The Biggest S&P 500 Movers on Tuesday

1 hour 45 minutes ago

Advancers

  • Shares of Cadence Design Systems (CDNSThe electronic design automation firm rose 12.5 percent on Tuesday to cap the best daily performance of any S&P 500 stock after it posted better-than-expected quarterly results and raised its full-year guidance. Revenue from the company’s Cadence.AI portfolio, which leverages creative AI and big data analysis in the design process, more than tripled year over year.
  • Although Incyte (INCY) reported third-quarter profit that fell short of analysts’ forecasts, the pharma company’s revenue beat expectations for the period, and its shares rose 12.0%. Incyte said both of its key products — cancer drug Jacafi and topical eczema treatment Opzelura — enjoyed strong demand and sales trends during the period.
  • Application delivery company F5 (FFIV) beat quarterly sales and profit for its fiscal fourth quarter, and its shares rose 10.1 percent. F5’s CEO pointed to the company’s shift from a hardware focus to a security and software solutions provider that is better suited to today’s hybrid and cloud-based technological environment.
  • Leidos Holdings (LDOS) shares rose 9.5% after the IT services provider beat consensus estimates with its third-quarter sales and profit results. Strong bookings figures for the quarter also suggest Leidos is poised for additional growth, and the company raised its full-year outlook. Major US defense contract wins contributed to solid performance and an upbeat forecast.

Those who refuse

  • Tool maker’s shares Stanley Black & Deckr (SWK) fell 8.8 percent, the biggest drop in the S&P 500 Quarterly update under effect. The company said weak consumer demand and the auto industry weighed on its performance, leading to a drop in quarterly sales and profit. Tuesday’s decline put Stanley Black & Decker in the negative for 2024.
  • Ford Motor (FShares fell 8.4 percent on Tuesday after the automaker’s report. Lower-than-expected third-quarter profit. After the earnings miss, JPMorgan and Bank of America lowered their price targets on Ford stock. However, analysts pointed to some reasons for optimism, noting that higher warranty costs contributed to the decline in profits and undermining the potential of the Ford Pro division.
An F-150 truck passes the assembly line at the Ford Dearborn plant on April 11, 2024 in Dearborn, Michigan.

Bill Pagliano/Getty Images


  • A home builder DR Horton (DHI) reported. Year-over-year decline in revenue and net incomeLower than estimates on the top and bottom lines. The company also issued lower-than-expected full-year sales guidance, indicating it sees pressure from potential homebuyers holding out for low mortgage rates. Shares of DR Horton fell 7.2 percent.

Michael Bromberg

Alphabet stock pops in extended trade after earnings report

2 hours 6 minutes ago

Google Parent Alphabet (Google) reported third-quarter results that topped analysts’ estimates, sending shares higher after a bull on Tuesday.

Alphabet’s third-quarter revenue rose 15% year-over-year to $88.27 billion, beating the analyst consensus from Visible Alpha. Net income came in at $26.3 billion, or $2.12 per share, from $19.69 billion, or $1.55 per share, a year earlier, beating Street estimates.

Google Cloud delivered $11.4 billion in revenue, which exceeded analysts’ expectations and represented 35% demand-driven growth from the year-ago period. Artificial Intelligence (AI) Augmented Google Cloud’s AI infrastructure and generative AI solutions evolved alongside other core cloud products.

Alphabet shares rose 5 percent in extended trading after the release. They were up about 22 percent for the year as of Tuesday’s close.

Andrew Castle

AMD stock slides after hours as profit misses expectations

2 hours 13 minutes ago

Advanced microdevices (AMD) reported third-quarter earnings that missed expectations, sending shares lower after the closing bell on Tuesday.

The chipmaker’s third-quarter revenue rose 18 percent year-over-year to $6.82 billion, beating the Visible Alpha analyst consensus. Net income at $771 million, or 47 cents per share, was up from $299 million, or 18 cents per share, a year earlier, but below Street estimates as prices rose.

AMD’s revenue surged as data center sales more than doubled to a recent high of $3.5 billion, driven by demand for the company’s AI chips.

Earlier this month, AMD launched its next-generation AI chips. Advancing the AI ​​event But it did not expand its AI sales outlook or announce new customers. As many investors had hoped.weight on its stock price.

AMD CEO Lisa Su speaks during the Computex conference on June 3, 2024 in Taipei.

Annabelle Cheah/Bloomberg/Getty Images


AMD said Tuesday it expects fourth-quarter revenue to come in between $7.2 billion and $7.8 billion, up from $6.2 billion in the year-ago quarter. Analyst consensus was at the high end of that range at $7.6 billion, according to Visible Alpha.

Shares of AMD fell more than 7% in extended trading on Tuesday following the release.

Andrew Castle

Bitcoin’s price surged past $73,000, near a record high

3 hours 17 minutes ago

Bitcoin (BTCUSD) traded above $73,000 on Tuesday for the first time since March, gaining traction beyond that. US presidential election As investors poured billions into spot bitcoin exchange-traded funds.

