Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.Justin Sullivan | Getty ImagesCheck out the companies making headlines in midday trading Monday.Abbott Laboratories — The medical device company jumped 7.8% following its earnings report. Abbott reported $1.03 earnings per share on revenue of $9.75 billion for the first quarter. Both beat Wall Street expectations, with analysts polled by FactSet anticipating 99 cents in earnings per share on $9.67 billion in revenue. The company reaffirmed its full-year adjusted earnings per share guidance of between $4.30 and $4.50, a range that encompasses the consensus estimate of $4.39.related investing newsNetflix — Shares of the streaming giant fell about 4% after the company posted a small revenue miss. Netflix posted a quarterly revenue of $8.16 billion, slightly below the $8.18 billion expectation per Refinitiv. Its earnings per share did beat estimates. Netflix also said it delayed the broad rollout of its password-sharing crackdown.Western Alliance, Zions Bancorporation — Shares of Western Alliance jumped nearly 21% on Wednesday after the regional bank said its deposits have been rebounding in April after declining 11% in the first quarter. Wedbush upgraded the beaten-down stock to outperform after Western Alliance’s quarterly report, despite the bank’s net income declining by more than 50% from the previous quarter. Other regional bank stocks gained during Wednesday’s trading session. Zion rose 4.3% ahead of its earnings report after the bell. Shares of Regions Financial and Comerica added 1.5% and 2.9%, respectively.United Airlines — The airline’s shares rose 6% Wednesday. Although the airline announced a net loss for the first quarter, CEO Scott Kirby said the company expects a profit in the second quarter. United posted a loss of 63 cents per share, which is 10 cents smaller than the 73-cent estimated loss from analysts polled by Refinitiv. The company reported $11.43 billion in revenue, slightly above the $11.42 billion estimated.Intuitive Surgical — Intuitive Surgical shares surged 11.8% after the company’s quarterly earnings and revenue came above Wall Street’s expectations. The company posted adjusted per-share earnings of $1.23, topping against a consensus estimate of $1.20 per share, according to FactSet. Revenue came in at $1.70 billion, compared to estimates of $1.59 billion.Tesla — The electric vehicle maker pulled back 1 % ahead of its scheduled quarterly earnings after Wednesday’s closing bell. Tesla investors are closing watching profit margins after a report on Tuesday of yet another price cut to U.S. versions of the Model 3 and Model Y. So far this year, Tesla has slashed prices to both models six times. Analysts expect Tesla to report a 24.2% year-on-year increase in first-quarter revenue to $23.29 billion, but their average profit estimate has fallen by about 2.4% in the last three months, according to Refinitiv data.Bowlero — Shares of the bowling alley and entertainment company gained nearly 5% after Jefferies initiated Bowlero with a buy and says it sees “strong growth and robust free-cash flow opportunity.”Rivian Automotive — The stock dropped nearly 3.5% following a downgrade sector perform from outperform by RBC Capital Markets. The Wall Street firm slashed Rivian’s price target to $14 from $28 per share, and said it sees limited catalysts to accelerate profitability in the near term.CDW — Shares of the IT company plunged 13.7% after it reported a weaker-than …
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