Elliott Investment Management Adds To Southwest, Western Digital, Etsy, Match Group; Trims BILL Holdings, Seadrill, BlackLine, NRG Energy In Q3

Every quarter, I track the 13F filings at the SEC. These are the reports filed by money managers of all stripes that show what the funds owned during the most recent quarter. When you compare the current list to the prior quarter, you come away with a clear picture of what institutions are buying for their customers and themselves.

When I started in the business, it took several days past the deadline to get a copy of the filings. I would go through the current and previous filings with a ruler and a yellow highlighter to track the changes. It was laborious but profitable. Today, the filings are made available instantly, and the portfolios and changes are posted to the internet instantly.

The Thundering Herd of Wall Street and the Instant Experts of the Internet will flock to read the filings of the best-known money managers and investors. Obviously, Warren Buffett gets a lot of attention. So do Carl Icahn and Cathie Wood. Bill Ackman also garners some attention. The number of people who dig deeper to find managers that are doing business away from the spotlights and consistently delivering high returns is small.

The famous investors are famous because they did well over time. However, they now manage billions of dollars, and their opportunity set is limited to large-cap stocks. You can do okay with their stocks, but if you want better than okay, you have to dig deeper.

If you joined the circus of Buffettology and just owned the top 20 holdings of Berkshire Hathaway for the last 10 years, you have earned about half the return of the S&P 500. You did much worse as an Icahn clone investor. A very small portion of Klarman’s fund is invested in stocks these days as he finds bargains in other asset classes like debt and real estate. The stocks Baupost Fund has purchased have not been big winners for the most part.

If you could make the same derivatives bets Bill Ackman made when he made them, you would have done pretty well. If you just bought the stocks he did, you would have lagged the indexes. If you bought the top 20 stocks held by Donald Smith and Company, you would have crushed the market over the last decade. You would have crushed the market for over 20 years cloning this unknown investment firm.

You would have never owned the most exciting stocks. About half the time, you would have trailed the index in a given calendar year. In the years you outperformed, you outperformed by a massive margin.

This approach is incredibly boring.

Donald Smith and Company focuses on the bottom 10% of the stock market as measured by price-to-book value. They narrow the universe down to the cheapest ones and buy the ones they think have the highest potential for recovery. They have done that for over 40 years with exceptional results. Elections, crashes, melt-ups, and meltdowns have come and gone, and this firm just keeps its head down and buys cheap stocks.

As it turns out, boring is profitable.

Founder Donald Smith passed away in 2019, but his associates have kept the firm going with the same mission. The top 20 holdings contain no tech stocks. They do not even own a single tech stock or uranium miner. Donald Smith and Company owns some insurance companies, energy firms, homebuilders, REITs, and even steel companies.

Using their 13F filings to manage your portfolio or find ideas would have delivered market-beating returns that grew your wealth at a much faster pace than owning an index fund. $10,000 invested in the index with dividends reinvested would have piled up to a total of about $67,300. Shamelessly cloning the Donald Smith and Company portfolio would have given you over $151,000.

Today is the deadline for 13F filings covering holdings on September 30, 2024. The Instant Experts and talking heads will be out discussing what the famous investors have been doing. The key is to focus on what the investors who are still crushing the market are doing. We will talk more about this idea over the next week. For now, here are the top 20 stocks owned by Donald Smith and Company as of the end of the third quarter:

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Shares of Lyft, Inc. rose sharply in today's pre-market trading after the company reported better-than-expected quarterly results.

Lyft reported quarterly losses of three cents per share which beat the analyst consensus estimate for losses of four cents. Quarterly revenue came in at $1.52 billion which beat the analyst consensus estimate of $1.44 billion and is an increase over sales of $1.15 billion from the same period last year.

Lyft shares rose 21.5% to $17.49 in the pre-market trading session.

Here are some other stocks moving in pre-market trading.

Gainers

• AtlasClear Holdings, Inc. gained 89.6% to $0.3412 in pre-market trading after gaining around 13% on Wednesday.
• Interactive Strength Inc. rose 81.5% to $0.1650 in pre-market trading. Interactive Strength will release third quarter results before the market opens on Thursday, Nov. 14.
• MDJM Ltd shares surged 49.7% to $0.2252 in pre-market trading after declining around 6% on Wednesday.
• Ensysce Biosciences, Inc. gained 32.6% to $0.7305 in pre-market trading after gaining 5% on Wednesday.
• AppLovin Corporation climbed 27.5% to $214.84 in pre-market trading after the company reported better-than-expected third-quarter financial results.
• Laird Superfood, Inc. shares rose 22% to $8.99 in pre-market trading after the company reported better-than-expected third-quarter financial results.
• Emergent BioSolutions Inc. gained 19.8% to $11.03 in pre-market trading after posting strong quarterly earnings.
• Freshworks Inc. gained 17.7% to $15.40 in pre-market trading following better-than-expected quarterly earnings.
• The Oncology Institute, Inc gained 17.6% to $0.3469 in pre-market trading. The Oncology Institute will release its third quarter financial results after the market close on Wednesday, Nov. 13.
• Dutch Bros Inc. gained 15.8% to $40.49 in pre-market trading following strong quarterly results.

Losers

• Digital Turbine, Inc. shares tumbled 41.1% to $1.91 in pre-market trading after reporting downbeat quarterly results.
• FOXO Technologies Inc. shares fell 32% to $0.5321 in pre-market trading after surging 475% on Wednesday.
• Cardlytics, Inc. dipped 31.9% to $3.55 in pre-market trading following third-quarter results.
• Wolfspeed, Inc. shares fell 24.5% to $10.35 in pre-market trading after the company reported third-quarter financial results.
• SolarEdge Technologies, Inc. declined 19% to $11.89 in pre-market trading following third-quarter results.
• Burford Capital Limited shares dipped 16.4% to $12.21 in pre-market trading. Burford Capital will release its financial results for the three and nine months ended Sept. 30, on Thursday, Nov. 7.
• ARB IOT Group Limited fell 15.4% to $0.6879 in pre-market trading after surging 44% on Wednesday.
• Corsair Gaming Inc fell 14.1% to $6.12 in today's pre-market trading after the company reported worse-than-expected financial results.
• Match Group, Inc. fell 12.8% to $33.00 in pre-market trading following mixed third-quarter financial results.
• Sutro Biopharma, Inc. fell 11.6% to $3.66 in pre-market trading after gaining around 8% on Wednesday.

Now Read This:

• Jim Cramer: This Financial Stock Is A Buy, Likes Broadcom

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The S&P 500 Index Wednesday closed up +2.53%, the Dow Jones Industrials Index closed up +3.57%, and the Nasdaq 100 Index closed up +2.74%.

Stocks on Wednesday closed sharply higher, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posting new all-time highs. Stocks soared after Republican candidate Trump won the presidential election. Republicans also gained control of the Senate, but control of the House was still undecided, with many races too close to call. Bank stocks climbed based on expectations of reduced regulations from the Trump administration. Also, health insurers focused on the Medicare market rallied on the view that the Trump administration will pay higher rates to insurers that provide private versions of the US health program for seniors.

The dollar rallied to a 4-month high on the election news, and the 10-year T-note yield jumped to a 4-month high on the prospects of higher inflation due to Trump's policies of tax cuts and increased tariffs.

Bitcoin U Wednesday closed down -27.5 ticks. The 10-year T-note yield rose +15.5 bp to 4.426%. Dec T-notes Wednesday sank to a 4-month low, and the 10-year T-note yield surged to a 4-month high of 4.477%. T-notes plunged Wednesday as President-elect Trump's policies of low taxes and high tariffs are expected to boost growth and inflation, which are hawkish factors for Fed policy. An increase in inflation expectations also hammered T-notes after the 10-year breakeven inflation rate climbed +10 bp and posted a 6-1/4 month high of 2.430%. Wednesday's rally in the S&P 500 to a new record high also reduced safe-haven demand for T-notes.

T-notes recovered from their worst levels Wednesday on strong demand for the Treasury's $25 billion auction of 30-year T-bonds that had a bid-to-cover ratio of 2.64, well above the 10-auction average of 2.40 and the highest in more than 6 years.

European government bond yields on Wednesday were mixed. The 10-year German bund yield fell -2.0 bp to 2.405%. The 10-year UK gilt yield climbed to a 1-year high of 4.594% and finished up +3.3 bp at 4.563%.

The Eurozone Oct composite PMI was revised upward by +0.3 to 50.0 from the previously reported 49.7.

Eurozone Sep PPI eased to -3.4% y/y from -2.3% y/y in Aug, right on expectations.

German Sep factory orders rose +4.2% m/m, stronger than expectations of +1.5% m/m.

ECB Vice President Guindos said global economic output would be weaker, price pressure would be stronger, and established trade flows would be disrupted if US President-elect Trump implemented the kinds of import tariffs he threatened during his campaign.

Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 22% for a -50 bp rate cut at the same meeting.

US Stock Movers

Bank stocks soared on expectations that the Trump administration will loosen regulations for the industry. Discover Financial Services soared by +21%, Synchrony Financial rallied +19%, Capital One Financial rallied +15%, and Wells Fargo rallied +14%. Goldman Sachs rallied more than +13% to lead gainers in the Dow Jones Industrials. Morgan Stanley and JPMorgan Chase rallied +12%. Bank of America and Citigroup rallied +9%.

Cryptocurrency-related stocks rallied sharply with the price of Bitcoin up more than +9% at a record high. Coinbase Global soared by +32%. Riot Platforms rallied +27%, Marathon Digital rallied +20%, and MicroStrategy rallied +14%.

Chip stocks climbed Wednesday. GlobalFoundries rallied +14%. Intel rallied +8%. Texas Instruments and Micron Technology rallied +7%. ON Semiconductor , Analog Devices , Nvidia , Marvell Technology , Qualcomm , and NXP Semiconductors NV all rallied by at least +3%.

Tesla rallied by +14.8% to lead gainers in the Nasdaq 100 on speculation the company will be a major beneficiary of Trump's return to the White House.

US health insurers focused on the Medicare market rallied on expectations that the Trump administration will pay higher rates to companies that provide private versions of the US health program for seniors. Humana and CVS Health rallied by about +12%. UnitedHealth Group rallied +6%.

Qualys Inc rallied +25% after reporting Q3 adjusted EPS of $1.56, stronger than the consensus of $1.33, and raising its full-year adjusted EPS forecast to $5.81-$5.91 from a previous forecast of $5.46-$5.62, above the consensus of $5.59.

Charles River Laboratories International rallied +14% after reporting Q3 revenue of $1.01 billion, better than the consensus of $976.7 million.

Globus Medical rallied +10% after reporting Q3 net sales of $625.7 million, stronger than the consensus of $603.9 million, and raising its full-year net sales forecast to $2.49 billion-$2.50 billion from a previous forecast of $2.47 billion-$2.49 billion, better than the consensus of $2.48 billion.

Super Micro Computer fell -17% to lead losers in the S&P 500 and Nasdaq 100 after reporting preliminary Q1 net sales of $5.9 billion-$6.0 billion, weaker than the consensus of $6.47 billion and forecast Q2 net sales of $5.5 billion-$6.1 billion, well below the consensus of $6.79 billion.

Home builders sank as the jump in the 10-year T-note yield to a 4-month high pushed mortgage rates higher and is likely to dampen housing demand. As a result, Lennar fell -4.19%, DR Horton fell -3.13%, PulteGroup fell -2.40%, and Toll Brothers fell -0.78%.

US health insurers that sell private versions of Medicaid were under pressure because of the expectation that the Trump administration will pull back on funding. As a result, Centene , HCA Healthcare , and Molina Healthcare showed losses of between -1% and -4%.

Exact Sciences fell -23% after reporting Q3 revenue of $708.1 million, below the consensus of $716.9 million, and cutting its full-year revenue forecast to $2.73 billion-$2.75 billion from a previous forecast of $2.81 billion-$2.85 billion, weaker than the consensus of $2.83 billion.

Coupang fell -10% after reporting Q3 retail net sales of $6.14 billion, below the consensus of $6.24 billion.

Five Below fell -9% after Bank of America Global Research downgraded the stock to underperform from neutral with a price target of $75.

Cboe Global Markets fell -4% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $199.

Earnings Reports (11/7/2024)

Air Products and Chemicals Inc (APD), Airbnb Inc (ABNB), Akamai Technologies Inc (AKAM), Arista Networks Inc (ANET), Axon Enterprise Inc (AXON), Becton Dickinson & Co (BDX), Consolidated Edison Inc (ED), Corpay Inc (CPAY), Duke Energy Corp (DUK), EOG Resources Inc (EOG), EPAM Systems Inc (EPAM), Evergy Inc (EVRG), Expedia Group Inc (EXPE), Fortinet Inc (FTNT), Halliburton Co (HAL), Hershey Co/The (HSY), Insulet Corp (PODD), Kenvue Inc (KVUE), Mettler-Toledo International Inc (MTD), Moderna Inc (MRNA), Molson Coors Beverage Co (TAP), Monster Beverage Corp (MNST), Motorola Solutions Inc (MSI), News Corp (NWSA), PG&E Corp (PCG), Ralph Lauren Corp (RL), Rockwell Automation Inc (ROK), Solventum Corp (SOLV), Tapestry Inc (TPR), TransDigm Group Inc (TDG), Viatris Inc (VTRS), Vistra Corp (VST), Warner Bros Discovery Inc (WBD).

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 Policyhere.

The S&P 500 Index today is up +1.91%, the Dow Jones Industrials Index is up +3.14%, and the Nasdaq 100 Index is up +2.03%.

Stocks today are sharply higher, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posting new all-time highs. Stocks are soaring today after Republican candidate Trump won the presidential election. Republicans also gained control of the Senate, but control of the House was still undecided, with many races too close to call. Bank stocks are climbing today based on expectations of reduced regulations from the Trump administration. Also, health insurers focused on the Medicare market rallied on the view that the Trump administration will pay higher rates to insurers that provide private versions of the US health program for seniors.

The dollar also rallied to a 4-month high today on the election news, and the 10-year T-note yield jumped to a 4-month high on the prospects of higher inflation due to Trump’s policies of tax cuts and increased tariffs.

Bitcoin U today are down -1-1/32 points. The 10-year T-note yield is up +18.0 bp at 4.451%. Dec T-notes today sank to a 4-month low, and the 10-year T-note yield surged to a 4-month high of 4.477%. T-notes are plunging today as President-elect Trump’s policies of low taxes and high tariffs are seen as boosting growth and inflation, which are hawkish factors for Fed policy. Supply pressures are also weighing on T-notes as the Treasury will auction $25 billion of 30-year T-bonds later today to conclude this week’s $125 billion T-note and T-bond auctions for the November quarterly refunding.

European government bond yields today are mixed. The 10-year German bund yield is down -2.7 bp at 2.398%. The 10-year UK gilt yield climbed to a 1-year high of 4.594% and is up +3.8 bp at 4.568%.

The Eurozone Oct composite PMI was revised upward by +0.3 to 50.0 from the previously reported 49.7.

Eurozone Sep PPI eased to -3.4% y/y from -2.3% y/y in Aug, right on expectations.

German Sep factory orders rose +4.2% m/m, stronger than expectations of +1.5% m/m.

ECB Vice President Guindos said global economic output would be weaker, price pressure would be stronger, and established trade flows would be disrupted if US President-elect Trump implemented the kinds of import tariffs he threatened during his campaign.

Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 19% for a -50 bp rate cut at the same meeting.

US Stock Movers

Bank stocks are soaring today on expectations that the Trump administration will loosen regulations for the industry. As a result, Discover Financial Services and Synchrony Financial are up more than +16%. Also, Capital One Financial and Wells Fargo & Co are up more than +12%. In addition, Goldman Sachs is up more than +12% to lead gainers in the Dow Jones Industrials. Finally, Morgan Stanley , Bank of America , Citigroup , JPMorgan Chase , and M&T Bank are up more than +8%.

Cryptocurrency-related stocks are sharply higher today with the price of Bitcoin up more than +6% at a record high. As a result, Coinbase Global , Marathon Digital , MicroStrategy , and Riot Platforms are up by more than +11%.

Chip stocks are climbing today. GlobalFoundries is up more than +10%. Also, Intel and Texas Instruments are up more than +4%. In addition, Micron Technology , ON Semiconductor , Analog Devices , and Marvell Technology are up more than +3%. In addition, Nvidia , Qualcomm , and NXP Semiconductors NV are up more than +2%.

Tesla is up more than +11% to lead gainers in the Nasdaq 100 on speculation the company will be a major beneficiary of Trump’s return to the White House.

US health insurers focused on the Medicare market are rallying today on expectations that the Trump administration will pay higher rates to companies that provide private versions of the US health program for seniors. As a result, UnitedHealth Group , Humana , and CVS Health are up more than +6%.

Qualys Inc is up more than +15% after reporting Q3 adjusted EPS of $1.56, stronger than the consensus of $1.33, and raising its full-year adjusted EPS forecast to $5.81-$5.91 from a previous forecast of $5.46-$5.62, above the consensus of $5.59.

Charles River Laboratories International is up more than +11% after reporting Q3 revenue of $1.01 billion, better than the consensus of $976.7 million.

