Amazon posts third-quarter profit well ahead of estimates, Intel issues upbeat guidance, Ford reports weaker-than-expected earnings, and Enphase projects a...
Stock futures were getting a well-needed lift Friday from solid earnings reports from Amazon. com and Intel. The S&P 500 has fallen 2.6% over the last two trading sessions and the Nasdaq Composite has slumped 4.1%. Wall Street will be monitoring the Federal Reserve’s preferred inflation gauge, which will be released before markets open Friday.Amazon.com reported third-quarter earnings of 94 cents a share, well above analysts’ consensus of 58 cents. Sales rose 13% from a year earlier to $143.
Ford Motor reported weaker-than-expected third-quarter earnings and withdrew its guidance for the year, citing the tentative labor agreement with the United Auto Workers that was reached earlier this week. The company’s electric-vehicle business, called Model e, reported a loss of $1.3 billion on sales of 36,000 vehicles for a per-vehicle loss of about $36,000. Shares of the auto maker declined 2.7%.
Dexcom , the maker of glucose monitoring systems, reported third-quarter earnings that handily that beat expectations, and boosted its revenue forecast for 2023. Shares surged 16%.
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