Category: Top Stories

Amer Sports, Inc. (NYSE:AS) stock jumped Tuesday after delivering a strong third quarter, with earnings and sales topping Wall Street expectations, driven by double-digit growth across all regions and segments.

The company also raised its 2025 earnings and revenue outlook, highlighting powerful momentum in Salomon footwear, Arc’teryx and Wilson as it targets higher margins and sustained profitable growth.

Quarterly Metrics

The company reported third-quarter adjusted earnings per share of 33 cents, beating the analyst consensus estimate of 25 cents.

Also Read: 12 Consumer Discretionary Stocks Moving In Tuesday’s Pre-Market Session

Quarterly sales of $1.756 billion (+30% year over year) outpaced the Street view of $1.710 billion.

Amer Sports reported that all four regions experienced double-digit revenue growth in the third quarter, led by Greater China, which grew 47% with strong momentum continuing into the fourth quarter of 2025.

Segmental Analysis

“All three segments performed extremely well led by exceptional Salomon footwear growth, an Arc’teryx omni-comp reacceleration, and solid growth from Wilson Tennis 360 and our Winter Sports Equipment franchises,” said CEO James Zheng.

Technical Apparel omni-comp reaccelerated to +27%. Strength was broad-based across regions, categories and channels.

Outdoor Performance grew 36%. Growth was driven by continued excellent momentum in Salomon footwear and strong performance from Winter Sports Equipment.

Ball & Racquet Sports increased 16% to $350 million.

Margins

Gross margin increased 160 basis points to 56.8%, while adjusted gross margin increased 240 basis points to 57.9%.

Adjusted operating profit increased 41% to $275 million. Adjusted operating margin increased 130 basis points to 15.7%

Technical Apparel margins decreased 100 bps to 19.0%, Outdoor Performance margins increased 420 bps to 21.7%, and Ball & Racquet Sports margins increased 70 bps to 7.6%.

Adjusted net income attributable to equity holders of the company increased 161% to $185 million.

CFO Andrew Page said, “Salomon footwear continues to add a strong second leg of profitable growth to Arc’teryx’s already exceptional trajectory, significantly elevating the financial profile and long-term value creation potential of the Amer Sports portfolio.

Cash and cash equivalents totaled $353 million at quarter end, while net debt stood at $800 million. Year over year, inventories rose 28% to $1.71 billion.

Outlook

Amer Sports raised its 2025 GAAP earnings guidance to 88 cents to 92 cents per share, up from 77 cents to 82 cents. The outlook now sits above the 78-cent analyst estimate.

The company also lifted its 2025 sales forecast to $6.375 billion to $6.427 billion, from $6.22 billion to $6.27 billion. The new range compares with the $6.361 billion consensus.

Technical Apparel expects revenue growth of 26%–27% and a segment operating margin of about 21%.

Outdoor Performance expects revenue growth of 28%–29% with a segment operating margin of 13%–13.5%.

Ball & Racquet expects revenue growth of 10%–11% and a segment operating margin of 3%–4%.

Price Action: AS shares were trading higher by 10.21% to $33.90 premarket at last check Tuesday.

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Photo via Shutterstock

Andreas Halvorsen just reminded Wall Street why Viking Global Investors is one of the hedge fund world’s most-watched portfolios: he doesn’t trim, he swings. Viking’s third quarter 13F filing shows a $38.5 billion book that looks like it’s been through a full reboot — complete with shock exits, oversized new wagers and a decisive tilt toward financials.

• Track Viking’s top holding PNC here.

The Quarter Halvorsen Broke Up With Big Tech

The headline-grabber is impossible to miss: Viking dumped Nvidia Corp (NASDAQ:NVDA), Amazon.com Inc (NASDAQ:AMZN), and Qualcomm Inc (NASDAQ:QCOM) entirely. All out. Zero shares. For a fund that once thrived on mega-cap tech, that’s not a pivot — that’s a controlled detonation.

Nvidia’s complete removal — 3.68 million shares wiped out — lands the biggest shock. But Amazon.com Inc (NASDAQ:AMZN), American Tower Corp (NYSE:AMT), Flutter Entertainment PLC (NYSE:FLUT), Trade Desk Inc (NASDAQ:TTD) and a long list of growth favorites also vanished, signaling Halvorsen is done paying premium multiples for crowded trades.

