Midday movers: Amazon, Pfizer, Pinterest rise; AMD, Starbucks, CVS Health fall

(Updated - May 1, 2024 11:35 AM EDT)

Investing.com -- Main U.S. indexes fell Wednesday, amid fears the upcoming Federal Reserve policy-setting meeting will signal interest rates being held at elevated levels for a longer time.

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

Amazon (NASDAQ:AMZN) stock rose 1.7% after the e-commerce and tech giant’s first-quarter earnings beat estimates. However, gains were limited as its revenue forecast disappointed, as the e-commerce giant forecast increased costs on AI spending. despite the beverage giant reporting

Advanced Micro Devices (NASDAQ:AMD) stock fell over 9% after the chipmaker said it expects AI chip sales of roughly $4 billion for 2024, an increase of $500 million from its prior estimate for the year. However, this was not enough to meet Wall Street's lofty expectations.

Super Micro Computer (NASDAQ:SMCI) stock fell 17% after the chipmaker's forecast of $4 billion in AI chip sales for 2024 fell short of elevated expectations.

Starbucks (NASDAQ:SBUX) stock dropped 17% after its first quarter profit missed expectations, while its revenue weakened on worsening demand in North America and China.

Kraft Heinz (NASDAQ:KHC) stock fell 6% after the food giant missed expectations for first-quarter sales, as inflation-weary consumers pushed back on higher prices of its products.

Pfizer (NYSE:PFE) (PFE) stock rose 3.5% after the drugmaker tops first-quarter expectations, and boosts its full-year outlook.

Yum! Brands (NYSE:YUM) stock fell 4% after the restaurant group reported a surprise fall in quarterly global same-store sales, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers.

Estee Lauder (NYSE:EL) (EL) stock fell 11% after the beauty products company as its earnings and revenue topped consensus expectations, but guidance fell short of consensus estimates.

Marriott International (NASDAQ:MAR) stock fell 1% despite the hotel operator raising its forecast for annual adjusted profit on Wednesday, noting that domestic U.S. travel is normalizing after the post-COVID surge.

Pinterest (NYSE:PINS) stock surged 21% after the social media firm forecast second-quarter revenue above Wall Street estimates.

CVS Health (NYSE:CVS) stock slumped 18% after the pharmacy chain reported a decline in first-quarter profits and slashed its full-year earnings outlook.

Block (SQ) fell 7.75% after an NBC report said federal prosecutors are examining financial transactions over alleged compliance issues at Square and Cash App.

Johnson Controls (NYSE:JCI) fell 7% after it issued guidance for its third quarter that missed expectations, raising questions about how achievable its annual targets are.

Garmin Ltd . (GRMN) rose 12% after it reported first quarter EPS and revenue that easily beat Wall Street estimates. Analysts now see upside to its full year forecast.

Global Payments (GPN) fell 8.8% despite reporting first quarter results and guidance that were largely in-line with consensus, although margins were weaker than expected.

CDW (NASDAQ:CDW) declined 9% after it published first quarter results that missed analysts' expectations on the top and bottom line.

DuPont (NYSE:DD) rose 8% and hit a 52-week high after its results topped consensus in the first quarter. The chemicals company also raised guidance.


Additional reporting by Louis Juricic

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.3% 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.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201)

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: