© Reuters.
Investing.com — U.S. stocks rose on Friday, ending a strong week on a positive note following healthy results from some of the country’s leading banks and a stronger-than-expected reading on consumer sentiment for July.
Here are some of the biggest U.S. stock movers today:
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JPMorgan (NYSE:) stock rose 0.2% after the posted a 67% jump in profit for the second quarter on Friday as it earned more in interest from borrowers and benefited from the purchase of First Republic Bank.
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Wells Fargo (NYSE:) stock rose 0.1% after the lender a 57% jump in second-quarter profit as it earned more in interest payments from customers and raised its forecast for 2023 net interest income.
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BlackRock (NYSE:) stock fell 1.4% after the world’s largest asset manager only a 25% rise in its second-quarter profit, even as investors poured money into its various market funds.
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AT&T (NYSE:) stock fell 3.9% after JPMorgan downgraded the telecoms giant to ‘neutral’ from ‘overweight’, citing increased competition and the high-interest rate environment.
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Alcoa (NYSE:) stock fell 6.5% after JPMorgan downgraded its stance on the miner to ‘neutral’ from ‘overweight’, citing weaker aluminum fundamentals and mine permitting uncertainty.
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Microsoft (NASDAQ:) stock rose 1.5% after UBS upgraded its stance on the software giant to ‘buy’ from ‘neutral’, citing AI catalysts and cloud stabilization, calling the shares “too attractive” to not buy.
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Walt Disney (NYSE:) stock fell 1.8%, with the entertainment giant set to ask a Florida judge on Friday to dismiss a lawsuit by a state oversight board as part of its effort to pursue its case against Governor Ron DeSantis.
- Nokia (NYSE:) ADRs fell 9.3% after the Finnish telecom gear group lowered its full-year outlook, cutting its forecast for sales in 2023.
—Peter Nurse contributed reporting
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