Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more

by | Oct 31, 2023 | Financial

Check out the companies making headlines in midday trading. Pinterest — Shares of the image-sharing social media platform soared 18% Tuesday, a day after the firm’s third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that had initially paused spending have already returned. Anheuser-Busch — The beer maker climbed 4.5% after reporting earnings of 86 cents per share in the third quarter, beating the consensus forecast of 83 cents per share from analysts polled by LSEG, formerly known as Refinitiv. Revenue came in at $15.57 billion, below the $15.73 billion anticipated. Anheuser-Busch also reaffirmed guidance. Caterpillar — The equipment manufacturer slipped 5% as investors worried fourth-quarter revenue could underwhelm Wall Street. Caterpillar said in its earnings presentation that revenue in the fourth quarter would be just “slightly” above the same quarter a year prior. JetBlue — Shares of the airline plunged 11% to a nearly 12-year low after Jet Blue posted third-quarter results that came in below analysts’ expectations. The company also forecast a loss for the fourth quarter and full year. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue, while analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. JetBlu …

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