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2023-10-27

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Post-Bell | Nasdaq Drops 1.8%; Microsoft, Tesla, Meta and Nvidia Tumble More Than 3%

U.S. stocks tumbled on Thursday, dragged by tech and tech-adjacent megacap shares as investors digested mixed quarterly earnings and signs of economic resiliency that could encourage the Federal Reser

Post-Bell | Nasdaq Drops 1.8%; Microsoft, Tesla, Meta and Nvidia Tumble More Than 3%

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The stock rose 4.9%.</p><p><strong>United Parcel Service (UPS)</strong> dropped 5.9% after third-quarter revenue missed analysts’ estimates and the shipping company reduced its fiscal-year revenue outlook.</p><p><strong>Comcast (CMCSA)</strong> fell 8.4%. Third-quarter earnings topped Wall Street forecasts but the company lost 18,000 domestic broadband customers in the period. Subscribers to its video business also fell.</p><p><strong>ServiceNow (NOW)</strong> posted better-than-expected third-quarter adjusted earnings and raised its full-year financial guidance. The IT workflow-management software company said it has continued to add generative artificial intelligence across its product line. Shares rose 3.9%.</p><p><strong>Align Technology (ALGN)</strong> fell 24.9% after the maker of Invisalign orthodontic aligners reported third-quarter adjusted earnings and revenue that missed analysts’ estimates. The company said the results reflected “lower-than-expected demand and a more difficult macro environment than we experienced in the first half of 2023.”</p><p><strong>Whirlpool (WHR)</strong> fell 15.8% after revised earnings guidance from the appliance maker and margin concerns outweighed a quarterly earnings beat.</p><p><strong>Endeavor Group (EDR)</strong> jumped 25.6% after private-equity firm Silver Lake said it was looking to take the sports and entertainment company private. Silver Lake owns about 71% of Endeavor’s voting stake.</p><p><strong>Mattel‘s (MAT)</strong> third-quarter earnings beat expectations and the toy maker raised its profit forecast for the fiscal year. Sales in the third quarter rose 9% to $1.92 billion, driven by growth in its dolls segment, such as Barbie and Disney Princess dolls. The stock, however, dropped 7.6% after Mattel warned of slowing demand as it enters the holiday season.</p><p>Fellow toy maker <strong>Hasbro (HAS)</strong> declined 11.7%. The company’s third-quarter earnings and revenue missed analyst expectations and Hasbro slashed its full-year outlook.</p><p><strong>Bristol Myers Squibb (BMY)</strong> posted third-quarter earnings and revenue that beat Wall Street estimates but sales of cancer-fighting drug Revlimid fell during the period. The stock was down 6.4%.</p><p><strong>Sunnova Energy International (NOVA)</strong> was up 16.2% after the residential and commercial solar energy company said it has taken “several actions to increase corporate liquidity” that have lowered its capital needs in 2024 to zero from an anticipated $500 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0875169078ab8d294df213914355d9ab\" tg-width=\"1080\" tg-height=\"1920\"/></p><h2 id=\"id_2336334682\">Market News</h2><h3 id=\"id_929468318\">Amazon Posts Strong Revenue, Profit on Web Sales, Cost Cuts</h3><p>Amazon.com Inc. reported revenue and profit that topped analysts’ estimates, buoyed by rising sales in its retail unit and significant cost cutting.</p><p style=\"text-align: start;\">While sales growth in the cloud computing unit fell just short of projections, Chief Executive Officer Andy Jassy reassured investors on a conference call that the business had stabilized and said the company inked a number of deals that took effect early in the current quarter. The shares gained about 4.8% in extended trading on his comments.</p><p>Amazon projected sales of $160 billion to $167 billion in the quarter ending in December, compared with analysts’ average estimate of $166.6 billion, according to data compiled by Bloomberg. Operating income will be $7 billion to $11 billion in the period. Analysts, on average, projected $8.71 billion.</p><h3 id=\"id_4024856203\">Intel Forecast Beats Expectation As Manufacturing Momentum Builds</h3><p>Intel forecast fourth-quarter revenue above Wall Street estimates on Thursday, optimistic about a healthy rebound in the personal computer market as it readies new chips to handle artificial intelligence on laptops.</p><p style=\"text-align: start;\">The company also has secured three customers for its chip contract manufacturing business, with Chief Executive Pat Gelsinger telling Reuters he expects to close a deal for a fourth customer before year&#39;s end.</p><p>Shares of the Santa Clara, California-based company rose as much as 7.9% after the closing bell.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Post-Bell | Nasdaq Drops 1.8%; Microsoft, Tesla, Meta and Nvidia Tumble More Than 3%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; 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color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPost-Bell | Nasdaq Drops 1.8%; Microsoft, Tesla, Meta and Nvidia Tumble More Than 3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-10-27 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks tumbled on Thursday, dragged by tech and tech-adjacent megacap shares as investors digested mixed quarterly earnings and signs of economic resiliency that could encourage the Federal Reserve to keep interest rates at a restrictive level longer than expected.