Stocks Rise After Big Tech Earnings, Jobs Report; Amazon and Intel surge

Spectrum charter rises after strong earnings

40 minutes ago

Charter communications (CTR) Shares jumped on Friday after the cable TV, mobile and Internet provider reported better-than-expected results as it lost fewer subscribers than expected.

Spectrum’s parent company reported third-quarter earnings per share (EPS) of $8.82, with revenue rising 1.6% to $13.8 billion, both of which were above Visible Alpha analysts’ forecasts.

Charter’s internet customers fell by 110,000 to 30.3 million, and its video customers fell by 294,000 to 13.2 million. Analysts polled by Visible Alpha were expecting 30.1 million and 12.9 million, respectively.

The communications giant also reported strong growth in its mobile customer base, with Charter mobile line users up 26% to 9.4 million, more than expected.

Charter shares were up about 13% in intraday trading Friday, although even with Friday’s gains, they have lost nearly 5% of their value since the start of the year.

–Bill McCall

Amazon soars on AI optimism

1 hour 20 minutes ago

Amazon (AMZN) Shares jumped on Friday as several analysts raised their price targets for the e-commerce giant’s shares after third quarter results it exceeded expectations.

Wedbush raised its price target to $250 from $225, citing growth in Amazon shares. artificial intelligence (AI) business.

During the company’s earnings call, CEO Andy Jassy said Amazon’s artificial intelligence business is growing. grows three times faster than Amazon Web Services (AWS), its cloud computing division, at the same stage of its development.

Cloud revenue jumped 19% year-over-year to more than $27 billion amid rising demand for AI. On the investment side, Amazon said it plans to spend $75 billion on capital expenditures this year, much of which will go toward technology infrastructure to support demand for AI, according to an earnings call transcript provided by AlphaSense.

JPMorgan analysts are “comfortable” with the increased spending given Amazon’s “very clear path to monetize AI through AWS,” the company said, raising its price target to $250 from $230.

Amazon shares rose nearly 7% in recent trading to close to $200, not far from an all-time high. The stock is up more than 31% year to date.

–Andrew Kessel

Abbott shares jump after baby food ruling

2 hours 27 minutes ago

Abbott Laboratories shares (ABT) rose sharply on Friday, a day after a jury cleared infant formula makers of responsibility for a boy’s debilitating intestinal illness.

Thursday’s decision by a Missouri jury is a rare legal victory for Abbott Laboratories, maker of the Similac formula, and British-Dutch company Reckitt Benckiser, maker of the Mead Johnson formula, following their losses in similar trials involving necrotizing enterocolitis (NEC). ), a life-threatening disease that affects the colon and intestines.

“This decision confirms what we, the medical community and regulators have said: foods for premature babies are safe and there is no reliable scientific evidence that they cause or contribute to NEC,” Abbott said in a statement to Investopedia.

“This is the first victory for the two companies in the NEC state case since Abbott was ordered to pay $495 million in July in the case of Gill and Mead Johnson of Reckitt – $60 million in March in the case of Watson,” UBS analysts wrote on Friday.

Abbot shares rose more than 5% in recent trading.

–Nisha Gopalan

It’s been a wild week for Trump’s media stocks.

3 hours 21 minutes ago

Trump Media & Technology Group shares (JT), which was majority owned by former President Donald Trump, was down slightly recently at around $35. The stock is up 40% this week from last Friday’s closing price of around $39 and is down nearly 15% below that level. This has meant large fluctuations in the market value of the Republican presidential candidate’s controlling stake, which is nevertheless worth billions of dollars.

And this is some of the current news about the company that operates the Truth Social platform. Instead, traders have used the story as a way to bet on the outcome of the presidential election, which is widely seen as a race between Trump and Democratic Vice President Kamala Harris.

Opinion polls generally point to a tight race ahead of Election Day.

In some prediction markets, speculators appear to have a stronger belief in the likelihood of a Trump win: on Polymarket, for example, traders have generally maintained a Trump win probability of over 60% for much of this week; on some other platforms these odds were slightly lower. (Here Investopedia election betting guide,)

Meanwhile, Trump Media stock has seen a sharp turnaround, with stock trading halted several times this week due to volatility. At one point, the stock was trading at levels not seen since the bright days following its debut on the public markets earlier this year.

They have now returned to July levels after falling from October lows.

–David Marino-Nachison

Boeing shares rise after new union deal

4 hours 34 minutes ago

Boeing (bachelorShares rose in premarket trading Friday after the plane maker reached a tentative agreement with its machinists union on a new contract, potentially ending a crippling crisis. seven week strike.

The International Association of Machinists (IAM) is asking its members to approve Boeing’s watered-down proposal in a vote on Monday. Their members have been on strike since September 13.

“There is a point in every negotiation and strike where we have extracted all we can by negotiating and giving up labor,” IAM District 751 said Thursday. “We are at this stage now and risk a regressive or lesser proposal in the future.”

The new proposal includes a total wage increase of 38% over four years, higher than previous sentence 35%. That figure “represents 43.65% over the life of the agreement,” the union said. The new proposal would also give workers the option of a one-time ratification bonus of $12,000; 401(k) contribution; or “a combination of both,” the union said.

The strike was painful for Boeing. raising billions of dollars to stop the leakage of funds. Chief Executive Officer (CEO) Kelly Ortberg, who took office in August, said in a memo to employees last month that the plane maker plans to lay off about 10% of its workforceor 17,000 workers “in the coming months” and is delaying the launch of its first 777x airliner.

Boeing shares, which rose 2% in premarket trading, had lost more than 40% of their value this year through Thursday’s close.

–Nisha Gopalan

Amazon Price Levels to Watch After Earnings Surge

5 hours 26 minutes ago

Amazon (AMZN) Shares rose more than 7% in premarket trading after the company beat Wall Street’s third-quarter profit estimates.

The stock is poised to break out of the symmetrical triangle following the company’s better-than-expected quarterly report.

Investors should keep an eye on key overhead price levels on the Amazon chart around $200, $242 and $273, as well as keep an eye on the important support area during profit-taking periods around $192.

Read more part of technical analysis here.

–Timothy Smith

Stock futures rise ahead of jobs report

5 hours 47 minutes ago

Dow Jones Industrial Average futures rose 0.4%.

S&P 500 futures also rose 0.4%.

Nasdaq 100 futures also rose 0.4%.