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
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