Amazon stock soars, Apple CEO predicts ‘best-ever’ holiday quarter, Reddit and

Amazon CEO says layoffs ‘not likely financially pushed’ or attributable to AI

On the company’s earnings name, Amazon (AMZN) CEO Andy Jassy said the company’s announcement that it will lower 14,000 company jobs was tied to overhiring, not artificial intelligence.

“The announcement we made a few days ago was not really financially driven, and it’s not even really AI driven — not right now, at least. It’s culture,” Jassy said (hear below). Later, he added: “We are committed to operating like the world’s largest startup, and that means removing layers.”

Amazon was maybe the most high-profile company to announce layoffs in latest weeks, though it is certainly not alone. The employees reductions, occurring at the same time as fast, large-scale AI investments by Big Tech, led many to take a position that the two have been linked.

While the unemployment price has ticked up and job features have slowed, Federal Reserve Chair Jerome Powell famous that the cooling in the labor market has been “gradual.” Simultaneously, outcomes from Big Tech firms in the last week highlight how AI spending continues to ramp up.

“You’re going to see us continue to be very aggressive in investing in capacity because we see the demand,” Jassy told buyers on the earnings name.

Listen to the full earnings name right here.

Apple CEO Tim Cook says December quarter income will likely be ‘best ever’

Apple stock (AAPL) turned greater, rising by about 3%, after CEO Tim Cook sounded bullish on the iPhone maker’s earnings name.

“We are extremely excited about the strength we’re seeing across our merchandise and companies, and we anticipate the December quarter’s income to be the best ever for the company and the best ever for iPhone,” Cook told investors.

According to Cook, the iPhone 17 is going through provide constraints resulting from high demand.

Listen to Apple’s earnings name right here.

Strategy stock rises after disclosing it strengthened bitcoin holdings

Shares of strategy (MSTR), the company previously referred to as Microstrategy, rose 3% after hours as the company’s earnings name started.

The company reported revenue of $128.7 million in the third quarter, a 10.9% increase year over year. Wall Street analysts were expecting revenue of $116.9 million. Diluted earnings per share of $8.42 beat estimates of $7.90 per share.

The company led by bitcoin (BTC-USD) bull Michael Saylor was an early pioneer in the company motion of shopping for bitcoin and holding it in reserve. That mannequin got here under scrutiny, as the company’s stock worth was extraordinarily risky and fluctuated in tandem with crypto volatility.

As of Oct. 26, Strategy held 640,808 bitcoins at a total cost of $47.44 billion, or $74,032 per bitcoin. On Oct. 30, bitcoin traded at around $107,489 per token.

For the full year, Strategy expects diluted earnings per share of $80, well ahead of estimates for $42.29.

Coinbase earnings beat estimates as crypto rally boosts trading volume

Coinbase (COIN), the largest US-based crypto exchange, reported a jump in third quarter profit on Thursday as volatility in the market, which often benefits cryptocurrencies, boosted trading volumes. The stock rose less than 1% in after-hours trading.

For the third quarter, Coinbase reported subscription and services revenue of 746.7 million. For the fourth quarter, the company expects this revenue to come in between $710 million and $790 million.

Reuters reports:

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Reddit’s Q3 revenue beats estimates but user growth continues to slow

Yahoo Finance’s Laura Bratton reviews:

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Earnings preview: Amazon to report Q3 earnings as Wall Street looks for improved AI growth

Here’s Yahoo Finance’s Daniel Howley on what to anticipate from Amazon earnings:

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Earnings preview: Apple to report Q4 earnings after market cap touches $4 trillion

Apple (AAPL) will release its fourth quarter earnings after the bell on Thursday, giving investors and analysts their first glimpse into how well the company’s latest iPhones are selling just days after its market cap touched the $4 trillion mark, Yahoo Finance’s Daniel Howley writes.

Read Dan’s preview of what to expect from Apple earnings after the bell on Wednesday:

Read more right here.

Cigna stock plunges after warning about margin pressure for pharmacy benefit services

Cigna (CI) stock plunged more than 12% on Thursday after the health services company reaffirmed its profit guidance for 2025 but warned that its pharmacy benefit manager (PBM) segment would face margin pressures.

Cigna CEO David Cordani said on the company’s earnings call that its partners operating in government programs like Medicaid and Medicare are facing “important monetary and affordability pressures.” Reduced government reimbursements and seniors utilizing more services through Medicare Advantage plans have created dual headwinds for health insurers this year.

“As a result of these components, we anticipate margin strain within our Pharmacy Benefit Services section over the next two years,” Cordani said (PBMs manage prescription drug benefits for health insurance plans).

For the third quarter, the medical care ratio (MCR) for Cigna’s health insurance arm was 84.8%, slightly above analyst estimates and higher than its MCR of 82.8% a year ago. Cigna anticipates its MCR will be on the high end of its guidance range of 83.2% to 84.2% for the full year.

Cigna reported earnings per share of $6.98 in Q3, beating estimates of $6.24, according to S&P Global Market Intelligence. Revenue also came in ahead, with the company bringing in $69.7 billion for the quarter.

Altria earnings show fewer people buying cigarettes. The stock is down 7%.

Tobacco company Altria (MO) expects its earnings development to decelerate in the fourth quarter as fewer people are smoking cigarettes.

