{"id":74321,"date":"2023-10-19T05:39:11","date_gmt":"2023-10-19T09:39:11","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/tesla-netflix-taiwan-semi-sap-las-vegas-sands-att-and-more-market-movers\/"},"modified":"2023-10-19T05:39:14","modified_gmt":"2023-10-19T09:39:14","slug":"tesla-netflix-taiwan-semi-sap-las-vegas-sands-att-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=74321","title":{"rendered":"Tesla, Netflix, Taiwan Semi, SAP, Las Vegas Sands, AT&T, and More Market Movers"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Stock futures were lower Thursday\u00a0after the
\n S&P 500
\n tumbled 1.3% during the previous session as bonds continued to sell off. The yield on the 10-year U.S. Treasury stood at 4.971% early Thursday, edging closer to 5% for the first time since 2007.\u00a0<\/p>\n

Rising yields will mean any remarks from Federal Reserve Chairman Jerome Powell Thursday about interest rates at an event in New York will get outsized attention.<\/p>\n

\n

These stocks were poised to make moves Thursday:\u00a0<\/p>\n

\n Tesla
\n (TSLA) reported third-quarter adjusted earnings of 66 cents a share that missed analysts\u2019 forecasts and revenue that rose 9% from a year earlier to $23.25 billion but still came in under estimates. Shares of the electric-vehicle maker fell 5.2% after CEO Elon Musk tempered expectations about the Cybertruck,
\n Tesla
\n \u2018s electric pickup truck. Some deliveries are expected this year, Musk said, but Cybertruck will take 12 to 18 months before it is a significant profit contributor.<\/p>\n

\n Netflix
\n (NFLX) surged 14% after the streaming company reported third-quarter earnings that handily topped Wall Street estimates, revenue that was in line, and paid subscription net additions of about 8.8 million versus forecasts of 6.1 million, a result of the company\u2019s crackdown on password sharing.
\n Netflix
\n announced it was raising monthly prices of its U.S. premium plan to $22.99 from $19.99, and its basic plan to $11.99 from $9.99.<\/p>\n

American depositary receipts of Taiwan Semiconductor Manufacturing (TSM) rose 2.2% after the world\u2019s largest contract chip maker said it expects fourth-quarter revenue of between $18.8 billion and $19.6 billion, higher than $17.3 billion in the previous quarter.\u00a0<\/p>\n

U.S.-listed shares of
\n SAP
\n (SAP) surged 5% after the German business-software company\u2019s third-quarter operating profit and revenue topped analysts\u2019 estimates, fled by growth at its core cloud business.<\/p>\n

\n Lam Research
\n (LRCX) declined 2.8% after its outlook disappointed. The memory chip equipment maker said it expects fiscal second-quarter earnings of $6.03 to $7.53 a share on revenue of $3.4 billion to $4 billion. Analysts had been looking for earnings of $6.77 a share on revenue of $3.65 billion.<\/p>\n

\n Las Vegas Sands
\n (LVS) posted third-quarter earnings of 50 cents a share, below consensus forecasts of 55 cents but revenue jumped to $2.8 billion from $1.01 billion a year earlier. The casino operator also announced its board approved a buyback program of $2 billion through 2025. The stock jumped 5.2%.<\/p>\n

\n Nokia
\n (NOK) shares fell 3.8% in the U.S. after the Finnish telecommunications company set out plans to cut its workforce by up to 14,000 after it reported a steep drop in third-quarter profit. <\/p>\n

\n Equifax
\n (EFX), the credit-score agency, reduced its outlook for 2023, blaming a weak mortgage market. \u201cWe expect the weaker U.S. mortgage market at current high interest rates to continue in the fourth quarter,\u201d
\n Equifax
\n said, adding it expects full-year Equifax mortgage-credit inquiries to decline about 34%.<\/p>\n

\n Discover Financial
\n (DFS) reported third-quarter earnings of $2.59 a share, well below Wall Street estimates of $3.17. The credit-card company\u2019s provision of credit losses was $1.7 billion during the quarter, a $929 million increase driven by a reserve build that rose $297 million. Discover shares fell 2.9%.<\/p>\n

\n Foot Locker
\n (FL) was downgraded to Sell from Neutral at
\n Goldman Sachs
\n with a price target of $18, the Fly reported.
\n Foot Locker
\n fell 5.2% to $20.81.<\/p>\n

Earnings reports are expected Thursday from
\n AT&T
\n (T),
\n Philip Morris
\n (PM),
\n Union Pacific
\n (UNP),
\n CSX
\n (
\n CSX
\n ),
\n Blackstone
\n (BX),
\n American Airlines
\n (AAL),
\n Alaska Air
\n (ALK),
\n Intuitive Surgical
\n (ISRG),
\n Freeport-McMoRan
\n (FCX),
\n Truist Financial
\n (TFC), and
\n KeyCorp
\n (KEY).<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stock futures were lower Thursday\u00a0after the S&P 500 tumbled 1.3% during the previous session as bonds continued to sell off. The yield on the 10-year U.S. Treasury stood at 4.971% early Thursday, edging closer to 5% for the first time since 2007.\u00a0 Rising yields will mean any remarks from Federal Reserve Chairman Jerome Powell Thursday […]<\/p>\n","protected":false},"author":1,"featured_media":74322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-74321","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nTesla, Netflix, Taiwan Semi, SAP, Las Vegas Sands, AT&T, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stock futures were lower Thursday\u00a0after the S&P 500 tumbled 1.3% during the previous session as bonds continued to sell off. 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