Midday update
Midday, October 28: earnings drove double-digit moves in both directions while the S&P 500 held +0.15% and the Nasdaq slipped 0.06%. • $FFIV fell…
Midday, October 28: earnings drove double-digit moves in both directions while the S&P 500 held +0.15% and the Nasdaq slipped 0.06%.
- $FFIV fell 18.80% despite beating Q4 estimates, as analysts flagged a slowing hardware-refresh cycle and uncertain AI-product contribution. Piper Sandler downgraded the stock. In two prior 18%+ drops, shares were higher a year later (median +26.4%) but lower after three months.
- Beats led the upside. STLA rose 14.49% on better-than-expected Q3 results and reaffirmed guidance. VRT gained 13.23% after beating estimates and raising its outlook on AI data-center demand. LH added 10.57% on a Q3 beat and raised guidance.
- Other decliners: CSGP lost 14.35% on a Q3 bookings slowdown tied to commercial real estate pressure. LOGI fell 10.48% as a 41%-42% December-quarter gross-margin forecast and weaker European demand outweighed a profit beat.
- Memory drew volume. MU rose 4.81% and SNDK 5.36% after SK Hynix reported record results and forecast demand outstripping supply through the end of the decade.
- Breadth: Semiconductors +1.60% (LRCX +4.82%) and Healthcare +0.87% led. Real Estate fell 1.00% and Software 0.31%.
Earnings and AI memory demand set the session's direction more than the index level did.
Not financial advice. For informational and educational purposes only.
$BSX daily pick: sell Dec 18 $37.50 put (buy-side) after the Q3 guidance cut
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