CWEB, the American multinational media news company, has published its latest roundup of news for October 25, summarizing the important events and highlights from across industries and around the world.
The following are the main highlights as reported in the review:
Stocks fell on Wednesday after investors processed Microsoft’s (MSFT) and Alphabet’s (GOOG, GOOGL) mixed quarterly earnings reports. More earnings reports are expected to come out later this week. The Nasdaq Composite lost more than 1%, while the S&P 500 dropped 0.6%, and the Dow Jones Industrial Average rose more than 0.2%.
Despite a flood of earnings reports from both the United States and Europe, European markets remained neutral on Wednesday afternoon. Despite a negative start to the day and diverging performance among market sectors, the stock market ended virtually unchanged.
After the software giant reported fiscal first-quarter results and quarterly revenue guidance that topped Wall Street estimates, Microsoft shares soared as much as 6% in extended trading on Tuesday. The company also saw a rise in profit as a result of the slowing rate of increase in operational expenses.
Alphabet’s third-quarter revenue increased by 11% year over year, as an advertising recovery drove growth into double digits. As the cloud company fell short of expectations, the stock price fell about 7% in after-hours trading.
On Wednesday, Amazon announced that it would be launching Amazon Web Services (AWS) in Europe as a sovereign cloud for government and companies in highly regulated industries. According to a statement released by Amazon Web Services, data stored in the sovereign cloud would be kept on servers within the European Union, and only AWS staff based in the EU will be in charge of the operations and provide support.
A young scientist from a middle school in the United States has been recognized as “America’s top young scientist” for creating a bar of soap that may be effective in the treatment of melanoma, a kind of skin cancer that affects around 100,000 people annually in the United States and kills about 8,000.
After the market closed on Tuesday, Snap (SNAP) announced its financial results for the third quarter, showing a rise in both revenue and profit.
Apple has announced it will support the nationwide “right to repair” movement. Following the passage of California’s strict “right-to-repair” law, the consumer tech giant announced it will make the necessary parts, equipment, and documentation for repairing its products available to independent repair shops and consumers across the country.
The owner of WordPress.com has expanded with the purchase of Texts.com. Automattic, the organization responsible for WordPress and Tumblr, is expanding its holdings. It has just been disclosed that it has paid $50 million to acquire Texts.com, a messaging software that integrates all of a user’s other messaging apps into a single dashboard.
Earnings reports from Meta Platforms (META), T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), Boeing (BA), and General Dynamics (GD) are highlighted for Wednesday, October 25.
Amazon.com (AMZN), Mastercard (MA), Merck & Co. (MRK), Intel (INTC), Altria (MO), Chipotle Mexican Grill (CMG), Northrop Grumman (NOC), and UPS will all report earnings on Thursday, October 26.
Exxon Mobil (XOM), Chevron (CVX), AbbVie (ABBV), and Charter Communications (CHTR) are in the limelight for their earnings reports on Friday, October 27.
Stocks to watch with positive momentum and Buy Rating:
SNDL Group (SNDL), Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Facebook (META), Tesla (TSLA), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)SNAP INC (SNAP)
Read the full newsletter online: https://www.cweb.com/cweb-news-summarized-breaking-business-and-stock-newsletter-october-25-2023/
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