Nvidia (NVDA, Financial) saw its stock rise by 0.89%, with a trading volume reaching $42.14 billion. The company, in collaboration with TSMC, is under performance pressure following production issues with the new Blackwell AI chips. Engineers identified defects during chip testing under high-pressure data center environments shortly after its release.
TSMC's stock surged by 9.79% to a record high, with $12.846 billion in trades, boasting a market cap exceeding $1 trillion. The company posted third-quarter earnings that surpassed expectations, reflecting robust AI demand. Net income reached NTD 325.3 billion, a 54% increase year-over-year. TSMC projects fourth-quarter sales between $261 billion and $269 billion, exceeding market estimates. It also expects a near 30% sales growth for 2024, with capital expenditures slightly above $30 billion.
Tesla (TSLA) experienced a minor decline of 0.20% amid news that the EU might consider combined revenues from Elon Musk's companies, like SpaceX, when calculating fines for his social media platform, X.
Netflix's (NFLX) stock declined by 2.04%. The company's third-quarter EPS was $5.40, beating the expected $5.12. Netflix added 5.07 million net subscribers in Q3, surpassing forecasts. Projected revenue growth for the year is set at 15%, with an operating margin of 27% and free cash flow between $6 and $6.5 billion.
ASML's stock rose by 2.50%, recovering from previous declines after TSMC's strong earnings report.
Broadcom (AVGO) increased by 2.66% after evaluating a potential acquisition of Intel, although no official offer was made.
Elevance Health (ELV) dropped by 10.59% due to lower-than-expected Q3 earnings, reporting $4.36 per share against the anticipated $9.66. Revenue increased to $138 billion due to growth in Carelon services, despite challenges related to Medicaid impacting member numbers.
Alphabet's (GOOGL) Class A shares fell by 1.35% due to departures in its search and advertising division amid an antitrust investigation.
Micron (MU) rose by 2.57% after launching new memory modules featuring improved data transfer rates.
Uber (UBER) decreased by 2.44% following discussions about a potential acquisition of Expedia, with the focus on CEO Dara Khosrowshahi's role in such a deal, who previously led Expedia.
