The major stock indices are down once again with the NASDAQ index leading the way once again. Yesterday the NASDAQ index fell -2.43%. The NASDAQ today fell -1.76%

A snapshot of the close shows:

  • Dow industrial average fell -251.63 points or -0.76% at 32784.29
  • S&P index fell -49.56 points or -1.18% at 4137.22
  • NASDAQ index fell -225.63 points or -1.76% at 12595.60

Despite the beat by Meta after the close yesterday, shares move sharply lower today. The stock is closing down $-11.16 or -3.73% at $288.37.

Other big cap names also fell sharply:

  • Nvidia -3.58%
  • Apple -2.59%
  • Alphabet -2.67%
  • Microsoft -3.74%

After the close earnings:

Amazon earnings :

  • Earnings Per Share (EPS): $0.94 (Expected: $0.58)
  • Revenue: $143.1 billion (Expected: $141.41 billion)
  • Q4 2023 Net Sales Outlook: $160-167 billion (Expected: $167 billion)
  • Q4 2023 Operating Income Outlook: $7.0 billion to no specific upper limit (Expected: $8.7 billion)

Segment Breakdown:

  • Online Stores Net Sales: $57.27 billion (Expected: $56.82 billion)
  • Physical Stores Net Sales: $4.96 billion (Expected: $4.99 billion)
  • Third-Party Seller Services Net Sales: $34.34 billion (Expected: $33.4 billion)
  • Subscription Services Net Sales: $10.17 billion (Expected: $10.13 billion)
  • Amazon Web Services (AWS) Net Sales: $23.06 billion (Expected: $23.13 billion)

Shares of Amazon are trading up $4.18 or 3.5% $123.75

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Ford earnings:

  • Earnings Per Share (EPS): $0.39 (Expected: $0.45)
  • Revenue: $43.8 billion (Expected: $41.22 billion)

Ford has withdrawn its FY guidance following the ratification of a tentative US labor agreement. The company is facing challenges in the electric vehicle (EV) market, as many North American customers interested in buying EVs are not willing to pay premiums for them over gas/hybrid vehicles. This has led to a significant compression of EV prices and reduced profitability.

Shares of Ford are trading down $-0.50 or -4.41% at $10.85

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Intel earnings:

  • Earnings Per Share (EPS): $0.41 (Beat, Expected: $0.22)
  • Revenue: $14.2 billion (Beat, Expected: $13.53 billion)

Key Metrics:

  • Client Computing Revenue: $7.87 billion (Beat, Expected: $7.35 billion)
  • Datacenter & AI Revenue: $3.8 billion (Miss, Expected: $3.94 billion)
  • Network & Edge Revenue: $1.45 billion (Beat, Expected: $1.37 billion)
  • Intel Foundry Services Revenue: $311 million (Beat, Expected: $254.4 million)
  • Adjusted Operating Margin: 13.6% (Beat, Expected: 8.01%)
  • Adjusted Gross Margin: 45.8% (Beat, Expected: 43.1%)
  • Mobileye Revenue: $530 million

Shares of Intel are trading up to dollars and $0.11 or 6.49% at $34.64

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Chipotle earnings:

  • Earnings Per Share (EPS): $11.32 (Beat, Expected: $10.55)
  • Revenue: $2.47 billion (Met, Expected: $2.47 billion)
  • Comparable Sales Growth: 5% (Beat, Expected: 4.37%)

Chipotle Mexican Grill Inc beat earnings expectations with an EPS of $11.32. Their revenue met expectations at $2.47 billion, and they reported strong comparable sales growth of 5%, surpassing the expected 4.37%.

Shares of Chipotle are trading up $85.53 or 4.73% at $1892