Intel’s record drop leads a cascade in chip names with the S&P 500 and Nasdaq seeing their worst session since June, while defensive buying gave the Consumer Staples ETF its best month on record.
Over 400 of the S&P 500’s components were higher even as the index ended lower and the Russell 2000 gained for a fourth day while Amazon and Intel dropped after hours
– $GKOS +16% (record Q3 sales and a large FY revenue-guidance raise topped expectations)
– $INSM +14% (BRINSUPRI revenue grew 29% sequentially and guidance was raised for both BRINSUPRI and ARIKAYCE)
– $NCLH +12% (Q3 results topped guidance and the FY EBITDA and EPS outlooks were raised)
– $CVNA +8.4% (large Q3 revenue beat and accelerating retail-unit growth outweighed an EPS miss)
– $CMG +8.3% (Q3 comparable sales beat expectations despite a modest profit miss)
– $DASH +6.9% (record GOV, revenue and net income alongside an agreed $17B acquisition of CART)
– $LITE +6.9% (MRVL is reportedly in advanced acquisition talks, with a deal potentially announced next week)
– $EBAY +6.1% (Q3 revenue and GMV growth accelerated, reinforcing improving marketplace momentum)
– $HII +5.6% (record Q3 revenue, $32.4B of contract awards and higher FY shipbuilding-revenue guidance)
– $LLY +5.1% (annual revenue guidance topped expectations)
– $NVS +3.2% (2026 core operating-income guidance was raised despite a drug-trial write-down)
– $RCL +3.5%, CCL +3.0% (cruise names rise after NCLH beat and raised its FY outlook)
– $MSFT +1.1% (strong cash flow and cloud guidance signaled better returns from heavy AI investment)
– FTNT -27% (headline beat and raised guidance failed to offset sharply slowing product growth and concerns the refresh cycle is fading)
– NOW -19% (strong topline results were overshadowed by softer forward cRPO expectations and unfavorable renewal phasing)
– HLN -14% (Q3 organic sales missed and FY organic-growth guidance was cut to around 2.5%)
– OSK -13% (quarter missed and FY revenue and EPS guidance were cut as fire-truck production problems persisted)
– MRVL -12% (reported talks to acquire LITE sparked concerns over deal cost and execution risk)
– $CAT -11% (quarter beat, but the margin outlook and durability of AI-infrastructure demand fell short of elevated expectations)
– $GOOGL -11% (Q3 profit and revenue missed as softer search advertising and surging AI spending intensified cash-burn concerns)
– $EGO -10% (2026 gold-production guidance was cut and cost outlooks were raised amid a slower Skouries ramp)
– $CTSH -10% (Q3 beat, but the FY revenue-growth outlook narrowed and Q4 growth guidance disappointed)
– $SCI -8.9% (Q3 earnings missed and guidance was cut)
– $ZS -7.1%, $OKTA -7.5%, $PANW -6.8%, $RBRK -6.8%, $CRWD -6.8%, $SAIL -8.0% (cybersecurity names fall on FTNT’s product-growth slowdown and refresh-cycle concerns)
– $NBIS -6.7%, $CRWV -6.4%, $STRL -6.6% (AI-infrastructure names retreat as $GOOGL’s spending surge renews concerns about monetization and cash returns)
– $HUBS -6.5%, $TEAM -6.9%, $CRM -5.8%, $TYL -5.8%, $WDAY -6.1% (enterprise-software names weaken after NOW’s forward cRPO and renewal outlook disappointed)
US economic data includes the advance estimate of Q3 GDP, which will incorporate September personal income and spending with PCE prices that will also be separately reported. We’ll also get weekly unemployment claims.
The Fed’s blackout period extends until midnight, with Fed speakers resuming Friday.
The non-Bill (>1yr in maturity) US Treasury auction is $44bn of 7-year notes.
61 S&P 500 components report, 14 of them with market caps over $100bn:61 S&P 500 components report, 14 of them with market caps over $100bn:
Before the open: Eli Lilly ($LLY), Mastercard ($MA), Merck ($MRK), Caterpillar ($CAT), Linde ($LIN), Bristol Myers Squibb ($BMY), Altria ($MO), Trane Technologies ($TT), Intercontinental Exchange ($ICE), Quanta Services ($PWR), Howmet Aerospace ($HWM), CRH ($CRH), Xcel Energy ($XEL), L3Harris ($LHX), Carrier ($CARR), Ameriprise ($AMP), D.R. Horton ($DHI), Ares Management ($ARES), WEC Energy ($WEC), Vulcan Materials ($VMC), Hershey ($HSY), Cognizant ($CTSH), WTW ($WTW), West Pharmaceutical ($WST), Incyte ($INCY), T. Rowe Price ($TROW), Bunge ($BG), Kimco Realty ($KIM), Avery Dennison ($AVY), Textron ($TXT), Baxter ($BAX), Huntington Ingalls ($HII), A.O. Smith ($AOS) and Norwegian Cruise Line ($NCLH)
After the close: Amazon ($AMZN), Intel ($INTC), Gilead ($GILD), SanDisk ($SNDK), Stryker ($SYK), Starbucks ($SBUX), Mondelez ($MDLZ), Republic Services ($RSG), Arthur J. Gallagher ($AJG), Digital Realty ($DLR), Monolithic Power ($MPWR), Coinbase ($COIN), Illumina ($ILMN), Twilio ($TWLO), ResMed ($RMD), Ingersoll Rand ($IR), Reddit ($RDDT), Veralto ($VLTO), Edison International ($EIX), First Solar ($FSLR), Alliant Energy ($LNT), Weyerhaeuser ($WY), GoDaddy ($GDDY), DaVita ($DVA) and Erie Indemnity ($ERIE)
Time not announced: Monster Beverage ($MNST) and AES ($AES)
Outside the US, Shell ($SHEL), TotalEnergies ($TTE) and Volkswagen ($VWAGY) report.
