Earnings live: Salesforce stock rises on upbeat guidance, Snowflake tumbles, American Eagle surges

Core Insights - The Q3 earnings season has shown solid results, with a projected 13.4% increase in earnings per share for S&P 500 companies, marking the fourth consecutive quarter of double-digit growth [2][41] - Retailers are reporting mixed results, reflecting the impact of softening consumer sentiment as the holiday shopping season approaches [4][19] Earnings Reports - Dollar General: Reported fiscal Q3 earnings that exceeded Wall Street expectations, resulting in a 4% stock increase [5] - Five Below: Achieved a 23.1% year-over-year increase in net sales to $1 billion, with earnings per share of $0.66, surpassing estimates of $0.26 [7][8] - Snowflake: Revenue grew 29% year-over-year to $1.15 billion, but guidance fell short of expectations, leading to an 8% drop in stock [10][11][13] - Salesforce: Reported Q3 earnings per share of $3.25, beating estimates, and revenue of $10.27 billion, which was in line with expectations [14] - Dollar Tree: Revenue increased 9.4% to $4.75 billion, with adjusted earnings per share of $1.21, exceeding expectations [16][18] - Macy's: Revenue of $4.7 billion was slightly above estimates, with adjusted earnings per share of $0.09, better than the expected loss [19][20] - American Eagle Outfitters: Reported a profit per share of $0.53, exceeding estimates, and revenue increased by 6% year-over-year [25][26] - CrowdStrike: Revenue rose 22% to $1.23 billion, leading to an increase in full-year guidance [28][29] - Okta: Revenue rose 12% to $742 million, beating estimates, with adjusted profit per share of $0.82 [32] - Marvell: Reported earnings per share of $2.20 on revenue of $2.07 billion, but stock fell 6% after announcing an acquisition [33][34] Market Reactions - Despite solid earnings, market reactions have been more subdued than usual, with stocks of companies beating earnings expectations rising only 0.4% on average, below the five-year average of 0.9% [41][42] - Companies missing earnings estimates have seen an average stock decrease of 5%, significantly higher than the five-year average decline of 2.6% [43]