The stocks that move the most at midday: Norwegian Cruise Line, Allstate, Roblox and more

Norwegian cruise line – Shares sank more than 6% after the cruise ship operator reported in a filing with the Security and Exchange Commission that it will report a net loss for the fourth quarter and full year of 2022, as well as the first quarter of 2023.

Charles Schwab – The banking stock lost more than 6% after Bank of America double-downgraded the stock to an underperforming rating, saying customers will continue to shift cash to alternatives such as money market funds.

Vornado Real Estate Trust — Shares of the real estate investment trust lost 3.3% after cut its quarterly dividend at 37.5 cents per 53 cent share. Vornado Realty, which has commercial properties in cities including New York and San Francisco, cited the current state of the economy and capital markets, as well as Vornado’s projected taxable income for 2023, primarily due to… higher interest exposure.

Roblox – Roblox shares fell 6% following a downgrade to an underweight rating by analysts at Morgan Stanley. The bank said the rise in video game stock was limited following a strong December metrics report.

Philip Morris — Parent company Marlboro gained 2.4% after Jefferies called the stock “recession-resistant.”

ServiceNow – Stocks gained nearly 3% after Bank of America named the software stock a top pick. The company rated its “best-in-class growth.”

You’re here — Shares of the electric vehicle maker slid more than 1% by midday. Piper Sandler reiterated her outperforming rating on the stock, saying investors should buy stocks “proactively.” A day earlier, CEO Elon Musk the trial for fraud has begun on tweets he wrote in 2018 about the possibility of taking Tesla private, which caused the stock to rally.

Alcoa — Shares of the aluminum company fell 4.6% on Thursday after the company announced its fourth-quarter results. Alcoa’s adjusted loss in the fourth quarter was 70 cents per share, narrower than the expected loss of 81 cents, according to StreetAccount. However, the company’s adjusted EBITDA – a measure of profit that includes fewer expenses than net profit – missed the estimates. Alcoa said it expects total alumina shipments to decline year-over-year in 2023.

Discover financial services — Online banking fell nearly 2% after increasing provisions for credit losses and projecting higher net charge rates this year, a sign that customers are falling behind. Discover exceeded earnings per share and revenue expectations for the quarter.

CureVac – Shares rose more than 9% after the biopharmaceutical company was upgraded by UBS to buy from neutral. The Wall Street firm said Phase 1 results for a flu treatment have seen a “major inflection point”.

Ford — The automaker’s stock fell 1.9% after its price target was cut by Evercore ISI, which said the automaker could struggle in a recession.

Allstate – The stock fell 7%, a day after the insurance company announced preliminary fourth-quarter results that include a estimated adjusted net loss between 335 and 385 million dollars.

Northern Trust — Shares of the financial institution fell 10% after the company reported net earnings per diluted common share of 71 cents in the fourth quarterfrom $1.91 in the fourth quarter of 2021. Revenue from its trust and investment services was $1.04 billion, lower than the $1.05 billion expected by StreetAccount.

Comedy – Shares jumped about 6% after the financial services company beat profit expectations in its latest quarterly report. Comerica reported earnings of $2.58 per share, higher than the $2.55 per share earnings expected by analysts polled by Refinitiv.

– CNBC’s Samantha Subin, Jesse Pound, Alex Harring, Sarah Min and Michael Bloom contributed reporting.