11:53 AM EDT, 10/10/2024 (MT Newswires) -- Wall Street's major market averages were trading lower on Thursday as traders digested the hotter-than-expected consumer inflation report.

The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.2% in September, ahead of expectations for a 0.1% increase in survey of analysts compiled by Bloomberg as of 8:05 am ET and following a 0.2% increase in August, based on data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, increased by 0.3%, faster than the consensus estimate for a 0.2% gain. Core CPI also rose by 0.3% in August.

In corporate news, Delta Air Lines ( DAL ) shares slipped 0.3% in recent trading after it reported Q3 adjusted earnings of $1.50 per diluted share, down from $2.03 a year earlier. Operating revenue increased to $15.68 billion from $15.49 billion a year earlier.

10x Genomics' ( TXG ) shares retreated 25% in recent Thursday trading after the company overnight said preliminary results showed a revenue decline of about 1% year-over-year to roughly $151.7 million for Q3 that ended Sept. 30. Analysts polled by Capital IQ expect $162.3 million. Chief Executive Serge Saxonov said Q3 sales fell short of the company's expectations.

Pfizer ( PFE ) shares dropped 2.1% in recent trading after shareholder Starboard Value said in a letter Thursday it was urging the company's board to immediately form a special committee to probe an event that resulted in former CEO Ian Read and former Chief Financial Officer Frank D'Amelio facing threats from "people within Pfizer ( PFE ) and/or their representatives." The people "threatened" the former CEO and former CFO to "commence costly litigation against them, claw back prior compensation, and cancel unvested performance stock units, unless they publicly release a statement supporting the current CEO, Dr. Albert Bourla," the letter added. Pfizer ( PFE ) declined MT Newswires' request for comment.

GXO Logistics ( GXO ) shares advanced 15% in recent Thursday trading after Bloomberg reported that the company is working with financial advisers to explore a potential sale. GXO started to review options after potential buyers expressed interest in the company, but no final decision has been reached and the company could choose to stay independent, according to the report. The company didn't immediately respond to a request for comment from MT Newswires.

Amazon.com ( AMZN ) said Thursday that Prime Big Deal Days was its biggest-ever October shopping event, with more Prime members shopping compared with last year. Separately, the company said late Wednesday that Apple's ( AAPL ) streaming service, Apple TV+, will become available on Prime Video later this month in the US. Amazon ( AMZN ) shares were up 0.7% and Apple ( AAPL ) shares were down 0.5% in recent Thursday trading.

Price: 50.66, Change: -0.17, Percent Change: -0.33