Check out the companies making the biggest moves midday: Southwest Airlines – Shares fell nearly 14% after the airline announced it “reassessed all prior full-year 2024 guidance, including the expectation for capital spending,” citing Boeing delivery delays. Southwest said its first-quarter leisure bookings were weaker than expected. The airline also forecast that its unit revenue would be flat to no more than 2% compared to a year earlier, lower than its previous estimate in January of an increase to 4.5%. Oracle — The database software stock rose 11% and headed for its best day since December 2021 after posting fiscal third-quarter earnings that beat Wall Street expectations. Oracle also reported a 12% increase in revenue within its cloud services and license support segment due in part to a spike in demand for AI servers. 3M — Shares added more than 3% after the company announced that William Brown, the former CEO of L3Harris Technologies, will become the new CEO of 3M effective May 1. Asana — Shares are surging about 11% after the work management platform issued a weak full. annual revenue guidance. Asana said it expects revenue between $716 million and $722 million, less than the forecast of $725 million estimated by analysts polled by LSEG. Microstrategy – The bitcoin developer gained 3.5% after a bullish comment from Wall Street analysts. Canaccord Genuity, which rates the stock a buy, raised its price target to $1,810, saying Microstrategy is not “resting on its laurels” amid the bitcoin rally. TD Cowen also raised its price target to $1,560 and reiterated an outperform rating. Boeing – Shares fell 4% after a New York Times report said the jet maker had failed 33 of 89 inspections on its 737 Max jet, with 97 cases of alleged non-compliance. The probe began after a door panel exploded on a Boeing 737 Max 9 on an Alaska Airlines flight in January. Acadia Pharmaceuticals – Shares plunged nearly 16% a day after the biopharmaceutical company said it was halting trials of its antipsychotic drug, pimavanserin, due to its failure to improve schizophrenia symptoms. American Airlines – The airline sank nearly 4% after providing first-quarter guidance at the low end of its previous range. American expects an adjusted loss of 15 cents to 35 cents per share, versus a 22 cent loss expected by analysts polled by FactSet. Management blamed higher fuel costs. Advance Auto Parts — Shares advanced 3% a day after the auto parts retailer said Dan Loeb’s Third Point and activist Saddle Point reached an agreement with the company giving them seats on the board of directors. On Holding – Shares fell 13.6% after the athletic shoemaker’s fourth-quarter earnings underwhelmed Wall Street. On lost 0.05 Swiss francs per share, while analysts polled by StreetAccount expected On to gain 0.10. Revenues came in at 447.1 million Swiss francs, also missing the consensus forecast of 450.9 million francs. Archer-Daniels-Midland – The agricultural giant rose 4% after it announced a plan to fix accounting problems that led it to correct some transactions in six years of financial results. Archer-Daniels Midland said the adjustments have no impact on its consolidated balance sheets, earnings statements, comprehensive income or loss or cash flows. The company also authorized a $2 billion stock buyback. New York Community Bancorp – Shares jumped more than 4% after the regional bank said it closed on a more than $1 billion equity investment transaction that strengthened its balance sheet. — CNBC’s Samantha Subin, Lisa Han, Alex Harring and Sarah Min contributed reporting.
3M Co ACADIA Pharmaceuticals Inc( t)American Airlines Group Inc Advance Auto Parts Inc Archer-Daniels-Midland Co Asana Inc Boeing Co Breaking News: Markets Business News earnings Market Insider markets MicroStrategy Inc New York Community Bancorp Inc New York Times Co On Holding AG Oracle Corp regwall-marketmovers Southwest Airlines Co stock markets Trade( t)Economy