Apple, Palantir, Shopify Slide Despite Earnings Beats
Bull and Market Open logo. (Source: Stockhouse)

Markets were mixed today as investors entered U.S. Election Day with a busy earnings schedule and a $5 trillion AI rout still fresh in memory. The TSX gained 0.51% and the Nasdaq rose 0.38%, while the TSX Venture Index slipped 0.37% and the Dow fell 0.33%. The FTSE 100 dropped 0.45%.

Oil tumbled 2.91% to 93.50 even as higher prices boosted Saudi Aramco’s profits despite disruption from attacks. Copper fell 1.52% while gold gained 0.48% and natural gas edged up 0.35%. Bitcoin rose 1.02% to just above C$108,000, and the Loonie was little changed against the greenback as U.S. midterms stayed in focus.

Market numbers

TSX: Up (+0.51%) 35,801.09

TSXV: Down (-0.37%) 800.83

DOW: Down (-0.33%) 51,836.5

NASDAQ: Up (+0.38%) 28,180.4

FTSE 100: Down (-0.45%) 10,718.63

In the headlines

  • Apple slides 3% after Ternus’ first earnings beat as holiday margins disappoint: Apple (NASDAQ:AAPL), the consumer technology giant behind the iPhone, Mac and Apple Watch, fell 3% after beating earnings in John Ternus’ first report as CEO, with holiday-quarter margin guidance falling short of expectations. Apple still generated roughly twice as much free cash flow as Microsoft, Meta, Alphabet and Amazon combined.
  • Palantir nearly doubles revenue to a record, but traders dump the stock: Palantir Technologies (NASDAQ:PLTR), the data analytics and AI software company, reported record revenue that nearly doubled from a year ago, yet shares sold off anyway. The reaction suggests expectations for the stock were already sky-high.
  • Shopify tanks as Q3 revenue and order value miss estimates: Shopify (TSX:SHOP), the Canadian e-commerce platform that powers online stores for merchants worldwide, fell sharply after third-quarter revenue and gross merchandise volume missed Wall Street estimates, its first revenue miss since 2022. The company reported US$462 million in net income, with revenue up more than 30 per cent.

Currencies

USD: Up (+0.04%) $0.7149

GBP: Down (-0.11%) $0.5323

EUR: Down (-0.03%) $0.63897

JPY: Up (+0.11%) ¥113.071

AUD: Up (+0.13%) $1.0226

Bitcoin (BTC/CAD): Up (+1.02%) 108,406.7

(Conversion to C$1)

Commodities

Copper: Down (-1.52%) 6.51679

Gold: Up (+0.48%) 3,965.44

WTI: Down (-2.91%) 93.50

Natural Gas: Up (+0.35%) 2.895

To stay up-to-date on all of your market news head to Stockhouse.com.

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