Take a look at the companies making headlines in midday trading. United Airlines — Shares of United Airlines soared 14% after the airline reported a smaller-than-expected first-quarter loss. Quarterly revenue was $12.54 billion, exceeding LSEG’s forecast of $12.45 billion. Travelers Companies — The insurance stock fell 8% after a disappointing first-quarter report. Travelers said it earned $4.69 per share on revenue of $10.18 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $4.90 per share on revenue of $10.51 billion. Higher-than-expected catastrophe losses appeared to be part of the reason earnings missed targets. Eli Lilly and Company — Results were flat even after Eli Lilly announced that its Zepbound weight-loss drug showed promise in treating patients with obstructive sleep apnea. Shares of ResMed, which makes medical devices to treat sleep and breathing disorders, fell more than 6% after the news broke. ASML — U.S.-listed shares of the Dutch semiconductor equipment company fell nearly 8% after sales and new orders missed expectations. Net sales fell approximately 22% from the same period last year. Interactive Brokers – Shares of Interactive Brokers rose 3% after reporting quarterly results that were slightly above Wall Street expectations. The company also raised its dividend to 25 cents from 10 cents. JB Hunt Transport Services — The transportation stock fell 7% after quarterly results fell short of Wall Street expectations. JB Hunt reported earnings of $1.22 per share on revenue of $2.94 billion. Analysts expected earnings of $1.52 per share and revenue of $3.12 billion. Tapestry — Shares of the parent company of Coach and Kate Spade fell about 1% after the New York Times DealBook reported that the Federal Trade Commission was preparing to block its acquisition of Versace parent Capri Holdings. Capri shares also fell 1%. Autodesk — Autodesk shares fell more than 4% after the company said it would delay its annual 10-K filing due to an ongoing internal investigation involving some of the company’s accounting practices. US Bancorp — Shares of U.S. Bancorp fell 5% after the regional bank lowered its 2024 net interest income guidance due to stubborn inflation and a prolonged high interest rate environment. Abbott Laboratories — The healthcare stock fell 3.2% on weak profit guidance for the quarter. Excluding items, Abbott said it expected earnings in a range of $1.08 to $1.12 per share, which was at the lower end of the $1.12 consensus estimate among analysts polled by FactSet. That overshadowed an otherwise strong first quarter, in which the company beat analysts’ expectations in both areas. Alcoa – The aluminum stock rose 1% on Wednesday when President Joe Biden is expected to announce that he wants to triple tariffs on Chinese aluminum and steel imports. Alcoa will report earnings after the bell. Urban Outfitters — Urban Outfitters fell after Jefferies downgraded its rating to underperform from hold, citing recent concerns about slowing traffic data at the apparel retailer, promotional headwinds and increased competition from peer retailers. 3.4%. —CNBC’s Jesse Pound, Hakyung Kim, Pia Singh, Michelle Fox, Alex Harring and Sarah Min contributed reporting.
