Stocks Rise and Fall Amid Mixed Earnings Reports

NEW YORK — Midday trading on Wall Street saw notable fluctuations as earnings reports shaped the market’s direction. Companies like HP Enterprise, Boeing, and Bank of America drew significant attention after releasing their latest financial results.

HP Enterprise shares rose by 5%, following news that Elliott Management acquired a $1.5 billion stake in the cloud services company. According to a source familiar with the situation, Elliott Management plans to engage with HP Enterprise to discuss strategies for enhancing shareholder value.

Boeing experienced a slight decline, with shares falling after Bloomberg reported that Chinese airlines were ordered to suspend Boeing aircraft deliveries and halt equipment purchases from U.S. firms, citing anonymous sources.

In contrast, Bank of America shares surged nearly 4% after the bank posted first-quarter results that outperformed analysts’ expectations. The company reported earnings of 90 cents per share, surpassing the consensus estimate of 82 cents, alongside a revenue of $27.51 billion compared to the projected $26.99 billion.

Albertsons shares took an 8% hit as the grocery store chain provided full-year earnings guidance that fell short of investor expectations. The company forecasted adjusted earnings between $2.03 and $2.16 per share, well below the $2.28 anticipated by analysts. However, Albertsons exceeded earnings and revenue estimates for its fiscal fourth quarter.

Citigroup shares climbed nearly 4% after reporting better-than-expected results, with earnings of $1.96 per share on revenue of $21.50 billion, outpacing analyst estimates of $1.85 per share on $21.29 billion.

Netflix shares spiked almost 6% following a report from The Wall Street Journal that company executives outlined ambitious growth targets at a recent business review meeting, aiming for a $1 trillion market capitalization by 2030.

Rocket Lab reported nearly a 9% increase in shares after announcing new contracts to develop hypersonic technologies for the U.S. Air Force and U.K. Ministry of Defense.

On the downside, shares of beauty company Coty fell approximately 9% following a downgrade from Bank of America due to concerns over consumer spending trends. Similarly, Mobileye shares declined around 4% after Barclays changed its rating on the stock to equal weight from overweight due to potential challenges related to tariffs and consumer risks.

Howmet Aerospace saw a 2% decline after Wells Fargo downgraded it to equal weight, citing expensive valuations within a weakening economy. Dow also dropped about 3% as Bank of America downgraded its stock to underperform, referencing a “perfect storm” of issues affecting the chemical manufacturer.

This midday trading session highlights the volatility and rapid shifts in investor sentiment driven by company performance and broader economic indicators.