All three major US stock indexes were up in late-morning trading on Tuesday as Americans go to the polls to vote on the next president of the United States.
In company news, Boeing (BA) reached an agreement with its striking workers Monday, as members of the International Association of Machinists and Aerospace Workers Districts 751 and W24 ratified a new contract, the union said in a statement. The roughly 33,000 striking Boeing workers accepted the company's new offer, which will increase wages by 38% over four years and give workers a $12,000 ratification bonus. Boeing shares were down 0.8% near noon.
Palantir Technologies (PLTR) reported Q3 adjusted earnings late Monday of $0.10 per share, up from $0.07 a year earlier and above the Capital IQ consensus estimate of $0.09. Third-quarter revenue was $725.5 million, up from $558.2 million in the year-ago period and above the Capital IQ consensus of $703.7 million. The company expects Q4 revenue in a range of $767 million to $771 million. Analysts surveyed by Capital IQ expect $744 million. Palantir also raised its full-year revenue guidance to a range of $2.805 billion to $2.809 billion from its previous guidance of $2.742 billion to $2.75 billion. Palantir shares were up 22.8%.
Apollo Global Management (APO) reported Q3 adjusted net income Tuesday of $1.81 per share, up from $1.59 a year earlier and above the Capital IQ consensus analyst estimate of $1.72. Third-quarter revenue was $7.77 billion, up from $2.60 billion a year earlier. Apollo shares were up 6.4%.
Ferrari (RACE) reported Q3 earnings Tuesday of 2.08 euros ($2.27) per share, up from 1.82 euros a year earlier and above the Capital IQ consensus estimate of 2.02 euros. Third-quarter net revenue was 1.64 billion euros, up from 1.54 billion euros in the year-ago period but below the Capital IQ consensus of 1.65 billion euros. Ferrari shares were down 7.2%.
Vertex Pharmaceuticals (VRTX) reported Q3 non-GAAP net income late Monday of $4.38 per diluted share, up from $4.08 a year earlier and above the Capital IQ consensus estimate of $4.13. Third-quarter product revenue was $2.77 billion, up from $2.48 billion in the year-ago period and above the Capital IQ consensus of $2.69 billion. Vertex now expects fiscal 2024 revenue in a range of $10.8 billion to $10.9 billion, up from previous guidance of $10.65 billion to $10.85 billion. Vertex shares were up 4.4%.
Kroger (KR) has finalized a $1.37 billion settlement with a coalition of 30 state attorneys general over the grocer's alleged role in the US opioid crisis, several state attorneys general said Monday. Kroger will be subject to injunctive relief that will require monitoring and sharing data related to suspicious opioid activity across its pharmacies, according to the settlement. Kroger shares were up 1.5%.
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