Midday Stock Movers: Sea Ltd, Citigroup, United Airlines

2022.05.17 19:16

By Sam Boughedda

Investing.com — U.S. indices are higher Tuesday with the Nasdaq up almost 2% at lunchtime. Here are your midday movers on Tuesday, May 17th.

• Sea Ltd (NYSE:SE) has surged 17% after it topped first-quarter earnings and revenue expectations. The tech company posted a loss per share of $0.80 on revenue of $2.9 billion, above estimates of a $1.26 loss per share and revenue of $2.86 billion.
• Walmart Inc (NYSE:WMT) has plunged 9.77% after it missed quarterly earnings estimates by a wide margin and cut its profit outlook due to inflation. Walmart posted earnings of $1.30 per share, below the $1.47 per share expected.
• United Airlines (NASDAQ:UAL) has jumped 6% after it raised its current quarter revenue guidance. The carrier now expects total revenue per available seat mile to be 23% to 25% above the same period in 2019.
• Take-Two Interactive Software (NASDAQ:TTWO) is trading 8% above Monday’s close after the video-game company revealed a rise in quarterly net bookings of 8%. The company reported weaker than expected guidance and a miss on revenue, but Jefferies analyst Andrew Uerkwitz said the results were “better than feared.”
• JD.com ADRs (NASDAQ:JD) are 3.5% higher after the China-based company beat quarterly revenue estimates. The eCommerce giant saw demand rise due to Covid-related lockdowns in the country.
• Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) acquired a nearly $3 billion stake in Citigroup Inc (NYSE:C), sending the U.S. lender’s shares up 7.8%.

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