Midday movers: Peloton Interactive, Electronic Arts, Match Group and more
By Liz Moyer
Investing.com -- Stocks were lower on Wednesday ahead of the Federal Reserve's decision on interest rates and a press conference by Chair Jerome Powell. Here are the midday movers for Feb.1.
- Peloton Interactive Inc (NASDAQ: PTON )stock jumped 18% after the CEO said results for the recent quarter could have marked a turning point for the connected fitness company. Subscription sales are now higher than sales of its bikes and other fitness products.
- Electronic Arts Inc (NASDAQ: EA )shares fell 12% after the game developer said it was stopping development of two mobile games and would delay the release of its Star Wars game.
Match Group Inc (NASDAQ: MTCH )stock fell 9% after the dating app firm, which owns Tinder and Hinge, missed expectations for fourth quarter profit and issued an outlook for the first half of this year that was also below expectations.
- Advanced Micro Devices Inc (NASDAQ: AMD ) stock rose 8% after the chip maker reported better than expected fourth quarter results as business in server processors and cloud computing helped overcome weakness in the PC business.
Snap Inc (NYSE: SNAP )stock fell 13.9% after the social media app missed expectations for fourth quarter results and said it expects sales in the first quarter to dip. That was worrisome news for other ad-dependent internet companies, including Meta Platforms Inc (NASDAQ: META ), which reports later today. Shares of Meta were up 0.3%.
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