Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. The company also operates auction sites. The company was founded in 2012 and is based in Tempe, Arizona.

Carvana Co.

Below is Validea's guru fundamental report for CARVANA CO (CVNA). Of the 22 guru strategies we follow, CVNA rates highest using our Small-Cap Growth Investor model based on the published strategy of Motley Fool. This strategy looks for small cap growth stocks with solid fundamentals and strong price performance.
CARVANA CO (CVNA) is a mid-cap growth stock in the Retail (Specialty) industry. The rating using this strategy is 55% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of CARVANA CO
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

CVNA Quantitative Stock Analysis

Carvana Co. CVNA is slated to release third-quarter 2025 results on Oct. 29, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share (EPS) and revenues is pegged at $1.33 and $5.05 billion, respectively.
For the third quarter, the consensus estimate for Carvana’s earnings has moved up 3 cents in the past seven days. Its bottom-line estimates imply 107.8% growth from the year-ago reported numbers.
The Zacks Consensus Estimate for CVNA's quarterly revenues implies year-over-year growth of 38.2%. The company's earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 107.32%. This is depicted in the graph below:
Carvana Co. Price and EPS Surprise
Q2 Highlights
In the second quarter of 2025, CVNA’s adjusted EPS of $1.28 beat the Zacks Consensus Estimate of $1.10 and increased from the year-ago quarter’s earnings of 14 cents. The company reported net sales of $4.84 billion, which beat the Zacks Consensus Estimate of $4.59 billion. The top line also rose 42% year over year.
Things to Note
In the second quarter of 2025, Carvana’s retail unit sales continued to grow on strong demand. Carvana projected a sequential increase in retail unit sales in the third quarter of 2025. The expected increase in retail unit sales is likely to have boosted the company’s top-line growth in the quarter under review. For the third quarter of 2025, we projected retail unit sales of 145,112 vehicles, suggesting a growth of 33.6% year over year.
The acquisition of ADESA's U.S. operations has strengthened Carvana’s logistics network, auction capabilities and reconditioning infrastructure. The company is also expanding ADESA Clear, its digital auction platform, across more ADESA and Carvana locations. This integration combines ADESA’s wholesale expertise with Carvana’s technology to streamline the buying and selling experience. Collectively, these efforts are driving higher throughput, lower costs and improved profitability.
Carvana recorded adjusted EBITDA of $601 million in the second quarter, up 70% year over year, with industry-leading margins of 12.4%. It continues to focus on enhancing operational efficiency across the business to drive adjusted EBITDA. For the full year, it forecasts adjusted EBITDA in the band of $2-$2.2 billion compared with $1.38 billion recorded last year. The acquisition of ADESA's U.S. operations and expected increase in adjusted EBITDA for the full year 2025 are likely to have improved the company’s margin in the to-be-reported quarter.
Earnings Whispers
Our proven model predicts an earnings beat for Carvana for the quarter to be reported, as it has the right combination of the two key ingredients. A positive Earnings ESP, combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the odds of an earnings beat. This is the case here.
Earnings ESP: CVNA has an Earnings ESP of +6.55%. This is because the Most Accurate Estimate is pegged higher than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently carries a Zacks Rank #2.
Other Stocks With the Favorable Combination
Here are some other players from the auto space that, per our model, have the correct ingredients to post an earnings beat this time around.
Aptiv PLC APTV has an Earnings ESP of +4.83% and a Zacks Rank #2 at present. The company is set to release third-quarter 2025 results on Oct. 30. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for APTV’s to-be-reported quarter’s earnings and revenues is pegged at $1.81 per share and $5.06 billion, respectively. Aptiv beat earnings estimates in each of the trailing four quarters, the average surprise being 10.29%.
Lucid Group, Inc. LCID has an Earnings ESP of +0.72% and a Zacks Rank #3 at present. The company is set to release third-quarter 2025 results on Nov. 5.
