AI data centers boost Caterpillar earnings, Fiserv stock plunges

Morning Brief host Julie Hyman tracks several of the day's top trending stock tickers, including Verizon Communications (VZ) stock gaining in pre-market trading on its latest earnings results and growth plan outlook, AI data center projects giving a boost to Caterpillar's (CAT) earnings, and Fiserv (FI) shares plunging after cutting its full-year profit forecast.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief.

Video Transcript

00:00 Speaker A

First up, we have Verizon, the telecom company out with its third quarter results. The nation nation's largest mobile service provider reported gains in revenue and profit last quarter.

00:10 Speaker A

Dan Schulman is the former CEO of PayPal. Remember he's taking the helm at the company, and he laid out an aggressive growth strategy to try to take back market share.

00:17 Speaker A

That C-Suite reshuffle comes after two consecutive quarters of subscriber declines and a stock performance that has lagged Verizon's rivals.

00:23 Speaker A

In the third quarter, Verizon reported a loss of 7,000 mobile phone customers.

00:29 Speaker A

Next up we got Caterpillar. It's topping earnings estimates amid rising demand for energy equipment. The manufacturer posted higher third quarter revenue as AI data center drove demand for its energy products.

00:40 Speaker A

The company has emerged as a key supplier of power producing equipment. That includes turbines and generators which have helped diversify its sales and it's much more weighted towards those types of sales now.

00:49 Speaker A

And finally, Fiserv. Those shares plunging after the Fintech company cut its full-year profit forecast.

00:54 Speaker A

Fiserv, one of the largest providers of technology to banks, and the company's change in forecast comes after it reported a 3% decline in revenue in its financial solutions segment.

01:04 Speaker A

That division provides the underlying technology for legions of banks and credit unions across the country.

01:10 Speaker A

It also announced a broad overhaul of its board and top leadership committee. Those shares plunging by almost 40%.

01:17 Speaker A

As always, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page.

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