Copyright The Street
The first trading day of November began on an upbeat note but ended with a mixed finish, thanks to news on SNAP aid and the S&P 500 rallying after exceeding earnings reports in various sectors. The S&P 500 was up 0.2%, led by gains from numerous deals from Amazon. The tech-heavy Nasdaq Composite was up 0.5%, led by Micron and Idexx Laboratories. The Dow Jones Industrial Average, however, slipped in the later hours of trading, down 0.5%, along with the Russell 2000, down 0.3%. As the government shutdown continues to extend, edging closer to becoming the longest in American history, the Trump administration has agreed to pay 50% of the SNAP allotment, a program that provides food stamps to more than 40 million low-income American families. The market had mixed feelings about the drag, fueled mainly by advances and expansions in the field of artificial intelligence. Multiple deals with Amazon’s (AMZN) AWS were announced, which led to an overall bullish market. A major corporate takeover was announced today between Kimberly-Clark and the maker of Tylenol, Kenvue, valued at $48.7 billion. Gold is back to gaining, although only slightly up at 0.4% today, but it remained above the $4000 mark. The US 10-year Treasury is now also back up to its usual 4% mark, signaling investor confidence in economic growth. Among notable stock movers today were Idexx Laboratories, whose stock recorded a 14.8% gain after earnings release. Amazon and Cipher gave each other a positive push, up 9.8% and 21.9% respectively. Here are the most active stocks today Five S&P 500 stocks making big moves today are: IDEXX Laboratories: +14.8% Kenvue Inc: +12.3% Incyte Corp: +8.7% Expand Energy Corp: +6.6% Cigna Group: +5.8% The worst-performing five S&P 500 stocks today are: Kimberly-Clark Corp: -14.6% Moderna Inc: -8.3% Charter Communications: -4.9% DoorDash Inc: -4.8% LKQ Corp: -4.8% Stocks also worth noting include: Beyond Meat: -16.4% Nvidia: +2.2% Palantir: +3.4% Alphabet A: +0.9% Tesla: +2.6%. Pet diagnostics company emerges winner Idexx Laboratories (IDXX), a global leader in pet healthcare diagnostics and veterinary technology, announced its Q3 2025 results on November 3. More Tech Stocks: As Palantir rolls on, rivals are worth a second look Nvidia’s next big thing could be flying cars Cathie Wood sells $21.4 million of surging AI stocks Here are the key takeaways from IDEXX Q3 earnings: Revenue, up 13% at $1.105 billion EPS reported at $3.40, representing a 21% year-over-year increase. Operating margin up 32% yoy. The stock of the US-based pet software and services company surged 14.8% today after its strong earnings report, marking a 74% year-to-date rally. Idexx reported a 14% increase in revenue, driven by growth in the Companion Animal Group (CAG) and Livestock, Poultry, and Dairy (LPD) segments of 14% and 17%, respectively. Jay Mazelsky, President and CEO of IDEXX, attributed its progress and strong global customer adoption to innovation and strong execution. This robust performance, resilient pricing, and execution strength led analysts to increase their price targets. Bank of America increased its price target to $790 from $700, maintaining a Neutral rating, citing the Q3 as a “clean, straightforward beat with nothing to nit-pick,” as noted at TheFly. Leerink increased its price target to $785 from $745, maintaining an Outperform rating, noting that the quarterly report was impressive, with strong organic growth that underscores the size of the current diagnostic market opportunity, as reported by TheFly. AWS and OpenAI enter new deal Following Amazon’s announcement of a 20% increase in its AWS division during the company’s Q3 earnings on Oct 30, its stock experienced a significant surge, with analysts optimistic about the future potential of AWS growth. And today, November 3, AWS stock jumped 9.8% intraday after the company announced a $38 billion, seven-year cloud computing partnership with OpenAI, impacting not just its own stock but also influencing related stocks, such as those of Cipher. The deal positions AWS as a central infrastructure backbone for OpenAI’s next wave of model development. Wedbush raised its price target to $340 from $330, keeping an Outperform rating after the strategic deal. Analysts note that this deal builds on Amazon’s existing partnership with Anthropic, serving as its primary cloud provider, and “is a continued move in the right direction for Amazon, as noted at TheFly. Bitcoin Miner Cipher strikes deal with AWS The shares of a pure-play Bitcoin mining firm, Cipher, soared 21.9% on Monday after it announced its Q3 2025 earnings, recording a new 52-week high. The release also expanded on a highly beneficial deal with a cloud computing giant. The bitcoin miner, which recorded a 390% year-to-date stock gain, announced a $5.5 billion, 15-year data center campus lease with Amazon Web Services. Cipher will deliver 300 MW of capacity in 2026. The deal marks a milestone that shifts Cipher into the AI-compute infrastructure space. Here are the highlights of Cipher’s Q3 earnings: Revenue of $71.7 million, a 197% increase year over year Net loss of $3.3 million, reduced from the $86.8 million loss a year ago. Cash and cash equivalents of $1.2 billion. Adjusted EPS of $0.10 per diluted share. In addition to the AWS deal, Cipher also executed “a pivotal transaction with Fluidstack and Google,” a 10-year AI hosting agreement which firmly establishes its credibility in the HPC space. H.C. Wainwright raised its price target on Cipher to $30 from $25 after the AWS deal, maintaining a Buy rating, citing the deal’s pricing and profitability as key drivers.