Read Also: Novo, Pfizer Battling Over Future Of Weight-Loss Drugs

A Portfolio That Suddenly Looks… Very Financial

If you want to see where the money went, follow the banks. Viking’s new top holding is PNC Financial Services Group Inc (NYSE:PNC), now sitting at 4.15% of the portfolio after Halvorsen boosted the stake by a massive 234%. JPMorgan Chase & Co (NYSE:JPM), Charles Schwab Corp (NYSE:SCHW) and Capital One Financial Corp (NYSE:COF) also climbed the ranks with double-digit share increases.

US Bancorp (NYSE:USB), however, didn’t survive the purge — a 24 million-share position dropped to zero in one stroke.

The New Arrivals: Big, Boring, Beautiful?

Halvorsen’s third quarter “shopping cart” reads like he’s suddenly embracing high-quality compounders.

Microsoft Corp (NASDAQ:MSFT), Netflix Inc (NASDAQ:NFLX), Aon PLC (NYSE:AON), Chewy Inc (NYSE:CHWY), Edwards Lifesciences Corp (NYSE:EW), Intuit Inc (NASDAQ:INTU), KKR & Co Inc (NYSE:KKR), Deckers Outdoor Corp (NYSE:DECK) and Deutsche Bank AG (NYSE:DB) all appear as fresh positions — many in billion-dollar sizing.

And some bets weren’t just new — they were loud. Viking opened a massive 15 million-share DraftKings Inc (NASDAQ:DKNG) stake, added 2.7 million shares of KKR, and quietly built a sizeable position in Celestica Inc (NYSE:CLS) right as the stock sits in the AI-supply-chain sweet spot.

Why It Matters To Investors

Viking didn’t tweak at the edges — it rewired the whole machine. The third quarter was the quarter Halvorsen exited the most crowded tech trades, rotated heavily into financials, and stocked up on durable blue chips and selective high-growth names.

If hedge fund positioning is a sentiment tell, Viking just flashed a bright signal: 2025’s winners may look a lot more like PNC and Microsoft — and a lot less like Nvidia and Amazon.

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Image: Shutterstock

Walt Disney Co (NYSE:DIS) shares tanked in early trading on Friday after the company reported mixed fiscal fourth-quarter results on Thursday.

• Follow the breaking news on DIS stock here.

Here are some key analyst takeaways:

• Rosenblatt Securities analyst Barton Crockett reiterated a Buy rating, while cutting the price target from $141 to $130.
• Needham analyst Laura Martin maintained a Buy rating and price target of $125.
• Guggenheim Securities analyst Michael Morris reaffirmed a Buy rating and price target of $140.
• Goldman Sachs analyst Michael Ng reiterated a Buy rating and price target of $152.

Check out other analyst stock ratings.

Rosenblatt Securities: Walt Disney’s revenues remained almost flat year-on-year, coming in at $22.5 billion, short of expectations, Crockett said. Pro forma earnings contracted 3% year-on-year to $1.11 per share, but were higher than Rosenblatt’s estimate of nine cents per share, he added.

“The company’s core strength is durable parks,” the analyst wrote. Although revenue growth at six domestic parks slowed to 6.1%, from 10% in the previous quarter, international parks accelerated to 10%, from 6% in the fiscal third quarter, he stated.

Needham: Walt Disney reported mixed results, with revenues missing estimates and earnings coming in higher, Martin said in a note. Management issued “weak” guidance for the December quarter, she added.

Walt Disney’s growth is “tied to” expansion in Cruise Ships and Theme Park, which implies “higher capital intensity going forward,” the analyst wrote. While Theme Park bookings are up 3% for the December quarter, Cruise Ships could generate strong new revenue growth from Disney Destiny, to be launched on Nov. 20, Disney Adventure, planned for launch in March 2026, and five new ships beyond fiscal 2026, she further stated.

Guggenheim Securities: Walt Disney reported its total revenues 1% below Street expectations, Morris said. Although the miss is small, it is relevant, “given intense investor focus on demand and consumer trends,” he added.

