Biggest S&P 500 Movers on Friday

Advancers

• Netflix (NFLX) shares scored the S&P 500's top daily performance, soaring 11.1% to an all-time high following the video-streaming giant's better-than-expected 澳洲幸运5官方开奖结果体彩网:third-quarter financial results. Although the pace of subscriber additions slowed from the preceding quarters, 14% growth in total active subscribers was enough to edge out estimates.
• Shares of Lamb Weston Holdings (LW) surged 10.2% after a securities filing confirmed reports that 澳洲幸运5官方开奖结果体彩网:activist investor Jana Partners has acquired a stake of around 5% in the food processing company. Jana reportedly intends to encourage the maker of frozen french fries to consider the possibility of a sale as well as push for changes to its operations and 澳洲幸运5官方开奖结果体彩网:capital allocation strategy. 
• An upbeat earnings report also helped lift shares of Intuitive Surgical (ISRG), which jumped 10% after the provider of robotic-assisted systems for minimally invasive medical procedures topped quarterly sales and profit estimates. The company disclosed an 18% uptick in the number of procedures performed using its da Vinci surgical system.

Decliners

• Agricultural stocks moved lower after Raymond James downgraded Canada-based grain processor Ag Growth International (AGGZF) to "market perform." Analysts said soft crop prices and weak sentiment among farmers amounted to significant headwinds for the global agricultural industry. Shares of fellow grain handler Bunge Global (BG) dropped 6.3%, the steepest decline in the S&P 500 Friday, while peer Archer-Daniels-Midland (ADM) slid 3.8%. Ag Growth International's American depositary receipts (ADRs) were down 10.7%.
• CVS Health (CVS) shares tumbled 5.2% following the announcement that the pharmacy giant is 澳꧑洲幸运5⛦官方开奖结果体彩网:replacing its chief executive officer (CEO). Company veteran David Joyner, most recently in charge of the firm's pharmacy benefit manager (PBM), Caremark, is stepping into the top role, effective immediately. CVS also issued a lower-than-expected outlook for its third-quarter profit. The company is set to release its next quarterly results before the opening bell on Nov. 6.
• SLB (SLB), the world's largest oilfield services company, reported mixed third-quarter results, topping profit expectations but falling short of revenue forecasts. The company, formerly known as Schlumberger, cautioned that depressed spending by oil producers in the context of a weak 澳洲幸运5官方开奖结果体彩网:oil price environment could restrain its fourth-quarter revenue growth. SLB shares lost 4.7% on Friday.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

SLB Results Weigh on the Energy Sector

SLB (SLB) shares slumped Friday as a lower trend in oil and gas prices hurt quarterly results for the big oilfield services provid𒉰er.

SLB reported third-quarter revenue rose 10% year-over-year to $9.16 billion, about $100 million short of consensus 澳洲幸运5官方开奖结果体彩网:estimates by analysts surveyed by Visible Alpha. 澳洲幸运5官方开奖结果体彩网:Earnings per share (EPS) of 83 cents came in 4 cents below forecasts.

North American revenue rose 3% to $1.69 billion, held back by "lower drilling activity in U.S. land as the market remained constrained by gas prices and ongoing capital discipline by operators," 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Olivier Le Peuch said in remarks after the earnings were posted.

Le Peuch said that "commodity prices have been under pressure" over the past few months. He blamed that on "uncertainty around OPEC+ supply releases, weaker demand from China, and softer 澳洲幸运5官方开奖结果体彩网:economic growth rates in the U.S. and Europe." Le Peuch said those factors "res🔯ulted in a cautionary approach to activity and discretionary spend by many customers" that wer🧸e borne out in the earnings report.

✨Shares of SLB skidded about 4% Friday afternoon. They are down 19% year-to-date. 

-澳洲幸运5官方开奖结果体彩网:Bill McColl

What Analysts Are🔴 Saying a😼s Netflix Hits Record High After Earnings

Netflix (NFLX) shares surged to a record high Friday, a day after the streaming giant’s 澳洲幸运5官方开奖结果体彩网:third-quarter earnings beat expectati𝄹ons, with several analysts raising their price targets for the stock.

Bank of America boosted its price target to $800 from $740, calling Netflix “one of the best positioned companies within media,” with multiple growth drivers including its “burgeoning ad business.” Netflix’s ad-supported membership grew 35% quarter-over-quarter, and the company said it expects to launch an ad tech platform in 2025.

Analysts at JPMorgan lifted their price target even higher, to $850 from $750, and called Netflix a "top pick," citing its "strong leadership position" with a “virtuous circle of strong subscriber growth, more revenue, and growing profit.”

Including Bank of America, about three-quarters of the 20 analysts covering Netflix tracked by Visible Alpha held a "buy" or equivalent rating for the stock as of Friday, though their average price target at $774.58 was not far off from Friday's intraday price.

Shares of Netflix were up🃏 more than 10% to $759 in after🀅noon trading Friday and have gained more than 55% since the start of the year.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Intel Stock Rises on Report That It Might Sell a Sta🐈ke in Its Alteraಌ Business

Intel (INTC) shares rose F🐼riday, lifted by indications that it is looking for a big outside investment in its Altera programmable 🧜chipmaking unit.

