Amazon Stock Surges as Cloud Business Boosts Earnings; DexCom Drops

Shares of an e-commerce and cloud computing powerhouse delivered big gains on the final day of October, while a medical device maker came under pressure after an executive provided an underwhelming outlook for 2026 sales growth.

Major U.S. equities indexes finished higher Friday as markets wrapped up an eventful week that included the Federal Reserve’s latest rate cut and a trade truce between the U.S. and China. The Dow ticked up 0.1%, S&P 500 advanced 0.3%, and the Nasdaq climbed 0.6%. All three posted gains for the week and month. See here for more from Investopedia on Friday’s market action.

Amazon (AMZN) stock jumped nearly 10% to a closing record after the tech giant reported better-than-expected earnings for the third quarter. Growth in the company’s Amazon Web Services business helped drive the strong results. CEO Andy Jassy highlighted Amazon’s plans to boost its AI capacity as it benefits from growing demand for AI infrastructure.

Shares of First Solar (FSLR) powered over 14% higher to notch Friday’s best performance in the S&P 500. Although the solar panel maker’s third-quarter earnings per share fell short of estimates, its revenue for the period topped expectations, boosted by demand from developers of U.S. solar projects. First Solar also announced a plan to open a new manufacturing facility in the U.S. with an annual production capacity of 3.7 gigawatts.

Coinbase Global (COIN), operator of the largest U.S. cryptocurrency exchange, surpassed quarterly sales and profit forecasts. Coinbase said it saw gains in both consumer and institutional trading volume, bolstered by optimism surrounding the U.S. regulatory outlook for digital assets. CEO Brian Armstrong also highlighted the company’s expansion into prediction markets and tokenized assets, under Coinbase’s “everything exchange” strategy. Coinbase shares added close to 5%. 

Shares of DexCom (DXCM) tumbled nearly 15%, suffering the steepest daily decline in the S&P 500. While the maker of continuous glucose monitors for patients with diabetes topped third-quarter sales and profit estimates, DexCom’s management team cautioned that 2026 revenue growth could fall short of expectations. Executives also addressed concerns about DexCom’s flagship G7 sensor following reports of quality issues, noting that the company fixed a problem with the product earlier this year and pointing to efforts to improve its customer service platform.

Erie Indemnity (ERIE) shares slid 5.5% after the insurance management company reported mixed third-quarter results. While earnings per share surpassed forecasts, revenue for the period missed the mark. Erie executives said the company faced challenges related to significant underwriting losses from auto and homeowners policies in recent years driven by an uptick in severe weather.