MMM, NOC, HAL, CRWV and more
Check out the companies making headlines in midday trading. 3M — The manufacturing conglomerate jumped 8% on a first-quarter earnings beat. 3M earned an adjusted $1.88 per share on $5.78 billion of revenue, topping the LSEG consensus forecasts of $1.77 per share and $5.76 billion in revenue. RTX — The defense name sank 9%. Despite posting better-than-expected earnings for the first quarter, management’s comments to analysts about the expected impacts of tariffs rattled investors. CoreWeave – Shares of the artificial intelligence cloud company jumped more than 7% after a number of analysts initiated coverage of the stock with a buy or overweight equivalent rating. Jefferies analyst Brent Thill, for instance, said the company is “positioned well” to capture the opportunity presented by the “very early innings” buildout for AI. Northrop Grumman — Shares of the defense firm dove 13% after the company cut its full-year guidance for earnings per share. Northrop sees earnings per share between $24.95 and $25.35, down from a previous range of $27.85 to $28.25. Halliburton – The oilfield services company’s stock tumbled as much as 9.8% after Halliburton said President Donald Trump’s tariffs would impact its second-quarter earnings per share by 2 cents to 3 cents. CEO Jeffrey Miller said North American customers are evaluating their plans for 2025 as U.S. crude prices have declined. Shares were last down 5.2% Hertz — Trading in the rental car company remained volatile with the stock rising more than 15%. Shares have more than doubled since Bill Ackman’s Pershing Square revealed a 19.8% stake in Hertz with outright share ownership and total return swaps. Ackman said Hertz “uniquely well-positioned” in Trump’s tariff regime as auto duties are likely to cause used car prices to rise. BOK Financial — Shares fell 1.8% after earnings per share for the first quarter missed Wall Street expectations. The bank earned $1.86 per share, while the consensus estimate of analysts polled by FactSet came in at $1.99 per share. Zions Bancorporation — Shares of the bank ticked 1.4% lower on the heels of softer-earnings per share than anticipated, per FactSet. Zions earned $1.13 per share for the first quarter, under the consensus forecast of $1.18 a share. Calix — The technology services company surged 12% after posting strong earnings and optimistic guidance. Calix earned 19 cents per share, excluding items, on $220.2 million in revenue. Analysts polled by FactSet had penciled in 13 cents earned per share and revenue at $207.1 million. Medpace Holdings — Shares of the clinical research organization slid 4.9% after announcing new net business awards at $500 million for the first quarter That marks a nearly 19% decrease from the same period a year earlier. GE Aerospace — Shares gained 5% following the release of GE Aerospace’s first-quarter financial results. Adjusted earnings came in at $1.49 per share, beating the $1.27 per share anticipated by analysts polled by LSEG. However, revenue came in slightly below expectations. Verra Mobility — The travel technology stock popped 4.7% on the heels of Baird’s upgrade to outperform from neutral. Baird said the company has a “very strong” moat. Sportradar – Shares of the sports data stock rallied 9% on the back of Bank of America’s double upgrade to buy from underperform. The bank said Sportradar can benefit from the rise of online sports betting. — CNBC’s Sarah Min, Michelle Fox, Sean Conlon, Spencer Kimball and Yun Li contributed reporting