The analyst lowered the segment operating income forecast from $5.3 billion to $4.7 billion, mainly due to “higher cruise-related expenses, tough political advertising comps, increased marketing expense ahead of ‘Avatar: Fire and Ash’ and slower than previously forecast DTC SVOD margin growth.” Management reiterated their projection of double-digit earnings growth in fiscal 2026 and 2027, he further stated.

Goldman Sachs: Walt Disney’s direct-to-consumer earnings in the fiscal fourth quarter and outlook for the fiscal first quarter missed expectations, Ng said. Entertainment revenues came in at $10.21 billion, missing consensus of $10.44 billion, he added.

The company’s cash content outlook of $24 billion, combined with the SVOD (subscription video on demand) EBIT margin outlook of 10%, “implies less operating leverage and the need to invest more to drive growth than we expected,” the analyst stated.

DIS Price Action: Shares of Walt Disney had declined by 0.88% to $106.63 at the time of publication on Friday.

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• Disney Isn’t Jumping On The Media Consolidation Bandwagon, Top Executive Says, ‘We Like The Hand That We Have’

Photo: Shutterstock

NICE Ltd (NASDAQ:NICE) shares rose Thursday after the company reported its third-quarter results, beating street estimates.

The company reported adjusted earnings of $3.18 per share, in line with analysts’ estimates and up 10.4% from the same period last year.

Revenue totaled $731.99 million, slightly above Wall Street expectations of $728.99 million and reflecting a 6.1% year-over-year increase.

Also Read: NICE Stock Stops Being Nice, Has A Bearish Breakdown

Cloud revenue rose 13% to $562.9 million, up from $500.1 million in the prior-year quarter, driven by strong momentum in the company’s CX AI and Self-Service business, where annual recurring revenue surged 49% year over year (or 43% excluding the Cognigy acquisition).

Services revenue declined to $138.7 million from $149.9 million, while Product revenue fell to $30.4 million from $40.0 million a year earlier, reflecting the company’s continued transition toward a cloud-first model.

The adjusted gross margin for the quarter was 69.9%, compared to 71.1% in the third quarter of 2024, while the adjusted operating margin stood at 31.5%, down slightly from 32.0% a year ago.

The company reported adjusted EBITDA of $254.19 million, compared with $242.41 million in the same quarter last year.

The company ended the quarter with $420.17 million in cash, cash equivalents, and restricted cash.

Outlook

The company updated its full-year 2025 adjusted earnings guidance to $12.18-$12.32 per share from a prior range of $12.33-$12.53, compared with analysts’ expectations of $12.45.

The company raised its full-year 2025 revenue outlook to $2.93 billion-$2.95 billion, up from a previous range of $2.92 billion-$2.94 billion, versus the consensus estimate of $2.93 billion.

CEO Commentary

Scott Russell, CEO of NICE, stated, “We’re pleased to report a strong third quarter, stemming from the continued execution of our AI-first strategy and our outstanding go-to-market performance.”

“Our AI momentum continues to accelerate, with sustained organic performance amplified by the integration of Cognigy. Together with CXone, we’re redefining what’s possible in customer experience — bringing AI, contextual engagement data, and automation together in a unified real-time platform that drives meaningful business outcomes,” he added.

Price Action: NICE shares were trading higher by 8.64% to $135.00 premarket at last check Thursday.

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Photo by T. Schneider via Shutterstock

TotalEnergies SE (NYSE:TTE) on Wednesday penned a 15-year Power Purchase Agreement (PPA) with Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google.

Details

As per the deal, Google will receive 1.5 TWh of certified renewable electricity from TotalEnergies’ nearly completed Montpelier solar farm in Ohio.

Connected to the PJM grid, which is the largest in the U.S., the facility will power Google’s data center operations in the state.

Also Read: AI Meets Refining: Honeywell Pilots Experion Assistant With TotalEnergies

The agreement aligns with TotalEnergies’ strategy to provide customized energy solutions for data centers, which represented nearly 3% of global energy consumption in 2024.

Also, it aligns with Google’s goal of adding new carbon-free energy to the grids where it operates.

