Supply Chain Crunch Impact on Earnings, Intel Slumps, Snap Tumbles on "Apple Effect," the "Trump SPAC" Skyrockets -- and a New Record High for the S&P 500

Carl Quintanilla, Morgan Brennan and Mike Santoli focused on a barrage of earnings reports in which the supply chain crunch played a big role in quarterly results. Intel shares took a big hit after the chipmaker warned of lower profit margins and missed on quarterly revenue in wake of the global chip shortage. Wedbush Securities' Intel analyst appeared on the program with his take on which chip stocks are best to buy now. Snap was one of the biggest losers of the morning: The parent of Snapchat warned of slowing growth due to the recent changes in Apple iOS privacy rules. The news from Snap also weighed on shares of Facebook, Twitter and Google parent Alphabet. Honeywell posted mixed Q3 results due to what its CEO called a "tough" supply chain environment. A different story for Mattel: The stock up sharply on better-than-expected quarterly results. The toy maker said supply chain disruptions would not prevent it from having a strong holiday season. “Trump SPAC” Day Two: Digital World Acquisition -- The SPAC that is merging with Trump Media & Technology Group -- soared again after more than quadrupling in Thursday’s trading. Also in focus: A new record intraday high for the S&P 500, Pfizer and partner BioNTech said their COVID-19 vaccine is more than 90% effective in kids ages 5 to 11, President Biden considering deploying the National Guard to ease supply chain bottlenecks, Chipotle profit rises on price hikes -- and a Wall Street Upgrade for Zoom Media Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.