Market Overview - The US stock market is experiencing continued selling pressure, with the Dow down approximately 130 points, representing about a quarter of 1%, the S&P 500 down about 0.67%, and the Nasdaq down about 1.2% [2][3][4] - The Nasdaq composite has declined by 4% over the week, indicating a pause in the upward momentum of large-cap tech stocks amid valuation concerns [4][5] Labor Market Insights - October saw 150,000 layoffs announced, with private sector payrolls rising by only 42,000 according to ADP data, suggesting a slowdown in hiring [10][14] - Consumer sentiment is low, with Michigan sentiment coming in at 50.3%, the lowest since June 2022, indicating a decline in economic conditions [8][20] Company-Specific Developments - Nvidia shares are down 3% due to the CEO's announcement regarding halted chip shipments to China and potential government restrictions [5][6] - Tesla shares fell 3.5% after shareholders approved Elon Musk's significant pay package [7] - DraftKings reported a miss in third-quarter earnings and cut its full-year revenue forecast, although shares rose post-announcement [40][41] Economic Impact of Government Shutdown - The government shutdown has led to significant disruptions in air travel, with over 800 flights canceled as the FAA cuts flight capacity by 4% [30][31] - Economic growth in the last quarter could be halved due to the shutdown, although some effects may be temporary and recoverable [25][26] Sector Performance - Energy and consumer staples sectors are rising, while technology and communication services are lagging [7] - The overall market sentiment reflects concerns over inflation and a slowing labor market, contributing to a challenging economic environment [20][24]

Market Overview - The Nasdaq composite fell sharply by 1.9%, hitting its 50-day moving average, while the S&P 500 lost 1.1% and the Dow Jones slipped 0.7% [17][14] - The Innovator IBD 50 ETF, which tracks leading growth names, plunged 3% after breaking below its own 50-day average [17][13] - Market breadth weakened, with Nasdaq decliners outpacing advancers 2-to-1, indicating a significant pullback from tech stocks [15][17] Consumer Sentiment and Economic Indicators - The University of Michigan's consumer sentiment index dropped to 50.3, missing expectations of 53.2, signaling a decline in economic confidence [12][17] - Inflation expectations increased to 4.7% from 4.6%, indicating renewed concerns about household spending and price pressures [12][17] Company Earnings and Stock Performance - Take-Two Interactive's stock crashed 9% after delaying the release of Grand Theft Auto 6 until November 2026, despite profits doubling to $1.46 per share on $1.77 billion revenue, up 31% [10][17] - Expedia surged 17% on record bookings and strong earnings, while Akamai jumped 11% after positive results [11][17] - Century Aluminum gained 14% after reporting 17% quarterly revenue growth to $632 million [11][17] AI Sector and Market Sentiment - Major AI stocks like Nvidia and Palantir have seen substantial declines, contributing to a broader market correction, with Nvidia dropping over 4% after the U.S. blocked sales of its AI chips to China [9][17] - The AI bubble shows signs of bursting, with the Bloomberg AI Index correcting about 4% after a previous surge of 30-40% [3][17] - Analysts warn that the market may have outrun fundamentals, leading to rapid deleveraging and valuation resets in AI-heavy sectors [6][17] Regulatory and Legal Risks - Regulatory pressures and legal risks are expected to increase, potentially accelerating the deflation of premium AI stock valuations [7][17] - Analysts caution that continued weakness in leading growth names could lead to a broader market correction of 10-20% or more if earnings disappoint or economic conditions worsen [7][17]