The company said it expects earnings per share growth to “reasonable” in the fourth quarter but did not issue specific Q4 guidance. Altria adjusted its EPS guidance for the full-year by raising the low-end of its previous outlook to a new range of $5.37 to $5.45, representing a growth rate of 3.5% to 5.0% from 2024.

Altria has been working to shore up its share of the smoke-free market for products like nicotine pouches, which is the biggest area of growth as consumers shift away from traditional cigarettes.

Volumes of its smokeable products, like Marlboro cigarettes, declined 8.2% in the third quarter. Overall revenue declined 3% year over year to $6 billion. Earnings per share of $1.45 grew 3.6%, matching Wall Street analyst estimates, according to S&P Global Market Intelligence.

Altria stock dropped over 7% on Thursday following the outcomes. Year up to now, the stock is up 9%, versus an almost 17% achieve for the S&P 500 (^GSPC).

Crocs stock jumps as footwear maker makes progess on turnaround

Crocs (CROX) stock popped 7% in premarket trading on Wednesday after the footwear company said it’s targeting $100 million in cost savings in an effort to turn things around after profits declined by double digits over the previous year.

For the third quarter, Crocs’ revenue decreased 6.2% year over year, led by a 14.7% decline in wholesale retail, which was marginally offset by a 1% increase in direct-to-consumer sales. Earnings per share of $2.92 also declined 18.9% year over year.

Still, both revenue and earnings per share topped analysts’ expectations for the quarter. The Street was looking for EPS of $2.36 and revenue of $961 million, compared to the $996 million it reported.

Listen to the earnings name right here.

Hershey earnings fall year over year but beat Wall Street’s expectations

Hershey (HSY) reported an earnings beat and steerage elevate on Thursday, however the stock fell round 1% in premarket buying and selling.

Earnings per share of $1.36 came in above expectations for $1.30 per share, according to S&P Global Market Intelligence. Revenue of $3.18 billion was above the $3.11 billion expected.

The company said it expects $160 million to $170 million in tariff prices this 12 months. The company is also grappling with hovering cocoa costs.

Here’s a look at net sales in each of Hershey’s business segments:

Hershey sees full-year net sales growth of around 3%, up from its previous forecast of 2% growth. Year over year, Hershey expects earnings per share to decrease 36% to 37% in 2025.

Listen to the earnings name live right here.

Roblox lifts annual bookings forecast as viral games draw strong spending

Roblox (RBLX) raised its annual bookings forecast for the third time this 12 months, pushed by strong in-game spending on titles such as “Steal a Brainrot”, which has helped it surpass 150 million daily active users.

Shares in Roblox fell 3% in premarket trading on Thursday.

Reuters reports:

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Merck stock falls after company posts earnings beat, narrows guidance

Merck (MRK) stock fell over 2% in premarket trading as the company’s earnings beat was not enough to reassure investors, as the company braces for the expiration of key patents.

The drugmaker reported earnings per share of $2.58 a share, topping Wall Street analysts’ estimates of $2.35 per share. Revenue of $17.2 billion also beat estimates for $16.9 billion.

Sales of Merck’s blockbuster cancer immunotherapy drug Keytruda rose 10% to $8.14 billion, and sales of its hypertension drug Winrevair grew 141% to $360 million. However, Gardasil sales declined 24% to $1.7 billion.

The company also said it received FDA approval for a version of Keytruda that patients can inject under the skin, as Merck barrels toward the 2028 expiration of its Keytruda patent.

Merck now expects full-year sales to be between $64.5 billion and $65 billion, a narrower range than the $64.3 billion and $65.3 billion the company previously forecast. Earnings per share are expected to be between $8.93 and $8.98 for 2025, which is raised slightly.

Comcast slows internet, TV losses amid heavy promotion cycle

Comcast (CMCSA) managed to slow subscriber defections in its third quarter. The media company was helped by an internet price-lock guarantee and bundled plans.

Shares in Comcast rose by more than 1% before the bell on Thursday.

Bloomberg News reports:

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Eli Lilly raises full-year forecast, as weight-loss drugs demand drives third-quarter beat

Eli Lilly (LLY) stock rose 6% on Thursday before the bell after raising its full-year profit and revenue forecast as strong appetite for its widely popular weight-loss and diabetes drugs Zepbound and Mounjaro helped it beat third-quarter earnings estimates.

Reuters reports:

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Estee Lauder beats quarterly sales estimates

Reuters reviews:

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Stellantis posts higher revenues, trims estimates on US tariff impact

Stellantis (STLA) reported a 13% year-on-year increase in revenue for its third quarter earnings on Thursday. The automaker’s shares fell % before the bell.

Reuters reports:

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Fascinating Chipotle earnings call

I do know you might be in all probability still digesting all issues Fed, however I encourage you to read Chipotle’s (CMG) earnings name transcript before the market opens on Thursday.

Alarming as it pertains to the health of the consumer. CEO Scott Boatwright talks about falling sales in October because of consumer pressure.

Key comment from him:

“We’re seeing that important pullback from that cohort under $100,000 yearly. Also, that age group 25 to 34, which we over-index to, is about 25% of our whole sales, has pulled again meaningfully. Based on our data, each bought and in-house data, it exhibits that we’re gaining market share, however that cohort, so that means we’re not shedding them to the competitors, we’re shedding them to grocery and meals at house. That client is under strain. It is one in all our core client cohorts, and they really feel the pinch, and we really feel the pullback from them as nicely.”