The Zacks Consensus Estimate for LCID’s to-be-reported quarter’s loss per share and revenues is pegged at $2.32 per share and $325.6 million, respectively. Lucid beat earnings estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 11.09%.
American Axle & Manufacturing Holdings, Inc. AXL has an Earnings ESP of +5.00% and a Zacks Rank #3 at present. The company is scheduled to release third-quarter 2025 results on Nov. 7.
The Zacks Consensus Estimate for AXL’s to-be-reported quarter’s earnings per share and revenues is pegged at 13 cents per share and $1.50 billion, respectively. American Axle beat earnings estimates in each of the trailing four quarters, the average negative surprise being 584.14%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Carvana Gears Up to Report Q3 Earnings: Here's What to Expect

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Microsoft Corporation (Symbol: MSFT), where a total of 238,487 contracts have traded so far, representing approximately 23.8 million underlying shares. That amounts to about 137.6% of MSFT's average daily trading volume over the past month of 17.3 million shares. Particularly high volume was seen for the $525 strike call option expiring October 24, 2025, with 33,472 contracts trading so far today, representing approximately 3.3 million underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $525 strike highlighted in orange:
Carvana Co (Symbol: CVNA) options are showing a volume of 36,936 contracts thus far today. That number of contracts represents approximately 3.7 million underlying shares, working out to a sizeable 131.6% of CVNA's average daily trading volume over the past month, of 2.8 million shares. Especially high volume was seen for the $355 strike call option expiring October 24, 2025, with 1,694 contracts trading so far today, representing approximately 169,400 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $355 strike highlighted in orange:
And NVIDIA Corp (Symbol: NVDA) saw options trading volume of 2.1 million contracts, representing approximately 212.4 million underlying shares or approximately 126.5% of NVDA's average daily trading volume over the past month, of 168.0 million shares. Especially high volume was seen for the $185 strike call option expiring October 24, 2025, with 304,808 contracts trading so far today, representing approximately 30.5 million underlying shares of NVDA. Below is a chart showing NVDA's trailing twelve month trading history, with the $185 strike highlighted in orange:
For the various different available expirations for MSFT options, CVNA options, or NVDA options, visit StockOptionsChannel.com.
Also see:
Materials Stocks Hedge Funds Are Buying
SYRE market cap history
SBE YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: MSFT, CVNA, NVDA

(RTTNews) - Carvana Co. (CVNA), an online retailer of used cars, on Tuesday announced the launch of same-day vehicle delivery in the greater San Diego area.
The company said select San Diego customers can now receive their purchased vehicle the same day they order on Carvana.com. Customers looking to sell a car can also schedule same-day pickup or drop-off after completing Carvana's online appraisal process.
Carvana's same-day delivery service, first introduced in Arizona, is now available in select markets across more than 20 states, with plans to expand to additional locations in the coming months.
Carvana shares were trading at $346.10 on Tuesday, up 2.58%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Carvana Launches Same-Day Vehicle Delivery In San Diego

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Carvana Co (Symbol: CVNA), where a total volume of 28,215 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 102% of CVNA's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $330 strike call option expiring October 31, 2025, with 1,803 contracts trading so far today, representing approximately 180,300 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $330 strike highlighted in orange:
Hims & Hers Health Inc (Symbol: HIMS) options are showing a volume of 274,622 contracts thus far today. That number of contracts represents approximately 27.5 million underlying shares, working out to a sizeable 97.3% of HIMS's average daily trading volume over the past month, of 28.2 million shares. Particularly high volume was seen for the $65 strike call option expiring October 24, 2025, with 17,526 contracts trading so far today, representing approximately 1.8 million underlying shares of HIMS. Below is a chart showing HIMS's trailing twelve month trading history, with the $65 strike highlighted in orange:
And Western Alliance Bancorporation (Symbol: WAL) options are showing a volume of 12,957 contracts thus far today. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 90.2% of WAL's average daily trading volume over the past month, of 1.4 million shares. Especially high volume was seen for the $55 strike put option expiring December 19, 2025, with 3,234 contracts trading so far today, representing approximately 323,400 underlying shares of WAL. Below is a chart showing WAL's trailing twelve month trading history, with the $55 strike highlighted in orange:
For the various different available expirations for CVNA options, HIMS options, or WAL options, visit StockOptionsChannel.com.
