IBM, Boeing, Hasbro, Ford and more

IBM Q2 2022 Earnings
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IBM CEO Arvind Krishna appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022.

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Take a look at the companies that make headlines in midday trading on Tuesday.

IBM – IBM shares fell 6.6% after the tech company warned of a potential $3.5 billion hit by a strong US dollar. That warning overshadowed better-than-expected earnings and revenue for the previous quarter.

boeing – Shares of the aerospace giant rose nearly 4%, continuing a bullish trend in stocks, after Boeing announced several deals for aircraft orders. The deals include an order for five 787 Dreamliners from AerCap and orders for 737 Max aircraft from Aviation Capital Group and 777 Partners. Boeing shares rose more than 10% in July.

Chipmakers: Semiconductor stocks rose ahead of a key Senate vote on the CHIPS bill, which could take place on Tuesday. The legislation would give domestic chipmakers $52 billion in government subsidies. Marvel Technology, ASML exploitation, Applied Materials and advanced microdevices all earned more than 4%. Intel, Qualcomm Y nvidia all jumped more than 3%.

Goldman Sachs — Goldman Sachs shares rose nearly 5% to lead the Dow Jones Industrial Average higher, riding post-earnings gains for the bank. Other bank stocks traded higher along with Goldman. Bank of America rose 2.7%, while JPMorgan Chase rose 1.7%.

Travel Stocks: Cruise line and airline stocks rose as investors continue to debate consumer health and the potential for a recession, while travel demand remains strong. royal caribbean, Carnival Y norwegian cruise line 6.6%, 7.6% and 3.6% respectively. United, Delta Y American all contributed more than 3% more, while south west advanced 2.9%.

Hasbro –Hasbro shares rose 2% after the company reported earnings per share that beat Wall Street’s forecast. The toymaker’s revenue was slightly lower than analysts had expected. Hasbro’s bottom line was driven in part by strong demand for board games and higher prices.

halliburton – Halliburton shares rose more than 1% on better-than-expected quarterly earnings and revenue. The oil services company posted earnings per share of 49 cents on revenue of $5.07 billion. Analysts polled by Refinitiv had expected a profit of 45 cents a share on revenue of $4.71 billion.

Ford –Ford shares rose nearly 6% on Tuesday. A day earlier, the company introduced the F-150 Raptor, its latest truck. The truck is the most powerful, at 700 horsepower, and the most expensive, starting at $109,000.

exxonmobile – Exxon Mobil rose 2.3% after Piper Sandler improved the company to overweight from neutral and said the stock has room to gain another 25%. The firm anticipates strong second quarter results for the company.

— CNBC’s Samantha Subin and Jesse Pound contributed reporting

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