Stocks making the biggest moves midday: Globe Life, JPMorgan, Zoetis, Wells Fargo and more

Check out the companies making headlines in midday trading. JPMorgan — The bank fell 5% after disclosing that its net interest income level could fall short of Wall Street analysts' expectations in 2024, despite beating both top- and bottom-line estimates in its last quarter. CEO Jamie Dimon also underscored the danger of inflationary pressures. Wells Fargo — Shares of the bank inched lower by less than 1% after it reported a decline in net interest income during the first quarter.

The slide was induced by a report from Fuzzy Panda Research , where the firm disclosed a short position in the stock and made allegations of insurance fraud. Paramount — The entertainment company slipped nearly 2% after disclosing plans to reduce its board to seven directors from 11. Paramount is currently in talks of a merger with Skydance Media. Corteva — The agriculture chemical stock lost 3.8% after JPMorgan downgraded it to neutral from overweight.

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Source: CNBC - 🏆 12. / 72 Read more »

Stocks Tied to Artificial Intelligence Trading at a Premium, Says JPMorganJPMorgan analyst Samik Chatterjee notes that stocks tied to the artificial intelligence frenzy are trading at a premium compared to their historical trading average. Despite this, the stocks are still attractive and have been propelled to new heights by the AI trend. The underperformance of Tesla and Apple suggests that companies will need to prove they have a fundamental AI story rather than just riding the wave of Big Tech names.
Source: CNBC - 🏆 12. / 72 Read more »