Amazon Reports Strong Q3 Results, U.S. Stocks Rise

U.S. stocks experienced a significant uptick on Friday, with the Dow Jones index gaining around 450 points. Investors were particularly optimistic as shares of Amazon.com, Inc (NASDAQ: AMZN) surged during the trading session, following the company’s announcement of stronger-than-expected financial results for the third quarter.

For the third quarter, Amazon reported net sales of $158.9 billion, which represents an increase of 11% year-over-year. This figure surpassed the average forecast on Wall Street, which had anticipated sales of $157.2 billion, according to data from Benzinga Pro. Looking ahead, Amazon expects fourth-quarter net sales to range between $181.5 billion and $188.5 billion, reflecting a year-over-year increase of 7% to 11%.

The positive response from investors was evident, as Amazon.com shares jumped by 7.1% to reach $199.63 on Friday.

In addition to Amazon, several other major stocks also recorded impressive gains in today’s session:

• Proto Labs, Inc (PRLB) saw its shares rise by 31.8%, reaching $36.10 after reporting third-quarter financial results that exceeded expectations and providing an encouraging adjusted EPS guidance for the fourth quarter.
• Interface, Inc (TILE) experienced a 30% increase, closing at $22.72 after better-than-anticipated quarterly results and a raised fiscal year 2024 net sales outlook.
• Globalstar, Inc (GSAT) shares jumped 25.3% to $1.3145 following an amendment to its services agreement with Apple to enhance its MSS network with new satellites.
• ADMA Biologics, Inc. (ADMA) gained 19.7%, reaching $19.52.
• Waters Corporation (WAT) rose by 17.3% to $378.98, thanks to earnings and sales results that beat analyst forecasts.
• Avis Budget Group, Inc (CAR) enjoyed a 16.5% increase, closing at $96.73 after its third-quarter earnings report.
• Atlassian Corporation (TEAM) saw its stock climb by 15.8% to $218.37, following better-than-expected first-quarter results and positive second-quarter revenue guidance.
• Pediatrix Medical Group, Inc (MD) rose by 15.6% to $14.26 after reporting quarterly earnings that also surpassed expectations.
• ASP Isotopes Inc (ASPI) gained 14.2% to $7.98, announcing the pricing of a public stock offering.
• Select Medical Holdings Corporation (SEM) surged 13.2% to $36.32, benefiting from strong quarterly earnings.
• Charter Communications, Inc (CHTR) had a 12% increase, reaching $366.93 after reporting quarterly EPS and revenue that exceeded estimates.
• Liberty Broadband Corporation (LBRDA) rose by 11.5% to $89.49.
• Halozyme Therapeutics, Inc (HALO) gained 9.9% to $55.56, inspired by favorable quarterly results and optimistic fiscal year 2024 guidance.
• Mobileye Global Inc (MBLY) rose by 9.6%, closing at $14.92.
• MasTec, Inc (MTZ) surged by 8.2% to $133.01 after adjusting its fiscal year 2024 EPS guidance upward.
• Chart Industries, Inc. (GTLS) increased by 8.1% to $130.46 following a positive quarterly report.
• Dorman Products, Inc (DORM) gained 7.9% to $123.05 after reporting healthy earnings.
• Magna International Inc. (MGA) jumped 7.8% to $42.54 following its own third-quarter results.
• Cardinal Health, Inc (CAH) also enjoyed a 7.1% increase, reaching $116.21 after reporting first-quarter earnings that topped estimates and raising fiscal year 2025 EPS guidance.

The strong performance of these companies demonstrates a positive trend in the market, reflecting investor confidence and optimism for the upcoming financial quarters.

Amazon, Stocks, Market