Moves That Matter

What happened

Enphase reported Q3 revenue of $293.3 million, only slightly above the prior quarter and well short of analyst estimates near $305 million, landing near the low end of its own $290-320 million guidance. Adjusted EPS was $0.41, missing a roughly $0.50 consensus, and GAAP diluted EPS was $0.17. Global sell-through rose only about 1% sequentially, far below the company's roughly 10% expectation. Q4 revenue guidance of $225-255 million came in well below the $297.6 million consensus and assumes sell-through declines 10% from Q3. CEO Badri Kothandaraman said U.S. sell-through rose a modest 5% sequentially but fell 35% year over year, in line with broader residential solar permit declines, blaming elevated interest rates and the expiration of the 30% tax credit; European revenue fell about 11% sequentially, particularly in France. Shares tumbled about 14-16% in after-hours trading.

What happened

NXP reported Q3 net income attributable to shareholders of $884 million, up from $631 million a year earlier, or $3.48 a share versus $2.48. Adjusted EPS was $4.20, ahead of the $4.12 FactSet consensus, and revenue rose 19% to $3.79 billion, ahead of the $3.76 billion expected, boosted by 13% automotive revenue growth and 39% industrial growth. But Q4 guidance disappointed at the margin: revenue of $3.75-3.95 billion (midpoint $3.85 billion versus $3.86 billion consensus) and adjusted operating income of $1.374-1.442 billion versus a $1.44 billion FactSet consensus, with non-GAAP EPS guided to $4.14-4.58. The board also authorized a new $5 billion buyback, on top of $1.3 billion remaining under the prior authorization. Shares fell 7.3% after hours to $235, per the Dow Jones/Morningstar wire.

What happened

Robinhood reported Q3 EPS of $0.51, missing analysts' expectations, on revenue of $1.42 billion, up 12% year over year to a record, while net income fell 14% to $476 million. Crypto revenue fell 55% from a year earlier, when crypto markets were near bull-market highs, even as total crypto revenue rose 20% sequentially to $120 million and crypto transaction revenue was $94 million. Options revenue rose 31% to $399 million and equities revenue rose 41% to $121 million, while net interest revenue fell 9% to $415 million. Prediction-market event contracts generated $173 million, up 11% sequentially and more than 6x a year earlier, and Robinhood Chain brought in $26 million in its first quarter on mainnet, processing over $80 billion in DEX volume. Robinhood lowered the top end of its 2026 adjusted operating-expense forecast by $25 million, to $2.675-2.75 billion. Average revenue per user was $200 versus a $201.09 consensus. Shares fell 7.2% after hours to $87.74 in the Dow Jones/Morningstar wire at 19:37 ET, with other snapshots showing a roughly 5.5% decline.

What happened

Visa reported fiscal Q4 (ended September 30) net revenue of $12.14 billion, up 13% and just ahead of the $12.09 billion Wall Street expected, with adjusted EPS of $3.48, up 17% and ahead of the $3.44 consensus (FactSet). GAAP profit was $6.0 billion, or $3.19 a share, versus $5.09 billion, or $2.62, a year earlier. Payments volume grew 9%, cross-border volume rose 14% and processed transactions rose 10% to 74.2 billion. For the full fiscal year, net revenue was $45.9 billion, up 15%, and adjusted EPS was $13.27, up 16%, both ahead of estimates. The board raised the quarterly dividend 16% to $0.78 a share ($3.12 annualized). Shares fell 1.1-1.8% in after-hours trading after closing down 0.6% at $401.86, as fiscal 2027 guidance pointed to EPS growth in the low double digits to low teens, slower than fiscal 2026's 16%, and Q4 payments-volume growth ticked slightly lower than the prior quarter.

What happened

Seagate Technology reported record fiscal first-quarter results after Tuesday's close, but shares fell 5.7% to $630 in after-hours trading after rising 3.7% in the regular session. Adjusted earnings were $7.68 per share, up from $2.61 a year ago and above Wall Street's $7.45 consensus, while revenue rose 61% year over year to $4.23 billion, beating the $4.15 billion consensus. Guidance also topped estimates: Seagate expects second-quarter adjusted earnings of $9.20 per share (plus or minus 20 cents) on revenue of about $4.8 billion, versus consensus of $8.66 per share and $4.5 billion. Capital spending of $211 million was within the company's 4-6% of revenue target range but above the $202 million analysts expected.

