Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis.

Good afternoon. Today is Friday, November 10th, and I'm'm your host Kim Khan. Our top story so far.

As we near the end of earning season, investors continue to punish stumbles in results and guidance.

While overall S&P earnings beats have been historically solid, with about 80% topping

Wall Street estimates on the bottom line, investors have been quick to pull the trigger

on downside surprises and especially caution on the future.

Competition for yield means even less patience for companies that aren't executing.

The S&P dividend yield sits around 1.6%, while investors can get more than 4.5% on a 10-year

Treasury bond and north of 5% in money markets.

According to the J.P. Morgan Global Market Strategy team, for Q3 earnings the average price performance relative the is down 0.4%. They say, overall, earnings beats have been rewarded, the average excess performance

up 0.4%, though Mrs. punished far more, down 3.2%. Examples today, the Trade Desk plunged after issuing a lighter

than expected sales forecast for the coming quarter, prompting several Wall Street

firms to defend the ad tech company. Plug power sank after reporting a larger than expected Q3 loss and below consensus revenues.

It said results have been hurt by supply challenges in the North American hydrogen market.

Unity software fell after third-quarter figures missed estimates,

and the interim chief executive vowed to write the ship.

Sales fell short, and Unity also declined to provide guidance for the fourth quarter of full year

as the company seeks to refocus, accelerate revenue, growth, and improve profitability metrics.

And shares of Diageo sank to a 52-week low as it expects materially weaker

performance in Latin America and the Caribbean. The region is nearly

11% of Diageo's net sales value and is expected to see organic net sales decline by more than 20% year

over year in the first half of fiscal 2024.

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