AT&T, Dow, Fisker, Southwest Airlines & more

A traveler wearing a protective mask speaks to a representative in the Southwest Airlines check-in area at Oakland International Airport in Oakland, California, United States on Tuesday, January 19, 2021.

David Paul Morris | Bloomberg | Getty Images

Check out the companies that are making headlines in mid-day trading.

AT&T – The telecommunications and media stock rose 4.6% after an unexpectedly strong report for the first quarter. AT&T made an adjusted 86 cents per share on sales of $ 43.94 billion. Analysts polled by Refinitiv expected 78 cents per share and sales of 42.69 billion US dollars. CEO John Stankey was also optimistic about HBO Max, the company’s streaming service.

Fisker – Electric vehicle stocks tumbled 7% after Goldman Sachs downgraded Fisker to sell from neutral. The investment firm said in a notice to clients that it is concerned that the early-stage company will face stiff competition once it launches its vehicles.

Dow – Dow stocks fell more than 4% even after the chemical company beat the income statement for its quarterly results. Dow reported earnings of $ 1.36 per share on sales of $ 11.88 billion. According to Refinitiv, analysts expect earnings of USD 1.14 per share on sales of USD 11.09 billion.

Danaher – The life sciences company’s shares fell 4% after a better-than-expected quarterly report. Danaher reported earnings of $ 2.52 per share, well above Wall Street’s forecast of $ 1.75 per share, according to Refinitiv. The company had sales of $ 6.86 billion, above the expected $ 6.26 billion.

Biogen – Biotechnology stocks fell 2% despite a stronger-than-expected quarterly report. The Stifel analyst noted that the solid gains were overshadowed by uncertainty surrounding the Alzheimer’s drug aducanumab.

Southwest Airlines – Southwest Airlines shares fell 1.4% in midday trading after the airline announced it had improved bookings for vacation travel during the summer months. It told investors in its earnings results that it expects to break even or “better” by June. In the three months ended March 31, the company posted a loss of earnings that was below expectations.

Blackstone Group – The investment giant rose 5% around noon in New York City after posting a record quarterly profit as its bets on fast-growing companies paid off in the first quarter. Blackstone’s private equity portfolio rose 15.3% in value, well ahead of the S&P 500’s 5.8% gain over the same period. The company is an investment in online dating platform Bumble and genealogy company Ancestry.

Las Vegas Sands – Casino shares fell 1.7% after losing sales. According to FactSet, Las Vegas Sands had first-quarter sales of $ 1.196 billion versus analysts’ expected sales of $ 1.327 billion.

– CNBC’s Maggie Fitzgerald, Jesse Pound and Tom Franck contributed to the coverage.

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