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The Marked Chart Wire · Business
Avis Budget Group
Avis Budget Group reported third-quarter earnings of $5.15 per share, falling short of the $8.31 expected by analysts. Revenue came in at $3.44 billion, slightly exceeding the $3.41 billion forecast.
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AMD
AMD stock rose nearly 9 percent after hours as third-quarter revenue hit $13.38 billion and data center sales grew 97 percent. The company guided fourth-quarter revenue to about $17 billion, beating expectations.
Cvs Spinoff
Sources say Cvs is evaluating a separation of its 9,000-store pharmacy chain from its insurance and health services divisions. The move would partially unwind the 2018 Aetna deal as regulators target pharmacy benefit manager ownership structures.
Meta
Meta Platforms issued $15 billion in bonds with coupons ranging from 5.85 percent to 7.50 percent. The deal includes maturities through 2056 and is expected to settle on November 5.
3M
The company approved $6 billion in new share repurchases, lifting total capacity to $7.5 billion. A quarterly payout of $0.78 per share will be paid on December 11.
HotEarnings
Advanced Micro Devices and Arista Networks posted significant revenue growth and raised their outlooks, driving stock gains in after-hours trading. AMD's data center sales nearly doubled, while Arista's revenue surged 58.5 percent.
Data Centers
The company purchased two sites in North Carolina for $60 million in cash. Initial operations are expected to begin by the end of 2027, contingent on securing necessary power and financing.
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