Meta, UPS, ServiceNow, IBM, Comcast, Align, Mattel, Sunnova, and More Movers

Third-quarter earnings at
International Business Machines
(IBM) edged Wall Street estimates, and the company’s CEO said IBM’s push into artificial intelligence was starting to pay off. The stock rose 3.6%.

United Parcel Service
(UPS) dropped 4.7% after third-quarter revenue missed analysts’ estimates and the shipping company reduced its fiscal-year revenue outlook.

ServiceNow
(NOW) posted better-than-expected third-quarter adjusted earnings and raised its full-year financial guidance. The IT workflow-management software company said it has continued to add generative artificial intelligence across its product line. Shares rose 7.3%.

Comcast
(CMCSA) was falling 6.1%. Third-quarter earnings topped Wall Street forecasts but the company lost 18,000 domestic broadband customers in the period. Subscribers to its video business also fell.

Align Technology
(ALGN) was down 22% after the maker of Invisalign orthodontic aligners reported third-quarter adjusted earnings and revenue that missed analysts’ estimates. The company said the results reflected “lower-than-expected demand and a more difficult macro environment than we experienced in the first half of 2023.”

Endeavor Group
(EDR) jumped 21% after private-equity firm Silver Lake said it was looking to take the sports and entertainment company private. Silver Lake owns about 71% of Endeavor’s voting stake.

Southwest Airlines
(LUV) fell 2% after the carrier said revenue per available seat mile, or unit revenue, was expected to fall between 9% and 11% in the fourth quarter from last year.

Mattel
‘s (MAT) third-quarter earnings beat expectations and the toy maker raised its profit forecast for the fiscal year. Sales in the third quarter rose 9% to $1.92 billion, driven by growth in its dolls segment, such as Barbie and Disney Princess dolls. The stock, however, dropped 11% after
Mattel
warned of slowing demand as it enters the holiday season.

Fellow toy maker
Hasbro
(HAS) declined 11%. The company’s third-quarter earnings and revenue missed analysts’ expectations and Hasbro slashed its full-year outlook.

Bristol Myers
(BMY) posted third-quarter earnings and revenue that beat Wall Street estimates but sales of cancer-fighting drug Revlimid fell during the period. The stock was down 3.1%.

Sunnova Energy International
(NOVA) was up 15% after the residential and commercial solar energy company said it has taken “several actions to increase corporate liquidity” that have lowered its capital needs in 2024 to zero from an anticipated $500 million.

Amazon.com
(AMZN) is expected by Wall Street to report third-quarter earnings Thursday of 58 cents a share on sales of $141.5 billion, up 11% from a year earlier. The keys to the quarter will be a continued recovery in Amazon’s flagship online stores business, an expected rebound in the growth rate for Amazon Web Services, the company’s cloud computing business, and continued strength in its advertising arm.

Intel
(INTC) also is scheduled to report quarterly earnings after the closing bell Thursday.

Write to Joe Woelfel at [email protected]