Companies making biggest progress midday: Apple, Boeing, Lennox, DaVita & more. The stock of oilfield services company Halliburton jumped 9.2% following the company’s quarterly earnings report before the opening bell. The company beats estimates by 5 cents a share and reported adjusted quarterly profits of 35 cents a share.
Apple stocks added 2.3% as Morgan Stanley increased its price target to $247 from $231, referring to a positive setup into earnings. The company is set to release its quarterly earnings next week.
Stocks of the airplane manufacturer Boeing fell 1% after the negative outlook revealed by Fitch Ratings for the 737 Max maker. Fitch said that Boeing’s company’s debt could rise by $10 billion to more than $24 billion by the end of 2019.
Lennox’s stocks slid 5.3% as the company posted a reduction in guidance and missed earnings estimates from Wall Street for the second quarter. The air-conditioner maker reported earnings per share of $3.74, below the estimated $4.12.
DaVita also jumped 4.9% after the company’s second-quarter guidance beat analysts’ expectations. According to the dialysis services company, the improved expectation of profit from calcimimetics drug drove the earnings. The company said, “We expect operating income for the second quarter of 2019 to be between $460 million and $465 million, above estimates around $400 million provided by FactSet.”
“We believe that the excess inventory memory companies are carrying will be depleted faster than our previous expectations,” Goldman Sachs said.