SpaceX and Super Micro lift the Nasdaq 1.1% as AT&T and Netflix slide; Meta and Tesla report after the bell
After the close, Wednesday October 21: what moved, why, and what to watch next.
The close
| Index | Day |
|---|---|
| S&P 500 | +0.6% |
| Dow Jones Industrial Average | +0.7% |
| Nasdaq Composite | +1.1% |
Moves are rounded. All three major indexes finished higher for the day. The Nasdaq led, helped by technology after strong results from SpaceX and Super Micro Computer.
What moved, and why
SpaceX and Super Micro led. SpaceX shares rallied after the company posted its first profit as a public company, and Elon Musk said a merger of SpaceX and Tesla would be a good idea. Super Micro jumped after forecasting quarterly revenue and profit margin above Wall Street estimates. Chip stocks rallied as well, after an eight-session selloff. See our SpaceX story and Toast & Tickers.
AT&T and Netflix fell. AT&T fell after its quarterly report. Netflix sank after a weaker-than-expected profit forecast for the fourth quarter. Abbott Laboratories also fell.
Oil ended flat. Brent settled at $108.82 a barrel, up 3 cents, and U.S. crude settled at $97.15, down 67 cents. See our Brent story.
Earnings reaction elsewhere. United Airlines, Thermo Fisher, Intuitive Surgical and Boeing's 737 MAX 10 were among the day's company stories. Mortgage applications fell too; see our story.
After the bell
Meta reported third-quarter revenue of $64.6 billion, up 26%, above analyst estimates, and earnings of $3.83 a share, which included a $9.89 billion legal charge tied to a settlement with 52 state attorneys general. It guided fourth-quarter revenue to $73 billion to $76 billion and approved a new class of nonvoting stock. Shares rose in after-hours trading.
Tesla reported revenue of $28.05 billion and adjusted earnings of 48 cents a share, with automotive revenue of $20.56 billion. Its shares edged higher after hours.
What to watch next
Reaction to the Meta and Tesla reports will set the tone when markets open Thursday. Ticker Den's next edition is First Light on Thursday morning.
