Midday Movers: AT&T, Tesla, Union Pacific and More

By Liz Moyer

Investing.com — Stocks wobbled on Thursday as corporate earnings continued to pour out. Here are the midday movers for Oct. 20:

• AT&T Inc (NYSE:) stock rose 7% after it for sales and profit in the recent quarter. The telecom giant, which split off its Warner Bros television and entertainment division earlier this year, said it can deliver $14 billion in free cash flow.

• Tesla Inc (NASDAQ:) shares fell 6% after the electric vehicle maker that was slightly below expectations. CEO Elon Musk said a delivery bottleneck at the end of the third quarter was caused by lack of trains and boats to transport Teslas.

• Union Pacific Corporation (NYSE:) shares fell 6% after the railroad disappointed on freight revenue and carload volume measurements.

• Lam Research Corp (NASDAQ:) stock rose 6% after the chip equipment maker reported a strong forecast for the fiscal second quarter and said it had higher than expected profit. It did say revenue for next year would take a hit of up to $2.5 billion because of export curbs on chips.

• International Business Machines (NYSE:) shares rose 4% after it and raised its growth forecast for the full year. The tech giant said all of its business units saw growth despite the challenge of a strong U.S. dollar.

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