Pedestrians pass in front of a Nordstrom Inc. store in the Midtown neighborhood of New York, on March 20, 2020.
Gabby Jones | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
Nordstrom – Shares of the retailer surged more than 16%, making it the top-performing stock in the S&P 500, as stocks sensitive to economies re-opening moved higher. Gap and Kohl’s were among the other retailers in the green, gaining 18% and 14%, respectively. Nordstrom will report first quarter earnings on Thursday after the market closes.
Tractor Supply – Shares of the farming supply retailer jumped more than 7% after the company said in an earnings pre-announcement that it expects to report record sales and profit for the second quarter. Since lockdown measures went into effect in mid-March, the stock has surged more than 45%, making it the top-performing retailer in that period. Tractor Supply is expected to report second-quarter earnings on July 23.
Twitter — Shares of the social media company fell 2.7% as President Donald Trump warned that he would take action against the company for putting a fact check warning on his posts about mail-in voting. “Twitter has now shown that everything we have been saying about them (and their other compatriots) is correct,” Trump said in the tweet. “Big action to follow!”
Zoom, Peloton — Zoom shares fell 1.2%, while Peloton was down about 3% as investors rotated out of these popular stay-at-home names amid the reopening of the economy. Amazon, which thrived during the pandemic, dipped about 0.5%.
United, American, Delta, Southwest — Airlines, which are positioned to benefit from the economy reopening, rose on Wednesday with United Airlines jumping 3.8%. American Airlines rose more than 7%. Southwest and Delta gained 3.5% and 2.6%, respectively.
Carnival, Norwegian Cruise Line, Royal Caribbean Cruises — Shares of cruise operators rallied as the economy continues to gradually reopen on hopes of recovery in demand. Carnival and Royal Caribbean Cruises both jumped more than 5%, while Norwegian Cruise Line gained 9.7%. These major cruise lines have been one of the most beaten down industries during the pandemic.
JPMorgan, Citigroup, Bank of America — Shares of big banks built on its recent comeback with JPMorgan jumping 5.7% and Citigroup and Bank of America gaining more than 8% each. Banks are rising on the hope of a successful economic reopening. The sector was one of the hardest-hit sectors amid the pandemic on profitability concerns and rising loan losses.
CNBC’s Maggie Fitzgerald, Jesse Pound and Pippa Stevens contributed reporting.
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Published at Wed, 27 May 2020 20:11:06 +0000-Stocks making the biggest moves midday: Nordstrom, Tractor Supply, Twitter, Zoom & more