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A pair of surveys of American companies shows that businesses grew at the fastest pace in October in at least eight months, according to IHS Markit. The firm’s flash manufacturing PMI rose to 54.5 this month and hit a nine-month high. The flash services PMI increased to 55.9 in October from 55.3 and reached a eight-month peak. “The U.S. economy seems to have made a strong
start to the final quarter of 2017,” said Tim Moore, asociate director at IHS Markit. Any number above 50% indicates more companies are growing instead of shrinking.

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Tenet Healthcare Corp. shares declined 1.8% in Tuesday morning trade after the company’s chief executive officer left the company at an earlier-than-expected date. The company announced in late August that then-Chief Executive Trevor Fetter would step down from his position and a director role either March 15 or when a successor was appointed. However, Fetter stepped down before a permanent successor was appointed. Tenet said Executive Chairman Ronald Rittenmeyer will serve as CEO as the search for a new one continues. Mizuho Securities analyst Sheryl Skolnick called Fetter’s exit abrupt and asked, “Why now?” “With the company reportedly up for sale, regional management being eliminated, hospitals closing and the 3Q report coming up, and Executive Chairman Rittenmeyer, whose CEO skills are largely unknown to us, now at the helm, THC has potentially destabilized even more than before,” Skolnick, who rates the company neutral with a $14 price target, said. “The whole situation leaves us, and likely investors, confused and concerned about the near-term results and mid-term prospects.” Tenet is scheduled to report third-quarter earnings after the bell on November 6, and the impact of recent U.S. hurricanes along with Fetter’s departure suggest the company will have a larger-than-expected earnings miss, Skolnick said. Tenet shares have plummeted 31.7% over the last three months, compared with a 4% rise in the S&P 500 .

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Stocks opened higher Tuesday, with the Dow Jones Industrial Average rising triple digits to notch an all-time high after strong earnings from Caterpillar Inc. and 3M Co. The S&P 500 and the Nasdaq Composite advanced 0.2%. The Dow rose 153 points, or 0.7%, to 23, 426, with shares of Caterpillar leading the way higher with a rise of 5.8% and 3M advancing 3.6%.

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Equifax Inc. is facing a probe from a U.K. watchdog, adding to the credit reporting company’s woes. Britain’s Financial Conduct Authority said Tuesday that it’s “investigating the circumstances surrounding a cybersecurity incident that led to the loss of U.K. customer data held by Equifax Ltd. on the servers of its U.S. parent.” Equifax disclosed a massive breach last month, and analysts have said breach-related fines and lawsuit settlements could be substantial, ranging between about $500 million to $1 billion.

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Shares of Interpublic Group of Companies tumbled 5.5% in premarket trade Tuesday, on track to open at a 2-year low, after the advertising agency missed third-quarter profit and sales expectations and cut its outlook. The company said in a statement that revenue was negatively impacted by “broader trends that are being felt throughout much of the industry.” Net income rose to $146.2 million, or 37 cents a share, from $128.6 million, or 32 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share of 31 cents was below the FactSet consensus of 33 cents. Revenue fell 1.0% to $1.90 billion, missing the FactSet consensus of $1.97 billion, as both U.S. and international revenue fell below expectations. The company cut its outlook for 2017 organic revenue growth guidance range to 1% to 2% from 3% to 4%, and its margin expansion outlook to 0.40 percentage points from 0.50 percentage points. The stock has plunged 19% over the past three months through Monday, as second-quarter results reported in July also missed expectations, while the S&P 500 has gained 3.9%.

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Shares of MoviePass majority owner Helios and Matheson Analytics Inc. ballooned nearly 22% in premarket trade on Tuesday after the movie theater subscription service said its subscriber base has surpassed 600,000 members. Two months ago the company lowered the price of its subscription to $10 a month from as much as $50. Before the price cut MoviePass had roughly 20,000 subscribers. The company said that number rose to more than 150,000 just a few days after the decrease. MoviePass said the continued growth has exceeded initial expectations. The company also said that its subscriber churn rate has been shrinking, from 4.2% in the first month to 2.4% in month two. “Month after month we aim to improve our service with faster card delivery, improved application updates and an easier-to-use web site,” MoviePass Chief Executive Mitch Lowe said in a statement. “I believe our ongoing investments in customer experience, usability and convenience have steadily improved customer satisfaction and retention.” Shares of Helios and Matheson have gained more than 300% in the year to date, while the S&P 500 index is up nearly 15% and the Dow Jones Industrial Average is up close to 18%.

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Gilead Sciences Inc. said early Tuesday that its nonalcoholic steatohepatitis therapy had positive results in a phase 2 trial. Company shares rose 0.8% in premarket trade. After 12 weeks, a higher dose of the therapy, GS-0976, was associated with statistically significant reductions in liver fat buildup and a noninvasive marker of fibrosis relative to the placebo, the company said. The clinical trial enrolled 126 patients, who either received a 20 mg dose of GS-0976, a 5 mg dose of GS-0976 or a placebo once a day. Results for the 5 mg dose relative to the placebo were not statistically significant. Nonalcoholic steatohepatitis or NASH is a common but silent disease that typically has few symptoms but can significantly harm the liver. Drugmakers have been racing to capture the market, which they expect to be worth billions of dollars. Gilead shares have surged 7.8% over the last three months, compared with a 3.9% rise in the S&P 500 .

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Shares Polaris Industries Inc. surged 5.7% in premarket trade Tuesday, putting them on track to open at the highest level since November 2015, after the off-road vehicle maker beat third-quarter profit and revenue expectations. Net income increased to $81.9 million, or $1.28 a share, from $32.3 million, or 50 cents a share, in the same period a year ago. Excluding non-recurring items, including costs to wind down Victory Motorcycles and other one-time costs, adjusted earnings per share of $1.46 beat the FactSet consensus of $1.21. Revenue rose 25% to $1.48 billion, above the FactSet consensus of $1.40 billion, as the 12% growth in off-road-vehicle/snowmobiles sales to $1.01 billion beat expectations of $939.9 million. Polaris raised its 2017 adjusted EPS guidance range to $4.75 to $4.85 from $4.35 to $4.50. The stock has soared 15% over the past three months through Monday, while the S&P 500 has gained 3.9%.

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The premarket surges in Caterpillar Inc.’s and 3M Co.’s stocks would add over 100 points to the Dow Jones Industrial Average , boosted by better-than-expected third-quarter earnings reports. Caterpillar’s stock rallied $9.07, or 6.9%, ahead of the open, on track to open at a record high. That would add about 62.5 points to the Dow’s price. 3M shares ran up $6.45, or 2.9%, in the premarket, and were also headed for a record high. That price gain would add about 44.5 points to the Dow. Dow futures climbed 125 points ahead of the open.

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McDonald’s Corp. reported third-quarter net income of $1.88 billion, or $2.32 per share, up from $1.28 billion, or $1.50 per share, for the same period last year. Adjusted EPS was $1.76, meeting the FactSet consensus. Revenue totaled $5.75 billion, down from $6.42 billion last year and in line with the FactSet estimate. The company attributed the revenue decline to its refranchising efforts. Global same-restaurant sales rose 6% for the quarter, ahead of the 4.6% FactSet consensus. McDonald’s shares are up 0.2% in Tuesday premarket trading, and up nearly 44% for the last year. The S&P 500 index up 19.2% for the past 12 months, and the Dow Jones Industrial Average is up 27.7% for the period.

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