Energy stocks traded down after crude oil prices plunged over 5% following the easing of tensions in the Middle East. Boeing plans to raise as much as $19 billion through a common stock and convertible debt offering. 

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Capri Holdings plunged after a federal judge blocked the sale of the company to Tapestry Inc. Digital Realty Trust said lease bookings soared in the third quarter. L3Harris Technologies reported better-than-expected quarterly results. 

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Tesla reported sharply higher revenue, earnings, vehicle production, and deliveries in the third quarter. UPS reported a strong increase in domestic revenue driven by a rise in average daily volume. Lam Research signaled higher revenue in the fourth quarter. 

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Coca-Cola reported flat revenue and unit case volume declined because of the weakness in its international markets. Starbucks withdrew its 2025 outlook. Manhattan Associates' full-year revenue estimate fell short of market expectations.

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Sherwin Williams reiterated its annual earnings outlook. 3M Company tightened its annual sales growth and earnings range. Cheesecake attracted interest from an activist investor. General Motors lifted its annual earnings outlook after surpassing third-quarter estimates. 

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CVS replaced its current chief executive as the drug retailer battles falling profit and accelerates its store closures. Netflix reported higher revenue and earnings in the third quarter. Procter & Gamble said weakness in China weighed on its latest quarterly results.

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Taiwan Semiconductor revised its revenue outlook in the current quarter, citing strong demand for its chips used in advanced artificial intelligence applications and smart phones. CSX reported weak revenue growth after volume growth was weighed down by revenue per unit.

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United Airlines launched its first stock and warrant repurchase plan in nearly five years after the company's earnings continued to surpass expectations. Morgan Stanley said rising client asset inflow supported the rise in revenue and earnings in the third quarter. 

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UnitedHealth trimmed its annual earnings outlook. Goldman Sachs reported better-than-expected revenue after debt underwriting fees surged from a year ago. Citigroup reported higher investment banking fees. Bank of America said net interest income decreased 3% from a year ago in the third quarter.

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BlackRock reported higher revenue and earnings, and net fund flows increased. JPMorgan Chase revised higher its annual net interest revenue. Wells Fargo earnings were ahead of expectations. Stellantis announced a broad management shakeup. 

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Delta Airlines reported flat revenue in the third quarter and issued a cautious revenue outlook in the current quarter. Hurricane Milton-related property losses are expected to surpass multi-billion dollars as parts of Fort Myers and Sarasota remain underwater. 

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U.S. Movers: Alphabet, Boeing, Generac

Oct 9, 2024
Scott Peters
The U.S. Justice Department sought the breakup of Alphabet, the parent company of Google, alleging its unlawful monopoly in search. Boeing withdrew its pay hike offer as the machinists strike continued.

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PepsiCo tightened its annual organic revenue outlook. DocuSign was selected to replace MDU Resources in the S&P MidCap Index. China-linked stocks turned sharply lower after Chinese authorities delayed additional stimulus measures.

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Arcadium Lithium soared in heavy trading volume after mining giant Rio Tinto expressed its interest in acquiring the company. Catastrophe insurance companies declined after Hurricane Milton strengthened into a Category 4 storm. 

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Berkshire Hathaway trimmed its Bank of America holding to 10.2%. Oil complex stocks extended weekly gains amid escalating tensions in the Middle East. Levi Strauss reported mixed results.

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