Stock Movers Closing Bell: Avis Budget Meets Estimates, Qualcomm Higher, Cadence Design Lower
Oct 27, 2025
Avis Budget surprised investors with strong Q3 results, resulting in a 10% share spike. Qualcomm's new chips for AI data centers earned it a boost, as shares hit their highest since July 2024. Meanwhile, Cadence Design faced a 4% drop despite beating revenue estimates. Keurig Dr Pepper's $7 billion financing for a major deal was another highlight, along with M&A news about First Citizens and Park National. Plus, Whirlpool posted solid results alongside an upbeat outlook.
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Broad Market Breadth Signals Risk-On
- Market breadth was strong with 322 S&P 500 names higher and nine sectors in the green, indicating broad risk-on sentiment.
- Weakness in materials and consumer staples hinted at optimism over U.S.-China trade talks driving the rally.
Qualcomm Targets AI Data Center Market
- Qualcomm unveiled chips and computers targeting AI data centers, signaling a direct challenge to Nvidia in the fastest-growing market segment.
- The announcement drove Qualcomm shares up ~11% at the close and as much as ~22% intraday, showing investor excitement.
Cadence Beats But Shares Fall
- Cadence beat EPS and revenue expectations, showing 10% revenue growth and expanded operating margins to ~47.6%.
- Despite those beats, shares fell in after-hours trading, suggesting investor concerns beyond headline numbers.