US stocks continued to trade higher in early sessions today as investors processed key corporate earnings results and the latest data on jobless claims. A number of major companies reported their third-quarter earnings, creating notable movement across sectors.

Tesla Shares Surge on Strong Earnings

Tesla led the charge, with its stock surging nearly 13%. The electric vehicle maker exceeded expectations in its third-quarter earnings, fueling investor optimism. CEO Elon Musk announced that Tesla expects vehicle production growth of 20% to 30% next year, driving further excitement around the company’s future prospects.

UPS Delivers Earnings Beat

United Parcel Service (UPS) also saw significant gains, rising more than 7% after beating both earnings and revenue expectations for the third quarter. The parcel delivery giant posted earnings of $1.76 per share on $22.25 billion in revenue, outperforming analysts’ forecasts of $1.63 per share and $22.14 billion in revenue. UPS’s strong results were a positive indicator for the logistics sector.

Lam Research Boosts Semiconductor Sector

Lam Research, a major player in semiconductor equipment, jumped over 6% after reporting better-than-expected earnings. The company earned 86 cents per share on $4.16 billion in revenue, surpassing Wall Street estimates of 80 cents per share and $4.05 billion in revenue. This performance boosted confidence in the broader semiconductor industry, which has been a focus for investors amid global supply chain disruptions.

Disappointment for Newmont

On the downside, Newmont shares fell over 4% after the mining company posted weaker-than-expected earnings. Despite earning 81 cents per share on $4.61 billion in revenue, the results fell short of analyst expectations of 86 cents per share and $4.67 billion in revenue. The disappointing performance weighed on the stock, contributing to broader concerns about the health of the mining industry.

T-Mobile Tops Expectations

T-Mobile gained more than 2% after the company’s third-quarter results exceeded Wall Street’s forecasts. The wireless carrier reported earnings of $2.61 per share on revenue of $20.16 billion, beating analysts’ expectations of $2.43 per share and $20.01 billion in revenue. T-Mobile’s solid performance reflected continued strength in the telecommunications sector.

Boeing Declines Amid Labor Disputes

Boeing shares dropped 3.7% after a labor dispute extended a machinist strike for a fifth week. The aerospace company is facing pressure as negotiations with the union continue, adding uncertainty to its production timeline and causing concern among investors.

Mattel Gains Despite Mixed Results

Toymaker Mattel saw a 2.1% rise in its stock, despite posting mixed earnings for the quarter. While the company beat earnings expectations with $1.14 per share (vs. the expected 95 cents), its revenue of $1.84 billion fell just short of Wall Street’s forecast of $1.86 billion. Investors appeared to focus on the earnings beat, lifting the stock higher.

Honeywell Misses Revenue Expectations

Honeywell fell around 2% after missing revenue estimates for the third quarter. The industrial conglomerate posted $9.73 billion in revenue, below the expected $9.91 billion, although its earnings came in better than expected. Investors appeared cautious despite the stronger earnings.

Defense Stocks Rise, Airlines Mixed

Northrop Grumman saw a 1% increase after posting $7 in earnings per share, exceeding the $6.07 per share anticipated by analysts. However, its $10 billion in revenue fell short of the $10.18 billion expected.

Meanwhile, Southwest Airlines gained 1% after beating earnings expectations with 15 cents per share, while American Airlines dropped over 3%, despite topping third-quarter expectations. American raised its full-year outlook, but investors seemed concerned about the broader industry challenges.

IBM and Whirlpool

IBM fell over 3% after the company missed its revenue target, reporting $14.97 billion, below analysts’ expectations of $15.06 billion. In contrast, Whirlpool rose 4% as the home appliance company exceeded expectations with $3.43 per share in earnings, compared to the $3.20 per share forecast.

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Today’s early trading session reflected the impact of third-quarter earnings across multiple sectors. While companies like Tesla, UPS, and Lam Research posted solid gains, others like Newmont, Boeing, and IBM struggled amid weaker-than-expected results. Investors will continue to keep a close eye on upcoming earnings reports and macroeconomic data to gauge market direction.