What happened

Meta Platforms' $25 billion common-stock sale — the first tranche of its upsized $97.5 billion equity raise — ended about five times oversubscribed, according to Bloomberg-cited coverage, a strong demand signal for the largest equity raise of its kind. AMD confirmed a $1 billion pledge to the offering, joining Nvidia's previously announced $3 billion commitment; the two pledges answer the open question from earlier coverage about whether AMD and Broadcom would confirm participation and at what size. The sale's reception helped spark Tuesday's chip-led rally: the Nasdaq Composite rose 1.18% and the S&P 500 gained 0.60%, with AMD up 5.1%, Nvidia up about 1%, and Broadcom and Micron also advancing, even as Meta itself slipped about 1.5%.

What happened

At its Intuit Connect event in Las Vegas on October 27, 2026, Intuit expanded its AI platform with new tools for accountants and sector-specific features for construction, manufacturing and nonprofit businesses, according to Investing.com coverage. Separately, QuickBooks Online users gained free access to the Avalara Sales Tax Readiness Report, a compliance tool launched the same day and reported by PR Newswire. The announcements landed on a down day for the stock: INTU traded at $326.80, down 3.87%, remaining below its 20-, 50- and 200-day moving averages.

What happened

Boeing shares plunged about 9-10% on Tuesday, October 27, to roughly $171, after the company's third-quarter earnings call torpedoed expectations for a quick production recovery. Boeing reported a Q3 core loss of $0.34 per share on $24.1-24.2 billion in revenue, versus a roughly $0.21-0.25 per-share loss expected; revenue rose 4% year over year. The stock initially rose after the release, then slid once the 10:30 a.m. ET call began, falling 9.6% through 12:05 p.m. ET and more than 10% in midday trading. On the call, management said Boeing is unlikely to deliver 500 MAX jets in 2026 as expected, and does not expect to raise the monthly MAX production rate to 52 a month until late 2027 — far later than the late-2026/early-2027 timeline investors had hoped for. CEO Kelly Ortberg said the step up to 47 jets a month 'didn't go as smoothly' as the previous increase, citing wing-production challenges and engine supply issues.

What happened

Taiwan Semiconductor Manufacturing Co. (TSMC) is preparing to raise prices for its CoWoS (Chip on Wafer on Substrate) advanced packaging services by 10% to 20%, according to Taiwan's Commercial Times (also cited as China Times), which cited supply-chain sources. CoWoS packages AI processors together with high-bandwidth memory (HBM) into a single unit, and it is the packaging technology used in most advanced AI accelerators. The report says foundries and outsourced assembly-and-test providers are preparing the increases as demand for advanced packaging expands beyond GPUs to server CPUs and custom AI chips (ASICs), while longer AI chip testing times and equipment lead times stretching from 3-6 months to 6-8 months tighten capacity further.

What happened

The Conference Board's Consumer Confidence Index rose 7.5 points to 91.7 in October, up from an upwardly revised 84.2 in September and far above economists' forecast of about 80-81. The Present Situation Index jumped 8.6 points to 120.4 and the Expectations Index recovered 6.9 points to 72.6, only partly reversing three straight monthly declines. The survey, conducted October 1-21, showed improved appraisals of current and expected business conditions, alongside better income prospects (18.7% expected income gains, up from 18.1%; 12.0% expected declines, down from 14.9%).

What happened

UPS reported third-quarter EPS of $1.69 on sales of $22.9 billion, beating Wall Street expectations of $1.62 on $22.3 billion (a year ago: $1.74 on $21.4 billion). CEO Carol Tome cited premium growth and greater network efficiency, and the company raised full-year guidance: 2026 revenue to $92.6 billion (from $91.2 billion) and operating profit to $8.75 billion (from $8.65 billion). Full-year adjusted EPS guidance rose to $7.28 from $7.22, ahead of the $7.19 FactSet consensus. Implied Q4 guidance ($25.7B revenue, $3.3B operating profit) also tops consensus ($25.2B, $3.2B). Shares rose about 1.6-2% premarket.

What happened

Iranian news agencies reported that Supreme Leader Mojtaba Khamenei, meeting with Supreme National Security Council secretary Maj. Gen. Mohsen Rezaei, called for bringing 'the current state of neither war nor peace to an end' by implementing conditions proposed by Iranian officials. One reported clause is safeguarding national and regional security by maintaining Iranian control over the Strait of Hormuz, and IRNA's reporting did not mention the nuclear program. The headlines moved markets Tuesday morning: S&P 500 futures rose about 0.3-0.4% to session highs, Nasdaq futures gained about 0.6-0.7%, oil fell about 1% (WTI near $101, Brent near $110), and the 10-year Treasury yield eased. The move more than offset an overnight Houthi missile attack on Saudi Arabia's Ras Tanura refinery, which had initially pushed oil higher.

