AutoZone's shares fell over 5% after CEO Phil Daniele reported challenges in international sales during the latest quarter, despite domestic sales performing well. The company's third-quarter revenue reached $4.84 billion, slightly below the FactSet consensus estimate of $4.86 billion, although earnings per share of $38.07 surpassed expectations of $36.22.
In contrast, Eli Lilly's stock rose by 1% following its announcement of acquiring three companies—Curevo Inc., LimmaTech Biologics AG, and Vaccine Company—to enhance its infectious diseases portfolio. Ferrari's shares dropped 3% after the launch of its first fully electric vehicle, the Luce, in Rome.
Lear Corp. saw a 2% increase in its stock price after TD Cowen upgraded its rating from hold to buy, citing the company's strong positioning in North American auto production. Semiconductor stocks also rose, with Micron Technology gaining over 6% and Qualcomm and Advanced Micro Devices each increasing by more than 3%, driven by optimism regarding a potential resolution to the conflict in Iran.
Conversely, energy stocks like Exxon Mobil and Chevron fell by 1%. In the space sector, Intuitive Machines surged 10% and AST SpaceMobile rose 6%, supported by a $90 million contract awarded to Rocket Lab by the U.S. Space Force and positive fiscal guidance from Intuitive Machines