Half-Day Market Update: Avis Budget After Third Quarter Results; Chegg’s Stock Crash

Midway through Tuesday’s session, the Dow Jones rose 0. 23% to 35,997. 66 while the NASDAQ rose 0. 34% to 15,649. 41.

The United States has the number of coronavirus cases and deaths in the world, reporting a total of 46,931,280 cases with an estimated 767,430 deaths. India has shown a total of at least 34,285,810 cases and 458,470 deaths, while Brazil has reported more than 21,814,690 cases of COVID-19 with 607,950 deaths Overall, there have been at least 247,964,840 cases of international COVID-19 with more than 5,023,030 deaths, according to knowledge compiled through Johns Hopkins University.

Pfizer reported adjusted earnings of $1. 34 consistent with a consistent percentage in the third quarter, beating analysts’ estimates of $1. 09 consistent with a consistent percentage. The company’s quarterly sales were $24. 10 billion, with expectations of $22. 71 billion.

Pfizer said it now expects adjusted earnings of $4. 13 to $4. 18 for fiscal 21, to an earlier forecast of $3. 95 to $4. 05. The company also raised its sales forecast from $78 billion to $80 billion to $81 billion to $82 billion. 19 vaccine profit expectations from $2. 5 billion to approximately $36 billion.

Discover the drivers of the day

Shares of Chegg, Inc. (NYSE: CHGG) fell 46% to $34. 19 after the company reported lower-than-expected sales effects in the third quarter and posted a lower-than-estimated sales direction for the fourth and fiscal 21s. it also downgraded the stock’s rating.

European actions were combined today. The eurozone’s STOXX 600 rose 0. 05%, Spain’s Ibex index fell 0. 72% and Germany’s DAX 30 rose 0. 81%, while London’s FTSE 100 fell 0. 37%, France’s CAC 40 rose 0. 33% and Italy’s FTSE MIB fell 0. 09%.

The IHS Markit Eurozone manufacturing PMI fell to 58. 3 in October from an initial reading of 58. 5 The IHS Markit Spain manufacturing PMI fell to 57. 4 in October, recording the lowest point since March, while the German manufacturing PMI revised down to 57. 8 in October from a starting point of 58. 2. The Italian production PMI rose to 61. 1 in October, reaching its highest point since June, while the French production PMI fell to 53. 6 in October.

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