What happened

BofA lowered its price target on TJX to $170 from $175 and kept a Buy rating. The firm cut off-price retailer estimates to reflect higher freight costs pressuring FY27 margins as contracts renew, reducing FY27 estimates for TJX by 3% (Ross by 3%, Burlington by 6%) to reflect about 60 basis points of incremental gross margin pressure. The action was published Tuesday morning, Oct 27.

What happened

PayPal reported third-quarter 2026 results on Tuesday morning, October 27. Adjusted earnings of $1.45 per share rose from $1.34 a year ago and beat the roughly $1.31 consensus by about 11%, but net revenue grew only 2% to $8.58 billion, missing consensus of about $8.72-8.89 billion. Total payment volume rose 7% on a currency-neutral basis to $487.14 billion, slightly below expectations. The company raised full-year adjusted EPS guidance to $5.60, up from $5.38 previously and above the Street's $5.39. CEO Enrique Lores said the company is 'increasingly confident in our path to durable, profitable growth.' Shares nevertheless fell about 1.4% to $54.22 in premarket trading.

What happened

Nvidia said late Monday / early Tuesday it will invest $3 billion in Meta Platforms' equity offering, as the two companies deepen their partnership on Meta's Muse AI assistant and related AI models. Meta will expand deployment of Nvidia infrastructure — including Vera Rubin and Vera CPUs and Nvidia networking — for next-generation AI agents, and the companies are considering further collaboration on agent-behavior monitoring (Nvidia's OpenShell/Sentry tools). Separately on Tuesday, Meta increased its largest-ever equity fundraising to $97.5 billion, upsizing the common-stock tranche announced Monday from $22.5 billion to $25 billion at $625 per share, alongside 250 million depositary shares at $50 each. Meta has launched about $35 billion in public offerings and plans a further up-to-$60 billion at-the-market program after its new non-voting Class C shares begin trading, expected in Q1 2027. Reuters reports the raise has drawn interest of up to $5 billion in total from Nvidia, AMD and Broadcom for Class A shares. Meta shares fell about 1.4% in morning trading Tuesday; Nvidia was roughly flat to modestly higher in premarket trading.

What happened

President Trump extended his 48-hour ultimatum demanding Iran reopen the Strait of Hormuz, postponing threatened U.S. strikes on Iranian power plants by five days and saying Iran has 'one more chance' at peace, citing 'very good and productive conversations' and possible progress toward a 'complete and final agreement.' He also paused 'Project Freedom,' the U.S. operation escorting commercial ships through the Strait, while keeping the naval blockade of Iranian ports in full force. Tehran pushed back: parliamentary speaker Mohammad-Bagher Ghalibaf said 'no negotiations have been held with the US' and called the talks reports 'fake news' used to manipulate financial and oil markets, though a senior Iranian official told CBS News that U.S. points received through mediators are under review. Secretary of State Marco Rubio said U.S. offensive operations ('Operation Epic Fury') are complete and 'there's no shooting unless we are shot at first,' but warned Iran must 'pay a price' for trying to control the strait. Oil whipsawed: Brent fell more than 10% on Monday after the de-escalation signals, then held near six-month highs, at $115.15 a barrel as of 0000 GMT Tuesday per Reuters, with WTI at $101.32, as Houthi attacks on Saudi Arabia continued and a vessel caught fire off Iraq's coast.

What happened

SK Hynix reported record third-quarter results overnight, with revenue of 104.62 trillion won (up 327.9% year over year and 31.9% sequentially, the first quarter above 100 trillion won) and operating profit of 83.33 trillion won (up 632.1% year over year), beating the FnGuide consensus of 98.23 trillion won in revenue and 76.96 trillion won in operating profit. The operating margin hit a record 79.7%. CEO Kwak Noh-jung said on the earnings call that HBM is sold out through 2029 under long-term agreements, with 14 major customers covering more than half of planned 2027-2028 production capacity, and the company forecast memory supply shortages lasting through 2030. HBM4 shipments are ramping and are expected to overtake HBM3E in volume and revenue in Q4. The board also approved a shareholder return plan of up to 100 trillion won (roughly $75 billion), the largest in company history. Seoul-listed shares rose about 4% and the ADR gained overnight, though IBD noted the ADR's overnight move was modest after a recent plunge.

