Amazon experienced a notable decline of over seven percent in its shares following the release of its quarterly earnings, which failed to meet analyst forecasts. The tech giant reported a total revenue of $201.9 billion, revealing struggles across multiple sectors. Nonetheless, the growth of its AWS cloud division stood out as a silver lining.

Chip stocks, particularly those affected by Intel's earnings, faced significant declines following the report's release. Intel attributed its downturn to challenges in the PC industry and a recent factory explosion. Other major chipmakers like AMD and Broadcom also experienced declines in after-hours trading. Concerns about the overall semiconductor industry were heightened after Alphabet's disappointing earnings. Despite these challenges, the semiconductor index has shown strong performance thr

Gold prices fell in early Asian trading, reflecting a decline of over 1% from the previous session. Spot gold is currently valued at $4,006.06 per ounce, while US gold futures have dipped to $4,018.50. Heightened inflation worries have raised fears of a potential interest rate hike by the Federal Reserve in December.

Intel's third-quarter adjusted earnings came in at 52 cents per share, beating expectations. Data center and AI revenue grew 78%. Revenue was slightly below expectations. Weak PC demand could persist into the first half of next year.

PN Vasudevan plans to resign as managing director of Equitas Small Finance Bank, over a perceived conflict of interest involving his daughter's NBFC. The bank's shares closed 12.4% lower. Its second-quarter net profit rose nearly 10-fold.

Alphabet's third-quarter free cash flow turned negative at $9.07 billion. Microsoft shares rose nearly 4%.

Pine Labs shares rose sharply on Thursday after the fintech company reported a 543% year-on-year jump in Q2 FY27 net profit to Rs 38.6 crore. Revenue rose 24% to Rs 806.2 crore, while EBITDA increased 67.3%. Growth in payments, UPI transactions and international markets supported performance as the company expands into AI-led commerce.

Michael Burry, who predicted the 2008 financial crisis, warned that Anthropic has committed to buying about $537 billion in computing power, roughly 12 times its annualized revenue. He cautioned that disappointing AI revenue could trigger a market correction.

City Union Bank shares rose sharply on Thursday after the lender reported a 27% year-on-year rise in Q2 FY27 net profit to Rs 416 crore. Net interest income grew 31%, while asset quality improved, with gross NPAs falling to 1.44%. Deposits and advances also recorded strong growth during the quarter.