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Speed ​​brings the most trade. cryptocurrency Within striking distance of its all-time high of $73,798 set earlier this year. It also boosted shares of MicroStrategy (M.S.T.R) Tuesday — which held more than 252,000 bitcoins on its books as of Sept. 19 — hit a 52-week high of $267.89.

Shares of other Bitcoin-related companies, including Coinbase Global (COIN) and Marathon Digital’s parent company Mara Holdings (hit) and riot platforms (Riots) were also high. MicroStrategy and Coinbase report total revenue.

Bitcoin Trading Activity As Election Day Approaches Former President Donald Trump, the Republican nominee, and Democratic Vice President Kamala Harris have both made efforts. Engage with the crypto community.: Trump embraced crypto earlier this year after much skepticism, while Harris has discussed his approach in recent months.

From October 11, Spot Bitcoin ETF According to data from Foresight Investors, net inflows of around $4 billion have been received with just one day. Spot Bitcoin ETFs Hold bitcoin, and rising demand for the product was partly responsible for pushing bitcoin to all-time highs earlier this year.

Mrinalani Krishna.

Crocs stock is a mess as weak Heydude sales persist.

4 hours 38 minutes ago

Crocs, Inc. shares of (CrocsThe company’s third-quarter earnings fell on Tuesday after being overshadowed by weak sales of its smaller Heydude brand.

The footwear company reported $1.06 billion. IncomeAbove estimates compiled by Visible Alpha, while profit It also beat estimates of $199.8 million by $187.3 million.

Investors’ concerns seemed to be allayed. Heydude shoe saleA company Crocs acquired in 2022.

Heydude’s revenue fell short of estimates of $204 million, and the company also updated full-year estimates, expecting Heydude’s sales to fall by a larger margin than previously reported.

CEO Andrew Rees said Crocs has seen positive results from its investment in new. Marketing for the brand, but noted that Heydude’s “recent performance and the current operating environment indicate that it will take longer than we initially planned to turn a corner for the brand. “

The company said it expects fourth-quarter revenue to be up slightly year-over-year, as Crocs’ 2% revenue growth will likely be offset by a 4% to 6% decline in Heydude sales.

Crocs shares were down 19% late Tuesday, trading at their lowest level since February.

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Aaron McDaid

Stanley Black & Decker collapses after weak earnings

6 hours 52 minutes ago

Stanley Black & Decker (SWK) shares sank as the toolmaker posted worse-than-expected results and cut its guidance, citing falling consumer demand and a slowdown in the auto sector.

The company reported lower earnings per share in the third quarter (EPS) of $0.60, revenue fell 5.1% to $3.75 billion. Analysts surveyed by Visible Alpha were looking for $0.87 and $3.80 billion, respectively.

Sales in the Tools & Outdoor division fell 3% to $3.26 billion as volume fell on the back of weaker consumers and do-it-yourself (DIY) growth. Sales in the industrial unit fell 18% to $488 million due to what the company called “market softening in automotive.”

Stanley Black & Decker now sees adjusted EPS in the range of $3.90 to $4.30, compared to its previous outlook of $3.70 to $4.50.

Shares of Stanley Black & Decker were down 8% in afternoon trade, falling into negative territory for the year.

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Bill McCall

DR Horton Tumbles on Weak Results, Outlook

8 hours 25 minutes ago

Shares of homebuilder DR Horton (DHI) drowned on Tuesday morning to lead the S&P 500 Both the company’s quarterly results and fiscal 2025 estimates fell short of analyst expectations.

For the fourth quarter of fiscal 2024, DR Horton reported $10.00 billion. IncomeThat’s down from $10.50 billion at the same time last year and below the $10.22 billion consensus estimate from analysts compiled by Visible Alpha. The homebuilder reported $1.28 billion. Net incomeThat was down from $1.51 billion and below the $1.37 billion analysts expected.

By D. R. Horton Outlook for FY 2025 Earnings also fell short of analysts’ estimates. The company said it expected revenue between $36 billion and $37.5 billion, which was lower than expectations of $39.39 billion.

Executive Chairman David Auld said sales were lower than the company expected in the quarter. “While mortgage rates have fallen from them. Earlier this yearmany potential homebuyers expect rates to drop in 2025,” said Auld.

Shares in DR Horton were down 10%, trading at their lowest level since July.

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Aaron McDaid

Ford Stock After Earnings Slides—Key Levels to Watch

10 hours 54 minutes ago

Shares in Ford (FThe automaker was down 7 percent in premarket trading late Monday after the automaker reported third-quarter profit that fell short of Wall Street expectations and Trim your full-year outlook..

The stock has consolidated within an ascending triangle, a chart pattern that can signal a downward move if formed within an established downtrend.

Source: TradingView.com.

Investors should look for key support levels on Ford’s chart around $9.50, $8.70, and $7.50. A breakout above key resistance at $11.30 could act as a catalyst for a bullish reversal.

Read the full Technical analysis piece here.

Timothy Smith

Futures point to lower open for major indices

11 hours 24 minutes ago

Futures linked to the Dow Jones Industrial Average were down 0.4 percent.

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S&P 500 futures were down less than 0.2%.

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Nasdaq 100 futures were down 0.1 percent.

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