Midday Fly By: Intel, Ford report Q3 beats

The major averages were broadly higher near noon, adding to yesterday’s sharp gains as a strong print from Intel helped boost semiconductor names and the broader market. Meanwhile, cooler CPI data has raised investor optimism that the Federal Reserve will continue to cut rates, with JPMorgan saying the firm expects the Fed to provide “insurance” rate cuts to support weakening labor demand.

Looking to commodities, oil prices are climbing, adding to yesterday’s sharp increases. Gold prices, meanwhile, are edging lower, continuing this week’s massive decline following record highs.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Intel (INTC) reported better-than-expected Q3 results and provided its outlook for Q4
• Ford (F) reported upbeat Q3 earnings and revenue and said it will increase F-150 and F-Series Super Duty truck production
• Procter & Gamble (PG) reported better-than-expected Q1 results and reiterated its FY26 outlook
• General Dynamics (GD) provided a “beat and raise” report for Q3
• Eli Lilly (LLY) agreed to acquire Adverum Biotechnologies (ADVM) for up to $12.47 per share

2. WALL STREET CALLS:

• JPMorgan upgraded Coinbase (COIN) to Overweight
• Citizens JMP upgraded eBay (EBAY) to Outperform
• Morgan Stanley upgraded Tractor Supply (TSCO) to Equal Weight
• Barclays downgraded Molina Healthcare (MOH) to Underweight
• Jefferies downgraded Inspire Medical (INSP) to Hold

3. AROUND THE WEB:

• Blackstone (BX) is among a group of private equity companies exploring potential offers for Optum’s UK operation, Sky News reports
• Mondelez (MDLZ) is using a new AI tool to slash costs for producing marketing content by 30%-50%, Reuters says
• According to early findings, the European Commission believes Meta Platforms (META) and ByteDance’s TikTok have breached the European Union’s rules on illegal content, Bloomberg reports
• Walmart (WMT) has implemented a new raise strategy for hourly store workers that accounts for factors like attendance, teamwork and store performance, Business Insider says
• JPMorgan Chase (JPM) intends to allow institutional clients to use their holdings of Bitcoin and Ether as collateral for loans by the end of the year, Bloomberg says

4. MOVERS:

• Inhibrx (INBX) increases after reporting topline results from its registrational trial of ozekibart
• Grindr (GRND) gains after receiving a “preliminary and non-binding proposal” to purchase all outstanding shares for $18 per share
• Community Health (CYH) higher after reporting Q3 results and providing guidance for FY25
• MaxLinear (MXL) lower after reporting Q3 results and providing guidance for Q4
• Coursera (COUR) and Gentex (GNTX) fall after reporting quarterly results

5. EARNINGS/GUIDANCE:

• Deckers Outdoors (DECK) reported Q2 results and provided guidance for FY26
• Boston Beer (SAM) reported Q3 results and raised its guidance for FY25
• Booz Allen (BAH) reported Q2 results, with EPS and revenue missing consensus
• Illinois Tool Works (ITW) reported Q3 results, with EPS and revenue missing consensus
• HCA Healthcare (HCA) reported Q3 results, with CEO Sam Hazen commenting, “Our teams continued to execute our agenda at a high level”

INDEXES:

Near midday, the Dow was up 1.21%, or 565.64, to 47,300.25, the Nasdaq was up 1.25%, or 286.99, to 23,228.79, and the S&P 500 was up 0.97%, or 65.52, to 6,803.96.