Midday movers: Oatly, Tyson Foods, Eli Lilly and more
By Liz Moyer
Investing.com -- Stocks were mixed on Monday as investors awaited earnings reports from the biggest U.S. retailers this week. Here are the midday movers for Nov. 14:
Oatly Group AB ADR (NASDAQ: OTLY ) stock fell 13% the dairy alternative maker reported a wider than expected quarterly loss and revenue fell short of expectations, largely because of Covid-related restrictions in China. It cut its sales forecast for the year.
Tyson Foods Inc (NYSE: TSN ) stock fell 2.7% after adjusted earnings per share fell short of expectations. But it beat the forecasts for revenue as chicken got more expensive, and its sales outlook for 2023 is higher than analysts expected.
Eli Lilly and Company (NYSE: LLY ) shares rose 1.5% and Biogen Inc (NASDAQ: BIIB ) shares rose 4.7% after their European pharmaceutical rival Roche (OTC: RHHBY ) said a trial of its drug to treat Alzheimer's disease didn't meet its goals. Lilly and Biogen are also working on Alzheimer's treatments.
Amazon.com Inc (NASDAQ: AMZN ) shares fell 1.7% after a report that it was preparing to lay off 10,000 corporate jobs as early as this week as retailers head into the holiday sales season.
Bed Bath & Beyond Inc (NASDAQ: BBBY ) stock fell 8.6% after the home goods retailer said it would issue 11.7 million shares to repay some of its debt. The stock, which is down 75% this year, hit a new 52-week low.
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