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Snowflake posted adjusted earnings of 20 cents per share on revenue of $942 million. Analysts surveyed by LSEG were looking for 15 cents in earnings per share on revenue of $897 million. Nvidia – Shares of the chipmaker fell around 1% despite its third-quarter earnings results topping Wall Street's expectations . BJ's Wholesale Club – The stock popped nearly 8% after the warehouse club reported a third-quarter earnings beat and raised its full-year guidance. BJ's also announced a plan to repurchase $1 billion shares and said it will raise its membership fee.
Persons: Snowflake, LSEG, – Stocks, bitcoin, Coinbase, Mara Holdings, Baidu, BJ's, Goldman Sachs, , Sarah Min, Hakyung Kim, Michelle Fox Theobald Organizations: Palo Alto Networks, Nvidia –, , Baidu, BJ's Wholesale Locations: Palo
For the fiscal second quarter, the company posted adjusted earnings of 60 cents per share on $2.76 billion in revenue. Cadence Design Systems – The stock jumped more than 5% after the electronic design company's third-quarter earnings beat Wall Street estimates. JetBlue's third quarter results did beat analyst estimates on the top and bottom lines. PayPal – Shares fell 3% after PayPal posted third-quarter revenue that missed expectations. Crocs – Shares tumbled around 12% despite the company's third-quarter earnings beating estimates.
Persons: Ford, Trex, FactSet, Jim Conroy, John Hazen, Conroy, Crypto, Stocks, Horton, PayPal –, StreetAccount, Crocs, Lisa Kailai Han, Samantha Subin, Jesse Pound, Sarah Min, Pia Singh, Tanaya Macheel, Michelle Fox Theobald Organizations: Corporation, Ford Motors, Cadence, Systems, BP –, Pfizer, Revenue, Ross Stores, JetBlue –, JetBlue, LSEG, Mizuho, PayPal, FactSet, Xerox
Crypto stocks – Stocks linked to cryptocurrencies rose as Bitcoin soared above $64,000 to start the week. Flutter Entertainment – The FanDuel parent company popped 4% after Wells Fargo upgraded shares to overweight , saying that investors should consider buying the stock following the recent sell-off. Boeing also postponed the delivery of its still-uncertified 777X wide-body plane and forecasted a wider-than-expected loss for the third quarter. Sirius XM Holdings – The audio entertainment company rose 3.5% after Warren Buffett's Berkshire Hathaway disclosed that it purchased more of the stock. Caterpillar – The industrial company slipped more than 2% after Morgan Stanley downgraded shares to underweight from equal weight.
Persons: MicroStrategy, Mara, Mara Holdings —, Coinbase, Wells, Warren Buffett's Berkshire Hathaway, Morgan Stanley, Goldman Sachs, AppLovin, Eli Lilly's, , Alex Harring, Samantha Subin, Jesse Pound, Sarah Min, Hakyung Kim, Pia Singh Organizations: Mara Holdings, Boeing –, Boeing, Sirius XM Holdings, Berkshire, Sirius, Caterpillar, Walmart, Food and Drug Administration
Nio – U.S.-listed shares surged more than 13% after the Chinese electric vehicle maker announced it will receive a cash injection of 13.3 billion yuan for its Nio China. "Strategic investors" will provide 3.3 billion yuan of that injection, with the rest coming from Nio Inc. The transactions, which are expected to be completed by the end of this year, will reduce Nio Inc.'s stake in Nio China to 88.3%, down from 92.1%. This also spurred a broader rally among China stocks, which saw their best day of trading since 2008 . Rocket Lab – Shares rose more than 3%, extending the more than 12% gains seen during Friday's session.
Persons: Nio, Ford, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, , Lisa Kailai Han, Sarah Min, Tanaya Macheel Organizations: Nio Inc, KeyBanc, CVS, Street Journal, Glenview Capital Locations: Nio –, China, Glenview, East, Gulf Coast
Darden Restaurants — Shares advanced nearly 11% after the restaurant operator announced a multiyear partnership with Uber for on-demand delivery later this year. The company reported weaker-than-expected quarterly earnings and revenue, however, as its sales weakened at Olive Garden and its fine dining restaurants. DoorDash — The food delivery stock rose more than 3% after an upgrade to buy from neutral at BTIG. Alibaba – Shares rose more than 4% after the Chinese e-commerce company launched more than 100 open-source artificial intelligence models and a text-to-video tool. FedEx — Shares rose more than 1% ahead of the shipping giant's first-quarter earnings report due after the bell.
Persons: Uber, Jefferies, chipmakers, FactSet, Alibaba, Max, Stocks, bitcoin, — CNBC's Sean Conlon, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Sarah Min, Michelle Fox Theobald Organizations: Darden, Olive, NextEra Energy, Nvidia, Arm Holdings, Micron, Micron Technology, FedEx —
Trump Media & Technology – Shares slid more than 11% in the wake of the debate between Republican nominee Donald Trump and Democratic Vice President Kamala Harris . Dave & Buster's – The entertainment stock popped more than 13% after topping earnings estimates for the recent quarter by 15 cents a share. GameStop – The video game retailer's shares plunged more than 10% in premarket trading after the company reported a steep decline in sales. GameStop also announced an "at-the-market" stock offering of up to 20 million shares. Morgan Stanley – Shares of the major bank were down more than 1% after Goldman Sachs downgraded the stock to neutral from buy.
Persons: Donald Trump, Kamala Harris, Rentokil, Rollins, Dave, Buster's, Jefferies, Stocks, Coinbase, MicroStrategy, MARA, Morgan Stanley –, Goldman Sachs, Goldman, Morgan Stanley, , Alex Harring, Samantha Subin, Jesse Pound, Yun Li, Sarah Min, Tanaya Macheel, Michelle Fox Organizations: Trump Media & Technology, Republican, Democratic, Trump Media, GameStop, Williams, Sonoma, Jefferies, Novartis – U.S, Bank of America, Novartis, Viking Therapeutics, JPMorgan, MARA Holdings Locations: North America, Swiss, Japan
Check out the companies making headlines before the bell: Dollar Tree — Shares dropped 7% after the discount retailer posted disappointing quarterly results and announced the closure of several stores. Dollar Tree also said it plans to close nearly 1,000 stores. Texas Roadhouse — Shares gained 1.5% after Baird upgraded the restaurant chain to outperform, citing the strength of its relatively strong traffic. Eli Lilly , Amazon — Eli Lilly on Wednesday said it's partnering with Amazon Pharmacy to help deliver certain prescription drugs, including weight loss treatment Zepbound . Shares of Eli Lilly gained nearly 1%, while Amazon shares were slightly lower.
Persons: LSEG, Wells, Goldman Sachs, Bitdeer, Baird, Eli Lilly, — CNBC's Michelle Fox, Fred Imbert, Tanaya Macheel Organizations: Petco, Wellness, Royal, Marathon, Iris Energy, GE Healthcare Technologies, GE HealthCare Technologies, Texas, Amazon Pharmacy Locations: Royal Caribbean
On Tuesday, a salary transparency law went into effect for most New York City companies. Starting Tuesday, employers in New York City have to include a "good faith" salary range in all job postings, following the lead of states like Colorado, Connecticut, and Nevada. According to recent Lattice surveys, 25% of employees know the pay range of their job while 9% knows the range of the next level. Although it's unclear where respondents worked, this number could increase as more people have access to salary range data. If you've just found out you're making less than others doing the same job, Williams and Carhart agree that you should not overreact.
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