Boeing, PepsiCo, Electronic Arts and more

Find out which companies are making the midday headlines.

Boeing – Boeing shares fell more than 3%. The aircraft manufacturer reduced production of its 787 Dreamliners after a new fault was detected on some of the jets. Boeing has also reduced its target for delivering aircraft.

PepsiCo – Shares of the snack and beverage company rose more than 2% to a new all-time high after the company beat earnings estimates in the second quarter. Pepsi earned adjusted $ 1.72 per share on $ 19.22 billion in revenue, compared to Wall Street’s expectations of $ 1.53 per share on $ 17.96 billion. The company has also raised its forecast as restaurant demand returns.

Electronic Arts – The video game publisher rose 2.5% after BMO Capital Markets upgraded EA to outperform the market. The investment firm said in a note that the market appeared to underestimate the strength of the video game market amid the economic reopening and that some of EA’s games show upside potential during the year to come.

Goldman Sachs – Shares of the New York-based bank fell more than 1%, even after an excellent quarterly earnings report. Goldman’s second-quarter earnings and earnings beat Wall Street expectations as its investment banking segment posted its highest-ever second quarter revenue, behind the first quarter of 2021, in a booming IPO market. Since the stock is already up over 40% this year, much of the good news could have been incorporated into the price.

Okta – Okta’s share price climbed more than 2% after Goldman Sachs launched to hedge the stock with a buy note. The Wall Street firm Goldman said the cloud and identity management company is well positioned in the digital transition.

Roblox – Shares of the video game company fell more than 2% after Benchmark launched cover for the title with a sell note. The Wall Street firm has raised concerns about the uptrend in stocks during the pandemic.

JPMorgan – The bank’s share price fell about 2.6% despite JPMorgan reporting quarterly earnings of $ 3.78 per share for the second quarter, beating the consensus estimate of 3, $ 21. Income also exceeded street expectations.

First Solar – Shares of the solar panel company fell less than 1% on Tuesday after Citi downgraded First Solar to buy neutral. The company said in a note to clients that First Solar’s actions incorporated a lot of good news for the company, including the potential for green energy spending as part of an infrastructure deal in Congress. The stock had jumped nearly 20% in the past three months.

Conagra Brands – Shares of the food company fell more than 4% despite quarterly results below quarterly results. Conagra reported earnings of 54 cents a share on revenue of $ 2.74 billion. Analysts had expected earnings of 52 cents a share on revenue of $ 2.71 billion, according to Refinitiv.

– with reporting from CNBC’s Hannah Miao, Jesse Pound, Pippa Stevens and Yun Li.