United Airlines, AT&T, Tesla and more

A United Airlines Holdings Inc. Boeing 777-200 on the tarmac at San Francisco International Airport (SFO) in San Francisco, California, U.S., Thursday, Oct. 15, 2020.

David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines Thursday at noon.

United Airlines – Shares of the airline jumped 9.3% after the company said it expects to return to profitability in 2022 as travel rebounds. United cited a surge in bookings and a willingness of passengers to pay more to travel for its upbeat forecast.

American Airlines – Shares of the nation’s largest airline jumped 3.8% after the company forecast second-quarter pretax profit as strong bookings help it cover soaring fuel costs. American said March was the first month since the start of the Covid pandemic that its revenue exceeded 2019 levels and added that bookings continued to rise.

Blackstone – Blackstone beat analyst estimates on prior quarter results. Shares of the private equity firm fell 6.5%, however, after rising earlier in the session.

AT&T — The telecommunications giant gained 4% after reporting its first quarter results. AT&T reported consolidated revenue of $38.1 billion for the quarter and earnings per share of 65 cents, which includes results from now spinoff WarnerMedia. Revenue from AT&T’s communications segment, including its wireless service, rose 2.5% year-over-year to $28.9 billion.

Tesla – Shares of Tesla jumped 3.2% after the electric vehicle maker beat Wall Street estimates on the high and low and saw an increase in first-quarter car deliveries. Analysts reacted positively to the news, with one calling Tesla a “must have.”

Xerox – Shares fell 15.7% after Xerox reported weaker-than-expected earnings. The company posted earnings of 12 cents per share, 1 cent below the Refinitiv consensus. The office equipment maker said it was hit by inflationary pressures and supply chain issues.

Dow Inc. – The chemical maker’s stock gained 2.9% on 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 earnings of $2.06 per share on revenue of $14.54 billion.

Carvana – Shares of the online auto seller fell 10.1% after the company reported a bigger-than-expected loss per share for the previous quarter. Carvana lost $2.89 per share, while analysts polled by Refinitiv had expected a loss of $1.44 per share.

CSX – Shares of the railroad company rose 2.8% on better-than-expected quarterly earnings. CSX posted revenue of $3.41 billion versus $3.3 billion expected, according to Refinitiv.

Netflix – Shares of Netflix fell another 3.5% on Thursday, building on the previous session’s massive decline. Bill Ackman of Pershing Square said in a letter to shareholders after the bell on Wednesday that the hedge fund had sold its entire stake in Netflix at a loss.

– CNBC’s Samantha Subin, Yun Li and Jesse Pound contributed reporting.

United Airlines, AT&T, Tesla and more

Source link United Airlines, AT&T, Tesla and more

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