TRQ - Midday Hot Stocks: Earnings move STT AA MRTN; DNOW jumps on upgrade; COVID hurts ops at TRQ
naphtalina/iStock via Getty Images State Street (STT) stepped into the spotlight as of midday Friday, gaining ground on better-than-expected results that capped a long week of earnings from the financial sector. Alcoa (AA) also released strong quarterly results, but its shares were dropping at midday despite the seemingly good news. Marten Transport (MRTN) likewise retreated following the announcement of its quarterly report, hurt by a disappointing revenue figure. In other news, NOW Inc. (DNOW) received a boost from a positive analyst comment. Turquoise Hill (TRQ) plunged as COVID restrictions significantly restricted its Mongolia operations. State Street reported a Q2 profit that beat expectations, thanks to fee revenue growth and cost-cutting. Fee revenue ticked up 1% to $2.51B, while total expenses dropped 9%. Bolstered by the news, STT climbed 2.2% in intraday action. Aluminum producer Alcoa (AA) topped expectations as well, boosted by a 60% jump in aluminum prices. The company
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Midday Hot Stocks: Earnings move STT, AA, MRTN; DNOW jumps on upgrade; COVID hurts ops at TRQ