IBM CEO Arvind Krishna attends a panel discussion at the World Economic Forum in Davos, Switzerland, May 24, 2022.
Hollie Adams | Bloomberg | Getty Images
Check out the companies making headlines on Tuesday at noon.
IBM – IBM shares fell 6.6% after the technology company warned of a potential $3.5 billion hit from a strong US dollar. That warning overshadowed better-than-expected earnings and revenue for the prior quarter.
Boeing – Shares of the aerospace giant rose nearly 4%, continuing a rising trend for the stock, after Boeing announced several deals for plane orders. The agreements include an order for five 787 Dreamliners from AerCap and orders for 737 Max jets from Aviation Capital Group and 777 Partners. Boeing shares rose more than 10% in July.
Chipmakers – Semiconductor stocks surged ahead of a key Senate vote on the CHIPS Act, which could take place as early as Tuesday. The legislation would give domestic chipmakers $52 billion in government subsidies. Marvell Technology, ASML Holding, Applied Materials and Advanced Micro Devices all gained more than 4%. Intel, Qualcomm and Nvidia all jumped more than 3%.
Goldman Sachs – Goldman Sachs shares rose nearly 5% to lead the Dow Jones Industrial Average higher on the bank’s post-earnings gains. Other bank stocks traded higher alongside Goldman. Bank of America rose 2.7%, while JPMorgan Chase climbed 1.7%.
Travel stocks – Shares of cruise lines and airlines surged as investors continue to debate consumer health and recession potential – while travel demand remains strong. Royal Caribbean, Carnival and Norwegian Cruise Line gained 6.6%, 7.6% and 3.6% respectively. United, Delta and American all traded more than 3% higher, while Southwest rose 2.9%.
Hasbro – Shares of Hasbro rose 2% after the company reported earnings per share that beat Wall Street forecasts. The toymaker’s revenue was slightly below analysts’ expectations. Hasbro’s results were partly driven by strong demand for tabletop games and higher prices.
Halliburton – Halliburton shares rose more than 1% on better-than-expected quarterly earnings and revenue. The oil services company posted earnings of 49 cents per share on revenue of $5.07 billion. Analysts polled by Refinitiv had expected earnings of 45 cents per share on revenue of $4.71 billion.
Ford – Ford shares jumped nearly 6% on Tuesday. A day earlier, the company unveiled the F-150 Raptor, its latest pickup truck. The truck is the most powerful, with 700 horsepower, and the most expensive, starting at $109,000.
Exxon Mobil – Exxon Mobil rose 2.3% after Piper Sandler moved the company from neutral to overweight and said the stock still had room to gain 25%. The company expects strong results for the company’s second quarter.
– CNBC’s Samantha Subin and Jesse Pound contributed reporting