© Reuters.
By Sam Boughedda
Investing.com — U.S. equities are declining before the weekend, with the down over 1.5% midday. Here’s what’s moving at the midway point on Friday, April 29th.
- Amazon.com (NASDAQ:) is down over 12% midday after the tech giant posted weaker-than-expected revenue guidance for the second quarter. Amazon also revealed a $7.6 billion loss on its Rivian investment.
- Tesla (NASDAQ:) is trading 3% higher despite CEO Elon Musk selling $8.5 billion worth of shares, days after he agreed on a deal to buy Twitter (NYSE:). However, Musk said no further sales are planned.
- Alibaba (NYSE:) has gained 11%, Pinduoduo (NASDAQ:) is up 17%, and Baidu Inc (NASDAQ:) is trading 7% higher as Chinese tech stocks gain on news policymakers in the country have signaled an easing of government crackdowns.
- AbbVie (NYSE:) stock has tumbled over 8% after it reported , missing revenue expectations. The company reported revenue of $13.54 billion, compared to expectations of $13.67 billion.
- Intel (NASDAQ:) beat and revenue forecasts but is down 5% after the company posted weak second-quarter guidance.
- Apple (NASDAQ:) stock started the session lower before rising, then falling again, and is currently down 0.7% after it cautioned about more significant supply chain problems in the current quarter. However, the company beat both and revenue forecasts.
- Robinhood Markets (NASDAQ:) initially fell but is now up 2.4%. The brokerage missed earnings and revenue expectations, while users declined. The company said customers with smaller accounts traded less when the market declined.
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