NEWS
Markets Lack Direction Ahead Of U.S. Election

Those hoping for fireworks to start the week were left disappointed, as many investors and traders stick to the sidelines until they get more “certainty.” Ahead of what’s likely to be a close election, the Fed’s rate decision, and hundreds of earnings reports, we’ll say they may be waiting a while for uncertainty to dissipate... 👀

Today's issue covers a roundup of retail’s favorite earnings, what various polls say ahead of Election Day, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 4 of 11 sectors closed green, with energy (+1.75%) leading and utilities (-1.19%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $MQ, $TNYA, $ADN, $ALAB, $BOWL 📉 $PACS, $LSCC, $NGNE, $PLTR, $NXPI*

*If you’re a business and want to access this data via our API, email us.

EARNINGS
A Roundup Of Retail’s Favorite Earnings 🤩 

Three wildly popular stocks on Stocktwits reported results today, so let’s review.

Constellation Energy had a nuclear meltdown this morning, with shares falling 13%. It reported better-than-expected earnings after signing a 20-year power contract with Microsoft to reactivate the Three Mile Island Unit 1 nuclear power plant. ☢️

So why is the stock down? A negative decision by the Federal Energy Regulatory Commission (FERC) rejected Talen Energy’s proposal to increase power capacity at its Susquehanna nuclear power plant. The regulatory pushback was a harsh reminder for investors in this heavily regulated, capital-intensive industry that progress is nonlinear.

Palantir Technologies soared to fresh all-time highs in after-hours trading following an earnings and revenue beat. Co-founder and CEO Alex Karp said, “We absolutely eviscerated this quarter, driven by unrelenting AI demand that won’t slow down.” 🧑‍💻 

Revenue grew 30% YoY this quarter, with momentum that management expects to continue. It bumped up its revenue range for fiscal 2024, implying a 26% growth rate for the year and 24% growth in its U.S. commercial revenue.

Hims & Hers Health rose 8% after beating third-quarter earnings estimates and raising its guidance. The health and wellness platform cited strong subscriber growth and improving profitability. Looking ahead, its fourth-quarter revenue guidance was well above analyst estimates. 💊 

Some investors are still seeking more clarity around the GLP-1 market, the FDA’s shortage list, and how it’ll impact the company’s future growth. But for now, management provided enough color to keep the fears at bay for another quarter.