After-Market : Meta increases as a result of the outcomes, while Align decreases. Oct-25

After-Market:

After-Market

After-Market active stocks

Gainers

• Group Holdings Inc (NYSE:EDR) 24% higher and announced the start of a formal study to investigate strategic alternatives for the firm. Silver Lake stated that it is actively working on a plan to take Endeavor private.
• ServiceNow (NYSE:NOW) is up 5% after reporting Q3 earnings per share of $2.92, $0.36 higher than the average expectation of $2.56. Revenue for the quarter was $2.29 billion, compared to the consensus forecast of $2.27 billion. Sees FY Subscription revenues of $8.635-$8.64B.
• O’Reilly Automotive (NASDAQ:ORLY) is up 4% after reporting Q3 earnings per share of $10.72, $0.33 more than the market expectation of $10.39. Revenue for the quarter was $4.2 billion, compared to the consensus forecast of $4.07 billion. O’Reilly Automotive forecasts FY2023 earnings per share of $37.80-$38.30, compared to the consensus of $42.26. O’Reilly Automotive forecasts FY2023 revenue of $15.7-15.8 billion, compared to the consensus of $15.677 billion.
• Meta Platforms (NASDAQ:META) is up 3% after reporting Q3 earnings per share of $4.39, $0.75 higher than the market expectation of $3.64. Revenue for the quarter was $34.15 billion, compared to the consensus forecast of $33.57 billion. Meta Platforms forecasts Q4 2023 revenue of $36.5-40B, compared to the $36.64B average.
• IBM (NYSE:IBM) is up 2% after reporting Q3 earnings per share of $2.20, $0.07 more than the market expectation of $2.13. Revenue for the quarter was $14.75 billion, compared to the average forecast of $14.75 billion.

Losers

• Align Technology (NASDAQ:ALGN) 22% LOWER; Align Technology (NASDAQ:ALGN) reported Q3 earnings per share of $2.14, $0.13 below than the market expectation of $2.27. Revenue for the quarter was $960.2 million, compared to the consensus estimate of $998.68 million. Align Technology expects Q4 2023 revenue of $0.92-0.94 billion, compared to the average of $1.02 billion. Align Technology expects FY2023 revenue of $3.83-3.85 billion, compared to the consensus of $3.97 billion.
• Edwards Lifesciences (NYSE:EW) 9% LOWER; posted $0.59 EPS in the third quarter, in line with the $0.59 analyst estimate. Revenue for the quarter was $1.48 billion, compared to the average estimate of $1.48 billion. Edwards Lifesciences expects sales of $1.45-1.53 billion in Q4 2023, compared to the consensus of $1.54 billion.

MARKET MOVERS 

Pre-market Movers

• The stock of Deutsche Bank (NYSE:DB) gained 7.1% after the German lender promised additional share buybacks next year and suggested it may return more capital to investors than originally planned. 
• Boeing (NYSE:BA) stock jumped 3.7% as the aircraft manufacturer maintained its objective of generating $3 billion to $5 billion in free cash flow this year, despite lowering its 737 delivery prediction due to quality difficulties at supplier Spirit AeroSystems (NYSE:SPR). 
• Microsoft (NASDAQ:MSFT) shares increased 3.7% as the software behemoth reported better-than-expected fiscal first-quarter results, fueled by greater growth in its cloud subsidiary Azure. 
•  The shares of General Dynamics (NYSE:GD) climbed 2.2% as demand for military equipment remained strong, despite the fact that the Gulfstream aircraft manufacturer reported a reduced quarterly profit due to higher operational expenses. 
• T-Mobile US (NASDAQ:TMUS) stock increased 1.4% after the wireless carrier boosted the lower end of its annual free cash flow forecast following higher-than-expected quarterly subscriber additions and earnings. 

Losers

•  The shares of Texas Instruments (NASDAQ:TXN) plummeted 6.1% after the chipmaker disclosed third-quarter sales and current-quarter estimates that fell short of expectations as weaker industrial demand for chips spread. 
• Alphabet (NASDAQ:GOOGL) stock dropped 5.9% after the Google parent revealed lower-than-expected revenue gains from its cloud computing unit. 
• CME Group (NASDAQ:CME) stock fell 2.5% Despite the derivatives marketplace reporting an increase in third-quarter profit as traders used the company’s products to hedge against market volatility, CME Group (NASDAQ:CME) stock slumped 2.5%. 
• Thermo Fisher (NYSE:TMO) stock declined 0.8% after the medical equipment supplier decreased its annual profit prediction for the second consecutive quarter due to sluggish demand for its services used in the production of treatments and vaccines, as well as higher raw material prices for the year. 

