UnitedHealth, Bank of America, Caterpillar and more

A ceremony to mark the start of production of new CAT 777A dump trucks at the Caterpillar Tosno facility.

Sergei Konkov | TASS | Getty Images

Here are the stocks that are making notable moves on Thursday.

UnitedHealth – The health insurer’s shares rose more than 4% according to an earnings report. UnitedHealth posted earnings per share of $ 4.52 for the third quarter, 11 cents above analysts’ estimate, according to Refinitiv. Revenue also exceeded expectations as the company raised its profit guidance for the full year.

Bank of America – The stocks of the second largest US bank by asset value rose 4.5% after its third-quarter earnings and revenue surpassed analysts’ expectations. Bank of America benefited from record high advisory and asset management fees.

Caterpillar – The manufacturing giant’s shares rose 2.9% after Cowen took out coverage of Caterpillar with an outperform rating. The Wall Street firm said it saw a “megacycle” underway for the device maker.

UPS – The shipping company’s shares rose 4% after Stifel was upgraded to buy from hold. The Wall Street firm said in its stock appreciation that it sees “strong fundamentals and a healthy operating environment”.

Morgan Stanley – The investment bank’s stocks rose 2.5% after Morgan Stanley reported a stronger-than-expected third quarter. The company earned $ 1.98 per share on revenue of $ 14.75 billion, propelled by strong quarters for investment banking and asset management departments. Analysts polled by Refinitiv expected earnings per share of $ 1.68 on sales of $ 14 billion.

Walgreens Boots Alliance – Walgreens shares rose more than 7% after the drugstore chain’s quarterly earnings beat expectations. The company reported adjusted earnings of $ 1.17 per share, 15 cents above estimates from more Covid-19 vaccinations than forecast. Walgreens also announced that it will become the majority owner of VillageMD with a $ 5.2 billion investment.

Avis Budget Group – Car rental stocks fell 1.8% after Morgan Stanley downgraded the stock from equal weight to underweight. The company said Avis is at the height of cyclical earnings and represents a negative risk-return tradeoff.

US Bancorp – The bank’s stock slipped more than 2% despite US Bancorp’s third-quarter earnings beating expectations for sales and earnings. The company reported earnings per share of $ 1.30 on sales of $ 5.89 billion. Analysts polled by Refinitiv expected earnings per share of $ 1.16 on sales of $ 5.77 billion.

Taiwan Semiconductor Manufacturing – The US-traded stocks of this major semiconductor company rose more than 2% after Taiwan Semi third-quarter results beat expectations. The company’s forecast for the fourth quarter also beat estimates, according to StreetAccount.

– CNBC’s Yun Li, Hannah Miao and Maggie Fitzgerald contributed to this report.

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