Yahoo Movies Midday Movers: AT&T, Tesla, Union Pacific and More
By Liz Moyer
Investing.com -- Stocks wobbled on Thursday as corporate earnings continued to pour out. Here are the midday movers for Oct. 20:
AT&T Inc (NYSE:T) stock rose 7% after it beat expectations for sales and profit in the recent quarter. The telecom giant, which split off its Warner Bros television and entertainment division earlier this year, said it can deliver $14 billion in free cash flow.
Tesla Inc (NASDAQ:TSLA) shares fell 6% after the electric vehicle maker delivered revenue that was slightly below expectations. CEO Elon Musk said a delivery bottleneck at the end of the third quarter was caused by lack of trains and boats to transport Teslas.
Union Pacific Corporation (NYSE:UNP) shares fell 6% after the railroad disappointed on third quarter freight revenue and carload volume measurements.
Lam Research Corp (NASDAQ:LRCX) stock rose 6% after the chip equipment maker reported a strong forecast for the fiscal second quarter and said it had higher than expected first quarter profit. It did say revenue for next year would take a hit of up to $2.5 billion because of export curbs on chips.
International Business Machines (NYSE:IBM) shares rose 4% after it beat expectations and raised its growth forecast for the full year. The tech giant said all of its business units saw growth despite the challenge of a strong U.S. dollar.
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