On Thursday, July 15, 2004, Boeing employees walk past a new Boeing 737-900 at Boeing Field in Seattle. Getty Images | Bloomberg | Barry Sweet Take a look at the companies that are making news in noon trade. Boeing — Boeing’s stock dropped more than 3%. After a new fault was discovered on some of the planes, the plane maker halted production. Boeing also lowered its deadline for delivering the jets. PepsiCo is a beverage company based in the United States. After the firm beat top and bottom line estimates in the second quarter, shares of the snack and beverage giant rose more than 2% to a new all-time high. Pepsi earned an adjusted $1.72 per share on $19.22 billion in revenue, compared to $1.53 per share on $17.96 billion expected by Wall Street. As restaurant demand improves, the firm likewise boosted its projection. Electronic Arts jumped 2.5 percent after BMO Capital Markets upgraded the video game producer to outperform from market perform. According to the investment firm, the market appears to be underestimating the power of the video game market despite the economic downturn, and that some of EA’s games have upside potential in the coming year. Goldman Sachs — Despite a strong quarterly profits announcement, the New York-based bank’s stock plummeted more than 1%. In the midst of a booming IPO market, Goldman’s second-quarter earnings and revenue blasted beyond Wall Street’s projections, with its investment banking business posting its second-highest revenue quarter ever, trailing only the first quarter of 2021. Because the stock has already risen more than 40% this year, much of the good news may have already been factored in. Okta — Okta’s stock price increased by more than 2% after Goldman Sachs initiated coverage with a buy rating. The cloud and identity management company was well positioned in the transformation to digital, according to Goldman Sachs. Roblox — The video game company’s stock fell more than 2% after Benchmark launched covering with a sell rating on the stock. Concerns regarding the stock’s pull ahead during the epidemic were mentioned by the Wall Street company. JPMorgan Chase & Co. Despite announcing a quarterly profit of $3.78 per share for the second quarter, which above the $3.21 consensus projection, JPMorgan’s stock dropped approximately 2.6 percent. Revenue also exceeded Wall Street expectations. First Solar — The solar panel company’s stock fell less than 1% on Tuesday after Citi downgraded it from buy to neutral. In a statement to clients, the firm stated that First Solar’s stock has factored in a lot of good news for the company, including the possibility of green energy expenditure in a congressional infrastructure package. In the previous three months, the stock had risen roughly 20%. Conagra Brands — Despite beating both the top and bottom lines of its quarterly results, the food company’s stock dropped more than 4%. Conagra reported a profit of 54 cents per share on $2.74 billion in revenue. According to Refinitiv, analysts projected 52 cents per share on $2.71 billion in revenue. Hannah Miao, Jesse Pound, Pippa Stevens, and Yun Li of CNBC contributed reporting./n
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