Apple, Palantir, Marvell, AMD, Sandisk, Shopify, and More Stocks That Explain Today's Market

Dow Jones
Yesterday

Stock futures traded mostly to the upside Tuesday as investors awaited midterm election results and another slate of tech earnings.

Apple dropped 4.4% ahead of the opening bell. The iPhone maker's fiscal fourth-quarter results beat Wall Street's expectations, but its guidance failed to meet investors' high bar.

Palantir tumbled 5.8%. The data analytics company posted solid third-quarter earnings as business-to-business sales surged, but that wasn't enough to boost a stubborn stock that has been flat over the past year.

Artificial-intelligence stocks were staging a comeback. Chip maker Advanced Micro Devices, which is scheduled to report earnings after the closing bell Tuesday, added 4.3% and memory-card supplier Sandisk rose 5.2%. Coherent, Intel, and Super Micro were also rising.

On Semiconductor climbed 4.1%. The chip company's third-quarter earnings and revenue beat analysts' expectations as sales to AI data centers jumped 175% from a year ago.

Shopify sank 17% after the e-commerce company reported weaker-than-expected merchandise sales in the third quarter.

Pfizer fell 0.4% after the drugmaker raised its full-year outlook on stronger-than-expected third-quarter revenue.

Zebra Technologies plunged 17% after the productivity and automation software company reported better-than-expected third-quarter results.

Dynatrace dropped 15% after the software company said a recent acquisition would cut its core profit margin by about 175 basis points in fiscal 2027.

Marvell Technology rose 4.3% after falling 13% on Monday, which followed the announcement of its $115 billion all-stock deal for Lumentum Holdings. Shares of Lumentum gained 3.4% in premarket trading.

Eaton rose 2.4%. The electrical equipment provider reported a third-quarter earnings beat and said orders exceeded revenues by about 30% over the last 12 months.

Fabrinet jumped 9.% after the supplier of components for data centers posted better-than-expected fourth-quarter results. Revenue surged 51% from a year ago to hit a record $1.47 billion.

 

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