Stock Indexes Pull Back; Palantir Leads Tech Shares Lower

Here’s How Much Traders Expect AMD Stock to Move After Today’s Earnings

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Advanced Micro Devices is set to report its latest quarterly results after the closing bell today, with traders expecting a big move in the chipmaker’s stock.

Options pricing suggests traders expect AMD (AMD) shares could move up to 7% in either direction by the end of this week. A move of that size from the stock’s recent level around $256 could push shares as high as $274, topping October’s record highs in the wake of a massive deal announced with ChatGPT maker OpenAI. At the low end, it would leave shares around $238, where they were late last month.

Most Wall Street analysts lean bullish on AMD’s prospects, with a majority of those surveyed by Visible Alpha calling it a “buy,” thought the stock has already surpassed their consensus target with its recent gains. AMD’s stock has more than doubled in value this year, with much of its rise fueled by optimism spurred by the OpenAI deal last month.

AMD is seen reporting adjusted earnings per share of $1.16 on a 28% year-over-year jump in revenue to a record $8.76 billion for the third quarter, driven by booming demand for its chips for data centers, its largest revenue segment.

The shares were down about 2% recently amid a broader market decline led by the tech sector as worries about an AI bubble weigh heavy.

–Kara Greenberg

Bitcoin’s Price Hasn’t Been This Close to $100,000 in Months

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Red October is spilling into November.

The price of bitcoin, the world’s best-known and most-valuable cryptocurrency, earlier today fell more than 3% to its lowest point—below $103,000—since hitting its all-time high price of over $126,000 in early October. The weakness extends declines that began after what is now called the crypto market’s Black Friday in the middle of last month, which helped pull bitcoin down for the month to mark its first red October since 2018.

Whether those declines will turn into a full-on downturn typical for this stage in the coin market cycle, or coax investors back into the mix with lower prices, remains to be seen. So far Tuesday, investors appear to be wary. Crypto’s fear and greed index, which is aimed at measuring sentiment in the market, turned to fear yesterday from a neutral position last week, according to CoinMarketCap.

The falling price of bitcoin—it hasn’t been below $100,000 since May—comes amid mounting outflows in spot bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust (GBTC) collectively saw net outflows of some $1.3 billion since Oct. 29, according to data platform SoSoValue. Roughly $500 million ran out of spot ether ETFs over the same time period.

Read the full article here.

–Crystal Kim

Marriott Stock Rises Despite North American Struggles

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Shares of Marriott International (MAR) advanced 4% Tuesday morning after the hotel giant reported better-than-expected third-quarter results.

The Bethesda, Md.-based company posted adjusted earnings of $2.47 per share on revenue that increased 4% year-over-year to $6.49 billion. Analysts polled by Visible Alpha had expected $2.39 and $6.43 billion, respectively.

Marriott’s Revenue Per Available Room (RevPAR) growth of 0.5% worldwide also topped expectations, although its U.S. and Canada RevPAR fell 0.4% when analysts were looking for a decline of just 0.02%.

“Marriott’s strong quarterly results underscore the resilience of the hospitality sector amidst an uneven global recovery,” said Brian Mulberry, Senior Client Portfolio Manager at Zacks Investment Management. “International momentum, particularly in the luxury segment, has been a bright spot helping to overcome a little softness in the US revenue per available room (down -0.5%) this quarter.”

For the year, Marriott sees worldwide RevPAR up 1.5% to 2.5%, with the midpoint above consensus, and net rooms growth of 5%.

“The forward guidance was optimistic as well, looking to add around 5% in new rooms pushing them over 1.8 million rooms worldwide,” Mulberry said. “This scale and their strong cost management has produced durable earnings growth and supported a consistent dividend that has upside potential if these results continue.”

Despite today’s gains, Marriott shares remain slightly negative for the year.

Uber Stock Drops on Soft Outlook

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Uber Technologies (UBER) was one of the worst-performing stocks in the S&P 500 early Tuesday after the ridesharing giant issued a soft adjusted EBITDA forecast for the current quarter.

Uber sees fourth-quarter adjusted EBITDA of $2.41 billion to $2.51 billion, which would represent 31% to 36% year-over-year growth. However, the midpoint of that range is below the $2.49 billion consensus projection of analysts surveyed by Visible Alpha.

For the third quarter, Uber reported earnings well above expectations at $6.6 billion, or $3.11 per share, but that included a $4.9 billion “tax valuation release” benefit. Revenue of $13.47 billion grew 20% from a year ago and topped the $13.27 billion consensus.

Even with today’s 7% decline, shares of Uber have added more than a quarter of their value this year.

Cruise Stocks Fall After Norwegian’s Q3 Revenue Comes Up Short

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Shares of big cruise lines fell sharply at the open Tuesday after Norwegian Cruise Line Holdings (NCLH) reported a third-quarter revenue miss.

The Miami-based company posted revenue of $2.94 billion, while analysts surveyed by Visible Alpha were expecting $3.02 billion. Norwegian’s net yield of $341.89 also came up short of estimates, although adjusted earnings of $1.20 per share topped expectations of $1.16.

Shares of Norwegian dropped nearly 8%, while those of rivals Royal Caribbean Cruises (RCL) and Carnival Corp. (CCL) fell 5% and 7%, respectively.

For the year, Norwegian shares are down more than 20%, but Royal Caribbean’s are up roughly 15% and Carnival’s are 8% higher.

Denny’s Stock Skyrockets on News Restaurant Chain Being Acquired, Taken Private

4 hr 32 min ago

Denny’s (DENN) agreed to be taken private. Investors are cheering the news.

Shares of the full-service restaurant chain are rocketing 50% in premarket trading Tuesday, a day after it announced it was being acquired by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises for $620 million in cash.

Denny’s, whose shares closed at $4.11 Monday, were trading at $6.15 about 90 minutes before the bell after it announced that its board unanimously approved a deal that would see stockholders receive $6.25 per share in cash for each share of company stock they own.

Denny’s said the deal is expected to close in the first quarter of 2026, and then its shares would no longer be listed on the Nasdaq.

Shares of Denny’s had lost roughly a third of their value this year entering Tuesday.

Stock Futures Point Sharply Lower

4 hr 56 min ago

Futures contracts connected to the Dow Jones Industrial Average were down 0.8%.

S&P 500 futures fell 1.1%.

Nasdaq 100 futures declined 1.4%.