Ex-US highlights include a policy decision from the ECB, UK September net consumer credit and M4, Japan October consumer confidence index, Italy September unemployment rate, October consumer confidence index, economic sentiment and manufacturing confidence, Eurozone October economic confidence and Sweden Q3 GDP indicator.
From Christophe Barraud’s international Week Ahead rundown:
The Fed held rates steady with two hawkish dissents, Oracle’s aggressive long-term targets lifted AI names, but Alphabet fell about 9% after missing expectations.
– $CCI +11%, SBAC +9.9%, AMT +8.5% (tower operators rise after a report that SpaceX is discussing infrastructure partnerships for a nationwide wireless buildout)
– $NOK +5.2% (Q3 profit beat as AI-and-cloud sales more than doubled and order intake surged)
– $LITE +3.5%, AAOI +2.3%, COHR +2.3% (optical-networking names gain on read-through from Nokia’s sharp AI-and-cloud order growth)
– $BAH +1.9% (Q2 profit beat offset a slight revenue miss)
– $TECK +1.7% (copper-linked stocks rise as copper prices advance)
– $FLG -8.3% (Q3 profit and revenue missed expectations)
– $DECK -8.2% (quarterly sales missed and the FY sales outlook was cut, while the higher EPS guide relied partly on tariff refunds)
– $INFY -8.2% (FY revenue-growth guidance was cut to 1%-2% despite strong large-deal wins)
– $ALV -5.2% (Q3 profit and sales missed as cost headwinds weighed on results)
– $CRDO -4.6% (AI-infrastructure hardware weakness continues amid concerns over the pace and returns of sector spending)
– $TMUS -4.5%, T -4.4%, VZ -3.9% (wireless carriers fall after a report that SpaceX is pursuing a nationwide cellular-infrastructure program)
– $BE -3.9% (record results and raised guidance were not enough after a major AI-power rally)
– $MRNA -3.7% (extends losses following leaked cancer-vaccine data that disappointed investors)
– $FIX -3.1% (earnings beat, but the CFO retirement and elevated expectations drive a sell-the-news reaction)
– $ACN -2.7%, $CTSH -2.0% (IT-services names fall after Infosys cut its FY growth outlook)
– $WDC -1.9%, STX -1.4% (storage names retreat despite WDC’s beat-and-raise report as elevated expectations trigger profit-taking)
– $MEDS +36% (preliminary September pharmacy revenue exceeded $1M, rising more than 66% from July)
– $ACN +17% (Q4 beat with $22.2B of bookings and stronger operating margins)
– $ABAT +13% (receives federal approval to export up to $100M of recycled black-mass material)
– $QSI +13% (no clear fresh catalyst identified; unusually large move on heavy premarket volume)
– $VICR +12% (raises Q3 sequential revenue-growth outlook to more than 30% from more than 20% on higher royalties)
– $GLOB +11%, $CTSH +7.5%, $INFY +8.1%, $EPAM +6.6% (IT-services names rise in read-through from ACN’s Q4 beat, strong bookings and margin performance)
– $INSG +9.6% (completes fixed-wireless-access acquisition expected to roughly double revenue and expand its global footprint)
– $IBM +5.7% (unveils a self-hosted enterprise AI model)
– $NU +5.6% (rebounds after clarifying it is not pursuing the reported UK digital-bank acquisition)
– $GLUE +4.8% (Phase 1 GFORCE-1 results showed normalization of key pathogenic drivers of cardiovascular disease)
– $RKLB +4.3% (signs its largest commercial launch agreement, covering 20 missions and lifting total backlog above 100 launches)
– $MKC +3.7% (Q3 profit and sales beat expectations as pricing offset softer volumes)
– $SNPS +3.7% (signs a multiyear silicon-IP and engineering-software agreement valued above $1B)
– $CEG +3.4% (signs a 20-year, 690-megawatt nuclear power agreement supporting more than $3B of infrastructure investment)
– $TARA +3.3% (updated 12-month Phase 2 ADVANCED-2 data showed durable responses in BCG-naïve bladder-cancer patients)
– $FHTX -43% (Phase 1 review leads to discontinuation of FHD-909 expansion and a related degrader program; workforce cut about 40%)
– $ANGO -16% (no clear fresh catalyst identified; unusually large, high-volume premarket decline)
– $LQDA -12% (federal court rules YUTREPIA infringed two pulmonary-hypertension patent claims)
– $ZELA -12% (Phase 3 obesity trial met its endpoints, but weight-loss efficacy fell short of investor expectations)
– $BGIN -10% (slides following first-half results)
– $IVA -10% (extends weakness following unaudited first-half results and corporate update)
– $FLOC -8.5% (no clear fresh catalyst identified; unusually large, liquid premarket decline)
– $ENTX -6.4% (no clear fresh catalyst identified after healthcare and company-news checks)
Oil prices fall, midterms spending, Nasdaq-100 changes, and other headlines moving stocks this morning.
