Biggest stock movers Friday: AMZN, INTC, and more

Stock futures edged higher Friday morning as investors awaited pivotal U.S. monthly jobs data and next week’s presidential election, setting the tone for potential market shifts.

Here are some of Friday’s biggest stock movers:

Biggest stock gainers

• Amazon (AMZN) shares rose 6% following impressive Q3 results and strong guidance for the holiday season. The company posted a 9% increase in North American revenue to $95.5B, a 12% rise in international revenue to $35.9B, and a 19% jump in AWS revenue to $27.5B. Operating income surged 56% Y/Y to $17.4B, well above the consensus of $14.7B and the guidance range of $11.5B–$15.0B. For Q4, Amazon projected revenue between $181.5B and $188.5B (midpoint $185.0B) and operating income between $16.0B and $20.0B, surpassing the $17.5B consensus.
• Intel (INTC) shares soared 7% after the chipmaker exceeded Q3 top-line estimates and showed progress on its $10B cost-cutting plan. The semiconductor giant reported a $2.8B restructuring charge, with $528M in non-cash and $2.2B cash-settled in the future. For Q4, Intel guided revenue between $13.3B and $14.3B (midpoint $13.8B, above consensus of $13.66B) and projected adjusted EPS of $0.12, beating analysts’ $0.08 estimate, with adjusted gross margins of 39.5%.
• Atlassian (TEAM) shares surged more than 20% after the company exceeded FQ1 estimates and provided an upbeat outlook. For FQ2, the software firm forecasts revenue between $1.23B and $1.24B (midpoint $1.235B), slightly above the $1.23B estimate, and for FY2025, revenue is anticipated to grow by 16.5% to 17%. Additionally, the board approved a $1.5B share buyback in September, further boosting market sentiment.

Biggest stock losers

• BJ Restaurants (BJRI) shares plummeted over 6% as higher operating costs, including increased wages and benefits, led the company to a Q3 loss after posting a profit of $0.72 in the prior quarter. Despite a 1.7% rise in comparable restaurant sales, interim CEO Brad Richmond noted that strong traffic growth was offset by higher restaurant costs, resulting in only a modest increase in dollar margins, but a lower percentage margin compared to last year. Total revenue grew 2.2% to $325.7M, slightly above estimates, but rising costs drove a 5% increase in cost of sales, reducing net income by 23% to a $2.93M loss.