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    • Breaking News
    Oct 31, 2024
    • Carvana Co. jumped 20.4% to $249.39 after the used car dealer reported sharply higher sales and earnings. 

      The company also lifted its full-year earnings outlook, and added results are expected to surpass the high end of its previous estimate. 
      • Microsoft Corp. declined 4.8% to $411.89 after the software company reported strong quarterly results, but the company's revenue outlook for the current quarter fell short of investor expectations. 

        Microsoft estimated revenue in the fiscal second quarter to range between $68.1 billion and $69.1 billion.
        • Oct 30, 2024
        • Advanced Micro Devices dropped 8.9% to $151.43 after the company's quarterly results and guidance fell short of investor expectations. 

          Third quarter revenue increased 18% to $6.8 billion from $5.8 billion, net income advanced 158% to $771 million from $299 million, and diluted earnings per share rose to 47 cents from 18 cents a year ago. 

          The company estimated a fourth quarter revenue increase of 22% from a year ago to $7.5 billion and a non-GAAP gross margin of 54%. 
          • Super Micro Computer plunged 31% to $33.95 after the company's auditors, Ernst & Young, resigned, citing material weakness in internal control. 

            The company has still not released its financial statements for this year, and the company is reportedly under federal investigation. 

            “We are resigning due to information that has recently come to our attention, which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” Ernst & Young said in their resignation letter. 
            • Chipotle Mexican Grill declined 7% to $56.24 after the fast food chain operator reported weaker-than-expected same store sales growth and revenue in the third quarter. 

              Third quarter revenue increased 13% to $2.8 billion from $2.5 billion, net income advanced to $387.4 million from $313.2 million, and diluted earnings per share rose to 28 cents from 23 cents a year ago. 

              Same-store sales growth in the quarter slowed sharply to 6% from 11.2% in the previous quarter. 

              During the third quarter, the company repurchased $488.1 million of stock at an average price per share of $54.55, and $1.1 billion remained available at the end of the period. 
              • 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.