Breaking News
Oct 28, 2024
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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.
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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.
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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.
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DexCom declined 3.5% to $72.33 despite the company reporting higher-than-expected quarterly earnings, but slower revenue growth weighed on the stock.
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Deckers Outdoor Corporation jumped 10.7% to $168.28 after the maker of Ugg and Hoka reported sharply higher-than-expected fiscal second quarter earnings and revenue.
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United Parcel Service increased 6.2% to $139.19 after the company reported better-than-expected third quarter earnings and revenue.
Revenue in the third quarter increased 5.6% to $22.3 billion from $21.0 billion, net income advanced 36% to $1.5 billion from $1.1 billion, and diluted earnings per share rose to $1.80 from $1.31 a year earlier.
Domestic revenue increased 5.8% to $14.5 billion, driven by a 6.5% increase in average daily volume.
The company estimated consolidated revenue of $91.1 billion, capital expenditure of $4.0 billion, and dividend payment of about $4.5 billion. -
Lam Research Corporation increased 3% to $75.10 after the advanced semiconductor equipment maker's earnings surpassed market expectations.
Revenue in the third quarter increased 8% to $4.2 billion from $3.9 billion, net income rose to $1.1 billion from $887.4 million, and diluted earnings per share advanced to 8.56 from $6.66 a year earlier.
Of the total sales, China accounted for 37%, followed by Korea with 18%, Taiwan with 15%, the U.S. with 12%, and Japan with 7%.
The company estimated fourth quarter revenue of $4.3 billion with a band of $300 million and post-split net income per diluted share of 87 cents with a band of 10 cents.
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Tesla Inc. jumped 15.6% to $249.57 after the electric vehicle maker reported better-than-expected profit in the third quarter.
Total revenue in the third quarter increased 8% to $25.2 billion from $23.4 billion, net income attributable to shareholders advanced 17% to $2.2 billion from $1.9 billion, and diluted earnings per share rose 9% to 72 cents from 66 cents a year ago.
Vehicle delivery in the quarter increased 6% to 462,890 from 435,059 a year ago. -
Single-family home sales in September increased 6.3% from a year ago to a seasonally adjusted annual rate of 738,000, according to an estimate released by the U.S. Census Bureau.
Home sales rose 4.1% from the previous month, the highest level since May 2023, following a downwardly revised 709,000 in August.
The median price of a new home increased to $426,300 from $426,100, and the average price decreased to $501,000 from $515,000 a year earlier, respectively.
The seasonally adjusted estimate of new houses for sale at the end of September was 470,000, representing a supply of 7.6 months at the current sales rate.
Sales decreased 22.2% in the Northeast to 28,000 and declined 10.9% in the West to 156,000, but rose 14.9% to 77,000 in the Midwest and increased 14.7% to 477,000 in the South.
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Oct 24, 2024