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S&P 500 Earnings Expected to Grow 30% in Q3
Stocks had a flattish session as investors digested earnings reports from big banks, as well as other major names like UnitedHealth and Domino's Pizza. Analysts expect S&P 500 earnings to grow 30% year-over-year in the third quarter, according to LSEG data. Meanwhile, Federal Reserve Bank of New York President John Williams told Bloomberg in an interview that it "may be appropriate to have one more rate hike."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Big banks kicked off earnings season, with Citiand Goldman Sachsposting upbeat results, Wells Fargoreporting mixed quarterly results, and JPMorganreporting lower-than-expected Q3 earnings and revenueUnitedHealthprovided a "beat and raise" report for Q3Johnson & Johnsonalso provided a "beat and raise" report for Q3Domino's Pizzareported better-than-expected Q3 earnings and revenueAppleintroduced the Apple Home Collection lineup of smart home accessories, as well as a new 4K Apple TV and Apple HomeView2. WALL STREET CALLS:VF Corp.upgraded to Buy at Truist and to Overweight at Piper SandlerPershing Square Inc.downgraded to Underperform from Neutral at BofAViking Holdingsupgraded to Overweight at BarclaysSecuritizedowngraded to Neutral at CitiAdobedowngraded to Hold at HSBC3. AROUND THE WEB:Boeingis set to begin deliveries of 737 Max aircraft to Japan's All Nippon Airways in December, Nikkei Asia reportsTake-Two'sRockstar intends to release a PC version of "Grand Theft Auto VI" during the first quarter of 2027, GamesBeat reportsTencenttold investors its planned bond offering of $5B will finance AI-related expenditures, Bloomberg saysKrogeranticipates a reduction of over one-third of its corporate headcount, eliminating about 3,000 roles across various functions over the next 3 years, Bloomberg reportsEpic Games has postponed the release of an upcoming video game collaboration with Disneyand has told its developers to use more AI tools to complete the game, Bloomberg says4. MOVERS:Bumblegained after announcing it will be acquired by Ithaca for $6.05 per share in cashFermirose after signing a credit support agreement with AMDBigBear.aiwas higher after securing more than $225M in contract awardsSyndaxwas lower after announcing its idiopathic pulmonary fibrosis study did not meet its endpointSix Flagsfell after one park visitor died and four others were injured at Six Flags Over Georgia5. EARNINGS/GUIDANCE:Unity Bancorpreported Q3 results, with CEO James Hughes calling it "another strong quarter"FB Financialreported Q3 results, with EPS in-line with consensusBeam Globalreported preliminary Q3 resultsScienturereported preliminary Q3 results, with revenue missing consensusAlbertsonsreported Q2 results, with CEO Susan Morris stating the results "do not reflect the potential of the Company"INDEXES:The Dow fell 180.45, or 0.35%, to 51,670.10, the Nasdaq lost 41.52, or 0.15%, to 27,204.38, and the S&P 500 declined 1.79, or 0.02%, to 7,805.45.
S&P 500 Earnings Expected to Grow 30% in Q3
The major averages were fractionally lower near noon as investors digest earnings reports from big banks, as well as other major names like UnitedHealth and Domino's Pizza. Analysts expect S&P 500 earnings to grow 30% year-over-year in the third quarter, according to LSEG data.Technology stocks are weighing on sentiment as concerns about Chinese competition intensify following reports of advances by chipmaker ChangXin Memory Technologies. Semiconductor shares are under pressure globally, with South Korea's Kospi dropping 5.5% and Japan's Nikkei falling 1.8%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Big banks kicked off earnings season, with Citiand Goldman Sachsposting upbeat results, Wells Fargoreporting mixed quarterly results, and JPMorganreporting lower-than-expected Q3 earnings and revenueUnitedHealthprovided a "beat and raise" report for Q3Johnson & Johnsonalso provided a "beat and raise" report for Q3Domino's Pizzareported better-than-expected Q3 earnings and revenueAppleintroduced the Apple Home Collection lineup of smart home accessories, as well as a new 4K Apple TV and Apple HomeView2. WALL STREET CALLS:VF Corp.upgraded to Buy at Truist and to Overweight at Piper SandlerPershing Square Inc.downgraded to Underperform from Neutral at BofAViking Holdingsupgraded to Overweight at BarclaysSecuritizedowngraded to Neutral at CitiAdobedowngraded to Hold at HSBC3. AROUND THE WEB:TSMCexecutives in charge of overseas operations met Texas officials and started more serious discussions in 1H26, after talking on and off for more than 10 years, Culpium saysTencenttold investors its planned bond offering of $5B will finance AI-related expenditures, Bloomberg