Peloton, Pfizer, Meta, General Motors: What to Watch in the Stock Market Today

U.S. stock indexes wobbled in morning trading as investors awaited another docket of major earnings reports. Here’s what we’re following in markets Tuesday:

• The Wall Street Journal reported that Peloton Interactive PTON 25.28% plans to replace its chief executive, cut costs and overhaul its board after a slowdown in demand caused the once-hot bike maker’s value to plummet.
• Shares of maker of sensors for autonomous cars Velodyne Lidar VLDR 7.16% soared after it reported an investment by Amazon.com. AMZN 2.20%

• Nvidia NVDA 1.54% said its deal with SoftBank for the U.K.’s Arm was called off.
• Pfizer PFE -2.84% reported fourth-quarter profit that beat expectations, while revenue more than doubled but missed forecasts.
• Shopping-mall owner Simon Property Group SPG -4.62% reported a rise in annual profit last year from 2020.
• Videogame maker Take-Two Interactive’s TTWO -1.66% quarterly results and forecast came in below analysts’ expectations.
• Morgan Stanley MS 1.11% cut its outlook on shares of General Motors GM -2.46% to equal-weight from overweight.
• Peter Thiel, one of Facebook’s earliest investors and its longest-serving outside board member, is planning to step down from his position at the social-media giant now known as Meta Platforms. FB -2.10%
• Managed care company Centene CNC 6.04% beat analysts’ estimates for the fourth quarter.
• Heating-and-cooling equipment maker Carrier Global CARR 0.74% beat estimates for the fourth quarter.
• KKR’s KKR -6.15% fourth-quarter earnings fell as the change in the value of its investments lagged behind the broader market.
• Harley-Davidson HOG 15.53% said it expects sales to continue to grow in 2022 for its core motorcycles and related products segment.
• Earnings are due after the market close from Lyft, LYFT 5.37% Chipotle Mexican Grill CMG 0.51% and Peloton Interactive.

Chart of the Day

• A recent shift toward dividend-paying stocks is a bid for protection against a slowing economy and rising interest rates.

Write to Caitlin Ostroff at [email protected]

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