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At midday, investors were taking note of the latest news out of various companies. JPMorgan Chase saw its stock dip slightly even though the bank reported second-quarter results that exceeded expectations thanks to higher interest rates and strong bond trading. Wells Fargo rose following its own second quarter earnings beat. UnitedHealth surged nearly 7% after its second quarter earnings topped the estimates, and the company also raised its full-year guidance. Citigroup was down 2% in spite of the fact that it beat earnings and revenue expectations, with a 1% year-over-year decline attributed to markets and investment banking businesses. JetBlue Airways and American Airlines shares dropped more than 2% after their partnership ended. Microsoft was up 2% after UBS gave the software stock a buy rating, AT&T dropped almost 5% due to competition concerns, State Street fell 9.5% after its second-quarter revenue fell short, Blackrock lost 2% following its own earnings report, Alcoa went down 4.9% after a JPMorgan downgrade, Progressive slid 1.5% due to growth worries, and Eli Lilly climbed 3% after its announcement of a $1.9 billion acquisition.
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