At midday trading, several companies have made headlines. Netflix saw a lacklustre 8% decrease after reporting middling quarterly results. Tesla shares experienced a significant 6% drop despite exceeding expectations, due to reduced prices and incentives. American Airlines slipped 6% despite unveiling robust figures for the quarter and reinforcing its full-year 2023 projections. IBM rose 3% after displaying a broadened gross margin and despite failing to reach revenue targets. Johnson and Johnson surged 6%, helping stabilize the Dow Jones Industrial Average with its blockbuster quarterly statistics. Abbott Laboratories increased by 4%, surpassing analysts' expectations for earnings and revenue. Conversely, Discover Financial Services slumped 14% due to missing marks on both top and bottom lines, as well as being the object of a probe by the Federal Deposit Insurance Corporation. Zions Bancorporation rose 8.3% with its aligned earnings per share. Travelers was up 3%, producing 6 cents of adjusted earnings per share and outdoing expectations for revenue. Estée Lauder stumbled 3% after Barclays downscaled its outlook. Freeport-McMoRan increased 3% with 35 cents of earnings per share and surpassing analyst predictions for revenue. Genuine Parts had a 7% drop following its second-quarter report, which consisted of earnings and revenue higher than anticipated, but with revenue from its automotive and industrial segments failing to reach Wall Street predictions. MarketAxess rose 5.6%, although its adjusted earnings did not meet expectations. Lastly, Equifax fell nearly 10%, despite surpassing forecasts for earnings per share, yet having revenue lag behind projections. CNBC's Yun Li, Jesse Pound, Samantha Subin, and Michelle Fox offered contributions to the report.
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