Midday movers: Procter & Gamble, Discover Financial, Allstate and more

  • Investing.com
  • Stock Market News
Midday movers: Procter & Gamble, Discover Financial, Allstate and more
Credit: © Reuters.

By Liz Moyer

Investing.com -- Stocks were falling on Thursday on fresh fears of a recession as the U.S. reached its federal borrowing limit. Here are the midday movers for Jan. 19.

  • Procter & Gamble Company (NYSE: PG ) stock fell 1.6% after the consumer product giant reported a drop in revenue and profit from a year earlier, though in line with expectations. It sees higher sales growth this year than previously forecast as it continues to raise prices.
  • Discover Financial Services (NYSE: DFS ) stock fell 0.8% after the credit card company raised its provision for loan losses and projected higher net charge-offs, an indication consumers will eventually have trouble keeping up with their payments.

  • Allstate Corp (NYSE: ALL ) stock fell 7% after the property and casualty insurer released preliminary results that foresee an adjusted net loss of $335 million to $385M because of claims related to severe winter weather.

  • Norwegian Cruise Line Holdings Ltd (NYSE: NCLH ) shares fell 5.7% after it said it would record a loss for the most recent quarter and for 2022, and it foresees revenue of approximately $4.7 billion to $5.0B for the year ended Dec. 31, 2022.

  • Northern Trust Corporation (NASDAQ: NTRS ) shares fell 7% after it reported weaker-than-expected results , including earnings per share of 71 cents, which was below consensus estimates of $1.81 a share. 

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles