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Midday Movers: DuPont de Nemours, Estee Lauder, Paramount Global and More

By Liz Moyer

Investing.com -- Stocks were lower ahead of the Federal Reserve's interest rate decision this afternoon. Here are the midday movers for Nov. 2:

  • Dupont de Nemours Inc (NYSE:DD) shares rose 4.5% after the chemicals giant called off its $5.2 billion acquisition of specialty materials company Rogers (NYSE:ROG), citing the inability to obtain all the required regulatory approvals. Rogers shares fell 44%.

  • Estee Lauder Companies Inc (NYSE:EL) shares fell 9% after the cosmetics maker cut its profit outlook, citing the strength of the dollar, supply chain issues, and Covid-related disruptions in China.

  • Paramount Global (NASDAQ:PARAA) shares tumbled 10% after it missed estimates on earnings for the third quarter as advertising revenue fell 3% in its television business. Streaming subscribers reached 46 million.

  • Chegg Inc (NYSE:CHGG) shares rose 24% after the online educator said third quarter profit beat expectations and it raised is outlook. It had 4.8 million subscribers, up 9% from the same time last year.

  • Dine Brands Global Inc (NYSE:DIN) shares rose 1.5% after the parent of iHop and Applebees restaurant chains said same store sales rose 3.8% in the third quarter, helping it beat expectations for earnings and revenue.

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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.