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%
The Velodyne booth featuring Velodyne Lidar sensor technology at the 2020 Consumer Electronics Show (CES) in Las Vegas, Nev.
Photo: robyn beck/Agence France-Presse/Getty Images
- 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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