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The Marked Chart Wire · Business
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.
Part of a series: AMD navigates supply limits and posts strong quarterly results
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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.
AMD Earnings
AMD reported adjusted earnings of $2.09 per share against a $1.95 estimate and revenue of $13.38 billion. The company guided for fourth-quarter revenue of $17 billion, exceeding the $16.23 billion consensus.
AMD
Data shows the chipmaker's shares have averaged a 9.22 percent absolute move the day after results, with recent reactions ranging from an 18.61 percent gain to a 17.31 percent drop.
AMD
Advanced Micro Devices stock has fallen 26 percent over the past month. Investors will watch Tuesday's third-quarter results for signs of accelerating data center sales.
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.
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