A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington.
Matt Mcknight | Reuters
Check out the companies making the biggest moves midday:
Boeing — Shares dropped more than 6%. On Thursday, Boeing warned it will have to pause some deliveries of its 737 Max plane due to a problem with parts made by a supplier, Spirit AeroSystems. Shares of Spirit AeroSystems sank 20%.
JPMorgan Chase — Shares soared about 7% after the bank reported record first-quarter revenue thanks to higher interest rates. Revenue came in at $39.34 billion, topping analysts’ estimate of $36.19 billion, per Refinitiv. Adjusted earnings per share was $4.32, compared to the $3.41 per share expected.
Citigroup — The bank’s stock added more than 4% after the company reported rising net income and a revenue beat for the first quarter. Citigroup posted $21.45 billion in revenue, compared to the $19.99 billion expected, according to Refinitiv.
UnitedHealth — The health insurance provider’s stock fell 2.5% on investor concerns over how some 2024 policy changes will impact Medicare Advantage plan profits in the near term. The decline in shares came even after UnitedHealth surpassed estimates on the top and bottom lines and boosted its full-year outlook.
Hello Group — The Chinese entertainment stock popped 5.5% following an upgrade to overweight from neutral by JPMorgan. The firm said the company could benefit from improvements in live streaming in China.
BlackRock — Shares of the investment management company advanced 2.7% after it reported first-quarter adjusted earnings per share of $7.93, topping the estimate of $7.76 per share from analysts polled by Refinitiv. Revenue was $4.24 billion, in line with expectations.
PNC Financial Services — The bank’s stock slipped 1.8%. PNC provided guidance for fiscal year 2023 of 4% to 5% of revenue growth year over year, down from its prior guidance of 6% to 8%. PNC’s earnings per share for…
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