December 9, 2023

A Rivian electric pickup truck is seen in the parking lot of a Rivian service center on May 9, 2022 in South San Francisco, California.

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Check out the companies making headlines in midday trading Monday.

Abbott Laboratories — The medical device company rose 7.8% on Wednesday after its earnings report. Abbott reported first-quarter earnings of $1.03 per share on revenue of $9.75 billion. Both beat Wall Street expectations, with analysts polled by FactSet expecting earnings of 99 cents a share on revenue of $9.67 billion. The company reiterated its full-year adjusted EPS guidance of $4.30 to $4.50, a range that includes the $4.39 consensus estimate.

Netflix — Shares of the streaming giant fell about 3.2% after it reported a small revenue miss. Netflix reported quarterly revenue of $8.16 billion, slightly missing Refinitiv estimates of $8.18 billion. Its earnings per share did beat expectations. Netflix also said it was delaying the broad rollout of the password-sharing crackdown.

Western Union, zion bank corp. — Western Alliance shares rose 24.1% on Wednesday after the regional bank said its deposits rebounded in April after falling 11% in the first quarter. Wedbush upgraded the battered stock to outperform after Western Alliance’s quarterly report, even though the bank’s net income fell more than 50% from the previous quarter. Elsewhere bank shares rose during Wednesday’s session. Zions shares rose 7.4 percent, while Regional Finance and U.S. An increase of 2.8% and 5.5%, respectively.

united airlines — Shares of the airline rose 7.5% on Wednesday. Although the airline announced a net loss for the first quarter, Chief Executive Scott Kirby said the airline expects to be profitable in the second quarter. United posted a loss of 63 cents a share, 10 cents less than the 73-cent loss expected by analysts polled by Refinitiv. The company reported revenue of $11.43 billion, slightly above estimates of $11.42 billion.

intuitive surgery — Intuitive Surgical shares soar 10.9% after company goes public Quarterly earnings and revenue exceeded Wall Street expectations. The company reported adjusted earnings of $1.23 per share, topping the consensus estimate of $1.20 per share, according to FactSet. Revenue was $1.7 billion, beating estimates of $1.59 billion.

tesla — Shares of the electric car maker retreated 2 percent on Wednesday. Tesla investors are focusing on profit margins after reports on Tuesday that the U.S. version of the Model 3 and Model Y will cut prices again. So far this year, Tesla has cut prices on both models six times. Analysts expect Tesla’s first-quarter revenue to rise 24.2 percent from a year earlier to $23.29 billion, but their average profit estimate has fallen about 2.4 percent over the past three months, according to Refinitiv data.

bowler — Shares of the bowling alley and entertainment company rose nearly 3.2% after Jefferies initiated a buy on Bowlero and said it sees “strong growth and strong free cash flow opportunities.”

rivian car — The stock fell nearly 4.5 percent after RBC Capital Markets downgraded the sector to outperform from outperform. The Wall Street firm cut its price target on Rivian to $14 a share from $28 and said there are limited near-term catalysts to accelerate earnings.

CDW — Shares of the IT company tumbled 13.2% after it reported a weaker-than-expected preliminary quarterly earnings report and issued guidance for full-year earnings “just below” 2022 levels. CDW issued quarterly revenue guidance of $5.1 billion, below the consensus estimate of $5.58 billion among analysts polled by FactSet. The company said it was significantly impacted by more cautious buying amid economic uncertainty.

Peloton Interactive — Shares of Peloton fell 3.8% in Wednesday’s session after KeyBanc cited the company as an industry weight, saying there was too much uncertainty about the company. The company cited “macro volatility, financial distress, and unproven/profit-dilutive moves” as pressures on Peloton’s subscription growth rate and brand uniqueness.

traveler — Shares of the insurer rose about 6.2% after beating Wall Street’s top and bottom line estimates. The Dow Jones Industrial Average reported adjusted earnings of $4.11 per share on net premiums of $9.4 billion.

ASML Holdings — Shares of the chipmaker fell about 3% on Wednesday after the company reported a 46% year-over-year drop in first-quarter net bookings due to “mixed signals” from customers as they worked through inventories. Shares fell even as ASML reported better-than-expected earnings for the quarter.

Citizens Financial Group — Shares closed up 0.2 percent on Wednesday, recovering from an earlier decline after first-quarter earnings that disappointed investors. Citizens Financial reported earnings of $1 per share, missing analysts’ expectations of $1.13, according to Refinitiv data. The company’s revenue of $2.13 billion also missed analysts’ expectations of $2.14 billion. Citizens Financial reported deposits fell 4.7% to $172.2 billion.

Intel — Semiconductor stocks remained in the red on Wednesday, falling 2.1 percent after announcing that it would halt production of Blockscale, a line of bitcoin mining chips just a year later.

— CNBC’s Hakyung Kim, Yun Li, Michelle Fox Theobald, Alex Harring and Brian Evans contributed reporting