• Market recap: Although the Nasdaq surged over 1% yesterday, futures for all 3 main indices tumbled this morning amid mega-cap slumps and higher oil prices. Specifically, Lam Research (LRCX) fell 7% premarket, with IBM (IBM) down 5%. Sources: CNBC / CNBC / Barron's.
• Meta slumps despite beat: Meta (META) reported Q3 revenue of $64.6B, up 26% YoY and above estimates. A $9.89B legal charge weighed on profits, while the company also announced a 2-for-1 stock split. Shares fell 1.7% premarket. Source: StockAnalysis.com.
• Other Meta updates: A judge ordered Meta (META) to pay a record $25B fine for misleading users about data privacy for over a decade. Separately, after CEO Mark Zuckerberg threatened to leave California over a potential wealth tax, the company granted him non-voting shares to cover the tax without reducing his voting control. In exchange, he will stay in CA for 8 years. Sources: BBC / Bloomberg.
• Tesla's profit falters amid AI spending: Tesla's (TSLA) Q3 net profit fell 44% to $787M, missing estimates of $815M, while revenue remained flat at $28B. Heavy investment in autonomous vehicles and robotics pressured earnings, with shares tumbling 5.4% premarket. Source: NY Times.
• Barclays slashes jobs: Barclays (BCS) plans to eliminate 5% of its workforce — around 5K positions — as AI-driven automation supports cost reductions. Q3 fixed-income trading revenue fell 19%, missing estimates. Source: Bloomberg.
• Mattel adds director amid takeover pressure: Mattel (MAT) appointed a new director to its board as activist investors push for a sale or restructuring. Shares fell 1.5% premarket. Source: WSJ.
• Utah vs. Kalshi: Utah sued prediction market Kalshi, claiming that the company essentially operates illegal gambling. The lawsuit seeks to halt its operations and recover up to $61.2M in fees. Source: KSL.
• China enters bear market: China's CSI 300 index has declined 20% from its June high following 10 straight weekly drops. Weak corporate profits, intense competition, sluggish consumer demand, and property-sector troubles are weighing on investor confidence. Source: CNBC.

• American Airlines: American (AAL) expects a Q4 adjusted EPS loss of $0.50–1.10 and a full-year loss of $1–1.60 as surging fuel costs offset strong demand. Q3 revenue rose 19% to $16.34B, beating estimates, but shares fell 4% premarket. Source: WSJ.
• Southwest: Southwest (LUV) lowered its 2026 adjusted EPS forecast to $2.60–$2.85 as rising fuel costs squeezed margins. Q3 adjusted EPS of $0.66 and revenue of $8.42B beat estimates, but shares fell 1% premarket. Source: CNBC.
• Comcast: Comcast (CMCSA) lost 144K residential broadband customers in Q3, exceeding forecasts of 131K, while revenue fell 6.1% to $29.3B. Adjusted EPS beat estimates at $1.07, supported by Peacock's 34% revenue growth, with shares up 3% premarket. Source: WSJ.
• Procter & Gamble: P&G (PG) reported quarterly revenue of $23.3B and adjusted EPS of $2.00, both exceeding expectations. Sales rose 4%, driven by stronger demand for laundry and home care products. Shares gained 3% premarket. Source: CNBC.

• Pending home sales hit record low: Pending home sales plunged 7.3% in September to an index reading of 66, the lowest since records began in 2001 and worse than all forecasts. High mortgage rates continue to weigh on demand. Source: Bloomberg.
• Housing starts fall unexpectedly: Housing starts dropped 5.2% in September to an annualized 1.221M units, missing forecasts of 1.3M and falling 7.4% YoY. The forecast was for a 2% rise. Source: WSJ.
• Jobless claims: Seasonally adjusted initial jobless claims totaled 194,000 for the week ending Oct. 17, down 6,000 WoW. The 4-week moving average was 197,750, down 1,000 WoW. Source: Dept. of Labor.

• White House withdraws diplomats amid Saudi attacks: The U.S. ordered nonessential diplomats and families to leave Saudi Arabia following deadly Houthi strikes on airports and oil infrastructure. An attack on an international airport killed at least 2. Sources: Reuters / NY Times.
• Multiple tankers damaged in Hormuz: Iran claims that 7 oil tankers were struck or hit naval mines overnight in what is potentially the largest single-day incident since the war began. The incidents heighten risks to global oil supplies and shipping. Source: AP.
• Critical global website vulnerability discovered: Researchers used AI to uncover a severe flaw in software powering up to 70% of websites. The vulnerability could let hackers seize control of unpatched servers, prompting an urgent global effort to deploy security fixes. Source: WSJ.
• SCOTUS temporarily blocks Trump's trans prison care ban: The Supreme Court rejected the Trump administration's emergency request to halt gender-affirming treatment for transgender federal inmates. A wider ruling is expected next year. Source: NPR.
• Americans face Israeli violence: A photojournalist working for the Washington Post, which is owned by Jeff Bezos, was hospitalized with serious injuries after Israeli settlers attacked her in the West Bank. House candidate Brad Lander was also detained in the West Bank. Sources: CNN / Politico.

