© Reuters
By Liz Moyer
Investing.com — Stocks were falling on Friday after a stronger-than-expected jobs report for November blunted expectations the Fed would ease the pace of interest rate hikes. Here are the midday movers for Dec. 2.
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Marvell Technology Group Ltd (NASDAQ:) stock fell 4.6% after the chip maker on revenue and profit, saying customers are reducing chip inventory that has built up over time.
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Zscaler Inc (NASDAQ:) shares fell 12% after the cloud security software maker said billings for the first fiscal rose 37%. That beat expectations but the pace has slowed from the prior three quarters, when billings jumped by at least 50%.
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PagerDuty Inc (NYSE:) stock rose 6.8% as the company reported revenue increased 31.3% and beat expectations. It sees fourth quarter revenue of between $98 and $100 million, which is higher than expectations.
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CSX Corporation (NASDAQ:) stock dropped 1.6% along with other railroad operators after President Joe Biden signed a measure passed by both houses of Congress to stop a railroad strike that could have started in the next week. Union Pacific Corporation (NYSE:) shares fell 0.5%, and Norfolk Southern Corporation (NYSE:) stock fell 0.9%.
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Ford Motor Company (NYSE:) stock fell 2% even after the auto maker said its electric vehicle deliveries in November doubled from the year before.
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