Closing Bell: Avis Budget Meets Estimates, Qualcomm Higher, Cadence Design Lower

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Carol Massar.

On this episode of Stock Movers:

- Avis Budget (CAR) reported adjusted Ebitda for the third quarter that beat the average analyst estimate. Shares spiked 10% in afterhours trading after the release of third quarter results. The company also reported an Americas per-unit fleet cost of -20%.

- Qualcomm (QCOM) share close at the highest level since July 2024, after after unveiling chips and computers for the lucrative AI data center market, aiming to challenge Nvidia in the fastest-growing part of the industry. 

- Cadence Design (CDNS) shares sank 4% in the afterhours on their 3Q earnings. Still the company reported revenue that beat the average analyst estimate.

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