Management Commentary

Stéphane Michel, President Gas, Renewables & Power at TotalEnergies, added, “This agreement illustrates TotalEnergies’s ability to meet the growing energy demands of major tech companies by leveraging its integrated portfolio of renewable and flexible assets. It also contributes to achieving our target of 12% profitability in the power sector.”

Bigger Picture

Notably, TotalEnergies is developing a 10 GW renewable portfolio across the U.S., including solar, wind, and battery storage projects.

Of this, 1 GW is in the PJM market in the northeast U.S. and 4 GW is in Texas.

The Google PPA adds to TotalEnergies’ growing list of corporate partnerships, which already includes Data4, STMicroelectronics N.V. (NYSE:STM), Saint-Gobain, Air Liquide SA (OTC:AIQUY), Amazon.com, Inc. (NASDAQ:AMZN), LyondellBasell Industries NV (NYSE:LYB), Merck & Company, Inc. (NYSE:MRK), Microsoft Corporation (NASDAQ:MSFT), Orange, and Sasol.

Guyana Offshore Contract

On Tuesday, TotalEnergies (40%, operator), along with QatarEnergy (35%) and Petronas (25%), signed a production sharing contract for Guyana’s offshore Block S4.

Recent Earnings Release

Last month, the French energy giant posted third-quarter 2025 adjusted earnings of $1.77 per share, missing the $1.81 consensus estimate. Revenue came in at $48.69 billion, also below expectations of $54.93 billion.

For the fourth quarter of the year, the company expects hydrocarbon production to grow around 4% year-over-year and remain within the 2.525-2.575 Mboe/d range.

Price Action: TTE shares were trading higher by 0.73% to $64.43 premarket at last check Wednesday.

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• TotalEnergies Strikes Major Green Power Deal With Data4 In Spain

Photo via Shutterstock

U.S. stock futures fell on Tuesday after Monday’s rally. Futures of major benchmark indices were lower.

The U.S. Senate passed a 60-40 vote with the support of nearly all of the chamber’s Republicans and eight Democrats. The bill will now proceed to the House of Representatives, and has to be later signed by President Donald Trump to be signed into law.

The bond market will remain closed for Veterans’ Day, according to the Securities Industry and Financial Markets Association (SIFMA).

The CME Group’s FedWatch tool‘s projections show markets pricing a 63.7% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.

Futures	Change (+/-)
Dow Jones	-0.08%
S&P 500	-0.24%
Nasdaq 100	-0.42%
Russell 2000	-0.25%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Tuesday. The SPY was down 0.26% at $679.67, while the QQQ declined 0.44% to $620.47, according to Benzinga Pro data.

Stocks In Focus

Nvidia

• Nvidia Corp. (NASDAQ:NVDA) slipped 1.31% in premarket on Tuesday after SoftBank revealed that it sold its entire stake in U.S. chipmaker for $5.83 billion.

• NVDA maintained a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

BigBear.ai Holdings

• BigBear.ai Holdings Inc. (NYSE:BBAI) surged 20.32% as it reported revenue of $33.14 million, beating estimates of $31.82 million, and a third-quarter loss of three cents per share, beating expectations for a loss of seven cents per share.

• Benzinga’s Edge Stock Rankings indicate that BBAI maintains a stronger price trend over the long term but a weaker trend in the short and medium terms, with a poor growth ranking. Additional performance details are available here.

Rocket Lab

• Rocket Lab Corp. (NASDAQ:RKLB) soared 9.50% after it posted revenue of $155.05 million, beating the consensus estimate of $151.75 million and a third-quarter loss of three cents per share, beating analyst estimates for a loss of 11 cents per share.

• RKLB maintained a stronger price trend over the short, medium, and long terms. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Paramount Skydance

• Paramount Skydance Corp. (NASDAQ:PSKY) gained 4.92% despite missing its third-quarter earnings, but it said it expects an additional $1 billion in merger savings. Also, it announced a new round of layoffs that will affect about 1,600 employees and said it plans to raise the price of its Paramount+ streaming service in the first quarter of next year.

• It maintained a weaker price trend in the short term but a strong trend over the long and medium terms, with a strong value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

LivePerson

• LivePerson Inc. (NASDAQ:LPSN) jumped 12.79% after reporting better-than-expected results and raising its FY25 sales guidance. The company said it now sees FY2025 sales of $235.00 million to $240.00 million, up from the previous outlook of $230.00 million to $240.00 million.

