Check out the companies making headlines in midday trading. Apple — The iPhone maker’s shares added 2% in midday trading after SensorTower data showed App store revenue jumped 11% quarter to date for the fiscal first quarter of 2024, according to a note from Bank of America. The firm also noted an 8% increase in App store revenue in China. Nio — The Chinese automaker climbed about 3% after reporting a smaller-than-expected loss in the third quarter. Losses came in at 2.67 yuan per share, compared to the 2.91 yuan loss expected by analysts, according to LSEG, formerly known as Refinitiv. Nio has taken steps to bring down costs recently, including a 10% cut to its workforce last month. CVS Health — Shares gained 4% after CVS said it would overhaul the way it prices prescription drugs . The pharmacy chain also issued higher-than-expected revenue guidance in 2024. The company now expects revenue of at least $366 billion, while analysts polled by FactSet forecast $344.5 billion. CVS also plans to raise its quarterly dividend nearly 10%. UBS — Shares pulled back more than 2% following a downgrade to neutral from Bank of America. The firm said it sees “a lengthy 2024” with “heavy lifting” for UBS as the bank integrates Credit Suisse following its acquisition. Lands’ End — The retailer surged roughly 7% as investors parsed its …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. Apple — The iPhone maker’s shares added 2% in midday trading after SensorTower data showed App store revenue jumped 11% quarter to date for the fiscal first quarter of 2024, according to a note from Bank of America. The firm also noted an 8% increase in App store revenue in China. Nio — The Chinese automaker climbed about 3% after reporting a smaller-than-expected loss in the third quarter. Losses came in at 2.67 yuan per share, compared to the 2.91 yuan loss expected by analysts, according to LSEG, formerly known as Refinitiv. Nio has taken steps to bring down costs recently, including a 10% cut to its workforce last month. CVS Health — Shares gained 4% after CVS said it would overhaul the way it prices prescription drugs . The pharmacy chain also issued higher-than-expected revenue guidance in 2024. The company now expects revenue of at least $366 billion, while analysts polled by FactSet forecast $344.5 billion. CVS also plans to raise its quarterly dividend nearly 10%. UBS — Shares pulled back more than 2% following a downgrade to neutral from Bank of America. The firm said it sees “a lengthy 2024” with “heavy lifting” for UBS as the bank integrates Credit Suisse following its acquisition. Lands’ End — The retailer surged roughly 7% as investors parsed its …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
