DoorDash reported third-quarter earnings that missed analyst expectations and said it expects to spend “several hundred million dollars” on new initiatives and development in 2026. CNBC's MacKenzie Sigalos joins 'Squawk on the Street' to with the details.

Texas

DoorDash shares dropped by nearly 15% following an earnings report that missed expectations and a warning about higher investment costs through 2026. The company reported accelerated revenue growth of 27% and beat on both revenue and orders, but investors focused on profitability concerns.

DoorDash announced plans to spend several hundred million dollars next year on technology upgrades, robotics, and the integration of its $3.9 billion Deliveroo acquisition. While some analysts see the spending as constructive and expect concerns to fade, others remain cautious due to competition and potential short-term earnings impact.

DoorDash stock sinks as company misses earnings

Speaking of movers, by the way, DoorDash shares are down rather sharply. You see that almost 15% after a miss on earnings. Mackenzie Segalis is here, and she's got more for us. Mack. Hey, David. So DoorDash, it is in sell-off mode after missing on earnings and warning of rising investment costs heading into 2026. Now, the company beat on revenue and orders, showing no sign of consumer weakness. You were just talking to the Chime CEO about that. And it actually saw revenue growth accelerate to 27%. But the street, it is zeroed in on profitability. DoorDash says that it plans to spend several hundred million dollars next year to overhaul its core tech infrastructure, including new investments in robotics, back-end upgrades, and the integration of Deliveroo, its $3.9 billion UK acquisition that's meant to give it a foothold in Europe. Now, the company says the goal is to build a unified global tech stack across all of its brands and to future-proof the platform for artificial intelligence. But that reinvestment push, it has spooked investors, with shares down as much as 20% during the earnings call on Wednesday. Now, some on Wall Street, they say the reaction is overdone. Bank of America calling the spending constructive and expects concerns to fade quickly, noting that many of these investments are one-time in nature, which could clear the way for better margin growth by 2027. UBS, though, they're more cautious. It cut its price target and flagged the bear case, rising competition, ongoing margin pressure, and Amazon's growing push into same-day grocery delivery. And that new global platform, they say it could drag on earnings in the near term, even if it's a smart long-term play. Guys? OK. Thank you very much, Mackenzie. We're seeing it in the share price today.

Russian President Vladimir Putin ordered his government to submit proposals to potentially resume testing nuclear weapons. This comes after President Trump directed the Pentagon to resume nuclear weapons testing "on an equal basis" with other countries.

Moscow

Putin orders proposals for resuming nuclear weapons testing

The Supreme Court heard arguments on Wednesday regarding President Trump's authority to impose tariffs unilaterally. CBS News' Katrina Kaufman has more.

Washington

Global Tariffs

Supreme Court justices appear skeptical of Trump's tariffs policies

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Republicans and Democrats trade blame as shutdown drags on

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Manila

Dozens killed as Typhoon Kalmaegi hits central Philippines

President Trump hosted a breakfast for Republican senators at the White House on Wednesday morning, where he urged them to end the filibuster as the government shutdown hits a historical milestone.

Trump doubles down on Republicans as government shutdown makes history

At least nine people were killed, officials say, after a UPS cargo plane crashed near the airport in Louisville, Kentucky. Video shows the jet's left wing on fire as it tries to take off before quickly losing altitude and exploding.

Louisville

Video shows moment UPS plane crashes in Kentucky, killing nine

People around the world are reacting to Zohran Mamdani's win in the New York City mayoral race against former New York Gov. Andrew Cuomo and Republican Curtis Sliwa. CBS News' Ramy Inocencio spoke to Mamdani's mentor in his native Uganda about the election results.

New York

World reacts to Zohran Mamdani's win in NYC mayoral race

Typhoon Kalmaegi left a trail of destruction in the central Philippines, as the powerful storm unleashed heavy rains and floods across Visayas islands region. It's now headed towards the South China Sea and Vietnam where preparations are underway ahead of its expected landfall.

Visayas

Deadly Typhoon Kalmaegi lashes Philippines, heads towards Vietnam

A centuries-old legislative practice in the U.S Senate is being blamed as the latest roadblock in resolving the federal government shutdown. That shutdown is now in its 35th day—equaling the longest in the country's history.

