Take a look at the companies making headlines in midday trading. QUANTUM STOCKS – Quantum computing stocks rose after Microsoft launched its Quantum Ready Initiative to prepare businesses for the rise of quantum computers. Nvidia also announced Quantum Day at its annual GTC conference. Rigetti Computer rose more than 18%, while D-Wave Quantum soared nearly 20%. IonQ soared 33%. Beacon Roofing Supply – Shares of the specialty building products distributor rose more than 10% to hit a new 52-week high after QXO announced plans to acquire the company for $124.25 per share in cash. This represents a total deal value of $11 billion. Meanwhile, QXO shares fell about 2% after the news was announced. Wells Fargo – Shares of Wells Fargo rose nearly 6% after the San Francisco-based bank reported better-than-expected adjusted earnings and issued strong guidance for 2025 net interest income. The bank said it expects net interest income, a key measure of bank loan income, to be 1% to 3% higher in 2025 than in 2024 at $47.7 billion. Goldman Sachs – Shares of Goldman Sachs rose about 5% after the bank’s latest quarterly results beat expectations. Goldman Sachs earned $11.95 per share on revenue of $13.87 billion, while analysts had expected earnings of $8.22 per share on revenue of $12.39 billion, according to LSEG. Citigroup — Shares of Citigroup rose more than 7% after the bank reported better-than-expected fourth-quarter results. Citigroup earned $1.34 per share on revenue of $19.58 billion, compared with LSEG’s consensus forecast of $1.22 per share on revenue of $19.49 billion. BNY Mellon — Shares of Bank of New York Mellon rose 6% after the bank beat Wall Street expectations for fourth-quarter profit. BNY Mellon reported adjusted earnings of $1.72 per share on revenue of $4.85 billion. Analysts polled by LSEG expected earnings of $1.56 per share and revenue of $4.66. JPMorgan Chase & Co. — JPMorgan Chase & Co. shares rose 2% on strong fourth-quarter results on strong performance in its fixed income and investment banking businesses, beating analysts’ expectations. JPMorgan Chase reported earnings of $4.81 per share on revenue of $43.74 billion. Analysts polled by London Stock Exchange Group (LSEG) expected profits of $4.11 per share on revenue of $41.73 billion. BlackRock – Shares of BlackRock rose 4.7% after the world’s largest asset manager reported better-than-expected fourth-quarter profit. Adjusted earnings were $11.93 per share, compared with the $11.19 per share expected by analysts polled by LSEG. Its revenue of $5.68 billion also topped consensus estimates of $5.49 billion. CBRE Group – Shares of CBRE Group rose nearly 5% after Morgan Stanley upgraded the real estate stock to overweight from equal weight. The company said commercial mortgage-backed securities issuance and rising spreads are catalysts for more gains in the future. Calavo Growers – Shares of Calavo Growers fell more than 7% after the avocado distributor reported fiscal fourth-quarter and full-year results. During the same period, Calavo Growers’ revenue was US$170 million, an annual increase of nearly 20%. Additionally, total net sales in fiscal 2024 increased 11.4% from the previous year to $661.5 million. —CNBC’s Alex Harring, Samantha Subin, Yun Li, Pia Singh and Michelle Fox contributed reporting.
