Bluegreen Vacations agreed to be acquired by Hilton Grand Vacations. Dish Network swung to a quarterly loss and announced the departure of its chief executive. Berkshire Hathaway reported a surge in quarterly earnings.

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U.S. Movers: Apple, BMW, Starbucks

Nov 3, 2023
Scott Peters
Apple reported its fourth quarterly sales decline in a row, but service revenue soared to a record high. BMW said quarterly net income declined. Starbucks said pricier drinks and store expansion drove quarterly performance.

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Airbnb reported strong sales in third quarter but forecasted weaker growth in the fourth quarter. Solar Edge estimated weakening sales trend to continue in the fourth quarter. Qualcomm signaled a possible recovery in advanced chip market.

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Lufthansa AG said revenue and earnings jumped in the third quarter on higher demand for international travel. Hugo Boss reiterated its annual outlook. BT plc reported better-than-expected quarterly results. Shell Plc launched its stock buyback plan.

WeWork is expected to file Chapter 11 bankruptcy protection. Match Group forecasted weak revenue growth in the fourth quarter. AMD estimated stronger revenue growth in fiscal 2024. Wayfair struggled with weak demand for household goods.

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Pfizer swung to a net loss in the quarter because of a write-down related to COVID products. Caterpillar said fourth-quarter sales are likely to be slightly higher than a year ago. Arista Network reported a strong increase in sales and earnings.

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Amazon reported higher quarterly sales, partly driven by a rise in e-commerce sales. Intel's fourth-quarter forecast was ahead of expectations. Chipotle Mexican Grill reported sustained same-store quarterly sales and improving margins.

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UPS lowered its annual revenue outlook after a series of disruptions and strikes and narrowed its adjusted operating margin. Meta Platforms warned of softening advertising revenue growth in the current quarter. Royal Caribbean said demand for cruise travel is running ahead of pre-pandemic levels and at higher prices.

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Microsoft reported strong revenue and earnings growth in its latest quarterly results. Google reported a surge in search and advertising revenue, but cloud segment growth lagged expectations. Boeing said quarterly losses shrank.

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Coca-Cola lifted annual outlook on rising beverage volume sales. GM withdrew its annual estimate citing ongoing UAW workers strike. Spotify Technology met revenue expectations. RTX quarterly results were stronger-than-expected.

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Regions Financial estimated a decline in net interest income in the fourth quarter and in 2023. SolarEdge lowered its revenue outlook. American Express reported solid growth in revenue and transactions on its payment platform.

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Tesla earnings plunged on weaker margins. Netflix forecasted a strong increase in paid subscribers in the current quarter. Pool Corp said quarterly margins weakened. Ally Financial said net interest margin for auto loans decreased.

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United Airlines warned higher crude oil prices will dampen earnings in the current quarter. Morgan Stanley reported weakness in wealth management unit. Procter & Gamble said quarterly sales were driven by price increases.

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Choice Hotels decided to take its offer to acquire Wyndham Hotels directly to shareholders. Goldman Sachs reported mixed quarterly results but the weakness in the asset management unit was overshadowed by the strength in its investment banking fees. Bank of America reported strong quarterly performance

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Charles Schwab reported a sharp decline in quarterly revenue and earnings but advised solutions revenue jumped to a record high. Lululemon is scheduled to be added to the S&P 500 index later in the week. Pfizer lowered its annual revenue and earnings estimates.

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