Globus Medical is up more than +7% after reporting Q3 net sales of $625.7 million, stronger than the consensus of $603.9 million, and raising its full-year net sales forecast to $2.49 billion-$2.50 billion from a previous forecast of $2.47 billion-$2.49 billion, better than the consensus of $2.48 billion.

Super Micro Computer is down more than -25% to lead losers in the S&P 500 and Nasdaq 100 after reporting preliminary Q1 net sales of $5.9 billion-$6.0 billion, weaker than the consensus of $6.47 billion and forecast Q2 net sales of $5.5 billion-$6.1 billion, well below the consensus of $6.79 billion.

Home builders are sinking today as the jump in the 10-year T-note yield to a 4-month high will push mortgage rates higher and dampen housing demand. As a result, PulteGroup , Toll Brothers , DR Horton , and Lennar are down more than -4%.

US health insurers that sell private versions of Medicaid are under pressure because of the expectation that the Trump administration will pull back on funding. As a result, Centene , HCA Healthcare , and Molina Healthcare are down more than -2%.

Exact Sciences is down more than -28% after reporting Q3 revenue of $708.1 million, below the consensus of $716.9 million, and cutting its full-year revenue forecast to $2.73 billion-$2.75 billion from a previous forecast of $2.81 billion-$2.85 billion, weaker than the consensus of $2.83 billion.

Coupang is down more than -10% after reporting Q3 retail net sales of $6.14 billion, below the consensus of $6.24 billion.

Five Below is down more than -7% after Bank of America Global Research downgraded the stock to underperform from neutral with a price target of $75.

Cboe Global Markets is down more than -5% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $199.

Earnings Reports (11/6/2024)

Albemarle Corp (ALB), Ameren Corp (AEE), American Electric Power Co Inc (AEP), ANSYS Inc (ANSS), APA Corp (APA), Atmos Energy Corp (ATO), Cencora Inc (COR), Charles River Laboratories Int (CRL), Corteva Inc (CTVA), CVS Health Corp (CVS), Fair Isaac Corp (FICO), Gilead Sciences Inc (GILD), Host Hotels & Resorts Inc (HST), Howmet Aerospace Inc (HWM), Iron Mountain Inc (IRM), Johnson Controls International (JCI), Marathon Oil Corp (MRO), MarketAxess Holdings Inc (MKTX), Match Group Inc (MTCH), McKesson Corp (MCK), Pinnacle West Capital Corp (PNW), PTC Inc (PTC), QUALCOMM Inc (QCOM), Sempra (SRE), STERIS PLC (STE), Take-Two Interactive Software (TTWO), Trimble Inc (TRMB), Williams Cos Inc/The (WMB).

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 Policyhere.

The S&P 500 Index today is up +2.05%, the Dow Jones Industrials Index is up +3.08%, and the Nasdaq 100 Index is up +2.07%.

Stocks today are sharply higher, with the S&P 50 and Dow Jones Industrials posting new record highs and the Nasdaq 10 posting a 3-3/4 month high. Stocks are soaring today after Republican candidate Trump won the presidential election. Republicans also gained control of the Senate, but control of the House was still undecided, with many races too close to call. The dollar also rallied to a 4-month high on election news, and the 10-year T-note yield jumped to a 4-month high on the prospects of higher inflation due to Trump’s policies of tax cuts and increased tariffs.

Bitcoin U today are down -1-4/32 points. The 10-year T-note yield is up +19.2 bp at 4.463%. Dec T-notes today sank to a 4-month low, and the 10-year T-note yield surged to a 4-month high of 4.477%. T-notes are plunging today as President-elect Trump’s policies of low taxes and high tariffs are seen as boosting growth and inflation, which are hawkish factors for Fed policy. Supply pressures are also weighing on T-notes as the Treasury will auction $25 billion of 30-year T-bonds later today to conclude this week’s $125 billion of T-note and T-bond auctions for the November quarterly refunding.

European government bond yields today are mixed. The 10-year German bund yield is down -1.8 bp at 2.406%. The 10-year UK gilt yield climbed to a 1-year high of 4.574% and is up +2.4 bp at 4.553%.

The Eurozone Oct composite PMI was revised upward by +0.3 to 50.0 from the previously reported 49.7.

Eurozone Sep PPI eased to -3.4% y/y from -2.3% y/y in Aug, right on expectations.

German Sep factory orders rose +4.2% m/m, stronger than expectations of +1.5% m/m.

Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 15% for a -50 bp rate cut at the same meeting.