Also see:
Dividend ETFs
ORKA Average Annual Return
Funds Holding DTO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: CVNA, HIMS, WAL

For Immediate Release
Chicago, IL – October 16, 2025 – Stocks in this week’s article are Hasbro HAS, Peloton Interactive PTON, Carvana CVNA, CVS Health CVS and Kinross Gold KGC.
Looking for Earnings Beats? Buy These 5 Top-Ranked Stocks
It is not surprising that before an earnings season, every investor looks for stocks that can beat market expectations. This is because investors always try to position themselves ahead of time and look to tap stocks that are of high quality in nature.
In this regard, we ran a screener that yielded stocks Hasbro, Peloton Interactive, Carvana, CVS Health and Kinross Gold as the likely winners on the earnings beat potential.
Why Is a Positive Earnings Surprise So Important?
Historically, stocks of companies with solid quarterly earnings (on a nominal basis) tank if they miss or merely meet market expectations. After all, a 20% earnings rise (though apparently looks good) doesn’t tell you if earnings growth has been exhibiting a decelerating trend.
Also, seasonal fluctuations come into play sometimes. If a company’s Q1 is seasonally weak and Q4 strong, then it is likely to report a sequential earnings decline. In such cases, growth rates are misleading while judging the true health of a company.
On the other hand, after much brainstorming and analysis of companies’ financials and initiatives, Wall Street analysts project earnings of companies. They in fact club their insights and a company’s guidance when deriving an earnings estimate.
Thus, outperforming that estimate is almost equivalent to beating the company’s own expectation as well as the market perception. And if the margin of earnings surprise is big, it typically drives the stock higher right after the release. Thus, more than anything else, an earnings surprise can push a stock higher.
How to Find Stocks that Can Beat?
Now, finding stocks that have the potential to beat on the bottom line may be investors’ dream but not an easy job. One way to do this is to look at the earnings surprise history of the company.
An impressive track in this regard generally acts as a catalyst in sending a stock higher. It indicates the company’s ability to surpass estimates. And investors generally believe that the company will apply the same secret sauce to execute yet another earning beat in its next release.
Here are five out of 18 stocks:
Hasbro: The Zacks Rank #2 company Hasbro is engaged in the design, manufacture and marketing of games and toys. You can see the complete list of today’s Zacks #1 Rank stocks here.
The average earnings surprise of HAS for the past four quarters is 43.75%.
Peloton Interactive: The Zacks Rank #1 company creates fitness products. The brand's content is accessible through the Peloton Bike, the Peloton Tread, and Peloton Digital, which provides a full slate of fitness offerings, anytime, anywhere, through IOS and Android as well as most tablets and computers. The PTON stock has a Zacks Rank #1.
The average earnings surprise of PTON for the past four quarters is 36.28%.
Carvana: The Zacks Rank #2 company is a leading e-commerce platform for buying and selling used cars.
The average earnings surprise of CVNA for the past four quarters is 107.32%.
CVS Health: This is a pharmacy innovation company with integrated offerings across the entire spectrum of pharmacy care. The stock has a Zacks Rank #2.
The average earnings surprise of CVS for the past four quarters is 22.57%.
Kinross Gold: Zacks Rank #2 Kinross Gold Corporation is involved in the exploration and operation of gold mines.
The average earnings surprise of KGC for the past four quarters is 22.50%.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2768984/looking-for-earnings-beat-buy-these-5-top-ranked-stocks
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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Carvana Co. (CVNA) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zacks.com featured highlights include Hasbro, Peloton Interactive, Carvana, CVS Health and Kinross Gold

Key Points
CarMax had a disappointing second quarter, with revenue and earnings declines.
