Business

IBM, Boeing, Hasbro, Ford, etc.


IBM CEO Arvind Krishna appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022.

Hollie Adams | Bloomberg | beautiful pictures

Check out the companies that hit the headlines in Tuesday’s midday trading.

IBM – IBM shares fell 6.6% after the tech company warned about the possibility US$3.5 billion gained from a strong US dollar. That warning overshadowed better-than-expected earnings and revenue last quarter.

Boeing – Shares of the aerospace giant rose nearly 4%, continuing a bullish trend for the stock, after Boeing announced several deals for aircraft orders. The transactions include an order for 787 Dreamliners from AerCap and an order for 737 Max jets from Aviation Capital Group and 777 Partners. Shares of Boeing rose more than 10% in July.

Chipmakers – Semiconductor stocks have soared ahead of a key Senate vote on the CHIPS bill, which could arrive as early as Tuesday. The act would provide domestic chipmakers with $52 billion in government subsidies. Marvell Technology, ASML Holding, Application materials and Advanced Microphone Device both increased by more than 4%. Intel, Qualcomm and Nvidia all increased by more than 3%.

Goldman Sachs – Shares of Goldman Sachs rose nearly 5% to lead the Dow Jones Industrial Average higher, based on the bank’s post-earnings earnings. Other bank stocks traded higher along with Goldman. Bank of America raised 2.7%, while JPMorgan Chase up 1.7%.

Travel shares – Travel and airline stocks rallied as investors continued to debate consumer health and the possibility of a recession – while travel demand remained strong. Royal Caribbean, Carnival and Norwegian Cruise Line increased by 6.6%, 7.6% and 3.6% respectively. Flower, Delta and American all traded 3% higher, while Southwest 2.9% increase.

Hasbro – Shares of Hasbro rose 2% after the company reported earnings per share that beat Wall Street forecasts. The bread maker’s revenue was slightly lower than analysts expected. Hasbro’s bottom line was driven in part by demand for board games and higher prices.

Halliburton – Halliburton shares rose more than 1% on better-than-expected quarterly earnings and revenue. The oil services company posted earnings per share of 49 cents on revenue of $5.07 billion. Analysts polled by Refinitiv expect a profit of 45 cents per share on revenue of $4.71 billion.

Ford –Shares of Ford were up nearly 6% on Tuesday. A day earlier, the company introduced the F-150 Raptor, its latest pickup model. The truck is the most powerful, with 700 horsepower and the most expensive, starting at $109,000.

Exxon Mobil – Exxon Mobil rose 2.3% after Piper Sandler upgrades the company overshoot from neutral and indicates the stock is likely to rise another 25%. The company predicts that Q2 business results will be positive from the company.

– CNBC’s Samantha Subin and Jesse Pound contributed reporting



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