Shoppers shop at AT&T at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.
Mark Makela | Getty Images
Check out the companies making the biggest moves of the afternoon:
news corp, Fox — News Corp gained 5.4% and Fox News gained more than 2% behind Rupert Murdoch canceled the merger plans two companies.
related investment news
ATT — The telecom giant rose 5.4% after reporting more wireless subscribers than expected for the fourth quarter.
boeing– The air carrier fell a little later reported a loss for the fourth quarter and income that missed expectations, citing labor and supply tensions that overshadowed rising reactive demand.
Sunny — The solar company fell 8.6% after being downgraded from overweight to equal weight by Barclays, indicating a potential slowdown in solar demand. SunPowerdowngraded from equal weight to underweight, down more than 2%.
the alphabet — Shares fell 3.3% in midday trading a day after the Justice Department filed a second antitrust lawsuit Against Google. the alphabet too He fired 1800 workers Wednesday was announced last week as part of larger cuts in California.
Focus on energy — Solar stock down 5.3% after Piper Sandler downgraded from buy to neutral. The firm noted a potential reset in the U.S. residential solar market this year, despite noting the company’s strong product and management.
US Bancorp — The stock gained 5.7% after US Bancorp reported fourth-quarter earnings of $1.20 excluding items, versus the $1.12 expected by StreetAccount. However, revenue missed estimates.
Intuitive Surgery — The maker of robotic surgical systems saw shares fall 6.6% after the company reported fourth-quarter earnings and revenue that fell slightly short of expectations. The company cited the resurgence of Covid-19 in China as a negative impact on procedure volumes in the region.
Capital One Financial — The bank rose 7% despite reporting disappointing quarterly results. However, Capital One grew its loan reserves by $1 billion in the fourth quarter, double that of its peers, BMO Capital Markets noted. “We welcome COF to do what its peers haven’t until this earnings season: temporarily ahead of the credit cycle,” the firm said.
Nasdaq — The exchange operator fell more than 6.9% after StreetAccount reported net income of $906 million versus $909.5 million expected. Earnings also narrowly missed expectations.
General dynamics — The aerospace and defense company fell 3% after reporting fourth-quarter profit that missed expectations, although revenue beat estimates. General Dynamics also said its guidance per share for fiscal 2023 was $12.60 to $12.65, versus $13.87 expected by StreetAccount.
block — Block down 4.2% after Oppenheimer lowered the stock to perform from surpassing. The firm said the mobile payments fund would be the first mover in environmental risk, but expects the stock to have yet to bottom out. “[Thus] we may see the recent SQ rally evaporate (up 43% over the past three months),” Oppenheimer said.
airbnb — Airbnb shares fell 1.6% after analysts Gordon Haskett. downgraded the company Underperforming expectations, citing Wall Street’s overly aggressive estimates.
NextEra Energy — The stock fell 6.1% after the alternative energy company reported fourth-quarter revenue that missed expectations.
— CNBC’s Sarah Min, Carmen Reinicke, Tanaya Macheel, Alex Harring and Michael Bloom contributed reporting.