Management pointed to cost-cutting and marketing efforts aimed at mitigating a challenging economic environment.
The stock looks cheap, at least on the surface.
Shares of used car giant CarMax (NYSE: KMX) plunged 26.9% in September, according to data from S&P Global Market Intelligence, drastically underperforming an otherwise positive month for the markets.
Not only is CarMax not a part of the AI tech stock cohort that saw massive interest in September, but the company also reported earnings during the month, which fell well short of expectations.
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CarMax reports declines and announces cost cuts
In its second quarter, CarMax reported revenue declines of 6% to $6.59 billion, and an earnings per share decline of 24.7% to $0.64. Both figures missed analysts' expectations.
Management acknowledged the challenges of the current quarter, but pointed to new initiatives it anticipates will turn things around. The first is a cost-cutting initiative, by which management is seeking $150 million in selling, general, and administrative cost cuts over the next 18 months.
The second is on the marketing front, where CarMax unveiled its new "Wanna Drive?" campaign in August. The "Wanna Drive?" campaign highlights CarMax's new omnichannel capabilities, a competitive reaction to online-first competitors such as Carvana (NYSE: CVNA) and others.
But while that all may sound promising, CarMax is fighting against an unfavorable macroeconomic environment. Late in September, the Conference Board reported a worse-than-expected decline in consumer confidence, with a reading of 94.2, down from 97.8 in the prior month and well below the 96.0 reading expected by economists.
Automobile purchases are big-ticket items, so consumers may hold off purchases if their confidence in the economy and their future prospects darkens. While the Federal Reserve did commence cutting interest rates in September for the first time in nine months, it likely did so in reaction to a weakening job market and economic outlook, even as inflation remains above its target.
Can CarMax turn it around?
After the September decline, CarMax looks somewhat cheap on the surface, now trading at 14 times this year's earnings estimates and just 11.8 times next year's earnings expectations.
It therefore appears CarMax may be a value stock that could be appealing to investors shying away from the high valuations of the AI and technology sector.
Of note, CarMax does have over $16.4 billion in debt, but that debt is backed up by roughly the equivalent amount of CarMax auto finance loans, which CarMax holds on its balance sheet, and from which it generates a positive interest rate spread.
So while CarMax shouldn't be considered "heavily indebted," its business is very economically sensitive, in that used cars are big-ticket items, while the auto loan financing business essentially functions like a bank. Overall, CarMax is also a low-margin business, with a net profit margin of just 1.4% last quarter.
So CarMax looks like a cheap stock at the moment, but investors need to bank on a cyclical recovery or stabilization in consumer spending for the stock to deliver on that promise.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why CarMax Plunged in September

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in John Wiley & Sons Inc. (Symbol: WLY), where a total volume of 24,291 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 716.5% of WLY's average daily trading volume over the past month, of 339,030 shares. Particularly high volume was seen for the $35 strike put option expiring November 21, 2025, with 6,016 contracts trading so far today, representing approximately 601,600 underlying shares of WLY. Below is a chart showing WLY's trailing twelve month trading history, with the $35 strike highlighted in orange:
Carvana Co (Symbol: CVNA) options are showing a volume of 44,349 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 163% of CVNA's average daily trading volume over the past month, of 2.7 million shares. Especially high volume was seen for the $300 strike put option expiring October 31, 2025, with 8,017 contracts trading so far today, representing approximately 801,700 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $300 strike highlighted in orange:
And PayPal Holdings Inc (Symbol: PYPL) options are showing a volume of 224,893 contracts thus far today. That number of contracts represents approximately 22.5 million underlying shares, working out to a sizeable 150.8% of PYPL's average daily trading volume over the past month, of 14.9 million shares. Especially high volume was seen for the $75 strike call option expiring October 17, 2025, with 12,247 contracts trading so far today, representing approximately 1.2 million underlying shares of PYPL. Below is a chart showing PYPL's trailing twelve month trading history, with the $75 strike highlighted in orange:
For the various different available expirations for WLY options, CVNA options, or PYPL options, visit StockOptionsChannel.com.
