Check out the companies making headlines in midday trading. United Airlines — Shares surged 14% after the airline posted a narrower-than-expected loss in the first quarter. Quarterly revenue came in at $12.54 billion, topping an LSEG estimate of $12.45 billion. Travelers Companies — The insurance stock fell 8% after a disappointing first-quarter report. Travelers said it generated $4.69 in earnings per share on $10.18 billion in revenue. Analysts surveyed by LSEG were expecting $4.90 in earnings per share on $10.51 billion of revenue. Higher-than-expected catastrophe losses appeared to be part of the reason for the earnings miss. Eli Lilly — Eli Lilly was flat even after announcing that its Zepbound weight loss drug showed promise in treating patients struggling with obstructive sleep apnea. ResMed , which makes medical devices that treat sleep and breathing disorders, slumped more than 6% on the news. ASML — The Dutch semiconductor equipment company’s U.S.-listed stock dropped nearly 8% after sales and new bookings fell short of expectations . Net sales declined about 22% year over year. Interactive Brokers — Shares popped 3% after Interactive Brokers posted quarterly results that came in slightly ahead of Wall Street’s expectations. The company also hiked its dividend to 25 cents from 10 cents. J.B. Hunt Transport Services — The transportation stock shed 7% on quarterly results that fell short of Wall Street’s estimates. J.B. Hunt posted earnings of $1.22 per share on $2.94 billion in revenue. Analysts expected earnings of $1.52 per share on revenue of $3.12 billion. Tapestry — The parent company of Coach and Kate Spade slipped around 1% following a report from The New York Times’ DealBook that the Federal Trade Commission is readying to block its takeover of Versace owner Capri Holdings . Shares of Capri dipped 1% as well. Autodesk — Shares sank more than 4% after Autodesk said it will delay its annual 10-K filing as a result of an ongoing internal investigation involving some of the company’s accounting practices. U.S. Bancorp — U.S. Bancorp shares dropped 5% after the regional bank lowered its net interest income guidance for 2024 as a result of stubborn inflation and the high-for-longer interest rate environment. Abbott Laboratories — The health-care stock slipped 3.2% on the back of weak guidance for current-quarter earnings. Abbott said to expect between $1.08 and $1.12 per share, excluding items, a range on the low end of the $1.12 consensus estimate of analysts polled by FactSet. That overshadowed an otherwise strong first quarter, with the company beating analysts’ forecasts on both lines. Alcoa — The aluminum stock added 1% on President Joe Biden’s expected announcement Wednesday that he wants to triple the China tariff rate on aluminum and steel imports. Alcoa is set to report earnings after the bell. Urban Outfitters — Shares dipped 3.4% after Jefferies downgraded Urban to underperform from hold, citing near-term concerns regarding the apparel retailer’s slowing foot 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.
Source: www.cnbc.com