Midday movers: Goldman Sachs, Bank of America, Wyndham Hotels & Resorts and more
Investing.com -- U.S. stocks were rising in midday trading on Tuesday after investors shook off hotter than expected retail sales data for September.
Here are some of the biggest U.S. stock movers today:
Goldman Sachs (NYSE:GS) stock fell 0.3% in volatile trade after the investment bank's profit came in better than expected in the third quarter, but was still weighed down by a writedown on its GreenSky fintech business and its investments in real estate.
Bank of America (NYSE:BAC) stock rose 2.9% after the banking giant's third quarter results beat expectations, with net interest income rising 4%, driven by higher interest rates and loan growth.
Wyndham Hotels&Resorts (NYSE:WH) stock soared 7.2% after Choice Hotels (NYSE:CHH) disclosed it made an offer to its rival for about $7.8 billion in a cash and stock deal.
Tesla (NASDAQ:TSLA) stock rose 0.8% after the EV manufacturer has been told to recall just under 55,000 Model X vehicles manufactured between 2021-2023, as the vehicle controller is likely to fail to detect low brake fluid and not display a warning light.
Lockheed Martin (NYSE:LMT) stock fell 0.1% after sales at the defense giant's aeronautics unit, the largest by size, saw a 5.2% decline in the third quarter, even as it reported higher third-quarter revenue.
Microsoft (NASDAQ:MSFT) stock rose 0.1% after the tech giant’s LinkedIn unit said it would lay off more than 600 employees across in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth.
Bank of NY Mellon (NYSE:BK) stock rose 3.9% after the lender beat estimates for third-quarter profit, as rate hikes by the Federal Reserve bolstered its income from loans.
Johnson&Johnson (NYSE:JNJ) stock dipped 0.4% after the drugmaker raised its 2023 profit forecast, helped by resilient demand for its anti-inflammatory drug Stelara and recorded a $21 billion gain from the spin off of its consumer health unit.
NetScout Systems (NASDAQ:NTCT) stock slumped 14.9% after the enterprise software firm lowered its 2024 revenue and profit forecasts.
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