Prism Stocks making the biggest midday moves: Globe Life, JPMorgan, Zoetis, Wells Fargo and more

Dive into the headlines affecting companies during midday trading.

JPMorgan

— The banking institution saw a 5% decrease in its shares after revealing that its net interest income might not meet Wall Street analysts’ 2024 projections, despite surpassing both top and bottom line estimates in the previous quarter. CEO Jamie Dimon highlighted the lurking threat of inflation.

Wells Fargo

— The bank’s shares marginally dropped by less than 1% on reporting a dip in net interest income for the first quarter. However, Wells Fargo surpassed analysts’ expectations for its first quarter adjusted earnings and revenue.

BlackRock

— The asset management giant’s shares dipped around 2% due to total net inflows falling below anticipated figures, as noted by StreetAccount. Nevertheless, BlackRock’s first-quarter adjusted earnings reported at $9.81 per share on $4.73 billion revenue surpassed analysts’ expectancy of $9.35 per share on a revenue of $4.68 billion.

Globe Life

— The life insurance stock recovered by 10% after a massive 50% drop during Thursday’s trading session. The downturn was triggered by a report from Fuzzy Panda Research, which revealed a short position in the stock and alleged insurance fraud.

Paramount

— The entertainment firm experienced nearly a 2% drop in shares after declaring plans to cut down its board from 11 to seven directors. Currently, merger discussions with Skydance Media are underway.

Corteva

— This agriculture chemical stock witnessed a 3.8% fall following JPMorgan’s downgrade from ‘overweight’ to ‘neutral’. The firm advised against buying the shares before the first quarter earnings report due to expected weakness.

Ciena

— The shares of the software company fell by nearly 3% after Citi initiated its coverage with a sell rating. The bank cautioned that the investors’ optimism about the potential artificial intelligence benefits might be premature.

Zoetis

— Shares of this pet medication company plummeted by over 7% following a report from The Wall Street Journal examining potential side effects of arthritis drugs Librela and Solensia by Zoetis.

Arista Networks

— The company’s shares went down by 9% after a double downgrade at Rosenblatt from ‘buy’ to ‘sell’. The firm cautioned that Arista’s artificial intelligence prospects might be overestimated.

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Prism Stocks making the biggest midday moves: Globe Life, JPMorgan, Zoetis, Wells Fargo and more

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