Stocks making the biggest moves midday: Goldman Sachs, Bed Bath & Beyond, Moderna and more

1 month ago 13

American flags successful beforehand of Goldman Sachs Group Inc. office successful New York, connected Friday, March 5, 2021.

Michael Nagle | Bloomberg | Getty Images

Check retired the companies making headlines successful midday trading.

Goldman Sachs — Shares of the New York slope popped 4.4% successful midday trading aft the institution posted first-quarter per-share net of $18.60—crushing the $10.22 estimation of analysts surveyed by Refinitiv—and gross of $17.7 billion, much than doubled what it posted 1 twelvemonth ago. As of the latest reading, Goldman shares are connected gait for their champion time since January.

Bed Bath & Beyond – Shares of the big-box retailer tumbled astir 9% aft the institution reported a double-digit diminution successful fiscal fourth-quarter sales. Its net per stock came successful astatine 40 cents adjusted, versus 31 cents expected by Refinitiv. Ongoing store closures and divestments arsenic portion of a bigger turnaround program continued to measurement connected Bed Bath & Beyond's results.

Wells Fargo — The slope banal jumped much than 5% connected Wednesday aft Wells Fargo reported better-than-expected archetypal 4th results and the company's absorption expressed optimism astir a pickup successful commercialized loans. The slope reported $1.05 successful net per stock and $18.06 cardinal successful revenue. Analysts surveyed by Refinitiv were looking for 70 cents per stock and $17.5 cardinal successful revenue.

Moderna —Shares of the cause shaper popped 5% aft Moderna said its Covid-19 vaccine was much than 90% effectual astatine protecting against the virus six months aft a person's 2nd shot. The information was based connected much than 900 cases of the virus.

JetBlue – The airline's stock terms precocious much than 2% pursuing a bullish telephone from JPMorgan. The steadfast double upgraded the banal from an underweight standing to overweight, citing outgo power measures and an charismatic valuation. JPMorgan besides raised its terms people connected the hose to $25 from $15. The caller people is 20% supra wherever shares closed connected Tuesday.

Harley-Davidson — Shares of the motorcycle institution roseate 1.1% aft Bank of America initiated sum connected the banal with a bargain standing and said it sees "accelerating marque momentum." The steadfast said it is bullish astir the imaginable of "adventure touring" successful Harley-Davidson's future.

Snap – Snap gained astir 2% aft Wedbush assumed coverage connected the institution with an outperform rating. The steadfast said Snap has an innovative level with a young audience, and pointed to accidental successful augmented world and societal commerce. Wedbush's 12-month people terms of $75 suggests a 20% rally from Tuesday's closing price.

Occidental Petroleum — Shares of the the hydrocarbon exploration institution rallied astir 7% aft MKM partners upgraded Occidental Petroleum to bargain from neutral. The Wall Street firm said investors should instrumentality vantage of the pullback successful shares.

Discovery — Shares of the media institution dropped much than 3% after CNBC reported that Credit Suisse is inactive unloading its position in the aftermath of Archegos Capital Management's chaos. According to radical acquainted with the matter, the slope was selling 19 cardinal shares of Discovery's people A banal connected Tuesday.

JPMorgan – Shares of JPMorgan dipped little than 1% adjacent aft the slope reported nett and gross that exceeded analysts' expectations connected robust trading results. The beardown effect was besides helped by a $5.2 cardinal payment from releasing wealth it had antecedently acceptable speech for indebtedness losses that didn't develop. The slope posted first-quarter nett of $14.3 billion, oregon $4.50 a stock including a $1.28 per stock payment from the reserve release, higher than the $3.10 per stock expected by analysts surveyed by Refinitiv. The banal has risen much than 20% successful 2021.

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— with reporting from CNBC's Yun Li, Jesse Pound, Tom Franck and Pippa Stevens.