Twitter, Bank of America, Charles Schwab and more

Try the businesses making headlines in noon buying and selling.

Twitter — Shares rose 7.5% after Twitter introduced Friday that the board adopted a restricted period shareholder rights plan, also known as a “poison tablet.” The transfer comes after billionaire Elon Musk supplied to purchase the corporate for $43 billion.

Financial institution of America — Shares jumped 3.4% after Financial institution of America reported an earnings beat on Monday. Financial institution of America topped expectations within the first quarter with earnings of 80 cents per share and $23.33 billion in income, helped by energy in shopper lending. Analysts surveyed by Refinitiv anticipated earnings of 75 cents per share and $23.2 billion in income.

Financial institution of New York Mellon — Shares fell 2.3% after the corporate’s income missed Wall Road estimates. Income got here in at $3.93 billion, whereas the Refinitiv consensus estimate was $3.97 billion. The financial institution topped earnings estimates by a penny per share.

Synchrony Monetary – Shares of the monetary providers agency superior 6.2% after the corporate reported a beat on quarterly revenue and income estimates. The board additionally accredited a $2.8 billion addition to the corporate’s inventory buyback plan and a 5% dividend improve to 23 cents per share.

Charles Schwab — Shares of Charles Schwab fell 9.4% after the corporate missed analyst estimates on the highest and backside strains within the first quarter. The corporate reported earnings per share of 77 cents on $4.67 billion in income. Analysts anticipated 84 cents per share on income of $4.83 billion.

Southwest Gasoline — The utility inventory rose 5.7% after Southwest Gasoline mentioned its board had approved the assessment of a full vary or strategic options, after receiving what it known as an “indication of curiosity” properly in extra of investor Carl Icahn’s $82.50 per share provide.

Didi International — Shares dropped 18.3% after the China-based ride-hailing agency reported a 12.7% drop in fourth-quarter income in contrast with a yr earlier. The corporate introduced a shareholding assembly could be held on Might 23 to vote on delisting from the New York Inventory Change.

Sirius XM Holdings — The satellite tv for pc radio inventory shed 3.1% after a downgrade to underweight from Morgan Stanley. Manufacturing points for brand spanking new automobiles, that are a serious space of recent subscribers for Sirius, may harm the inventory, Morgan Stanley mentioned.

Wendy’s — Shares of the fast-food chain dipped 2.1% after BMO downgraded Wendy’s to market carry out from outperform. The agency mentioned in a notice to shoppers that Wendy’s would undergo from a squeeze on shopper spending brought on by inflation.

Progressive — Shares of the corporate fell 2.2% after Piper Sandler downgraded the insurance coverage firm to underweight from impartial. “We expect PGR’s inventory displays an excessive amount of optimism about how briskly rising auto insurance coverage costs will enhance PGR’s earnings. We anticipate PGR will miss future earnings expectations,” Piper Sandler mentioned.

Hole — Shares rose 1.2% after Morgan Stanley upgraded Hole to equal weight from underweight. The agency mentioned the draw back in Hole shares is already “priced in.”

— CNBC’s Jesse Pound, Sarah Min, Samantha Subin and Tanaya Macheel contributed reporting