Market Overview - The markets are set to end the week in the red, with the NASDAQ down about 0.7%, the S&P 500 down about 0.5%, and the Dow down about 0.4% at the open [4][6] - Bitcoin is hovering around $100,000, down nearly 2.5%, while Ethereum is down 3.8% [4][5] - The tech sector is experiencing a selloff, particularly in AI stocks, which are falling from recent highs [6][8] Cryptocurrency Trends - Bitcoin is facing a decline of 9% this week, marking its worst week since March, attributed to long-term holders selling off [14][16] - The market is currently in a bear phase, with predictions that Bitcoin could drop further into the $70,000 range if it breaks the $93,000 support level [16][18] - Potential catalysts for a market turnaround include possible Federal Reserve rate cuts and the reopening of the government [18] Tesla Developments - Tesla's shareholders approved a nearly $1 trillion pay package for CEO Elon Musk, but the stock is down nearly 5% following the news [19][20] - Analysts express skepticism about Tesla's future performance, citing potential drops in vehicle sales starting in Q4 [22][23] Government Shutdown Impact - The ongoing government shutdown is causing economic disruptions, including flight cancellations and delays in economic data, which could impact GDP and consumer confidence [25][26] - Businesses are already facing uncertainty due to tariffs, and the prolonged shutdown is compounding these challenges [27][29] Retail Sector Insights - Retailers are expected to hire between 265,000 to 365,000 seasonal workers, significantly lower than the 442,000 hired last year [59][60] - Consumer demand is reportedly weaker, with retailers needing to keep prices modest to attract shoppers during the holiday season [34][62] Labor Market Analysis - Private sector data shows a mixed picture of the labor market, with healthy job creation reported by ADP but a spike in layoffs noted in the Challenger report [50][55] - Despite heavy investments in AI, job losses in information and financial services are increasing, indicating that AI's impact on job creation may not be as positive as anticipated [56][58]

分组1: Expedia - Expedia's stock surged following its quarterly earnings report, with a notable increase of 14% in early trading [7][8] - The company reported adjusted EPS of $7.57, exceeding the expected $6.92, and revenue for Q3 was $4.41 billion, surpassing the forecast of over $4.25 billion [2][3] - Expedia raised its 2025 outlook for both revenue and margins, indicating strength in the travel sector and consumer willingness to travel [3][4] - The business-to-business segment saw a significant growth of 26%, highlighting its importance as a growth engine [4][5] - Travel trends showed room nights grew at the fastest pace in three years, with international markets, particularly Asia, leading the growth at over 20% [5][6] 分组2: Airbnb - Airbnb also reported strong earnings, with shares rising nearly 2% after a volatile period, although not as strong as Expedia [7][8] - Adjusted EPS was $2.21, which was a miss, but revenue came in at $4.09 billion, better than expected [8][9] - Nights and experiences booked reached over 133 million, up 9%, and gross booking value increased by 14% year-over-year to $22.9 billion, indicating strong traveler spending [9][10] - For Q4, Airbnb projected revenue between $2.66 billion and $2.72 billion, suggesting stability in demand ahead of the holiday season [10][11] - The company is focusing on four growth pillars, including improving core services and integrating AI into its offerings [11][12] 分组3: Take-Two Interactive - Take-Two Interactive's stock fell over 4% following the announcement of a delay for Grand Theft Auto 6, now scheduled for November 2026 [13][14] - The company reported adjusted EPS of $1.46, beating expectations of $0.93, and revenue of $1.96 billion, a 23% year-over-year increase [14][15] - Despite strong performance from other titles like NBA 2K 26 and Red Dead Redemption 2, the delay of GTA 6 overshadowed the positive earnings report [15][16]

Group 1 - Take-Two Interactive's shares are falling due to the delay of Grand Theft Auto 6, which was initially scheduled for release this fall and has faced multiple delays [1] - Airbnb's shares are rising after reporting mixed third-quarter results and providing upbeat revenue guidance [1] - Affirm's shares are jumping after the company beat earnings and revenue expectations [1] Group 2 - The CEO of Affirm, Max Levchin, will be interviewed on Squawk on the Street, indicating significant interest in the company's performance [2] - Block, a fellow fintech company, is experiencing a decline in shares after missing both earnings and revenue expectations for the fourth consecutive quarter [2] Group 3 - Ford is reportedly considering discontinuing the electric version of its F-150 pickup truck, with expectations of declining EV sales following the expiration of government tax credits [3]

Welcome back to Squawkbox. Five things to know ahead of the opening. Bell shares of video game maker Take 2 Interactive falling after the company said its upcoming Grand Theft Auto 6 would be delayed again.It was initially scheduled for release this fall, but has now faced multiple delays. Meanwhile, Airbnb shares rising after the company reported mixed third quarter results and upbeat revenue guidance. and shares of fintech firm a firm jumping after the company beat earnings and revenue expectations.We're ...

