Check out the companies making headlines in midday trading. United Airlines – Shares rose 14% after the airline reported a smaller-than-expected loss in the first quarter. Quarterly revenue was $12.54 billion, beating LSEG estimates of $12.45 billion. Traveler Companies – Insurance stock fell 8% after disappointing first-quarter report. Travelers said it had earnings of $4.69 per share on revenue of $10.18 billion. Analysts surveyed by LSEG were expecting $4.90 in earnings per share on $10.51 billion in revenue. Higher-than-expected catastrophic losses appear to be part of the reason for the loss of profits. Eli Lilly – Eli Lilly was steadfast even after announcing that its weight-loss drug Zepbound showed promising results in treating patients with obstructive sleep apnea. ResMed, which makes medical devices that treat sleep and breathing disorders, fell more than 6% on the news. ASML – The US-listed Dutch semiconductor equipment company's stock fell nearly 8% after sales and new bookings fell short of expectations. Net sales decreased by about 22% year-on-year. Interactive Brokers – Shares rose 3% after Interactive Brokers reported quarterly results that came in slightly ahead of Wall Street expectations. The company also raised its dividend to 25 cents from 10 cents. JB Hunt Transport Services – Transportation stock fell 7% on quarterly results that fell short of Wall Street estimates. JB Hunt reported earnings of $1.22 per share on revenue of $2.94 billion. Analysts expected earnings of $1.52 per share on revenue of $3.12 billion. TEXTURE – Shares of the parent company of Coach and Kate Spade fell about 1% after a report from the New York Times' DealBook that the Federal Trade Commission is preparing to block its acquisition of Versace owner Capri Holdings. Capri shares also fell 1%. Autodesk – Shares sank more than 4% after Autodesk said it would delay its $10K annual filing as a result of an ongoing internal investigation involving some of the company's accounting practices. US Bancorp – Shares of US Bancorp fell 5% after the regional bank cut its guidance for 2024 net interest income as a result of stubborn inflation and a longer-term higher interest rate environment. Abbott Laboratories – The healthcare stock fell 3.2% on weak current-quarter earnings guidance. Abbott said he expects between $1.08 and $1.12 per share, excluding items, a range at the lower end of the consensus analyst estimate of $1.12 polled by FactSet. This overshadowed a strong first quarter, in which the company beat analyst expectations on both lines. Alcoa – Aluminum stock rose 1% after President Joe Biden's expected announcement on Wednesday that he wants to triple China's tariff rate on aluminum and steel imports. Alcoa is scheduled to report earnings after the bell. Urban Outfitters – Shares fell 3.4% after Jefferies downgraded Urban to underperform from hold, citing near-term concerns about slowing traffic data for the apparel retailer, promotional headwinds and increased competition from peer retailers. — CNBC's Jesse Pound, Hakyung Kim, Pia Singh, Michelle Fox, Alex Haring and Sarah Min contributed reporting.
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Stocks making the biggest moves at midday: UAL, TRV, ABT
