By Check out the companies making headlines in midday trading: Alcoa — Alcoa’s shares fell about 4% after CEO William Oplinger said on Wednesday that U.S. tariffs on Canadian imports would increase the cost of aluminum by $1.5 billion to $2 billion a year, and that increasing the cost of trade with Canada and Mexico would hurt the domestic supply chain and automotive market. Alcoa is the largest U.S. aluminum producer. American Airlines — Shares dropped 8% after the airline offered a disappointing first-quarter outlook . The company said it expects an adjusted loss of 20 cents to 40 cents per share. Analysts polled by LSEG had anticipated a loss of 4 cents per share. Elevance Health — Shares of the health insurance company rose 1.3% after Elevance beat fourth-quarter expectations. The company posted adjusted earnings of $3.84 per share on revenue of $45 billion, just beating the FactSet consensus call of $3.81 per share on revenue of $44.92 billion. Electronic Arts — Shares tumbled 17% after the video game publisher cut its net bookings guidance for both the third quarter and full year. Electronic Arts cited underperforming games, such as its soccer franchise, for the shortfall. Plexus — Shares of the aftermarket electronics product stock slipped 9% after the company gave a disappointing revenue outlook for the second quarter. Plexus expects revenue in the range of $960 million to $1 billion, lower than the $1.02 billion analysts called for, per FactSet. AST SpaceMobile — Shares declined more than 14% after the satellite company announced a $400 million convertible note offering . GE Aerospace — The stock popped nearly 7% after GE Aerospace posted a fourth-quarter earnings and revenue beat. The defense and aerospace company reported adjusted earnings of $1.32 per share, higher than the $1.04 analysts polled by LSEG had expected. GE Aerospace’s $9.88 billion in revenue also surpassed the $9.51 billion forecast. Guidewire Software — Shares jumped 9.9% after Goldman Sachs initiated coverage with a buy rating on the company. Guidewire Software, which provides cloud software platforms for property and casualty-focused insurance companies, stands to outperform as cloud adoption grows among insurers, according to Goldman. Union Pacific — Shares of the railway company jumped nearly 5% after Union Pacific posted fourth-quarter earnings that topped Wall Street’s estimates. Earnings came in at $2.91 per share, compared to analysts’ forecast for $2.78 per share, per LSEG. Revenue fell short of expectations, coming in at $6.12 billion in revenue. Analysts called for $6.14 billion. Alaska Air — The airline stock rose more than 4%. In the fourth quarter, Alaska Air posted adjusted earnings of 97 cents per share, topping the 47 cents projected by analysts, per FactSet. — CNBC’s Hakyung Kim, Jesse Pound, Samantha Subin, Lisa Han and Michelle Fox contributed reporting.
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
- Spike in UK borrowing costs raises specter of public spending cuts
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