Costco announced a special cash dividend of $30 per share payable December 4, totaling approximately $13.3 billion. The board also reauthorized a $4 billion common-stock repurchase program. This marks the largest special dividend in the company's history, exceeding the previous high of $6.7 billion paid in January 2024. Costco has paid special dividends since December 2012.
CoreWeave rose 11% in premarket trading after reporting third-quarter results that beat Wall Street forecasts. The neocloud provider posted an adjusted loss of $1.27 per share on revenue of $3.66 billion, more than double year-over-year, versus analyst expectations of a $1.54 loss per share on $3.54 billion in revenue. The company ended the quarter with a revenue backlog of roughly $132.5 billion. CoreWeave raised full-year fiscal 2026 guidance to $13 billion to $13.3 billion in revenue, above the $12.88 billion consensus and its prior guidance range of $12.4 billion to $13.2 billion.
7 Brew added five bakery items priced at $3 each to its drive-thru coffee menu, three inspired by existing 7 Brew drinks. The move intensifies competition with Starbucks, Dutch Bros, and Dunkin, which already sell food. Dutch Bros has launched a hot breakfast lineup and Starbucks upgraded its bakery case. 7 Brew was the fastest-growing chain in the industry last year with triple-digit growth, according to Technomic.
Fossil Group shares rallied 23% after the watchmaker reported stronger-than-expected third-quarter results, marking its first quarter of sales growth in four years.
Stock markets are open Wednesday despite Veteran's Day, though bond markets are closed. Crude oil rose 0.8% to $86 per barrel and Brent crude climbed 1.3% to $92. The FTSE 100 gained 0.3% and the DAX rose 0.7%.