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Lumentum surged nearly 10% while Corning gained just 0.4%, signaling that investors are distinguishing between different optical networking companies in the AI infrastructure buildout rather than treating them uniformly.
General Motors reported a 5.5% year-over-year sales decline in the third quarter, while Toyota gained ground with strong hybrid and EV performance, narrowing the sales gap between the two automakers.
Zscaler beat fourth-quarter earnings expectations and issued upbeat forward guidance, but its stock fell Friday as investors weighed the results against earlier management concerns.
U.S. stocks fell sharply on Wednesday as a strong economic report fueled inflation concerns and Treasury yields climbed, with the S&P 500 dropping 0.8%.
Darden Restaurants reported quarterly earnings and revenue that missed analyst expectations as same-store sales growth at Olive Garden slowed, causing shares to fall about 2% in morning trading.
Barry Diller’s People Inc. withdrew its $48.30-per-share takeover proposal for MGM Resorts, citing deal complexity. MGM shares fell approximately 11% on the announcement.
