Tesla CEO Elon Musk interviewed by CNBC on May 16, 2023.
David A. Grogan | CNBC
Check out the companies making headlines in midday trading.
tesla — Shares rose 4.4 percent after the company held its annual general meeting the previous day. CEO Elon Musk has announced that the company will deliver its first Cybertrucks later this year. Musk said that while he expects a recession in the next 12 months, Tesla is well-positioned for the long run.
Western Union — Western Alliance shares rose 10.2% after the regional bank said deposits rose by more than $2 billion so far in the quarter ended May 12.Other regional bank stocks rose, with zion bank corp. It was last up 12.1%.this SPDR S&P Regional Bank ETF An increase of 7.4%.
Target — Shares of the large retailer rose 2.6% after the company’s first-quarter profit topped Wall Street expectations. However, Target’s revenue barely grew year-over-year, Its shoppers bought more necessities. Target also said it expects sales to remain subdued in the current quarter, expecting a low-single-digit decline in comparable sales.
TJX Corporation — Shares rose 0.9 percent on Wednesday. The retailer beat earnings estimates ahead of the opening bell, reporting 76 cents a share, compared with the 71 cents expected by analysts polled by Refinitiv. It also topped estimates for comparable sales in the first quarter, but its revenue missed expectations, according to StreetAccount.
Wynn Resorts — The hotel and casino operator rose 5.7 percent after Barclays upgraded the stock. The company said Wynn could benefit more from a post-pandemic recovery at its Macau properties, while its Las Vegas operations could continue to perform well despite a deteriorating macro environment.
electric car — The provider of electric vehicle charging stations fell 18.7% on news of a $125 million public offering of Class A shares. Earlier Tuesday, Stifel initiated coverage on EVGo with a buy rating.
Jinrui Holdings — Shares of the IBM spinoff fell 12.9 percent on light guidance. Kyndryl reported a loss of $3.24 per share in the fiscal fourth quarter. That was a bigger jump than the loss of $1.02 a share in the year-ago period.
Keysight Technologies — Shares of Keysight Technologies soared more than 7.7 percent after Keysight Technologies beat second-quarter profit estimates. The company also issued earnings guidance for the period that beat expectations.
homosexual — The healthcare software company fell 5.7% after providing weak guidance for the quarter. The company said it expects first-quarter revenue of $106.5 million to $107.5 million and adjusted EBITDA of $39 million to $40 million. Both estimates missed expectations, with analysts surveyed by StreetAccount forecasting revenue of $11.8 million and adjusted EBITDA of $45.4 million. That overshadowed the company’s better-than-expected fourth-quarter earnings.
— CNBC’s Yun Li, Tanaya Macheel, Hakyung Kim, Alex Harring, Michelle Fox and Brian Evans contributed reporting