These are the stocks posting the largest moves midday Friday.
div > div.group > p:first-child"> Wells Fargo — The beleaguered bank's stock dropped more than 2% after CFO John Shrewsberry warned of a net interest income fall that could range between 2% and 5%. Shrewsberry's warning overshadowed better-than-expected earnings.
PNC Financial — Shares of PNC Financial rose 2.6% after the bank reported first-quarter earnings that were in line with expectations, while revenue of $4.286 billion surpassed a Refinitiv estimate. However, the bank also reported a rise in expenses and provision for credit losses as a result of loan growth.
Allegheny Technologies — Allegheny Technologies dropped 7.8% after the specialty metals company issued disappointing guidance for its first-quarter earnings. Allegheny said it expects earnings of 10 to 13 cents per share. Analysts polled by FactSet expected guidance in a median of 25 cents per share. The company cited a larger negative impact from continued disruption in third party nickel powder billet supply and higher operating costs than it had originally anticipated.
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