Major stock indexes ended higher Wednesday, the record-breaking 36th day of the U.S. government shutdown, as investors shook off concerns about an AI bubble and the Supreme Court voiced skepticism about President Donald Trump’s tariffs. The Pittsburgh-based company sees fourth-quarter bookings of $329.5 million to $335.5 million and adjusted EBITDA of $75.4 million to $78.8 million. Analysts surveyed by Visible Alpha had expected $343.6 million and $80.5 million, respectively. CarMax shares, which entered Thursday down 50% this year, are down a further 10% in premarket trading. Though shareholders have voted with Tesla to approve a past compensation deal for Musk on more than one occasion, the days leading up to today’s shareholder vote have been fraught with tension.
For the current quarter, Bumble sees adjusted EBITDA of $61 million to $65 million and revenue of $216 million to $224 million. Visible Alpha consensus called for $74.6 million and $233 million, respectively. The Austin, Texas-based company, which is the parent of Badoo and BFF in addition to its namesake brand, posted a 16% year-over-year decline in total paying users to 3.57 million, below the 3.73 million expectations of analysts polled by Visible Alpha. Tesla (TSLA) stock fell 3.5% ahead of a shareholder vote on CEO Elon Musk’s trillion-dollar pay package and other proposals in a meeting that was set to start at 4 p.m. A final count likely will come in a few days in a Securities and Exchange Commission filing.
For the current quarter, Pinterest sees revenue in the range of $1.31 billion to $1.34 billion, while Visible Alpha analysts are anticipating $1.34 billion. Product sales increased 12%, with volume growth of 14% but a 4% lower net selling price. For the full year, Zimmer Biomet affirmed its revenue growth guidance of 6.7% to 7.7%, but lowered the top end of its constant currency and organic constant currency revenue growth range projections. Fellow data-storage firms Micron Technology (MU) and Western Digital (WDC) also were among the top gainers in the benchmark index today, rising 9% and 7%, respectively, to their own record highs.
The Walt Disney Co. (DIS) unit and PENN Entertainment (PENN) announced that “they have mutually agreed upon the early termination of their exclusive U.S. online sports betting” agreement. The WSJ Leadership Institute is a members-only network of the world’s most influential leaders across industries, sectors, and borders. Join the community shaping what’s next in business, technology, and culture. This year, for the first time since 2021, there was an increase in the number of women who said their family is the reason they are not in the labor force, according to the bank.
- Revenue was up 5.1% to DK74.98 billion ($11.53 billion), also short of forecasts.
- Including today’s sharp declines, shares of Bumble are down nearly 50% this year.
- The three major indexes ended higher yesterday, the record-breaking 36th day of the U.S. government shutdown.
- “Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business,” Pitaro said in ESPN’s second press release.
Snap shares soared some 12% on Thursday after the owner of the Snapchat social media platform posted better-than-expected results and guidance on user growth and spending. Most of the companies in the S&P 500 have reported quarterly earnings by now, and their overall performance has been positive. The rewards for beating, however, have been miserly, according to FactSet data, while the punishment for the firms that missed expectations have been particularly stern. Bumble (BMBL) shares lost a quarter of their value Thursday, a day after the struggling owner of several dating apps reported a bigger-than-expected third-quarter decline in total paying users and issued a soft outlook. Taser maker Axon Enterprises’ third-quarter sales jumped 31% year-over-year and topped analysts’ expectations.
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DoorDash (DASH) shares tumbled Thursday after the food delivery firm missed profit estimates and gave a weak outlook. Earnings of $0.33 per share and revenue that decreased 10% to $246.2 million narrowly topped estimates. Shares of Pinterest (PINS) plunged after the visual social media and search company missed profit expectations and gave weak holiday quarter guidance. Trex Co. (TREX) shares sank to multiyear lows after the maker of deck-building materials posted worse-than-expected results and lowered its outlook, citing a slump in spending for housing projects. Zimmer Biomet Holdings (ZBH) was the worst-performing stock in the S&P 500 on Wednesday afternoon after the medical device maker’s third-quarter revenue came in weaker than expected. Jefferies and HSBC analysts, who have “buy” or equivalent ratings for the stock and $300 price targets, said they came away from Tuesday’s results convinced of AMD’s potential for more AI-driven growth.
The company posted third-quarter adjusted earnings per share of $0.38, three cents below what analysts surveyed by Visible Alpha were looking for. The company posted adjusted earnings per share of $0.55 for the third quarter, above analysts’ estimates compiled by Visible Alpha. Revenue jumped 28% year-over-year to $885.7 million, also topping forecasts, thanks in part to a growing number of large customers and business from AI clients.
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Shares of Metsera (MTSR) surged 14% on news Pfizer (PFE) intended to sweeten its offer to acquire the weight-loss startup amid a bidding war with Ozempic and Wegovy maker Novo Nordisk (NVO). Pfizer stock was about 1% higher, while U.S.-listed shares of Novo Nordisk fell 4%. Shares of the Danish firm’s rival Eli Lilly (LLY) were 1% after President Donald Trump announced deals with the U.S. company and Novo Nordisk to cut weight-loss drug costs. With limited government economic indicators, investors are paying extra attention to other data. Consulting firm Challenger, Gray & Christmas this morning said U.S. employers announced 153,074 job cuts in October, the most for that month since 2003. Shares of Axon Enterprises (AXON) tanked 18% in premarket trading Wednesday, a day after the Scottsdale, Ariz.-based firm reported an adjusted profit of $1.17, well below the $1.49 consensus estimate of analysts surveyed by Visible Alpha.
