© Reuters. By Liz Moyer
Investing.com — Stocks were lower ahead of the Federal Reserve’s interest rate decision this afternoon. Here are the midday movers for Nov. 2:
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Dupont de Nemours Inc (NYSE:) shares rose 4.5% after the chemicals giant called off its $5.2 billion acquisition of specialty materials company Rogers (NYSE:), citing the inability to obtain all the required regulatory approvals. Rogers shares fell 44%.
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Estee Lauder Companies Inc (NYSE:) shares fell 9% after the cosmetics maker cut its profit outlook, citing the strength of the dollar, supply chain issues, and Covid-related disruptions in China.
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Paramount Global (NASDAQ:) shares tumbled 10% after it missed estimates on earnings for the third quarter as advertising revenue fell 3% in its television business. Streaming subscribers reached 46 million.
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Chegg Inc (NYSE:) shares rose 24% after the online educator said third quarter profit beat expectations and it raised is outlook. It had 4.8 million subscribers, up 9% from the same time last year.
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Dine Brands Global Inc (NYSE:) shares rose 1.5% after the parent of iHop and Applebees restaurant chains said same store sales rose 3.8% in the third quarter, helping it beat expectations for earnings and revenue.
Story Credit: investing.com