Stock Market News

Amex, AutoNation, Carvana fall premarket; Scholastic rises

2023.07.21 08:23


© Reuters.

Investing.com — U.S. edged higher Friday, with sentiment boost by a largely positive start to the quarterly earnings season, ahead of next week’s crucial Federal Reserve meeting.

Here are some of the biggest premarket U.S. stock movers today:

  • American Express (NYSE:) stock fell 3.6% after the credit card giant lifted its total provisions for credit losses to $1.2 billion in the second quarter, compared with $410 million a year earlier. It still estimates for second quarter profit as its affluent customer base continued to spend.

  • AutoNation (NYSE:) stock fell 1% after the auto retailer posted a sharp drop in used-vehicle sales as well as a rise in expenses, overshadowing better-than-expected quarterly .

  • CSX (NASDAQ:) stock fell 4.4% after the U.S. railroad operator disappointed with its second quarter , hit by a decline in intermodal volumes and lower fuel prices.

  • PPG Industries (NYSE:) stock fell 1.8% after the paints manufacturer recorded a drop in overall sales volumes in the second quarter, even as it raised its full-year profit forecast.

  • Knight Transportation (NYSE:) stock fell 1.5% after the trucking company warned that consolidated second quarter results will be lower than it previously expected.

  • Scholastic (NASDAQ:) stock rose 9.6% after the children’s publishing and media company earnings expectations and announced it would increase its share repurchase amount by $100M.

  • Intuitive Surgical (NASDAQ:) stock fell 3.9% on a continued decline in growth rates for bariatric surgery in the U.S., even as the medical equipment manufacturer reported positive second quarter .

  • Carvana (NYSE:) stock fell 1.7% after Piper Sandler downgraded its stance on the used-car retailer to ‘neutral’ from ‘overweight’, saying it has little room for upside.

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