Check out the companies making headlines in midday trading. Schlumberger – Oilfield Services shares fell 2.9% after third-quarter revenue fell short of Wall Street expectations. Schlumberger reported revenue of $8.31 billion for the quarter, below the consensus estimate of $8.33 billion from analysts surveyed by LSEG, formerly known as Refinitiv. Schlumberger also reported earnings per share of 78 cents, beating analysts’ forecast by 1 cent. American Express – Shares fell 5.4% even as American Express reported a rise in profit and revenue before the close. Third-quarter earnings per share were $3.30, compared with the $2.94 per share expected by analysts surveyed by LSEG. Revenue was $15.38 billion versus expectations of $15.36 billion. However, the company also increased its provisions for credit losses to $1.23 billion, up 58% year-over-year. Merck – Merck shares rose 2.2% after UBS upgraded the biopharmaceutical stock to “buy” from “neutral,” saying investors are underestimating the company’s strong treatment pipeline. Solar Stocks – The solar sector was broadly lower on Friday, with the Invesco Solar ETF (TAN) falling 6.1%. Late Thursday, SolarEdge lowered its forecasts for third-quarter revenue, gross margin and operating income. SolarEdge fell 27.3%, and rivals Sunnova and Enphase Energy lost 5.9% and about 14.7%, respectively. Sunrun lost 6.9%. Regions Financial – Shares of Regional Bank fell 12.4% after Regions reported third-quarter earnings per share of 49 cents, less than the 58 cents per share expected by analysts surveyed by StreetAccount. Net interest also fell short of the expected $1.32 billion at $1.29 billion. Other regional banks Zions and Fifth Third fell more than 6%. KeyCorp fell 6.3%. Comerica also fell 8.5% despite better-than-expected quarterly results. Knight-Swift Transportation – Shares of the transportation company rose 11.8%. Late Thursday, Knight-Swift beat estimates on revenue and profit in its third-quarter report. The company also said it expects full-year profit of $2.10 to $2.20 per share, compared with estimates of $2.07 per share. CEO David Jackson said in a news release that the subcompact truckload market is showing relative strength. Intuitive Surgical – Shares fell 2.4% after the surgical systems operator posted a decline in sales late Thursday. Revenue came in at $1.74 billion, compared with the $1.77 billion expected by analysts surveyed by LSEG. However, adjusted earnings per share came in at $1.46, beating expectations of $1.41 per share. —CNBC’s Alex Harring, Samantha Subin, Hakyung Kim and Michelle Fox contributed reporting.
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