The China office of the Internet company Microsoft appeared in Shanghai, China on December 8, 2020.
Cost Picture | Barcroft Media | Getty Images
Check out the companies that made the headlines in midday trading.
Technology stocks-Technology stocks fell as the benchmark 10-year US Treasury bond yield hit a high of 1.567% on Tuesday. Twitter Down 4.7%, Microsoft with Google Loss of more than 3%, Sales force Fell 2.6%. Rising bond yields hurt growth stocks such as technology stocks because they reduce the relative value of future earnings. The high-tech Nasdaq index is in its 10day The falling day of the past 15 trading days.
Applied Materials -After the listing of Xinjie, semiconductor stocks fell 6.8% Downgrade stocks From buying to neutral. The Wall Street company cited Applied Materials’ skyrocketing valuation for the downgrade. The other semi-finals also declined, Advanced Micro Devices Decrease by more than 5% Micron Technology, It will report earnings after the bell, which fell more than 2%.
Biological Technology, Modern — After French drugmaker Sanofi, vaccine manufacturers BioNTech and Moderna fell 8.6% and 5.4%, respectively Announced positive results From research on its mRNA-based Covid vaccine. Sanofi said it will stop further development because Pfizer and Moderna have already dominated the market well. Instead, it will focus on using mRNA technology for other vaccines and work with GlaxoSmithKline to develop a protein-based Covid vaccine.
FuGuo bank — After Morgan Stanley, Wells Fargo shares fell 4.2% Downgrade stocks On the grounds of continuing regulatory challenges, from overweight to equal weight.The call was made after Fed Chairman Jerome Powell Said last week The central bank will maintain its $1.95 trillion asset cap on Wells Fargo, “until the company fully resolves the problem.” Morgan Stanley predicts that overcoming these regulatory issues will increase Wells Fargo’s expenses.
Huntsman — After the radical hedge fund Starboard Value, the chemical manufacturer’s stock rose by more than 7% Holds 8.4% of the shares According to the “Wall Street Journal” report, in the company. According to the “Wall Street Journal” report, Starboard said its stock price is undervalued and it will promote changes to improve its stock performance.
United Natural Foods Corporation — The food distributor soared more than 20% after the company reported quarterly earnings of $1.18 per share, exceeding the consensus estimate of 80 cents per share. Income is lower than generally expected. According to reports, the company saw strong customer demand for the pandemic in the same quarter a year ago.
Raytheon Industries — The automaker’s stock price rose 7.6% after the company reported quarterly earnings of $4.12 per share, higher than analysts’ expectations of $2.92 per share. Revenue also exceeded Wall Street’s forecast. Thor mentioned the continued demand for RVs and said that the backlog is at a record high.
Fact set — The stock price of this financial data and software company rose by more than 4% after exceeding the top and bottom lines of its quarterly performance. FactSet reported earnings per share of US$2.88 and revenue of nearly US$412 million. According to data from Refinitiv, Wall Street expects revenue of US$2.72 and revenue of US$405 million.
Energy stocks-Energy stocks continued to rise. International oil benchmark Brent crude oil and US benchmark West Texas Intermediate crude oil futures rose after falling on Tuesday. Cabot Oil and Gas Company with West Marex Each increase by more than 1%. Halliburton Up nearly 2%.
— CNBC’s Maggie Fitzgerald and Yun Li provided reporting
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