Stock Market Today Live, October 29: Nasdaq Falls as Alphabet Drops; Eli Lilly Lifts Health Stocks to a Record
The Nasdaq is falling on Thursday as Alphabet drops after a quarter in which it spent more cash than its businesses brought in. Health stocks reached a record on Eli Lilly’s results. The Nasdaq Composite was down 1% at 11:37 a.m. ET, CNBC reported, and Alphabet was 11.66% lower at 12:01 p.m. ET, StockTitan data show.
The short answer. Alphabet’s slide after a costly quarter reaches anyone who owns a fund tracking the big US indexes, because it is still worth about $3.5 trillion by our calculation. Eli Lilly’s raised forecast lifted health stocks to an all-time high, and the economy grew faster in the third quarter while prices kept rising in September. By our count, 23 of the 30 companies on StockTitan’s noon movers board had a release of their own since Wednesday’s close.
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12:06 p.m. ET
The Nasdaq slips with Alphabet as health stocks climb to a record
The open kept Alphabet at the center of the day, with the stock and the Nasdaq both lower. The Nasdaq Composite was down 1% at 11:37 a.m. ET, with the S&P 500 and the Dow slightly lower, CNBC reported, as company results weighed on stocks. Alphabet traded 11.66% lower in the regular session at 12:01 p.m. ET, StockTitan data show. CNBC also reported that Microsoft gave up its early gain and that Caterpillar fell even though its results beat the forecasts of analysts polled by LSEG.
Company news lifted health care and brought two takeover deals. Eli Lilly’s third-quarter revenue grew 39% to $24.4 billion, and it raised its full-year revenue forecast (release). CNBC said the health care sector of the S&P 500 hit an all-time high. DoorDash agreed to acquire Instacart for $65.00 a share, mostly in cash (release), and Thrive Holdings agreed to acquire ADT for cash (release).
Morning data showed the economy grew at a 3.4% annual rate in the third quarter, up from 2.2% in the second (BEA GDP release). Prices rose 3.6% in the year to September by the PCE price index, a broad US measure of what consumers pay (BEA income and spending release). CNBC said the pace of price increases sped up in September.
6:45 a.m. ET
Alphabet’s spending pulls Nasdaq futures lower as the Dow points up
The morning comes down to two tech giants that reported on Wednesday and got opposite answers from investors. Reuters reported that Nasdaq futures fell about 1% as Alphabet’s results “reignited concerns over mounting AI costs,” while Dow futures rose.
Alphabet said revenue from Google Search grew 12% from a year earlier, slower than in the quarter before, while Google Cloud revenue more than doubled. Its free cash flow was a negative $9.1 billion by Alphabet’s own measure. That means its spending on property and equipment took more cash than its businesses brought in (Alphabet’s results release; our Alphabet earnings article). It was the second quarter in a row below zero.
Microsoft went the other way. Reuters said it rose after what it called “a big cash-flow beat” and a forecast of strong cloud growth. By our calculation, its cash from operations exceeded its spending on property and equipment by $18.6 billion (Microsoft’s results; our Microsoft earnings article). That is the same yardstick Alphabet uses for its own free cash flow.
The deepest drop on StockTitan’s board belongs to Fortinet, down 26.36% in pre-market trading at 6:30 a.m. ET. It raised its 2026 sales forecast but cut its forecast for service revenue, the subscriptions and support customers pay for over time (release; our Fortinet article).
Biggest stock movers today and why
Results and buyouts drive most of the midday movers on StockTitan’s board. By our count, 23 of its 30 companies had a release of their own since Wednesday’s close. ADT leads the gainers after agreeing to a buyout, and Iovance has the deepest drop after its lung cancer update.
Iovance had risen before the bell ahead of its trial update, then fell 35.42% in the regular session at 12:00 p.m. ET once the results were out. Its 24.6% response rate was in line with the 25.6% it reported earlier (release). Glaukos and Crocs rose on strong results, and Crocs raised its full-year outlook for the third time this year. Fortinet and Sprouts Farmers Market kept most of their early losses after cutting forecasts. Haleon fell with no company news found on StockTitan as of 12:00 p.m. ET.
