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    • Breaking News
    Oct 30, 2024
    • Alphabet Inc. Class A increased 6.3% to $180.40 after the search and cloud computing company reported better-than-expected revenue growth. 

      Consolidated revenue in the third quarter increased 15% to $88.3 billion from $76.7 billion, net income advanced to $26.3 billion from $19.7 billion, and diluted earnings per share rose to $2.12 from $1.55 a year ago. 

      The company said cloud segment revenue increased 35% to $11.4 billion, led by accelerated growth in its core products and artificial intelligence-driven products and services. 
      • Oct 29, 2024
      • HSBC Holdings increased 4.3% to $47.12 after the UK- and Hong Kong-based bank reported rising revenue and earnings in the September quarter. 

        Revenue increased 5% to $17.21 billion from $16.7 billion, and net income advanced 8% to $6.7 billion from $6.2 billion a year ago, respectively. 

        The largest European bank also announced a stock repurchase plan of $3 billion. 
        • Cadence Design Systems jumped 10.5% to $279.24 after the chip design software company reported better-than-expected quarterly results. 

          Revenue in the third quarter increased to $1.21 billion from $1.02 billion, net income decreased to $238.1 million from $254.3 million, and diluted earnings per share fell to 87 cents from 94 cents a year ago. 

          The company reiterated its full-year 2024 revenue to range between $4.61 billion and $4.65 billion and diluted net income per share between $3.70 and $3.76. 
          • D.R. Horton plunged 9.6% to $163.05 after the homebuilder reported weaker-than-expected quarterly results. 

            Revenue in the fiscal fourth quarter ending in September declined to $10.0 billion from $10.5 billion, net income fell to $1.3 billion from $1.5 billion, and diluted earnings per share dropped to $3.92 from $4.45 a year ago. 

            The homebuilder offered weak annual revenue and unit home sale outlook as buyers struggle with affordability issues.

            The company estimated fiscal year 2025 revenue between $36 billion and $37.5 billion, home completions between 90,000 and 92,000 units, stock repurchase of $2.4 billion, and dividend payment of $500 million. 
            • McDonald's increased 0.7% to $299.07 after the fast food chain reported better-than-expected quarterly results. 

              Consolidated revenue in the third quarter increased 3% to $6.9 billion from $6.7 billion, net income fell 3% to $2.25 billion from $2.32 billion, and earnings per share fell 1% to $3.13 from $3.17 a year ago. 

              Global comparable sales declined 1.5% in the quarter, but sales in the U.S. rose 0.5%. 

              However, the latest E. coli outbreak in 13 states linked to the company's Quarter Pounder burger is likely to dent sales in the current quarter. 
              • Oct 28, 2024
              • Boeing declined 1.3% to $153.08 after the embattled aviation company launched an offering to raise as much as $19 billion. 

                The company is looking to sell 90 million shares and $5 billion of mandatory convertible securities. 

                The commercial plane maker and defense contractor has struggled to stem cash outflow after 33,000 workers struck in September, halting production, including popular 737 Max aircraft. 
                • McDonald's Corp. decreased 2.7% to $299.0 after the company ruled out the outbreak of E. coli linked to the company's Quarter Pounders. The company said it plans to resume selling quarter pounders at impacted restaurants as early as this week. 
                  • ON Semiconductor Corp. decreased 0.4% to $70.94 despite the advanced chipmaker for automobile and industrial systems reporting higher sales and earnings in its latest quarter. 
                    • Oct 25, 2024
                    • Tapestry Inc. increased 13.9% to $50.63, and Capri Holdings declined 47% to $22.09 after a federal judge blocked a merger between the two fashion companies. 
                      • DexCom declined 3.5% to $72.33 despite the company reporting higher-than-expected quarterly earnings, but slower revenue growth weighed on the stock.