Midday movers: Intel falls, American Express climbs

  • Investing.com
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Midday movers: Intel falls, American Express climbs
Credit: © Reuters.

(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.

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Additional reporting by Louis Juricic

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