Midday-Market movers

GAINERS

• The shares of Deutsche Bank (NYSE:DB) increased 7.5% after the German lender promised additional share buybacks next year and stated that it may return more capital to investors than originally planned.
• The shares of General Dynamics (NYSE:GD) climbed 3.8% as demand for military equipment remained strong, despite the fact that the Gulfstream aircraft manufacturer reported a reduced quarterly profit due to higher operational expenses.
• Microsoft (NASDAQ:MSFT) shares increased 2.4% as the software behemoth reported better-than-expected fiscal first-quarter results, fueled by greater growth in its cloud subsidiary Azure.

LOSERS

• Alphabet (NASDAQ:GOOGL) stock dropped 9.3% after the Google parent revealed lower-than-expected revenue gains from its cloud computing unit.
• Thermo Fisher (NYSE:TMO) stock fell 6.3% after the medical equipment supplier decreased its annual profit prediction for the second consecutive quarter due to sluggish demand for its services used in the production of treatments and vaccines, as well as higher raw material costs for the year.
• The shares of Texas Instruments (NASDAQ:TXN) slumped 4.5% after the chipmaker revealed third-quarter sales and current-quarter estimates that fell short of expectations as weaker industrial demand for chips spread.
• Boeing (NYSE:BA) stock dipped 1.1% as the aircraft manufacturer maintained its objective of generating $3 billion to $5 billion in free cash flow this year, while lowering its 737 delivery prediction due to quality difficulties at supplier Spirit AeroSystems (NYSE:SPR).
• T-Mobile US (NASDAQ:TMUS) stock declined 0.2% after the wireless carrier boosted the lower end of its annual free cash flow forecast following higher-than-expected quarterly subscriber additions and earnings.

Earnings Calendar

Thursday, Oct. 26

• Amazon.com, Inc. (AMZN)
•   Mastercard Incorporated (MA)
•  Merck & Co., Inc. (MRK)
•  Comcast Corporation (CMCSA)
•  Intel Corporation (INTC)
•  Caterpillar Inc. (CAT)
• United Parcel Service, Inc. (UPS)
• Honeywell International Inc. (HON)
• Bristol-Myers Squibb Company (BMY)

Wednesday Oct. 25

•  Meta Platforms, Inc. (FB)
• Thermo Fisher Scientific Inc. (TMO)
• T-Mobile US, Inc. (TMUS)
• International Business Machines Corporation (IBM)
• ServiceNow, Inc. (NOW)
• The Boeing Company (BA)
• Automatic Data Processing Inc. (ADP)
• CME Group Inc. (CME)

• Citigroup (NYSE:C) declined 0.8% after agreeing to sell its retail wealth management portfolio in mainland China to HSBC (NYSE:HSBC), which lost 2.3%.
• Bristol-Myers Squibb (NYSE:BMY) stock dipped 0.8% after the pharmaceutical company announced a $5.8 billion acquisition of cancer medicine Mirati Therapeutics (NASDAQ:MRTX), down 4.6%, to diversify its oncology business.
• United Airlines (NASDAQ:UAL) stock fell 5%, American Airlines (NASDAQ:AAL) stock fell 4.7%, and Delta Air Lines (NYSE:DAL) stock fell 4.5%, as several airlines canceled or reduced flights to Israel in response to the escalation of violence between the country’s forces and the Palestinian group Hamas.
• The stock of Spotify (NYSE:SPOT) slumped 2.5% after Redburn-Atlantic cut its rating on the audio streaming service to ‘neutral’ from ‘buy,’ expecting that the company’s new audiobook offer will be gross margin dilutive.

• Workhorse Group Inc. (Nasdaq: WKHS) 32% HIGHER; Workhorse Group Inc. (Nasdaq: WKHS) announced that it has achieved IRS clearance as a qualified manufacturer for the Commercial Clean Vehicle Credit, as specified in Internal Revenue Code Section 30D(d)(3). With this approval, Workhorse clients can receive up to a $40,000 credit for all Workhorse vehicle deliveries in 2023 and beyond.
• Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) 29% HIGHER; Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) reported that it has reached an agreement with the Food and Drug Administration (FDA) on the global Phase 2 pivotal study of RP-A501 for Danon Disease. Danon Disease is a deadly hereditary cardiomyopathy that kills the majority of male patients at the age of 20 and the majority of female patients at the age of 40, and for which there are no authorized curative or disease-modifying medications. In the United States and Europe, the condition affects an estimated 15,000 to 30,000 people.

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