Consult the companies that make securities in the trading of lunch.
UnitedHealth – The shares of the health giant increased by more than 3% after the results exceeded the street forecasts. Its adjusted earnings were $ 5.31 per share, exceeding $ 4.39 per share expected by analysts, according to FactSet. UnitedHealth has also raised its earnings guidelines for 2021.
Virgin Galactic – Space shares have plummeted by more than 12% year-on-year after a deposit showed founder Richard Branson sold more than $ 150 million in the company’s stock in the past three days. Branson and four controlling entities, including Virgin Group, sold 5,584,000 shares of Virgin Galactic between April 12 and 14.
Rite Aid – Pharmacy chain shares fell more than 8% after the company’s fourth-quarter losses rose more than expected. Rite Aid reported a loss of 78 cents per share, with revenue of $ 5.92 billion. Analysts surveyed by Refinitiv expected a loss of 76 cents per share and revenue of $ 5.80 billion. The company’s CEO said in a statement that the business was affected by a “historically soft” cold and flu season.
Coinbase – One day after the start of cryptocurrency trading on the Nasdaq, shares rose 1.5%. The company obtained a buy rating and a target price of $ 500 per share, which implies an increase of about 50% since yesterday’s close. The cryptocurrency exchange also received a vote of confidence from popular investor Cathie Wood, whose firm Ark Invest bought Coinbase worth about $ 250 million on Wednesday.
Charles Schwab – The e-broker’s shares fell by more than 3%, despite beating the top and bottom lines of first quarter earnings. Schwab also said it added a record 3.2 million new customers in the first quarter of 2021. The company added about 2.4 million new accounts throughout 2020, which excludes added accounts from its acquisitions.
Nvidia – chip stock rose 4.6% after Raymond James upgraded the company to a strong buy. “Our appeal … is meant to express our conviction in both the short and long term,” the company wrote in a note to customers. Raymond James also raised his stock target from $ 700 to $ 750. The new target represents a 23% increase over where the shares closed on Wednesday.
American Eagle – The retailer gained 3.7% after the American Eagle said it anticipates revenue in the first quarter exceeding $ 1 billion. The figure is above the expectations of analysts surveyed by Refinitiv of $ 904.1 million. The company told CNBC that it was seen to have power in its denim division and that customers also started buying more charts.
Bank of America – The bank’s stock fell 2.9%, even after a quarterly report that exceeded Wall Street estimates of bank growth in investment and trading results. Some analysts, including Ken Usdin of Jefferies, pointed to Bank of America’s high spending in the quarter, while others reported weaker-than-expected growth in lending as a source of concern.
– CNG’s Maggie Fitzgerald, Tom Franck, Pippa Stevens and Jesse Pound contributed to the reporting.
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