Dow🦋 Drops on Interest Rate Worries, Higher ⛄Bond Yields

The 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average fell 220 points, or about 0.7%, Thursday while Treasury yields climbed as 澳洲幸运5开奖号码历史查询:Fed Chair Jerome Powell in a speech rei🤪terated the central bank’s willingness to press harder on the economy if🍌 inflation proves stickier than expected.

Walt Disney Company (DIS) shares jumped 6.9% after its 澳洲幸运5开奖号码历史查询:quarterly earnings of $0.82 a share beat Wall Street’s estimates. Shares also got a boost from the end of the 澳洲幸运5开奖号码历史查询:118-day actors strike.

Boeing (BA) shares moved higher by 0.8% while shares of Honeywell (HON) inched up about 0.1%. UnitedHealth Group (UNH) gained 0.4% and Procter ꦜ& Gamble rose 0.2%.

Amgen (AMGN) shares dropped 3.4%. The healthcare sector was the session’s worst performer, tumbling more than 2൩%.

Shares of Home Depot (HD) fell 2.7%, puttin🥃g it nearly 9% lower year-to-date ahead of its earnings report next Tuesday. 

Walgreens Boots Alliance (WBA) lost 2.6%, falling for the eighth time in the last 10 se🐬ssions.

Microsoft (MSFT) shares declined 0.7%, breakin♕g a nine-session winning streak and retreating from yesterday’s all-time𝓰 high.

Shares of Intel (INTC) fell 0.3%. Bloomberg today reported that the chipmaker is one of several companies backing artificial intelligence (AI) startup Stability AI, which is most widely known for its Stable Diffusion image-generating software.

-Terry Lane

Blackrock May Be Considering an Eth⛄er ETF, Ether Price Jumps

Cryptocurrency market observers are wondering if a spot Ether 澳洲幸运5开奖号码历史查询:exchange-traded fund (ETF) could be in the works from Blackrock (BLK), which filed for a co🌺rpor🧔ation named "iShares Ethereum Trust" in Delaware.

Blackrock made a similar move with iShares Bitcoin Trust roughly one week before applying for a 澳洲幸运5开奖号码历史查询:spot Bitcoin ETF with the 澳洲幸运5开奖号码历史查询:U.S. Securities and Exchange Commission (SECꦓ).

A number of futures-based Ether ETFs were launched roughly one month ago, but they have 澳洲幸运5开奖号码历史查询:failed to gain much traction. At this time, it is unclear if Blackrock's potential Ether ETF would be based on futures o꧃r spot offerin🧸gs.

The price of Ether (ETH/USD) spiked roughly 7%, passing $2,000 for the firsﷺt time since July.

-Kyle Torpey

Fed "Will Not Hesitate" To Raise Rates if Needed, Powell Says

Fed Chair Jerome Powell, in a speech at an event hosted by the International Monetary Fund in Washington D.C., said the central bank is committed to returning inflation to its 2% target, but that policymakers are "not confident" they've tightened policy enough to do that.

"If it becomes appropriate to tighten policy further, we will not hesitate to do so," Powell said. "We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data, and the risk of overtightening."

Stocks, which sank 🅠earlier in the afternoon, continued to slide as Powell commenced his speech.

AstraZeneca Strikes a Deal fo🦂r an Experimental Weight-Loss Drug and Boosts Its Guidan🎀ce

AstraZeneca (AZN) 澳洲幸运5开奖号码历史查询:announced a deal for an experimental weight-loss pill and raised its guidance on higher demand for its cancer treatments.

The Anglo-Swedish drug maker said it struck a licensing agreement with Shanghai-based Eccogene for its ECC504 once-daily oral treatment to reduce weight, which showed promise in a Phase 1 study. In addition, ECC504 is designed to treat type 2 diabetes and other cardiometabolic diseases.

The announcement came a day after Eli Lilly (LLY) received U.S. regulatory approval for Zepbound, an injectable medicine to help people lose weight. Market demand has been soaring for diabetes drugs such as Eli Lilly's Mounjaro and Novo Nordisk’s (NVO) Ozempic and Wegovy🧸, which have been shown to help patients shed pounds. 

澳洲幸运5开奖号码历史查询:American depositary receipts of AstraZeneca rose over 2% in early trading Thursday following the news but ♚remained lower for the year.

-Bill McColl

Midday Market Movers

TransDigm Group Inc. (TDG): Shares of the aerospace and defense company jumped 9% after it said fourth-quarter earnings increased nearly 50% year-over-year,🍃 beating analyst estimates. 

Fair Isaac Corp. (FICO): Shares of the software company rose more than 3% after it reported double-digit earnings and revenue gr꧅owth in the quarter ended Sept. 30, and forecasted similar growth in the 2024 fiscal year.

Veeva Systems Inc. (VEEV): Shares of the health sciences software provider fell more than 11% after it lowered its third-quarter revenue and earnin𒆙gs guidance, citing “a negative macro environment.”

