A UPS worker pushes a cart in New York, US, on Monday, Oct. 27, 2025.Michael Nagle | Bloomberg | Getty ImagesUnited Parcel Service on Tuesday reported earnings that topped Wall Street’s estimates ahead of its busy holiday season and revealed deeper job cuts as part of its sweeping turnaround plan. The company said Tuesday it’s cut its operational workforce by 34,000 jobs this year, greater than its previous estimate of 20,000 reductions. The company also cut 14,000 jobs from its management workforce.UPS told CNBC in a statement those cuts have already taken place.Shares of the package delivery giant surged 11%…
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(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in cyclical stocks and at the outlook on gold after a pullback from all-time highs. ‘Worldwide Exchange’ Pick: consumer discretionary sector Joseph Quinlan of Bank of America sees big upside for the consumer discretionary sector. “The U.S. consumer continues to power ahead. There is going to be very good holiday spending and already we are talking to clients who are booking vacations and all the plans for next…
Nikesh Arora, CEO of Palo Alto Networks, looks on during the closing bell at the Nasdaq Market in New York City on March 25, 2025.Jeenah Moon | ReutersPalo Alto Networks on Tuesday launched new artificial intelligence agents that allow customers to automate certain cybersecurity actions.The new agents, known as Cortex AgentiX, can handle threat intelligence investigations, respond to email breaches and can be deployed across various security vendor platforms. The tools will be available starting Tuesday through several of Palo Alto’s current cloud services, and will launch as a separate platform next year.The new AI agents are meant to meet…
Apple CEO Tim Cook, left, and Microsoft CEO Satya Nadella.ReutersApple and Microsoft shares rose on Tuesday, pushing the companies over a market cap of $4 trillion.Both companies are still behind Nvidia, which is the world’s most valuable company with a market cap of over $4.6 trillion. Microsoft previously hit the $4 trillion benchmark in July.Microsoft stock climbed about 3% on news that the company finalized a 27% in OpenAI’s for-profit business. The company has backed the ChatGPT maker since 2019.The milestone comes as Apple shares have been surging in recent weeks because iPhone 17 models, released in September, appear to…
OpenAI CEO Sam Altman speaks to media following a Q&A at the OpenAI data center in Abilene, Texas, U.S., Sept. 23, 2025. Shelby Tauber | ReutersOpenAI on Tuesday announced it has completed its recapitalization, and its nonprofit will own an equity stake in its for-profit arm that is currently valued at about $130 billion.This is breaking news. Please refresh for updates. Source link
Check out the companies making headlines before the bell Skyworks Solutions — The maker of high-performance analog and mixed-signal semiconductors climbed 19% after an all stock-and-cash deal to buy its rival Qorvo , which surged 17%. The combined company will be valued at some $22 billion. Qorvo shareholders will receive $32.50 in cash and 0.960 of a Skyworks common share for each Qorvo share held, with Skyworks shareholders controlling about 63% of the new company and Qorvo holders the rest. PayPal Holdings — The payment provider surged 12% after third-quarter earnings per share of $1.34 topped the Wall Street consensus…
Online home goods company Wayfair reported a jump in third-quarter revenue on Tuesday, as it beat Wall Street estimates on the top and bottom lines.The company said total net revenue increased 8.1% year-over-year.Here’s how the company performed in its third quarter, compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 70 cents adjusted vs. 43 cents expectedRevenue: $3.12 billion vs. $3.02 billion expectedWayfair shares climbed 10% in premarket trading.For the period ended Sept. 30, Wayfair reported a net loss of $99 million, or 76 cents per share, compared to a loss of $74 million,…
Here are Tuesday’s biggest calls on Wall Street: Wells Fargo initiates Vistra Energy as overweight Wells said the utility and energy company is well positioned. “We are initiating coverage of VST with an Overweight rating, as it fits within the absolute call on IPPs [independent power producer]—similar story to our Best Idea CEG, but with slightly longer dated catalyst path.” Deutsche Bank reiterates Reddit as buy Deutsche said it’s bullish on the stock ahead of earnings on Thursday. “While Google-related referral traffic concerns remain, internal initiatives appear to be a focus, potentially giving Reddit more control of user growth including…
Shortly after the opening bell, we will be buying 220 shares of Corning at roughly $83. Following the trade, Jim Cramer’s Charitable Trust will own 440 shares of GLW, increasing its weighting to about 1% from 0.5%. Corning shares are down more than 7% in premarket trading after the specialty glass maker reported its third-quarter earnings. The results were generally better than expected, with core sales growing 14% year over year to $4.27 billion, edging the consensus forecast of $4.22 billion, and core adjusted earnings per share of $0.67, beating the consensus forecast by one penny. The company’s guidance for…
Amazon logo on brick office building facade with windows, San Francisco, California, Aug. 29, 2025.Smith Collection | Gado | Archive Photos | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Amazon’s cullAmazon is laying off 14,000 workers in its latest round of corporate cuts, the company announced this morning. The layoffs are expected to be the biggest reduction in the company’s history, CNBC’s Annie Palmer reported yesterday. Nearly every business is expected to be impacted by the cuts, according to a…
