Welcome to Extreme Investor Network, where we provide you with the latest updates and insights into the world of finance. Today, we want to highlight some of the companies that are making headlines in midday trading.
Nvidia and Sherwin-Williams are seeing a boost in their stocks, rising roughly 0.5% and 4.6%, respectively, after the announcement that they will be joining the Dow Jones Industrial Average. This move is set to take effect on Friday, with Nvidia replacing rival chipmaker Intel and Sherwin-Williams taking the place of Dow Inc. Intel shares slid more than 2.9% in response to this news.
Berkshire Hathaway shares dropped nearly 2% after Warren Buffett’s conglomerate revealed a slight decrease in operating earnings compared to a year ago. This news was slightly below analyst forecasts, causing a dip in the stock price.
Talen Energy, an independent power producer, saw a decrease of more than 2% after the Federal Energy Regulatory Commission rejected a request to increase the amount of power that the Susquehanna nuclear plant can dispatch to an Amazon data center. This decision also impacted the stocks of Constellation Energy and Vistra.
Marriott International experienced a drop of 1.6% after reporting disappointing third-quarter earnings and forward guidance. The company fell slightly short of analyst estimates, leading to a decline in stock value.
On the positive side, Peloton’s stock jumped 3.6% after being upgraded to buy by Bank of America. The bank sees potential for the company to grow earnings under new leadership.
Yum China Holdings soared over 7% after exceeding expectations in the third quarter, reporting record revenue. Similarly, Fox Corp. saw a rise of 2.7% after surpassing Wall Street’s fiscal first-quarter estimates.
Chewy also saw a significant increase of 6.3% after being included in the S&P MidCap 400 index, replacing Stericycle. However, The New York Times experienced a 7.7% drop in shares after adding fewer-than-expected digital subscribers in the third quarter.
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