Stocks Making Moves Today: Morgan Stanley, KLA, UnitedHealth Group, Target, and More
U.S. stocks remained largely unchanged midday on Thursday, January 16, following strong gains the previous day, driven by positive earnings from major banks and a softer-than-expected inflation report.
Morgan Stanley (MS) saw an uptick in its shares after the financial firm surpassed earnings and revenue forecasts, particularly driven by robust performance in its equities trading unit and increased activity in initial public offerings (IPOs).
KLA (KLAC) and other semiconductor stocks also experienced gains after TSMC (Taiwan Semiconductor Manufacturing Company) reported strong results, benefiting from high demand for AI chips.
Symbotic (SYM) surged as the AI robotics company expanded its partnership with retail giant Walmart (WMT), fueling investor interest.
On the other hand, UnitedHealth Group (UNH) saw its stock fall after the health insurer reported weak revenue from premiums and higher-than-expected medical payouts.
Target (TGT) shares dipped after the retailer chose not to raise its profit outlook, even though holiday sales exceeded initial projections.
Southwest Airlines (LUV) also turned lower following a downgrade from Citi, which flagged concerns over valuation and earnings stability.
In commodities, oil futures dropped, while gold prices climbed. The 10-year Treasury yield continued to trend downward, and the U.S. dollar strengthened against the pound and euro but weakened against the yen. Most cryptocurrencies traded higher during midday trading.
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