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Top Stock Movers Now: Morgan Stanley, KLA, UnitedHealth Group, Target, and More
Key Takeaways
Major U.S. indexes were little changed at midday Thursday after Wednesday's big gains powered by strong bank earnings and a softer-than-expected inflation report.
Morgan Stanley ( MS ) shares gained after the financial firm reported results that beat forecasts as revenue from its equities trading unit soared and investors poured more money into initial public offerings (IPOs) underwritten by Morgan Stanley.
Shares of KLA ( KLAC ) and other semiconductor companies were also higher after TSMC ( TSM ) posted strong results . The chipmaker said it benefited from soaring demand for artificial intelligence chips.
Symbotic ( SYM ) shares took off as the AI-enabled robotics company expanded its partnership with retailer Walmart ( WMT ).
Meanwhile, UnitedHealth Group ( UNH ) stock slid Thursday as the health insurer reported weak revenue from premiums and higher insurance payouts.
Shares of Target ( TGT ) fell after the retailer didn’t raise its profit outlook even though holiday sales were better than it had projected.
Shares of Southwest Airlines ( LUV ) turned lower following a downgrade from Citi, which cited concerns about the airline's valuations and earnings.
Oil futures dropped and gold prices advanced. The yield on the 10-year Treasury note continued to slide . The U.S. dollar was up on the pound and euro, but lost ground to the yen in midday U.S. trading. Most major cryptocurrencies traded higher.
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