Stocks making the biggest moves midday: Boeing, Dollar General, JPMorgan Chase, Netflix and more
![](https://www.newspostalk.com/wp-content/uploads/https://image.cnbcfm.com/api/v1/image/107259370-1687276601125-gettyimages-1258839156-AFP_33KF46N.jpeg?v=1697218074&w=1920&h=1080)
[ad_1]
Check out the companies making the biggest moves midday. Boeing — Shares of the aerospace company slipped 3%. On Thursday, Boeing said it was expanding the scope of its ongoing inspection into a production defect on some aft pressure bulkheads on the 737 Max 8 aircraft. Spirit AeroSystems , which builds the fuselages, was down1% Dollar General — Shares of the discount retailer rallied 9% after it announced late Thursday it was bringing back former CEO Todd Vasos to lead the company. On Friday, Gordon Haskett upgraded the stock to buy , saying Dollar General’s latest leadership change could help stabilize the company. JPMorgan Chase — The country’s largest bank saw shares rise roughly 3% after it reported third-quarter financial results , boosting its profit 35% from a year earlier to $4.33 per share, a figure not immediately comparable to LSEG estimates. Revenue came in at $40.69 billion for the quarter, compared to the LSEG estimate of $39.63 billion. Wells Fargo — The bank stock gained close to 3% after Wells Fargo posted third-quarter results that beat expectations. Revenue came in at $20.86 billion, versus $20.11 billion estimated by analysts polled by LSEG. Its earnings per share was $1.48, or $1.39 per share, excluding discrete tax benefits. It was unclear what the exact comparable number was to estimates, but both figures were higher than the LSEG consensus of $1.24. Citigroup — Shares of the New York-based bank rose 1.4% after posting its third-quarter results . Citigroup reported $1.63 in earnings per share, or $1.52 per share, excluding the effect of divestitures. Analysts surveyed by LSEG were expecting $1.21 per share, though it is unclear if that number accounts for the divestitures. On the revenue front, Citigroup generated $20.14 billion, compared to $19.31 billion expected. PNC Financial Services — Shares shed 3% after reporting mixed earnings for its third quarter. Its revenue of $5.23 billion came in below the consensus estimate of $5.32 billion, per LSEG. However, PNC earned $3.60 per share, topping the $3.11 per share expected. Oil stocks — Shares of oil companies rallied as crude prices climbed over 4% Friday. Marathon Oil and EOG Resources each advanced more than 4%. ConocoPhillips rose 3.8% and Exxon Mobil moved 3.3% higher. Progressive — The insurance stock added 7.5% after it reported $15.59 billion in net premiums written for the third quarter, topping StreetAccount estimates of $15.38 billion. Its September net premiums written also beat expectations. JD.com — The Chinese e-commerce company slid 3.7% Friday and hit a new 52-week low. Morgan Stanley downgraded shares to equal weight from overweight in a client note, citing weak consumption trends in China. Post Holdings — Shares of the packaged food company gained 2% after JPMorgan initiated coverage with an overweight rating on shares. The firm cited Post’s strong free cash flow conversion rate. Netflix — Netflix shares fell close to 2% after Wolfe Research downgraded the streaming stock to peer perform from outperform, citing concerns related to the company’s growth forecast. UnitedHealth Group — Shares of the health insurance giant gained 2% on better-than-expected earnings. The company posted adjusted earnings of $6.56 per share on revenue of $92.4 billion, while analysts polled by LSEG had expected earnings per share of $6.32 on revenue of $91.37 billion. UnitedHealth has the highest share price of any Dow stock, giving it the most influence over the benchmark’s performance. Hormel Foods — The stock fell nearly 3%. This week, the United Food and Commercial Workers International Union ratified a new contract with Hormel Foods, which includes hourly wage increases of $3 to $6 an hour. — CNBC’s Hakyung Kim, Samantha Subin, Pia Singh, Tanaya Macheel and Jesse Pound contributed reporting.
[ad_2]
Source link