Key TakeawaysIntel is reportedly seeking investors to take a minority stake in its Altera programmable chipmaking division.CNBC said Intel is seeking a valuation of about $17 billion for Altera stake.Intel bought Altera in 2015. It launched it as a standalone company in February with plans to eventually seek an IPO. Intel (INTC) shares rose Friday, lifted by indications that it is looking for a big outside investment in its Altera programmable chipmaking unit. CNBC late Thursday reported that the company is ...

Key Takeaways Procter & Gamble reported lower sales and net income than analysts expected for the first quarter of fiscal 2025. After accounting for the one-time cost of a restructuring effort in the company's operations in Argentina, P&G's adjusted profit beat estimates. The consumer products giant also affirmed its full-year financial projections. Procter & Gamble (PG) missed sales and net income estimates in its fiscal 2025 first-quarter earnings report Friday morning, but its adjusted profit beat expect ...

Key TakeawaysShares of CVS Health fell sharply Friday morning following the announcement that it is replacing CEO Karen Lynch.Company veteran David Joyner is taking over the top job effective immediately, CVS announced Friday.The pharmacy and healthcare company also gave lower-than-expected profit projections for the third quarter. CVS is scheduled to report earnings next month. CVS Health (CVS) stock tumbled 10% Friday morning after the pharmacy and healthcare giant announced the replacement of Chief Execu ...

Analyst Estimates for Q3 2024Q2 2024Q3 2023Revenue$25.41 billion$25.5 billion$23.35 billionEarnings Per Share48 cents42 cents53 centsNet Income$1.68 billion$1.48 billion$1.85 billion Key Metric: Deliveries Tesla's third-quarter deliveries came in above estimates earlier this month but failed to spark a rally for the stock like last quarter's numbers did. Wedbush Securities analysts said that, following the deliveries report, surpassing estimates was a "step in the right direction," but acknowledged that ...

Key TakeawaysNetflix shares jumped 5% in extended trading on Thursday after the streaming giant topped Wall Street’s third quarter estimates and issued a strong revenue outlook.The stock has traded in a rising wedge since late June, with the price recently retracing to the pattern’s lower trendline and 50-day moving average ahead of the company's quarterly results.Investors should monitor key overhead levels on the Netflix chart around $735 and $860, while also watching key support areas near $688 and $635. ...

Market Overview - The S&P 500 closed less than 0.1% lower on October 17, despite strong retail sales data and a resurgence in AI chip stocks [1] - Major U.S. equities indexes showed mixed results, with the Nasdaq gaining less than 0.1% and the Dow increasing by 0.4% to achieve its second consecutive record close [1] Health Insurance Sector - Shares of health insurance companies declined after Elevance Health missed profit estimates for Q3 and lowered its full-year guidance, attributing the shortfall to declines in Medicaid enrollments [2] - Elevance shares fell by 10.6%, while Molina Healthcare and Centene experienced drops of 12.6% and 9.1%, respectively [2] Company Performance Highlights - Snap-On's shares surged by 10.0% after it reported Q3 results that matched revenue forecasts and exceeded EPS expectations, with a 4% quarter-over-quarter sales growth in its largest segment [3] - Travelers Companies saw its shares increase by 9.0% following a Q3 earnings report that showed a tripling of net income year-over-year, driven by higher premiums and increased investment income [3] - Blackstone reported better-than-expected profits and an increase in assets under management for Q3, leading to a 6.3% jump in its shares; the firm invested over $54 billion during the quarter, the highest in over two years [4]

Group 1 - The Travelers Companies reported better-than-expected profits for the third quarter, leading to a record high in share price, closing at $264.82, a more than 7% increase [1] - The insurer's net income more than tripled year-over-year to $1.26 billion, significantly surpassing analysts' estimates, driven by higher premiums and investment income [1][2] - Travelers' net written premiums reached a record level of $11.3 billion, an 8% increase year-over-year, with growth across all reporting segments [2] Group 2 - Catastrophe losses for the third quarter amounted to $939 million, up from $850 million the previous year, primarily due to Hurricane Helene and severe storms [2] - The consolidated combined ratio improved to 93.2%, a 7.8 percentage point enhancement from the previous year, indicating an underwriting profit [3] - Travelers' shares have increased approximately 39% year-to-date in 2024, outperforming the S&P 500's nearly 23% gain [3]

Netflix (NFLX) reported third-quarter results that topped analysts' estimates on the top and bottom lines, sending shares higher after the bell Thursday. The streaming giant posted third-quarter revenue of $9.83 billion, up 15% from a year ago and above the analyst consensus from Visible Alpha. Net income came in at $2.36 billion or $5.40 per share, compared to $1.68 billion or $3.73 per share a year earlier, also beating projections. Total active subscribers climbed 14% to 282.72 million, just above Stree ...

Core Insights - Zuora, an enterprise software company, announced its acquisition by Silver Lake, a tech-focused private equity firm, for $10 per share in cash, representing a 6% premium over the previous day's closing price, valuing the company at $1.7 billion [1][2] Group 1 - Zuora's shares rose nearly 6% following the acquisition announcement, aligning closely with the offer price [1] - The acquisition deal is expected to close in the first quarter of 2025 [1] - Zuora's review of strategic options led to the bid from Silver Lake and GIC, a Singaporean sovereign wealth fund, being the only final and fully financed proposal received [1] Group 2 - Silver Lake has been active in the market, having previously announced plans to acquire sports media company Endeavor and completed the purchase of Qualtrics in summer 2023 [2]

Key TakeawaysNvidia shares set yet another record high Thursday as concerns earlier this week about a softening in the semiconductor market was eased by TSMC's earnings report.The Taiwanese supplier of chips to Nvidia, Apple, and others reported a huge jump in profit and sales on AI chip demand, and predicted a continuation of that demand in the future.Also boosting Nvidia's stock were comments by billionaire Stanley Druckenmiller that he lamented selling all his shares of the company earlier this year. Sha ...