Key Takeaways
- The S&P 500 dropped 0.5% on Oct. 27, 2023, falling into correction territory as mixed earnings reports raised new concerns about a potential recession.
- Enphase Energy shares plunged after weak results and a warning about sales in the current quarter, causing shares of others in the solar sector to fall as well.
- Improving sales of PCs helped Intel exceed profit estimates, and the chipmaker raised its outlook.
U.S. equities were mixed Friday 𝐆after the latest batch of financial reports painted a mixed picture of corporate earnings, raisin𝐆g new concerns about a possible recession.
The S&P 500 lost 0.5% and moved into correction territory, down more than 10% from its recent high in July. The S&P 500, Dow, and Nasda♕q were all in negative territory for the week.
澳洲幸运5开奖号码历史查询:Solar power stocks sank after Enphase Energy (ENPH) missed estimates for earnings and revenue. The company also 💞gave weak sales guidance for the current quarter as demand for its solar power equipment and batteries plunged. Shares cratered 14.7%.
Ford Motor (F) shares 澳洲幸运5开奖号码历史查询:plummeted 12.2% after ꧅the carmaker's earnings fell short of expectations and it pulled back its outlook, citing "uncertainty" over the new tentative agreement with the United Auto Workers union to end a strike that has lasted♉ for more than a month.
Charter Communications (CHTR) shares dipped 9.6% as the cable TV service provider lost subscribers because of its 澳洲幸运5开奖号码历史查询:fee dispute with Walt Disney (DIS). Disney shares slid 0.6%.
Chevron (CVX) shares 澳洲幸运5开奖号码历史查询:lost 6.7% as the energy giant's earnings were much lower than anticipated, dragged down by falling oil prices and rising costs. Shares of smaller rival Hess (HES), which Chevron is buying for $53 b🐬illion, 🔥fell 6.5%.
Tech stocks advanced in Friday's session, boosted by Amazon (AMZN). The biggest online retailer's shares jumped 6.8% as its Prime Day sales 澳洲幸运5开奖号码历史查询:lifted earnings and revenue above forecasts.
Intel (INTC) shares gained 9.3% after the chipmaker 澳洲幸运5开奖号码历史查询:beat earnings estimates and posted better𒆙-than-expected current quarter guidance as PC demand improved.
DexCom (DXCM) shares jumped 10.1% as the maker of glucose monitors also reported profit and guidance that exceeded analysts' forecasts. The company indicated the recent boom in demand for weight-loss drugs will actually boost its business.