Q3 Earnings Mixed; Tech Leads, Trucks Lag

Third-quarter earnings were mixed across sectors, with semiconductor and tech-related companies (Lam Research, CACI, Amphenol, Avery Dennison) driving positive market reactions while transportation, insurance and some banks faced selloffs amid margin compression and rising costs. Lam Research beat expectations and raised guidance on strong AI‑infrastructure and high‑bandwidth memory demand, while Amphenol posted broad-based double‑digit organic growth aided by recent acquisitions and Avery Dennison reported margin expansion in materials and specialty labels. CACI outperformed on robust national‑security demand, a record backlog and reaffirmed guidance. In trucking, Covenant Logistics and Knight‑Swift reported margin pressure from inflationary costs, higher claims and insurance expenses, soft volumes and regulatory impacts on capacity and spot rates. Among financials and healthcare, United Community Banks and CVB Financial showed balanced loan growth, improved deposit‑cost management and stable credit metrics; WesBanco highlighted progress integrating Premier despite investor concern, and Molina Healthcare raised revenue guidance even as elevated medical costs materially reduced profitability.