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Nasdaq Drops Over 900 Points as Amazon and Intel Provide Downbeat Outlooks
Stocks suffered a sharp selloff, with the Nasdaq down over 900 points, as downbeat outlooks from Amazon and Intel extended a wider sector selloff amid investor concerns over AI investments. Bitcoin also fell below $70,000 following a reported $6.36B security incident involving Binance, weighing on cryptocurrency-related equities.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Amazonreported lower-than-expected Q3 results and Q4 revenue guidanceIntelreported upbeat Q3 results but provided a worse-than-expected outlook for Q4Crypto exchange Binance suspended withdrawals after crypto hackers stole $6.3B from the companyChevronreported upbeat Q3 earnings and revenue, while Exxon Mobilreported better-than-expected Q3 earnings as wellStarbucksreported mixed Q4 results and provided an upbeat outlook for FY272. WALL STREET CALLS:Inteldowngraded at BofA, Roth Capital and Seaport Research after earningsRivianupgraded to Buy at Jefferies after 30% pullbackFirst Solardowngraded to Hold from Buy at GLJ ResearchWedbush upgraded DoorDashOutperform on consolidation playOppenheimer downgrades Redditto Perform on business model change3. AROUND THE WEB:FordCEO Jim Farley told workers that he is targeting a roughly 20% increase in sales volume by 2032, WSJ reportsCD&R is pursuing a take-private deal for Global Payments, FT reportsNvidiais in talks to provide Nscale with billions of dollars in credit guarantees for debt to develop a 460MW data center that Anthropicplans to use, The Information saysZillowis set to pay $212.5M in cash to settle a class action lawsuit accusing the company of misleading shareholders about its Zillow Offers home-flipping venture, Reuters reportsSpotifyplans to launch a new AI-powered services to allow users to create their own remixes and covers of songs starting early 2027, FT reports4. MOVERS:OneSpangained after reporting Q3 results and raising its outlook for FY26Grid Dynamicsincreased after reporting Q3 results and providing guidance for Q4FMCand CareDxwere higher after reporting quarterly resultsAlphatecwas lower after reporting Q3 results and cutting its guidance for FY26Arbor Realtyand Robloxfell after reporting quarterly results5. EARNINGS/GUIDANCE:AbbViereported Q3 results, with CEO Robert Michael commenting the company "continues to deliver outstanding results"nVentreported Q3 results, provided its outlook for Q4, and raised its guidance for FY26Piper Sandlerreported Q3 results, with EPS and revenue missing consensusCNreported Q3 results and backed its outlook for FY26Dominionreported Q3 results, with EPS beating consensusINDEXES:The Dow fell 572.25, or 1.09%, to 51,770.31, the Nasdaq lost 747.73, or 2.86%, to 25,437.00, and the S&P 500 declined 140.32, or 1.82%, to 7,580.07.
CareDx Stock Rises 23.3% to $88.18
CareDx is up 23.3%, or $16.66 to $88.18.
