These stocks were making moves Tuesday:
Goldman Sachs GS –1.68% (ticker: GS) posted first-quarter earnings of $8.79 a share, beating analysts’ expectations of $8.14. However, shares were down 3.3% with investors perhaps blaming an underwhelming performance from the company’s fixed-income trading division.
Bank of America BAC –1.00% (BAC) reported first-quarter earnings that beat expectations. The bank posted a profit of 94 cents a share, higher than analysts’ expectations of 81 cents a share. The stock declined 1%.
Johnson & Johnson JNJ –2.69% (JNJ) reported adjusted quarterly earnings of $2.68 a share, beating analysts’ estimates. Revenue of $24.8 billion also came in higher than estimates. The company raised its full-year guidance midpoints for operational sales and adjusted per-share profit. The chief financial officer said an initial public offering for its consumer health division was coming soon. The stock slid 2.1%.
Lockheed Martin (LMT) posted first-quarter earnings that beat Wall Street estimates and sales of $15.1 billion, higher than the $15.04 billion penciled in by analysts surveyed by FactSet. Shares of Lockheed were up 3.5%.
Bank of New York Mellon (BK) shed 2.2% after reporting first-quarter total revenue of $4.36 billion, rising 11% from a year earlier.
Nvidia (NVDA) was rising 3.5% to $279.62 after HSBC upgraded shares of the chip maker to Buy from Reduce and raised the price to $355 from $175.
Shares of biopharmaceutical company Bellus Health (BLU) soared nearly 100% to $14.41 after GSK ( GSK ) said it would acquire Bellus in a deal with an approximate total equity value of $2 billion. American depositary receipts of GSK slipped 0.8%.
American depositary receipts of Ericsson (ERIC) fell 6.6% after the Swedish telecommunications company said it expects the operating environment in 2023 to remain “choppy” this year following first-quarter earnings that fell from a year earlier.
Netflix (NFLX) remains the clear leader in the streaming video market. But Netflix has been struggling to show meaningful growth. Wall Street will get an update from Netflix when it reports first-quarter earnings after the stock market closes. Netflix was up 0.5%.
United Airlines UAL +0.90% (UAL) reports first-quarter earnings after Wall Street closes Tuesday. United’s reports follows last week’s update from fellow carrier Delta Air Lines (DAL), which reported first-quarter adjusted earnings that missed analysts’ estimates but said its outlook for the second quarter was “strong.” Shares of United rose 1.1%, while Delta gained 1.6%.