Also see:
LQDT shares outstanding history
JGRO Videos
URI Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Wednesday Option Activity: WLY, CVNA, PYPL

The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.34%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.49%. December E-mini S&P futures (ESZ25) rose +0.30%, and December E-mini Nasdaq futures (NQZ25) rose +0.42%.
Stock indexes recovered from early losses on Wednesday and rallied, with the S&P 500 and Nasdaq 100 posting new all-time highs, and the Dow Jones Industrial Average reaching a one-week high. Stock indexes rallied on Wednesday after the September ADP employment change report unexpectedly contracted for a second consecutive month, which knocked the 10-year T-note yield -5 bp to a 1.5-week low. Signs of a weaker labor market also boosted the chances of a Fed rate cut at the October 28-29 FOMC meeting to 100%, according to swaps markets.
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Stocks also found support on Wednesday after the Sep ISM manufacturing index rose more than expected to a 7-month high. In addition, strength in chipmakers supported gains in the broader market, and pharmaceutical stocks rose for a second day on hopes that Pfizer's deal with the US government, which gives it a three-year reprieve from pharmaceutical tariffs, will set a path for other pharmaceutical makers to follow.
Stocks initially moved lower on Wednesday due to the US government shutdown, following lawmakers' failure to pass a continuing resolution to fund the government. The dollar index fell to a one-week low on Wednesday, and gold prices climbed to a record high as the government shutdown sparked a risk-off sentiment in asset markets. The shutdown also means a delay in government reports, including Thursday's weekly jobless claims report and Friday's monthly payroll report. A prolonged shutdown could also delay the government's inflation data, scheduled for release on October 15.
US MBA mortgage applications fell -12.7% in the week ended September 26, with the purchase mortgage sub-index down -1.0% and the refinancing sub-index down -20.6%. The average 30-year fixed rate mortgage rose +12 bp to 6.46% from 6.34% in the prior week.
The US Sep ADP employment change unexpectedly fell -32,000, weaker than expectations of a +51,000 increase and the largest decline in 2.5 years. Also, Aug was revised lower to -3,000 from the previously reported +54,000.
The US Sep ISM manufacturing index rose +0.4 to a 7-month high of 49.1, stronger than expectations of 49.0. The Sep ISM prices paid sub-index fell -1.8 to an 8-month low of 61.9, weaker than expectations of 62.7.
The White House warned last Wednesday that a government shutdown would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during a shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, more than 22% of companies in the S&P 500 provided guidance for their Q3 earnings results that are expected to beat analysts' expectations, the highest in a year. Also, S&P companies are expected to post +6.9% earnings growth in Q3, up from +6.7% as of the end of May.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Market focus this week will be on any new trade or tariff news. On Thursday, if the US government reopens, weekly initial unemployment claims are expected to increase by +7,000 to 225,000. Also, Aug factory orders are expected to increase by +1.4% m/m. On Friday, if the US government reopens, Sep nonfarm payrolls are expected to increase by +51,000, and the Sep unemployment rate is expected to remain unchanged at 4.3%. Also, Sep average hourly earnings are expected to increase by +0.3% m/m and +3.7% y/y. Finally, the Sep ISM services index is expected to slip -0.2 to 51.8.
Overseas stock markets on Wednesday settled mixed. The Euro Stoxx 50 climbed to a new record high and closed up +0.94%. China's Shanghai Composite did not trade and is closed for the week-long Lunar New Year holiday. Japan's Nikkei Stock 225 fell to a 2.5-week low and closed down -0.85%.
Interest Rates
December 10-year T-notes (ZNZ5) on Wednesday closed up +11 ticks. The 10-year T-note yield fell -4.6 bp to 4.104%. Dec T-notes climbed to a 1-week high on Wednesday, and the 10-year T-note yield fell to a 1.5-week low of 4.085%. T-notes rallied on Wednesday on signs of weakness in the US labor market after the Sep ADP employment change unexpectedly declined for a second month. The shutdown of the US government also boosted safe-haven demand for T-notes. An easing of price pressures also supported T-notes after the Sep ISM prices paid sub-index fell more than expected to an 8-month low.
