BlackRock, Vimeo, Delta, Moderna, etc.

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Delta Air Lines Airbus A330-300 landed at Athens International Airport AIA, LGAV / ATH Eleftherios Venizelos, registration number N806NW, a former Northwest Airlines aircraft.

Nicholas Economu | NurPhoto | Getty Images

Check out the companies that made the headlines in midday trading.

BlackRock-The asset management giant’s share price rose 3.6% after BlackRock’s third-quarter revenue and profits exceeded expectations. The company reported earnings per share of US$10.95 and revenue of US$5.05 billion, driven by the increase in expense income. Analysts surveyed by Refinitiv expect earnings per share of $9.35 and revenue of $4.9 billion.

JPMorgan Chase-Although JPMorgan Chase’s quarterly profit was better than expected, its stock price fell by 2.6%. In terms of assets, the income of the largest US bank was also higher than expected. The stock has risen by more than 26% this year. Other bank stocks also fell ahead of earnings reports later this week. Bank of America fell more than 1%, Wells Fargo fell 1.9%, and Citigroup fell about 1%.

Delta Air Lines-Delta Air Lines’ stock price fell more than 5% after the company announced its quarterly financial results. Since the beginning of the pandemic, the company’s reported revenue and first-quarter profit have been higher than expected and have not been included in federal aid. However, the airline said that rising fuel costs and other expenses will put pressure on its fourth-quarter earnings. Other airlines have also retreated. American Airlines fell 3.2% and United Airlines fell about 4%.

Moderna — The vaccine manufacturer’s stock price rose by more than 4% before the first step of the US Food and Drug Administration to determine whether a booster dose of its Covid vaccine should be allocated. The federal agency will hold an advisory committee meeting later this week to discuss the matter. On Tuesday, FDA scientists stated that data showed that two doses of vaccine were still sufficient to prevent serious illness and death in the United States, and refused to take a stand on whether to support enhanced injections.

Advanced Micro Devices-The chip maker rose 3.7% and was one of the biggest gainers in the Standard & Poor’s 500 Index on Tuesday. The move was carried out in the context of continued global chip shortages, despite the recent weakness of other chip stocks. Xilinx, which AMD plans to acquire, also rose 3.7%.

Apple-After Bloomberg reported that the company would cut its iPhone production due to chip shortages, Apple’s stock price fell by more than 1%.

Plug Power-The hydrogen fuel cell manufacturer’s share price rose more than 11% after announcing a partnership with aircraft manufacturer Airbus to decarbonize air travel and airport operations. It plans to make the US airport the first “hydrogen hub” pilot airport.

Vimeo-The video platform company rose 12% after publishing its monthly indicators for September, revenue increased 33% from the previous year, and average revenue per user increased 16%. Wells Fargo has also begun to carry out an overweight rating on the stock.

Monster Beverage-Energy drink maker Monster’s share price fell 3.1% after an analyst at Jefferies downgraded the stock from buy to hold and lowered its target price from US$113 to US$92.

WestRock — After Truist began to cover the stock with a hold rating, the paper and packaging company fell 3.2% and set its target price at $47, with an implied downside of 8%.

Sarepta Therapeutics-Biotechnology company Sarepta’s share price fell more than 11% after issuing guidance that was lower than analyst expectations and announcing the issuance of $500 million in stock.

If you want to know more about business please go to https://updatednews24.com/category/business/

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