Try the businesses making headlines earlier than the bell. Elevance Well being – Shares plummeted greater than 10% after the well being insurer reported weaker-than-expected third-quarter earnings. In a press release , CEO Gail Boudreaux stated the corporate stays “assured” amid “unprecedented challenges within the Medicaid enterprise.” Well being care shares Molina Healthcare and Centene additionally fell almost 9% and greater than 7%, respectively. Taiwan Semiconductor – The inventory surged greater than 8% after the corporate reported a 54% acquire in internet revenue for the third quarter. Shares of chip large Nvidia – one in every of TSMC’s shoppers – rose greater than 3% in sympathy following the quarterly outcomes. Expedia – Shares jumped almost 5% after The Monetary Occasions reported, citing folks acquainted with the method, that Uber explored a possible takeover bid for the net journey firm. In response to Monetary Occasions sources, Uber’s curiosity in Expedia was at an “early stage.” Uber shares fell greater than 2%. Lucid Group – The inventory tumbled 18% after the electrical automobile maker introduced a public providing of almost 262.5 million shares of its widespread inventory. Lucid additionally stated its majority stockholder, Saudi Arabia’s Public Funding Fund affiliate Ayar Third Funding, will buy greater than 374.7 million shares of its widespread inventory. Nokia – Shares slid greater than 5% after the corporate reported an 8% dip in gross sales for the third quarter, citing a slowdown within the Indian market. Nokia’s revenue for the interval, nonetheless, elevated 22%. Trying forward, CEO Pekka Lundmark stated in a press release that he expects full-year revenue to come back in “inside the bottom-half” of its steering vary. CSX – The transportation inventory fell greater than 4% following the corporate’s weaker-than-expected quarterly outcomes. For the third quarter, CSX posted earnings of 46 cents per share on income of $3.62 billion. That is beneath the 48 cents per share and $3.67 billion in income that analysts have been anticipating, per LSEG. Alcoa – Shares rallied almost 7% following the aluminum producer’s earnings beat. Alcoa reported third-quarter adjusted earnings of 57 cents per share, versus the 28 cents a share anticipated from analysts polled by LSEG. Nevertheless, income got here in at $2.90 billion, beneath the $2.97 billion consensus estimate. Kinder Morgan – The power infrastructure inventory slipped 2.1% after third-quarter earnings missed analyst expectations. Kinder Morgan posted adjusted earnings per share of 25 cents on $3.70 billion in income. Analysts polled by LSEG had forecasted 27 cents a share and $3.98 billion, respectively. — CNBC’s Alex Harring and Michelle Fox Theobald contributed reporting.
