Stocks that have made the biggest gains, take a look at the companies making news in midday trading on Thursday.
United Airlines Stocks
The airline’s stock rose 9.3 percent after the company said it expects to return to profitability in 2022 as travel recovers. United’s upbeat guidance was based on a strong increase in bookings and a willingness among passengers to pay more to travel.
American Airlines Stocks
The country’s largest airline’s stock gained 3.8 percent after the firm forecasted a pretax profit in the second quarter, owing to robust reservations that helped it overcome rising fuel costs. American claimed that sales topped 2019 levels for the first time since the Covid epidemic began in March, and that bookings are still increasing.
Blackstone Stocks
On both the top and bottom lines, Blackstone outperformed analyst expectations in the prior quarter. However, after increasing early in the day, the stock of the private equity firm fell 6.5 percent.
AT&T Stocks
Following the release of its first-quarter results, the telecom behemoth gained 4%. AT&T reported $38.1 billion in consolidated revenue and 65 cents in earnings per share for the quarter, which includes results from WarnerMedia, which was recently spun off. AT&T’s communications sector, which includes its mobile phone service, generated $28.9 billion in revenue, up 2.5 percent year over year.
Tesla Stocks
Tesla stock soared 3.2 percent after the electric vehicle manufacturer outperformed Wall Street expectations on the top and bottom lines, as well as seeing an increase in car deliveries in the first quarter. Analysts were upbeat about the announcement, with one describing Tesla as a “must own.”
Xerox Stocks
Xerox’s stock dropped 15.7 percent after the company revealed lower-than-expected results. The company earned 12 cents per share, which was a penny less than the Refinitiv consensus. Inflationary pressures and supply chain concerns harmed the office equipment manufacturer, according to the company.
Dow Inc. Stocks
On the back of better-than-expected quarterly results, the chemical company’s stock rose 2.9 percent. Dow Inc. reported adjusted earnings of $2.34 per share on revenue of $15.26 billion in the first quarter. Analysts had predicted a profit of $2.06 per share on $14.54 billion in revenue.
Carvana Stocks
The online auto retailer’s stock fell 10.1 percent after the firm disclosed a larger-than-expected loss per share in the prior quarter. Carvana lost $2.89 per share, vs a $1.44 loss per share projected by analysts polled by Refinitiv.
CSX Stocks
On the heels of better-than-expected quarterly revenue, the rail transportation company’s stock rose 2.8 percent. According to Refinitiv, CSX made $3.41 billion in revenue vs $3.3 billion projected.
Netflix Stocks
On Thursday, Netflix shares plunged another 3.5 percent, adding to the previous session’s huge decline. In a shareholder letter sent after the bell on Wednesday, Pershing Square’s Bill Ackman revealed that the hedge fund had sold its entire interest in Netflix for a loss.
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