• 8:30 AM: Initial Jobless Claims

Meta Platforms (META) has released its quarterly earnings.

• Revenue of $64.60B (+26.07% YoY) beats by $1.23B.
• EPS of $7.40 (+2.07% YoY) beats by $1.66.
• Financials · As Reported · Metrics · Press Release

Tesla (TSLA) has released its quarterly earnings.

• Revenue of $28.05B (-0.17% YoY) beats by $1.13M.
• EPS of $0.48 (-4.00% YoY) beats by $0.08.
• Financials · As Reported · Metrics · Press Release

Lam Research (LRCX) has released its quarterly earnings.

• Revenue of $8.22B (+54.38% YoY) beats by $81.05M.
• EPS of $2.20 (+74.60% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

SAP SE (SAP) has released its quarterly earnings.

• Revenue of $11.82B (+12.07% YoY) beats by $330M.
• EPS of $2.18 (+17.84% YoY) beats by $0.15.
• Financials · As Reported · Metrics · Press Release

Texas Instruments (TXN) has released its quarterly earnings.

• Revenue of $6.06B (+27.69% YoY) beats by $126.73M.
• EPS of $2.62 (+77.03% YoY) beats by $0.20.
• Financials · As Reported · Metrics · Press Release

International Business Machines (IBM) has released its quarterly earnings.

• Revenue of $17.10B (+4.73% YoY) beats by $254.63M.
• EPS of $2.95 (+11.32% YoY) beats by $0.08.
• Financials · As Reported · Metrics · Press Release

CSX Corporation (CSX) has released its quarterly earnings.

• Revenue of $4.02B (+12.07% YoY) beats by $58.75M.
• EPS of $0.57 (+29.55% YoY) beats by $0.04.
• Financials · As Reported · Metrics · Press Release

Kinder Morgan (KMI) has released its quarterly earnings.

• Revenue of $4.53B (+9.29% YoY) beats by $146.26M.
• EPS of $0.35 (+20.69% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

Procter & Gamble (PG) has released its quarterly earnings.

• Revenue of $23.28B (+3.98% YoY) beats by $477.22M.
• EPS of $2.00 (+0.50% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

Union Pacific (UNP) has released its quarterly earnings.

• Revenue of $7.20B (+15.26% YoY) beats by $66.63M.
• EPS of $3.53 (+14.61% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

Blackstone (BX) has released its quarterly earnings.

• Revenue of $3.22B (-2.57% YoY) misses by $15.48M.
• EPS of $1.32 (-13.16% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

Lockheed Martin (LMT) has released its quarterly earnings.

• Revenue of $20.71B (+11.30% YoY) beats by $254.69M.
• EPS of $7.97 (+14.68% YoY) beats by $0.46.
• Financials · As Reported · Metrics · Press Release

Valero Energy (VLO) has released its quarterly earnings.

• Revenue of $46.10B (+43.30% YoY) beats by $4.94B.
• EPS of $23.90 (+553.01% YoY) beats by $2.70.
• Financials · As Reported · Metrics · Press Release

Spotify Technology (SPOT) has released its quarterly earnings.

• Revenue of $5.72B (+14.52% YoY) misses by $11M.
• EPS of $2.85 (-25.78% YoY) misses by $0.26.
• Financials · As Reported · Metrics · Press Release

Comcast (CMCSA) has released its quarterly earnings.

• Revenue of $29.30B (-6.09% YoY) beats by $61.57M.
• EPS of $1.07 (-4.46% YoY) beats by $0.09.
• Financials · As Reported · Metrics · Press Release

Barclays (BCS) has released its quarterly earnings.

• Revenue of $9.90B (+2.44% YoY) misses by $278M.
• EPS of $0.66 (+57.14% YoY) misses by $0.01.
• Financials · As Reported · Metrics · Press Release

Norfolk Southern (NSC) has released its quarterly earnings.

• Revenue of $3.53B (+13.74% YoY) beats by $50.69M.
• EPS of $3.62 (+9.70% YoY) beats by $0.15.
• Financials · As Reported · Metrics · Press Release

Honeywell International (HON) has released its quarterly earnings.

