{"id":73805,"date":"2026-10-29T06:38:18","date_gmt":"2026-10-29T10:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/ecb-president-lagarde-to-step-down-early-l3harris-and-bunge-beat-q3-estimates\/73805\/"},"modified":"2026-10-29T06:38:18","modified_gmt":"2026-10-29T10:38:18","slug":"ecb-president-lagarde-to-step-down-early-l3harris-and-bunge-beat-q3-estimates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/ecb-president-lagarde-to-step-down-early-l3harris-and-bunge-beat-q3-estimates\/73805\/","title":{"rendered":"ECB President Lagarde to Step Down Early; L3Harris and Bunge Beat Q3 Estimates"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>ECB President Christine Lagarde<\/strong> announced she will step down on <strong>February 7, 2027<\/strong>, roughly nine months before her eight-year term was set to expire.<\/li>\n<li><strong>L3Harris Technologies (<a href=\"\/stock\/LHX\">LHX<\/a>)<\/strong> reported a <strong>33% jump in Q3 EPS to $3.28<\/strong>, beating estimates and raising its full-year guidance on the back of a record <strong>$53.2 billion backlog<\/strong>.<\/li>\n<li><strong>Bunge Global (<a href=\"\/stock\/BG\">BG<\/a>)<\/strong> surpassed Q3 earnings expectations with an <strong>adjusted EPS of $2.56<\/strong> on <strong>$23.8 billion in revenue<\/strong>, maintaining its full-year outlook despite geopolitical headwinds.<\/li>\n<li><strong>Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> revealed in its Q3 filings that it holds <strong>$75.2 billion in SpaceX shares<\/strong>, highlighting the significant valuation of its stake in the private aerospace firm.<\/li>\n<li><strong>Japan&#39;s Prime Minister Sanae Takaichi<\/strong> confirmed a plan to gradually phase out gasoline subsidies starting in <strong>December<\/strong>, raising benchmark prices by <strong>5 yen per month<\/strong>.<\/li>\n<\/ul>\n<h2>Central Banking: Lagarde Announces Early Departure<\/h2>\n<p>In a surprise move, <strong>European Central Bank (ECB)<\/strong> President <strong>Christine Lagarde<\/strong> informed the Governing Council on Thursday that she will resign effective <strong>February 7, 2027<\/strong>. While her term was originally scheduled to end in October 2027, the early exit triggers an immediate search for a successor, which European Council President <strong>Ant\u00f3nio Costa<\/strong> confirmed would begin today.<\/p>\n<p>The announcement comes at a critical juncture for the Eurozone as it grapples with cooling economic sentiment. October data showed <strong>Eurozone Economic Sentiment<\/strong> falling to <strong>96.9<\/strong>, missing the estimated 97.5, while consumer confidence remained deeply negative at <strong>-17.9<\/strong>.<\/p>\n<h2>Defense and Agribusiness: Strong Q3 Earnings Beats<\/h2>\n<p>Defense contractor <strong>L3Harris Technologies (<a href=\"\/stock\/LHX\">LHX<\/a>)<\/strong> delivered a robust third-quarter performance, reporting revenue of <strong>$6.06 billion<\/strong>, which exceeded the <strong>$5.91 billion<\/strong> consensus. The company\u2019s record backlog of <strong>$53.2 billion<\/strong> was bolstered by a significant <strong>$6.3 billion THAAD propulsion award<\/strong>. Consequently, L3Harris raised its <strong>FY26 EPS guidance<\/strong> to a range of <strong>$12.25\u2013$12.35<\/strong>, up from the previous $11.80\u2013$12.00.<\/p>\n<p><strong>Bunge Global (<a href=\"\/stock\/BG\">BG<\/a>)<\/strong> also posted strong results, with net sales of <strong>$23.80 billion<\/strong> beating the <strong>$23.38 billion<\/strong> estimate. Adjusted EBIT reached <strong>$846 million<\/strong>, driven by strong performance in its soybean and softseed processing segments. Despite the beat, the company maintained its full-year adjusted EPS guidance of <strong>$9.25 to $9.75<\/strong>, citing a &quot;complex environment&quot; marked by shifting trade flows.<\/p>\n<h2>Energy and Industrials: GE Vernova Target Cut; Japan Subsidy Shift<\/h2>\n<p><strong>Citigroup<\/strong> adjusted its outlook on <strong>GE Vernova (<a href=\"\/stock\/GEV\">GEV<\/a>)<\/strong>, lowering its target price to <strong>$1,000<\/strong> from <strong>$1,125<\/strong>. The cut follows a broader trend of analysts re-evaluating the industrial giant&#39;s valuation after a massive year-to-date rally. Despite the target reduction, the firm remains focused on its <strong>$176 billion backlog<\/strong> and the recent <strong>$9 billion acquisition<\/strong> of Trench Group to expand its grid-equipment business.<\/p>\n<p>In Japan, Prime Minister <strong>Sanae Takaichi<\/strong> announced a strategic shift in energy policy. The government will begin lifting the basis price for gasoline subsidies by <strong>5 yen per month<\/strong> starting in December. To offset the impact on households during the winter, the administration will re-introduce subsidies for <strong>electricity and gas<\/strong> bills.<\/p>\n<h2>Geopolitics and Security: Cyber Probes and Infrastructure Strikes<\/h2>\n<p>The <strong>Pentagon<\/strong> is officially investigating a series of military freezer malfunctions from August as a suspected <strong>cyberattack<\/strong>. Investigators are reportedly coordinating with French authorities, who saw similar &quot;rogue freezer&quot; behavior in commercial supermarkets where temperatures were remotely spiked to spoil food supplies.<\/p>\n<p>In the ongoing conflict in Ukraine, a <strong>Russian jet-powered drone<\/strong> struck a passenger train station in <strong>Dnipro<\/strong> on Thursday morning. Local authorities confirmed at least <strong>13 people were killed<\/strong> and several others injured when the drone hit a platform where a train was preparing to depart for Zaporizhzhia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways ECB President Christine Lagarde announced she will step down on February 7, 2027, roughly nine months before her 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