RT Iain Martin (@_IainMartin)Luca Ferrari bought his first app a decade ago for just $10k with the hope that he could turn it around. A decade later, Ferrari has become one of tech’s biggest dealmakers, and a new billionaire, as his startup raises at $11 billionhttps://t.co/if3kwJY425 ...

Financial Performance - Meta's third-quarter net profit was $27 billion, significantly lower than analyst expectations [1] Market Trends - Meta's pre-market decline widened to nearly 10% [1] - The company plans to raise at least $25 billion through bond issuance [1]

Core Insights - The US stock market in 2025 is experiencing unprecedented volatility, with 119 trading sessions where a company's market capitalization changed by over $100 billion in a single day, compared to only 42 such instances in 2024 and fewer than 10 in 2020 [1][4] Group 1: Market Dynamics - The surge in volatility is primarily driven by mega-cap technology companies, with Nvidia, Microsoft, Apple, Amazon, and Alphabet each valued above $2.5 trillion, and Nvidia recently surpassing $5 trillion [2] - A mere 3% change in share price for these companies can result in a value change of over $150 billion [2] - Historical data shows that between 2010 and 2020, there were fewer than 25 instances of such significant single-day market changes, highlighting the dramatic increase in 2025 [4] Group 2: Contributing Factors - Analysts attribute the "$100 B Whiplash Effect" to three main factors: market concentration, with the top ten companies now accounting for over 36% of S&P 500 capitalization (up from 24% in 2019) [5] - Increased trading in options, with a nearly 70% year-on-year rise in retail and institutional trading, amplifying market movements [5] - The presence of algorithmic feedback loops, where simultaneous reactions to headlines can lead to rapid shifts in sentiment and exposure across the market [5] Group 3: Market Structure and Behavior - Despite the S&P 500 remaining near record highs at around 6,880 points, breadth indicators reveal that over 60% of S&P constituents have declined on several occasions, indicating that only a few mega-caps are supporting the index [6] - Economists warn that the growing sensitivity in the market signifies a fundamental shift, where liquidity and investor positioning are driving price actions more than traditional metrics like earnings [7] - The "Elastic Market Effect" describes a market that is overly reactive, where even minor shocks can lead to significant systemic impacts due to the dominance of a few companies [8] Group 4: Implications for Investors - Investors are currently benefiting from the rally in technology shares, but the record number of massive single-day moves indicates a fragile confidence that could easily reverse [9] - The data suggests that the market has become more brittle, with rapid expansions and contractions in value, reflecting the immense scale and sensitivity of the current financial landscape [11]

Core Insights - Gibraltar Industries reported a strong performance in Q3 2025, with net sales increasing by 12% to $310.9 million and adjusted net sales up 13% to $310.9 million compared to Q3 2024 [1][4] - The company experienced a 50% increase in backlog, reaching $257 million, and operating cash flow grew by 39% to $57 million [1][2] - The outlook for 2025 has been narrowed, with expected net sales between $1.15 billion and $1.175 billion, and GAAP EPS projected between $3.67 and $3.77 [1][13] Financial Performance - Net income for Q3 2025 was $33.2 million, a decrease of 1.8% from $33.8 million in Q3 2024, while adjusted net income fell by 3.7% to $34.0 million [4][5] - Diluted EPS increased slightly by 0.9% to $1.11, while adjusted diluted EPS decreased by 0.9% to $1.14 [4][5] - The residential segment saw net sales of $230.3 million, an increase of 8.4%, while the Agtech segment reported a significant 38.8% increase in net sales to $57.6 million [6][9] Segment Analysis - In the residential segment, the building accessories business grew by 2% despite a market decline of 5% to 10%, while metal roofing performed as expected [6][2] - The Agtech segment's revenue was impacted by a delayed large controlled environment agriculture project, but total backlog increased by 96% [9][10] - The infrastructure segment experienced a slight decline in net sales by 0.4% to $23.1 million, attributed to a supplier transition affecting revenue timing [11][12] Business Outlook - The company anticipates approximately 15% adjusted net sales growth and 10-12% adjusted EPS growth for the full year 2025 [2][13] - The focus remains on executing growth and M&A strategies, alongside a share repurchase program [13]

