By Liz Moyer
Investing.com -- Stocks paused while investors digested the minutes of the Federal Reserve's meeting in September. Here are the market movers for Oct.12:
PepsiCo Inc (NASDAQ: PEP ) stock rose 3.9% after the beverage and snack maker raised its outlook for the year and beat expectations on revenue and profit, saying it was successfully able to raise prices.
Uber Technologies Inc (NYSE: UBER ) shares rebounded slightly, rising 4% after falling more than 10% on Tuesday, when the Labor department proposed rules that could reclassify gig workers as employees. LYFT Inc (NASDAQ: LYFT ) shares, which also fell on Tuesday, were up 7% today.
Moderna Inc (NASDAQ: MRNA ) shares rose 8% after the Food and Drug Administration gave the go-ahead for Covid-19 booster shots in children as young as 5. Moderna is also working with Merck (NS: PROR ) on a cancer vaccine. Shares of rival Covid vaccine maker Pfizer Inc (NYSE: PFE ) were up 0.8%.
- Koninklijke Philips (NYSE: PHG ) (AS: PHG ) shares fell 12% after the Dutch health tech company said supply chain issues were weighing on sales. It wrote down $1.3 billion of the value of its sleep apnea business.
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