Tesla, Pinterest, IBM, Intel: What you should be aware of today on the stock market

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WSJ.com: Markets

Updated October 21, 2021 at 9:37 a.m. ET

Wall Street indices opened with muted losses amid a spate of earnings reports and after jobless claims fell to a pandemic low. The following moves in the session on Thursday:

  • Digital world survey DWAC 110.64%

    Shares rose after they announced they would merge with Trump Media & Technology Group, which aims to launch a social media platform backed by former President Donald Trump.

  • China’s Luckin Coffee LKNCY traded in the US -1.31%

    were in opening trading after releasing unaudited results for the first half of 2021.

  • Tesla TSLA 2.95%

    posted a record quarterly profit for the third consecutive year, thanks in part to its ability to handle persistent global supply chain disruptions.

  • AT&T T -0.54%

    added 928,000 postpaid telephone subscribers in the third quarter.

  • Pinterest PINS -2.60%

    Stocks gave up some of Wednesday’s gains after the Wall Street Journal reported PayPal PYPL -4.79%

    is in talks to acquire the social media platform.

  • Blackstone BX 2.89%

    ‘S net income nearly doubled in the third quarter, driven by strong investment performance for its largest strategies and continued expansion into rapidly growing new businesses.

  • American Airlines AAL 1.38%

    took a profit in the third quarter, although the increase in the Covid-19 Delta variant delayed some of the revenue recovery.

  • IBM IBM -8.18%

    reported weaker-than-expected revenue in the last quarter, negatively impacted by its cloud business and some customers’ hiatus from spending.

The IBM Foster City, California office, July 14, 2021.


Photo:

David Paul Morris / Bloomberg News

  • The shares of the railway operators increased after their earnings reports. Union Pacific UNP 0.28%

    recorded higher earnings and higher sales in the last quarter despite no increase in freight volume. CSX CSX 1.87%

    published third quarter results above expectations.

  • Activist investor Elliott Management has a large stake in the Canadian National Railway,

    CRF 1.47%

    Increased pressure on the railroad after CEO resigned after a failed bid for rival Kansas City Southern.

    KSU 0.33%

  • Las Vegas Sands LVS -2.58%

    “Losses decreased in the third quarter as revenues improved, but tightened pandemic restrictions and slow tourism continued to hurt financial results.

  • Discover DFS financial services -5.37%

    reported better-than-expected earnings for the last quarter, but a loss of investment caused the company to miss revenue expectations.

  • Intel,

    INTC 0.57%

    Chipotle,

    CMG 0.50%

    Snap,

    SNAP -1.55%

    Mattel MAT 1.89%

    and Whirlpool WHR -0.55%

    will report earnings upon completion.

Chart of the day
  • Chinese dollar bond defaults are growing rapidly as the country’s housing market collapses, and the problem could worsen as a wave of debt from the troubled industry matures in the coming months.

Write to James Willhite at james.willhite@wsj.com

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