Intel, Amazon, Reddit, Chevron, Exxon, and More Stocks That Explain Today’s Market

Traders working at the New York Stock Exchange. (NYSE)

Key Points

Intel stock fell after underwhelming guidance followed a fatal explosion at one of its facilities.
Amazon.com stock dropped after its third-quarter earnings missed Wall Street expectations.
ExxonMobil and Chevron stocks rose after both oil companies recorded large third-quarter profits.

Stock futures were mixed on Monday as technology shares sold off on the back of earnings but oil companies benefited from surging profits, fueled by the Iran conflict.

Intel stock was falling 25% after underwhelming guidance surprised the market, following a fatal explosion at one of its facilities. Its weak forecast for the PC market was dragging down peers Dell Technologies and HP.

Amazon .com was down 6.3% after third-quarter earnings came in below Wall Street’s expectations on the back of revenue from retail and advertising.

Reddit fell 19% after its earnings showed weaker-than-expected user growth as traffic trends continue to face pressures from Google search updates.

The tech selloff was taking down cloud-computing companies with CoreWeave and Nebius Group dropping more than 7%. Chip stocks were also suffering with Advanced Micro Devices down nearly 8%.

But things were brighter for oil companies. Exxon Mobil was rising 1.6% and Chevron was gaining 1.2% after both banked huge third-quarter profits.

Write to Adam Clark at adam.clark@barrons.com

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