{"id":8026,"date":"2023-11-01T10:21:51","date_gmt":"2023-11-01T10:21:51","guid":{"rendered":"https:\/\/infundpros.com\/markets\/amd-paycom-software-first-solar-match-wework-yum-china-and-more-market-movers\/"},"modified":"2023-11-01T10:21:52","modified_gmt":"2023-11-01T10:21:52","slug":"amd-paycom-software-first-solar-match-wework-yum-china-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8026","title":{"rendered":"AMD, Paycom Software, First Solar, Match, WeWork, Yum China, and More Market Movers"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Stock futures traded lower Wednesday\u00a0with the Federal Reserve expected to leave interest rates unchanged at the conclusion of its two-day policy meeting. <\/p>\n

Wall Street begins a new month Wednesday after the
\n S&P 500
\n closed out October with its third-straight month of losses.<\/p>\n

These stocks were poised to make moves Wednesday:\u00a0<\/p>\n

\n

\n Advanced Micro Devices
\n (AMD) reported third-quarter adjusted earnings of 70 cents a share, beating analysts\u2019 estimates by 2 cents, but the chip maker\u2019s revenue forecast for the fourth quarter was shy of expectations. AMD said it expects revenue in the period of \u201capproximately $6.1 billion, plus or minus $300 million,\u201d while Wall Street was estimating revenue of $6.4 billion. CEO Lisa Su said AMD expects data-center GPU products to generate about $400 million of revenue in the fourth quarter and surpass $2 billion in 2024. AMD shares fell 2.5% in premarket trading.<\/p>\n

Shares of
\n Paycom Software
\n (PAYC) plunged 36% after the provider of cloud-based human capital management software said it expects fourth-quarter revenue of $420 million to $425 million, below analysts\u2019 estimates of $452 million. Paycom also forecast adjusted earnings before interest, taxes, depreciation and amortization of $169 million to $174 million versus expectations of $189 million. <\/p>\n

Solar panel company
\n First Solar
\n (FSLR) reported third-quarter earnings that topped estimates but revenue of $801.1 million that missed forecasts of $904.1 million. The company raised the lower end of its 2023 earnings guidance. The stock rose 4.4% in premarket trading.<\/p>\n

\n Match Group
\n (MTCH), the parent company of online dating platforms Tinder, Hinge, and OkCupid, fell 7.3% after saying it anticipates fourth-quarter revenue of $855 million to $865 million, below analysts\u2019 estimates of $894.2 million. Match also said it expected revenue growth for the full year at the low end of its guidance range.\u00a0<\/p>\n

\n WeWork
\n (WE) was down 36% at $1.45 after The Wall Street Journal reported that the flexible-office-space provider\u00a0was planning to file for bankruptcy as early as next week. The Journal cited people familiar with the matter.<\/p>\n

\n Yum China
\n (YUMC) tumbled 12% after the owner of Pizza Hut, KFC, and other fast-food brands in China reported third-quarter earnings that came up short of estimates and said it had \u201cobserved softening consumer demand.\u201d<\/p>\n

\n Caesars Entertainment
\n (CZR) was up 4.6% after the casino operator reported third-quarter profit higher than a year earlier as revenue rose 3.7% to $2.99 billion, beating analysts\u2019 estimates. <\/p>\n

\n Livent
\n (LTHM) dropped 4.5% after the lithium-ore miner missed third-quarrer earnings and revenue expectations and reduced revenue guidance for the full year.\u00a0<\/p>\n

Earnings reports are expected Wednesday from
\n Qualcomm
\n (QCOM),
\n CVS Health
\n (CVS),
\n Airbnb
\n (ABNB),
\n Humana
\n (HUM),
\n PayPal
\n (PYPL),
\n Kraft Heinz
\n (KHC),
\n Mondelez
\n (MDLZ),
\n Electronic Arts
\n (EA),
\n DuPont
\n (DD),
\n DoorDash
\n (DASH),
\n Etsy
\n (ETSY), and
\n Albemarle
\n (ALB).<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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