Morgan Stanley, American Airlines, Twitter, Nikola et plus

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Here are the companies making the headlines of noon trading:Morgan Stanley – The bank’s shares rose 4% after announcing solid trading income and better-than-expected profits for the second quarter. CEO James Gorman told CNBC that the bank is well positioned to eventually increase its dividend and resume buyouts in 2021.

Platoon – Shares of the stationary bike maker fell more than 3% following a downgrade to neutral from buying from UBS. The Wall Street firm said the title is fairly valued and UBS sees a limited increase for the title which has already gained more than 120% this year.

Twitter – Twitter dropped more than 1% after several prestigious accounts were hacked as part of a digital currency scam. Tesla CEO Elon Musk, presidential candidate Joe Biden and Microsoft founder Bill Gates accounts.

American Airlines – The airline’s shares have dropped more than 6% after sending warnings of potential leave to 25,000 workers amid declining demand for air travel due to the pandemic. American also announced on Thursday a partnership with JetBlue that will allow airlines to sell seats in their respective aircraft.

Bank of America – The financial institution’s shares were down 2.4% despite higher and lower expectations in the second quarter. Bank of America increased its provisions for credit losses by $ 4 billion and saw interest income drop 11% in the quarter.

Nikola – Shares of the electric vehicle company fell 3.5% after Deutsche Bank started hedging the stock with a holding rating. The bank said in a note that the valuation of the share represented the medium-term potential of the company “without necessarily updating the risks”.

Tesla – The volatile stock of electric vehicles fell more than 4% on Thursday. Citi bank almost doubled its share price target, but the new price was still more than $ 1,000 lower at the close of trading on Wednesday.

Norwegian Cruise Line Holdings – The cruise stock plunged 12% after Norwegian announced a new round of funding to help it stay afloat during the pandemic. The financing includes an offer of secondary shares of $ 250 million.

Alcoa – Shares of the aluminum company rose 6.5% after announcing a smaller than expected loss for the second quarter. The company reported an adjusted loss of 2 cents per share, which was within the range of indications given last week. Analysts polled by Refinitiv expected a loss of 38 cents a share.

Number of beds – Mattress inventory dropped 8.8% after the company announced a 20% year-over-year drop in net sales for the second quarter. The company has not released new guidelines, citing lingering uncertainty caused by the pandemic.

– Maggie Fitzgerald from CNBC and Fred Imbert contributed to this story.

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