US Stock Movers

Bank stocks are soaring today on expectations that the Trump administration will loosen regulations for the industry. As a result, Discover Financial Services is up more than +22% to lead gainers in the S&P 500. Also, Capital One Financial is up more than +16%, and Goldman Sachs is up more than +9% to lead gainers in the Dow Jones Industrials. In addition, Morgan Stanley , Bank of America , Citigroup , Wells Fargo & Co , and JPMorgan Chase are up more than +7%.

Cryptocurrency-related stocks are sharply higher today with the price of Bitcoin up more than +6% at a record high. As a result, Coinbase Global , Marathon Digital , MicroStrategy , and Riot Platforms are up by more than +11%.

Chip stocks are climbing today. GlobalFoundries and Intel are up more than +6%. Also, Texas Instruments , Analog Devices , and Marvell Technology are up more than +3%. In addition, Nvidia , Qualcomm , and Micron Technology are up more than +2%.

Tesla is up more than +14% to lead gainers in the Nasdaq 100 on speculation the company will be a major beneficiary of Trump’s return to the White House.

US health insurers focused on the Medicare market are rallying today on expectations that the Trump administration will pay higher rates to companies that provide private versions of the US health program for seniors. As a result, UnitedHealth Group , Humana , and CVS Health are up more than +6%

Globus Medical is up more than +11% after reporting Q3 net sales of $625.7 million, stronger than the consensus of $603.9 million, and raising its full-year net sales forecast to $2.49 billion-$2.50 billion from a previous forecast of $2.47 billion-$2.49 billion, better than the consensus of $2.48 billion.

Qualys Inc is up more than +13% after reporting Q3 adjusted EPS of $1.56, stronger than the consensus of $1.33, and raising its full-year adjusted EPS forecast to $5.81-$5.91 from a previous forecast of $5.46-$5.62, above the consensus of $5.59.

Charles River Laboratories International is up more than +13% after reporting Q3 revenue of $1.01 billion, better than the consensus of $976.7 million.

Super Micro Computer is down more than -25% to lead losers in the S&P 500 and Nasdaq 100 after reporting preliminary Q1 net sales of $5.9 billion-$6.0 billion, weaker than the consensus of $6.47 billion and forecast Q2 net sales of $5.5 billion-$6.1 billion, well below the consensus of $6.79 billion.

Home builders are sinking today as the jump in the 10-year T-note yield to a 4-month high will push mortgage rates higher and dampen housing demand. As a result, PulteGroup is down more than -4%, and Toll Brothers is down more than -3%. Also, DR Horton and Lennar are down more than -2%.

US health insurers that sell private versions of Medicaid are under pressure because of the expectation that the Trump administration will pull back on funding. As a result, Centene , HCA Healthcare , and Molina Healthcare are down more than -2%.

Exact Sciences is down more than -26% after reporting Q3 revenue of $708.1 million, below the consensus of $716.9 million, and cutting its full-year revenue forecast to $2.73 billion-$2.75 billion from a previous forecast of $2.81 billion-$2.85 billion, weaker than the consensus of $2.83 billion.

Coupang is down more than -13% after reporting Q3 retail net sales of $6.14 billion, below the consensus of $6.24 billion.

Five Below is down more than -9% after Bank of America Global Research downgraded the stock to underperform from neutral with a price target of $75.

Cboe Global Markets is down more than -3% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $199.

Earnings Reports (11/6/2024)

Albemarle Corp (ALB), Ameren Corp (AEE), American Electric Power Co Inc (AEP), ANSYS Inc (ANSS), APA Corp (APA), Atmos Energy Corp (ATO), Cencora Inc (COR), Charles River Laboratories Int (CRL), Corteva Inc (CTVA), CVS Health Corp (CVS), Fair Isaac Corp (FICO), Gilead Sciences Inc (GILD), Host Hotels & Resorts Inc (HST), Howmet Aerospace Inc (HWM), Iron Mountain Inc (IRM), Johnson Controls International (JCI), Marathon Oil Corp (MRO), MarketAxess Holdings Inc (MKTX), Match Group Inc (MTCH), McKesson Corp (MCK), Pinnacle West Capital Corp (PNW), PTC Inc (PTC), QUALCOMM Inc (QCOM), Sempra (SRE), STERIS PLC (STE), Take-Two Interactive Software (TTWO), Trimble Inc (TRMB), Williams Cos Inc/The (WMB).

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 Policyhere.