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Stock Market News Daily Roundup October 17

ME Staff

Shares of International Business Machines (NYSE: IBM) are down 5% today as the company topped Wall Street expectations for third-quarter earnings but missed Street estimates for revenue. The company reported a total revenue of $18.76 billion, down from $19.15 billion a year ago. Analysts estimated $19.10 billion in revenue for the third quarter.

Netflix, Inc. (NASDAQ: NFLX) reported better-than-expected subscriber growth in the third quarter. From July to September, added about 7 million streaming customers in the latest quarter, 1.8 million more than Wall Street expected. Share soared 5% so far today.

Shares of Lam Research Corporation (NASDAQ: LRCX) are up 3% after the chip-equipment company reported better-than-expected forecasts for fiscal second-quarter profit and sales. The company predicts adjusted earnings of $3.45 per share to $3.85 per share for the fiscal second quarter, higher than analysts’ average estimate of $3.29 per share. It expects revenue to be in a range of $2.35 billion to $2.65 billion, while Street was expecting revenue of $2.49 billion.

Blink Charging Co. (NASDAQ: BLNK), which provides electric vehicle (EV) charging station products and networked EV charging services, has teamed up with Google Maps to assist EV drivers in locating its charging stations. Google Maps is launching a new feature that brings EV charging stations to its map. Blink shares are down over 20% on the day.

Shares of vTv Therapeutics Inc (NASDAQ: VTVT) are up 43% after news that the company will deliver an oral presentation and present a poster at the 11th Clinical Trials on Alzheimer’s Disease in Barcelona, Spain. vTv Therapeutics is a clinical-stage biopharmaceutical company engaged in the discovery and development of orally administered treatments for Alzheimer’s disease and diabetes.

Shares of Tesla Inc (NASDAQ: TSLA) are down 3% after the electric car maker disclosed a plan by CEO Elon Musk to buy $20 million of newly-issued TSLA common shares during the next open trading window at market prices. Shares were up in the premarket on the news but have since reversed back down.

The New York Times (NYSE: NYT) is teaming up with reading subscription service Scribd to offer a subscription service. In a joint statement, the companies said that subscribers will get unlimited digital access to The New York Times and Scribd’s library of books and audiobooks for a monthly fee of $13.

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