McDonald’s, Ford, Pfizer report Q3 earnings beats: Morning Buzz

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

1. STOCK NEWS:

• McDonald’s (MCD) reported upbeat Q3 results, with the company saying most major markets are growing share
• Pfizer (PFE) provided a “beat and raise” report for Q3
• Ford (F) reported better-than-expected Q3 results but lowered its FY24 adjusted EBIT guidance
• Boeing (BA) shares were falling after its 112.5M share offering priced at $143 per share
• PayPal (PYPL) provided a “beat and raise” report for Q3

2. WALL STREET CALLS:

• Trade Desk (TTD) downgraded to Sell at New Street on difficult post-election comps
• First Solar (FSLR) upgraded to Buy at Janney Montgomery Scott ahead of earnings
• Barclays upgraded Summit Materials (SUM) to Overweight
• Stephens upgraded Regions Financial (RF) to Overweight
• Celanese (CE) downgraded to Sell at Vertical Research as fundamental pressure mounts

3. AROUND THE WEB:

• Apple (AAPL) is using an Indian factory to do the early manufacturing work for the base model of the iPhone 17, Information reports
• SkyTaxi, a charter company working for Charles River (CRL), was recently find C$7,500 by Canadian authorities for improperly shipping long-tailed macaques into the country and the flights have now prompted a probe by officials who oversee an international treaty governing endangered species, STAT reports
• JPMorgan (JPM) CEO Jamie Dimon intends to oppose U.S. financial regulatory initiatives he believes would not make banks safer, Reuters reports
• Luckin Coffee (LKNCY) plans to enter the U.S. market as early as next year, FT says
• EssilorLuxottica (ESLOY) is giving its “full support” to Chief Strategy Officer leonardo Maria Del Vecchio after he was placed under investigation by Italian prosecutors, FT reports

4. MOVERS:

• GeneDx (WGS) increases after reporting quarterly results, with EPS and revenue beating consensus
• Opera (OPRA) and Tenet Healthcare (THC) gain in New York after reporting quarterly results
• F5 Networks (FFIV) higher after reporting quarterly results and authorizing a $1B stock buyback
• Janus (JBI) lower after reporting Q3 results and lowering its FY24 guidance
• TransMedics (TMDX) and Harmonic (HLIT) falls after reporting quarterly results

5. EARNINGS/GUIDANCE:

• VF Corp. (VFC) reported Q2 results and provided guidance for Q3, with CEO Bracken Darrell commenting, “Our results in the quarter met our expectations”
• SoFi Technologies (SOFI) reported Q3 results, with EPS and revenue beating consensus
• Royal Caribbean (RCL) reported Q3 results and raised its guidance for FY24
• Crocs (CROX) reported Q3 results and narrowed its guidance for FY24
• IPG Photonics (IPGP) reported Q3 results, with EPS and revenue beating consensus

INDEXES:

Near midday, the Dow was down 58.32, or 0.14%, to 42,329.25, the Nasdaq was up 93.47, or 0.50%, to 18,660.66, and the S&P 500 was up 9.20, or 0.16%, to 5,832.72.