• LPSN maintains a weaker price trend over the short, medium, and long terms, with a poor growth ranking. Additional information is available here.

Outset Medical

• Outset Medical Inc. (NASDAQ:OM) tumbled 25.68% after reporting worse-than-expected third-quarter financial results and cutting its FY25 sales guidance below estimates.

• OM maintained a weaker price trend over short, medium, and long terms, with a poor growth ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Cues From Last Session

Sectors gaining on Monday included consumer discretionary, communication services, and information technology, which posted the biggest increases, while consumer staples and real estate bucked the positive market trend, closing lower.

Index	Performance (+/-)	Value
Nasdaq Composite	2.27%	23,527.17
S&P 500	1.54%	6,832.43
Dow Jones	0.81%	47,368.63
Russell 2000	0.94%	2,455.65

Insights From Analysts

Professor Jeremy Siegel describes an economy that is “holding in” but grappling with significant uncertainty, primarily from the ongoing government shutdown.

He warns the shutdown “has the potential to shave 1.5 to 2 or more percentage points off Q4 GDP, depending on its duration”. While the economy’s “engine has refused to stall,” the near-term “fiscal and trade outlook remains clouded by this uncertainty”.

This is compounded by mixed labor data and potential volatility from an upcoming Supreme Court ruling on tariff authority.

In this environment, Siegel notes that financial markets are not complacent, with volatility metrics indicating “market participants [are] hedging their portfolios.”

Despite this caution and the prevalence of “bearish head fakes,” Siegel maintains a constructive, forward-looking view on equities. He points to persistent AI capital expenditure and the Federal Reserve’s “accommodative rate cut path” as key supports.

Ultimately, Siegel states, “I see a better than even chance that dips will be met with fresh buying”.

See Also: How to Trade Futures

Upcoming Economic Data

Here’s what investors will be keeping an eye on Tuesday;

• The bond market will be closed on the occasion of Veterans’ Day. Fed governor Michael Barr will speak at 10:25 a.m., and October’s NFIB optimism index will be released by 6:00 a.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.53% to hover around $60.45 per barrel.

Gold Spot US Dollar rose 0.65% to hover around $4,142.84 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.03% higher at the 99.6220 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.33 lower at $105,059.27 per coin.

Asian markets closed mixed on Tuesday, as India’s NIFTY 50, South Korea’s Kospi, and Hong Kong’s Hang Seng indices rose, whereas Japan’s Nikkei 225, Australia’s ASX 200, and China’s CSI 300 indices declined. European markets were also higher in early trade.

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Photo courtesy: godongphoto / Shutterstock.com

In a move that underscores its long-term vision, Apple Inc. (NASDAQ:AAPL) continues to make strides in its decade-old satellite connectivity project. The tech giant is reportedly developing a range of innovative features to enhance its satellite services.

Bloomberg’s Mark Gurman, in his latest “Power On” report revealed that Apple’s satellite journey began approximately ten years ago when it brought onboard two leading satellite engineers from Alphabet Inc. (NASDAQ:GOOGL).

The initial vision was to replace conventional cellular networks with satellite connectivity, enabling iPhones to directly link with space-based networks. However, this ambitious plan proved impractical, leading Apple to opt for a more achievable yet revolutionary approach: Emergency SOS via Satellite.

Following the launch of this feature with the iPhone 14 in 2022, Apple has gradually expanded its satellite services. The company introduced roadside assistance via AAA for stranded drivers in 2023 and recently allowed users to send and receive text messages in remote locations.

Also Read: Apple Gears Up For A Pivotal Year With Major Product Releases And Challenges

These services are overseen by Apple’s Satellite Connectivity Group (SCG), under the leadership of Mike Trela, a senior director in its hardware engineering department, writes Gurman.

Apple’s satellite services connect compatible iPhones and the Apple Watch Ultra 3 to a satellite network operated by Globalstar Inc. (NYSE:GSAT). The company has contemplated extending this feature to iPads via its new in-house modems, but there are no immediate plans for this.