• Revenue of $4.99B (+1.32% YoY) misses by $16.17M.
• EPS of $2.27 (-59.75% YoY) beats by $0.10.
• Financials · As Reported · Metrics · Press Release

Nokia Oyj (NOK) has released its quarterly earnings.

• Revenue of $5.93B (+5.07% YoY) beats by $131M.
• EPS of $0.10 (+42.86% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

PG&E Corporation (PCG) has released its quarterly earnings.

• Revenue of $6.19B (-0.99% YoY) misses by $587.62M.
• EPS of $0.41 (-18.00% YoY) misses by $0.01.
• Financials · As Reported · Metrics · Press Release

Dow Inc. (DOW) has released its quarterly earnings.

• Revenue of $11.27B (+12.98% YoY) beats by $46.34M.
• EPS of $0.71 beats by $0.07.
• Financials · As Reported · Metrics · Press Release

Kinsale Capital Group (KNSL) will report today after close.

• Analysts estimate revenue of $477.49M (-4.02% YoY).
• EPS is estimated to be $5.08 (-2.50% YoY).
• Financials · As Reported · Metrics

Rexford Industrial Realty (REXR) will report today after close.

• Analysts estimate revenue of $233.33M (-5.44% YoY).
• EPS is estimated to be $0.60 (0.00% YoY).
• Financials · As Reported · Metrics

Booz Allen Hamilton Holding (BAH) will report tomorrow before market open.

• Analysts estimate revenue of $2.81B (-2.90% YoY).
• EPS is estimated to be $1.47 (-1.34% YoY).
• Financials · As Reported · Metrics

Eni S.p.A. (E) will report tomorrow before market open.

• Analysts estimate revenue of $22.74B (-3.73% YoY).
• EPS is estimated to be $1.92 (+102.11% YoY).
• Financials · As Reported · Metrics

Autoliv (ALV) will report tomorrow before market open.

• Analysts estimate revenue of $2.71B (+0.30% YoY).
• EPS is estimated to be $2.23 (-3.88% YoY).
• Financials · As Reported · Metrics

Cadence Design Systems (CDNS) will report Monday.

• Analysts estimate revenue of $1.61B (+16.06% YoY).
• EPS is estimated to be $1.96 (+1.55% YoY).
• Financials · As Reported · Metrics

HCA Healthcare (HCA) will report Tuesday.

• Analysts estimate revenue of $19.34B (+0.93% YoY).
• EPS is estimated to be $6.65 (-4.45% YoY).
• Financials · As Reported · Metrics

Freeport-McMoRan (FCX) will report Tuesday.

• Analysts estimate revenue of $7.34B (+5.24% YoY).
• EPS is estimated to be $0.81 (+62.00% YoY).
• Financials · As Reported · Metrics

Waste Management (WM) will report Tuesday.

• Analysts estimate revenue of $6.81B (+5.73% YoY).
• EPS is estimated to be $2.18 (+10.10% YoY).
• Financials · As Reported · Metrics

Robinhood (HOOD) will report Tuesday.

• Analysts estimate revenue of $1.43B (+12.07% YoY).
• EPS is estimated to be $0.55 (-9.84% YoY).
• Financials · As Reported · Metrics

Johnson Controls International (JCI) will report Tuesday.

• Analysts estimate revenue of $6.99B (+8.53% YoY).
• EPS is estimated to be $1.56 (+23.81% YoY).
• Financials · As Reported · Metrics

Microsoft (MSFT) will report Wednesday.

• Analysts estimate revenue of $90.70B (+16.77% YoY).
• EPS is estimated to be $4.71 (+14.04% YoY).
• Financials · As Reported · Metrics

Alphabet (GOOGL) will report Wednesday.

• Analysts estimate revenue of $124.61B (+21.75% YoY).
• EPS is estimated to be $2.99 (+4.18% YoY).
• Financials · As Reported · Metrics

Equinix (EQIX) will report Wednesday.

• Analysts estimate revenue of $2.56B (+10.72% YoY).
• EPS is estimated to be $9.28 (-5.60% YoY).
• Financials · As Reported · Metrics

Agnico Eagle Mines (AEM) will report Wednesday.

• Analysts estimate revenue of $3.49B (+14.16% YoY).
• EPS is estimated to be $2.56 (+18.52% YoY).
• Financials · As Reported · Metrics

• Estimated Friday, Oct. 23: Lyca Therapeutics, Inc. (LYCA), a pharma firm focused on autoimmune and inflammatory diseases, with $4.44M in TTM revenue and -54.9% revenue growth YoY.