</p><p>Big tech stocks dropped with Microsoft, Tesla, Meta and Nvidia down more than 3%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ab4dc87faa52bd944a59b11d1c70b74\" title=\"\" tg-width=\"392\" tg-height=\"599\"/></p><h2 id=\"id_3626619824\">Market Snapshot</h2><p>The Dow Jones Industrial Average fell 251.63 points, or 0.76%, to 32,784.3, the S&amp;P 500 lost 49.54 points, or 1.18%, to 4,137.23 and the Nasdaq Composite dropped 225.62 points, or 1.76%, to 12,595.61.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bd42245e1a0cd389152c3dfea9e603d6\" title=\"\" tg-width=\"395\" tg-height=\"194\"/></p><h2 id=\"id_3350154466\">Market Movers</h2><p><strong>Meta Platforms (META)</strong> posted third-quarter earnings that beat analysts’ expectations but shares of the parent company of Facebook and Instagram fell 3.7% after a warning from the company’s chief financial officer about weaker advertising demand so far in the fourth quarter. </p><p>Third-quarter earnings at <strong>International Business Machines (IBM)</strong> edged Wall Street estimates, and the company’s CEO said IBM’s push into artificial intelligence was starting to pay off. The stock rose 4.9%.</p><p><strong>United Parcel Service (UPS)</strong> dropped 5.9% after third-quarter revenue missed analysts’ estimates and the shipping company reduced its fiscal-year revenue outlook.</p><p><strong>Comcast (CMCSA)</strong> fell 8.4%. Third-quarter earnings topped Wall Street forecasts but the company lost 18,000 domestic broadband customers in the period. Subscribers to its video business also fell.</p><p><strong>ServiceNow (NOW)</strong> posted better-than-expected third-quarter adjusted earnings and raised its full-year financial guidance. The IT workflow-management software company said it has continued to add generative artificial intelligence across its product line. Shares rose 3.9%.</p><p><strong>Align Technology (ALGN)</strong> fell 24.9% after the maker of Invisalign orthodontic aligners reported third-quarter adjusted earnings and revenue that missed analysts’ estimates. The company said the results reflected “lower-than-expected demand and a more difficult macro environment than we experienced in the first half of 2023.”</p><p><strong>Whirlpool (WHR)</strong> fell 15.8% after revised earnings guidance from the appliance maker and margin concerns outweighed a quarterly earnings beat.</p><p><strong>Endeavor Group (EDR)</strong> jumped 25.6% after private-equity firm Silver Lake said it was looking to take the sports and entertainment company private. Silver Lake owns about 71% of Endeavor’s voting stake.</p><p><strong>Mattel‘s (MAT)</strong> third-quarter earnings beat expectations and the toy maker raised its profit forecast for the fiscal year. Sales in the third quarter rose 9% to $1.92 billion, driven by growth in its dolls segment, such as Barbie and Disney Princess dolls. The stock, however, dropped 7.6% after Mattel warned of slowing demand as it enters the holiday season.</p><p>Fellow toy maker <strong>Hasbro (HAS)</strong> declined 11.7%. The company’s third-quarter earnings and revenue missed analyst expectations and Hasbro slashed its full-year outlook.</p><p><strong>Bristol Myers Squibb (BMY)</strong> posted third-quarter earnings and revenue that beat Wall Street estimates but sales of cancer-fighting drug Revlimid fell during the period. The stock was down 6.4%.</p><p><strong>Sunnova Energy International (NOVA)</strong> was up 16.2% after the residential and commercial solar energy company said it has taken “several actions to increase corporate liquidity” that have lowered its capital needs in 2024 to zero from an anticipated $500 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0875169078ab8d294df213914355d9ab\" tg-width=\"1080\" tg-height=\"1920\"/></p><h2 id=\"id_2336334682\">Market News</h2><h3 id=\"id_929468318\">Amazon Posts Strong Revenue, Profit on Web Sales, Cost Cuts</h3><p>Amazon.com Inc. reported revenue and profit that topped analysts’ estimates, buoyed by rising sales in its retail unit and significant cost cutting.</p><p style=\"text-align: start;\">While sales growth in the cloud computing unit fell just short of projections, Chief Executive Officer Andy Jassy reassured investors on a conference call that the business had stabilized and said the company inked a number of deals that took effect early in the current quarter. The shares gained about 4.8% in extended trading on his comments.</p><p>Amazon projected sales of $160 billion to $167 billion in the quarter ending in December, compared with analysts’ average estimate of $166.6 billion, according to data compiled by Bloomberg. Operating income will be $7 billion to $11 billion in the period. Analysts, on average, projected $8.71 billion.</p><h3 id=\"id_4024856203\">Intel Forecast Beats Expectation As Manufacturing Momentum Builds</h3><p>Intel forecast fourth-quarter revenue above Wall Street estimates on Thursday, optimistic about a healthy rebound in the personal computer market as it readies new chips to handle artificial intelligence on laptops.</p><p style=\"text-align: start;\">The company also has secured three customers for its chip contract manufacturing business, with Chief Executive Pat Gelsinger telling Reuters he expects to close a deal for a fourth customer before year&#39;s end.