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Midday Movers: Amazon.com, Apple, Intel and More

By Liz Moyer

Investing.com -- Stocks were surging Friday after a better than expected report on inflation stoked hopes the Federal Reserve would soon ease off its aggressive rate hikes. Here are the midday movers for Oct. 28:

  • Amazon.com Inc (NASDAQ:AMZN) shares fell 9.8% after the e-commerce giant warned of weaker than expected revenue in the holiday quarter, as a strong dollar will dent results.

  • Apple Inc (NASDAQ:AAPL) shares rose 8% after it beat expectations on revenue and profit, posting a record bottom line for the quarter, though iPhone sales were slightly weaker than expected.

  • Intel Corporation (NASDAQ:INTC) shares rose 10% after the chip maker beat estimates and announced a big cost-cutting effort designed to carve out $10 billion of expenses through 2025. It also cut its full-year revenue forecast.

  • T-Mobile US Inc (NASDAQ:TMUS) stock rose 6.9% after it reported higher than expected subscription adds during the quarter. It beat expectations for profit and revenue and raised its guidance.

  • Exxon Mobil Corp (NYSE:XOM) shares rose 2.4% after the oil major reported record quarterly profit near $20 billion, beating forecasts, as record refining volumes helped offset lower oil prices.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.