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

2022.08.29 20:34

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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