Midday Stock Movers: Expedia, Airbnb, Chegg

2022.05.03 19:06

By Sam Boughedda

Investing.com — U.S. stocks are rising Tuesday. Here are the midday movers on May 3rd.

• Expedia (NASDAQ:EXPE) is down over 15% midday Tuesday even though the company reported earnings Monday evening that beat estimates. Revenue was in line with estimates, as travel demand remained robust despite the Covid and Ukraine-Russia headwinds.
• Western Digital Corporation (NASDAQ:WDC) has risen 13.65% after Elliott Investment Management disclosed an approximately 6% stake in the company and urged it to separate its business making hard drives for computers from its flash-memory business.
• Chegg (NYSE:CHGG), the online education company, has plunged 30% after it slashed its revenue outlook, saying the issues of enrollment, the economy, and inflation have all impacted the industry. They added that with higher wages and an increased cost of living, more people are shifting their priorities towards “earning over learning.”
• Pfizer (NYSE:PFE) is trading 2.85% above Monday’s close after it reported earnings and revenue that beat estimates. However, the company cut full-year EPS guidance based on an accounting change.
• Airbnb (NASDAQ:ABNB) is down over 5% ahead of its earnings release after the close. The vacation rental company’s price target was cut to $195 from $210 at KeyBank on Tuesday.
• Devon Energy (NYSE:DVN) has gained 8.5% after it posted earnings after the close Monday. Earnings per share beat analyst estimates, but revenue came in below forecasts of analysts polled by Investing.com.

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