Despite the evolving competitive landscape, with Elon Musk’s Space Exploration Technologies Corp., the parent company of Starlink, emerging as a significant player in satellite communications, Apple remains committed to its satellite vision.

The company is reportedly working on a range of additional features, including a satellite framework for third-party apps, satellite-powered maps, enhanced messaging capabilities, and “natural usage” improvements.

However, the rapidly changing industry dynamics could necessitate a shift in Apple’s strategy. For instance, Globalstar is reportedly considering a sale, with SpaceX being a potential buyer.

Despite these industry shifts, Apple remains steadfast in its pursuit of its satellite vision, conceived over a decade ago.

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Monster Beverage Corp. (NASDAQ:MNST) shares were up after the company released its third-quarter earnings report after Thursday’s closing bell, beating analyst estimates. 

Here’s a look at the details in the report. 

• MNST stock is moving. See the real-time price action here.

The Details: Monster Beverage reported quarterly earnings of 56 cents per share, which beat the consensus estimate of 48 cents.

Quarterly revenue came in at $2.19 billion, which beat the analyst consensus estimate of $2.1 billion and was up from revenue of $1.88 billion from the same period last year.

Read Next: Michael Burry Is Super-Bearish On Palantir — With 5 Million Puts

Net sales for the company’s Monster Energy Drinks segment, which primarily includes the Company’s Monster Energy drinks, Reign Total Body Fuel high performance energy drinks, Reign Storm total wellness energy drinks and Bang Energy drinks, increased 17.7% to $2.03 billion for the 2025 third quarter, from $1.72 billion for the 2024 third quarter.

“The global energy drink category continues to demonstrate solid growth, driven by increasing consumer demand. We again delivered solid financial results in the 2025 third quarter, with record net sales, gross profit dollars, operating income and net income,” said Hilton H. Schlosberg, CEO of Monster Beverage.

MNST Stock Price: According to data from Benzinga Pro, Monster stock was up 4.51% at $69.30 in Thursday’s extended trading. 

Read Next: 

• Joby Stock Takes Off After Massive Q3 Revenue Beat: What To Know

Photo: Shutterstock

DoorDash, Inc. (NASDAQ:DASH) stock plunged after the company released a mixed third-quarter earnings report after Wednesday’s closing bell, missing EPS estimates.

Here’s a look at the details in the report. 

• DASH stock is moving. See the real-time price action here.

The Details:  DoorDash reported quarterly earnings of 55 cents per share, which missed the consensus estimate of 68 cents by 19.24%.

Quarterly revenue clocked in at $3.44 billion, which beat the analyst consensus estimate of $3.35 billion.

Read Next: Michael Burry Is Super-Bearish On Palantir — With 5 Million Puts

DoorDash reported the following metrics for Q3:

• Total Orders increased 21% Y/Y to 776 million.
• Marketplace GOV increased 25% Y/Y to $25 billion.

“In Q3 2025, we generated nearly $24 billion in combined sales for merchants and earnings for Dashers, and we expect to generate well over $100 billion in 2026. We believe we are still in our early stages and are energized by the opportunity to continue learning, building, and investing on behalf of consumers, merchants, Dashers and our shareholders,” DoorDash said in its press release.

DASH Stock Price: According to data from Benzinga Pro, DoorDash stock was down 13.71% at $205.05 in Wednesday’s extended trading. 

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Photo: Shutterstock

U.S. stock futures were fluctuating on Wednesday after Tuesday’s lower close. Futures of major benchmark indices were mixed.

Investors interpreted the latest batch of corporate earnings as solid but not spectacular, offering a convenient excuse to take profits after strong year-to-date rallies.

Palantir Technologies Inc. (NASDAQ:PLTR), one of the poster children of this year’s AI-fueled rally, slumped around 8% despite easily beating Wall Street estimates and raising its full-year guidance.

President Donald Trump‘s legal authority to impose his most sweeping duties faces a key test at the Supreme Court today. Justices will hear arguments in a case whose decision could have significant reverberations for the global economy.

The 10-year Treasury bond yielded 4.08% and the two-year bond was at 3.58%. The CME Group’s FedWatch tool‘s projections show markets pricing a 70.1% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.

