A customer walks towards the entrance of a CVS Health Corp. store in downtown Los Angeles, California, the United States, Friday, October 27, 2017.

Christopher Lee | Bloomberg | Getty Images

Find out which companies are making the headlines in midday trading.

American steel – Bucking declines in larger market, US Steel shares rose 5.8% at noon after Credit Suisse update the stock to outperform to underperform. Analyst Curt Woodworth told customers in a note that the steel price surge clearly shows the industry is in a “super cycle.” He sees the US Steel title rebound 42% to where it closed on Monday.

CVS Health – Shares of the drugstore retailer rose 3.8% just after 11 a.m. in New York after CVS said it gained $ 2.04 a share in the first quarter, above the expected $ 1.72. Sales of CVS, which also exceeded expectations, increased in its stores as customers flocked to company sites to receive their Covid-19 vaccine. The company has raised its forecast for the year as a whole.

Microsoft, Apple, Amazon, Facebook, Alphabet – Shares of Big Tech stocks fell on Tuesday with the Nasdaq Composite falling more than 2%. Shares of Netflix fell 1.6% and Microsoft fell 2.1%. Amazon and Facebook lost around 2.6%. Apple fell 3.8% and Alphabet fell more than 3%.

SolarEdge – Shares of the solar inverter maker fell more than 14% after the company warned margins could be lower in the future, thanks to higher transportation costs. SolarEdge, however, exceeded analysts’ expectations during the period. The company earned 98 cents per share excluding items, while revenue was $ 405.5 million. Analysts polled by FactSet expected earnings of 80 cents a share and revenue of $ 395.4 million.

Under protection – Shares fell just under 3.6% despite company beating estimates first quarter. The retailer reported adjusted earnings per share of 16 cents on revenue of $ 1.26 billion. Analysts polled by Refinitiv expected the company to post earnings per share of 3 cents on $ 1.13 billion in revenue. Separately, Under Armor said it has reached an agreement with the Securities and Exchange Commission over the allegations of non-disclosure.

Kroger, Alberstons – Shares of grocery chains fell around 3.6% and 2% respectively after Goldman Sachs said the return of restaurants and rising food prices are expected to put pressure on supermarket stocks in the months to come up. Goldman downgraded Kroger to sell from neutrals and Albertsons buying neutral, saying companies risked being squeezed by weakening demand and rising costs.

Quest diagnostics – Quest Diagnostics shares gained 2% after UBS update stocks to buy from third parties, saying industry fundamentals appeared to be at their healthiest point for more than a decade, even as the revenue stream from Covid testing declined.

Budget Reviews – Shares of the car rental company fell 4% despite a better-than-expected earnings report. Avis reported a loss of 46 cents per share, lower than the expected loss of $ 2.16 per share, according to Refinitiv. Income also exceeded estimates. Avis management has commented on the chip shortage and has not provided forward-looking guidance.

I robot – iRobot shares fell 11% after reasserting the range of its earnings guidance, which is at the lower end of analyst expectations. However, the company reported EPS of 41 cents per share, well above the 9 cents per share expected on Wall Street, according to Refinitiv. Income also exceeded estimates.

Arconic – The industrial company’s share price jumped more than 16% after beating the high and low of its quarterly results. Arconic reported earnings of 46 cents a share on revenue of $ 1.68 billion. Analysts were forecasting earnings of 27 cents a share on revenue of $ 1.54 billion.

– with reports by Pippa Stevens and Tom Franck of CNBC.

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