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Check out the companies making headlines in midday trading.
Twitter — Shares rose 3.4% after Twitter announced Friday that the board adopted a limited duration shareholder rights plan, often referred to as a «poison pill.» The move comes after billionaire Elon Musk offered to buy the company for $43 billion.
Bank of America — Shares for the investment bank jumped more than 3% after Bank of America reported an earnings beat on Monday. Bank of America topped expectations in the first quarter with earnings of 80 cents per share and $23.33 billion in revenue, helped by strength in consumer lending. Analysts surveyed by Refinitiv expected earnings of 75 cents per share and $23.2 billion in revenue.
Bank of New York Mellon — Shares fell 3.6% after the company's revenue missed Wall Street estimates. Revenue came in at $3.93 billion, while the Refinitiv consensus estimate was $3.97 billion. The bank topped earnings estimates by a penny per share.
Synchrony Financial – Shares of the financial services firm advanced more than 4% after the company reported a beat on quarterly profit and revenue estimates. The board also approved a $2.8 billion addition to the company's stock buyback plan and a 5% dividend increase to 23 cents per share.
Charles Schwab — Shares of Charles Schwab fell 8.8% after missing analyst estimates on the top and bottom lines in the first quarter. The company reported earnings per share of 77 cents on $4.67 billion in revenue. Analysts expected 84 cents per share on revenue of $4.83 billion.
Southwest Gas — The utility stock rose 7.7% after Southwest Gas said its board had authorized the review of a full range or strategic alternatives, after receiving what it called an «indication of interest»
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