5 things to know before the stock market opens on Wednesday, October 16th

Here are five important things investors need to know to start their trading day.

Semiconductor manufacturing equipment manufacturer ASML mistakenly released its earnings report a day early and reported disappointing sales forecasts. Net sales of 7.5 billion euros ($8.17 billion) exceeded LSEG’s consensus estimate, while third-quarter net bookings were 2.6 billion euros ($2.83 billion), below expectations of 5.6 billion euros. The company said it was significantly lower. ASML stock fell 16% in after-hours Tuesday following a technical error in publishing a report on its website. The blow to stock prices spread to other semiconductor stocks, Nvidia, advanced micro device and broadcom All prices fell after the report was released.

walgreens reported fiscal fourth-quarter sales and profits that beat Wall Street expectations, thanks to cost cuts amid a difficult fiscal year. The retail pharmacy giant also said it plans to close about 1,200 stores over the next three years, and 500 in 2025 alone. Walgreens CEO Tim Wentworth said on Tuesday’s earnings call that the closures will result in a “healthier store base.” Shares rose about 13% following Tuesday’s news.

National Football League Owner Tom Brady and business partner Tom Wagner were unanimously approved Tuesday as minority owners of the Las Vegas Raiders. Mr. Wagner, founder of Knighthead Capital, and Mr. Brady, a seven-time Super Bowl champion, bought about 10% of the Raiders’ stock. The team has grown significantly since relocating from Oakland, California to Las Vegas, Nevada in 2020. They are currently the fifth most valuable franchise worth $7.8 billion, according to CNBC’s official 2024 NFL team valuations. Brady and Wagner made an equity investment of about $220 million as part of the partnership, which was valued at $3.5 billion, more than a 50% discount, according to people familiar with the negotiations.

— CNBC’s Ryan Browne, Anniek Bao, Hugh Son, Jesse Pound, Annika Kim Constantino, Jessica Golden and Michael Ozanian contributed to this report.