Earnings live: S&P 500 on track for solid Q3 season, with reports from Macy's, C3.ai, Salesforce on deck

S&P 500 institution net successful the 3rd 4th person mostly been solid. And with astir each of the reports in, the 13.4% net maturation complaint truthful acold is apt to hold.

Although astir (83%) of the net surprises person been to the upside, investors person been little enthusiastic astir net beats and much punishing astir net disappointments, arsenic indicated by the reactions successful idiosyncratic banal names.

According to FactSet's John Butters, arsenic of Nov. 21, S&P 500 companies that person reported 3rd 4th net beats person seen their banal terms summation by an mean of 0.4% successful the four-day play astir their net release. This is little than the five-year mean summation of 0.9%.

For companies that miss net estimates, the absorption has been disproportionately negative.

Companies that study net beneath expectations person seen their banal alteration by 5% connected mean during the aforesaid play (two days earlier the net merchandise done 2 days after). This is good beneath the five-year mean alteration of 2.6%.

Concerns astir an artificial quality bubble, slowing user spending, and Federal Reserve complaint cuts were successful flux passim the season. And sky-high expectations created a precocious barroom for immoderate idiosyncratic names, specified arsenic Nvidia (NVDA).

Deere and Co's (DE) banal fell 5% earlier the doorbell connected Wednesday aft its archetypal outlook for the twelvemonth fell abbreviated of analysts' expectations. Uncertainty continues to situation the timing for a betterment successful the US workplace economy.

Bloomberg News reports:

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Workday (WDAY) reported rising net that bushed estimates connected Tuesday, but the banal was down astir 6% successful after-hours trading, arsenic the subscription gross guidance boost wasn't arsenic ample arsenic investors were hoping for.

The institution posted net per stock of $0.94, vs. expert estimates of $0.87 per share.

Workday recorded $2.432 cardinal successful full gross during the quarter, including $2.24 cardinal successful subscription revenue. The Street was expecting full gross to beryllium $2.417 billion.

Its full bid backlog accrued 17% twelvemonth implicit twelvemonth to $25.96 billion.

For the 4th fourth ending successful January, Workday expects subscription gross of $2.35 billion. The institution besides updated its full-year fiscal 2026 outlook slightly, guiding for subscription gross of $8.82 billion, representing maturation of 14.4%, compared to its erstwhile guidance of $8.81 billion.

Listen to the net telephone here.

Cloud information supplier Zscaler (ZS) reported an net and gross bushed for its fiscal archetypal quarter, but the banal was nether unit owed to the company's operating nonaccomplishment and a weaker-than-expected full-year nett outlook.

Zscaler's nett nonaccomplishment per stock was $0.07, compared to a nonaccomplishment of $0.11 estimated by analysts, according to S&P Global Market Intelligence. Revenue came successful astatine $788.1 million, an summation of 26% twelvemonth implicit year, compared to $773.8 cardinal estimated.

Operating losses accrued twelvemonth implicit twelvemonth to $36.3 cardinal during the 4th from $30.6 cardinal a twelvemonth ago.

For the 4th quarter, Zscaler expects to bring successful gross of $797 cardinal to $799 million. For the afloat year, the institution sees gross of astir $3.282 cardinal to $3.301 cardinal and nett income per stock of $3.78 to $3.82. For that past metric, Wall Street was expecting full-year net of $4.00 per share.

The banal dropped implicit 6% successful after-hours trading arsenic the net telephone got underway.

You tin perceive to the net telephone unrecorded here.

Dell (DELL) banal fell little than 1% successful extended trading aft the institution somewhat missed Wall Street's gross estimates but issued 4th fourth fiscal guidance supra expectations.

From Reuters:

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Chinese EV shaper NIO (NIO) reported it delivered 87,071 vehicles successful the 3rd 4th of 2025, marking a 40.8% summation twelvemonth implicit twelvemonth arsenic contention successful China's EV marketplace has intensified among NIO, XPeng (XPEV), Tesla (TSLA), and others.

Despite posting beardown October deliveries and a smaller nonaccomplishment per stock than expected, NIO shares fell much than 1% up of the opening bell.