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U.S.-listed shares of Novo Nordisk (NVO) fell after the drugmaker scaled back its outlook, citing disappointing demand for its GLP-1 weight loss and diabetes drugs as competition in Arbitrage forex the sector increases. Reports by companies like Challenger usually take a back seat to official data from the Bureau of Labor Statistics because the BLS data is more comprehensive, based on massive surveys, and is considered the “gold standard” for reliability by economists. But with the government and all its statistical agencies shut down since Oct. 1, investors, business leaders, and officials at the Federal Reserve must rely on alternate data sources to assess the health of the economy. Pill versions of the drugs, expected to be released soon, will cost $150 a month when the FDA approves them. The manufacturers have not announced pricing, so the TrumpRX prices cannot yet be compared.In April, the White House scrapped a program started by former President Joe Biden that would have had Medicare and Medicaid cover weight loss drugs earlier this year.
Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded. There are no fixed times for reviewing the composition of the index, since changes are only made by the commission as and when they are needed. The used-car giant announced before the bell that CEO Bill Nash, a company veteran of more than 30 years, is stepping down, effective Dec. 1, and would be replaced on an interim basis by board member David McCreight. CarMax’s chief executive is out, its current-quarter projections are weak, and its stock is dropping. “Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business,” Pitaro said in ESPN’s second press release. Starting Dec. 1, PENN will offer U.S. sports betting under theScore Bet brand, while DraftKings will become “the exclusive Official Sportsbook and Odds Provider of ESPN,” including operating the betting tab on the ESPN app.
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- The Warsaw, Ind.-based firm reported revenue that increased nearly 10% year-over-year to $2.00 billion, but it came in a tick below consensus estimates of analysts surveyed by Visible Alpha.
- The private data is especially important because the most recent official reports showed inflation rising and the job market weakening.
- “With disciplined investment and a pipeline of first-in-class medicines, we’re focused on expanding access, advancing innovation, and sustaining long-term growth.”
With the government shutdown still delaying official data, private measures of the labor market show the job market is still drying up.U.S. Private employers added 42,000 jobs in October, payroll provider ADP said Wednesday. That was more than the 22,000 forecasters had expected, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The growth was a rebound after a loss of 29,000 jobs in September, but was slow by historic standards, far below the 221,000 jobs added in October 2024, for instance. The private data is especially important because the most recent official reports showed inflation rising and the job market weakening. Amgen (AMGN) was the best-performing stock in the Dow Jones Industrial Average on Wednesday morning after the biopharmaceutical firm posted third-quarter results that easily topped analysts’ estimates.
Most Wall Street analysts, however, remain bullish on the chipmaker’s stock amid expectations of growing market share for AMD. Only a few of Wall Street’s favorite AI stocks have posted comparable gains in the past 12 months. Software companies Palantir (PLTR) and AppLovin (APP), lauded for their AI-driven growth, have risen roughly 300% in the past year. The food delivery giant said orders were up 21% to 766 million, and marketplace gross order value increased 25% to $25 billion. However, costs and expenses jumped 23% to $3.19 billion as the company’s investments in expanding its reach along with new product and initiatives like delivery robots grew.
Higher costs of living have made it harder for many employees to save, and some companies are offering benefits to help their workers create and maintain an emergency savings account. In post-earnings moves, Datadog (DDOG) soared 23%; Snapchat parent Snap (SNAP) stock surged nearly 10%; Duolingo (DUOL) nosedived 27%; DoorDash (DASH) sank 17%; Qualcomm (QCOM) fell 3.6%; and Robinhood Markets (HOOD) declined almost 11%. Strengthen financial decisions by leveraging trusted real-time news, data and analysis. Axon Enterprises also announced it had agreed to acquire emergency communications firm Carbyne for $625 million, a deal it expects to close in the first quarter of 2026.
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Workers are struggling to grow their savings, and about 45% of workers said in a recent Federal Reserve survey that they do not have sufficient emergency savings. However, more employers have started offering emergency savings benefits to their employees, according to Fidelity Investments. Power strategic decisions with news, information and business intelligence, enhanced by the power of GenAI.
DOT and Federal Aviation Administration officials didn’t respond to Investopedia’s questions about when further details will be released in time for publication. Clients with $100,000 or more in annual recurring revenue were up 16% to about 4,060, and CEO Olivier Pomel told investors the company saw “strong” growth from AI customers when excluding its largest client, according to a transcript provided by AlphaSense. Many consumers had large savings accounts during the pandemic, boosted by COVID-19-era stimulus checks, and less spending during lockdown. Once the pandemic ended, however, inflation began to run hot, and many people began to use up what they had saved up to cover increased costs. As the costs of living continue to rise, many workers are struggling to maintain their savings. The number of Americans living paycheck to paycheck increased by four percentage points from 2024 to this year, with 67% of workers reporting they are living this way in the 2025 PNC Bank Financial Wellness in the Workplace Report.
Traffic among high-earners increased by nearly double digits last quarter, while visits from low-income households fell by a similar amount, CEO Christopher Kempczinski said on a conference call Wednesday. Shares of the Singapore-based firm, which supplies hard disk drives (HDDs) for data storage, surged after it said it had agreements with lenders to exchange $500 million in debt for cash and stock. In post-earnings moves, Pinterest (PINS) stock dropped almost 22%, Axon Enterprises (AXON) tanked 9%, Arista Networks (ANET) declined about 8.5%, Super Micro Computer (SMCI) sank 11%, Humana (HUM) fell 6%, and U.S.-listed shares of Novo Nordisk (NVO) rose less than 1%.
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“We delivered strong volume growth this quarter, reflecting the demand for our medicines and the impact we’re having on patients worldwide,” CEO Robert Bradway said. “With disciplined investment and a pipeline of first-in-class medicines, we’re focused on expanding access, advancing innovation, and sustaining long-term growth.” U.S.-listed shares of Novo Nordisk have lost about 46% of their value this year.