Check out the companies making headlines in midday trading. General Motors — Shares of General Motors rose 8% after the automaker topped Wall Street’s estimates on the top and bottom lines and offered strong guidance for 2024. The company reported adjusted earnings of $1.24 per share on $42.98 billion in revenue for the fourth quarter of 2023. United Parcel Service — The package delivery company slumped 7% after UPS reported disappointing fourth-quarter revenue and guidance. Revenue of $24.92 billion was lower than the $25.43 billion consensus estimate from analysts polled by LSEG, formerly known as Refinitiv. UPS issued full-year revenue guidance between $92 billion and $94.5 billion, which was below the $95.57 billion anticipated by Wall Street. Bank of America , Citigroup — Shares rose after Morgan Stanley upgraded several large banks , saying the future is “bright” for the sector. Bank of America shares gained more than 3% following an upgrade to overweight from equal weight. Citigroup shares jumped 4% after an upgrade to overweight from underweight. JetBlue Airways — Shares of the airline fell almost 6% after JetBlue reported that it swung to a loss during the fourth quarter. The company said its capacity will decline in 2024 as it tries to return to profitability. Marathon Petroleum — Shares jumped nearly 4%, hitting a new 52-week high after the company reported a beat on the top and bott …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. General Motors — Shares of General Motors rose 8% after the automaker topped Wall Street’s estimates on the top and bottom lines and offered strong guidance for 2024. The company reported adjusted earnings of $1.24 per share on $42.98 billion in revenue for the fourth quarter of 2023. United Parcel Service — The package delivery company slumped 7% after UPS reported disappointing fourth-quarter revenue and guidance. Revenue of $24.92 billion was lower than the $25.43 billion consensus estimate from analysts polled by LSEG, formerly known as Refinitiv. UPS issued full-year revenue guidance between $92 billion and $94.5 billion, which was below the $95.57 billion anticipated by Wall Street. Bank of America , Citigroup — Shares rose after Morgan Stanley upgraded several large banks , saying the future is “bright” for the sector. Bank of America shares gained more than 3% following an upgrade to overweight from equal weight. Citigroup shares jumped 4% after an upgrade to overweight from underweight. JetBlue Airways — Shares of the airline fell almost 6% after JetBlue reported that it swung to a loss during the fourth quarter. The company said its capacity will decline in 2024 as it tries to return to profitability. Marathon Petroleum — Shares jumped nearly 4%, hitting a new 52-week high after the company reported a beat on the top and bott …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
