Amazon shares rise as cloud business boosts profits; DexCom drops

Shares of an e-commerce and cloud computing company posted big gains on the last day of October, while a medical device maker came under pressure after an executive gave a disappointing 2026 sales growth forecast.

Major US stock indexes closed higher on Friday as markets wrapped up an eventful week that included the Federal Reserve’s latest interest rate cut and a trade truce between the US and China. The Dow Jones rose 0.1%, the S&P 500 rose 0.3%, and the Nasdaq rose 0.6%. All three recorded gains for the week and month. See here for more Investopedia In the market movement on Friday.

Amazon ( AMZN ) stock jumped nearly 10% to a record closing high after the tech giant reported better-than-expected third-quarter earnings. Growth in the company’s Amazon Web Services business helped drive the strong results. CEO Andy Jassy highlighted Amazon’s plans to boost its AI capability as it taps into growing demand for AI infrastructure.

Shares of First Solar (FSLR) rose more than 14% to top Friday’s performance in the S&P 500. Although the solar panel maker’s earnings per share in the third quarter fell short of estimates, its revenue for the period beat expectations, boosted by demand from U.S. solar project developers. First Solar also announced a plan to open a new manufacturing facility in the United States with an annual production capacity of 3.7 gigawatts.

Coinbase Global (COIN), the operator of the largest cryptocurrency exchange in the United States, beat expectations for quarterly sales and profits. Coinbase said it saw gains in consumer and institutional trading volume, supported by optimism surrounding the US regulatory outlook for digital assets. CEO Brian Armstrong also highlighted the company’s expansion into prediction markets and tokenized assets, under Coinbase’s “exchange everything” strategy. Coinbase shares added nearly 5%.

Shares of DexCom (DXCM) fell nearly 15%, suffering the biggest daily decline in the S&P 500. While the maker of continuous glucose monitors for diabetes beat estimates for third-quarter sales and earnings, DexCom’s management team warned that 2026 revenue growth may fall short of expectations. Executives also addressed concerns about DexCom’s flagship G7 sensor after reports of quality issues, noting that the company fixed an issue with the product earlier this year, and noting efforts to improve its customer service platform.

Erie Indemnity (ERIE) shares fell 5.5% after the insurance management company reported mixed third-quarter results. While earnings per share exceeded expectations, revenues for this period exceeded the required level. Erie executives said the company has faced challenges with large underwriting losses from auto and homeowners policies in recent years due to an uptick in severe weather.