Bank of America experienced a 4% drop in its stock price after reporting a 17% decline in third-quarter profit, attributed to a $1.2 billion penalty from the U.S. Treasury for money-laundering violations. The profit fell to 91 cents per share, significantly lower than the expected 1.08 per share without the penalty.
In contrast, BlackRock's shares rose 3% following an earnings report that exceeded expectations, with adjusted earnings at $15.93 per share compared to the $14.13 forecasted by analysts. The company's assets under management also increased to $15.49 trillion from $13.46 trillion year-over-year.
ASML's U.S.-listed shares fell 1% after reporting net sales of 11.66 billion euros, slightly below the 11.72 billion euros expected, although net profit surpassed expectations. GameStop's shares gained 2% after CEO Ryan Cohen disclosed the purchase of 844,000 shares. Albemarle's stock jumped 3% following an upgrade from Mizuho, which cited strong lithium demand.
Conversely, shares of Dell Technologies and Hewlett Packard Enterprise fell over 2.5% and nearly 4%, respectively, after Barclays downgraded both stocks, expressing skepticism about the sustainability of their recent rallies. Morgan Stanley's shares rose slightly by 0.4% after reporting earnings and revenue that beat expectations, although its investment banking revenues fell short