Midday movers: Tesla and Humana shares slump, IBM surges

(Updated - January 25, 2024 11:31 AM EST)

Investing.com -- Main U.S. indexes rose Thursday as investors digested a deluge of quarterly corporate earnings reports, while data showed the U.S. economy grew faster than economists had expected in the fourth quarter.

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

Tesla (NASDAQ:TSLA) stock fell 10% after CEO Elon Musk warned that the electric vehicle giant expects to see "notably lower" sales growth in 2024 versus the prior year, citing intensifying competition and stalling demand from cost-conscious buyers.

IBM (NYSE:IBM) stock rose 13% after the tech giant forecast full-year revenue growth above expectations, banking on demand for its IT software and consultancy services from businesses looking to adopt artificial intelligence.

Boeing (NYSE:BA) stock fell 6% after U.S. regulators froze increases in production of its 737 MAX, raising concerns over the planemaker’s growth plans.

Humana (NYSE:HUM) stock slumped 13% after the health insurer forecast 2024 profit sharply below expectations as it expects higher costs within its Medicare Advantage plans for older adults to persist into 2024. Weakness also weighed on shares of UnitedHealth Group (NYSE:UNH) and CVS Health (NYSE:CVS).

American Airlines (NASDAQ:AAL) stock rose 8% after the carrier beat expectations with its forecast for full-year adjusted earnings per share, expecting that it would receive a boost from solid passenger booking trends and a decline in fuel prices.

Mobileye (MBLY) stock rose 1.5% after the self-driving technology company beat expectations for quarterly adjusted profit as demand for its autonomous driving technology remained resilient in an uncertain economy.

Dow (DOW) stock rose 2% after the chemicals maker reported earnings and revenue that topped estimates in the fourth quarter. The company said it expects softness in industrial and durable goods demand to continue in the first quarter, and it was encouraged by early positive signals in areas including construction, automotive and consumer electronics.

Comcast (NASDAQ:CMCSA) stock rose 4% after reporting strong financial results for the fourth quarter, surpassing analysts' expectations. Its streaming service, Peacock, posted substantial year-over-year growth.

United Rentals (NYSE:URI) stock rose 13% after the equipment rental company reported quarterly results that beat estimates on the top and bottom line, with strong growth in rental revenue. It also issued solid guidance for 2024.

ResMed (RMD) stock surged by nearly 7% after the medical equipment company posted better-than-expected results for its second quarter, with strong gross margins.

Northrop Grumman (NYSE:NOC) shares fell 7% following the release of fourth quarter results, along with a disappointing forecast for 2024 sales.

Lam Research (NASDAQ:LRCX) climbed 4% after it reported better than expected earnings per share in the second quarter, with solid guidance.

Marsh&McLennan (MMC) declined 3.8% despite topping analysts’ estimates for EPS. Investors were disappointed by the insurance broker's revenue growth.

Additional reporting by Louis Juricic