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Stocks making the biggest moves midday: Twitter, Johnson & Johnson, WeWork and more

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April 19, 2022
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Vials labelled “COVID-19 Coronavirus Vaccine” and syringe are seen in front of displayed Johnson & Johnson logo in this illustration taken, February 9, 2021.
Dado Ruvic | Reuters

Check out the companies making headlines in midday trading Tuesday.

Johnson & Johnson — Shares of the pharmaceutical and consumer giant gained 3% after the company beat earnings expectations in its first-quarter report. Still, J&J lowered its full-year sales and earnings outlook and stopped providing Covid-19 vaccine revenue guidance due to a global supply surplus and demand uncertainty.

Twitter — Shares of the social media giant dipped 1% on news that Apollo Global Management is reportedly considering financing a potential takeover of Twitter. To be sure, the firm is not interested in joining a private equity consortium in a buyout bid. Apollo’s stock rose 2.8% following the report.

Airline stocks — Airline stocks jumped after the Transportation Security Administration said it is no longer enforcing mask mandates on planes. The news comes after a federal judge in Florida ruled that the CDC had overstepped its authority with the mandate. Shares of Delta, United Airlines and American Airlines rose 3.1%, 4% and 5.7%, respectively.

Blackstone — Blackstone’s stock rose 4.6% on news that it would buy student housing company American Campus Communities in a deal worth nearly $13 billion. Shares of American Campus surged 12.7% on the news.

Halliburton — Shares of the oilfield services giant dipped 1% even after Halliburton beat estimates for the latest quarter and raised its outlook for customer spending in North America for the year.

Citizens Financial — The bank posted better-than-expected quarterly results, sending its stock up more than 7%. Citizens reported a profit of 93 cents per share on revenue of $1.65 billion. Analysts expected earnings of 92 cents per share on revenue of $1.64 billion, according to Refinitiv. The company’s net interest margin also beat analyst expectations.

Travelers — The insurance company reported better-than-expected earnings and revenue for the previous quarter, thanks in part to lower catastrophe losses, but the stock fell more than 5%. Piper Sandler noted that the company’s “underlying margins were worse than expected” for the quarter.

WeWork — WeWork’s stock jumped 11.9% after Piper Sandler initiated coverage of the office-sharing company with an overweight rating. Analysts said WeWork is nearing profitability as it focuses on its balance sheet and the popularity of flexible work continues to grow.

Lululemon — Shares of the apparel retailer jumped nearly 5% after Truist upgraded Lululemon to buy from hold. Analysts are expecting a “robust” five-year outlook at Lululemon’s upcoming analyst day with greater details on new products and plans to expand internationally. Truist also believes the company can easily pass on higher costs to consumers in an inflationary environment.

Plug Power — Plug Power’s stock soared 9.3% the company announced a partnership with Walmart to supply liquid green hydrogen.

Hasbro — Shares of Hasbro rose 4.5% after the toymaker reported a stronger-than-expected revenue for the previous quarter. Sales from the company’s consumer products segment also topped analyst expectations.

— CNBC’s Yun Li, Hannah Miao and Sarah Min contributed reporting

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