Stock Movers: Dell, Urban Outfitters Gain on Earnings; Deere Lower

Market Close Overview

• 📊 The S&P 500 finished with a gain, though more names were higher earlier in the session, with 360 names in the index advancing by the close.
• 📈 Information technology led sector performance, followed by financials, consumer discretionary, and consumer staples.
• 📉 Healthcare and communication services were among the sectors that declined, with Alphabet giving back some recent gains.

Individual Stock Movers: Gainers

• 💡 Dell Technologies was a top gainer, up 5.8%, after reporting earnings and raising its full-year forecast, highlighting growth in AI server shipments.
• 💰 Dell booked $12.3 billion in AI server orders in Q3, shipped $5.6 billion, and ended the quarter with an $18.4 billion backlog, raising annual shipment projections to $25 billion from $20 billion.
• 🛍️ Urban Outfitters surged over 13%, with its Q3 net sales beating analyst estimates, following positive reports from peers like Abercrombie and Gap.
• 🚀 Robin Hood Markets was the number one gainer in the S&P 500, up about 11%, after announcing a majority stake acquisition in Ledger X, a US-based derivatives exchange.

Individual Stock Movers: Decliners

• 🚜 Deere & Company shares fell 5.7% following a weak annual forecast, attributed to difficulties in predicting a recovery in the US farm economy due to tariff uncertainties.
• 📉 Deere's forecast for 2026 net income missed Bloomberg estimates and would represent a drop from the previous year's reported earnings.
• ☁️ Zscaler dropped 13%, its largest decline since September 2024, after forecasting annual revenue that was only slightly above estimates.

Market Trends and Yields

• 📉 Yields on the longer end of the curve, including the 20 and 30-year, moved lower, while the 10-year yield settled just below 4%.
• 📈 There was a slight uptick in the 2-year yield, despite traders anticipating a 90% chance of a rate cut at the Fed's December meeting.