S&P 500 and Nasdaq Composite jump to new record highs as Fed interest rate decision looms

Zillow Stock Rises After Earnings

19 minutes ago

Shares of Zillow Group (Z) rose more than 20% on Thursday morning after the real estate company posted strong third-quarter revenue gains and narrowed its losses.

Zillow reported third-quarter revenue of $581 million, up 17% from a year earlier and above the midpoint of the range the company had previously offered. Net loss for the three months ended September 30 narrowed to $20 million, compared with a loss of $28 million in the same period last year.

Sales in the period exceeded the broader residential real estate industry's 2 percent overall transaction value growth, the listing website said, citing the National Association of Realtors (NAR).

Zillow forecast fourth-quarter revenue in the range of $525 million to $540 million and maintained its forecast for double-digit revenue growth for the full year.

The company's shares have risen sharply since the company named a new CEO in early August and reported better-than-expected second-quarter results. Shares are now up around 24% since the start of the year.

–Nisha Gopalan

AppLovin Soars 50% on Strong Earnings and Outlook

1 hour and 18 minutes ago

Shares of AppLovin (APP) rose to a record high on Thursday morning after the software maker's third-quarter earnings and fourth-quarter outlook both beat expectations.

The company, which works with app makers to provide advertising and grow their user base, reported revenue of $1.2 billion, up nearly 40% from the same period last year and slightly better than analysts expected. Net income came in well above estimates at $434.42 million, while analysts had forecast $319.2 million.

For the fourth quarter, AppLovin forecast revenue of $1.24 billion to $1.26 billion, above the $1.17 billion analysts had expected in its earnings release late Wednesday.

AppLovin said its AI-powered advertising tools now account for nearly all of its software platform segment revenue. The company's monthly active payer (MAP), which counts every user who makes an in-app purchase during the quarter, fell to 1.6 billion users from 1.8 billion a year ago. However, Average revenue per MAP increased from $46 to $52.

AppLovin shares rose 47% in recent trading, pushing their year-to-date gains to over 500%.

–Aaron McDade

Tesla levels to watch after post-election surge

2 hours and 34 minutes ago

Tesla (TSLA) shares fell slightly this morning after rising on Wednesday as investors expected the electric vehicle maker could benefit from Donald Trump's return as president, as CEO Elon Musk is one of the former president's most prominent supporters was.

The stock, which hit a 15-month high yesterday, fell 0.4% to around $287.50 in recent premarket trading. The stock has more than doubled since its annual low in April.

The stock has been trading inside an ascending triangle, a bullish chart pattern that indicates a continuation of the uptrend that began in April.

Investors should keep an eye on the key overhead levels on the Tesla chart at around $300 and $350, while also keeping an eye on key support areas at $265 and $230.

Read the full technical analysis article here.

–Timothy Smith

Futures point to a higher opening in major indices

3 hours and 24 minutes ago

Futures tied to the Dow Jones Industrial Average rose 0.2%.

S&P 500 futures also rose 0.2%.

Nasdaq 100 futures rose 0.4%.