Alphabet shares post their worst day since 2004, Iran says three tankers hit mines near Hormuz, Israel's vote count leaves both blocs short, a judge names a special master in the California ballot fight, and Intel slides after hours.
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Shares of Alphabet, Google's parent company, closed down about 13% on Thursday, its worst day since its 2004 IPO, erasing roughly $500 billion in market value. Its third-quarter sales fell short of expectations, and investors were concerned about free cash flow and the return on its AI spending, even though Google Cloud revenue more than doubled. The Nasdaq fell about 1.4% and the S&P 500 and Dow also closed lower.
Iran's Revolutionary Guards said Thursday that three oil tankers exploded and caught fire after hitting mines in the previous 24 hours while using what they called an unauthorized southern route of the Strait of Hormuz. Iran did not name the ships, and the claims have not been independently verified. U.S. Central Command has said mines on the primary transit routes have been cleared; a Guards spokesman challenged that. Separately, the U.K. Maritime Trade Operations agency reported a vessel, identified by regional authorities as a dhow, caught fire and sank north of Khasab, Oman; its crew was safely evacuated.
With nearly all votes counted, Benjamin Netanyahu's right-wing and religious bloc has 53 of the Knesset's 120 seats and Gadi Eisenkot's opposition bloc has 48, both short of the 61 needed to govern. Arab parties won 19 seats combined. Official final results are expected November 4. Netanyahu remains caretaker prime minister until a new government forms. Election officials ordered the Shin Bet to look into an unverified TV report that money from Qatar was used to influence Arab turnout; Qatar denies it.
U.S. District Judge David O. Carter on Thursday appointed special master Daniel B. Garrie to develop the factual record on a Justice Department list of more than 20,000 people it calls likely noncitizens on California's voter rolls. It came less than 24 hours after Carter rejected the department's demand that California set those ballots aside until citizenship is verified. The department has asked the 9th Circuit Court of Appeals to rule quickly. Both sides agree the list includes some citizens.
Intel shares fell about 17% in after-hours trading Thursday after the chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion, below the roughly $17 billion analysts expected, even though its third-quarter results beat expectations. Its finance chief said the PC slowdown could last at least through the first half of next year. Amazon shares also fell as much as 10% after hours following its results before trimming losses.
1. In Israel's election count, how many seats did Arab parties win combined?
From story 3: Israel's election count points to a deadlock
2. When is the next evidentiary hearing in the California ballot case before Judge David O. Carter?
From story 4: Judge names special master in fight over California ballots
3. What fourth-quarter revenue range did Intel forecast?
From story 5: Intel shares slide after a weak sales forecast
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