At midday, a number of companies stirred headlines. Cintas saw a 4.8% dip as it announced its fiscal first-quarter earnings at $3.70 per share on $2.34 billion in revenue – surpassing analysts' expectations of $3.67 in earnings and matching revenue forecasts, as reported by StreetAccount. Despite the company boosting its full-year outlook, the lower end of EPS and revenue predictions fell short of analysts' predictions. Following HSBC initiating coverage of the stock with a "buy" rating, shares of Pinterest rose nearly 1%. United Natural Foods, however, was not as fortunate, as its shares plummeted 24% after forecasting earnings per share and adjusted EBITDA for the next year below analysts' estimates due to profitability headwinds. Prospects seemed brighter for electric vehicle maker Fisker, which surged 15% after Bank of America initiated coverage of shares at a "buy" rating. Banking stocks, however, were not as fortunate, with Wells Fargo, JPMorgan, Goldman Sachs, Morgan Stanley, and JPMorgan all experiencing losses as JPMorgan Chase CEO Jamie Dimon suggested that the Federal Reserve could lift rates even further. SiriusXM saw shares slip 4% after Liberty Media proposed combining the two corporate structures into one entity. On the other hand, sports betting stock DraftKings rose nearly 3% when JPMorgan upgraded it to "overweight" from "neutral". Barclays shares rose 2.7% after Morgan Stanley upgraded the stock to "overweight" from "equal weight", citing an improved revenue outlook and room for U.S. credit card growth. Lastly, Amazon saw a 2.7% fall after the Federal Trade Commission and 17 state attorneys general filed antitrust charges, claiming the company uses its "monopoly power" to drive up prices and prevent competition.
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