🛒 Amazon Keeps Profit Margins Strong Despite Massive AI Investments
The articles and information in this newsletter are a summary of yesterday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.
S&P 5005, 705.45-108.22 (-1.86%)
Dow Jones 41,763.46-378.08 (-0.90%)
NASDAQ 18, 095.15-512.78 (-2.76%)
Market close: October 31, 2024
Breaking News
Amazon Keeps Profit Margins Strong Despite Massive AI Investments.
🛒 Amazon's operating profit surged nearly 19% above expectations, offsetting a record $22.6 billion in AI and infrastructure spending. The company credited high demand for everyday essentials, and its Q4 operating income projection further eased concerns about margin impacts. WSJ reports.
Image source: Photo by appshunter.io on Unsplash
EdgeUp
🌐 SearchAI: OpenAI launches ChatGPT search, competing with Google and Microsoft. CNBC reports.
💳 MasterWin: Mastercard's profit beats estimates on resilient consumer spending. Reuters reports.
🌍 PollutionSuits: Los Angeles County sues PepsiCo and Coca-Cola over plastic pollution. Reuters reports.
📉 AI-Drain: Meta, Microsoft stocks tumble as Big Tech's AI splurge prompts investor caution. Yahoo Finance reports.
🚗 UpDrive: Uber reports third-quarter results that beat Wall Street’s revenue expectations. CNBC reports.
⬇️ StelSlide: Stellantis revenue slides as automaker cuts bloated inventories. Reuters reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time) Benzinga reports.
1. $TOVX: Theriva Biologics
Total gain: 35.61%
2. $VSME: VS Media Holdings
Total gain: 35.45%
3. $PEV: Phoenix Motor
Total gain: 29.15%
4. $PDEX: Pro-Dex
Total gain: 23.46%
5. $ATHA: Athira Pharma
Total gain: 21.81%
Friday Fact
Where Did the Bull and Bear Market Get Their Names?
The use of “bull” and “bear” to label financial markets has several different possible origins. However, the terms could come from how these animals attack: a bull thrusts its horns upward, symbolizing rising prices, while a bear swipes its paws downward, representing falling prices. Thus, a bull market is for a period of rising prices, and a bear market is for when prices are declining. Hence, if you follow the financial news, “bull market” and “bear market” are spoken so often that they might no longer remind you of actual animals.
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on October 31.
(All pricing and percent gains are based on regular market trading hours from 9:30 am to 4:00 pm Eastern Time)
Recommended by LinkedIn
1. $ROOT: Root
Total gain: +64.21%
The parent company of Root Insurance Company has successfully refinanced its term loan facility with funds and accounts managed by BlackRock Capital Investment Advisors, LLC and affiliates. The enhanced terms of this long-standing partnership improve Root’s financial flexibility and significantly lower its capital costs. Benzinga reports.
2. $ATEC: Alphatec Holding
Total gain: +39.68%
The company reported financial results for Q3 ending September 30, 2024, along with recent corporate highlights. Surgical revenue increased by 30%, driving total revenue growth of 27%. Additionally, full-year revenue and profitability guidance have been raised. The company's balance sheet flexibility was also strengthened with a $50 million expansion of its existing term loan facility. Benzinga reports.
3. $AMIX: Autonomix Medical
Total gain: +36.65%
The company announced promising preliminary results from the first 15 patients in its ongoing proof-of-concept clinical trial, which is evaluating the safety and effectiveness of using transvascular energy to ablate specific problematic nerves to relieve pain in patients suffering from pancreatic cancer. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
XOM Exxon Mobil
3Q 2024
Before Market Open Estimate: 1.880
Actual: 1.920
CVX Chevron
3Q 2024
Before Market Open Estimate: 2.430
Actual: 2.510
CAH Cardinal Health
1Q 2025
Before Market Open Estimate: 1.620
Actual: 1.880
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am U.S. employment report - October
8:30 am U.S. unemployment rate - October
8:30 am U.S. hourly wages - October
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Parting Thoughts
“People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences.” ― Peter Lynch
Sourced in: "One Up On Wall Street: How to Use What You Already Know to Make Money in the Market", by Peter Lynch, published in 1989
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