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Ferrari (NYSE:RACE) had its largest daily fall in history, closing down almost 15%, as the capital markets day revealed a slower growth forecast for revenue and earnings, along with a pivot in electric vehicle (EV) sales targets.

• Trading temporarily halted due to volatility: The projected rise in adjusted earnings by 2030 implies a slower growth rate than was offered three years ago, with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 40% still healthy but below expectations.
• "Given its powerful brand position and enviable unit economics, the Stock Advisor team remains positive on RACE": Fool analyst Asit Sharma said, "Ferrari always issues conservative multi-year targets, and it's always exceeded them since going public, but this is a near-term drag nonetheless."

Bloomberg reports that Apple (NASDAQ:AAPL) is shaking up its health and fitness divisions, as it moves around senior executives and aims to drive focus in this area ahead of the launch of the Health+ subscription service.

• A corporate version of musical chairs: As long-time Chief Operating Officer Jeff Williams prepares to leave, Services Chief Eddy Cue is expected to oversee the combined division of both health and fitness, with Craig Federighi leading the Apple Watch operations.
• Health+ expected to launch next year: Apple's upcoming subscription model will feature an artificial intelligence (AI)-powered assistant and have personalized recommendations based on factors such as sleep and exercise strain.

Applied Digital (NASDAQ:APLD) rocketed almost 17% higher after the market closed, thanks to better-than-expected results, which included securing more funding to help drive expansion plans.

• "We believe we are in a prime position to serve as the modern-day picks and shovels of the intelligence era": CEO Wes Cummins pointed to hyperscalers expecting $350 billion worth of AI investment deployment this year, with Applied Digital looking to ride the wave.
• Adjusted selling, general, and administrative expenses (SG&A) reached almost 50% of revenue: Levi Strauss (NYSE:LEVI) fell by as much as 8% following the closing bell, despite results showing a 7% sales gain versus last year, as high inventory levels and elevated costs provided reasons for concern.

The Bureau of Labor Statistics (BLS) has recalled some staff to prepare the Consumer Price Index (CPI) inflation report for September, meaning it could be released before the Federal Reserve's policy meeting at the end of the month.

• Data needed for Social Security check calculations: The administration uses third-quarter CPI data to figure out the annual cost-of-living adjustment amount, meaning the September inflation figure is needed to publish it in a timely manner.
• CME FedWatch tool showing a 94.6% chance of a 25 basis point rate cut: All data for September is available from before the government shutdown, and publishing the report would give Fed members a vital insight into any inflation changes, which could impact their decision on whether to cut interest rates again.

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