See the companies making headlines in midday trading. JPMorgan — The bank’s shares fell 5% after it said its net interest income could miss Wall Street analysts’ expectations in 2024, despite beating both revenue and profit forecasts in the latest quarter. CEO Jamie Dimon also highlighted the dangers of inflationary pressures. Wells Fargo — The bank’s shares fell less than 1% after it reported lower net interest income in the first quarter. Wells Fargo beat analysts’ expectations for first-quarter adjusted earnings and revenue. BlackRock — BlackRock shares fell nearly 2%. The asset manager reported overall net inflows were below expectations, according to StreetAccount. BlackRock reported first-quarter adjusted earnings of $9.81 per share on revenue of $4.73 billion, beating analysts surveyed by LSEG (formerly Refinitiv) forecasts of $9.35 per share on revenue of $4.68 billion. Globe Life – Life insurance shares jumped 10% after falling more than 50% during Thursday’s session. The decline was prompted by a Fuzzy Panda Research report in which the firm disclosed a short position in the stock and made allegations of insurance fraud. Paramount — Shares of the entertainment company fell nearly 2% after it announced plans to trim its board of directors from 11 to seven. Paramount is currently in negotiations to merge with Skydance Media. CORTEVA — Agricultural chemicals shares lost 3.8% after JPMorgan downgraded the stock to neutral from overweight. The firm said the stock is not a buy ahead of its first-quarter earnings report given expected weakness. Ciena — Shares fell nearly 3% after Citi gave the software company a sell rating. The bank said investors are too optimistic about potential tailwinds in artificial intelligence, which are further away than they expect. Zoetis – The pet drug company fell more than 7%. The decline followed a report by The Wall Street Journal that looked at potential side effects of Zoetis’ arthritis drugs Librela and Solensia. Arista Networks – Shares fell 9% after Rosenblatt double downgraded from sell to buy. The firm warned that Arista’s artificial intelligence capabilities may be weaker than expected. — CNBC’s Michelle Fox, Alex Harring, Tanaya Machil and Pia Singh contributed reporting.
