Stocks making the biggest moves midday: Nvidia, Goldman Sachs, Lockheed Martin and more

by | Oct 17, 2023 | Financial

Check out the companies making headlines in midday trading. Lockheed Martin — The defense company gained about 0.6% after it reported third-quarter results that beat expectations. The company posted $6.73 in earnings per share on $16.88 billion in revenue. Analysts surveyed by LSEG, formerly known as Refinitiv, had forecast $6.67 in earnings per share on $16.74 billion in revenue. Shares of defense peers also gained on the news, with Circor International jumping 5.5%. Nvidia — The chip stock dropped more than 3% after the U.S. Department of Commerce said Tuesday it plans to ban the export of more artificial intelligence chips to China. Other chipmakers also moved lower on the news, including Marvell Technology, Advanced Micro Devices and Broadcom. Dollar Tree — The discount retailer jumped 4.1% after getting an upgrade from Goldman Sachs to buy from neutral. The investment bank sees strong earnings growth potential and likes DLTR’s compelling valuation. Ollie’s Bargain Outlet , which was also upgraded to buy at Goldman, added 3.8%. Johnson & Johnson — The pharmaceutical giant fell slightly despite posting better-than-expected earnings and sales for the third quarter. J & J posted adjusted earnings per share of $2.66 on $21.35 billion in revenue. Analysts polled by LSEG forecast an adjusted $2.52 in earnings per share and $21.04 billion in revenue. The company said pharmaceutical sales growth …

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