European government bond yields on Wednesday were mixed. The 10-year German bund yield rose +0.2 bp at 2.713%. The 10-year UK gilt yield fell -0.3 bp to 4.696%.
The Eurozone Sep S&P manufacturing PMI was revised upward by +0.3 to 49.8 from the previously reported 49.5.
Eurozone Sep CPI rose +2.2% y/y from +2.0% y/y in Aug, right on expectations. Sep core CPI was unchanged from Aug at +2.3% y/y, right on expectations.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Pharmaceutical stocks rallied for a second consecutive day on Wednesday, in hopes that Pfizer's deal with the US government, which grants it a three-year reprieve from pharmaceutical tariffs, will set a path for other pharmaceutical makers to follow. As a result, AstraZeneca Plc (AZN) closed up more than +9% to lead gainers in the Nasdaq 100, and Eli Lilly (LLY) closed up more than +8%. Also, Merck & Co. (MRK) closed up more than +7% to lead gainers in the Dow Jones Industrials. In addition, Regeneron Pharmaceuticals (REGN), Pfizer (PFE), and Moderna (MRNA) closed up more than +6%, and Biogen (BIIB), Amgen (AMGN), and Bristol-Myers Squibb (BMY) closed up more than +5%.
Chip makers and AI-infrastructure stocks moved higher on Wednesday, a supportive factor for the broader market. Super Micro Computer (SMCI) closed up more than +9%, and Micron Technology (MU) closed up more than +8%. Also, Intel (INTC) closed up more than +7%, and Applied Materials (AMAT), Lam Research (LRCX), and ARM Holdings Plc (ARM) closed up more than +6%. In addition, KLA Corp (KLAC) closed up more than +4%, and ASML Holding NV (ASML) closed up more than +3%.
Cryptocurrency-exposed stocks are climbing today, with the price of Bitcoin up more than +2% at a 1.5-week high. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), and Strategy (MSTR) closed up more than +2%.
Lithium Americas (LAC) closed up more than +23% after Secretary of Energy Wright told Bloomberg TV that the US government agreed to acquire a stake in the company.
AES Corp (AES) closed up more than +16% to lead gainers in the S&P 500 on news that BlackRock's Global Infrastructure Partners LP is in advanced talks to acquire the company.
Nike (NKE) closed up more than +6% after reporting Q1 revenue of $11.72 billion, stronger than the consensus of $11.02 billion.
Carvana (CVNA) closed up more than +5% after Jeffries upgraded the stock to buy from hold with a price target of $475.
Samsara Inc (IOT) closed up more than +2% after Evercore ISI upgraded the stock to outperform from in line with a price target of $50.
Corteva (CTVA) closed down more than -9% to lead losers in the S&P 500 after saying it plans to split its seed and pesticide businesses into separate companies.
MercadoLibre (MELI) closed down more than 8% to lead losers in the Nasdaq 100 on concerns over future sales after rival Amazon Brazil said it will waive all logistics fees, including inbound, storage, and last-mile fees for retail sellers, effectively making its marketplace free through the peak holiday season.
Doximity (DOCS) closed down more than -3% after Goldman Sachs downgraded the stock to sell from neutral with a price target of $64.
Grocery retailers declined on Wednesday after Amazon.com announced the launch of a new private-label food brand, featuring more than 1,000 items. As a result, Dollar Tree (DLTR) closed down more than -4% and Dollar General (DG) closed down more than -3%. Also, BJ's Wholesale Club Holdings (BJ) closed down more than -2%, and Kroger (KR) and Walmart (WMT) closed down more than -1%.
GE Vernova (GEV) closed down more than -1% after RBC Capital Markets downgraded the stock to sector perform from outperform.
