Stock Movers: Bank of America Earnings, GM Tariffs, Boeing China News, PepsiCo Downgrade

Bank of America Earnings Surge

• 🏦 Bank of America (BAC) shares are up approximately 2%, trading just shy of $38, after reporting earnings that beat estimates for net interest income and first-quarter trading revenue.
• 💡 CEO Brian Moynihan commented that consumers have maintained healthy credit quality, with further insights expected on the earnings call.
• 📈 The positive performance in Bank of America contributes to a general positivity in bank stocks this morning.

General Motors Faces Sell-off Amid Tariff Uncertainty

• 🚗 General Motors (GM) is experiencing a sell-off, down about 0.61%, trading just under $45 per share.
• ⚠️ This decline may be a reaction to yesterday's gains, which followed President Trump's signal to pause auto tariffs, allowing automakers more time to adjust to US manufacturing duties.

Boeing Stock Slides on China Trade War Developments

• ✈️ Boeing (BA) is trading down approximately 4%, just shy of $154 per share, amidst significant downside volume.
• 🇨🇳 This movement is linked to a headline indicating that China has ordered its airlines to halt Boeing jet deliveries and stop purchasing related equipment and parts from US companies.
• 📉 While Boeing's exposure to China has decreased to about 3% following the 737 Max issues, this development is still impacting the stock.

PepsiCo Downgraded by Bank of America

• 🥤 PepsiCo (PEP) is down about 1%, trading at $145 per share, after Bank of America downgraded the stock to Neutral from Buy.
• 📉 The downgrade cites concerns that Frito-Lay North America growth is likely to remain below its long-term trendline this year, with a price target set at $155.