Fed maintains interest rates, spurring positive market sentiment; Qualcomm and Mondelez beat Q4 expectations By Investing.com

<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="Fed maintains interest rates, spurring positive market sentiment; Qualcomm and Mondelez beat Q4 expectations" id="carouselImage" src="https://i-invdn-com.investing.com/news/LYNXNPEC0D0KJ_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. </span><br />
<i class="imgGrad"/>
</div>
<p>The Federal Reserve’s decision to maintain the interest rates at 5.25-5.50% has spurred a positive sentiment in the markets, causing speculation that the anticipated year-end rate hike might not take place. The index, despite showing a -4.66% dip year-to-date, gained +0.40% on Thursday. Other indices including the Dow, S&amp;P, and Nasdaq also posted gains with the Nasdaq leading at +1.64%, buoyed by tech firms such as AMD (NASDAQ:).</p>
<p>In the realm of corporate earnings, Qualcomm (NASDAQ:) beat Q4 expectations with earnings of $2.02 per share and revenues of $8.67 billion, surpassing the projected $8.55 billion. A significant +15% surge in its automotive business led to a +3.5% rise in after-market shares. Consequently, the company adjusted its guidance to $2.25-2.45 per share.</p>
<p>Airbnb’s Q3 earnings report showed significant earnings of $6.63 per share due to a one-time income tax benefit and revenues of $3.40 billion. However, shares fell -3.7% following lower than expected Q4 revenue guidance.</p>
<p>e.l.f Beauty also surpassed estimates with revenues of $215.5 million, which resulted in its stock climbing nearly +6%. The current-year EPS estimates for the company rose to earnings of $2.47-2.50 per share.</p>
<p>PayPal (NASDAQ:) beat Q3 estimates with sales of $7.4 billion, slightly above the expected $7.39 billion, leading to a +1.6% rise in shares and forecasting a +4.8% increase in holiday sales, with full-year earnings guided up to $4.98 per share.</p>
<p>Mondelez (NASDAQ:) outperformed Q3 expectations with earnings of 82 cents per share and revenues of $9.03 billion, resulting in a +3.25% boost in shares. This marks a consistent trend for the company, which has only missed earnings once in the past 5 years.</p>
<p>On the other hand, Etsy (NASDAQ:)’s Q3 report showed earnings of 64 cents per share beating expectations, but its $636.3 million sales fell short, leading to a more than -50% year-to-date drop and -3% after-market fall in shares. The CEO described the situation as an “incredibly challenging environment”.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/fed-maintains-interest-rates-spurring-positive-market-sentiment-qualcomm-and-mondelez-beat-q4-expectations-93CH-3218102">Source link </a></p><p>The post <a href="https://forextraderhub.com/fed-maintains-interest-rates-spurring-positive-market-sentiment-qualcomm-and-mondelez-beat-q4-expectations-by-investing-com.html">Fed maintains interest rates, spurring positive market sentiment; Qualcomm and Mondelez beat Q4 expectations By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>