CNBC late Thursday reported that the company is looking to sell a minority stake in Altera that values the business about $17 billion. Intel purchased Altera in 2015 for $16.7 billion, launching it as a standalone company in February, with the 澳洲幸运5官方开奖结果体彩网:intention of 澳洲幸运5官方开奖结果体彩网:spinning it off in an 澳洲幸运5官方开奖结果体彩网:initial public offering (IPO).

CNBC noted that the company has reached out to several 澳洲幸运5官方开奖结果体彩网:private equity and strategic investors this week about Altera. It added that Intel even discussed the possibil🤪ity those investors could tak💯e a majority stake in the business. 

Intel has been taking steps to try to shore up its finances, including 澳洲幸运5官方开奖结果体彩网:exploring sales of some of its various divisions, although none has come to fruition. The stock, recently up 🧜about 1%, has lost more than half of its value this year.

Intel declined to comment when contacted by Investopedia.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Strong Surgical Robot Sales Send Intuitive Surgical Stock to Record🌊 High

Shares of Intuitive Surgical (ISRG) hit an all-time high Friday, a day after the medical device 🦄maker posted better-than-expected results on more use of its da Vinci minimally invasive surgical devices.

The company reported third-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.84, with revenue advancing 17% year-over-year to $2.04 billion. Both exceeded consensus e🔴stimates of analysts polled by Visible Alpha.

The number of da Vinci procedures worldwide increased 18%, helping to drive instruments and accessories sales to $1.26 billion. Intuitive Surꦇgical installed 379 da Vinci units in the quarter, 67 more than the same period a year ago, wi𒈔th 110 of those its new da Vinci 5.

Intuitive Surgical shares surged more than 8% to $515🅷 after touching a record $517.61 soon after⛎ markets opened Friday. They are up more than 50% year-to-date.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

�𝄹�Apple Shares Rise on Reports of Improved Chinese iPhone Sales

Apple (AAPL) stock was trading near a record high on Friday amid reports that the iPhone 16 has outsold its predecessor in China by 20% in the three weeks 澳洲幸运5官方开奖结果体彩网:since its release.

What's more, sales of the more expensive Pro and Pro Max models are up 44% this cycle, per Counterpoint Research data cited by Bloomberg.

The improved performance in China is due in part to production issues that plagued the iPhone 15 rollout a year ago and likely impacted early sales, Counterpoint analyst Ivan Lam noted, according to the report. Additionally, the iPhone 15 faced competition from Chinese rival Huawei's Mate 60 device.

There had been some concern among analysts that the iPhone 16, which Apple has heralded as the first built around Apple Intelligence, would struggle in China due to the lack of a partner in the country to power its 澳洲幸运5官方开奖结果体彩网:artificial intelligence features, Bloomberg reported. Now, Wedbush analysts believe Apple could sell more than 240 million iPhones in fiscal 2025, with 100 million Chinese iPhones in the window of an upgrade next year.

Apple shares were up more than 1% at $235 around midday Friday, just shy of their all-time high reached Tuesday when the company 澳洲幸运5官方开奖结果体彩网:unveiled its new iPad mini.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

CVS Stocꦰk Plummets Amid CEO Shake-up, Grim Outlook

CVS Health (CVS) stock tumbled about 8% Friday morning after the pharmacy and healthcare giant announced the replacement of 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Karen Lynch with David Joyner, a longtime company veteran who most recently ran Caremark, its 澳洲幸运5官方开奖结果体彩网:pharmacy benefit manager (PBM).

Joyner is taking the top job effective immediately, CVS said, as the company has weathered a difficult year of sales at its namesake pharmacies and problems with its 澳洲幸运5官方开奖结果体彩网:bets on Medicare coverage that have led it to lower 澳洲幸运5官方开奖结果体彩网:its full-year outlook 澳洲幸运5官方开奖结果体彩网:several times already.

In addition to the CEO swap, CVS also provided preliminary guidance for third-quarter profit, projecting 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) between 3 cents and 8 cents, and adjusted 𝔍;EPS of $1.05 to $1.10. Analysts💎 are expecting EPS of $1.27, and adjusted EPS of $1.69, according to consensus estimates compiled by Visible Alpha.

With Friday's losses, CVS shares have shed about 26% of their value since the start of the year.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Netflix Stock Surges to All-Time High on Str🧸ong Earnings, Outlooꦺk

Netflix (NFLX) reported third-quarter results that topped analysts' estꦅimates on the top and bottom lines, sending its shares soaring to a record high o🥀n Friday morning.

The streaming giant posted third-quarter revenue of $9.83 billion, up 15% from a year ago and above the analyst consensus from Visible Alpha. Net income came in at $2.36 billion or $5.40 per share, compared to $1.68 billion or $3.73 per share a year earlier, also beating projeꦚctions. Total active subscribers climbed 14% to 282.72 million, just above Street expectations though the pace꧑ of growth slowed from the prior two quarters.

The company said it expects full-year revenue to grow 15% year-over-year, at the hig✤her end of its previously announced range.

Shares of Netflix, which were up over 41% for the year through Thursday's close, rose more than 9% in early trading Friday.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Stock Fu𓆉tures Mꦜixed as Dow Retreats From Record High

Futures contracts connected to the Dow Jones Industrial Average were off about 0.2% iꦐn premarket trading on Friday.

S&P 500 futures were up 0.2%.

Nasdaq 100 futures got a boost from surging Netflix stock, rising about🔴 0.6% Friday morning.