Midday movers: Intel falls, American Express climbs
(Updated - January 26, 2024 11:42 AM EST)
Investing.com --Main U.S. indexes were mixed Friday as investors digested more quarterly earnings reports and data that showed moderate inflation.
Here are some of the biggest U.S. stock movers today:
Intel (NASDAQ:INTC) stock fell 11% after the chipmaker offered up a bleak first-quarter revenue outlook as it struggles to navigate uncertain demand in traditional computing markets and attempts to play catch up in the AI race.
Visa (NYSE:V) stock fell 1.6% after the credit card giant provided a tepid forecast for current-quarter revenue growth, eclipsing a market-beating earnings report.
American Express (NYSE:AXP) stock rose 7.2% after the credit card giant beat full-year profit expectations, even as it raised its loan loss provisions, bracing for a jump in potential loan defaults.
Tesla (NASDAQ:TSLA) stock rose 1.1%, bouncing after the previous session’s sharp drop, yet the electric vehicle maker is recalling nearly 200,000 Model S, X, and Y vehicles in the U.S. due to a software malfunction that could obstruct drivers' visibility while reversing.
Colgate-Palmolive (NYSE:CL) stock rose 2.3% after the consumer goods company’s fourth-quarter profit beat expectations. “"We leveraged our strong margin performance to invest behind building our brands,” said CEO Noel Wallace.
KLA Corporation (KLAC) stock fell 6% after the chipmaking tools maker posted light revenue and earning per share guidance for its fiscal third quarter.
Western Digital (NASDAQ:WDC) stock fell 3.4% after the data-storage products maker posted a wider-than-expected quarterly adjusted loss, due to the impact of structural changes the company implemented in its flash and HDD businesses.
T-Mobile US (NASDAQ:TMUS) stock rose 1% after the wireless carrier missed its profit target for the fourth quarter, even as it forecast monthly bill-paying phone subscriber growth for the year above estimates, banking on its wide 5G coverage and promotional offers to draw in consumers.
Coinbase Global Inc. (NASDAQ:COIN) stock rose 3% after its rating was raised to ‘outperform’ from ‘perform’ at Oppenheimer on improving risk-reward. It also benefited from gains in Bitcoin.
AppFolio (NASDAQ:APPF) stock rose 27% after the application software company reported fourth quarter results that easily beat consensus estimates.
Olin Corp . (NYSE:OLN) stock rose 7% after results from the chemical products company beat expectations despite the challenging economic environment.
Spirit Airlines (NYSE:SAVE) stock tumbled 12% after JetBlue Airways (NASDAQ:JBLU) said in a filing their merger agreement "may be terminable."
Danaher (NYSE:DHR) stock rose 5.5% and Thermo Fisher Scientific (NYSE:TMO) rose 3.1% as laboratory tool stocks climbed following strong results from peer Sartorius AG.
Upgrade your investing with our groundbreaking, AI-powered InvestingPro+ stock picks. Use coupon INVESTPROPLUS24 to get a limited time discount on our Pro+ subscription plans. Click here to find out more, and don't forget to use the discount code when checking out!
Additional reporting by Louis Juricic
Related Articles
Midday movers: Intel falls, American Express climbs
Microsoft Teams down for thousands of users - Downdetector
Uber files legal appeal against Paris mayor's transport restrictions
