(Updated - January 12, 2024 11:47 AM EST)
Investing.com -- Main U.S. indexes were lower Friday as investors digested earnings from a number of major banks and more inflation data.
Here are some of the biggest U.S. stock movers today:
JPMorgan Chase (NYSE:JPM) stock rose 2% on the open after the lender reported record full-year profit, benefiting from rising interest rates, despite a 15% fall in net income in the final quarter. Gains dwindled throughout the morning and the stock was flat midday.
Bank of America (BAC) stock fell 2.4% after the lender’s fourth-quarter profit shrank as it took $3.7 billion in combined charges to refill a government deposit insurance fund and phase out a loan index.
Wells Fargo (WFC) stock fell 3% after the bank warned that 2024 net interest income could be 7% to 9% lower than a year earlier, even as its fourth-quarter profit jumped, benefiting from cost cuts.
Tesla (NASDAQ:TSLA) stock fell 3.3% after the EV maker cut prices of some of its new China models, while adding it will suspend most car production at its factory near Berlin.
Delta Air Lines (NYSE:DAL) stock fell 8% after the carrier cut its profit outlook for the current year, citing supply chain issues and macroeconomic uncertainties. Shares of United Airlines (UAL) and American Airlines (NASDAQ:AAL) were also lower.
Lucid (NASDAQ:LCID) stock fell 7% after the EV maker announced it’s recalling more than 2,000 units of its Air luxury electric sedan for potential faults in early versions of a part that could pose a safety risk due to obstructed driver vision.
BlackRock (NYSE:BLK) stock fell 0.8% after the world’s largest asset manager said it will buy fund manager Global Infrastructure Partners in a deal worth $12.5 billion, and posted an 8% rise in its quarterly profit.
UnitedHealth (NYSE:UNH) stock fell 4% after the health insurer reported a jump in medical care costs in the fourth quarter. Shares of Humana (NYSE:HUM) and CVS Health (NYSE:CVS) also suffered.
Future Fintech (FTFT) stock slumped 22% after the U.S. securities regulator charged the financial services firm's CEO with fraud and disclosure failures.
Exxon Mobil (NYSE:XOM) stock rose 0.8% and Chevron (NYSE:CVX) climbed 0.9% after crude prices soared in the wake of the missile strikes by U.S. and British forces on Houthi forces in Yemen.
Boeing (NYSE:BA) stock fell 2% after the FAA said it will intensify oversight of the company after a panel broke off a new 737 Max plane during a flight. The FAA expressed concerns Boeing has other manufacturing problems.
Coinbase (NASDAQ:COIN) stock fell 5.5% as investors ‘sold the news’ following recent approval of spot Bitcoin ETFs. Bitcoin was lower by 5.3%.
Additional reporting by Louis Juricic