{"id":73166,"date":"2023-10-16T09:48:25","date_gmt":"2023-10-16T13:48:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/pfizer-moderna-schwab-instacart-d-r-horton-tesla-and-more-stock-market-movers\/"},"modified":"2023-10-16T09:48:28","modified_gmt":"2023-10-16T13:48:28","slug":"pfizer-moderna-schwab-instacart-d-r-horton-tesla-and-more-stock-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73166","title":{"rendered":"Pfizer, Moderna, Schwab, Instacart, D.R. Horton, Tesla, and More Stock Market Movers"},"content":{"rendered":"
\n
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<\/p>\n<\/figure><\/div>\n

Stock futures rose Monday\u00a0as Wall Street prepared for a busy week of corporate earnings, with reports from Tesla and Netflix among the highlights. Traders also continued to monitor developments in the Israel-Hamas war.<\/p>\n

These stocks were poised to make moves Monday:\u00a0<\/p>\n

\n

\n Pfizer
\n (PFE) slashed revenue expectations for the year to $58 billion to $61 billion, down from a previous outlook of $67 billion to $70 billion as the drug maker expects a drop in sales of $9 billion from its Covid-19 vaccine and anti-viral treatment Paxlovid.
\n Pfizer
\n also forecast adjusted earnings $1.45 to $1.65 a share, down from a prior range of $3.25 to $3.45. Pfizer shares fell 1.3% and Covid vaccine partner
\n BioNTech
\n (BNTX) dropped 5.9%. Other Covid vaccine makers
\n Moderna
\n (MRNA), and
\n Novavax
\n (NVAX) declined 4.1% and 2.4%, respectively.<\/p>\n

Separately, reports from the Financial Times and Reuters said European Union regulators delayed a decision to approve
\n Novavax\u2019s<\/span>
\n revised Covid-19 vaccine.<\/p>\n

\n Charles Schwab
\n (SCHW), the largest publicly traded U.S. brokerage, reported third-quarter adjusted earnings of 77 cents a share, beating analysts\u2019 estimates of 74 cents. Revenue fell 6% to $4.61 billion. The stock fell 0.8%.<\/p>\n

\n Instacart
\n (CART) was initiated with a Buy recommendation at
\n Goldman Sachs
\n and a price target of $48. Shares of the grocery delivery service, which officially is known as Maplebear, also were initiated with Buy ratings at Baird,
\n Stifel,<\/span>
\n and Piper Sandler. The stock was up 2.2% in premarket trading to $26.14.<\/p>\n

\n D.R. Horton
\n (
\n DHI
\n ) was raised to Buy from Neutral by Goldman Sachs and the stock price was reduced to $131 from $132. Home builder
\n D.R. Horton
\n rose 2.1% in premarket trading to $105.80.
\n KB Home
\n (KBH) was downgraded to Neutral from Buy at Goldman. The stock fell 2%. <\/p>\n

\n Lululemon Athletica
\n (LULU) was up 5.9% to $400. It will be joining the S&P 500 on Wednesday, replacing
\n Activision Blizzard<\/span>
\n (ATVI), which was acquired by
\n Microsoft
\n (MSFT) last week. <\/p>\n

Starboard Value has built a stake in\u00a0
\n News Corp
\n (NWSA) and the activist shareholder plans to push for strategic and governance changes, The Wall Street Journal reported, citing people familiar with the matter.\u00a0Starboard\u2019s stake in
\n News Corp
\n is \u201csizeable,\u201d the people said. News Corp is the owner of Dow Jones, which publishes the Journal, Barron\u2019s<\/em>, and MarketWatch. News Corp\u2019s class A shares rose 0.3%.<\/p>\n

\n Rite Aid
\n (RAD) filed for bankruptcy late Sunday, plans to close more of its stores and named a new chief executive as part of a restructuring. The stock closed at 68 cents on Friday. It has declined 81% this year.<\/p>\n

Earnings reports are expected later this week from
\n Bank of America
\n (BAC),\u00a0
\n Goldman Sachs
\n (GS),
\n Johnson & Johnson
\n (JNJ),\u00a0
\n Lockheed Martin
\n (LMT),
\n United Airlines
\n (UAL),
\n Morgan Stanley
\n (MS),\u00a0
\n Netflix
\n (NFLX),\u00a0
\n Procter & Gamble
\n (PG),
\n Tesla
\n (TSLA),\u00a0
\n American Airlines
\n (AAL),
\n AT&T
\n (T),
\n Taiwan Semiconductor Manufacturing
\n (TSM), and
\n American Express
\n \u00a0(AXP). <\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stock futures rose Monday\u00a0as Wall Street prepared for a busy week of corporate earnings, with reports from Tesla and Netflix among the highlights. Traders also continued to monitor developments in the Israel-Hamas war. These stocks were poised to make moves Monday:\u00a0 Pfizer (PFE) slashed revenue expectations for the year to $58 billion to $61 billion, […]<\/p>\n","protected":false},"author":1,"featured_media":73167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-73166","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nPfizer, Moderna, Schwab, Instacart, D.R. 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