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In Sydney, Australia, a notice is posted in the Goldman Sachs reception area. Reuters/David Gray Take a look at the companies that are making news in noon trade. JPMorgan Chase, Goldman Sachs, and Bank of America led the market rally on Friday as bond yields recovered. As the 10-year Treasury yield rose 6 basis points to 1.35 percent, JPMorgan, Goldman Sachs, and Bank of America all gained more than 3%. On Thursday, the benchmark yield hit a new low of 1.25 percent, raising fears of an economic downturn. American Airlines and United Airlines both saw their stock prices bounce on Friday after losses linked to the highly infectious delta Covid variant fanned concerns about the global economic recovery. American Airlines, Southwest Airlines, and Alaska Air Group all saw their stock prices rise by more than 2.5 percent. United’s stock rose 2.8 percent in noon trading. Carnival Corp., Norwegian Cruise Line, and Royal Caribbean — On Fridays, shares of reopening plays such as cruise lines rallied, recouping losses from the previous day. Carnival increased by 1.9 percent, while Norwegian Cruise Line increased by 2%. The stock of Royal Caribbean increased by about 3%. Discover Financial Services — The credit card company’s stock surged 5.6 percent after Citi upgraded it from neutral to buy following a shift in analyst coverage. “As pandemic-related advantages expire and increased payment rates return to lower levels,” Citi said, Discovery “has the clearest near-term route to gain from the resumption of consumer card spending and lending.” GM — General Motors Wedbush initiated coverage of General Motors with an outperform rating and a $85 price target, resulting in a rise of more than 4%. From Thursday’s closing, that aim represents a gain of more than 51%. In a note, Wedbush analyst Dan Ives said, “CEO Mary Barra, together with other key leaders, has pushed the heritage auto firm back to the top of the auto sector in the United States.” Levi Strauss is a well-known American designer. Levi Strauss stock increased by more than 2% after the retailer beat Wall Street estimates in its fiscal second-quarter results. On $1.28 billion in revenue, Levi reported adjusted earnings of 23 cents per share. According to Refinitiv, analysts predicted earnings of 9 cents per share on revenue of $1.21 billion. Didi and Chinese enterprises listed on the New York Stock Exchange — Didi’s stock surged more than 5% on Friday, reversing a recent sell-off following Chinese regulators’ announcement of a cybersecurity examination of the business last week, just days after it went public on the New York Stock Exchange. Several other Chinese companies’ shares that are traded in the United States have also recovered. Pinduoduo gained 1.6 percent, while Tencent Music Entertainment Group gained 1.7 percent. Baidu and Alibaba both increased by more than 3%. Virgin Galactic — Shares of the space tourism business plummeted more than 3% after Susquehanna boosted its price target for Virgin Galactic’s stock to $45 from $20, but kept its neutral rating and warned the stock’s price has gone too far, too quickly. Signature Bank surged more than 5% after UBS confirmed its buy rating on the New York-based bank, owing to the company’s “early advantage” in crypto adoption as well as the reopening of New York City. Signature Bank has a reputation for being accommodating to cryptocurrency businesses, who often have trouble securing banking links. Match Group, Bumble — RBC Capital Markets initiated coverage of both Bumble and Match at outperform on Friday, causing the dating service stocks to rise. In a message to customers, the business stated that internet dating still has a long way to go. Bumble’s stock increased by around 4%, while Match Group’s stock increased by more than 2%. AMC Entertainment (American Movie Classics) — In lunchtime trading, the movie theater chain’s shares fell 1.9 percent as Wall Street analysts decried the company’s choice not to issue further equity. AMC, a popular trade among Reddit users and now dubbed a “meme” stock, is making a “major mistake for the shareholders” by refusing to enable the business to issue new stock at “extremely inflated prices,” according to Loop Capital’s Alan Gould. — Maggie Fitzgerald, Jesse Pound, Yun Li, Tom Franck, and Tanaya Macheel of CNBC contributed to this report. CNBC Pro can help you become a better investor. Get stock recommendations, analyst calls, exclusive interviews, and CNBC TV access. To begin your free trial, fill out the form below./nRead More

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