Midday movers: American Express, Regions Financial, SolarEdge and more
Investing.com -- U.S. stocks were falling on Friday, weighed by rising bond yields and concerns surrounding the escalating conflict in the Middle East.
Here are some of the biggest U.S. stock movers today:
American Express (NYSE:AXP) stock fell 3.8% after the credit card giant reported third-quarter profit that beat expectations, helped by resilient spending from its wealthy customers who shrugged off concerns about an economic downturn.
Comerica (NYSE:CMA) stock fell 7% after the lender reported a drop in profit in the third quarter from last year, but still beat Wall Street estimates.
Regions Financial (NYSE:RF) stock fell 12% after the regional lender said it expects its fourth-quarter net interest income to decline about 5% compared with the preceding three months, as banks pay more to retain deposits.
SolarEdge Technologies (NASDAQ:SEDG) stock fell 28% after the renewable energy company cut its fourth-quarter revenue guidance, saying installation rates slowed recently in Europe. Rivals Enphase Energy (NASDAQ:ENPH), SunPower (NASDAQ:SPWR), SunRun (NASDAQ:RUN) and First Solar (NASDAQ:FSLR) all fell heavily as well.
Knight-Swift Transportation (NYSE:KNX) stock rose over 9.7% after the trucking giant beat estimates in the third quarter on both the top and bottom lines.
Coinbase (NASDAQ:COIN) stock rose 2.5% after the cryptocurrency exchange platform’s chief legal officer, Paul Grewal, expressed confidence that a U.S. bitcoin exchange-traded fund will be approved by the U.S. Securities and Exchange Commission.
Hewlett Packard Enterprise (NYSE:HPE) stock fell 7% after the computing services provider delivered a disappointing outlook for cash flow and profit.
VinFast (NASDAQ:VFS) stock fell 6.3% after the Vietnamese electric vehicle maker said it has entered into a share subscription of up to $1 billion with U.S.-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets.
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