Midday Movers: Pinduoduo, Bristol-Myers, Netflix and More

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Midday Movers: Pinduoduo, Bristol-Myers, Netflix and More
Credit: © Reuters.

By Liz Moyer

Investing.com -- U.S. stocks fell again after last week's remarks by Fed Chair Jerome Powell stoked rate fears. Here are the midday movers for Aug. 29:

  • Pinduoduo (NASDAQ: PDD ) U.S.-listed shares jumped 17% after the Chinese e-commerce company reported strong earnings on improving consumer sentiment.
  • Bristol-Myers Squibb Company (NYSE: BMY ) stock fell 5% after mixed phase 2 results from its secondary stroke treatment.
  • Netflix Inc (NASDAQ: NFLX ) shares rose 1.2% on reports its ad-supported streaming tier will cost $7 to $9 a month.
  • Meta Platforms Inc (NASDAQ: META ) shares fell 0.9% as part of a broad tech sector sell-off. The stock also moved after a report it settled a lawsuit that accused the Facebook parent of giving third parties access to private user data.
  • Dow Inc (NYSE: DOW ) shares fell 2% after KeyBanc downgraded the stock, citing the possibility of an economic downturn in Europe that could hurt its business.

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