Pampers diapers, manufactured by Procter & Gamble, are displayed in an Affiliate Supermarket in New York.
Ramin Talai | Bloomberg | beautiful pictures
Check out the companies that hit the headlines in midday trading.
SoFi – Shares of the mobile financial services company rose more than 16% after the company won long-standing regulatory approval to become a bank’s parent company. SoFi will acquire California-based community lender Golden Pacific Bancorp, an agreement announced last year, and operates the bank’s subsidiary called SoFi bank.
UnitedHealth Group UnitedHealth shares rose 1.4% after the health insurer’s fourth-quarter report beat earnings expectations. The company reported adjusted profit of $4.48 per share, 17 cents above the Refinitiv consensus estimate. UnitedHealth revenue also topped forecasts.
Morgan Stanley – Bank shares rose about 2.1% after The company announced better-than-expected Q4 earnings on strong stock trading revenue. Unlike its rivals, which disclosed a spike in compensation costs for Wall Street employees during the quarter, Morgan Stanley kept the expenses private.
Procter & Gamble Shares of the consumer goods company rose about 4.3% after the company reported earnings that topped Wall Street estimates. The company posted earnings of $1.66 per share, 1% above the Refinitiv consensus estimate. P&G also beat revenue expectations and raised its 2022 forecast.
Bancorp USA Shares of US Bancorp fell 6.9% after reporting weaker-than-expected fourth-quarter earnings. The company posted earnings below consensus expectations from analysts surveyed by Refinitiv. Net interest income was also below StreetAccount estimates.
The road for government Shares of the asset manager fell more than 5% despite State Street reporting better-than-expected results for the fourth quarter in both top and bottom profits. However, the company’s revenue from service fees fell short of analyst expectations, according to FactSet’s StreetAccount. Additionally, State Street announced that the CEO of their Global Advisors division will be retiring this year.
Sony – Sony shares fell 2.9% after Microsoft on Tuesday announce an agreement buy video game maker Activision Blizzard for $68.7 billion. The acquisition will increase competitive pressure on Sony’s PlayStation operating system.
Electronic art – Shares of Electronic Arts increased by about 2.7% after Upgrade to Overweight from Atlantic Equities. The company said the stock was attractive as an independent company after Microsoft announced it would acquire Activision Blizzard.
Las Vegas Sands – Casino and gaming stocks rose 3.3% on Wednesday after a upgrade to buy from neutral by UBS. The investment firm said in a note to clients that the new gambling regulations in Macau will benefit incumbents like the Las Vegas Sands.
Lennar – Shares of home construction stocks fell after Downgrade from KeyBanc. Lennar downgrade company, KB Homepage and Fees are collected by brothers underweight and dropped its rating on DR Horton industry weight. Lennar is down nearly 2% and DR Horton is down 1.6%. KB Home and Toll Brothers each fell more than 2%.
– CNBC’s Tanaya Macheel, Yun Li and Jesse Pound contributed reporting
