Check out the companies making headlines in midday trading.
BlackRock — Shares of the asset management giant rose 3.7% after BlackRock beat expectations on the top and bottom lines for the third quarter. The company reported $10.95 per share on $5.05 billion in revenue, fueled by a jump in fee revenue. Analysts surveyed by Refinitiv were expecting $9.35 per share on $4.9 billion in revenue.
JPMorgan Chase — Shares of JPMorgan fell 2.6% despite the bank's better-than-expected quarterly profit. Revenue for the largest U.S. bank by assets also came in higher than expected. The stock is up more than 26% this year. Other bank stocks also dipped ahead of earnings reports later this week. Bank of America almost 1% and Wells Fargo shed more than 1%. Citigroup also fell slightly.
Delta Air Lines — Shares of Delta Air Lines fell more than 5% after the company reported quarterly financial results. The company posted higher-than-expected revenue and its first quarterly profit without counting federal aid since the start of the pandemic. However, the airline said higher costs of fuel and other expenses will pressure its fourth-quarter earnings. Other air carriers also retreated. American Airlines shed and United Airlines lost roughly 3%.
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Moderna — Shares of the vaccine maker gained more than 3% ahead of the Food and Drug Administration's first step in deciding if Moderna should dispense booster doses of its Covid shot. The federal agency will host an advisory committee meeting later this week to discuss the matter. On Tuesday, FDA scientists said data shows two doses are still enough to protect against severe disease and death in the U.S. and declined to take a stance on whether it would back booster shots.
Advanced Micro Devices — The chip maker added nearly 4% and was among the highest gainers in the S&P 500 Tuesday. The move comes amid the ongoing global chip shortage, and despite recent weakness in other chip stocks. Xilinx, which AMD plans to acquire, gained 3.6%.
Apple — Apple shares fell less than 1% after Bloomberg reported the company would cut its iPhone production due to the chip shortage.
Plug Power — Shares of the hydrogen fuel cell maker jumped more than 11% after it announced a partnership with aircraft maker Airbus to decarbonize air travel and airport operations. It plans to make a U.S. airport the first "hydrogen hub" pilot airport.
Vimeo — The video platform company gained 12% after it reported monthly metrics for September, recording a 33% jump in revenue from the previous year and a 16% increase in average revenue per user. Wells Fargo also initiated coverage of the stock with an overweight rating.
Monster Beverage — Energy drink maker Monster's shares slid almost 3% after an analyst at Jefferies downgraded the stock to a hold from a buy and lowered its price target to $92 from $113.
WestRock — The paper and packaging company fell 2.6% after Truist initiated coverage of the stock with a hold rating, giving it a $47 price target with 8% implied downside.
Sarepta Therapeutics — Biotech firm Sarepta tumbled more than 12% after issuing guidance below analysts' forecasts and announced a $500 million stock offering.
— CNBC's Hannah Miao and Jesse Pound contributed reporting
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