Microsoft Corporation headquarters in Issy-les-Moulineaux, near Paris, France, April 18, 2016.
Charles Platts | reuters
Check out the companies making headlines in afternoon trading.
JB Hunt Transport Services – Transportation stocks jumped 4% after executives said on an earnings call that they expect to see the freight market slide in the second quarter as inventory resets in the third quarter. According to StreetAccount, the company reported fourth-quarter results that fell short of analysts’ expectations on both the top and bottom lines.
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modern Shares rose 2.7% a day after the pharmaceutical company said its respiratory syncytial virus vaccine Effective in preventing disease in older adults.
Cheese Shares plunged 15% after Needham said it held off on buying Chegg, saying the online education company will have trouble reaching consensus on full-year revenue growth at Chegg Services, according to StreetAccount.
Microsoft – Shares of the technology giant fell 1% after announced plans to cut 10,000 jobs Attempt to reduce costs through March 31 as economic uncertainties persist and growth slows. Microsoft also said it is taking a $1.2 billion charge associated with lease consolidation and other activities.
Mobileye Shares of the assisted driving company soared 8% after Deutsche Bank Initiated coverage of the stock as a purchase, The firm said Mobileye’s technology is superior and could help the company become a Tier 1 auto supplier.
Oatly Group — Shares of Oatly Group fell nearly 2%, losing steam after Mizuho upgraded the stock to buy from neutral. The firm said that improving capacity should accelerate the growth of Plant Beverage Company.
go Daddy — Shares rose more than 3% after Evercore ISI upgraded GoDaddy to outperform from the line, saying the firm has a “reasonably recession-resistant business model.”
Difference — Shares jumped 2% after Morgan Stanley upgraded Gap from underweight to equal weight, saying the stock has “more than enough downside” at current levels.
PNC Financial Services Group Shares of the mid-sized bank fell more than 5% on Wednesday after PNC missed Wall Street’s top and bottom estimates. PNC reported $3.49 in adjusted earnings per share on $3.68 billion in revenue for its fourth quarter. Analysts polled by StreetAccount had penciled in $3.95 per share on revenue of $3.74 billion. Net income was down from the third quarter due to higher provisions for credit losses.
yeti holdings – Shares of Lifestyle Outdoor Brands Company have declined by about 10 percent. Downgraded by Cowen to Market Perform with better performance. The Wall Street firm said that e-commerce traffic is trending down.
hancock whitney — Shares fell more than 4% after the bank reported earnings that were mostly in line with expectations, but net interest income fell short of expectations, according to StreetAccount.
— CNBC’s Michelle Fox, Jesse Pound, Alex Harring and Yun Lee contributed reporting.