Nasdaq Plummets Over 600 Points Amid AI Investment Concerns
The major averages were sharply lower, with the Nasdaq down over 600 points, as downbeat outlooks from tech giants Amazon and Intel extend a wider sector selloff amid investor concerns over AI investments. Oil prices remain another source of concern, with the commodity rising 2% as shipping risks intensify in the Strait of Hormuz. Reports of tanker attacks and mines in the region stoked worries about prolonged supply disruptions, keeping energy costs elevated and adding to inflationary pressures. Bitcoin also fell below $70,000 following a reported $6.36B security incident involving Binance, weighing on cryptocurrency-related equities.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Amazonreported lower-than-expected Q3 results and Q4 revenue guidanceIntelreported upbeat Q3 results but provided a worse-than-expected outlook for Q4Crypto exchange Binance suspended withdrawals after crypto hackers stole $6.3B from the companyChevronreported upbeat Q3 earnings and revenue, while Exxon Mobilreported better-than-expected Q3 earnings as wellStarbucksreported mixed Q4 results and provided an upbeat outlook for FY272. WALL STREET CALLS:Inteldowngraded at BofA, Roth Capital and Seaport Research after earningsRivianupgraded to Buy at Jefferies after 30% pullbackFirst Solardowngraded to Hold from Buy at GLJ ResearchWedbush upgraded DoorDashOutperform on consolidation playOppenheimer downgrades Redditto Perform on business model change3. AROUND THE WEB:Meta'sInstagram is offering select creators $50,000 to $500,000 to post long-form videos on its new Features platform as it competes with YouTubefor creator content, Business Insider reportsNvidiais in talks to provide Nscale with billions of dollars in credit guarantees for debt to develop a 460MW data center that Anthropicplans to use, The Information saysZillowis set to pay $212.5M in cash to settle a class action lawsuit accusing the company of misleading shareholders about its Zillow Offers home-flipping venture, Reuters reportsFoxconnis working on a collaboration with OpenAI, Reuters saysSpotifyplans to launch a new AI-powered services to allow users to create their own remixes and covers of songs starting early 2027, FT reports4. MOVERS:OneSpangains after reporting Q3 results and raising its outlook for FY26Grid Dynamicsincreases after reporting Q3 results and providing guidance for Q4FMCand CareDxhigher after reporting quarterly resultsAlphateclower after reporting Q3 results and cutting its guidance for FY26Arbor Realtyand Robloxfall after reporting quarterly results5. EARNINGS/GUIDANCE:AbbViereported Q3 results, with CEO Robert Michael commenting the company "continues to deliver outstanding results"nVentreported Q3 results, provided its outlook for Q4, and raised its guidance for FY26Piper Sandlerreported Q3 results, with EPS and revenue missing consensusCNreported Q3 results and backed its outlook for FY26Dominionreported Q3 results, with EPS beating consensusINDEXES:Near midday, the Dow was down 376.47, or 0.72%, to 51,966.09, the Nasdaq was down 656.96, or 2.51%, to 25,527.77, and the S&P 500 was down 120.71, or 1.56%, to 7,599.68.
CareDx Stock Rises 24.4% to $89.00
CareDx is up 24.4%, or $17.48 to $89.00.
Amazon Q3 Earnings Miss Estimates, Shares Down 7%
An earnings flop out of Alphabetovernight weighed heavily on sentiment in Tech and Communication Services, sending S&P 500 down on Thursday, even though 7 out of its 11 sectors were higher. The benchmark index fell for the first time after three consecutive gaining sessions, and Friday's trading is on track to sustain an AI-weary negative tone.Amazon.comis down 7% afterhours as Q3 earnings and revenue came in shy of estimates while its management maintained its hefty 2026 capex course of $220B. Even more troubling were the results out of Intel, where in-line Q3 was accompanied by a much weaker outlook for Q4 and a warning that the PC slowdown cycle is continuing through at least the first half of 2027. Shares of the semiconductor giant are down a whopping 23% afterhours, with traders also selling other chipmakers and PC manufacturers like HP and Dell.In the opening hour of the evening session, S&P e-minis are down 0.7% following the results out of these tech giants. Nasdaq 100 futures are down by a predictably greater magnitude of 1.6%, and the second consecutive sharp retreat has the contract on track to erase all of the gains made on Monday through Wednesday. Nasdaq 100 is also trading within a percentage point of the lowest levels since the first week of August below 28,900.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHR AFTER EARNINGS -CareDxup 15.7%Mondelez Internationalup 7.3%Rivian Automotiveup 5.1%OSI Systemsup 4.5%The RealRealup 3.5%Gilead Sciencesup 2.6%DOWN AFTER EARNINGS -Inteldown 23.3%; AMDdown 6.5%, ARM Holdingdown 7.8%, Maxlineardown 6.2%, Hewlett Packarddown 7.6%, Delldown 6.9%Redditdown 18.2%Robloxdown 17.0%Illuminadown 12.4%Strykerdown 11.8%Pinterestdown 7.9%Amazon.comdown 6.9%Sandiskdown 4.5%Starbucksdown 1.9%
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