The Lockheed Martin logo is seen on a building in Annapolis Junction, Maryland, on March 11, 2019.
Jim Watson | AFP | Getty Images
Check out the companies making headlines in midday trading.
Lockheed Martin – Shares of the aerospace and defense contractor gained more than 2% on Tuesday after it beat Wall Street’s expectations in the first quarter and reaffirmed its full-year guidance. The company posted earnings of $6.61 per share on revenue of $15.13 billion. Analysts called for earnings of $6.06 per share and revenue of $15.03 billion, according to Refinitiv.
PowerSchool Holdings – The educational technology stock added 3.5% after Goldman Sachs upgraded shares to buy from neutral. The firm said the company is a leader in the space and can drive growth through international expansion and cross-selling products.
Nvidia – The chipmaker saw shares rise more than 3% after HSBC gave them a double upgrade, saying investors aren’t fully pricing in Nvidia’s “incredible AI pricing power” into the stock. The company could extend its 85% year-to-date rally even further, according to HSBC.
Chubb – Shares climbed 1% after Citi upgraded Chubb to buy from neutral. The Wall Street firm said the property and casualty brokerage is a buying opportunity, given its “incremental strength in reserves.” The firm expects Chubb’s “high-net-worth exposure skew is relatively more insulated from negative inflationary/economic risk.”
Microsoft – The tech giant were down slightly with a 0.4% decline in midday trading. Microsoft stock closed about 1% higher on Monday following a weekend report from The New York Times that Samsung phones may move to switch their default search engine to Bing and away from Google.
Bank of America – The bank stock was about flat even after the firm reported first-quarter earnings and revenue that topped expectations. Its strong results were driven by higher rates as net interest income jumped 25% year over year. CEO Brian Moynihan said he sees a relatively…
Read the full article here