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And More October 28, 2022 4 mins read

Stocks Making The Biggest Moves Midday: Amazon, T-Mobile and More

And More ı By Rochdi Rais

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Stock Market News

Check out the companies making headlines in midday trading.

Shares of Apple jumped 8% after the technology giant beat both top and bottom line estimates when it reported earnings results for its latest quarter.

After surpassing analysts’ estimates for the recent quarter and outlining a plan to reduce costs by $10 billion over the next three years, Intel’s stock popped 10%.

After Amazon reported quarterly revenue that did not meet Wall Street's standards on Thursday, the company's shares took a 9% dive on Friday. The retailer also forecasted lower holiday sales than what analysts had predicted.

T-Mobile's stock shot up 6% after the telecom company released their subscriber numbers. This is the biggest jump they've had since 2020, when they merged with Sprint.

DexCom's stocks shot up 16% after releasing their quarterly results which knocked the socks off of any expectations set by analysts.

Gilead Sciences – On Friday, StreetAccount reported that the pharma company’s shares rose 11% following their better-than-expected earnings and revenue report. Gilead also issued bullish guidance for future earnings and total product sales. In response to this news, Truist upgraded the stock to a buy rating.

DaVita Inc. – DaVita, a health-care company focused on kidney care and dialysis, dropped 27% Friday after reporting quarterly results that fell short of expectations due to the impact of Covid-19 and a labor shortage. The medical company also cut its 2022 outlook.

Etsy- Friday, after Amazon announced their quarterly earnings report, Etsy's stock prices fell more than 4%.

Pinterest prices soared 8% after the social media company reported more monthly users than analysts had predicted, exceeding earnings expectations.

Edwards Lifesciences – Shares of the medical technology company shed 15% Friday after reporting quarterly earnings that fell short of Wall Street’s expectations due to hospital staff shortages and the strong U.S. dollar. The company also cut its guidance for the year.

Verisign – Shares of the internet company jumped 8% Friday after its quarterly results beat analysts’ expectations, including revenues up on the year.

Charter Communications– Shares of the cable company gained 4% after broadband subscribers grew during the third quarter. Net income per share rose year-over-year. However, the company’s revenue did come in below expectations, and a key profitability metric also missed estimates, according to StreetAccount.

Chinese stocks – Chinese stocks Friday as the Hang Seng Index sold off after President Xi Jinping was given a third term as the country’s leader. JD.com shed more than 4%. Baidu slid more than 3%, while Alibaba dropped 4.7%. Pinduoduo fell about 1%.

McDonald’s – The fast-food giant saw shares rise 3% after Morgan Stanley reiterated its overweight rating on them. The firm called McDonald’s a must-own “in these times” after its earnings report on Thursday showed growing traffic to its U.S. restaurants.

Deckers – The footwear and apparel maker fell 3%, despite reporting strong quarterly earnings that led UBS to reiterate its buy rating on the shares. Deckers also reaffirmed its conservative full-year financial outlook.

Resmed — Shares dropped 5.9% after Citi downgraded shares of Resmed to neutral from buy, according to StreetAccount. The medical equipment company reported quarterly results on Thursday, posting revenue that slightly beat expectations, according to consensus estimates on StreetAccount.

LyondellBasell Industries — The stock dropped 4.6% after LyondellBasell Industries missed profit and sales expectations in its latest quarterly report, according to consensus estimates on StreetAccount. CEO Peter Vanacker said in a release that high inflation and energy costs, as well as weaker seasonal demand, will result in more challenging conditions in the fourth quarter.

Bio-Rad Laboratories – Shares of Bio-Rad Laboratories shed 7.4% after the life sciences company reported disappointing quarterly results.

Principal Financial Group – Shares of financial services company Principal Financial Group gained 7% after the company beat estimates for its quarterly results, which were reported Thursday. The company also declared its dividend.

Bloomin’ Brands – The parent company of Outback Steakhouse saw shares rise 5.4% after beating expectations on the top and bottom lines in its latest quarterly report.

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Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

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