Entrepreneurs

Stocks making the biggest moves midday: AMC Entertainment, Delta, Morgan Stanley and more

Here are the stocks making notable moves on Thursday, July 15:

AMC Entertainment – Shares of the movie theater chain rebounded 7.7% to around $36 apiece after shedding 15% in the previous session. The price of the meme stock has been cut in half from its all-time high of $72.62 in early June. The shares have fallen about 37% in July alone amid a pullback in speculative names. GameStop, the original meme stock, is down nearly 25% this month.

Morgan Stanley – The bank’s shares added 0.2% after the bank’s second-quarter earnings report beat expectations, boosted by strong equities trading and investment banking results. The bank posted earnings of $1.85 per share on revenues of $14.8 billion. Analysts had expected earnings of $1.65 per share on revenues of $13.9 billion.

Delta Air Lines – The airline stock jumped 1.7% after Raymond James upgraded Delta to strong buy from market perform. The investment firm said in a note to clients that there was more clarity about costs after the company’s recent earnings report.

Teleflex – The health care company’s shares fell 9.8% amid concern about a proposed federal reimbursement cut for a Teleflex urology product. KeyBanc said in a note to clients that the proposal “creates additional uncertainty around TFX’s most visible growth driver.”

U.S. Bancorp – Shares of U.S. Bancorp rose 3.2% after the company reported better than expected quarterly earnings of $1.28 per share Thursday morning, beating analysts’ estimates by 14 cents per share. The company also beat revenue estimates, delivering $5.78 billion for the second quarter.

Truist Financial – The bank stock jumped 2.6% after Truist beat expectations on the top and bottom lines for the second quarter, with the release of loan loss reserves boosting profit. The financial company earned $1.55 in adjusted earnings per share on $5.65 billion in revenue. Analysts surveyed by Refinitiv were expecting $1.19 in earnings per share and $5.48 billion in revenue.

American International Group – The insurance stock rose 3.6% after AIG announced a deal with Blackstone to sell its affordable housing assets and an equity stake in its Life & Retirement insurance business to the asset management giant. Blackstone will also become a strategic asset management partner for AIG as part of the deal.

NortonLifeLock – Shares of the cybersecurity company slumped 3.9% after Norton said it was in advanced talks with Avast, a security software company based in London, about a potential acquisition.

-CNBC’s Hannah Miao, Yun Li and Tanaya Macheel contributed reporting.

Become a smarter investor with CNBC Pro
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today.

Checkout latest world news below links :
World News || Latest News || U.S. News

Source link

Back to top button
SoundCloud To Mp3