© Reuters.
By Liz Moyer
Investing.com — Stocks tumbled on Friday after a stronger-than-expected jobs report for September threw a wet blanket on hopes for a pivot on interest rates by the Federal Reserve. Here are the market movers for Oct. 7:
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Advanced Micro Devices Inc (NASDAQ:) shares fell 11% after the chip maker said third-quarter revenue would come in $1 billion below its previous projection because of a slump in PC sales.
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CVS Health Corp (NYSE:) shares fell 11% after the government lowered the performance ratings on its largest Medicare insurance plan and after a report it was exploring the purchase of Cano Health Inc (NYSE:). Shares of Cano, a primary care company, rose 5%.
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Halliburton Company (NYSE:) stock rose 3% as oil prices spiked on Friday. The oil field services company and producers are benefitting from rising crude prices after the cartel of major oil-producing nations agreed to cut production two million barrels a day.
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Tilray Inc (NASDAQ:) shares fell 18% after and profit. This comes a day after the shares spiked when President Joe Biden asked government agencies to review the classification of marijuana as a drug.
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Levi Strauss & Co (NYSE:) shares fell 10% after the denim apparel maker cut its forecasts for 2022.
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