Midday movers: Southwest Airlines, Johnson & Johnson, Goldman Sachs and more

Investing.com

April 18, 2023 at 9:45 a.m.·1 min read

By Liz Moyer

Investing.com -- Stocks are weaker on Tuesday as investors tried to take in mixed messages on corporate earnings. Here are the market movers for April 18.

Southwest Airlines Company (NYSE:LUV) shares fell 1.4% after the carrier suspended flights for a brief period in the morning, citing technical issues. Even though flights resumed, more than 44% of its flights were delayed according to tracking site FlightAware. Johnson&Johnson (NYSE:JNJ) shares were down 2.7% after the pharmaceutical giant beat expectations and raised its fiscal year guidance. It did take a $6.9 billion litigation expense in the period related to its proposed settlement on talc claims. Goldman Sachs Group Inc (NYSE:GS) shares fell 1.1% after the investment bank beat expectations for profit but reported slightly weaker revenue than expected mainly because of trading. It sold $470 million of loans from its Marcus consumer division. Bank of America Corp (NYSE:BAC) shares rose 0.3% after the lending giant beat expectations in the quarter, benefitting from rising interest rates.

Lockheed Martin Corporation (NYSE:LMT) shares rose 2.7% after the aerospace company reported results that beat expectations and reaffirmed its guidance for the full year.

Netflix Inc (NASDAQ:NFLX) shares were edging up 0.2% in the afternoon ahead of the release of its first-quarter earnings. Investors are waiting to hear details about subscription trends in the quarter and the company's efforts to combat password sharing.

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