Midday movers: American Express, Tesla, Intel and more
Liz Moyer
Investing.com -- Tech underpinned another move higher for stocks on Friday as investor fears about a recession faded ahead of the Federal Reserve policy meeting next week. Here are the midday movers for Jan. 27.
- American Express Company (NYSE: AXP) shares rose 11% after the card company guided full-year 2023 sales growth of 15% to 17% and earnings per share of $11 to $11.40, which is above analyst expectations.
- Tesla Inc (NASDAQ: TSLA) stock rose another 10% on Friday, extending gains from the previous day after positive comments from CEO Elon Musk. The company beat expectations for the fourth quarter, and Musk said January started out with their strongest orders to date after price cuts to some of its models.
Intel Corporation (NASDAQ: INTC) shares fell 7.6% after a disappointing earnings report and a gloomy outlook as customers rein in spending because of uncertain economic conditions ahead.
- Hasbro Inc (NASDAQ: HAS) stock fell 6.9% after the toy maker released preliminary results for the fourth quarter that missed expectations. The company is cutting 1,000 jobs to focus on reducing costs.
Chevron Corp (NYSE: CVX) shares fell 4.9% after the oil major's earnings per share of $4.09 for the recent quarter failed to meet analyst expectations for $4.42 a share. The company is planning to buy back $75 billion of its shares.