As earnings season gets underway in earnest, stocks of particular interest to readers of TheStreet traded mixed Friday.
Shares of Wells Fargo & Co.., (WFC), one of the four major banks that kick off earnings season, rose 2.35% to $43.82.
Wells Fargo posted stronger-than-expected fourth-quarter earnings Friday, but set aside a larger portion of its reserves to compensate for rising loan risks as interest rates rise and the economy slows.
Another major bank, Bank of America Corp (BAC), saw shares rise 1.74% to $35.06 after it too posted better-than-expected earnings. Bank of America is one of the largest holdings in Warren Buffett's Berkshire Hathaway (BRK.A) (BRK.B) portfolio, as of its latest filing with the SEC.
Among other notable gainers, shares of Expedia Group Inc (EXPE) rose 1.93% to $105.04. Expedia was recently upgraded by analysts at Oppenheimer.
Shares of Etsy Inc (ETSY) rose 1.79% to $133.99. Etsy shares have seen recent gains as the niche online market platform draws more attention from analysts following a strong second half share performance in 2022.
Shares of American Airlines Group Inc (AAL) rose 0.62% to $16.93. For information on what Real Money columnists are saying about American Airlines Group Inc, please click here.
FedEx Leads Decliners
Among decliners, shares of FedEx Corporation (FDX) fell 1.69% to $188.64. FedEx posted better-than-expected results last month but continues to face concerns over potential economic slowdowns in the U.S.
Shares of Best Buy Co Inc (BBY) fell 0.72% to $85.79. To find out more about what our experts on Real Money are saying about Best Buy Co Inc, please click here.
Shares of Verizon Communications Inc. (VZ) fell 0.67% to $41.54.
Shares of eBay Inc (EBAY) fell 0.41% to $46.24.
Shares of Walgreens Boots Alliance Inc (WBA) fell 0.34% to $36.53.
Broader Markets Edge Higher
In the broader markets, the Dow Jones Industrial Average rose 6.52, or 0.02% to 34,196.49.
The S&P 500 rose 1.54, or 0.04% to 3,984.71. Losers outpaced winners 264 to 235 in the S&P 500. Within the S&P 500, financials stocks led, while communication services lagged.
The Nasdaq Composite rose 39.04, or 0.35% to 11,040.14.
