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Shares of Genuine Parts dropped by approximately 20% following weaker-than-expected third-quarter earnings, with the company earning $1.88 per share, falling short of analysts’ expectations. On the other hand, General Motors saw its stock rise over 9% after surpassing third-quarter projections and increasing its full-year forecast. Verizon Communications experienced a 4% dip in its stock price despite reporting third-quarter revenue below expectations, while GE Aerospace fell more than 9% after mixed third-quarter results. Philip Morris International, on the other hand, saw a nearly 9% increase in its stock price after reporting strong third-quarter results and raising its 2024 guidance.
Lockheed Martin observed a more than 5% slide in its stock price due to third-quarter revenue missing expectations, although earnings exceeded forecasts and the company raised its full-year outlook. Deckers Outdoor shares fell nearly 3% following a downgrade from BTIG, while First Solar saw a 3.4% increase after receiving an upgrade from Citi. Zions Bancorporation experienced a more than 7% rise in its stock price after better-than-expected quarterly results, and Nucor saw an 8% drop as it projected a decline in GAAP earnings per share for the current period. Sherwin-Williams shares also dropped nearly 4% after missing estimates in its third-quarter results. Paccar shares declined over 5% following a decrease in deliveries, while Quest Diagnostics rallied nearly 7% after beating analysts’ expectations in the third quarter. Norfolk Southern shares rose 4% after reporting earnings and revenue that surpassed analysts’ projections.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.