Midday Movers: Peloton Interactive, Etsy, Moderna and More

By Liz Moyer

Investing.com -- Stocks were falling on Thursday as investors absorbed the Federal Reserve's latest statement on interest rates and indicated it had more work to do to tame inflation. Here are the midday movers for Nov. 3.:

• Peloton Interactive Inc (NASDAQ:PTON) shares rose 4%, erasing earlier losses, after the connected fitness company forecast a weaker-than-expected holiday quarter. Its CEO did say the layoffs were done and that the company had begun to turn around.

• Etsy Inc (NASDAQ:ETSY) stock rose 14% after the craft marketplace beat on revenue expectations and said gross merchandise value should grow in the fourth quarter to $3.6 billion to $4 billion from the $3 billion reported in the third quarter.

• Moderna Inc (NASDAQ:MRNA) stock fell 1.8% after the Covid-19 vaccine maker said sales next year are forecast to be lower than expectations. It forecasts Covid vaccine sales in 2023 at a baseline of $4.5 billion to $5.5 billion. Analysts are forecasting $9.5 billion.

• Roku Inc (NASDAQ:ROKU) shares slid 2.9% after the streaming device platform said holiday quarter ad sales could fall on macroeconomic concerns as companies pull back their marketing spending.

• Royal Caribbean Cruises Ltd (NYSE:RCL) shares rose 5.7% after the cruise operator posted a quarterly profit, its first since the start of the pandemic. Despite beating expectations, it disappointed on its guidance for the current quarter.