Delta reports mixed Q3, Domino’s reports earnings beat: Morning Buzz

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Delta Air Lines (DAL) reported mixed Q3 results and provided Q4 earnings and revenue guidance
• Domino’s Pizza (DPZ) reported better-than-expected Q3 earnings, with U.S. comp sales growth of 3%
• Starboard Value issued a letter to Pfizer’s (PFE) board of directors after former Pfizer CEO Ian Read and former CFO Frank D’Amelio said they are “not involved” in the activist investor’s efforts
• Costco (COST) reported a 6.7% year-over-year comp sales increase in September
• Amazon (AMZN) said that Prime Big Deal Days was its “biggest October shopping event ever”

2. WALL STREET CALLS:

• Truist “more optimistic” on Nike (NKE), upgrades to Buy
• Exxon Mobil (XOM) upgraded at Scotiabank, here’s why
• PepsiCo (PEP) downgraded to Hold from Buy at TD Cowen
• PayPal (PYPL) slips after Bernstein downgrades on lack of upside to target
• JPMorgan gets more bearish on Honeywell (HON), downgrades shares

3. AROUND THE WEB:

• Palo Alto Networks (PANW) has alerted customers to urgently patch security vulnerabilities in their PAN-OS firewalls, BC reports
• Boeing (BA) and its largest union appear to be preparing for a long fight, NY Times reports
• TD Bank (TD) is expected to pay roughly $3B in penalties and accept limits on its growth in the U.S. as part of a settlement with regulators and prosecutors over charges it failed to properly monitor money laundering by drug cartels, WSJ reports
• HSBC (HSBC) CEO plans to target the lender’s expensive senior bankers in a cost-cutting restructure aimed to save as much as $300M, FT says
• Baidu (BIDU) is looking to test and deploy its Apollo Go robotaxis in places including Hong Kong, Singapore, and the Middle East, WSJ reports

4. MOVERS:

• GXO Logistics (GXO) higher after Bloomberg reported the company is working with financial advisers to explore a potential sale
• Trump Media (DJT) gains after announcing the release of its Truth+ streaming app
• IAMGold (IAG) increases in New York after National Bank upgraded the stock to Outperform
• Tilray (TLRY) falls in New York after reporting Q1 results
• I-80 Gold (IAUX) lower after National Bank downgraded the stock to Sector Perform

5. EARNINGS/GUIDANCE:

• 10x Genomics (TXG) provided guidance for Q3
• E2open (ETWO) reported Q2 results and cut its guidance for FY25
• InMode (INMD) cut its revenue guidance for FY24
• Theratechnologies (THTX) reported Q3 results, with EPS beating consensus
• Neogen (NEOG) reported Q1 results and reaffirmed its guidance for FY25

INDEXES:

Near midday, the Dow was down 95.80, or 0.23%, to 42,416.20, the Nasdaq was down 6.79, or 0.04%, to 18,284.83, and the S&P 500 was down 8.60, or 0.15%, to 5,783.44.