Stocks making the biggest moves midday: UnitedHealth, JPMorgan Chase, Microsoft, JetBlue and more

cnbc.com:

Check out the companies making headlines in midday trading.

JPMorgan Chase — Shares fell slightly even after the bank reported stronger-than-expected results for the second quarter, as it benefited from higher interest rates and better-than-expected bond trading.

Wells Fargo — Wells Fargo shares rose slightly after the Wall Street firm topped second-quarter expectations. The bank also said it anticipates higher-than-expected net interest income this year.

UnitedHealth — The health-care giant popped nearly 7% after topping expectations for the second quarter on both the top and bottom lines. UnitedHealth also upped the lower end of its full-year guidance. Other health-care stocks rose in sympathy, with Cigna and Elevance Health last up more than 4% each.

Citigroup — Shares of the New York-based lender fell 2% even after the firm reported second-quarter earnings and revenue that topped expectations. Despite the beat, Citi's revenue fell 1% from a year ago as the decline in markets and investment banking businesses weighed on its results.

JetBlue Airways, American Airlines — JetBlue Airways and American Airlines slid more than 2% each in midday trading. The two airlines are no longer selling seats on each other's flights after Thursday, following a court ruling in May that they end their more than two-year partnership.

Microsoft — The software stock rose about 2% after UBS upgraded it to a buy rating, saying its artificial intelligence opportunity and recent underperformance make it too attractive to ignore.

AT&T — The telecommunications stock sank nearly 5% after JPMorgan downgraded it to neutral from overweight, citing competition concerns. The Wall Street firm also said AT&T's exposure to cable may limit the upside for