Midday movers: Warner Bros Discovery, Eli Lilly, Robinhood and more

  • Investing.com
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Midday movers: Warner Bros Discovery, Eli Lilly, Robinhood and more

Investing.com -- U.S. stocks were wobbling on Wednesday amid a slew of earnings reports, as investors await a second public appearance this week by Federal Reserve Chair Jerome Powell, who is participating in a panel discussion on Thursday.

Here are some of the biggest U.S. stock movers today:

  • Warner Bros Discovery (NASDAQ: WBD ) stock fell 17% after the media giant narrowed its third-quarter loss, helped by the box-office success of “Barbie”, but still saw a 12% decline in advertising at its portfolio of TV networks.

  • Eli Lilly and Company (NYSE: LLY ) stock rose 2% after the Food and Drug Administration approved its Tirzepatide drug for Type 2 diabetes, currently under the brand name Mounjaro, for weight loss. The weight loss version of the drug will be sold under the new brand name Zepbound.

  • Robinhood (NASDAQ: HOOD ) stock fell 14.9% after the online brokerage reported third-quarter revenue that fell short of estimates amid a decline in users.

  • Upstart (NASDAQ: UPST ) stock slumped over 26% after the AI lending platform disappointed with its quarterly results, while next quarter's revenue guidance fell short of expectations.

  • Rivian (NASDAQ: RIVN ) stock fell 3.3% after the EV manufacturer raised its production forecast for the full year by 2,000 vehicles to 54,000 units on the back of sustained demand for its trucks and SUVs.

  • Upwork (NASDAQ: UPWK ) stock surged over 11% after the freelancing platform beat expectations with its third-quarter earnings and revenues, while also offering strong guidance for the full year.

  • Gilead Sciences (NASDAQ: GILD ) stock fell 3.6% after the drugmaker said its third-quarter sales were little changed from a year earlier, but earnings rose mainly due to lower taxes.

  • Lucid Group (NASDAQ: LCID ) stock fell 8.3% after Cantor Fitzgerald downgraded the EV manufacturer to ‘neutral’ from ‘buy’ after the company reported its third-quarter results and cut its full-year production forecast.

  • Take-Two (NASDAQ: TTWO ) stock soared 6.9% on reports the eagerly-awaited new Grand Theft Auto game may be unveiled this week.

  • Toast (NYSE: TOST ) stock fell 13% after the restaurant software platform reported another quarterly loss and provided disappointing sales guidance for the upcoming quarter.

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