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Midday Movers: DuPont de Nemours, Estee Lauder, Paramount Global and More

Investing.com
·1-min read

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:

Dupont de Nemours Inc (NYSE:DD) shares rose 4.5% after the chemicals giant called off its $5.2 billion acquisition of specialty materials company Rogers (NYSE:ROG), citing the inability to obtain all the required regulatory approvals. Rogers shares fell 44%.

Estee Lauder Companies Inc (NYSE:EL) 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:PARAA) 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.

Chegg Inc (NYSE:CHGG) 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.

Dine Brands Global Inc (NYSE:DIN) 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.

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