Check Out the Companies Making Headlines in Midday Trading
Alcoa’s shares dipped 1.1% after CEO William Oplinger said that U.S. tariffs on Canadian imports would increase the cost of aluminum by $1.5 billion to $2 billion a year, and that increasing the cost of trade with Canada and Mexico would hurt the domestic supply chain and automotive market.
American Airlines shares fell 8.7% after the airline offered a disappointing first-quarter outlook, expecting an adjusted loss of 20 cents to 40 cents per share, which is lower than the 4 cents per share expected by analysts.
Elevance Health shares rose 2.7% after the health insurance company beat fourth-quarter expectations, posting adjusted earnings of $3.84 per share on revenue of $45 billion.
Electronic Arts shares tumbled 16.7% after the video game publisher cut its net bookings guidance for both the third quarter and full year, citing underperforming games.
Plexus shares slipped nearly 10.1% after the company gave a disappointing revenue outlook for the second quarter, expecting revenue in the range of $960 million to $1 billion, which is lower than the $1.02 billion expected by analysts.
AST SpaceMobile shares declined 11.9% after the satellite company announced a $400 million convertible note offering.
GE Aerospace shares popped 6.6% after the company posted a fourth-quarter earnings and revenue beat, reporting adjusted earnings of $1.32 per share and revenue of $9.88 billion.
Guidewire Software shares jumped 11.5% after Goldman Sachs initiated coverage with a buy rating on the company, citing its potential to outperform as cloud adoption grows among insurers.
Union Pacific shares jumped 5.2% after the railway company posted fourth-quarter earnings that topped Wall Street’s estimates, reporting earnings of $2.91 per share.
Alaska Air shares added roughly 2.1% after the airline posted adjusted earnings of 97 cents per share, topping the 47 cents projected by analysts.