By Check out the companies making headlines in midday trading. Quantum stocks – Quantum computing stocks gained after Microsoft unveiled its quantum-ready plan aimed at preparing businesses for the rise of quantum computers. Nvidia also announced a quantum day at its annual GTC conference. Rigetti Computing rallied more than 18%, while D-Wave Quantum surged nearly 20%. IonQ skyrocketed 33%. Beacon Roofing Supply – Shares of the specialty building products distributor jumped more than 10%, hitting a new 52-week high, after QXO announced that it has proposed to acquire the company for $124.25 per share in cash. That implies a total transaction value of $11 billion. Meanwhile, shares of QXO fell about 2% following the announcement. Wells Fargo – Shares of the San Francisco-based lender jumped nearly6% after the bank posted better-than-expected adjusted earnings and issued strong guidance on net interest income for 2025. The San Francisco-based lender said it expects 2025 net interest income, a key measure of what a bank makes on loans, to be 1% to 3% higher than 2024′s number of $47.7 billion. Goldman Sachs – The stock moved around 5% higher on the heels of the bank’s latest quarterly results exceeding expectations. Goldman earned $11.95 per share on revenue of $13.87 billion, while analysts had expected $8.22 per share on revenue of $12.39 billion, according to LSEG. Citigroup – Shares climbed more than 7% following the bank’s better-than-expected fourth-quarter results . Citigroup earned $1.34 per share on revenue of $19.58 billion compared to the consensus estimate of $1.22 per share on revenue of $19.49 billion, per LSEG. Bank of New York Mellon – Shares gained 6% after the bank’s fourth-quarter earnings topped Wall Street expectations. BNY Mellon reported adjusted earnings of $1.72 per share on $4.85 billion in revenue. Analysts surveyed by LSEG had penciled in $1.56 per share on $4.66 in revenue. JPMorgan Chase – The bank’s shares gained 2% on its strong fourth-quarter results , which surpassed analysts’ expectations given strong performances from JPMorgan’s fixed income and investment banking businesses. JPMorgan reported earnings of $4.81 per share on revenue of $43.74 billion. Analysts polled by LSEG called for a profit of $4.11 per share on revenue of $41.73 billion. BlackRock – The stock added 4.7% after the world’s largest asset manager posted a fourth-quarter earnings beat. Adjusted earnings came in at $11.93 per share, versus the $11.19 per share expected from analysts polled by LSEG. Its revenue of $5.68 billion also topped the $5.49 billion consensus estimate. CBRE Group – Shares advanced nearly 5% after Morgan Stanley upgraded the real estate stock to overweight from equal weight . The firm cited an increase in commercial mortgage backed securities issuance and spreads as a catalyst for more gains ahead. Calavo Growers – The avocado distributor slid more than 7% after it posted results for the the fiscal fourth quarter and full year. In the period, Calavo Growers posted $170 million in revenue, rising nearly 20% from a year earlier. Additionally, total net sales for fiscal 2024 rose 11.4% compared to the prior year , reaching $661.5 million. — CNBC’s Alex Harring, Samantha Subin, Yun Li, Pia Singh 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
- Israel-Hamas ceasefire hostage deal agreed
- Trump picks face Senate confirmation hearings
- South Korea’s impeached President Yoon Suk Yeol arrested, local media reports
- Trump to create External Revenue Service for tariff collection
- Biden administration will announce it’s lifting state sponsor of terrorism designation for Cuba
