Check out the companies that made headlines in midday trading: Tesla — The electric car maker’s stock fell more than 7% after its robotaxi event left investors underwhelmed. Morgan Stanley analysts said the event “disappointed overall, with a lack of detail in several areas, including how the company will compete with ride-sharing companies like Lyft and Uber.” ” he pointed out. The stock prices of these names skyrocketed after the event, with both rising about 10%. Wells Fargo — Shares rose 6% after the San Francisco-based lender reported better-than-expected profits. Adjusted earnings for the third quarter were $1.52 per share, beating analysts’ estimates of $1.28 per share compiled by LSEG. However, sales came in at $20.37 billion, slightly below the consensus estimate of $20.42 billion. JPMorgan Chase — Shares rose 4.7% after America’s largest bank reported third-quarter results that beat expectations for profit and revenue. The company said it generated better-than-expected interest income and that profits were down 2% year-on-year, but sales were up 6%. Symbolic — The stock rose 6%, extending the gains seen in the previous session. On Thursday, robotics company Symbotic announced a deal with Walmex (also known as Walmart de Mexico y Centroamerica) to deploy multiple warehouse automation systems at two of the retailer’s locations. It soared more than 18%. FASTENAL — Industrial shares rose more than 8% after the company reported better-than-expected third-quarter results. During the period, Fastenal posted earnings of 52 cents per share on revenue of $1.91 billion. Analysts polled by FactSet had expected earnings of 51 cents a share and revenue of $1.9 billion. Affirmative — The stock price rose 10% after Wells Fargo upgraded the stock from equal weight to overweight. The investment firm expects the profitability of “buy now, pay later” companies to improve in the future, citing the partnership with Apple Pay and the low interest rate environment as growth drivers. Bank of America — The stock rose nearly 5% even as Warren Buffett’s Berkshire Hathaway cut its stake in the bank below 10%, a threshold that requires frequent disclosure. On Thursday night, Buffett disclosed the sale of more than 9.5 million shares in a filing with the U.S. Securities and Exchange Commission, bringing his current ownership percentage to approximately 9.987%. Stellantis — Shares fell more than 2%. The automaker announced major internal reforms. Finance Director Natalie Knight is stepping down and will be replaced by Doug Osterman. Stellantis also confirmed that it is already looking for a replacement for CEO Carlos Tavares, who will retire in early 2026. BlackRock — Shares rose 2.8% after the asset manager beat analysts’ expectations for third-quarter revenue and bottom line. BlackRock’s adjusted earnings were $11.46 per share on revenue of $5.2 billion, compared with analyst estimates compiled by LSEG of $10.33 per share and revenue of $5.01 billion. Kinder Morgan — The energy infrastructure stock rose 3% after Bank of America upgraded the stock to buy from neutral. The bank said Kinder Morgan is in “growth mode” after stabilizing its underlying businesses. Ferrari — The luxury auto stock rose nearly 3% after JPMorgan upgraded its rating from neutral to overweight. The company cited optimism about Ferrari’s electric vehicle development and its resilience to China’s weakening economy. Bank of New York Mellon — Bank shares fell 1% even though the company released a stronger-than-expected quarterly report. BNY reported adjusted earnings per share of $1.52 on revenue of $4.65 billion, with both fee and non-interest income increasing year over year. Analysts surveyed by LSEG expected earnings of $1.42 per share on sales of $4.54 billion. —CNBC’s Alex Harring, Lisa Kailai Han, Pia Singh, Hakyung Kim, Jesse Pound and Michelle Fox contributed reporting.