</p><p>Shares of the Santa Clara, California-based company rose as much as 7.9% after the closing bell.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CMCSA":"康卡斯特",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","NOVA":"Sunnova Energy International Inc.","META":"Meta Platforms",".SPX":"S&P 500 Index","MAT":"美国美泰公司","EDR":"奋进集团","IBM":"IBM","UPS":"联合包裹","HAS":"孩之宝","ALGN":"艾利科技","WHR":"惠而浦","BMY":"施贵宝","NOW":"ServiceNow"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115087046","content_text":"U.S. stocks tumbled on Thursday, dragged by tech and tech-adjacent megacap shares as investors digested mixed quarterly earnings and signs of economic resiliency that could encourage the Federal Reserve to keep interest rates at a restrictive level longer than expected.Big tech stocks dropped with Microsoft, Tesla, Meta and Nvidia down more than 3%.Market SnapshotThe Dow Jones Industrial Average fell 251.63 points, or 0.76%, to 32,784.3, the S&P 500 lost 49.54 points, or 1.18%, to 4,137.23 and the Nasdaq Composite dropped 225.62 points, or 1.76%, to 12,595.61.Market MoversMeta Platforms (META) posted third-quarter earnings that beat analysts’ expectations but shares of the parent company of Facebook and Instagram fell 3.7% after a warning from the company’s chief financial officer about weaker advertising demand so far in the fourth quarter. Third-quarter earnings at International Business Machines (IBM) edged Wall Street estimates, and the company’s CEO said IBM’s push into artificial intelligence was starting to pay off. The stock rose 4.9%.United Parcel Service (UPS) dropped 5.9% after third-quarter revenue missed analysts’ estimates and the shipping company reduced its fiscal-year revenue outlook.Comcast (CMCSA) fell 8.4%. Third-quarter earnings topped Wall Street forecasts but the company lost 18,000 domestic broadband customers in the period. Subscribers to its video business also fell.ServiceNow (NOW) posted better-than-expected third-quarter adjusted earnings and raised its full-year financial guidance. The IT workflow-management software company said it has continued to add generative artificial intelligence across its product line. Shares rose 3.9%.Align Technology (ALGN) fell 24.9% after the maker of Invisalign orthodontic aligners reported third-quarter adjusted earnings and revenue that missed analysts’ estimates. The company said the results reflected “lower-than-expected demand and a more difficult macro environment than we experienced in the first half of 2023.”Whirlpool (WHR) fell 15.8% after revised earnings guidance from the appliance maker and margin concerns outweighed a quarterly earnings beat.Endeavor Group (EDR) jumped 25.6% after private-equity firm Silver Lake said it was looking to take the sports and entertainment company private. Silver Lake owns about 71% of Endeavor’s voting stake.Mattel‘s (MAT) third-quarter earnings beat expectations and the toy maker raised its profit forecast for the fiscal year. Sales in the third quarter rose 9% to $1.92 billion, driven by growth in its dolls segment, such as Barbie and Disney Princess dolls. The stock, however, dropped 7.6% after Mattel warned of slowing demand as it enters the holiday season.Fellow toy maker Hasbro (HAS) declined 11.7%. The company’s third-quarter earnings and revenue missed analyst expectations and Hasbro slashed its full-year outlook.Bristol Myers Squibb (BMY) posted third-quarter earnings and revenue that beat Wall Street estimates but sales of cancer-fighting drug Revlimid fell during the period. The stock was down 6.4%.Sunnova Energy International (NOVA) was up 16.2% after the residential and commercial solar energy company said it has taken “several actions to increase corporate liquidity” that have lowered its capital needs in 2024 to zero from an anticipated $500 million.Market NewsAmazon Posts Strong Revenue, Profit on Web Sales, Cost CutsAmazon.com Inc. reported revenue and profit that topped analysts’ estimates, buoyed by rising sales in its retail unit and significant cost cutting.While sales growth in the cloud computing unit fell just short of projections, Chief Executive Officer Andy Jassy reassured investors on a conference call that the business had stabilized and said the company inked a number of deals that took effect early in the current quarter. The shares gained about 4.8% in extended trading on his comments.Amazon projected sales of $160 billion to $167 billion in the quarter ending in December, compared with analysts’ average estimate of $166.6 billion, according to data compiled by Bloomberg. Operating income will be $7 billion to $11 billion in the period. Analysts, on average, projected $8.71 billion.Intel Forecast Beats Expectation As Manufacturing Momentum BuildsIntel forecast fourth-quarter revenue above Wall Street estimates on Thursday, optimistic about a healthy rebound in the personal computer market as it readies new chips to handle artificial intelligence on laptops.The company also has secured three customers for its chip contract manufacturing business, with Chief Executive Pat Gelsinger telling Reuters he expects to close a deal for a fourth customer before year's end.Shares of the Santa Clara, California-based company rose as much as 7.9% after the closing bell.","news_type":1},"isVote":1,"tweetType":1,"viewCount":71,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":18,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}