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Midday movers: Microsoft, JB Hunt Transport, Moderna and more

By Liz Moyer

Investing.com -- Stocks fell on Wednesday as investors digested more data that showed a slowing economy. Here are the midday movers for Jan. 18.

  • Microsoft Corporation (NASDAQ:MSFT) shares fell 1% after the software giant said it was cutting 10,000 jobs through March and taking a $1.2 billion charge in an effort to rein in costs as revenue growth slows.
  • JB Hunt Transport Services Inc (NASDAQ:JBHT) shares rose 4%. The logistics company missed expectations for earnings and revenue but executives said they expect improvement in freight in the second and third quarters.

  • Moderna Inc (NASDAQ:MRNA) shares rose 3% after the COVID-19 vaccine maker said it had success in a test of an experimental vaccine for an infectious respiratory virus called RSV. The vaccine, based on its mRNA technology, was 83.7% successful at preventing less severe illness in adults 60 and older.

  • PNC Financial Services Group Inc (NYSE:PNC) shares fell 5% after the regional bank missed expectations for profit and the provision for credit losses rose.

  • Charles Schwab Corp (NYSE:SCHW) stock fell 3.5% after the brokerage and wealth management firm fell short of expectations for earnings. But it added four million accounts in 2022. Total client assets at year end were $7.05 trillion.

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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.