Group 1: Tesla and Shareholder Meeting - Tesla's annual shareholder meeting is underway, with a focus on the approval of Elon Musk's $1 trillion pay package, which is contingent on meeting specific operational and market cap goals [26][48]. - Analysts expect the pay package to be approved, as Tesla's shareholder base largely consists of retail investors who believe in Musk's vision for the company [28][30]. - The pay package includes performance metrics such as delivering 20 million Teslas, deploying 1 million robo-taxis, and achieving $400 billion in adjusted EBITDA over four quarters [48][49]. Group 2: Advertising Market Trends - The advertising market is experiencing a shift, with companies increasingly investing in performance marketing, particularly in the streaming TV sector [3][6]. - Mountain, an adtech company, reported a 31% increase in revenue, driven by the adoption of performance TV and AI technologies [3][12]. - Advertisers are expected to spend aggressively in Q4, capitalizing on the holiday season, which is crucial for e-commerce and direct-to-consumer brands [7][12]. Group 3: Sweet Green's Earnings Report - Sweet Green's third-quarter results fell short of expectations, with an adjusted earnings loss of 31 cents per share compared to the anticipated loss of 18 cents [19][20]. - Revenue for Sweet Green was approximately $172 million, below the expected $178 million, and same-store sales declined by 9.5% [19][21]. - The company has cut its guidance for fiscal year 2025, now expecting same-store sales growth to decline between 7.7% to 8.5% [21][22].

Company Performance - Take-Two Interactive Software (TTWO) reported adjusted earnings of $1.46 per share on net bookings of $1.96 billion for the fiscal second quarter, significantly exceeding analyst expectations of $0.94 per share and $1.73 billion in net bookings [2][3] - Year-over-year, Take-Two's adjusted earnings increased by 121%, while net bookings rose by 33% [3] - The company's strong performance was attributed to successful titles like "NBA 2K6" and mobile games such as "Toon Blast" and "Match Factory" [3] Game Release Delay - Take-Two announced a six-month delay for the release of "Grand Theft Auto 6," moving the launch date from May 26 to November 19, to allow the development team more time to enhance the game's quality [2][3][6] - The CEO emphasized the importance of delivering a polished product to meet player expectations [6] Future Guidance - For the current quarter, Take-Two anticipates adjusted earnings of $0.80 per share on net bookings of $1.58 billion, compared to Wall Street's expectations of $0.76 per share and $1.49 billion in net bookings [4] - The company raised its full fiscal year net bookings target to a range of $6.4 billion to $6.5 billion, up from analyst expectations of $6.18 billion, indicating a projected growth of 14% over fiscal 2025 [5] - Take-Two also guided for adjusted earnings of $3.17 per share for the full year, surpassing the consensus estimate of $2.90 [5] Stock Market Reaction - Following the earnings report and game delay announcement, TTWO stock fell over 7% in after-hours trading, closing at $233.75, after a 0.9% decline during the regular session [6]

Core Viewpoint - The delay of Grand Theft Auto 6 has significantly impacted the company's stock performance, leading to a nearly 11% drop in shares [3]. Group 1: Game Release Impact - Grand Theft Auto 6 has been delayed from May 26, 2025, to November 2026, marking the second delay for this highly anticipated game [1]. - The delay does not affect the current fiscal year, but future guidance for the next fiscal year may be adjusted due to this change [2]. Group 2: Market Reaction - The stock has reacted negatively to the news of the delay, with shares down nearly 11% [3]. - Despite the delay, the game is expected to be a major seller upon release, reflecting high anticipation from consumers [2].

out and that stock is tanking too. So Steve Kovak has those numbers. Steve.>> Yeah. Let me tell you why here, Morgan. It's not because of the quarter that they just reported.Those numbers look good. It's the further delay of Grand Theft Auto 6. It was supposed to come out of May 26 next year.They're now delaying that to November of 2026. This is the second delay for this game. And so you see shares reacting there.This does not affect their current fiscal year, but you can imagine that once we get guidance f ...