A man walks past a Wells Fargo Bank branch on a rainy Washington morning.
Gary Cameron | Reuters
Consult the companies that make securities in the trading of lunch.
Wells Fargo – The bank’s shares rose more than 5% after Bloomberg News reported that Fed officials had signaled to Wells Fargo that they would approve its overhaul plan. Wells Fargo operated under several restrictions, including an asset camp, linked to the false accounts scandal under its previous leadership.
Shopify – The e-commerce company’s shares fell by about 5% even after an increase in revenue and earnings. Shopify earned an adjusted $ 1.58 per share for the fourth quarter, exceeding the consensus estimate of $ 1.26, according to Refinitiv. The company was one of the biggest winners of the pandemic, as businesses sought to move their operations online. The stock increased by 184% in 2020 and by 21% this year.
Palantir – The shares of the technology company increased almost 3% on Wednesday, after an upgrade from Goldman Sachs. The investment firm upgraded the stock to buy from neutral, saying the company’s growth visibility is improving and praising its efficiency. The rise follows a drop of more than 12% on Tuesday, after Palantir’s latest quarterly report.
Chevron, Verizon – Shares of Chevron and Verizon rose nearly 2 percent and more than 4 percent, respectively, after SEC records revealed that Berkshire Hathaway of Warren Buffett bought a $ 4.1 billion share in Chevron and $ 8.6 billion in Verizon shares in the fourth quarter.
La-Z-Boy – Furniture manufacturer shares fell more than 8% after the company said its third-quarter results fell year-over-year due to the impact of Covid-19. For that period, the company reported a profit of 74% per share, excluding items, with revenues of $ 470.2 million. There were too few analyst estimates for any kind of consensual street reading. The company also announced that its CEO will retire on April 25.
Vir Biotechnology – Vir Biotechnology shares have risen nearly 11% following an announcement that its Covid-19 antibody partnership with GlaxoSmithKline will be extended to research therapies for other diseases.
DoorDash – Shares of the food delivery service fell more than 6% when trading even after an SEC filing showed that the Tiger Global Management Fund acquired more than one million DoorDash shares in the fourth quarter.
Choice Hotels International – Hotel stock fell more than 2.8% after the company reported a loss of revenue. Choice Hotels gained 51 cents in the fourth quarter, less than a FactSet estimate of 64 cents. However, its revenues exceeded expectations.
AIG – The shares of the insurance giant rose almost 1.6% after its better-than-expected quarterly results. AIG reported earnings of 94 cents per share, 1 cent above estimates, according to Refinitiv.
SolarEdge Technologies – The shares of the solar energy company increased by about 1% when trading at noon, after launching stronger-than-expected quarterly results. SolarEdge earned 98 cents per share, beating a Refinitive estimate by 11 cents. The company added that it expects better sales this quarter in the United States.
– with reports from CNBC Jesse Pound, Pippa Stevens, Yun Li and Rich Mendez.