transportation stock shed 8.9%. Late Tuesday, the company posted third-quarter results that fell short of Wall Street’s expectations on the top and bottom lines. J.B. Hunt reported earnings of $1.80 per share on $3.16 billion in revenue. Analysts polled by LSEG, formerly known as Refinitiv, had anticipated EPS of $1.84 on $3.19 billion in revenue. Interactive Brokers — Shares of Interactive Brokers slumped roughly 4% even after the electronic broker posted better-than-expected quarterly results. The company posted third-quarter adjusted earnings of $1.55 per share on adjusted revenue of $1.14 billion. That topped the earnings of $1.51 per share and $1.11 billion in revenue expected by analysts polled by LSEG. Procter & Gamble — Procter & Gamble shares rose about 2.6% after the maker of household goods reported quarterly earnings that…
Read the full article here
Leave a Reply