CVS rises on earnings beat, guidance raise

CVS Health rose in premarket trading after it reported earnings that crushed Wall Street estimates and raised its full-year outlook.

The company reported adjusted earnings per share of $1.81, compared to the $1.46 analysts polled by FactSet were expecting. It also reported revenue of $98.9 billion, higher than the $94.5 billion the Street was anticipating.

CVS now expects to report adjusted earnings per share between $6.30 and $6.40 for 2025, up from between $6.00 to $6.20. That floor is higher than the $6.12 analysts are currently pricing in.

The company put the rosy earnings report down to strength in its insurance and retail businesses, which offset a decline in its health services segment.

Shares rose more than 7% in premarket trading and are up more than 40% since the start of the year.

More Markets

See all Markets

Nia Warfield28m

Caterpillar soars on Q3 earnings beat and better-than-expected outlook

Caterpillar jumped Wednesday morning after the construction equipment giant delivered strong third-quarter results and an upbeat full-year outlook.

Adjusted earnings per share reached $4.95, topping Wall Street’s estimate of $4.53. Meanwhile, revenue rose 10% to a record $17.6 billion, coming in well ahead of expectations around $16.8 billion.

Caterpillar’s Energy & Transportation unit was a standout, with sales up 17% as demand for power generation equipment used in data centers helped push the company’s backlog to a record $39.8 billion.

On the call, management said the results position Caterpillar “for sustained momentum and long-term profitable growth,” citing stronger demand tied to cloud computing and AI-driven infrastructure. Caterpillar now expects “modestly higher” sales for the full year, including a strong fourth quarter, after analysts had previously forecast a decline.

The stock is now up more than 63% year to date.

Luke Kawa1h

Applied Digital has “more near-term catalysts than the market expects,” says Needham

Applied Digital is up in early trading as Needham & Co. analyst John Todaro bangs the table on the Nvidia-backed data center upstart’s ability to secure energy to expand its operations.

In a note to clients, the analyst reiterated his “buy” rating while “calling attention to the possibility of more near-term catalysts than the market expects.”

The company recently announced a $5 billion, 15-year AI factory lease from a “US based investment grade hyperscaler” at its Polaris Forge 2 campus, which came on the heels of comments from its earnings call earlier this month about negotiations with two additional hyperscalers for two new locations.

The AI boom is resource-constrained in a variety of ways, including power. But after a recent conversation with Applied Digital’s management, Todaro thinks “there is a real pathway to source more power than previously thought,” writing, “APLD has received numerous calls from operators over the last few weeks offering stranded power; APLD is fairly confident it can continuously source power over the next five years.”

The Trump administration is reportedly pushing for a speedier approval process for data centers to connect to the power grid.

Todaro thinks the company’s goal of net operating income of $1 billion over the next five years “could prove conservative given the ongoing demand and ability to source available power.”

Wall Street is universally bullish on Applied Digital, with all 10 analysts who cover the stock having a “buy” (or equivalent) rating.

Max Knoblauch2h

Uber, Lucid climb after setting San Francisco as the first market for joint robotaxi fleet

San Franciscans’ robotaxi options are about to expand again.

Shares of Uber and Lucid are rising in premarket trading Wednesday after the companies set the Bay Area as the first market for their planned robotaxi fleet.

The vehicles will hit SF roads next year, putting Uber in direct competition with Waymo, which is operational in the region. Tesla is testing robotaxis in the area, and Amazon’s Zoox began offering rides there earlier this month. Uber also works with Waymo in select cities, including Austin and Atlanta.

Yesterday, Uber announced a partnership with Nvidia, setting a goal to have a fleet of 100,000 Nvidia-powered autonomous vehicles. Uber will begin scaling its fleet in 2027. The announcement widens the already robust web of auto and tech partnerships that make up the US robotaxi market.

Last month, Lucid delivered its first Uber-bound vehicle to Nuro, the tech partner in the robotaxi fleet partnership. The agreement will see at least 20,000 Lucid vehicles turned into robotaxis over the next six years.

Uber shares were up about 2% in premarket trading on the news, while Lucid shares climbed more than 6%.

Uber to Take on Waymo in San Francisco With Lucid, Nuro Robotaxis

Uber shares were up about 2% in premarket trading on the news, while Lucid shares climbed more than 6%.

Claire Yubin Oh2h

Teradyne soars on strong results and outlook, company sees Q4 adjusted EPS guidance of $1.20 to $1.46

Teradyne is up more than 15% in premarket trading on Wednesday after the semiconductor manufacturing company reported better-than-expected Q3 results and bumped its outlook for the rest of the year.

Revenue for the latest quarter came in at $769 million, surpassing analysts’ expectations for $745 million (estimates compiled by Bloomberg), driven by strong sales from its Semiconductor Test division.

“Growth was driven primarily by System-on-a-Chip (SOC) solutions for artificial intelligence applications and strong performance in memory. As we look ahead to Q4, AI-related test demand remains robust across compute, networking and memory segments,” CEO Greg Smith said in the press release.

The company now expects adjusted earnings per share in the fourth quarter to fall between $1.20 and $1.46, way ahead of analyst estimates for $1.05, driven by strong AI-related test demand. Revenue is expected to come in between $920 million and $1 billion.

The outlook “implies the highest revenue on a quarterly basis for the company since 2Q21,” per JPMorgan analysis cited by Bloomberg, which added that the “key focus of investors would be the sustainability of the high levels of demand implied in the 4Q25 guide.”

The company also named Michelle Turner as its new CFO on Tuesday, effective November 3, as its current CFO, Sanjay Mehta, prepares for retirement.

Boeing turns cash flow positive for the first time since its door plug blowout

But its loss widened due to a steep charge related to a 777X certification delay.

Max Knoblauch3h

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.