NIO reported a nonaccomplishment per stock of 1.51 yuan ($0.21) successful the September quarter, a shallower nonaccomplishment than the 1.64 yuan ($0.23) nonaccomplishment per stock analysts expected. The company's gross of 21.79 cardinal yuan ($3.07 billion) came successful a spot lighter than estimates for 22.29 cardinal yuan ($3.14 billion).

"The beardown momentum was driven by the all-around competitiveness of our NIO, ONVO, and FIREFLY marque offerings, which proceed to resonate with users crossed their respective marketplace segments,” NIO CEO William Bin Li said. “We are moving intimately with proviso concatenation partners to ramp up accumulation and expect full deliveries successful the 4th fourth to scope betwixt 120,000 and 125,000 units, reflecting a year-on-year summation of 65.1% to 72.0% and mounting a caller quarterly record.”

Listen to a replay of the company's net telephone here.

Dick's Sporting Goods (DKS) banal fell aft the institution reported its archetypal quarterly results since acquiring Foot Locker.

Shares fell 2% successful premarket trading aft the sporting goods retailer reported GAAP net per diluted stock of $2.07, compared to estimates of $2.71, according to S&P Global Market Intelligence.

Dick's Sporting Goods besides raised its full-year net guidance to a scope of $14.25 to $14.55, up from $13.90 to $14.50 previously.

In the 3rd quarter, same-store income accrued 5.7% twelvemonth implicit twelvemonth during the quarter. But the company's outgo of goods sold besides roseate arsenic the institution accrued inventories and completed its Foot Locker acquisition.

Abercrombie & Fitch (ANF) banal surged implicit 18% successful premarket trading aft beardown income astatine the company's Hollister marque lifted earnings.

The retailer reported net per stock of $2.36, compared to analysts' estimates of $2.16, according to S&P Global Market Intelligence. Net income reached $1.29 billion, besides supra estimates for $1.27 billion.

Overall, same-store income roseate 3% twelvemonth implicit year, driven by a 15% income summation for the Hollister marque and a 7% income diminution for Abercrombie.

“We achieved 3 years of consecutive quarterly income growth, delivering grounds 3rd 4th nett sales, with 7% maturation to past year," CEO Fran Horowitz said successful the release. "Hollister brands grew 16% connected a beardown decorativeness to back-to-school and autumn seasonal transition. Abercrombie brands made sequential advancement in-line with our expectations, and we are tightly managing inventory arsenic we purpose for 4th fourth marque nett income to beryllium astir level to past year’s record."

The institution raised the little extremity of its full-year outlook for nett income maturation to a scope of 6% to 7%, portion nett income per diluted stock is expected to travel successful astatine $10.20 to $10.50. Previously, the institution saw nett income increasing 5% to 7% and nett income successful a scope of $10.00 to $10.50.

Best Buy's (BBY) 3rd 4th results bushed analysts' estimates arsenic the institution raised its full-year outlook connected Tuesday.

The retailer, which is heading into the vacation season, said that its income were driven by "strong results crossed computing, gaming and mobile phones." Shares successful Best Buy roseate 3% during premarket trading.

Yahoo Finance's elder newsman Brooke DiPalma looks into the latest net study from the retail chain.

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Kohl's (KSS) banal soared 42% connected Tuesday aft the retailer reported better-than-expected 3rd 4th results. Both net and gross surpassed Wall Street estimates. The retailer besides accrued its full-year outlook.

Investing.com reports:

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Alibaba (BABA) banal roseate 4% earlier the doorbell connected Tuesday aft the Chinese e-commerce elephantine bushed analysts' estimates for quarterly ​revenue, arsenic investments successful ‌one-hour transportation helped thrust much users to its buying apps,‌ portion its unreality part reported beardown growth.

Reuters reports:

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Zoom (ZM) banal bounced 3% higher successful extended trading connected Monday aft the communications bundle institution bushed net expectations, raised its yearly outlook, and accrued its banal buyback authorization by $1 billion.

Here's what Zoom reported for the 3rd quarter, compared to estimates compiled by S&P Global Market Intelligence.

Zoom CEO Eric Yuan noted that customers' adoption of the company's AI offerings continues to expand, thing investors were watching going into the report, on with AI monetization.

“Zoom is continuing to physique connected our imaginativeness of an AI‑first level that helps radical link and collaborate much seamlessly,” Yuan said. “This 4th we announced AI Companion 3.0, and we’re thrilled to spot AI Companion adoption turn meaningfully. We’re besides seeing beardown momentum with Custom AI Companion and our AI‑first Customer Experience suite, which helped marque this 1 of our champion CX quarters, with wide AI adoption crossed large deals."

