Signage at the 23andMe headquarters in Sunnyvale, California, on Wednesday, January 27, 2021.
David Paul Morris | Bloomberg | Getty Images
Check out the companies that made the headlines in midday trading.
JB Hunt Transportation Services — JB Hunt’s stock price rose by more than 9% after the company’s top and bottom lines exceeded expectations in the third quarter. The Arkansas-based shipping company had revenue of $3.14 billion in the quarter and earnings per share of $1.88. Analysts surveyed by Refinitiv expect earnings per share of $1.77 and revenue of $3.01 billion.
Paper stocks-After KeyBanc pointed out that the third quarter carton shipment data released on Friday were flat on an annual basis, the stock prices of paper and packaging suppliers fell the most in the S&P 500 index. International Paper fell nearly 4.8%, and WestRock fell about 3.8%. American packaging companies fell nearly 3%.
Goldman Sachs-After the bank’s third-quarter earnings fell short of expectations, Goldman Sachs shares rose more than 2%. Goldman Sachs reported earnings per share of US$14.93 and revenue of US$13.61 billion. Refinitiv’s data shows that analysts expect earnings per share of 10.18 US dollars and revenue of 11.68 billion US dollars. The company’s investment banking income soared by nearly 90%.
PNC Financial — Although PNC’s third-quarter adjusted earnings per share and revenue exceeded expectations, banking stocks still fell 1.8%. According to StreetAccount’s data, the company’s net interest income in the third quarter was indeed lower than expected.
Charles Schwab — The brokerage company reported quarterly earnings that exceeded analyst expectations, and its stock rose 2.3%. Schwab recorded 84 cents per share, compared to expectations of 81 cents per share, revenue of US$4.57 billion, and revenue of US$4.52 billion.
Virgin Galactic-The space travel company postponed space flight tests until after 2022, and its stock price has fallen by nearly 15%. Bank of America lowered Virgin Galactic’s target stock price from $25 per share to $20 per share, and maintained an underperform rating on the stock, citing the company’s “increased uncertainty and lack of clarity” around the changes.
Corsair Gaming — Corsair’s stock price fell more than 6% after the video game-related peripheral product manufacturer said supply chain issues are affecting sales, but 2021 will still be a “strong year of growth.”
Alcoa—After the company’s third-quarter results were announced, the aluminum producer’s share price rose by more than 14%. Alcoa’s earnings per share were US$2.05, excluding projects with revenue of US$3.11 billion. Analysts surveyed by Refinitiv expect the company’s earnings per share to be $1.80 and revenues of $2.93 billion.
23andMe — After Eric Jackson of EMJ Capital stated that this was one of his stock picks and should be regarded as a treatment company and subscription service, the DNA genetic testing company’s stock price soared by 16%, which may herald the future increase.
— CNBC’s Jesse Pound, Yun Li, Pippa Stevens and Hannah Miao provided reporting
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