| Company | Move | Why |
|---|---|---|
| ADT (ADT) | +33.60%, regular session, 12:00 p.m. ET | Agreed to be acquired by Thrive Holdings for $10.00 a share in cash, 45.6% above its October 27 close, in a deal valued at $15.3 billion including debt (release). |
| Glaukos (GKOS) | +32.69%, regular session, 12:00 p.m. ET | Reported record third-quarter net sales of $211.0 million, up 58% from a year earlier (release). |
| Porch Group (PRCH) | +27.55%, regular session, 12:00 p.m. ET | Said its third-quarter results beat its own expectations and raised its outlook for the rest of the year (release). |
| Crocs (CROX) | +25.57%, regular session, 12:00 p.m. ET | Raised its full-year 2026 outlook for sales and profit, its third raise this year (release). |
| Climb Global Solutions (CLMB) | +25.08%, regular session, 12:00 p.m. ET | Reported record third-quarter net sales of $220.3 million, up 37% (release). |
| Bausch Health (BHC) | +24.78%, regular session, 12:00 p.m. ET | Reported third-quarter revenue of $2.94 billion, up 10%, raised its guidance and announced a $50 million share buyback (results; buyback). |
| Teladoc Health (TDOC) | +24.78%, regular session, 12:00 p.m. ET | Reported revenue near the top of its own forecast range and an adjusted profit measure above it, though revenue fell 3% (release). |
| Insmed (INSM) | +16.55%, regular session, 12:00 p.m. ET | Raised its 2026 sales forecast for Brinsupri, its drug for a chronic lung disease, to $1.35 billion to $1.4 billion (release). |
| Carvana (CVNA) | +15.39%, regular session, 12:00 p.m. ET | Reported record third-quarter sales of 217,385 cars, up 39%, and revenue of $8.04 billion, up 42% (release). |
| Company | Move | Why |
|---|---|---|
| Iovance Biotherapeutics (IOVA) | -35.42%, regular session, 12:00 p.m. ET | Reported that 17 of 69 patients responded in its lung cancer trial, a 24.6% rate in line with the 25.6% it reported earlier, and plans a new study in patients picked by tumor markers (release). |
| Titan International (TWI) | -26.96%, regular session, 12:00 p.m. ET | Reported third-quarter revenue of $335 million from continuing operations; the release gives no reason for the drop (release). |
| Sprouts Farmers Market (SFM) | -22.45%, regular session, 12:00 p.m. ET | Reported comparable store sales down 0.9% and forecast a fourth-quarter decline of 2% to 4% (release). |
| Fortinet (FTNT) | -21.36%, regular session, 12:00 p.m. ET | Raised its 2026 revenue forecast and cut its forecast for service revenue (release). |
| Alnylam Pharmaceuticals (ALNY) | -18.86%, regular session, 12:00 p.m. ET | Reported third-quarter product revenue of $1.29 billion, up 52%, and said it is on track for its 2026 forecast; the release gives no reason for the drop (release). |
| Alkami Technology (ALKT) | -18.03%, regular session, 12:00 p.m. ET | Reported third-quarter revenue of $134.9 million, up 19.4%; the release gives no reason for the drop (release). |
| Haleon (HLN) | -15.90%, regular session, 12:00 p.m. ET | No company news found on StockTitan as of 12:00 p.m. ET. |
| Alphabet (GOOGL) | -11.66%, regular session, 12:01 p.m. ET (GOOG -11.50%) | Reported Google Search growth of 12%, down from 17% the quarter before, and a negative free cash flow of $9.1 billion (release; second-quarter release). |
| Marvell Technology (MRVL) | -11.13%, regular session, 12:01 p.m. ET | No company news found on StockTitan as of 12:00 p.m. ET; Reuters tied the early drop to media reports that Marvell is in advanced talks to acquire Lumentum. |
Source: StockTitan live movers board, 12:00 p.m. ET on October 29, 2026, regular-session trades against the October 28 close. The board lists only its 15 biggest gainers and losers, so Alphabet and Marvell come from StockTitan real-time Nasdaq data at 12:01 p.m. ET, against their October 28 official closes. Each reason comes from the company’s own release or filing, or from Reuters where named.
Why is Marvell stock down today
Reuters reported that Marvell fell and Lumentum rose before the bell after media reports that Marvell is in advanced talks to acquire Lumentum. Neither company had confirmed the talks in a release or filing on StockTitan as of 12:00 p.m. ET.
Marvell traded 11.13% lower and Lumentum 3.85% higher in the regular session at 12:01 p.m. ET, StockTitan data show.
What to watch for the rest of the day
Three big reports come after the 4:00 p.m. ET close, from Intel, Sandisk and Amazon.
- After the close: Intel releases its third-quarter results “promptly after close of market” (announcement). Sandisk releases its fiscal first-quarter results, with a call at 4:30 p.m. ET (announcement), and Amazon its third-quarter results, with a call at 5:00 p.m. ET (announcement).
- Any day: whether Marvell or Lumentum confirms the reported talks in a release or an 8-K filing, the form US companies use to report major events.
Our numbers
- 23 of 30: the companies on StockTitan’s live movers board at 12:00 p.m. ET with a release of their own dated after Wednesday’s 4:00 p.m. ET close.
- $3.5 trillion: Alphabet’s value at $286.995 a share at 12:01 p.m. ET. It scales the $3.55 trillion StockTitan’s board showed at $290.34 a share at 6:30 a.m. ET.
