BNY Mellon, Qualcomm, Twilio: Trending tickers
The Bank of New York Mellon (BK) reported fourth quarter net profit fell nearly 50% from a year ago due to one-time charges. However, the earnings still topped analyst estimates, sending shares higher in early trading.
Qualcomm (QCOM) shares traded higher after Citi upgraded the stock to "Buy" from "Neutral," citing a recovery in the handset market.
Twilio (TWLO) also got an upgrade, with Piper Sandler lifting its rating on the shares to "Overweight" from "Neutral." The firm sees "material upside" for the stock.
Yahoo Finance's Brad Smith and Seana Smith recap some of Friday's top trending tickers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich
Video Transcript
BRAD SMITH: Let's take a look at how things are shaping up right now. Stocks mixed as earnings season kicks off. Big bank results, Delta, United Health Care, what more could you ask for? Strap in, there's much more. This standout morning was JP Morgan-- the standout this morning was, which pulled away from the pack with record-high profits.
SEANA SMITH: All right, taking a look at some of those individual names, we've got more earnings in the banking sector. Bank of New York Mellon also releasing results, a 50% drop in fourth quarter profit. Now, this coming after some one time charges, including fees, tied to the FDIC's deposit insurance fund, a similar trend to what we saw from the larger banks here this morning as well. Still though the stock rising up just about 3%. Higher assets under management and interest revenue, here's two things that the Street is encouraged about from these results.
BRAD SMITH: And Qualcomm also moving higher today on an upgrade from Citi to buy from neutral. The analysts saying he's confident in the recovery of the handset market, writing in a note to clients that inventory replenishment continues in the handset space, which should benefit both revenue and margins at Qualcomm.
SEANA SMITH: And more good news on the street, Twilio surging after an upgrade on Piper Sandler to overweight. Now, the analysts saying that now-- that they now see, quote, "material upside for the stock as the company has executed better on profitability initiatives." You're looking at gains of just about 3 and 1/2%.
