Important points
- On Friday, October 31, 2025, Amazon benefited from a strong performance in its cloud computing division, while medical device firms struggled due to a disappointing sales forecast.
- The tech giant’s stock hit an all-time high, spurred by better-than-expected results from its Web Services sector.
- Conversely, Dexcom’s share price plummeted after the company provided a cautious earnings outlook for the future.
On the last day of October, major e-commerce and cloud computing stocks saw significant gains, in contrast to a medical device maker that faced challenges following a dismal sales prediction for 2026.
U.S. stock indexes closed higher on Friday, wrapping up a week marked by a Federal Reserve interest rate cut and a trade truce between the U.S. and China. The Dow increased by 0.1%, the S&P 500 went up 0.3%, and the Nasdaq climbed 0.6%. All three indexes reported weekly and monthly gains.
Amazon (AMZN) shares jumped nearly 10% to a record closing price after the company announced stronger-than-anticipated profits for the third quarter. The growth in its Amazon Web Services segment was a key factor driving this performance. CEO Andy Jassy also emphasized plans to enhance the company’s capabilities in AI, capitalizing on the rising demand for AI infrastructure.
First Solar (FSLR) saw its stock rise over 14%, making it the leading performer in the S&P 500 on Friday. Although its third-quarter earnings were below expectations, the company exceeded sales forecasts thanks to high demand from U.S. solar project developers. Additionally, First Solar revealed plans for a new manufacturing facility in the U.S., projected to have an annual capacity of 3.7 gigawatts.
Coinbase Global (COIN), which is the largest cryptocurrency exchange in the U.S., surpassed expectations for both revenue and profits this quarter. The rise in trading volumes among retail and institutional investors was fueled by a positive U.S. regulatory outlook for digital assets. CEO Brian Armstrong noted the company’s move into prediction markets and tokenized assets as part of the “Everything Exchange” strategy. Coinbase’s stock climbed nearly 5%.
In contrast, DexCom (DXCM) experienced a nearly 15% drop, marking the most significant loss in the S&P 500 for the day. The company exceeded sales and profit expectations for the third quarter. However, management cautioned that revenue growth in 2026 might fall short of projections, addressing concerns about the G7 glucose monitor amid reports of quality issues. They reassured stakeholders that the product issues were resolved earlier this year and highlighted improvements to their customer service platform.
Moreover, Erie Indemnity (ERIE) shares decreased by 5.5% after the insurance management firm reported mixed results for the third quarter. Although earnings per share surpassed expectations, revenue fell short. Erie executives cited challenges in recent years, including escalating underwriting losses linked to severe weather impacting auto and homeowners insurance.