- 6.0%: Eli Lilly’s last trade of $1,368.13 at 12:01 p.m. ET against $1,290.75, its last regular-session trade on Wednesday, from StockTitan real-time data.
- $18.6 billion: Microsoft’s $58.0 billion of cash from operations in its fiscal first quarter, less $39.4 billion of additions to property and equipment, both from its results release.
Frequently asked questions
What is moving the stock market today?
Company results are, CNBC reported. The Nasdaq Composite was down 1% at 11:37 a.m. ET. Alphabet was 11.66% lower at 12:01 p.m. ET after a quarter in which it spent more cash than it brought in. Eli Lilly’s raised forecast lifted health stocks to a record, and data showed the economy growing at a 3.4% annual rate in the third quarter.
Why is Iovance (IOVA) stock down today?
Iovance was down 35.42% in the regular session at 12:00 p.m. ET after updated results from its lung cancer trial. It said 17 of 69 patients responded, a 24.6% rate in line with the 25.6% it reported earlier, and it plans a new study in patients picked by tumor markers.
Why is ADT (ADT) stock up today?
ADT was up 33.6% in the regular session at 12:00 p.m. ET after Thrive Holdings agreed to acquire it for $10.00 a share in cash. ADT said that price is 45.6% above its October 27 close, and that the deal is expected to close in the first quarter of 2027.
Why is Glaukos (GKOS) stock up today?
Glaukos was up 32.69% in the regular session at 12:00 p.m. ET after its third-quarter results. Its net sales reached a record $211.0 million, up 58% from a year earlier.
Why is Sprouts Farmers Market (SFM) stock down today?
Sprouts was down 22.45% in the regular session at 12:00 p.m. ET. Its third-quarter comparable store sales fell 0.9%, and it forecast a decline of 2% to 4% for the fourth quarter.
Why is Fortinet (FTNT) stock down today?
Fortinet was down 21.36% in the regular session at 12:00 p.m. ET after its third-quarter results. The company raised its 2026 revenue forecast, but it cut its forecast for service revenue, the subscriptions and support customers pay for over time.
Why is Alphabet (GOOGL) stock down today?
Alphabet was down 11.66% in the regular session at 12:01 p.m. ET after its third-quarter results. Google Search revenue grew 12%, slower than the 17% of the quarter before. Spending on property and equipment reached $51.4 billion, leaving a negative free cash flow of $9.1 billion by Alphabet’s own measure.
Why is Eli Lilly (LLY) stock up today?
Eli Lilly was 6.0% higher at 12:01 p.m. ET by our calculation after its third-quarter results. Revenue grew 39% to $24.4 billion, driven mainly by its Mounjaro and Zepbound drugs, and it raised its 2026 revenue forecast to $91 billion to $92 billion.
Sources
- Bureau of Economic Analysis: GDP, third quarter 2026, advance estimate (October 29, 2026)
- Bureau of Economic Analysis: Personal income and outlays, September 2026 (October 29, 2026)
- StockTitan: Alphabet third-quarter 2026 earnings (October 28, 2026)
- StockTitan: Microsoft fiscal first-quarter 2027 earnings (October 28, 2026)
- StockTitan: Fortinet third-quarter 2026 earnings (October 28, 2026)
- StockTitan: Stock market today, October 28, 2026
- Eli Lilly third-quarter 2026 results (October 29, 2026)
- ADT acquisition by Thrive Holdings (October 29, 2026)
- DoorDash agreement to acquire Instacart (October 29, 2026)
- Iovance updated IOV-LUN-202 results (October 29, 2026)
- Glaukos third-quarter 2026 results (October 28, 2026)
- Porch Group third-quarter 2026 results (October 28, 2026)
- Crocs third-quarter 2026 results (October 29, 2026)
- Climb Global Solutions third-quarter 2026 results (October 28, 2026)
- Bausch Health third-quarter 2026 results (October 28, 2026)
- Bausch Health share buyback (October 28, 2026)
- Teladoc Health third-quarter 2026 results (October 28, 2026)
- Insmed third-quarter 2026 results (October 29, 2026)
- Carvana third-quarter 2026 results (October 28, 2026)
- Titan International third-quarter 2026 results (October 29, 2026)
- Sprouts Farmers Market third-quarter 2026 results (October 28, 2026)
- Fortinet third-quarter 2026 results (October 28, 2026)
- Alnylam third-quarter 2026 results (October 29, 2026)
- Alkami third-quarter 2026 results (October 28, 2026)
- Microsoft earnings release notice (October 28, 2026)
- Alphabet third-quarter 2026 results release, SEC exhibit 99.1 (October 28, 2026)
- Alphabet second-quarter 2026 results release, SEC exhibit 99.1 (second quarter of 2026)
- Microsoft fiscal 2027 first-quarter results (October 28, 2026)
- Fortinet third-quarter 2026 results, investor site (October 28, 2026)
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