Microsoft & Meta earnings put AI spending in focus, Uber slips: Yahoo Finance

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Big tech earnings are weighing on the major indexes. “Magnificent Seven” members Microsoft (MSFT) and Meta Platforms (META) both posted better-than-expected quarterly earnings, but the amount these companies are spending on building out their AI offerings has some investors jittery. One stock that is falling in early trading is Uber Technologies (UBER). Its third quarter revenue topped Wall Street expectations but gross bookings fell short. Wall Street is also eyeing the September Personal Consumption Expenditures Price Index report for clues as to what the Federal Reserve’s next move may be. Trending tickers on Yahoo Finance include Super Micro Computer (SMCI), Palantir Technologies (PLTR), and Carvana (CVNA). Key guests include:9:05 a.m. ET – Brent Bracelin, Piper Sandler Equity Research Analyst9:40 a.m. ET – Rohit Kulkarni, Roth Capital Partners Managing Director10:05 a.m. ET – Thomas Simons, Jefferies Senior U.S. Economist10:35 a.m. ET – Rob Lynch, Shake Shack CEO10:40 a.m. ET – Richard Gelfond, IMAX CEO11:10 a.m. ET – Daniel Schreiber, Lemonade CEO