October is traditionally a volatile month for stocks. Although stock markets did not perform like they usually do in September, this time is different.
In Tuesday’s trade, KLA Corp. (KLAC) lost 14.7% after ASML (ASML) posted weak results. The Biden-Harris government may impose more export caps on Middle East countries. Lam Research (LRCX) lost 10.9% on the day. KLAC and LRCX shares may disappoint investors again today.
Winners
In the discount trading segment, Charles Schwab (SCHW) gained 6.1%. Chances are good that the stock will rise again today. In Q3, the firm reported a Q3 non-GAAP EPS of $0.77. Revenue increased by 5.2% Y/Y to $4.85 billion. Schwab has multiple growth catalysts. It benefited from lower liability funding costs, which increased its net interest margin in the quarter. This will increase again in Q4.
The company will increase its processing fee rates, which will lower its adjusted expense rate to a 2% growth rate Y/Y.
Carnival Cruise (CCL), which opens at a 52-week high, has strong growth prospects and stock momentum. Markets are not concerned about its $26.66 billion in long-term debt. Still, this is down from a peak of $31.9 billion in debt in 2022.
Walgreens (WBA) enjoyed a relief rally yesterday. The retail pharmacy will close 1,200 stores. It also projected FY 2025 sales of up to $151 billion.
