Summary
Urbanization is accelerating globally, with the United Nations predicting significant growth in cities over the coming decades. The challenge lies in ensuring these cities evolve into smarter, more efficient environments. Experts highlight Dubai as a leading example, noting its proactive urban planning and rapid population growth, which surged by a third in just five years. Rohit Kumar from Seema's Advanta emphasizes that artificial intelligence will play a crucial role in transforming urban infrastructure, allowing for faster and more effective solutions.
In the realm of corporate performance, Rivian reports a notable increase in revenue and a smaller-than-expected loss, driven by the success of its new R2 SUV model. Chipotle also exceeds sales expectations, attributing its growth to frequent menu updates and loyalty programs. Meanwhile, the Intercontinental Exchange sees a significant rise in share prices following strong earnings, while Intel faces a dramatic decline due to a disappointing outlook. The cryptocurrency sector experiences volatility, with several related stocks dropping sharply amid ongoing market challenges.
Show Notes
Today's biggest winners and losers in the stock market. On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Tim Stenovec, Jess Menton - Rivian Automotive (RIVN) reported a smaller-than-expected loss and early momentum for its new R2 SUV. The company's revenue jumped 38% to nearly $2.2 billion, more than Wall Street expected, and the R2 became its top-selling model in its first full quarter on the market. Rivian raised the low end of its full-year delivery forecast to at least 67,000 EVs and named Derek Mulvey as its interim CFO, effective Oct. 30.
- Intel (INTC) suffered its worst stock rout in more than four decades due to a PC industry slump and supply-chain snags that hurt its forecast. The company projects sales of $15 billion to $16 billion in the fourth quarter, with profit of 25 cents a share, excluding certain items, which is lower than analysts' estimates. Intel's stock fell as much as 30% in New York trading, and the company expects the PC downturn to persist through at least the first half of 2027, with a decline of 10% next year.
- Reddit (RDDT had its biggest share drop since its initial public offering after saying it is planning to limit access to its online forums. The company plans to start testing different approaches in markets outside of the US throughout the fourth quarter to get users to register for accounts and deepen engagement. Reddit’s shares fell to $95 when trading opened in New York on Friday, after the company posted a revenue outlook that fell below analysts’ estimates. See omnystudio.com/listener for privacy information.
More from Stock Movers
Today's biggest winners and losers in the stock market, a look at the notable movers: On this episode of Stock Movers:
On this episode of Stock Movers: - Intel (INTC) shares plummet as much as 30% on Friday, in biggest intraday drop since at least November 1982, after the chipmaker’s outlook was much weaker than expected, due in part to sluggishness in PCs. Morgan Stanley notes that the quarter is a setback for the company and characterizes the PC correction as severe. - Reddit shares plunge. Reddit Inc. had its biggest share drop since its initial public offering after saying it is planning to limit access to its online forums. The company plans to start testing different approaches in markets outside of the US throughout the fourth quarter to get users to register for accounts and deepen engagement. - Regeneron (REGN) shares climb the most intraday since 2022, after the drugmaker reported revenue and adjusted profit for the third quarter that were ahead of Wall Street’s expectations. See omnystudio.com/listener for privacy information.
On this episode of Stock Movers: - Reddit (RDDT) shares plunge. Reddit Inc. had its biggest share drop since its initial public offering after saying it is planning to limit access to its online forums. The company plans to start testing different approaches in markets outside of the US throughout the fourth quarter to get users to register for accounts and deepen engagement. Reddit’s shares fell to $95 when trading opened in New York on Friday, after the company posted a revenue outlook that fell below analysts’ estimates. - Pinterest (PINS) shares fall. The social-media company reported revenue for the third quarter that missed the average analyst estimate. It also gave an outlook that is seen as weak. Baird also lowered the firm's price target on Pinterest to $22 from $26 and keeps a Neutral rating on the shares. - nVent (NVT) shares drop after the maker of power and cooling equipment reported earnings. Orders grew far more slowly than sales, suggesting that the company’s growth is at risk of slowing, according to Bloomberg Intelligence. The report comes during a sharp pullback in AI infrastructure stocks before the bell Friday, and after investors punished a series of reports by other industrial data-center suppliers. See omnystudio.com/listener for privacy information.
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Intel (INTC) is in the red this morning after revenue forecast missed analysts' estimates, hurt by demand for PC processors and supply-chain problems with data center components. - Reddit (RDDT) shares are sinking on plans to limit access to its online forums to get users to register for accounts and deepen engagement. Reddit executives are willing to sacrifice some of the platform's reach to engage a smaller but more engaged audience with insights that will be valuable to advertisers. - Roblox (RBLX) shares are sliding after reported a year-over-year decline in player engagement after deploying more robust child-safety measures. See omnystudio.com/listener for privacy information.
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - ExxonMobil (XOM) shares are moving after it reported earnings this morning. Chevron (CVX) shares are as well after Exxon and Chevron both beat earnings estimates on strong refining - Crypto related stocks are lower after Binance suffered a $6.3 billion hack, the largest to hit the digital-asset industry, and has suspended all withdrawals. Bitcoin, Coinebase (COIN), and Circle (CRCL) are among those moving lower. - Amazon (AMZN) and Intel (INTC) are in the red this morning after Amazon reported greater capital spending than anticipated and the slowest growth in the core e-commerce business in three years. Intel's revenue forecast missed analysts' estimates, hurt by demand for PC processors and supply-chain problems with data center components. - Reddit (RDDT) shares are sinking on plans to limit access to its online forums to get users to register for accounts and deepen engagement. Reddit executives are willing to sacrifice some of the platform's reach to engage a smaller but more engaged audience with insights that will be valuable to advertisers. See omnystudio.com/listener for privacy information.