See the companies making headlines in midday trading. United Airlines — Shares rose 17.5% after the airline reported a smaller-than-expected first-quarter loss. Quarterly revenue was $12.54 billion, beating LSEG’s estimate of $12.45 billion. Travel Companies – Insurance stocks fell 7.4% after a disappointing first-quarter report. Travelers reported earnings per share of $4.69 on revenue of $10.18 billion. Analysts surveyed by LSEG expected earnings per share of $4.90 on revenue of $10.51 billion. Higher-than-expected losses from the disaster appear to be part of the reason for the drop in earnings. Eli Lilly – Eli Lilly remained steadfast even after announcing that its weight-loss drug Zepbound showed promise in treating patients suffering from obstructive sleep apnea. Shares of ResMed, which makes medical devices to treat sleep and breathing disorders, fell 6% on the news. ASML – Shares of the Dutch semiconductor equipment company’s U.S.-listed shares fell 7.1% after sales and new orders fell short of expectations. Net sales were down approximately 22% year over year. Interactive Brokers – Shares jumped 1.7% after Interactive Brokers reported quarterly results that slightly beat Wall Street expectations. The company also increased its dividend from 10 cents to 25 cents. JB Hunt Transport Services — Shares of the transportation company fell 8% on quarterly results that fell short of Wall Street estimates. JB Hunt reported earnings of $1.22 per share on revenue of $2.94 billion. Analysts had expected earnings of $1.52 per share on revenue of $3.12 billion. Tapestry – Shares of the parent company of Coach and Kate Spade fell by about by 1% following a report in The New York Times’ DealBook that the Federal Trade Commission was preparing to block the takeover of Versace owner Capri Holdings. Capri shares fell 2.7%. Autodesk — Shares fell nearly 6% after Autodesk said it would delay filing its annual 10-K as a result of an ongoing internal investigation involving some of the company’s accounting practices. US Bancorp — US Bancorp shares fell about 4% after the regional bank lowered its 2024 net interest income forecast due to persistent inflation and a high, long-term interest rate environment. Abbott Laboratories — Health care shares fell 3% amid weak earnings guidance for the current quarter. Abbott said he expects $1.08 to $1.12 a share, excluding items, which is the range of the lower end of the consensus estimate of $1.12 among analysts surveyed by FactSet. That overshadowed a strong first quarter, with the company beating analysts’ forecasts on both measures. Alcoa — Aluminum shares closed down 1.5%. President Joe Biden announced Wednesday he wants to triple China’s tariff rate on aluminum and steel imports. Alcoa is set to release earnings after the close. Urban Outfitters – Shares of Urban Outfitters fell 2.5% after Jeffries downgraded Urban to a lower rating from hold, citing near-term concerns about the apparel retailer’s slowing traffic data, promotional headwinds and increased competition from peer retailers. . — CNBC’s Jesse Pound, Hakyung Kim, Pia Singh, Michelle Fox, Alex Harring and Sarah Min contributed reporting.
