Home Investing.com: Stock Market News Midday movers: Pfizer, Pinterest, JetBlue Airways and more By Investing.com

Midday movers: Pfizer, Pinterest, JetBlue Airways and more By Investing.com

by Hataf Finance
3 minutes read

© Reuters

Investing.com — U.S. stocks are wobbling on Tuesday, ahead of the start of the latest two-day policy meeting of the Federal Reserve and as investors look toward Apple (NASDAQ:)’s earnings and the October jobs report.

Here are some of the biggest U.S. stock movers today:

  • Pfizer (NYSE:) stock fell 1.4% after the drugmaker reported its first quarterly loss since 2019, as it recorded charges largely related to its COVID products, co-developed with BioNTech (NASDAQ:).

  • Pinterest (NYSE:) stock soared 17.1% after the image sharing platform reported third quarter results that topped expectations as efforts to improve monetization of its international users on its platform bolstered performance.

  • JetBlue (NASDAQ:) stock fell 13.6% after the low-cost airline posted a wider-than-expected loss in the third quarter and offered disappointing full-year guidance.
  • Tesla (NASDAQ:) stock rose 0.1% after the EV manufacturer’s key supplier Panasonic (OTC:) said it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle sales.

  • Marathon Petroleum (NYSE:) stock rose 0.8% after the refiner beat estimates for third-quarter profit, benefiting from strong demand for fuel and refined products amid tight supplies.

  • Caterpillar (NYSE:) stock fell 5.8% after the heavy equipment manufacturer reported a decline in its order backlog, indicating customer demand may be waning. This has overshadowed a rise in third-quarter profit.

  • VF Corp (NYSE:) stock dropped 12.7% after the apparel company withdrew its full-year revenue and profit forecasts, with demand for its higher-priced apparel and footwear easing.

  • Arista Networks (NYSE:) stock gained 12.5% after the cloud networking solutions developer reported better than expected results in the latest quarter, signaling that demand for cloud and artificial-intelligence offerings remains strong.

  • Anheuser Busch Inbev (EBR:) (NYSE:) ADRs rose 4.7% after the world’s largest brewer announced a $1 billion share buyback after beating third-quarter expectations, although the Bud Light boycott hit U.S. revenues.

  • BP (NYSE:) ADRs fell 4.8% after the energy giant missed expectations with its third-quarter earnings as strong oil trading and refining margins were offset by weak gas results.

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