Stocks making the biggest moves midday: Honeywell, Caterpillar, Meta, First Republic & more
Honeywell International — Shares climbed 3.2% after Honeywell exceeded expectations on the top and bottom lines in its latest quarter. The conglomerate reported adjusted first-quarter earnings of $2.07 per share on revenues of $8.86 billion. Analysts polled by Refinitiv forecasted earnings per share of $1.93 on revenues of $8.52 billion.
Fidelity National Information Services — The financial products company’s stock climbed 3.5% on the back of better-than-expected first-quarter results. Fidelity National earned an adjusted $1.29 per share on revenue of $3.51 billion. Analysts polled by StreetAccount expected a profit of $1.21 on revenue of $3.41 billion.
Southwest Airlines — The airline company’s shares slipped 3.4% following a wider-than-expected loss for the first quarter. The carrier had a meltdown in the final days of December, when it canceled more than 16,000 flights in late December. The incident resulted in a $325 million revenue impact for the first quarter, Southwest said.
Caterpillar – Shares of the construction-equipment manufacturer lost 2.4% the company released its quarterly earnings report. Caterpillar earned an adjusted $4.91 a share last quarter, above the $3.78 that was expected, according to the Refinitiv consensus. Revenue of $15.86 billion also topped expectations.
C.H. Robinson Worldwide — The transportation company gained 8.1%. C.H. Robinson reported an earnings miss on Wednesday, with an adjusted 98 cents per share and $4.61 billion in revenue against estimates of 99 cents and $4.78 billion, according to data compiled by FactSet.
First Republic Bank – The regional bank’s stock rallied 13.1% after tumbling nearly 30% during Wednesday’s session. The slide came as the bank looked for a potential rescue deal.
Teladoc Health — Shares of the telemedicine company jumped more than 6% after the firm reported a revenue beat for the latest quarter. The company also raised the low end of its revenue and adjusted EBITDA guidance. The firm did post a wider than expected loss for the quarter, however.
Hasbro — The toy and entertainment conglomerate saw its stock soar 12.7% after the company’s quarterly revenue beat Wall Street estimates. The result was boosted by a 16% jump in revenue from its “Magic: The Gathering” tabletop and digital game. Jefferies reiterated its buy rating on Hasbro Thursday, seeing big gains thanks to the growth of the game.
AbbVie — Shares shed 8% after reporting an earnings miss in the first quarter. The pharmaceutical company posted adjusted earnings per share of $2.46, while analysts had estimated $2.51, according to StreetAccount.
Comcast – The media conglomerate was up 3.5% after it posted better-than-expected earnings in the first quarter. To be sure, the company reported losses for its Peacock streaming service and a drop in residential broadband subscribers.
Align Technology — Align Technology slid 11.2%. The selloff comes even after the Invisalign maker’s first-quarter earnings and revenue topped expectations. Stifel reiterated a buy rating on the Invisalign maker following the results, but noted investors “wanted more” from the quarterly results. Align shares are up more than 48% this year.
Meta — The Mark Zuckerberg-helmed social media company gained nearly 15%. Meta rallied after reporting an earnings beat a day earlier. The company also noted plans to further investments in artificial intelligence, and Zuckerberg highlighted Meta’s commitment to efficiency going forward. Analysts at some of the biggest firms on Wall Street raised target prices for Meta stock on the report.
eBay – Shares gained 3.9% after the e-commerce company’s first-quarter earnings and revenue topped expectations. EBay posted per-share earnings of $1.11, better than a StreetAccount consensus estimate of $1.07. The company’s revenue of $2.51 billion was also above expectations.
Domino’s — The pizza chain lost 5.7% on the back of mixed quarterly results. The company’s profit of $2.93 per share beat a StreetAccount estimate of $2.72 per share. However, revenue came in roughly in line at $1.02 billion.
United Rentals — Shares fell 5.7% after the company’s first-quarter earnings came in below expectations. United Rentals also reaffirmed its full-year guidance.
Pentair — The water industrial manufacturing company surged 7.6% after reporting an earnings and revenue beat for the first quarter. The company also raised its second-quarter and full-year guidance.
CBRE — Shares of the real estate group soared 8.8% after CBRE’s first-quarter earnings announcement buoyed investor sentiment. The company reported 92 cents earnings per share and revenue of $7.41 billion. Meanwhile, analysts had expected 86 cents earnings per share and $7.09 billion in revenue, per StreetAccount.
