Stock Indexes Open Higher Ahead of Fed Interest-Rate Decision, Big Tech Earnings; Nvidia Hits $5 Trillion Market Cap

Caesars Entertainment Attributes Weak Results in Part to ‘Lower City-Wide Visitation’ in Las Vegas

1 hr 10 min ago

Caesars Entertainment (CZR) reported weaker-than-expected third-quarter results before the bell Wednesday. It attributed them in part to fewer visitors to its home base of Las Vegas.

Shares of Caesars sank 8% in premarket trading after the casino operator reported a wider loss and slightly less revenue than analysts had expected.

The company posted a loss of $0.27 per share and revenue of $2.87 billion, essentially flat from a year ago. Analysts surveyed by Visible Alpha had projected a loss of $0.07 per share and revenue of $2.89 billion.

Caesars posted Las Vegas revenue of $952 million, down from $1.06 billion a year ago and below expectations of $1.00 billion, while its adjusted EBITDA in the gambling mecca of $379 million was down from $472 million and below the consensus forecast of $416 million. “Our Las Vegas segment Adjusted EBITDA declined during the quarter due to lower city-wide visitation and poor table games hold,” Caesars said.

Caesars shares entered Wednesday having lost roughly a third of their value this year.

Fiserv Stock Nosedives on Weak Results; Firm to Change Listing, Ticker, Leadership Team, Board

1 hr 43 min ago

Fiserv (FI) announced several pieces of news in addition to third-quarter results before the bell Wednesday. None is benefitting its struggling stock.

Shares of Fiserv sank nearly 30% in premarket trading after the fintech firm announced weaker-than-expected results and said it would be changing its listing, ticker, leadership team, and board.

The Milwaukee-based firm reported adjusted earnings of $2.04 per share on revenue that grew 1% year-over-year to $5.26 billion. Analysts surveyed by Visible Alpha had expected $2.63 and $5.69 billion, respectively.

Fiserv also lowered its 2025 organic revenue growth to a range of 3.5% to 4% and adjusted EPS of $8.50 to $8.60. Last quarter, it projected organic revenue growth of about 10% and adjusted EPS of $10.15 to $10.30.

“Along with today’s guidance reset, we have launched One Fiserv, an action plan focused on the pillars that have long distinguished the company, including great client service, value-added technology solutions and leading innovation,” CEO Mike Lyons said. “Our current performance is not where we want it to be nor where our stakeholders expect it to be.” 

The company also named Paul Todd its new CFO, effective Friday. Todd previously served as CFO of Global Payments, and will succeed Robert Hau, “who will serve as a senior advisor through the first quarter of 2026 to support a smooth transition.” Fiserv also also announced that Gordon Nixon, Céline Dufétel, and Gary Shedlin will replace three members of its board on Jan. 1, with Nixon becoming Independent Chairman.

Finally, Fiserv announced it intends to transfer its listing to the Nasdaq from the New York Stock Exchange on Nov. 11, and change its ticker symbol to “FISV” from the current “FI.”

Fiserv shares entered Wednesday down about 38% this year.

Stock Futures Rise Ahead of Fed Decision

2 hr 31 min ago

Futures tied to the Dow Jones Industrial Average rose 0.1%.

S&P 500 futures were up 0.2%.

Nasdaq 100 futures rose 0.4%.