Binance hacked!

Inflation jumps to 3.6%

Amazon fails to impress

Big names report (Starbucks, Mastercard, and more)

Brazil reports primary budget deficit of 5.5 billion reais in Sept as interest burden climbs to 9% of GDP, highest since 2016

Norway debates data centre ban as power demand surges.

European Central Bank keeps key interest rate on hold at 2.5%. Whereas, Egypt’s central bank raises key interest rates by 100 basis points. Lastly, BOJ holds rates as underlying inflation aligns with 2% target for first time since 2013.

Amazon shares dropped more than 7% in after-hours trading after Q3 earnings of $1.89 per share missed estimates of $1.96, while revenue of $201.94 billion came in below the $202.31 billion forecast. AWS was a bright spot, with revenue rising 39% to $45.98 billion, beating expectations, and operating income climbing 55% to $17.77 billion. However, advertising revenue fell 11% to $19.64 billion, missing estimates, while online sales also came in below expectations. Amazon reported negative trailing 12-month free cash flow of $42.4 billion, up 386% year over year, largely due to heavy AI infrastructure spending, and maintained its 2026 capital expenditure forecast at $220 billion. CEO Andy Jassy said spending will increase meaningfully in 2027, while Amazon expects AWS growth above 40% in both 2027 and 2028.

Starbucks reported mixed fiscal fourth-quarter results, with adjusted earnings per share of $0.80 beating expectations of $0.72, while revenue fell 4% to $9.14 billion, below forecasts of $9.23 billion. Global comparable sales rose 7.2%, driven by strong U.S. performance, where sales increased 7.7%, while international sales grew just 0.9%, missing expectations. CEO Brian Niccol credited improved customer service, store renovations, menu innovation and marketing for the U.S. recovery. For fiscal 2027, Starbucks forecast adjusted earnings of $3.15–$3.25 per share, above analyst expectations, but projected a 1% revenue decline. Shares fell nearly 2% in after-hours trading as investors weighed the improving U.S. business against international weakness and a cautious revenue outlook.

Mastercard reported adjusted earnings of $5.31 per share for the quarter, beating analysts’ expectations of $5.16, as consumer spending remained resilient despite elevated inflation and economic uncertainty. Its shares rose more than 4%, while Visa and American Express gained around 2% each. Spending remained steady across income groups, supported by a stable labor market and wage growth, although higher gasoline prices contributed to increased spending. Mastercard’s cross-border payment volumes jumped 11%, reflecting continued strength in international spending and travel-related transactions. Despite ongoing concerns about inflation and interest rates, strong results across major payment networks suggest consumers continue to spend, though executives remain cautious about the outlook.

Norwegian Cruise Line Holdings shares surged 13% after the company reported better-than-expected third-quarter results and raised its 2026 financial outlook. Revenue reached $2.95 billion, beating analysts’ expectations of $2.88 billion, while adjusted earnings per share came in at $1.12, above the $0.94 forecast. The company now expects full-year adjusted EBITDA of $2.55 billion and adjusted EPS of approximately $1.70. However, bookings remain below optimal levels, prompting Norwegian to strengthen its marketing efforts and invest in attractions such as a new waterpark at its private island, Great Stirrup Cay. The company also announced that CFO Mark Kempa will step down after more than 25 years, with Chief Strategy Officer Meghan Montana set to succeed him in January.

Rivian shares climbed about 7% in after-hours trading after the electric vehicle maker reported better-than-expected third-quarter results, with revenue of $2.16 billion versus estimates of $1.99 billion and an adjusted loss of $0.48 per share, narrower than the expected $0.62 loss. Gross profit rose to $176 million from $24 million a year earlier, supported by growing software and services revenue of $605 million. Rivian also raised its 2026 delivery forecast to 67,000–70,000 vehicles and lowered its capital expenditure outlook, while improving its adjusted pre-tax loss guidance. The company delivered a record 19,248 vehicles during the quarter, with its new R2 SUV driving much of the growth. Although Rivian remains unprofitable overall, it expects the R2 to achieve positive gross margins by year-end and ended the quarter with $5.5 billion in cash, equivalents and short-term investments.

Intel shares fell 22% in after-hours trading after the chipmaker issued a weaker-than-expected fourth-quarter outlook, citing continued weakness in the PC market. Third-quarter adjusted earnings reached $0.52 per share, beating estimates of $0.40, while revenue rose 21% year over year to $16.51 billion. However, Intel forecast fourth-quarter revenue of $15 billion to $16 billion and adjusted earnings of $0.25 per share, well below analysts’ expectations. Data center and AI revenue surged 78% to $7.3 billion, but client computing revenue declined 5% to $8.1 billion. The company also faces production disruptions following an explosion at its Israeli facility, which is expected to cost about $600 million in lost revenue over two quarters. Despite strong demand for AI-related computing, Intel warned that PC market weakness could persist through the first half of next year.

Reddit shares fell more than 15% after the company issued a weaker-than-expected fourth-quarter revenue forecast and announced plans to test requiring users to log in to access the platform. Third-quarter results beat expectations, with adjusted earnings of $1.40 per share versus $1.35 estimated and revenue of $895 million compared with $878 million expected. However, fourth-quarter revenue guidance of $1 billion to $1.03 billion fell short of analysts’ $1.05 billion forecast. Reddit is also facing declining traffic from Google search, partly due to the search giant’s growing use of AI features, while daily active users rose 12% to 130.3 million, below expectations. CEO Steve Huffman said the company will focus on growing direct and logged-in users, who are more valuable to advertisers, as it adapts to changes in online search and AI.

Eli Lilly shares climbed about 7% after Q3 adjusted earnings of $7.48 per share beat estimates of $6.26, while revenue of $24.4 billion topped expectations of $22.61 billion. The company raised its 2026 revenue forecast to $91 billion–$92 billion, up from $85 billion–$87 billion, driven by strong demand for its blockbuster drugs Mounjaro and Zepbound. Mounjaro sales surged 65% to $10.72 billion, while Zepbound revenue rose 49% to $5.35 billion, both exceeding analyst estimates. However, its newer obesity pill Foundayo generated $184 million in sales, missing expectations of roughly $229 million. Lilly held 63% of the U.S. obesity and diabetes drug market, and CEO Dave Ricks said the market has significant room to expand as access to weight-loss treatments increases.

Coinbase reported a 66% increase in third-quarter adjusted net income to $719 million, benefiting from a recovery in cryptocurrency prices and gains on its digital asset investments. Earnings reached $2.51 per share, while revenue totaled $1.20 billion, slightly below analysts’ expectations of $1.233 billion. Bitcoin rose 39% during the quarter, boosting the value of Coinbase’s crypto portfolio. The company is also expanding beyond traditional cryptocurrency trading through tokenized assets, AI-powered trading tools and prediction markets, which generated more than $200 million in annualized revenue during the quarter. The number of prediction-market traders increased 60% from the previous quarter, highlighting Coinbase’s efforts to diversify its business and reduce reliance on crypto trading.

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