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Micron, Ford, Southwest & more

Check out the companies making headlines midday Thursday:

Southwest Airlines — The company’s stock rose more than 4 percent after the release of stronger-than-expected quarterly earnings. The company also said Thursday it has lost $10 million to $15 million this month due the partial government shutdown.

Union Pacific Corporation — Shares of Union Pacific jumped 3 percent after the railroad reported adjusted earnings of $2.12 per share , easily topping an estimate of $2.06 per share. The company also beat on the top line with sales of $5.757 billion against consensus estimates of $5.74 billion.

Canada Goose — Shares of apparel maker Canada Goose dropped more than 10 percent after an analyst at Wells Fargo downgraded them to market perform from outperform. The analyst cited a high valuation among the reasons for the downgrade.

American Airlines — The airline company’s shares jumped Thursday after it projected higher 2019 profits than Wall Street expected and reported fourth-quarter profit that topped estimates. American also said its revenue for each seat it flies a mile will be flat to up 2 percent in the first quarter of the year.

Freeport-McMoRan — Freeport-McMoRan dropped more than 9 percent after the company’s quarterly earnings missed expectations. The company said its results were affected by a drop in copper prices in the fourth quarter.

Xilinx, Lam Research and Applied Materials — Chipmakers including Xilinx, Micron and Lam Research led the S&P 500 higher Thursday as impressive earnings and revenue results at a number of semiconductor companies buoyed the group. Nvidia rose 4.7 percent, while the VanEck Vectors Semiconductor ETF rose more than 5 percent by 11:30 a.m. ET.

Ford Motor Company — Shares of the longtime automaker rose 3 percent after the company posted stronger-than-expected sales in the fourth quarter. Ford stock was one of the most active on Wall Street by midday as investors grappled with slowing sales in all regions outside North America and mounting cost issues.

McCormick — McCormick’s stock declined 12.8 percent on the back of weaker-than-expected earnings. The spice maker posted adjusted earnings per share of $1.67, while analysts expected $1.70. McCormick also issued disappointing guidance for fiscal year 2019.

source : CNBC

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