saysKrogeranticipates a reduction of over one-third of its corporate headcount, eliminating about 3,000 roles across various functions over the next 3 years, Bloomberg reportsEpic Games has postponed the release of an upcoming video game collaboration with Disneyand has told its developers to use more AI tools to complete the game, Bloomberg saysSpeaking at the DBS Asia Future Forward Conference in Singapore, BroadcomCEO Hock Tan cautioned that market sentiment has grown overheated and that short-term trading driven by volatile data resembles gambling, CNBC reports4. MOVERS:Bumblegains after announcing it will be acquired by Ithaca for $6.05 per share in cashFermirises after signing a credit support agreement with AMDBigBear.aihigher after securing more than $225M in contract awardsSyndaxlower after announcing its idiopathic pulmonary fibrosis study did not meet its endpointSix Flagsfalls after one park visitor died and four others were injured at Six Flags Over Georgia5. EARNINGS/GUIDANCE:Unity Bancorpreported Q3 results, with CEO James Hughes calling it "another strong quarter"FB Financialreported Q3 results, with EPS in-line with consensusBeam Globalreported preliminary Q3 resultsScienturereported preliminary Q3 results, with revenue missing consensusAlbertsonsreported Q2 results, with CEO Susan Morris stating the results "do not reflect the potential of the Company"INDEXES:Near midday, the Dow was down 141.31, or 0.27%, to 51,709.24, the Nasdaq was down 69.46, or 0.25%, to 27,176.44, and the S&P 500 was down 14.53, or 0.19%, to 7,792.71.
Securitize Shares Drop 10.4% to $12.38
Securitize is down -10.4%, or -$1.44 to $12.38.
Securitize Shares Drop 8.5% to $12.65
Securitize is down -8.5%, or -$1.17 to $12.65.
Major Averages Decline Amid Rising Oil Prices
The major averages closed broadly lower amid a sharp increase in oil prices, elevated Treasury yields and new jitters about AI fueled by a report on OpenAI's revenue growth. Oil spiked after President Donald Trump said he doesn't want to reach an agreement with Iran to end the war, while the U.S. is reportedly preparing strikes in the region ahead of midterm elections in November.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Starbuckshas explored a takeover of Chipotle, FT saysGlobalFoundriesand TSMCreached an agreement to establish a U.S. supply of silicon interposersDevon Energyagreed to sell Eagle Ford assets to Crescent Energyfor $4.2B in cashViatriswill acquire Pacira Biosciencesfor $36.50 per share in cash, or $1.65BA number of big AI-related names, including Microsoft, Oracle, Nvidia, CoreWeave, and Cerebras, moved lower after the Financial Times reported that OpenAI's annualized revenues were closer to $50B at the end of September, well below the $70B figure previously circulated2. WALL STREET CALLS:Palantirupgraded to Buy at Goldman SachsNXP Semiconductorsdowngraded to Neutral at CitiUnityupgraded to Outperform at Raymond JamesCiti downgraded Xeroxto Sell on challenged print marketDeutsche Bank upgraded Chimeto Buy on higher growth profile3. AROUND THE WEB:Disneyspeaking to studios about Imaxcompetitor, Bloomberg saysThe FTC is investigating if Blockviolated consumer protection laws, Bloomberg reportsShell, BP, TotalEnergies, ConocoPhillips, and Chevronhave each recently expressed interest in investing in the Middle East, targeting greater access to the region's oil and gas reserves, FT reportsAmerican Airlineswill begin rolling out SpaceX'sStarlink across its mainline fleet in early 2027, covering more than 1,000 Airbusand Boeingaircraft and expanding on its previously announced plan to equip over 500 Airbus aircraft, Bloomberg saysBroadcomrecently has been working to arrange over $50B in financing for OpenAI's custom AI semiconductor, which the firms are developing together, WSJ says4. MOVERS:Securitizegained after announcing the launch of Securitize StocksAccentureincreased in New York after announcing a major expansion of its collaboration with Dell TechnologiesAngioDynamicsdeclined after reporting Q1 results and providing guidance for FY27Hims & Herswas lower after naming Jon Franklin as Chief Accounting OfficerTilrayfell in New York after reporting Q1 results, with EPS beating consensus5. EARNINGS/GUIDANCE:PepsiCoreported upbeat Q3 results but cut its FY core EPS growth guidanceLevi Straussprovided a "beat and raise" report for Q3Helen of Troyreported Q2 results and raised its outlook for FY27Tomi Environmentalreported preliminary Q3 resultsBeyond Airreported preliminary Q3 results and backed its outlook for FY26INDEXES:The Dow rose 51.77, or 0.10%, to 51,231.64, the Nasdaq lost 345.35, or 1.25%, to 27,193.34, and the S&P 500 declined 36.41, or 0.47%, to 7,765.36.
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