See the companies making headlines in midday trading. UnitedHealth — Shares rose 5.2%, leading the Dow Jones Industrial Average higher on Tuesday. UnitedHealth reported better-than-expected first-quarter revenue and reaffirmed its full-year earnings forecast of $27.50 to $28 per share, excluding expense items. Analysts polled by FactSet forecast a price of $27.50. Johnson & Johnson — Shares of the drugmaker fell 2.2% even though it beat first-quarter profit estimates and reported recurring revenue. Johnson & Johnson adjusted its full-year sales forecast for 2024 to a range of $88 billion to $88.4 billion, down from its previous forecast of $87.8 billion to $88.6 billion. SolarEdge Technologies – Barclays maintained an underweight rating on the solar company, saying its Fixed costs will impact profit margins, causing the stock to fall 2%. However, the Wall Street bank raised its price target on SolarEdge from $50 to $61. Shares closed Monday at $60.44. Morgan Stanley — Shares rose 2.4% following better-than-expected first-quarter results that showed gains in the investment bank’s asset management, trading and advisory businesses. The company also beat analysts’ earnings and revenue estimates. Tesla — Shares of the electric vehicle maker fell 2.7%, extending Monday’s losses after Tesla said it would lay off 10% of its workforce, or roughly 14,000 employees. Live Nation Entertainment – The concert promoter’s shares fell more than 7% after the Wall Street Journal reported that the U.S. Department of Justice would file an antitrust lawsuit against it. Bank of America — Shares of Charlotte-based Bank of America fell 3.5% after quarterly profit fell 18% to $6.67 billion, or 76 cents per share. Excluding the $700 million FDIC estimate, earnings were 83 cents per share. Revenue fell 1.6% to $25.98 billion, roughly in line with LSEG estimates, as net interest income fell from a year earlier. — CNBC’s Sarah Min and Tanaya Machil contributed reporting.
