Stocks making the biggest moves midday: JPMorgan, Wynn Resorts, Sherwin-Williams, Disney and more
In this article
Check out the companies making headlines in midday trading.
Casino stocks — Las Vegas Sands and Wynn Resorts saw their shares jump 14.1% and 8.6%, respectively, after the Macau government said the number of casinos allowed to operate there would remain limited at six. Licenses of the current operators – which include Wynn Macau, Sands China and MGM China – are set to expire this year. Shares of MGM Resorts slipped slightly.
JPMorgan Chase — Shares of the major bank fell 6.1%, dragging down the major equity averages. The sell-off came after the firm posted its smallest quarterly earnings beat in nearly two years and the lender's chief financial officer lowered guidance on companywide returns. CFO Jeremy Barnum said on a conference call that management expected «headwinds» of higher expenses and moderating Wall Street revenue.
Wells Fargo — The bank stock jumped 3.6% after the company posted quarterly revenue that exceeded analysts' expectations and a significant jump in profit. Results were helped by a $875 million reserve release that the bank had set aside during the pandemic to safeguard against widespread loan losses.
Citigroup — Citi shares lost 1.2% despite the company reporting a beat on quarterly earnings and revenue. However, the bank also reported net income for the latest quarter dropped 26% to $3.2 billion, citing an increase in expenses.
BlackRock — Shares of the asset manager fell 2.1% after the company reported a quarterly revenue miss of $5.11 billion, versus expectations of $5.16 billion, according to FactSet's StreetAccount. The company beat earnings estimates, however, and grew its assets under management to above $10 trillion.
Monster Beverage — Shares of Monster Beverage fell 4.7% a
Read more on cnbc.com
