GlobalFoundries (GFS) is on the verge of breaking out of its downtrend. GFS stock gained 14.88% on Tuesday after posting third-quarter results. The firm earned $0.41 a share as revenue fell by 5.9% Y/Y to $1.74 billion.
GF is bucking the trend of customers exhibiting weakness in the second half of the year. Smart mobile devices are offsetting the weak automotive market.
Cummins (CMI) is on a breakout. Up by 8.86% on Tuesday, it should rise further. The firm reported an EPS of $5.86 in Q3. Its CEO is a visionary who is growing the Cummins business.
Among the movers to the downside is Celanese (CE). The firm slashed its dividend by 95% after reporting a disappointing Q3 report. CEO Lori Ryerkerk said, "We expect demand conditions to worsen in the fourth quarter, as automotive and industrial segments react to recent dynamics by seasonally destocking at heavier than normal levels.”
Wynn Resorts (WYNN) peaked at over $110 only to break down. WYNN stock lost 9.3% after posting weak revenue results in Q3. Macau dragged results lower.
AstraZeneca (AZN) may fall further day. Its China business is at the center of a fraud case. This may involve dozens of its senior executives.
