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Shares of Elevance Health dropped more than 10% after the health insurer reported lower-than-expected third-quarter earnings. Despite facing challenges in the Medicaid business, CEO Gail Boudreaux expressed confidence in the company’s future. Molina Healthcare and Centene also saw declines of nearly 9% and over 7%, respectively. Taiwan Semiconductor witnessed a surge of over 8% following a 54% increase in net profit for the third quarter. This positive performance also benefited chip giant Nvidia, resulting in a more than 3% rise in its shares. Expedia experienced a nearly 5% jump after reports suggested that Uber was considering a potential takeover bid for the online travel company. Additionally, Lucid Group’s stock plummeted by 18% due to a public offering of common stock and increased investment from Saudi Arabia’s Public Investment Fund. Nokia saw its shares slide by more than 5% after reporting an 8% sales decline in the Indian market for the third quarter. Reassuringly, the company’s profit increased by 22%, with CEO Pekka Lundmark anticipating full-year profit to align with guidance. Conversely, CSX experienced a more than 4% drop in its transportation stock following lower-than-anticipated quarterly results. On a positive note, Alcoa’s shares rallied nearly 7% after beating earnings expectations for the third quarter. Although revenue fell short of estimates, the aluminum producer’s performance was still well-received. Kinder Morgan faced a 2.1% decline in its energy infrastructure stock after missing analysts’ earnings projections for the third quarter. In summary, a mix of positive and negative earnings reports influenced stock movements in the market.

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