{"id":31061,"date":"2023-10-31T17:30:43","date_gmt":"2023-10-31T17:30:43","guid":{"rendered":"https:\/\/microloannexus.com\/news\/stocks-making-the-biggest-moves-midday-pinterest-caterpillar-jetblue-chegg-and-more\/"},"modified":"2023-10-31T17:30:45","modified_gmt":"2023-10-31T17:30:45","slug":"stocks-making-the-biggest-moves-midday-pinterest-caterpillar-jetblue-chegg-and-more","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=31061","title":{"rendered":"Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more"},"content":{"rendered":"<div>\n<div data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\">\n<p><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"xyz-data\">Check out the companies making headlines in midday trading. Pinterest \u2014 Shares of the image-sharing social media platform soared 18% Tuesday, a day after the firm&#8217;s third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that had initially paused spending have already returned. Anheuser-Busch \u2014 The beer maker climbed 4.5% after reporting earnings of 86 cents per share in the third quarter, beating the consensus forecast of 83 cents per share from analysts polled by LSEG, formerly known as Refinitiv. Revenue came in at $15.57 billion, below the $15.73 billion anticipated. Anheuser-Busch also reaffirmed guidance. Caterpillar \u2014 The equipment manufacturer slipped 5% as investors worried fourth-quarter revenue could underwhelm Wall Street. Caterpillar said in its earnings presentation that revenue in the fourth quarter would be just &#8220;slightly&#8221; above the same quarter a year prior. JetBlue \u2014 Shares of the airline plunged 11% to a nearly 12-year low after Jet Blue posted third-quarter results that came in below analysts&#8217; expectations. The company also forecast a loss for the fourth quarter and full year. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue, while analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. JetBlue&#8217;s trial to defend its acquisition of budget carrier Spirit Airlines , whose stock tumbled 14.1%,\u00a0also began Tuesday . Arista Networks \u2014 Shares of the cloud networking solutions company rallied more than 12% following better-than-expected quarterly earnings.\u00a0On Monday, Arista reported adjusted earnings of $1.83 per share on $1.51 billion in revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts had forecast, according to FactSet. Wolfspeed \u2014 The semiconductor stock surged 20% after the company posted a narrower-than-expected loss for the fiscal first quarter. On Monday, Wolfspeed said it lost 53 cents per share, excluding items. That compares to analysts&#8217; forecast for a 67 cent loss per share, according to LSEG. Revenue missed expectations, coming in at $197 million against a $208 million expectation. Chegg \u2014 Shares of the educational technology stock tumbled 15% Tuesday despite beating expectations for the third quarter and offering strong current-quarter guidance a day earlier. Chegg saw 18 cents earned per share, excluding items, on $158 million in revenue, while analysts polled by LSEG anticipated 17 cents and $152 million, respectively. VF Corporation \u2014 The apparel and footwear stock dropped 13% a day after VF Corp. withdrew its previously shared guidance for full-year revenue and profit. The company also said the Vans brand would struggle in the near future due to a tougher wholesale market in the U.S. BP \u2014 The U.S.-traded shares of the British oil giant fell more than 4% after BP&#8217;s third-quarter report showed a key profit metric falling more than 50% year over year. BP reported underlying replacement cost profit of about $3.3 billion, down from nearly $8.2 billion a year ago. Chewy \u2014 Shares of the pet food seller added 4% during midday trading following an upgrade to overweight from Morgan Stanley. Despite a weaker overall outlook for the pet industry, catalysts for the stock include growing market share, better-than-expected revenue growth, ongoing margin expansion and a reasonable valuation, the firm said. ON Semiconductor \u2014 Shares slid 2.7% after Baird downgraded the stock to neutral from outperform, citing pricing pressures. On Monday, the stock plummeted 21.8% following the company&#8217;s disappointing guidance for the remainder of the year. SoFi \u2014 The digital finance stock advanced nearly 6% on the back of a Morgan Stanley upgrade to equal weight from underweight. The firm said SoFi&#8217;s risks are more than priced in to the stock already. On Monday, SoFi delivered a quarterly report that exceeded analysts&#8217; expectations and offered strong guidance. Roku \u2014 Shares climbed 4% after MoffettNathanson upgraded shares to neutral from sell and said the worst may be in the past for the streaming company. Celsius Holdings \u2014 Shares of the beverage maker slipped more than 5% after Morgan Stanley initiated coverage of the stock with an equal weight rating. Morgan Stanley said that while the firm remains optimistic in the long-term growth story for Celsius, shares will have difficulty delivering the same robust growth seen over the past 12 months. Asbury Automotive \u2014 The auto stock traded 3% higher on the heels of an upgrade by JPMorgan to overweight from neutral. JPMorgan said investors should buy the dip in the stock after its less-than-stellar performance this year. \u2014 CNBC&#8217;s Pia Singh, Yun Li, Hakyung Kim, Lisa Kailai Han, Brian Evans and Jesse Pound contributed reporting.<\/span><\/span><\/span><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/10\/31\/stocks-making-the-biggest-moves-midday-pins-cat-jblu-chgg-and-more.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out the companies making headlines in midday trading. Pinterest \u2014 Shares of the image-sharing social media platform soared 18% Tuesday, a day after the firm&#8217;s third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that<\/p>\n","protected":false},"author":1,"featured_media":31062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-31061","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Check out the companies making headlines in midday trading. 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