Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Alphabet (GOOGL) reported upbeat Q3 results, with CEO Sundar Pichai saying momentum across the company is “extraordinary”
- AMD (AMD) reported better-than-expected Q3 earnings and revenue and provided Q4 revenue guidance
- Caterpillar (CAT) reported mixed Q3 results and provided its outlook for Q4 and FY24
- Eli Lilly (LLY) reported downbeat Q3 results and cut its FY24 earnings guidance
- Dropbox (DBX) will reduce its workforce by about 20%
2. WALL STREET CALLS:
- Alphabet (GOOGL) upgraded to Buy at Seaport Research on continued advertising momentum
- GE Vernova (GEV) upgraded at Daiwa, here’s why
- Bernstein cuts Boeing (BA) to Market Perform, skeptical it can outperform
- Qorvo downgraded by no less than three firms after September quarter report
- Wedbush downgraded Williams-Sonoma (WSM) on deteriorating trends
3. AROUND THE WEB:
- Meta’s (META) director of public policy for Southeast Asia criticized Malaysia’s plan to require social media platforms to apply for a regulatory license by January, Reuters says
- Shopify (SHOP) says it has lured hundreds of Salesforce (CRM) clients and is encouraging other companies to join the “mass migration,” Bloomberg reports
- TSMC (TSM) has suspended shipments of chips to at least two chip developers over suspicions they were trying to circumvent U.S. export controls on Huawei, Nikkei says
- Apple’s (AAPL) iPhone exports from India rose 33% year-over-year to roughly $6B in the six months through September 2024, putting 2025 exports on track to pass fiscal 2024’s $10B, Bloomberg reports
- The European Union is set to launch an investigation into PDD Holdings’ (PDD) Temu over concerns it is failing to curb the sale of illegal products online, Bloomberg says
4. MOVERS:
- ASP Isotopes (ASPI) increases after entering into a term sheet with TerraPower
- Unisys (UIS) and Gramin (GRMN) gains in New York after reporting quarterly results
- NerdWallet (NRDS) higher after reporting quarterly results, with EPS and revenue beating consensus
- Supermicro (SMCI) drops after announcing Ernst & Young has resigned as its registered public accountant
- CorMedix (CRMD) and Option Care Health (OPCH) fall after reporting quarterly results
5. EARNINGS/GUIDANCE:
- Reddit (RDDT) reported Q3 results, with EPS higher year-over-year
- First Solar (FSLR) reported Q3 results and cut its guidance for FY24
- Snap (SNAP) reported Q3 results, with EPS and revenue beating consensus
- AbbVie (ABBV) reported Q3 results and raised its guidance for FY24, with CEO Robert Michael commenting, “We delivered another quarter of strong commercial execution and significant pipeline progress”
- Illinois Tool Works (ITW) reported Q3 results, with CEO Christopher O’Herlihy commenting on the “solid” third quarter
