Charles Schwab, Salesforce, Tesla, and More

U.S. equities were higher at midday following stronger-than-expected earnings and retail sales. The Dow, S&P 500, and Nasdaq were all higher.

Shares of Charles Schwab (SCHW) surged after the discount brokerage and financial advisory firm posted first-quarter profit and revenue that beat estimates as investor sentiment improved.

Goldman Sachs (GS) shares gained after the financial giant’s earnings took off on higher investment banking revenue.

M&T Bank (MTB) shares jumped as the regional bank reported it reduced its exposure to commercial real estate loans.

Salesforce (CRM) shares declined following a report the cloud business software provider was in advanced talks to buy data management software maker Informatica (INFA). Informatica shares dropped as well.

Shares of Tesla (TSLA) slumped amid reports the electric vehicle (EV) manufacturer will slash its workforce by more than 10% as demand for EVs slows.

Molina Healthcare (MOH) shares fell as Wells Fargo and Truist reduced their price targets on the insurer.

Oil and gold futures were down. The yield on the 10-year Treasury note gained. The U.S. dollar climbed against the euro and yen, but lost ground to the pound. Prices for most major cryptocurrencies were higher.