NVIDIA Corporation (NASDAQ:NVDA), down 0.7% to $433.45, has been told to halt sales of certain types of semiconductors to China as the US government brought forward the start of a proposed ban. Originally, the ban was due to come into force in the middle of November but Nvidia said it had been ordered to stop shipments “effective immediately”. Read more
Microsoft Corporation (NASDAQ:MSFT), up 3.06% to $340.73, surged higher as its quarterly earnings impressed the market, with revenue up 13% year-over-year to $56.5 billion, driven by its cloud division and its adoption of AI services powered by partner OpenAI.
The revenue performance comfortably surpassed Wall Street analyst consensus of $54.4 billion. Earnings meanwhile improved some 27% to $2.99 per share which also easily beat forecasts, with consensus pitched at $2.65. Read more
Conversely Google parent Alphabet Inc (NASDAQ:GOOG), down 9.2% to $126.04, slumped after reporting slower-than-forecast growth in its cloud arm.
Revenue and earnings beat forecasts but the Cloud sales miss was evidently decisive. Read more
The Boeing Company (NYSE:BA), down 2.26% to $178.24, reported a narrowed loss in the third quarter which it said was impacted by unfavourable defence performance and lower 737 deliveries.
The Seattle, Washington-based aeroplane manufacturer reported a 13% rise in revenue to $18.10 billion from $15.96 billion the year before, with a narrowed net loss of $1.64 billion, down from $3.31 billion last year. Read more
T-Mobile US Inc (NASDAQ:TMUS), down 0.6% to $140.30, raised guidance after reporting double-digit growth in adjusted earnings in the third quarter and a rise in revenue. It now expects core adjusted EBITDA between $29.0 billion and $29.2 billion, an increase from prior guidance of $28.9 billion to $29.2 billion. Read more
Hilton Worldwide Holdings Inc (NYSE:HLT), up 1.6% to $152.10, has reported a jump in third-quarter adjusted earnings and forecast a "meaningful uptick" in the fourth quarter as demand for hotels remains strong.
The hotel operator said in the quarter ended September, adjusted EBITDA rose 14% to $834 million from the year before, adjusted diluted EPS was $1.67, up 27%, and net income climbed to $379 million from $346 million. Read more
IMAX Corp (NYSE:IMAX), down 3.7% to $17.60, gave up premarket gains despite what appeared to be upbeat results as Christopher Nolan’s movie 'Oppenheimer' helped drive the immersive big screen cinema brand to better-than-expected quarterly financial results – it posted a $12 million profit versus a $9 million loss this time last year.
Importantly, revenue soared to $102.9 million, representing a 51% surge on the $68.8 million banked in the third quarter of 2022, and came in ahead of analyst forecasts pitched at $100.6 million. Read more
Meta Platforms Inc (NASDAQ:FB) down 1.8% to $306.84, reports its earnings later today, but, the Instagram and Facebook umbrella had a bad start to its news day. Meta is on the receiving end of lawsuits from a total of 33 US states.
Another nine attorneys general are expected to put their name to the legal action, which accuses Meta of knowingly promoting addictive social media use among young people, thereby exacerbating a mental health crisis among this demographic. Read more
Texas Instruments Inc (NYSE:TXN) down 4.4% to $140.40, last night posted an underwhelming 3Q performance as demand waned across its core markets, particularly in the industrial sector. That led to the analog chipmaker forecasting 4Q revenue and profit forecast below Wall Street estimates. Read more
Snap Inc (NYSE:SNAP), up 8.2% to $9.79, initially popped 20% higher last night on its quarterly results but since then the investor excitement has cooled.
The ‘ethereal’ social media firm posted adjusted earnings of $0.02 per share, on revenue of $1.19 billion, compared to Street expectations of a $0.04 per share loss on revenue of $1.11 billion.
Snap’s global daily active users came in at 406 million, just above the 405.7 million expected. Read more
Costar Technologies, down 8% to $68.25, tumbled after third-quarter revenue fell short of expectations. The commercial real estate information company posted revenue of $625 million, up 12% year-over-year but short of Street expectations of $625.7 million. Read more