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Norwegian Cruise Line, Allstate, Roblox and more

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A Norwegian Gateway cruise ship departs from the port of Manhattan during sunset in New York City, United States, on April 10, 2022.

Tayfun Coskun | Anadolu Agency | Getty Images

Check out the companies that make the biggest moves at noon:

Norwegian Cruise Line – Shares plunged more than 6% after the cruise ship operator said in a filing with the Securities and Exchange Commission that it will report a net loss for the fourth quarter and full year of 2022, as well as the first quarter of 2023.

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Charles Schwab — The bank’s stock lost more than 6% after Bank of America twice downgraded the stock to an underperforming rating, saying customers will continue to shift money into alternatives such as money market funds.

Vornado Realty Trust – Shares in the real estate investment fund fell 3.3% after cutting its quarterly dividend from 53 cents to 37.5 cents a share. Vornado Realty, which owns commercial properties in cities including New York and San Francisco, cited the current state of the economy and capital markets, as well as Vornado’s projected taxable income for 2023, primarily due to higher interest exposure.

roblox — Roblox stock fell 6% after a downgrade to an underweight rating by analysts at Morgan Stanley. The bank said appreciation in video game stocks is limited after a strong December metrics report.

Philip Morris — Marlboro’s parent gained 2.4% after Jefferies called the stock “recession-resistant.”

service now — Stocks gained nearly 3% after Bank of America named software stocks as a top pick. The company noted its “best-in-class growth”.

tesla — Shares of the electric vehicle maker were down more than 1% in midday trading. Piper Sandler reiterated its outperforming rating for the stock, saying investors should “proactively” buy stocks. A day earlier, CEO Elon Musk’s fraud trial began with tweets he wrote in 2018 about considering Tesla delisting, which sent shares soaring.

Alcoa — Shares of the aluminum company fell 4.6% on Thursday after the company announced its fourth-quarter results. Alcoa’s fourth-quarter adjusted loss was 70 cents a share, lower than an expected loss of 81 cents, according to StreetAccount. However, the company’s adjusted EBITDA – an earnings metric that includes less expenses than net income – missed the estimates. Alcoa said it expects total alumina shipments to decline year-on-year in 2023.

Discover Financial Services — Online banking fell nearly 2% after it increased provisions for credit losses and projected higher net collection rates this year, a sign that customers are falling behind. Discover beat expectations for earnings per share and revenue for the quarter.

CureVac — Shares rose more than 9% after the biopharmaceutical company was upgraded by UBS to buy from neutral. The Wall Street firm said Phase 1 results of an influenza treatment had a “big tipping point”.

ford — Shares of the automaker fell 1.9% after their price target was cut by Evercore ISI, which said the automaker could struggle if there is a recession.

Allstate — Shares fell 7% a day after the insurer announced preliminary fourth-quarter results, which include an estimated adjusted net loss of between $335 million and $385 million.

Northern Trust — Shares of the financial institution fell 10% after the company reported net earnings per diluted common share of 71 cents in the fourth quarter, compared with $1.91 in the fourth quarter of 2021. investment reached US$1.04 billion, less than the US$1.05 billion expected by StreetAccount.

comic — Shares jumped about 6% after the financial services company beat profit expectations in its latest quarterly report. Comerica reported earnings of $2.58 per share, higher than the $2.55 per share expected by analysts polled by Refinitiv.

— CNBC’s Samantha Subin, Jesse Pound, Alex Harring, Sarah Min and Michael Bloom contributed reporting.

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