Check out the companies making headlines in midday trading.Â
BoeingÂ âÂ Shares of Boeing jumped nearly 32% after the Senate and White House agreed to a $2 trillion stimulus bill that should prove to be a windfall for the struggling aerospace industry. Boeing is the best-performing stock in the Dow Jones Industrial Average, on pace for its best day since 1974. The stock has risen 74% this week alone, paring its 2020 losses to about 48%.
TJX Companies â Shares of TJX jumped 10% after an analyst at RBC Capital Markets upgraded them to outperform from sector perform. The analyst said that while the retailer is “undoubtedly experiencing a material deceleration as the COVID-19 pandemic intensifies, we see longer-term market share opportunities ahead as this event accelerates industry consolidation.”
Nike â Shares of the apparel company spiked 11% in early trading after reporting higher-than-expected sales data on Tuesday night. The company generated $10.1 billion in revenue for its fiscal third quarter, while analysts expected $9.8 billion, according to Refinitiv. The company said its business in Greater China is now “significantly accelerating” as that country relaxes restrictions due to the coronavirus.
Norwegian Cruise Line, Royal Caribbean, CarnivalÂ â Cruise lines, one of the hardest-hit industries from the spreading coronavirus, rose after the White House and Senate finally agreed on a stimulus bill. Shares of Norwegian Cruise Line jumped 23%, Royal Caribbean Cruises rose 16% and Carnival gained more than 7%.
Target â Target shares fell more than 6% after the retailer withdrew its 2020 sales guidance and suspended its share repurchase program as the coronavirus outbreak increases uncertainty. “We are prioritizing the work that’s in front of us to support our team, store operations and supply chain,” CEO Brian Cornell said in a statement.
Apple â Shares of Apple jumped nearly 3% after Deutsche Bank upgraded the tech giant to buy from hold. The firm said it’s “tilting bullish” on the stock and listed several key drivers of the stock includingÂ iPhone, AirPods, Services, and gross margins.
American Airlines, Delta Air Lines, United AirlinesÂ â Airline stocks rallied after the White House and Senate agreed on a $2 trillion coronavirus stimulus bill. Airlines has been one industry hit the hardest by the virus’ impact on travel. Shares of American Airlines jumped 13%, United Airlines rose 11% and Delta Air Lines gained 14%. Southwest shot up 8% and Alaska Air Group rose more than 5%.
Hilton, Marriott â Hotel stocks jumped in early trading as Congressional leaders reached an agreement on the coronavirus relief bill. Shares of Marriott surged more than 10%, while Hilton rose 6.4%. Hedge fund manager Bill Ackman said in a letter to investors that his fund used some of its profits from a market hedge to buy Hilton shares.Â Casino stocks MGM Resorts and Wynn both posted double-digit gains, as well.
â CNBC’s Fred Imbert, Maggie Fitzgerald, Jesse Pound contributed reporting.
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