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

Dow Jones
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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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