Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Palantir's stock dropped 6.9% premarket Tuesday, despite strong Q3 results and raised full-year guidance, due to slower U.S. commercial bookings, according to analysts. The company's U.S. commercial revenue surpassed government revenue for the first time. (PLTR)

Reddit (RDDT) shares fell 29% after Q3 earnings beat expectations but Q4 guidance missed estimates. CEO Steve Huffman cited Google's AI search features as a factor in declining referral traffic, warning of potential double-digit declines in unique visitors. Other internet companies reliant on search traffic, including NYT, NWS, YELP, and EXPE, may also be affected.

Sandisk (SNDK) shares dropped 14% in a week after Kioxia, its fab partner, warned of fading flash price gains. Intel (INTC) also cited memory cost pressures. Despite record Q1 revenue of $11B and an 85% gross margin, Sandisk's stock fell. Wedbush maintained an Outperform rating and $2,000 target, citing below-average multiples.

U.S. stock futures were mixed as investors assessed tech earnings and anticipated midterm elections. Apple's shares dipped after reporting Q4 EPS of $2.10 and $114.5B in sales, but missed China sales forecasts and provided lower-than-expected margin guidance. Palantir's shares fell despite strong Q3 results due to slower growth in total contract value. Oil prices rose after a reported U.S. strike on Iran's Qeshm Island.

Dell shares fell 11% on Oct 30 after Intel warned memory shortages are slowing PC demand. Analyst Dan Niles noted Dell's inventory tripled year-over-year, suggesting chip supply is closer to demand than expected. Dell's inventory was $21.3B, with most being unassembled parts. Intel expects global PC shipments to fall 12% this year and 10% in 2027. Niles' analysis implies current chip pricing may not last as long as anticipated.

Intel's stock fell 29% to $65.76, its worst day since 1974, despite strong quarterly results. The decline was driven by weak PC sales forecasts and downgrades from financial institutions. Intel expects a 12% decline in PC shipments in 2026 and a 10% decline in 2027. The U.S. government, which holds 10% of Intel's shares, saw a $12 billion paper loss.