Check out the companies making headlines in midday trading. Boeing — The aircraft maker jumped more than 5% after its losses from the end of last year came in lower than expected. Boeing reported an adjusted loss per share of 47 cents on revenue of $22.02 billion. Analysts had expected losses of 78 cents per share on $21.1 billion in revenue, according to LSEG, formerly known as Refinitiv. Its CEO said now is "not the time" for financial targets as the company deals with fallout from its fuselage panel blowout incident earlier this month. Alphabet — Shares fell 6.3% after the company posted disappointing fourth-quarter advertising revenue. Late Tuesday, Alphabet posted beats on both top and bottom lines, but its advertising revenue of $65.52 billion fell below analysts' forecast of $65.94 billion, per StreetAccount. Paramount Global — Shares of the media company popped about 7.5% on news that billionaire entrepreneur Byron Allen submitted a takeover offer to buy all outstanding shares. The deal values Paramount at about $30 billion, including debt and equity. Advanced Micro Devices — The chipmaker slid 2.7%. Late Tuesday, AMD posted fourth-quarter earnings and revenue that was in line with analysts' expectations , but its first-quarter forecast revenue of $5.4 billion came below the $5.73 billion analysts had been expecting. Microsoft — The tech giant's shares slid 1.4% on the back of its fiscal second-quarter earnings. Despite posting an earnings and revenue beat Tuesday, the company's fiscal third-quarter revenue outlook fell below analysts' expectations. Starbucks — Shares fell 0.5% after the coffee giant issued disappointing forward guidance due to a boycott in the U.S. and a weaker Chinese consumer. On Tuesday, Starbucks reported misses on both top and bottom lines in the fiscal first quarter. New York Community Bancorp — The regional bank stock plunged around 36%, falling to its worst day since it went public in 1993. The company reported that it recorded an adjusted fourth-quarter loss of $193 million, as well as a $552 million provision for credit losses. NYCB took over the failed Signature Bank during the regional bank crisis in 2023. Tesla — Shares of the electric vehicle maker slid 0.4% after a Delaware judge on Tuesday voided Tesla CEO Elon Musk 's $56 billion pay package, ruling that the company's board of directors failed to prove "that the compensation plan was fair." Plug Power — Shares jumped 21% after Roth MKM upgraded Plug Power to buy from neutral, citing smooth progress in its Georgia green hydrogen plant. The Wall Street firm raised its price target to $9 per share, implying the stock can more than double. SoFi Technologies — The digital banking stock shed 3.8% following a downgrade by Morgan Stanley to underweight from equal weight. Morgan Stanley noted SoFi is experiencing revenue headwinds and execution risks that can make achieving profitability goals less likely. Rockwell Automation — Shares of the industrial technology company fell 15% after Rockwell's fiscal first-quarter results missed expectations. The company reported $2.04 in adjusted earnings per share on $2.05 billion of revenue. Wall Street analysts were expecting $2.64 per share on $2.10 billion in revenue, according to FactSet. Rockwell's organic sales rose just 1% year over year, and free cash flow was negative during the quarter. Stryker — Shares jumped nearly 7% after the medical technology company delivered an earnings and revenue beat late Tuesday. Adjusted earnings per share for the fourth quarter came in at $3.46 versus the $3.27 expected, per FactSet. Revenue was $5.82 billion, topping the $5.60 billion consensus estimate. Canaccord Genuity upgraded the stock Wednesday, saying Stryker is in a favorable position to continue delivering growth. Manhattan Associates — The supply chain software provider surged 8% after fourth-quarter adjusted earnings and revenue topped analysts' estimates, per FactSet. The company also issued first-quarter financial guidance that surpassed expectations. — Our's Alex Harring, Samantha Subin, Sarah Min, Jesse Pound, Lisa Kailai Han, Michelle Fox and Pia Singh contributed reporting. Disclaimer: The copyright of this article belongs to the original author.
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