Coinbase, Virgin Galactic, Nvidia, UnitedHealth and more

Look at the companies that make headlines in the afternoon trading.

UnitedHealth – The giant’s shares in healthcare rose more than 3% after the results exceeded street forecasts. Adjusted earnings, according to FactSet, rose to $ 5.31 per share, exceeding the $ 4.39 per share analysts expect. UnitedHealth has also increased its earnings lead for 2021.

Virgin Galactic – Space shares tumbled more than 12% to turn negative this year, after documentation showed that founder Richard Branson had sold more than $ 150 million to the company’s share over the past three days. Branson, and four entities it controls, including Virgin Group, sold 5,584,000 shares of Virgin Galactic between April 12 and April 14.

Rite Aid – Shares in the pharmacy chain tumbled more than 8% after the company’s loss in the fourth quarter was greater than expected. Rite Aid reported a loss of 78 cents per share on $ 5.92 billion in revenue. Analysts surveyed by Refinitiv expected a loss of 76 cents per share and $ 5.80 billion in revenue. The company’s CEO said in a statement that the business was affected by a ‘historically mild’ cold and flu season.

Coinbase – A day after the debut of the cryptocurrency on the Nasdaq, shares rose 1.5%. The company has achieved a buyout figure and $ 500 per share price target, which implies about 50% upwards from the end of yesterday. The exchange of cryptocurrencies also gained confidence in popular investor Cathie Wood, whose firm Ark Invest bought about $ 250 million worth of Coinbase on Wednesday.

Charles Schwab – The e-broker’s shares fell more than 3%, despite earning at the first and bottom end of its first quarter. Schwab also said it added a record 3.2 million new customers in the first quarter of 2021. The company added approximately 2.4 million new accounts during 2020, excluding accounts added to the acquisitions.

Nvidia – Slide share rose 4.6% after Raymond James upgraded the company to a strong buy. “Our call … is intended to express our conviction in the short and long term,” the firm wrote in a note to clients. Raymond James also increased his target on the stock from $ 700 to $ 750. The new target implies a 23% rise from where shares closed on Wednesday.

American Eagle – The retailer rose 3.7% after American Eagle said it expected revenue to exceed $ 1 billion in the first quarter. The figure is better than the $ 904.1 million analysts surveyed by Refinitiv. The company told CNBC that it is strong in its denim division, and that customers have also started buying more tops.

Bank of America – Bank shares fell 2.9%, even after a quarterly report topping Wall Street’s estimates of booming investment banking and trading results. Some analysts, including Ken Usdin of Jefferies, pointed to increased Bank of America spending in the quarter, while others saw weaker-than-expected weaker lending growth.

– Maggie Fitzgerald, Tom Franck, Pippa Stevens and Jesse Pound from CNBC reported.