Zoom besides raised its fiscal outlook slightly. The institution present expects full gross for the twelvemonth betwixt $4.852 cardinal and $4.857 billion, compared to its anterior guidance of betwixt $4.825 cardinal and $4.835 billion.

The institution besides raised its net per stock guidance to a scope of $5.95-$5.97 from $5.81-$5.84 previously.

With astir each S&P 500 (^GSPC) companies' 3rd 4th net reports logged, the scale is tracking for an net maturation complaint of 13.4%, according to FactSet's John Butters. While 83% of companies person reported a affirmative net surprise, it's the gross maturation successful Q3 that stands out.

Butters notes that S&P 500 companies are reporting the highest gross maturation complaint successful 3 years.

If it holds, the S&P 500's existent blended gross maturation complaint of 8.4% successful Q3 would beryllium the highest people since Q3 2022, erstwhile the scale posted a gross maturation complaint of 11%.

The Health Care, Financials, and Consumer Discretionary sectors person led the gross maturation trend, with companies specified arsenic Cardinal Health (CAH), Morgan Stanley (MS), Ford (F), Amazon (AMZN), and Tesla (TSLA), among galore others, contributing significantly.

At the aforesaid time, net maturation has slowed for the tech highfliers that person led the markets.

Now that Nvidia (NVDA), the past of the "Magnificent Seven" companies to study earnings, has issued its quarterly release, Butters writes that the Magnificent Seven reported net maturation of 18.4% for the 3rd quarter.

That's the lowest net maturation complaint for this radical of stocks (Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon, Meta (META), Tesla, and Nvidia) since Q1 of 2023.

"The weaker show comparative to expert expectations and the little net maturation complaint for the 'Magnificent 7' companies are chiefly owed to the antagonistic EPS astonishment reported by Meta Platforms ($1.05 vs. $6.72) for Q3," Butters explained.

"Despite the little maturation complaint comparative to caller quarters, 4 of the 'Magnificent 7' companies (NVIDIA, Alphabet, Amazon.com, and Microsoft) are among the apical 7 contributors to net maturation for the S&P 500 for the 3rd quarter."

Gap (GAP) banal climbed much than 9% successful midday trading Friday arsenic investors cheered connected a beardown 4th from the apparel company.

In an interrogation with Yahoo Finance, Gap CEO Richard Dickson described the company's latest quarterly show arsenic a "playbook" that's working.

Yahoo Finance's Francisco Velasquez reports:

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BJ's (BJ) reported 3rd 4th fiscal 2025 net that bushed analysts' expectations connected Friday. The retailer's banal roseate 4% earlier the doorbell aft the institution raised its full-year nett outlook connected the spot of its rank income.

The wholesale nine relation posted adjusted net per stock of $1.16, beating the expert statement of $1.10.

Investing.com reports:

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Gap (GAP) banal popped successful extended trading aft the apparel institution topped net expectations and delivered an upbeat outlook.

The retailer reported net per stock of $0.62, which surpassed estimates, and $3.9 cardinal successful gross arsenic same-store income grew 5% twelvemonth implicit year. Wall Street was expecting $3.9 cardinal successful gross and $0.59 per stock successful earnings, according to S&P Global Market Intelligence.

Gap's 3 halfway brands — the namesake Gap brand, Old Navy, and Banana Republic — showed spot during the quarter, portion athleisure marque Athleta was the wide laggard. Same-store income astatine Gap roseate 7% twelvemonth implicit year, income astatine Old Navy roseate 6%, and income astatine Banana Republic roseate 4%. Athleta's same-store sales, meanwhile, dropped 11%, arsenic Gap said it's applying a "reinvigoration playbook" to the brand.

Gap besides raised the little extremity of its full-year gross forecast. It present sees 1.7% to 2% top-line growth, up from its erstwhile guidance of 1% to 2%.

"The spot of our 3rd 4th and quarter-to-date show positions america good for the vacation selling play and gives america the assurance to summation our afloat twelvemonth nett income outlook to the precocious extremity of our anterior guidance scope and rise our afloat twelvemonth operating borderline outlook," CEO Richard Dickson said successful a statement.