Futures	Change (+/-)
Dow Jones	0.06%
S&P 500	-0.10%
Nasdaq 100	-0.22%
Russell 2000	0.11%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Wednesday. The SPY was down 0.16% at $674.13, while the QQQ declined 0.34% to $617.15, according to Benzinga Pro data.

Stocks In Focus

Advanced Micro Devices

• Advanced Micro Devices Inc. (NASDAQ:AMD) fell 2.81% in premarket on Wednesday despite better-than-expected financial results for the third quarter. It said it expects fourth-quarter revenue of approximately $9.6 billion, plus or minus $300 million.

• Benzinga’s Edge Stock Rankings indicate that AMD maintains a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details are available here.

Qualcomm

• Qualcomm Inc. (NASDAQ:QCOM) was 0.42% lower ahead of its earnings scheduled to be released after the closing bell. Analysts expect it to report earnings of $2.87 per share on revenue of $10.77 billion.

• QCOM maintained a stronger price trend over the short, medium, and long terms, with a solid growth ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Robinhood Markets

• Robinhood Markets Inc. (NASDAQ:HOOD) was 0.66% higher as analysts expect it to report earnings of $0.53 per share on the revenue of $1.21 billion after the closing bell.

• It maintained a stronger price trend over the long, short, and medium terms, with a poor value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Pinterest

• Pinterest Inc. (NYSE:PINS) tumbled 18.90% as it posted downbeat earnings for the third quarter with revenue of $1.05 billion, in line with analysts’ estimates. The idea discovery platform company’s adjusted earnings of 38 cents per share missed analyst estimates of 42 cents per share.

• PINS maintains a weaker price trend over the short, medium and long term, with a poor quality ranking. Additional information is available here.

McDonald’s

• McDonald’s Corp. (NYSE:MCD) slipped 0.36% before it is expected to report earnings of $3.33 per share on revenue of $7.09 billion before the opening bell.

• MCD maintained a weaker price trend over short, medium, and long terms, with a strong growth ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Cues From Last Session

Sectors posting the biggest losses on Tuesday included communication services, consumer discretionary, and information technology, leading most S&P 500 sectors to close on a negative note.

Index	Performance (+/-)	Value
Nasdaq Composite	-2.04%	23,348.64
S&P 500	-1.17%	6,771.55
Dow Jones	-0.53%	47,085.24
Russell 2000	-1.78%	2,427.34

Insights From Analysts

BlackRock maintains a positive, overweight outlook on U.S. stocks, identifying the artificial intelligence theme as a powerful market driver. The firm’s “Weekly commentary” highlights that recent “solid tech earnings” show “how the AI buildout remains a key equity driver.”

This is evidenced by mega-cap tech firms like Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft Corp. (NASDAQ:META), and Meta Platforms Inc. (NASDAQ:META) significantly upping their capex spending on AI infrastructure, a trend BlackRock expects to continue.

This optimistic equity stance is “supported by Federal Reserve rate cuts.” While the Fed signaled a pause, BlackRock’s view is, “we think it will likely cut again,” likely in December. The rationale is that a “softening labor market gives the Fed space to cut.”

Economically, BlackRock anticipates “a notable slowing of activity without recession,” a scenario that it believes should support U.S. stocks. While acknowledging that “policy-driven volatility and supply-side constraints are pressuring growth,” the firm ultimately believes the powerful AI mega-force will continue to support corporate earnings.

BlackRock’s tactical view concludes that U.S. valuations are backed by “stronger earnings and profitability relative to other developed markets.”

See Also: How to Trade Futures

Upcoming Economic Data

Here’s what investors will be keeping an eye on Wednesday;

• October’s ADP employment data will be out by 8:15 a.m., S&P final U.S. services PMI by 9:45 a.m., and October’s ISM services data by 10:00 a.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.18% to hover around $60.67 per barrel.

Gold Spot US Dollar rose 1.31% to hover around $3,983.52 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.09% lower at the 100.1370 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.92% lower at $101,947.22 per coin.

Asian markets closed lower on Wednesday, except China’s CSI 300 index. South Korea’s Kospi, Japan’s Nikkei 225, Australia’s ASX 200, Hong Kong’s Hang Seng, and India’s NIFTY 50 indices fell. European markets were also lower in early trade.

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