The Dow had the weakest performance among the three major indexes during Tuesday’s session, primarily due to several declining stocks.
The S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) equity indexes advanced for the second consecutive day.
For the fourth quarter, Coinbase has already generated about $105 million of transaction revenue in October. The company expects Q4 subscription and services revenue to be approximately flat compared to Q3, as well as predicts ‘meaningful’ positive adjusted EBITDA for 2023.
Block provided strong guidance for the full year of 2023 while anticipating the gross profit in the range of $7.44 billion to $7.46 billion.
Apple reported quarterly revenue of $89.5 billion, down 1 percent YoY, and a cash pile of $162.1 billion down from $166.5 billion at the same time last quarter.
There was a recorded rally among several stocks as the Federal Reserve decided that it would leave interest rates untouched.
After all the challenges WeWork has faced, the news about its going bankrupt does not seem surprising. The company did not comment on the announcement yet.
As a result of all the challenges faced by Tesla, its long-time partner Panasonic is also bearing losses. It has lowered its full-year operating profit forecast for its battery unit to ¥115 billion ($771 million) from ¥135 billion, as the demand for Tesla EVs in North America slowed down.
The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets.
Following the Q3 2023 report, Intel stock rose by more than 7% in after-hours trade, after closing the session at $32.52 per share. As of the press moment, Intel stock is trading at $35.15. Its market cap has hit $137.49 billion. Year-to-date, Intel shares are 23.04% up.
For the fourth quarter that involves the key holiday season, Amazon has given its sales forecast to be between $160 billion and $167 billion.
IBM’s Software unit delivered $6.27 billion in revenue registering an 8% surge in Q3 2023. The company has given an optimistic outlook for Q4 as well.
For the three months that ended on September 30, Meta reported about 2.09 billion daily active users (DAU), while analysts surveyed by StreetAccount expected around 2.07 billion.
Visa stock is up by about 23% over the past 12 months and only slightly down from July 2021’s all-time high of $252.67.
Alphabet’s efforts to integrate generative AI technology into more products have been noticeable since the launch of OpenAI’s ChatGPT chatbot late last year.