Key Highlights

● ManpowerGroup closed lower Friday at $41.49, extending Thursday's drop after its third-quarter report.

● Third-quarter revenue was about $4.8 billion; adjusted earnings of $1.01 a share matched expectations.

● Fourth-quarter adjusted earnings guidance is $1.03 to $1.13 a share.

● Weekly jobless claims on Oct 22 and PMIs on Oct 23 are next for staffing.

A second day of losses

ManpowerGroup (NYSE:MAN) closed lower at $41.49 on Friday, per market data, after tumbling on Thursday in the wake of its third-quarter report. Market commentary described Friday's move as continued selling following the results, and no new company announcement was reported during the session. The S&P MidCap 400 member is one of the world's largest workforce-solutions companies, providing temporary and permanent staffing, recruitment and outsourcing services through brands including Manpower, Experis and Talent Solutions.

What the quarter showed

Third-quarter revenue came to about $4.8 billion, up from a year earlier, with organic constant-currency growth outpacing the headline figure, according to market reports. Adjusted earnings of $1.01 a share were in line with expectations.

For the fourth quarter, the company guided to adjusted earnings of $1.03 to $1.13 a share, citing Chief Financial Officer Jack McGinnis. CEO Jonas Prising said the Manpower brand is taking share in the United States, reports indicated.

The quarter also brought a leadership announcement. Becky Frankiewicz will become chief executive on Jan 1, 2027, and Prising will become executive chair.

The market around it

ManpowerGroup's decline came on a broadly weak day for stocks. The S&P 500 fell 84.62 points to 7,659.44, the Nasdaq Composite dropped 572.99 points to 26,140.03 and the Dow Jones Industrial Average slipped 175.28 points to 52,002.41. The Russell 2000 lost 45.90 points to about 2,721. No closing level for the S&P MidCap 400 was available.

The selloff was led by technology, where concerns about how the artificial intelligence build-out will be financed hit chip and software stocks. Stocks opened higher, then gave up their gains as selling built through the afternoon. Money moved into energy, utilities, consumer staples and health care.

Economic signals were mixed for a company tied to hiring activity. September industrial production rose more than expected, and market reports said output reached its highest level since 2018. At the same time, inflation stayed hot: September consumer prices rose faster than forecast and producer prices posted their largest monthly gain since March 2022, according to market data. The LSEG/Ipsos Primary Consumer Sentiment Index fell to its lowest since October 2011, reports showed.

Interest rates remain elevated. The 10-year Treasury yield eased to roughly 5.1 on Friday after climbing above 5.3 earlier in October, its highest level since 2002. The Federal Reserve raised rates by a quarter point in September, its first increase in three years.

ManpowerGroup Guidance Range and Jobless Claims

The Federal Reserve announces its next rate decision on Oct 28, followed by the PCE inflation report and the first estimate of third-quarter GDP on Oct 29. Fed Chair Kevin Warsh declined to preview the outcome at an IMF gathering in Bangkok. "I don't prejudge meetings," he said. Markets still price a quarter-point hike by December, per market data.

Labor-market data will be important for staffing stocks. Weekly jobless claims are due Thursday, Oct 22, and S&P Global's purchasing managers' indexes, which include employment components, arrive Friday, Oct 23, along with the University of Michigan sentiment survey.

Investors will be looking for further detail on demand trends across ManpowerGroup's markets and on progress toward the fourth-quarter guidance range. The planned leadership transition to Frankiewicz at the start of 2027 will also stay in view.