Investing.com -- U.S. stocks were wobbling on Wednesday amid a slew of earnings reports, as investors await a second public appearance this week by Federal Reserve Chair Jerome Powell, who is participating in a panel discussion on Thursday.
Here are some of the biggest U.S. stock movers today:
Warner Bros Discovery (NASDAQ: WBD ) stock fell 17% after the media giant narrowed its third-quarter loss, helped by the box-office success of “Barbie”, but still saw a 12% decline in advertising at its portfolio of TV networks.
Eli Lilly and Company (NYSE: LLY ) stock rose 2% after the Food and Drug Administration approved its Tirzepatide drug for Type 2 diabetes, currently under the brand name Mounjaro, for weight loss. The weight loss version of the drug will be sold under the new brand name Zepbound.
Robinhood (NASDAQ: HOOD ) stock fell 14.9% after the online brokerage reported third-quarter revenue that fell short of estimates amid a decline in users.
Upstart (NASDAQ: UPST ) stock slumped over 26% after the AI lending platform disappointed with its quarterly results, while next quarter's revenue guidance fell short of expectations.
Rivian (NASDAQ: RIVN ) stock fell 3.3% after the EV manufacturer raised its production forecast for the full year by 2,000 vehicles to 54,000 units on the back of sustained demand for its trucks and SUVs.
Upwork (NASDAQ: UPWK ) stock surged over 11% after the freelancing platform beat expectations with its third-quarter earnings and revenues, while also offering strong guidance for the full year.
Gilead Sciences (NASDAQ: GILD ) stock fell 3.6% after the drugmaker said its third-quarter sales were little changed from a year earlier, but earnings rose mainly due to lower taxes.
Lucid Group (NASDAQ: LCID ) stock fell 8.3% after Cantor Fitzgerald downgraded the EV manufacturer to ‘neutral’ from ‘buy’ after the company reported its third-quarter results and cut its full-year production forecast.
Take-Two (NASDAQ: TTWO ) stock soared 6.9% on reports the eagerly-awaited new Grand Theft Auto game may be unveiled this week.
Toast (NYSE: TOST ) stock fell 13% after the restaurant software platform reported another quarterly loss and provided disappointing sales guidance for the upcoming quarter.
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