Company results

TSMC's third-quarter profit rose 68.7% and it expects up to $54.3bn in sales next quarter. Its shares still fell 2% in Taipei, caught in the chip sell-off.

The Philadelphia semiconductor index fell 4.3% on Wednesday after a hot inflation report. Chipmakers are expected to provide much of the S&P 500's third-quarter profit growth.

ASML's third-quarter results beat its own forecast and it raised its 2026 outlook again. Chipmakers now want more machines than it can build in 2027 and 2028.

PepsiCo earnings: third-quarter revenue rose 5.6%, but PepsiCo cut its 2026 profit forecast as sales in North America stalled and input costs kept rising.

Tesco results for the half year: adjusted operating profit rose 6.3% to £1.78bn, and Tesco raised its profit forecast for the year and its buyback to £950m.

Samsung earnings guidance puts third-quarter operating profit at 107.4tn won, about $76bn, almost nine times last year's, as AI demand keeps memory chips short.

Levi Strauss earnings rose on $79m of tariff refunds after the Supreme Court ruling. Without them, operating profit was flat on the year and US sales fell 1%.

The consultancy beat its own forecast, booked $22.2bn of new work and expects growth of 3% to 6% next year. Its shares had lost about a third of their value this year on fears that AI would shrink demand.

Revenue rose 379% to $54.2bn and the gross margin reached 87%. Micron expects supply to be much tighter in 2027 and 2028. The shares, up 273% this year, rose 3%.

Sales fell 4% and Nike expects them to fall by a high single digit for the year. The shares dropped 8% after hours. At the guided profit, the dividend costs more than Nike earns.

The shares are down more than 40% this year and Nike has left the S&P 100. Analysts expect sales to fall again. Small investors are more patient than Wall Street.