What happened

Cadence Design Systems reported third-quarter results late Monday that beat Wall Street expectations and raised its full-year outlook. Adjusted earnings came in at $2.11 per share on sales of $1.63 billion, versus FactSet consensus of $2.05 per share on $1.61 billion; earnings rose 9% and sales surged 22% year over year. For the full year, Cadence now expects adjusted earnings of $8.40 per share on sales of $6.4 billion at the midpoint, up from $8.10 per share and $6.3 billion three months ago (versus $7.14 per share and $5.3 billion last year). CEO Anirudh Devgan cited broad-based momentum, expanding technology leadership and a record backlog, and shares rose more than 2% in after-hours trading.

What happened

Microsoft is offering voluntary buyouts to around 60,000 employees — roughly a quarter to 27% of its ~223,000-person global workforce — according to Bloomberg and Business Insider reports on Monday, October 26. Chief People Officer Amy Coleman announced the 'Voluntary Exit Offer' in a memo to staff, calling it 'an important part of how we're evolving our approach to change' and a time-limited program with severance-like financial support and career-planning resources. Eligibility covers employees at level 70 and below (vice president and below) on participating teams in the U.S., Canada, India and the U.K.; some data-center, sales, marketing, commercial and security teams are excluded, while AI experiences, Copilot, finance, HR, Xbox and Windows + Devices are reportedly included. Microsoft has not disclosed expected costs or participation; shares rose about 1% Monday.

What happened

Barclays analyst Dan Levy upgraded Tesla (TSLA) to Overweight from Equal Weight on Monday, October 26, 2026, and raised his price target to $450 from $370 — roughly 20% above Friday's $372.22 close. Tesla shares rose about 5-6% in early Monday trading, to around $392-395, clearing their 200-day moving average for the first time since July. Levy cited a potential premium from an expected Tesla-SpaceX combination, a core auto business returning to growth after two flat years, energy-storage shipments growing more than 50% in 2027, and robotaxi progress reaching an inflection point.

What happened

Anthropic, PBC publicly filed a Form S-1 with the SEC on Monday, October 26, 2026 (accepted 9:00:11 a.m. ET) for an initial public offering of its Class A common stock, to list on the Nasdaq Global Select Market under the ticker ANT. The share count and price range were left blank, so the amount to be raised and the valuation are not yet set; reports put a possible valuation at up to $2 trillion, with some investors now marking it near $1.5 trillion, and bankers reportedly aiming for up to $100B in proceeds. The filing discloses first-half 2026 revenue of $16.3 billion, up about 1,300% from $1.2 billion a year earlier, alongside a net loss of $80.7 billion — but $72.4 billion of that loss is a non-cash fair-value charge on convertible notes, derivatives and SAFEs as Anthropic's valuation rose, leaving an operating loss of $693 million, positive operating cash flow of $3.9 billion, and $131.7 billion in cash and short-term investments at June 30. It also reveals a novel governance structure: a single Class F share held by a founders' company carries 50.1% of votes, and a Long-Term Benefit Trust elects a majority of the board, making Anthropic a controlled company.

What happened

Verizon reported Q3 results Monday that beat profit expectations and raised its full-year guidance for a third consecutive quarter, while signing a deal worth more than $2 billion with Amazon Web Services. Adjusted EPS was $1.31 versus ~$1.27-$1.28 expected; revenue rose 1.5% to $34.3 billion, slightly below the ~$34.7-$34.8 billion consensus as lower device upgrades weighed on equipment revenue. Verizon added 406,000 postpaid phone subscribers — more than double the ~195,000-209,000 expected and its best Q3 in five years — and raised full-year adjusted EPS guidance to $5.04-$5.06 (from $4.99-$5.04) and postpaid phone net additions to 1.1-1.2 million (from 750,000-1 million). Under the AWS deal, Verizon will provide high-capacity fiber-optic connectivity for AWS data centers supporting agentic and generative AI workloads.

What happened

Meta Platforms said Monday it plans to raise up to $95 billion in equity to fund its AI-related expansion of data centers, cloud computing power and other infrastructure. It launched public offerings of about $35 billion in common stock and convertible preferred stock, and plans a separate at-the-market sale program of up to $60 billion after its new non-voting Class C shares begin trading, expected in the first quarter of 2027. Meta had cash, equivalents and marketable securities of $82.45 billion at September 30, slightly above its $80.92 billion of long-term debt.

What happened

EQT Corp said Monday it will acquire Range Resources in an all-stock deal valued at more than $50 billion including debt, creating what the companies called the largest vertically integrated natural gas producer in the United States. Range shareholders will receive 0.987 EQT shares per share, an implied $54.91 per share — about 20.6% above Range's Friday close, valuing the equity at roughly $12.83 billion on 233.68 million shares outstanding. EQT shareholders will own about 73% of the combined company and Range investors 27%; the deal is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals.