Shares of Meta Drop on Forecasts of Slowing Advertising, While Mattel Shares Lose Ground as a result of a Warning

Let's delve into the notable market movements of the day:

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Winners in the Stock Market:

• Endeavor Group Holdings Inc. (Ticker: EDR) experienced a remarkable surge of over 21% in pre-market trading. This spike was triggered by the announcement from private-equity heavyweight Silver Lake, which revealed its consideration of a plan to take the sports and entertainment conglomerate private. Endeavor had recently declared its pursuit of strategic alternatives, as it felt that investors were not accurately valuing the company.

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• Ford Motor Co. (Ticker: F) saw its stock rise by more than 2%. This upward movement was attributed to the United Auto Workers' announcement of a successful pay agreement with the automaker. Ford was also scheduled to release its financial results after the market's closing bell.

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• IBM (Ticker: IBM) registered a 1.8% increase in its stock value. This gain came on the heels of the technology giant's results surpassing the expectations of financial analysts.

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• ServiceNow Inc. (Ticker: NOW) exhibited a substantial gain of more than 5% after a strong quarter characterized by impressive subscription sales.

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• Imax Corp. (Ticker: IMAX) observed a 1.9% rise in its pre-market stock trading. This increase followed the high-end movie theater operator's release of third-quarter results that outperformed both top and bottom line estimates, as evaluated by analysts.

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Losers in the Stock Market:

• Meta Platforms Inc. (Ticker: META) experienced a decline of 2.7% in pre-market trading. This drop was attributed to the firm's Chief Financial Officer warning of a slowdown in advertising revenues anticipated for the fourth quarter. This news followed Meta's third-quarter results, which surpassed analysts' expectations, revealing an uptick in digital advertising revenue.

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• Arista Networks Inc. (Ticker: ANET) faced a reduction of approximately 4% in its stock value. Additionally, Nvidia Corp. (Ticker: NVDA) saw a decrease of 0.4%. These downturns were a direct response to Meta's release of a capital-spending outlook for the upcoming year that was lower than what financial analysts had previously projected.

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• Mattel Inc. (Ticker: MAT) witnessed a significant drop of more than 12%, despite surpassing the expectations of financial analysts in its third-quarter results. The decline was attributed to concerns over decreased demand expected during the holiday season.

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• Whirlpool Corp. (Ticker: WHR) reported a decrease of more than 4% in its pre-market stock trading. The appliances manufacturer had exceeded the Wall Street expectations for its third quarter but adjusted its per-share earnings guidance for the year, which prompted the market's reaction.

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• Align Technology Inc. (Ticker: ALGN) faced a substantial decline of more than 22% following the release of quarterly earnings that failed to meet the expectations of analysts. The orthodontics company, known for Invisalign, encountered a significant setback in the market as a result.

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