11:50 AM EDT, 10/31/2024 (MT Newswires) -- All three major US indexes were trading in negative territory Thursday morning with the Nasdaq Composite leading the way down following downbeat earnings reports from big technology companies.

In company news, Microsoft ( MSFT ) reported fiscal Q1 earnings late Wednesday of $3.30 per diluted share, up from $2.99 a year earlier and above the Capital IQ consensus analyst estimate of $3.11. Fiscal Q1 revenue was $65.59 billion, up from $56.42 billion in the year-ago period and above the Capital IQ consensus of $64.56 billion. Revenue from Azure, Microsoft's ( MSFT ) cloud-computing platform, grew 34%, slightly above expectations, but the better-than expected result was "due to the small benefit from in-period revenue recognition," a Truist Securities note said. Shares of Microsoft ( MSFT ) were down 5.8% near noon.

Meta Platforms ( META ) reported Q3 diluted earnings late Wednesday of $6.03 per share, up from $4.39 a year earlier and above the Capital IQ consensus estimate of $5.29. Third-quarter revenue was $40.59 billion, up from $34.15 billion a year earlier and slightly above the Capital IQ consensus of $40.31 billion. Meta said it expects Q4 revenue to be in a range of $45 billion to $48 billion, compared to the Capital IQ consensus of $46.24 billion. The company narrowed its full-year 2024 total expense forecast to a range of $96 billion to $98 billion from $96 billion to $99 billion previously. Meta expects full-year 2024 capital expenditures to be in the range of $38 billion to $40 billion, compared to prior guidance of $37 billion to $40 billion. Meta shares were down 3.9%.

Mastercard ( MA ) reported Q3 adjusted earnings Thursday of $3.89 per diluted share, up from $3.39 a year earlier and above the Capital IQ consensus analyst estimate of $3.75. Third-quarter net revenue was $7.37 billion, up from $6.53 billion in the year-ago period and above the Capital IQ consensus of $7.27 billion. Mastercard ( MA ) shares were down about 2%.

Shell (SHEL) reported Q3 adjusted earnings Thursday of $0.96 per share, up from $0.93 a year earlier. Third-quarter revenue was $71.09 billion, down from $76.35 billion in the year-ago period and below the forecast from two analysts surveyed by Capital IQ of $77.99 billion. The company launched a $3.5 billion share buyback program with a term of three months. The program is expected to be completed before the release of Shell's Q4 results on Jan. 30, 2025. Shell also said cash capital expenditure for full-year 2024 is expected to be below $22 billion. Shares of Shell were up 2.0%.

Comcast ( CMCSA ) reported Q3 adjusted earnings Thursday of $1.12 per share, up from $1.08 a year earlier and above the Capital IQ consensus estimate of $1.06. Third-quarter revenue was $32.07 billion, up from $30.12 billion a year earlier and above the Capital IQ estimate of $31.71 billion. Comcast ( CMCSA ) will commence a study to explore creating a new company comprised of its cable portfolio networks, President Michael Cavanagh said Thursday on the company's Q3 earnings call with analysts. Comcast ( CMCSA ) shares were up about 3%.

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