Group 1 - Carvana reported adjusted Q3 earnings per share of $1.50, reflecting a 134% increase compared to the previous year [1] - Revenue for Carvana surged 55% to $5.65 billion, marking the second consecutive quarter of accelerating growth [1] - Despite strong earnings, Carvana's stock sold off late Wednesday due to pressure on margins [1] Group 2 - Carvana was highlighted as the IBD Stock of the Day, briefly surpassing a cup-with-handle buy point following an analyst upgrade to buy [2] - The stock market experienced fluctuations, with indexes swinging lower while Amazon rose ahead of earnings and Apple faded [4] - Carvana's stock surged 20%, topping its buy point as earnings soared [4]

Core Insights - Zebra Technologies is a key player in the industrial products sector, specializing in barcode printing, mobile computing, and data capture, and is focused on maintaining its competitive edge through innovation and strategic investments [1] Investment Outlook - Truist Financial has set a price target of $331 for Zebra Technologies, indicating a potential upside of nearly 20% from its current trading price of approximately $276, reflecting confidence in the company's market position and growth prospects [2] - Asset Management One Co. Ltd. increased its holdings in Zebra Technologies by 1.7% during the second quarter, now owning 21,676 shares valued at around $6.7 million, showcasing strong belief in the company's future performance [3] Investment Activity - Other investors, such as Trust Co. of Toledo NA OH and Zions Bancorporation National Association UT, have initiated new positions in Zebra Technologies, with investments valued at approximately $25,000 and $27,000 respectively, indicating growing interest in the company's potential [3] Stock Performance - Zebra Technologies' stock is currently priced at approximately $274.53, with a slight increase of 0.08% or $0.22, and has experienced fluctuations with a daily low of $270.30 and a high of $277 [4] - Over the past year, the stock has seen a high of $427.76 and a low of $205.73, reflecting its volatile nature, and the company has a market capitalization of about $13.96 billion with a trading volume of 537,161 shares on the NASDAQ exchange [4]

you own it. Now, this is a stock that I believe is down 34% year-to date. So, if people are wondering why it's up on results that seem more disappointing versus expectations, some of the big tech names, perhaps it's being measured by a different standard, Stephanie.>> Oh, absolutely. Absolutely. Look, I mean, it's hard in general for this industry uh right now from a macro point of view.Um but they're doing the very best that they can. Uh I think that the expectations were for a negative comp uh for the qua ...

Meta said it expects total expenses to significantly increase in 2026, and will continue to invest at historic levels in artificial intelligence https://t.co/4e45ME6lwI ...

Market Overview - The market is experiencing record highs, driven by significant events such as the Fed decision and Nvidia reaching a $5 trillion market cap [1][12] - There is a notable concentration of performance among a narrow set of technology stocks, leading to perplexity among portfolio managers [2][3] Performance Discrepancies - The S&P 500 is outperforming the S&P equal weight index, indicating a disparity in market performance [3][10] - The recent trading day saw the S&P close up 0.23% with a net advanced decline line of -294, marking the worst breadth day for an up day since 1990 [10][11] AI Influence - Companies that adopt AI are seeing productivity increases, which may lead to a positive halo effect, although the overall market breadth remains weak [7][8] - The discussion highlights the potential for AI to drive performance in selective companies, despite concerns about broader market implications [7][8] Economic Cycle Considerations - There is a debate about whether the market is in a late cycle phase, with some arguing that the current economic indicators do not align with typical late cycle behavior [19][21] - The market appears detached from economic realities, with cooling economic activity not reflected in stock performance [24][25] Future Outlook - The upcoming earnings reports from major companies are anticipated to influence market dynamics, with a focus on large-cap stocks [12][18] - The potential for rising unemployment and its impact on consumer spending is a significant concern for the market moving forward [9][26]

Layoffs - Amazon to cut 14,000 jobs [1] Technology Trends - Microsoft calls AI 'labor-reducing tech' [1]