Filibuster blamed for deepening U.S government shutdown

Injuries have been reported after a UPS plane crashed near the Louisville International Airport on Tuesday, officials said.

UPS plane crashes near airport in Kentucky, officials say

The U.S. Senate's 14th vote on a House-passed continuing resolution to fund the government has failed, setting up the shutdown to become the longest ever in American history.

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A new UN report reviews the gap between countries’ climate commitments and global emissions targets.

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Peru has severed diplomatic relations with Mexico after learning that former prime minister Betssy Chávez, accused of helping ex-president Pedro Castillo attempt a coup in 2022, has taken refuge in the Mexican embassy in Lima.

Lima

Peru cuts ties with Mexico over asylum for ex-prime minister

Former U.S. Vice President Dick Cheney has died at the age of 84. He was a major force in the Republican party for more than 30 years and served as vice president under former President George W. Bush.

Former U.S. Vice President Dick Cheney dies at 84

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Al Fashir

United States working to secure a humanitarian truce in Sudan

The Trump administration says it will restart the Supplemental Nutrition Assistance Program, but will only pay half the amount people usually get. The move comes after two federal judges ruled that freezing payments for the U.S.'s biggest anti-hunger program is unlawful.

Trump administration will partially restore food benefit funding

Manufacturing giant Kimberly-Clark is set to acquire Kenvue, the maker of Tylenol, for $48.7 billion. CBS News MoneyWatch correspondent Kelly O'Grady has more details.

Kimberly-Clark to buy Tylenol maker Kenvue for nearly $50 billion

Russia said on Monday that its troops had advanced in the eastern Ukrainian city of Pokrovsk, a transport and logistics hub that they have been trying to capture for over a year, but Ukraine said its forces were holding on.

Pokrovsk

Ukraine Invasion

Ukraine sends special forces to Pokrovsk

Israeli police have arrested a former military prosecutor after she leaked a video appearing to show soldiers abusing a Palestinian detainee. Major General Yifat Tomer-Yerushalmi was detained overnight on Monday following a scandal that erupted after she leaked a video, resigned and then disappeared.

Jerusalem

Middle East Conflict

Israel arrests ex-army lawyer over leaked video showing abuse

U.S. President Donald Trump told 60 Minutes he thinks Venezuelan President Nicolas Maduro's days are numbered amid the U.S. striking another boat in the Caribbean allegedly transporting drugs.

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A mayor in Mexico's western state of Michoacan was shot dead in a plaza in front of dozens of people who had gathered for Day of the Dead festivities, authorities said. Local politicians in Mexico are frequently victims of political and organized crime violence.

Michoacán

Mexican mayor killed during Day of the Dead celebrations

A 6.3-magnitude earthquake struck near the northern Afghan city of Mazar-e Sharif early on Monday, killing at least 20 people, injuring hundreds and damaging the city's historic Blue Mosque, authorities said, with the death toll likely to rise.

Mazar-i-Sharif

Deadly earthquake rocks northern Afghanistan

More than 200,000 people are expected to attend the Los Angeles Dodgers' victory parade on Monday after they won the World Series over the weekend. The Dodgers defeated the Toronto Blue Jays in 11 innings in Game 7 to become the first team in 25 years to win back-to-back World Series.

Los Angeles

Dodgers to hold championship parade after World Series victory

A 32-year-old man suspected of carrying out a bloody stabbing on a United Kingdom train is facing at least 10 criminal charges. CBS News' Ramy Inocencio has the latest.

London

UK train stabbing spree suspect faces attempted murder charges

Hamas handed over bodies of three hostages on Sunday (November 2), even as the Palestinian militant group traded blame with Israel for violations of the tenuous truce that has mostly halted two years of war.

Tel Aviv-Yafo

Hamas hands over three more hostage bodies amid fragile ceasefire

Israel has threatened to increase attacks on Hezbollah in southern Lebanon if the Lebanese government doesn't disarm the militant group, despite a ceasefire.

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U.S President Donald Trump has long promised to build a ballroom on the White House campus.
He originally said it wouldn’t touch the existing structure. But after just four days, the East Wing is gone. Torn down to make way for a much bigger ballroom than originally planned.

Breakdown