EARNINGS & CATALYSTS · November 3, 2026
November 3 earnings preview: AMD and Arista test AI demand as travel and insurers report
AMD and Arista put AI spending in focus after close on November 3. Amgen, Booking, Block, AIG, Prudential and IFF add tests of drug growth, travel demand and financial resilience.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| Advanced Micro Devices, Inc. (AMD) | November 3, 2026Issuer confirmed | After close | 1.95 | 13.1B |
| Amgen Inc. (AMGN) | November 3, 2026Issuer confirmed | After close | 5.79 | 10.07B |
| Arista Networks, Inc. (ANET) | November 3, 2026Issuer confirmed | After close | 1.08 | 3.33B |
| Booking Holdings Inc. (BKNG) | November 3, 2026Issuer confirmed | After close | 4.49 | 9.55B |
| Block, Inc. (XYZ) | November 3, 2026Issuer confirmed | After close | 1.03 | 6.58B |
| American International Group, Inc. (AIG) | November 3, 2026Issuer confirmed | After close | 1.88 | 7.42B |
| Prudential Financial, Inc. (PRU) | November 3, 2026Issuer confirmed | After close | 3.34 | 14.66B |
| International Flavors & Fragrances Inc. (IFF) | November 3, 2026Issuer confirmed | After close | 0.81 | 1.91B |
1) What is scheduled for November 3?
AMD, Amgen, Arista Networks, Booking Holdings, Block, AIG, Prudential Financial and IFF have announced third-quarter earnings releases for after close on November 3, 2026. This is a preview of the decisions ahead. AIG, IFF and Prudential plan their results calls for November 4, so their written releases and management discussions arrive on different days.
2) AMD: can faster sales support profit margins?
AMD’s August 4 outlook called for third-quarter revenue of $13 billion, plus or minus $300 million, and an adjusted gross margin of about 56%. Gross margin is the share of sales left after the direct cost of products. Compare the coming results with that company outlook and watch whether the next-quarter forecast shows continued demand for data-center chips. Intel’s October 29 report provides relevant context: Data Center and AI revenue rose 78%, while its PC-focused business fell 5%. That points to uneven end markets. AMD has a different product mix, and Intel’s results are not a forecast for AMD.
3) Arista: will new AI networking products become sales?
Arista announced rack-scale Ethernet systems on October 7, developed with partners including AMD, Broadcom and major cloud customers. These systems connect large groups of AI chips. The earnings question is how product launches translate into customer spending, shipment timing and profit margins. Watch the revenue outlook and customer concentration. Large buyers can create substantial orders, but shifts in their spending plans can also make quarterly growth uneven.
4) Amgen: how does recent cancer-drug progress change the outlook?
On October 24, Amgen reported interim Phase 3 results for Imdelltra combined with Imfinzi in a specific first-line maintenance lung-cancer setting. The combination reduced the measured risk of death by 58% versus Imfinzi alone in that trial. This is clinical evidence, rather than a guarantee of future sales or expanded approval. For earnings, watch current medicine sales, pricing and research spending. Management’s discussion of the route from trial results to potential use in this treatment setting matters alongside the quarterly profit figures.
5) Booking: is stronger hotel demand reaching the travel platform?
Booking earns revenue through online travel reservations and related services. Watch room nights, the value of bookings and marketing spending to see whether demand is becoming profitable growth. Marriott reported on November 2 that third-quarter revenue per available room rose 6.5% worldwide in constant currencies, and raised its full-year growth outlook to 4.5%–5%. Revenue per available room combines hotel occupancy and room pricing. This is useful travel-sector context, but hotel operators and online booking platforms earn money differently.
6) Block: does the seller ecosystem produce profitable growth?
Marqeta announced on October 19 that it is powering Square’s business credit card on the American Express network, bringing Square’s debit, prepaid and credit programs onto one processing platform. This is an operating development to assess alongside earnings, rather than a quantified promise of new profit. Watch Square seller activity, Cash App engagement and gross profit, together with operating costs and credit losses. More borrowing can deepen customer relationships, but it also increases the importance of repayment quality.
7) AIG: can expansion preserve insurance profitability?
On October 30, AIG announced a signed agreement to buy Everest’s Chile insurance business and completed the separate Colombia acquisition. The Chile transaction remains subject to approvals and is expected to close in the first half of 2027. Watch the combined ratio, which compares claims and expenses with insurance premiums. A ratio below 100% indicates an underwriting profit before investment income. Premium growth is more valuable when pricing also covers claims, expenses and catastrophe risk.
8) Prudential: what has already been disclosed?
Prudential’s October 15 filing estimated that its Japan sales suspension reduced third-quarter pre-tax adjusted operating income by about $140 million. It also disclosed $1.47 trillion of PGIM assets under management at September 30. These were preliminary figures, and the full earnings release remains a separate event. Watch the final Japan impact, investment-management fees and insurance earnings. Segment reporting has changed, so compare the revised historical figures when judging growth. Interest rates, markets and investment losses can affect results.
9) IFF: how profitable is the smaller continuing business?
IFF’s August 4 report presented Food Ingredients as discontinued operations after a signed agreement to sell that business. The sale was expected to close by the end of the second quarter of 2027, subject to conditions. It had not been described as completed in that report. Watch sales and margins in the continuing business, together with costs that remain after a sale. Compare like-for-like results: removing a business can reduce reported revenue without showing that the remaining products are selling less.
10) How should investors read the results?
Start with revenue, cash generation and the outlook for the next period. EPS means profit per share; adjusted EPS removes selected costs and can differ substantially from profit under GAAP accounting rules. Compare each measure on the same basis and fiscal period. A strong past quarter can still be followed by a cautious outlook, and share prices can move sharply after close when trading is thinner. The most useful next step is to check what changed in the business and whether management’s outlook supports it.