Stocks fell on Tuesday after investors digested quarterly earnings reports from the likes of Goldman Sachs, Bank of America and Johnson & Johnson.
These stocks were moving on Tuesday.
(ticker: GS) reported first-quarter earnings of $8.79 per share, beating analysts’ expectations of $8.14. However, shares were down 1.6%, with investors likely blaming the lackluster performance of the company’s fixed-income trading unit.
Bank of America
(BAC) reported first-quarter earnings that beat expectations. The bank reported earnings of 94 cents per share, beating analysts’ expectations of 81 cents per share. Shares decreased by 0.8%.
Johnson & Johnson
( JNJ ) reported adjusted quarterly earnings of $2.68 per share, beating analysts’ estimates. Revenue of $24.8 billion was also higher than estimated. The company raised the midpoints of its full-year guidance for operating sales and adjusted earnings per share. The health giant’s chief financial officer said an initial public offering of its consumer health division is coming soon. Shares decreased by 2.7%.
Ericsson’s ( ERIC ) U.S. depository receipts fell 8% after the Swedish telecom company said it expects the operating environment to remain “mixed” this year in 2023, following first-quarter earnings that fell. compared to last year.
( NVDA ) rose 2.8% to $277.60 after
upgraded the chipmaker’s stock to Buy from Reduce and raised its price target to $355 from $175.
Lockheed Martin ( LMT ) reported first-quarter profit that beat Wall Street estimates and sales of $15.1 billion, beating analysts polled by FactSet of $15.04 billion. Lockheed shares rose 2%.
Shares of a biopharmaceutical company
(BLU) surged nearly 100% to $14.41 after trading
) said it would acquire Bellus in a deal valued at approximately $2 billion in total equity. GSK’s American depository receipts decreased by 1.3%.
American Depositary Receipts of a Chinese Electric Vehicle Manufacturer
) lost 2.7% on Tuesday. Chief Executive Officer William Lee told CNBC in an interview at the Shanghai Auto Show that his company will not match.
(TSLA) price cut.
( LUV ) shares fell 1.7% after the airline experienced a significant number of flight delays following the suspension of departures earlier Tuesday.
( UAL ) reports first-quarter earnings after the close on Wall Street Tuesday.
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