Market Flips and Falls as Meta and MSTR Fall After Earnings | Wall Street Today

After 4 pm ET,     $S&P 500 Index (.SPX.US)$ fell 0.33%, the         $Dow Jones Industrial Average (.DJI.US)$ fell 0.22%, and the     $Nasdaq Composite Index (.IXIC.US)$ fell 0.56%.

Within industries tracked by moomoo, internet stocks flew on earnings results. By the end of the day the sector was lower, but still   $Reddit (RDDT.US)$ jumped 41% after announcing a surprise profit for the past quarter, after the firm said it might never turn a profit in its recent public listing.   $NerdWallet (NRDS.US)$ jumped 31%  following the release of third-quarter financial results that beat estimates.   $Alphabet-C (GOOG.US)$ and   $Alphabet-A (GOOGL.US)$ also flew higher after beating ad revenue estimates Tuesday night. On the other side of the spectrum, $Trump Media & Technology (DJT.US)$ fell 22% after facing high volatility.

$Crude Oil Futures(APR5) (CLmain.US)$ climbed a bit after starting the week with a major fall Monday following muted clapback attacks from Israel on Iran. $Bitcoin (BTC.CC)$ hovered close to all-time highs at $72k, Gold traded at an all-time high. The   $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the       $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed to levels not seen since July and August.

$Super Micro Computer (SMCI.US)$ fell 30% after the firm said Wednesday that its accounting contractor - Ernest and Young - resigned with fears that SMCI was not upholding ethical accounting and reporting practices, about a week before the next expected earnings date. The firm delayed its reporting in August and has still not reported its full-year results for a fiscal year that ended in June after running into accounting issues. It was the largest decliner on the S&P 500.

$Meta Platforms (META.US)$ shares slipped 3.2% in extended trading after the company raised the low end of its capital expenditures outlook, overshadowing the earnings and revenue beat for the third quarter.

$Advanced Micro Devices (AMD.US)$ fell 9% Wednesday, the lowest on the Nasdaq 100 hind SMCI after the chipmaker's Tuesday release of fourth-quarter revenue outlook missed analysts' estimates. Its Q3 results, otherwise mostly met or beat analyst estimates, were the forward-looking statements that hurt.

$Strategy (MSTR.US)$ shares fell 8% after reporting a Q3 adjusted loss of $1.56/share, worse than estimated. The firm also missed revenue estimates, coming in 10% lower year over year at $116.07M.

$Coinbase (COIN.US)$ also joined MSTR in falling 6% after its earnings after the bell came in at a miss, showing earnings of $0.28/share, below estimates of $0.42. The crypto trading firm showed sales came in lower at $1.21B than estimates of $1.26B. Both numbers were dramatically higher than a year ago period- sales grew by 78%.

$Microsoft (MSFT.US)$ reported Q1 fiscal 2025 adjusted earnings of $3.30/share, vs estimates of $3.11/share, on revenue of $65.59B vs estimates of $64.51B.

We want YOU to tune in live on November 5th, U.S. election day, for a special moomoo news and community event. Come watch Nov 5th at 6:30 PM ET as the vote counts roll in with our local news team and a party of guests! Subscribe: click here to join the live discussion NOW!