Show Notes
Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- Alphabet (GOOGL)’s shares fell more than 13%, erasing more than $500 billion in its biggest-ever market plunge, after the company reported disappointing search and advertising sales that reinforced investor concerns about AI’s threat to its core business. The results and share reaction “show us the margin for error when a hyperscaler spending hundreds of billions on the AI infrastructure buildout” posts disappointing results in its core business, JPMorgan analysts including Doug Anmuth said in a note.
- Microsoft (MSFT) drew demand for its $25 billion bond offering, with $115 billion of orders at its peak, or 4.6 times the offering’s size. The transaction is one of the most sought-after US corporate bond sales on record, with the debt launched in as many as 10 tranches, with maturities ranging from two to 40 years. The sale is a test of appetite for financing AI investments, with Microsoft standing out among its Big Tech peers in having not tapped the market in years and having top-tier AAA ratings from Moody’s Ratings and S&P Global Ratings. Microsoft shares fell amid a broader tech selloff.
- Share of Chipotle Mexican Grill (CMG) are gaining as trader react to sales rising faster than expected in the third quarter due to more frequent menu launches and revamped loyalty offers. Same-store sales climbed 2.1% in the period, and the company's third-quarter revenue rose nearly 10% to $3.3 billion. Chipotle expects to close out the year with 2% higher prices and anticipates inflation of around 3% in the current quarter and elevated levels next year. 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: - Intel (INTC) revenue forecast missed analysts' estimates due to sputtering demand for PC processors and supply-chain problems with its data center components. The company projects the PC market slump will persist through at least the first half of 2027, and decline 10% next year, following a 12% slide in 2026. Intel shares fell about 15% in late trading after the report was released, despite the company's optimism about demand for its products and its increasing spending on new equipment to boost production. - Shares of Amazon (AMZN) fall as the company reported greater capital spending than anticipated. E-commerce revenue slowed and the company’s outlook for holiday sales indicated the online business isn’t poised for a quick rebound. The company spent more than $77 billion on property and equipment in the third quarter, leading to a free cash outflow of $42.4 billion, and revenue gained 12% to $201.9 billion. Online sales gained just 2% to $68.5 billion, the lowest growth rate since early 2023, while revenue at its cloud unit, Amazon Web Services, accelerated for the sixth straight quarter. - Reddit (RDDT) shares fell after the company announced plans to limit access to its online user forums to users with accounts to deepen engagement and improve the advertising business. The company will start testing different approaches in markets outside of the US throughout the fourth quarter, and hasn’t decided yet which parts of its site will remain available to logged-out visitors. Reddit executives believe the strategy will eventually lead to more growth, despite the potential for it to limit the platform’s reach in the short term, by encouraging people to visit the platform directly and providing valuable insights to advertisers. See omnystudio.com/listener for privacy information.
On this episode of Stock Movers:
On this episode of Stock Movers:
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Eli Lilly (LLY) is climbing in early trading after the drugmaker boosted its revenue guidance for the full year, following better-than-expected sales in the third quarter. - EBay (EBAY) shares jumped after the online auction company’s results and forecast were seen as underlining its strong execution and growth prospects. Wells Fargo upgraded the stock. - Caterpillar (CAT) shares are moving after it posted quarterly earnings that beat Wall Street expectations as demand for the company's power-generation equipment continued to drive sales. The company's power and energy segment has grown into its largest business by sales, driven by technology companies' need for infrastructure to meet AI's enormous electricity demand. See omnystudio.com/listener for privacy information.
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Merck (MRK) shares are moving after it raised its full-year profit forecast after third-quarter results topped Wall Street’s expectations, fueled by stronger-than-anticipated sales of cancer blockbuster Keytruda and other newer medicines. The company boosted the lower end of its full-year sales forecast by $500 million and now expects adjusted earnings for the year of $2.77 to $2.82 a share. Sales of Keytruda in both its formulations combined were $8.6 billion, and the company is also developing a growing pipeline of experimental drugs, including a personalized skin cancer vaccine and sacituzumab tirumotecan. - Caterpillar (CAT) shares are moving after it posted quarterly earnings that beat Wall Street expectations as demand for the company's power-generation equipment continued to drive sales. The company's power and energy segment has grown into its largest business by sales, driven by technology companies' need for infrastructure to meet AI's enormous electricity demand. - Microsoft (MSFT) is higher this morning while Google-parent Alphabet (GOOG) is lower after reporting earnings yesterday. Microsoft gained after the software company’s first-quarter results beat expectations on key metrics, including growth in its Azure cloud-computing business. Alphabet, meanwhile, dropped after the Google parent’s third-quarter results featured weaker-than-expected revenue for both Google advertising and search, which offset strong growth in its cloud business. Analysts said the report adds to concerns about AI disrupting search and related businesses. - Marvell Technology (MRVL) shares are moving on news the company is in advanced talks to buy Lumentum, a data center optics maker, according to people familiar with the matter. A transaction may be announced as soon as next week, with Lumentum having a market value of about $83 billion and Marvell worth around $221 billion. See omnystudio.com/listener for privacy information.