Stocks making the biggest moves midday(1): Twitter, Johnson & Johnson and Airline stocks
$Johnson & Johnson (JNJ.US)$ — Shares of the pharmaceutical and consumer giant gained 3% after the company beat earnings expectations in its first-quarter report. Still, J&J lowered its full-year sales and earnings outlook and stopped providing Covid-19 vaccine revenue guidance due to a global supply surplus and demand uncertainty.
$Twitter (Delisted) (TWTR.US)$ — Shares of the social media giant dipped 1% on news that Apollo Global Management is reportedly considering financing a potential takeover of Twitter. To be sure, the firm is not interested in joining a private equity consortium in a buyout bid. Apollo's stock rose 2.8% following the report.
Airline stocks — Airline stocks jumped after the Transportation Security Administration said it is no longer enforcing mask mandates on planes. The news comes after a federal judge in Florida ruled that the CDC had overstepped its authority with the mandate. Shares of $Delta Apparel (DLA.US)$ , $United Airlines (UAL.US)$ and $American Airlines (AAL.US)$ rose 3.1%, 4% and 5.7%, respectively.
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