Becton Dickinson & Co. (BDX): Shares of the medical technology company lost more than 7% after its fourt♌h-quarter revenue and earnings forecasts fell short of Wall Stಌreet’s expectations. 

Tesla Inc. (TSLA): The electric vehicle company’s shares fell more than 5% after analysts at HSBC initiated coverage of the stoཧck and set a price target of $146, citing uncertainty about the commercialization of Tesla’s nascent supercomputer, self-driving, and robotics projects.

Arm ADRs Tumble After F♉irst Earnings Repoౠrt Since IPO as Outlook Misses Estimates

Arm Holdings Plc (ARM) 澳洲幸运5开奖号码历史查询:posted better-than-expected results in its first quarterly report 澳洲幸运5开奖号码历史查询:since it began publicly trading, but the firm's 澳洲幸运5开奖号码历史查询:American depositary receipts (ADRs) tumbled as its guidanceꦜ missed es🍸timates amid a slump in the smartphone market.

The British semiconductor designer that was spun off of Japan’s SoftBank reported second-quarter fiscal 2024 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $0.36, more than double the year-ago period. Revenue rose 28% to a record $806 million, beating estimates.

However, Arm indicated it expects current quarter EPS between $0.21 and $0.28 and sales of $720 million to $800 ♏million. Analysts had been looking for EPS of $0.27 and sales in the range of $730 m🍬illion to $805 million.

Investor꧅s eager f⛦or a comeback for new listings drove Arm ADRs to their all-time high on their first day of trading in September. Since then, the ADRs have headed lower and they’ve lost more than 20% of their value.

-Bill McColl

Disney+ Subscriber Growth Cues Better-Than-Expected Earnings

Disney's (DIS) fourth-quarter fiscal 2023 earnings beat analyst predictions as 澳洲幸运5开奖号码历史查询:the companyꦐ saw ✃robust subscription growth, narrower losses in its 𝓡streaming segment, and a booming theme park business.

Adjusted earnings per share (EPS) was 82 cents, exceeding the consensus among analyst estimates compiled by Visible Alpha. Revenue increased by 5% year-over-year to $21.24 billion, just a shade under the $21.33 billion predicted.

After three consecutive quarters of losing subscribers, total Disney+ subscribers—including those from India's Hotstar streaming platform—grew to 150.2 million as Disney+ added 7 million paid users in the quarter.

Disney shares surged more than 7% early Thursday, their biggest intraday jump in nearly a year. With Thursday's gains, shares are up about 4% year-to-date.

-Nathan Reiff

Media Stocks Rise on End of Actors Strike

Shares of media compani♚es gained in early trading Thursday after studios reached a tentative deal with striking actors, ending the months-long strike that ground most Hollywood production to a halt.

Actors joined Hollywood writers on strike in July over concerns about streaming service pay and the use of artificial intelligence in production. Writers and studios 澳洲幸运5开奖号码🌌历史查询:reached an agreement 🀅on similar issues in late September. 

The details of the deal have not been made public, but the union in a statement called it a billion-dollar deal “of extraordinary scope that includes ‘above-pattern’ minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI, and for the first time establishes a streaming participation bonus.”

Shares of media companies rose early Thursday, with Paramount Global (PARA) gaining about 2% and Disney (DIS) surging more than 6% on the news and its earnings report. Warner Bros Discovery (WBD) initially jumped about 4% before giving up it🌟s🐟 gains to trade around flat. 

Stocks Making the Biggest Moves Premarket

Gains:

• Affirm Holdings Inc. (AFRM): Shares of the buy now, pay later provider jumped more than 13% after its fiscal first-quarter results topped analyst estimates on a 28% increase in 澳洲幸运5开奖号码历史查询:gross merchandise volume. 
• The Walt Disney Co. (DIS): Shares of the entertainment giant gained 4% after its fiscal fourth-quarter earnings beat Wall Street forecasts after adding 7 million subscribers to its Disney+ streaming service. 
• Li Auto Inc. (LI): Shares rose about 2% after the Chinese electric vehicle maker said it delivered nearly four times as many cars last quarter as the year before, exceeding its own forecasts and analysts’ sales estimates. 
  

Losses:

• Arm Holdings Plc. (ARM): Shares of the British chip designer fell 6% after its first earnings report as a public company. The company beat earnings expectations, but forecast current-quarter revenue would come in below Wall Street’s estimates.
• Lyft Inc. (LYFT): Shares of the ride-sharing company fell 4% after beating Wall Street estimates on the bottom line with its quarterly results, but offering an underwhelming outlook for the current quarter. 
• Instacart (CART): Shares of the newly public grocery delivery company fell almost 2% after it reported better-than-expected earnings. Those results may have been overshadowed by news Amazon is expanding its grocery delivery service to non-Prime members. 

Stock Futures Higher as Yields Tick Up

Future🦄s contracts connected to th൩e Dow Jones Industrial Average were about 0.2% higher in premarket trading Thursday.

S&P 500 futures were also up about 0.2%.

Nasdaq 100 futures were effectively flat about an h𒅌our before ma🎃rkets opened.