Earnings Reports(10/2/2025)
AngioDynamics Inc (ANGO) and Golden Matrix Group Inc (GMGI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Rally as Weak US Jobs News Reinforces Fed Rate Cut Hopes

The S&P 500 Index ($SPX) (SPY) today is down -0.08%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.06%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.02%. December E-mini S&P futures (ESZ25) are down -0.05%, and December E-mini Nasdaq futures (NQZ25) are down -0.03%.
Stock indexes are mixed today, as the broader market is under pressure due to the US government shutdown after lawmakers failed to pass a continuing resolution to fund the government. The dollar index fell to a one-week low today, and gold prices climbed to a record high as the government shutdown sparked a risk-off sentiment in asset markets. The shutdown also means a delay in government reports, including Thursday’s weekly jobless claims report and Friday’s monthly payroll report. A prolonged shutdown could also delay the government’s inflation data, scheduled for release on October 15.
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Stock indexes were also weighed down by signs that the US labor market is losing momentum, following the unexpected loss of jobs in the September ADP employment change for a second consecutive month. The 10-year T-note yield fell -4 bp to a 1.5-week low on the news, and the swaps market priced in a 100% chance the Fed will cut the fed funds target range by 25 bp at the October 28-29 FOMC meeting.
However, stock indexes recovered from their worst levels after the Sep ISM manufacturing index rose more than expected to a 7-month high. Also, a rally in pharmaceutical stocks for a second day gave a boost to the broader market and lifted the Dow Jones Industrials into positive territory, as hopes that Pfizer’s deal with the US government, which gives it a three-year reprieve from pharmaceutical tariffs, will set a path for other pharmaceutical makers to follow.
US MBA mortgage applications fell -12.7% in the week ended September 26, with the purchase mortgage sub-index down -1.0% and the refinancing sub-index down -20.6%. The average 30-year fixed rate mortgage rose +12 bp to 6.46% from 6.34% in the prior week.
The US Sep ADP employment change unexpectedly fell -32,000, weaker than expectations of a +51,000 increase and the largest decline in 2.5 years. Also, Aug was revised lower to -3,000 from the previously reported +54,000.
The US Sep ISM manufacturing index rose +0.4 to a 7-month high of 49.1, stronger than expectations of 49.0. The Sep ISM price paid sub-index fell -1.8 to an 8-month low of 61.9, weaker than expectations of 62.7.
The White House warned last Wednesday that a government shutdown would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during a shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, more than 22% of companies in the S&P 500 provided guidance for their Q3 earnings results that are expected to beat analysts’ expectations, the highest in a year. Also, S&P companies are expected to post +6.9% earnings growth in Q3, up from +6.7% as of the end of May.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Market focus this week will be on any new trade or tariff news. On Thursday, if the US government reopens, weekly initial unemployment claims are expected to increase by +7,000 to 225,000. Also, Aug factory orders are expected to increase by +1.4% m/m. On Friday, Sep nonfarm payrolls are expected to increase by +51,000, and the Sep unemployment rate is expected to remain unchanged at 4.3%. Also, Sep average hourly earnings are expected to increase by +0.3% m/m and +3.7% y/y. Finally, the Sep ISM services index is expected to slip -0.2 to 51.8.
Overseas stock markets today are mixed. The Euro Stoxx 50 climbed to a new record high and is up +0.87%. China’s Shanghai Composite did not trade and is closed for the week-long Lunar New Year holiday. Japan’s Nikkei Stock 225 fell to a 2.5-week low and closed down -0.85%.
Interest Rates
December 10-year T-notes (ZNZ5) today are up +10 ticks. The 10-year T-note yield is down -4.5 bp to 4.106%. Dec T-notes climbed to a 1-week high today, and the 10-year T-note yield fell to a 1.5-week low of 4.085%. T-notes rallied today on signs of weakness in the US labor market after the Sep ADP employment change unexpectedly declined for a second month. The shutdown of the US government and weakness in stocks today have also boosted safe-haven demand for T-notes. T-notes fell back from their best levels after the Sep ISM manufacturing index rose more than expected to a 7-month high.
