Check out the companies making headlines in midday trading:
Bank of America, Citigroup, J.P. Morgan Chase — Bank shares jumped along with Treasury yields as worries over a U.S. recession dissipated on the back of strong economic data. Bank of America rose 1.69%, J.P. Morgan both rose 1.9% while Citigroup gained 1.5%. The benchmark 10-year yield shot up to 1.87 from around 1.78 in the previous session. Rates rose following the release of retail sales and consumer sentiment data that topped expectations.
Lumber Liquidators — Shares of the flooring company plunged 13.1% Friday after founder and former CEO Thomas Sullivan decided to opt out of his bid to take the company private, a week after he announced the buyout plan. Sullivan had upped his ownership of Lumber by 30% or 500,000 shares on Sept. 4 through his F9 Investments, saying he was taking his former company private.
Broadcom — Broadcom stock fell more than 3% after reporting adjusted quarterly profit of $5.16 per share,…