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Midday Movers: Twitter, JPMorgan, Morgan Stanley and More

Stock Markets Jul 14, 2022 14:22
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By Liz Moyer

Investing.com -- U.S. stocks fell on Thursday after bank earnings gave some hints that an economic slowdown could be ahead. Here are the midday movers for July 14:

  • Twitter Inc (NYSE:TWTR) shares cooled after a few days of gains, falling 0.8% as the company continues its fight to force Elon Musk to carry through with his $44 billion deal. The social media company said it wouldn't be laying off big numbers of employees for now.

  • JPMorgan Chase & Co (NYSE:JPM) shares fell 4% after the major lender missed estimate expectations and raised its reserves for possibly bad loans, saying several macro trends could dent the global economy. The bank also suspended its share buying program, for now.

  • Morgan Stanley (NYSE:MS) shares fell 1.4% after dealmaking on Wall Street fell off a cliff in the quarter, with advisory on deals and stock offerings falling and cutting investment banking revenue by 55%. 

  • Costco Wholesale Corp (NASDAQ:COST) shares rose 3% after Deutsche Bank raised the warehouse retailer to buy from hold, shining a light on its membership discounts, which could appeal to cash-strapped shoppers right now.
  • Taiwan Semiconductor Manufacturing (NYSE:TSM) shares rose 2.7% after it raised its revenue forecast and beat expectations for the second quarter. It was showing strength in autos and companies that make consumer electronic gadgets.
Midday Movers: Twitter, JPMorgan, Morgan Stanley and More
 

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