United Airlines, AT&T, Tesla and more
A United Airlines Holdings Inc. Boeing 777-200 aircraft on the tarmac at San Francisco International Airport (SFO) in San Francisco, California, US, on Thursday, May 15, 2020
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines in midday trading Thursday.
United Airlines – Shares of the airline surged 9.3% after the company said it expects to return to profitability in 2022 as travel bounces back. United cited a strong increase in bookings and a willingness for passengers to pay more to travel for its upbeat guidance.
American Airlines – Shares of the country’s biggest airline jumped 3.8% after the company forecast a second-quarter pretax profit as strong bookings help it cover soaring fuel costs. American said March was the first month since the Covid pandemic began that its revenue surpassed 2019 levels and added that bookings continue to rise.
Blackstone – Blackstone beat analyst estimates on the top and bottom lines for the previous quarter. The private equity firm’s stock dipped 6.5%, however, after rising earlier in the session.
AT&T — The telecom giant gained 4% after reporting its first-quarter results. AT&T reported $38.1 billion in consolidated revenue for the quarter and 65 cents in earnings per share, which includes results of the now spun-off WarnerMedia. Revenue for AT&T’s communications segment, including its mobile phone service, was up 2.5% year over year at $28.9 billion.
Tesla — Tesla shares jumped 3.2% after the electric vehicle maker beat Wall Street estimates on the top and bottom lines and saw an increase in car deliveries in the first quarter. Analysts responded positively to the news, with one calling Tesla a “must own.”
Xerox – Shares fell 15.7% after Xerox reported weaker-than-expected earnings. The company posted a profit of 12 cents per share, 1 cent below the Refinitiv consensus. The office equipment maker said it was hurt by inflation pressures and supply chain issues.
Dow Inc. – The chemical maker’s stock added 2.9% on the back of better-than-expected quarterly results. Dow Inc. reported first-quarter adjusted earnings of $2.34 per share on revenue of $15.26 billion. Analysts had expected a profit of $2.06 per share on revenue of $14.54 billion.
Carvana – Shares of the online auto seller dropped 10.1% after the company beat reported a wider-than-expected loss per share for the previous quarter. Carvana lost $2.89 per share, while analysts polled by Refinitiv expected a $1.44 loss per share.
CSX — Shares of the rail transportation company added 2.8% on the back of better-than-expected quarterly revenue. CSX posted revenue of $3.41 billion versus $3.3 billion expected, according to Refinitiv.
Netflix — Netflix shares fell an additional 3.5% on Thursday, building on the previous session’s massive drop. Pershing Square’s Bill Ackman said in a shareholder letter after the bell Wednesday that the hedge fund sold its entire stake in Netflix for a loss.
– CNBC’s Samantha Subin, Yun Li and Jesse Pound contributed reporting.
A United Airlines Holdings Inc. Boeing 777-200 aircraft on the tarmac at San Francisco International Airport (SFO) in San Francisco, California, US, on Thursday, May 15, 2020 David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading Thursday. United Airlines – Shares of the airline surged 9.3% after…
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