Microsoft and Meta, Eli Lilly, US GDP in Q3

Today's Morning Brief starts with a discussion of the newly reported US GDP data for the third quarter, which showed the economy grow by an annualized rate of 2.8%. The program then covers a range of trending tickers, offering updates on companies such as Volkswagen (VOW3.DE), Visa (V), Eli Lilly (LLY), Kraft Heinz (KHC), Snap (SNAP), and Reddit (RDDT).

Takeaways:

• Google-parent Alphabet (GOOG, GOOGL) and chip giant Advanced Micro Devices (AMD) both reported their respective earnings results after Tuesday's market close. The Big Tech earnings train continues with Magnificent Seven members Microsoft (MSFT) and Meta Platforms (META) to come out with results after the bell today.
• Eli Lilly (LLY) shares tumble in pre-market trading after missing third quarter earnings estimates and cutting its guidance as sales of GLP-1 weight-loss drugs fall short of Wall Street expectations.
• Initial readings on US GDP (gross domestic product) see expansions of 2.8% in the third quarter, just shy of economist estimates for a 2.9% quarter-over-quarter rise.

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Yahoo Finance's Morning Brief is hosted by Seana Smith and Brad Smith.

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