By Liz Moyer
Investing.com -- Stocks fell on Wednesday as investors digested more data that showed a slowing economy. Here are the midday movers for Jan. 18.
- Microsoft Corporation (NASDAQ:MSFT) shares fell 1% after the software giant said it was cutting 10,000 jobs through March and taking a $1.2 billion charge in an effort to rein in costs as revenue growth slows.
- JB Hunt Transport Services Inc (NASDAQ:JBHT) shares rose 4%. The logistics company missed expectations for earnings and revenue but executives said they expect improvement in freight in the second and third quarters.
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Moderna Inc (NASDAQ:MRNA) shares rose 3% after the COVID-19 vaccine maker said it had success in a test of an experimental vaccine for an infectious respiratory virus called RSV. The vaccine, based on its mRNA technology, was 83.7% successful at preventing less severe illness in adults 60 and older.
- PNC Financial Services Group Inc (NYSE:PNC) shares fell 5% after the regional bank missed expectations for profit and the provision for credit losses rose.
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Charles Schwab Corp (NYSE:SCHW) stock fell 3.5% after the brokerage and wealth management firm fell short of expectations for earnings. But it added four million accounts in 2022. Total client assets at year end were $7.05 trillion.