Stocks making the biggest moves midday: Nike, Tesla, JPMorgan, American Airlines & more

Market Insider

Take a look at the stocks making notable moves in midday trading.

Nike — Shares of the shoe giant popped more than 4% after Nike reported strong quarterly earnings that showed digital bets paying off. Nike reported earnings of 78 cents per share on revenue of $11.24 billion. Analyst expected earnings of 62 cents per share on revenue of $10.56 billion, according to Refinitiv. Nike’s stock hit an all time high earlier in the session on Monday.

Tesla – Shares of the electric vehicle company slid more than 5% during the company’s first day of trading as a member of the S&P 500. Tesla joined the benchmark index prior to the open on Monday, carrying a weighting of 1.69%

JPMorgan, Goldman, Morgan Stanley — Shares of U.S. big banks jumped in unison after the Federal Reserve announced Friday that it will allow the industry to resume share buybacks in the first quarter of 2021 following a second round of stress tests. JPMorgan popped 3.8%, while Goldman Sachs and Morgan Stanley rallied 6.2% and 4.5%, respectively. The announcement signaled that officials are increasingly satisfied with the amount of capital the largest U.S. banks have been able to compile over the course of 2020.

American Airlines, Carnival, Royal Caribbean — Shares of airlines and cruise line operators sold off after a new variant of Covid-19 found in the U.K. and South Africa prompted travel restrictions by more than two-dozen countries. Norwegian and Royal Caribbean each dropped more than 3%. American Airlines slid 5.2%, while United Airlines fell more than 4%. British Health Secretary Matt Hancock said Sunday the new, highly contagious strain was “out of control” and suggested it could be months before strict restrictions would be allowed to end.

Royal Dutch Shell — The U.S.-traded shares of the European energy giant shed 5% after Royal Dutch Shell announced its updated fourth quarter outlook. The update included an estimate of charges between $3.5 billion and $4.5 billion related to impairment, restructuring and onerous contracts.

RealPage — The tech stock jumped nearly 30% after RealPage announced that was being acquired by investment firm Thomas Bravo in a deal worth about $10 billion. RealPage’s management team will continue to run the company, according to the announcement.

FactSet — Shares of financial data and marketing analytics company lost about 4.5% despite reporting better-than-expected earnings. FactSet reported earnings of $2.88 per share on revenue of $388 million. Wall Street forecast earnings of $2.75 per share on revenue of $387 million, according to Refinitiv. The company reaffirmed its forward guidance.

Callaway Golf – Callaway Golf slid more than 3% following a downgrade to neutral from buy at Compass Point. The firm said the downgrade was based on valuation, noting that the stock has now met Compass Point’s price objective. The firm did, however, raise its target to $24 from $23.50.

Rent-A-Center — Shares of the rent-to-own company jumped 9% and hit their highest intraday level since 2013 after Rent-A-Center announced that it was acquiring financial technology company Acima. The cash and stock deal is worth roughly $1.6 billion, according to the announcement.

Lockheed Martin – Shares of the defense contractor slid more than 1% after the company announced plans to buy Aerojet Rocketdyne Holdings for $56 per share. The deal price represents a 33% premium to the rocket engine maker’s Friday closing price. Shares of Aerojet Rocketdyne Holdings jumped 22%.

— CNBC’s Maggie Fitzgerald, Pippa Stevens and Yun Li contributed to this story.

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