Stocks are trading lower the morning after the Federal Reserve’s decision to hold rates steady at its September meeting.
KB Home (KBH) shares dip in the early trading session despite the company’s third-quarter earnings beating estimates and raising its full-year outlook.
CrowdStrike (CRWD) shares are trading in the green after the company announced it is raising its subscription gross margins target while increasing its operating margin target.
Yahoo Finance’s Brad Smith and Seana Smith take a look at some of the trending stocks of the day. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
BRAD SMITH: First and foremost, stocks extend their losses after the Fed decided to hold rates steady at yesterday's meeting. The FOMC remains hawkish signaling another hike before the end of the year here.
SEANA SMITH: And looking at individual names, we can see KB Homes under pressure today despite reporting better than expected fiscal third quarter earnings and raising its full-year revenue forecast. Now, the home builder did see homes delivered and the average selling price fall in the quarter while expenses rose.
BRAD SMITH: And shares of Marvell, they are rising today as reports suggest that the chip designer could replace Broadcom as the key supplier to Google for AI chips. The tech giant plans on designing these advanced chips in-house. This comes after a months-long standoff between Google and Broadcom over chip prices, which could allow Marvell to step in.
SEANA SMITH: And we're also watching cybersecurity company CrowdStrike and you can see moving to the upside here in early trading. Now, this coming after the company announced at a cyber conference briefing that it's raising its target for subscription gross margins by 400 basis points, also boosting its operating margin target from 27% to 32%. The company saying that they will expect to meet those targets in three to five years.