A woman walks past the New York Stock Exchange (NYSE) on July 13, 2020 on Wall Street in New York City.
Johannes Eisele | fake pictures
These are the companies that appear in the headlines of the trade at noon:
Morgan Stanley – The bank’s shares rose 4% after it reported strong business income and better-than-expected earnings for the second quarter. CEO James Gorman told CNBC that the bank was well positioned to possibly increase its dividend and resume buybacks in 2021.
Peloton: Stationary bike maker shares fell more than 3% after a downgrade to neutral since the purchase at UBS. The Wall Street firm said the stock is quite valued and that UBS sees a limited rise for the stock that has already gained more than 120% this year.
Twitter: Twitter fell more than 1% after multiple high-profile accounts were hacked as part of a digital currency scam. The accounts of Tesla CEO Elon Musk, presidential candidate Joe Biden and Microsoft founder Bill Gates.
American Airlines – The airline’s shares fell more than 6% after sending warnings to 25,000 workers about possible licenses amid falling demand for air travel due to the pandemic. American also announced a partnership with JetBlue on Thursday that will allow airlines to sell seats on each other’s planes.
Bank of America – Shares of the financial institution fell 2.4% despite exceeding expectations on the upper and lower lines for the second quarter. Bank of America increased its loan loss provisions by $ 4 billion and saw an 11% decrease in interest income during the quarter.
Nikola – Shares of the electric vehicle company fell 3.5% after Deutsche Bank began hedging the shares with a retention rating. The bank said in a note that the valuation of the shares represents the company’s medium-term potential “without necessarily discounting the risks.”
Tesla – The stock of volatile electric vehicles fell more than 4% on Thursday. Citi Bank nearly doubled its price target for the stock, but the new price was still more than $ 1,000 below where trading closed on Wednesday.
Norwegian Cruise Line Holdings: Cruise ship stock fell 12% after Norwegian announced a new round of financing to help it stay afloat during the pandemic. Financing includes a $ 250 million offering of secondary shares.
Alcoa – Shares of the aluminum company rose 6.5% after it reported a lower-than-expected loss for the second quarter. The company reported an adjusted loss of 2 cents a share, which was in the guidance range given last week. Analysts surveyed by Refinitiv expected a loss of 38 cents a share.
Sleep number: Mattress stocks fell 8.8% after the company reported a 20% decrease in net sales year-over-year during the second quarter. The company did not issue a new guide, citing the current uncertainty caused by the pandemic.
– CNBC’s Maggie Fitzgerald and Fred Imbert contributed to this story.
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