European government bond yields today gave up an early advance and turned lower on the weakness in T-note yields. The 10-year German bund yield is down -0.6 bp at 2.705%. The 10-year UK gilt yield is down -0.7 bp to 4.692%.
The Eurozone Sep S&P manufacturing PMI was revised upward by +0.3 to 49.8 from the previously reported 49.5.
Eurozone Sep CPI rose +2.2% y/y from +2.0% y/y in Aug, right on expectations. Sep core CPI was unchanged from Aug at +2.3% y/y, right on expectations.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Weakness in medical device makers is a negative factor for the overall market. Insulet (PODD) is down more than -6% to lead losers in the S&P 500, and Dexcom (DXCM) is down more than -5% to lead losers in the Nasdaq 100. Also, Edwards Lifesciences (EW), IDEXX Laboratories (IDXX), and Boston Scientific (BSX) are down more than -4%. In addition, Intuitive Surgical (ISRG), Medtronic Plc (MDT), Stryker (SYK), and STERIS Plc (STE) are down more than -3%.
Corteva (CTVA) is down more than -5% to lead losers after saying it plans to split its seed and pesticide businesses into separate companies.
Doximity (DOCS) is down more than -3% after Goldman Sachs downgraded the stock to sell from neutral with a price target of $64.
Viasat Inc (VSAT) is down more than -2% after Barclays downgraded the stock to underweight from equal weight with a price target of $23.
GE Vernova (GEV) is down more than -2% after RBC Capital Markets downgraded the stock to sector perform from outperform.
Marvell Technology (MRVL) is down more than -1% to lead losers in the Nasdaq 100 after TD Cowen downgraded the stock to hold from buy.
AES Corp (AES) is up more than +16% to lead gainers in the S&P 500 on news that BlackRock’s Global Infrastructure Partners LP is in advanced talks to acquire the company.
Lithium Americas (LAC) is up more than +16% after Secretary of Energy Wright told Bloomberg TV that the US government agreed to acquire a stake in the company.
Pharmaceutical stocks are rallying for a second day on hopes that Pfizer’s deal with the US government, giving it a three-year reprieve from pharmaceutical tariffs, will set a path for other pharmaceutical makers to follow. As a result, Moderna (MRNA) is up more than +8% and AstraZeneca Plc (AZN) is up more than +7% to lead gainers in the Nasdaq 100. Also, Regeneron Pharmaceuticals (REGN) is up more than +7%, and Eli Lilly (LLY) and Biogen (BIIB) are up more than +5%. In addition, Amgen (AMGN), Bristol-Myers Squibb (BMY), Pfizer (PFE), and Merck & Co. (MRK) are up more than +4%.
Chip makers and AI-infrastructure stocks are moving higher today, a supportive factor for the broader market. Micron Technology (MU) is up more than +5% and ARM Holdings Plc (ARM) is up more than +4%. Also, Applied Materials (AMAT) is up more than +3% and Intel (INTC) is up more than +2%. In addition, KLA Corp (KLAC) and ASML Holding NV (ASML) are up more than +1%.
Cryptocurrency-exposed stocks are climbing today, with the price of Bitcoin up more than +2% at a 1.5-week high. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), and Strategy (MSTR) are up more than +3%.
Nike (NKE) is up more than +5% to lead gainers in the Dow Jones Industrials after reporting Q1 revenue of $11.72 billion, stronger than the consensus of $11.02 billion.
Carvana (CVNA) is up more than +1% after Jeffries upgraded the stock to buy from hold with a price target of $475.
Samsara Inc (IOT) is up more than +1% after Evercore ISI upgraded the stock to outperform from in line with a price target of $50.
Earnings Reports(10/1/2025)
Acuity Inc (AYI), Cal-Maine Foods Inc (CALM), Conagra Brands Inc (CAG), Novagold Resources Inc (NG), Rezolve AI PLC (RZLV), RPM International Inc (RPM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.