Midday movers: Warner Bros Discovery, Eli Lilly, Robinhood and more

Investing.com -- U.S. stocks were wobbling on Wednesday amid a slew of earnings reports, as investors await a second public appearance this week by Federal Reserve Chair Jerome Powell, who is participating in a panel discussion on Thursday.

Here are some of the biggest U.S. stock movers today:

• Warner Bros Discovery (NASDAQ:WBD) stock fell 17% after the media giant narrowed its third-quarter loss, helped by the box-office success of “Barbie”, but still saw a 12% decline in advertising at its portfolio of TV networks.

• Eli Lilly and Company (NYSE:LLY) stock rose 2% after the Food and Drug Administration approved its Tirzepatide drug for Type 2 diabetes, currently under the brand name Mounjaro, for weight loss. The weight loss version of the drug will be sold under the new brand name Zepbound.

• Robinhood (NASDAQ:HOOD) stock fell 14.9% after the online brokerage reported third-quarter revenue that fell short of estimates amid a decline in users.

• Upstart (NASDAQ:UPST) stock slumped over 26% after the AI lending platform disappointed with its quarterly results, while next quarter's revenue guidance fell short of expectations.

• Rivian (NASDAQ:RIVN) stock fell 3.3% after the EV manufacturer raised its production forecast for the full year by 2,000 vehicles to 54,000 units on the back of sustained demand for its trucks and SUVs.

• Upwork (NASDAQ:UPWK) stock surged over 11% after the freelancing platform beat expectations with its third-quarter earnings and revenues, while also offering strong guidance for the full year.

• Gilead Sciences (NASDAQ:GILD) stock fell 3.6% after the drugmaker said its third-quarter sales were little changed from a year earlier, but earnings rose mainly due to lower taxes.

• Lucid Group (NASDAQ:LCID) stock fell 8.3% after Cantor Fitzgerald downgraded the EV manufacturer to ‘neutral’ from ‘buy’ after the company reported its third-quarter results and cut its full-year production forecast.

• Take-Two (NASDAQ:TTWO) stock soared 6.9% on reports the eagerly-awaited new Grand Theft Auto game may be unveiled this week.

• Toast (NYSE:TOST) stock fell 13% after the restaurant software platform reported another quarterly loss and provided disappointing sales guidance for the upcoming quarter.