Samsung Shares Drop 4 Percent Following Q3 Earnings Miss

Samsung shares slumped four percent in South Korea after a surprise third quarter earnings miss dragged tech futures lower. Nasdaq futures dropped over one percent following the news. Alphabet also missed expectations and lost ten percent in overnight trading. The trouble started when Samsung reported a lower operating profit than expected in its chipmaking division. Over at Google, search ad revenue fell short of forecasts. Investors worry that new AI overlays are eating into the company's core business. The only bright spot was Microsoft. They beat revenue expectations and lowered their capital expenditure guidance. That sent their stock up three percent overnight.