Grab Holdings Jumps 9% on Q3 Revenue Beat (4 Nov)

US markets face midterm elections and geopolitical uncertainty

US stock futures remained cautious on November 3, 2026, as investors evaluated tech earnings, political uncertainty, and geopolitical risks. Nasdaq 100 futures rose 21 points, or 0.1%.

These elections are expected to influence the future direction of economic and technology policy.

Crude oil prices rose on November 3, 2026, following reports that US forces struck Iran’s Qeshm Island. This development renewed concerns about energy supply disruptions through the Strait of Hormuz, which is currently impacting energy prices.

Tech sector earnings face increased scrutiny

Apple reported fiscal fourth-quarter revenue of $114.5 billion and earnings per share of $2.10, a 14% increase from the previous year. Both figures exceeded Wall Street expectations, though Jefferies observed signs of softer demand for the latest high-end iPhone 18 models based on resale pricing data.

Apple forecast gross margins of 45% to 46% for the current quarter, missing the 47% expectation due to rising memory chip costs.

Palantir Technologies reported third-quarter revenue of $2.31 billion, a 96% year-on-year increase, and earnings per share of $0.44. Both results exceeded market expectations.

Palantir’s total contract value growth slowed to 6% in the third quarter, down from 49% in the second quarter. The Nasdaq Composite fell 1.07% on Monday as investors questioned the sustainability of debt and equity-financed investments in artificial intelligence infrastructure. These earnings reports have led to increased scrutiny regarding the profitability of technology companies and the sustainability of spending on artificial intelligence.

ADM reports strong Q3 earnings and raises guidance

The company recorded earnings of $1.70 per share for the quarter, rising from 22 cents per share in the same period last year. Net earnings attributable to the company reached $821 million, compared to $108 million in the year-ago quarter.

Total segment operating profit increased 64 percent to $1.38 billion.

Ag Services and Oilseeds revenue grew 11.7 percent to $17.45 billion, and Carbohydrate Solutions revenue rose 7.5 percent to $2.94 billion. Nutrition revenue declined 4.1 percent to $1.84 billion, while Other Business revenue increased 5.5 percent to $115 million. The company raised its 2026 adjusted earnings guidance to a range of $5.50 to $5.80 per share, up from its previous range of $5.15 to $5.60. Archer Daniels Midland also lowered its projected 2026 capital expenditures to between $1.2 billion and $1.3 billion, down from the previous range of $1.3 billion to $1.5 billion.

As of the end of September 2026, the company held $711 million in cash and cash equivalents, $7.58 billion in long-term debt, and $23.86 billion in shareholders' equity. Shares have lost 4.3 percent over the past six months, outperforming the 24.7 percent decline seen across the industry, and the company currently holds a Zacks Rank #2, or Buy.

These results contrast with the recent performance of Grab Holdings, which reported $872 million in revenue, $428 million in gross profit, $110 million in EBITDA, and $53 million in EBIT during the third quarter of 2025. By the first quarter of 2026, Grab Holdings reported $955 million in revenue, $469 million in gross profit, $125 million in EBITDA, $166 million in EBIT, and $120 million in net income.

Solar stocks rebound amid sector volatility

Solar stocks rebounded for a second consecutive session on Nov. 3, as the 10-year Treasury yield hit its lowest reading of October on Oct. 30. Enphase Energy shares rose 9% to $30.49. Enphase reported its third-quarter revenue fell 28.5% year over year to $293.3 million. The company guided fourth-quarter revenue to a midpoint of $240 million and expects global sell-through to decline 10% sequentially.

Enphase CEO Badrinarayanan Kothandaraman said, "We are not seeing any meaningful recovery in U.S. demand".

Sunrun shares increased 7% to $8.84, though the stock remains down 52% year to date. Sunrun subscriber additions fell 31% year over year in the second quarter of 2026. The company announced its Puerto Rico distributed power plant doubled to more than 60,000 customers. Sunrun CEO Mary Powell stated that Puerto Rico "has become a vital blueprint for the U.S. mainland" regarding AI data center demand and severe weather. Sunrun is scheduled to report third-quarter 2026 results on Nov. 4, following a second quarter that featured a 74% storage attachment rate.

SolarEdge stock rose 6% to $32.12 and is up 11% year to date. The company returned to adjusted operating profitability in the second quarter of 2026 for the first time since the second quarter of 2023.

Liquidmetal Technologies intellectual property status

Apple secured a perpetual, fully paid-up license for Liquidmetal Technologies' intellectual property in a 2010 agreement. Liquidmetal Technologies does not possess the industrial manufacturing capabilities required to produce precision-engineered smartphone hinges.