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See the companies making headlines before the bell. Elevance Health – Shares fell more than 10% after the health insurer reported weaker-than-expected third-quarter earnings. In a statement, CEO Gail Boudreaux said the company remains “confident” in the face of “unprecedented challenges in the Medicaid industry.” Healthcare stocks Molina Healthcare and Centene also fell nearly 9% and more than 7%, respectively. Taiwan Semiconductor – The stock jumped more than 8% after the company reported a 54% gain in third-quarter net income. Shares of chip giant Nvidia – one of TSMC’s customers – rose more than 3% in sympathy after quarterly results. Expedia – Shares jumped nearly 5% after the Financial Times reported, citing people familiar with the process, that Uber had explored a possible takeover bid for the online travel agency. According to Financial Times sources, Uber’s interest in Expedia was in its early stages. Uber shares fell more than 2%. Lucid Group – The stock fell 18% after the electric vehicle maker announced a public offering of nearly 262.5 million shares of its common stock. Lucid also said its majority shareholder, Ayar Third Investment, a subsidiary of the Saudi Arabian Public Investment Fund, would purchase more than 374.7 million common shares. Nokia – Shares fell more than 5% after the company reported an 8% drop in third-quarter sales, citing a slowdown in the Indian market. Nokia’s profit for the period, however, increased by 22%. Looking ahead, CEO Pekka Lundmark said in a statement that he expects full-year profit to be “in the lower half” of his forecast range. CSX – Transportation stock fell more than 4% following weaker-than-expected quarterly results from the company. For the third quarter, CSX posted earnings of 46 cents per share on revenue of $3.62 billion. That’s below the 48 cents per share and $3.67 billion in revenue analysts expected, according to LSEG. Alcoa – Shares rose nearly 7% following higher profits from the aluminum producer. Alcoa reported third-quarter adjusted earnings of 57 cents per share, compared with 28 cents per share expected by analysts surveyed by LSEG. However, revenue came in at $2.90 billion, below the consensus estimate of $2.97 billion. Kinder Morgan – Energy infrastructure stock fell 2.1% after third-quarter earnings beat analysts’ expectations. Kinder Morgan reported adjusted earnings per share of 25 cents on revenue of $3.70 billion. Analysts surveyed by LSEG forecast 27 cents per share and $3.98 billion, respectively. — CNBC’s Alex Harring and Michelle Fox Theobald contributed reporting.
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