U.S. stock markets saw NVIDIA (NVDA, Financial) leading in trading volume, closing down 4.85% as its acquisition of AI startup Run:ai faces EU scrutiny over competitive concerns. NVIDIA may need concessions for approval.
Microsoft (MSFT) shares fell 6.03%, marking its largest single-day drop in two years after reporting earnings. While its Intelligent Cloud revenue grew 20% to $24.1 billion, Azure's growth slightly exceeded forecasts. The company's adjusted EPS was $3.3, slightly surpassing expectations. Capital expenditures rose to $20 billion, continuing to focus on cloud and AI investments.
Tesla (TSLA) shares dropped 2.99% amid legal action over CEO Elon Musk's political activity. A court hearing is scheduled regarding a "million-dollar lottery" intended to sway voters. Legal challenges are underway in Philadelphia against alleged election interference and unlawful lottery practices.
Meta (META) stock was down 4.09% despite reporting Q3 revenues of $40.59 billion, up 19% and above estimates. Advertising remains the core, contributing 98.3% of revenue, at $39.89 billion. CEO Mark Zuckerberg highlighted the role of AI in advertising and social networks, boosting user engagement.
Apple (AAPL) fell 1.82%, with Q4 revenue at $94.9 billion, a 6% increase. New AI features are expected to drive sales growth. iPhone revenue reached $46.2 billion, with the iPhone 16 outselling its predecessor.
Amazon (AMZN) declined 3.28% after posting better-than-expected Q3 results, including $158.9 billion in sales and an EPS of $1.43. While AWS sales were slightly below expectations, operating profit exceeded estimates.
Alphabet's (GOOGL) Class A shares fell 1.92%, following a Russian court imposing an unrealistic fine for YouTube's actions against Russian TV channels. Compliance with restoring channel access may prevent further penalties.
AMD (AMD) saw a 3.05% decrease as CEO Lisa Su confirmed the development of next-gen Radeon GPUs based on RDNA 4 architecture, slated for early 2025 release.
Carvana (CVNA) increased 19.29% following Q3 results that surpassed expectations, with sales revenue at $3.66 billion. The company projects further growth in vehicle sales and improved EBITDA performance.
