新闻信息流

*FRANCE-GERMANY 10-YEAR YIELD SPREAD WIDENS 8BPS TO 164BPS

GE Vernova Price Target Raised to $540.00/Share From $470.00 by GLJ Research. Ratings actions from Benzinga: https://www.benzinga.com/quote/GEV/analyst-ratings (12:12 GMT) GE Vernova Is Maintained at Sell by GLJ Research Ratings actions from Benzinga: https://www.benzinga.com/quote/GEV/analyst-ratings

Morning Juice – US Session Prep (30th October) https://features.financialjuice.com/2026/10/30/morning-juice-us-session-prep-30th-october-2/…

XOM longs surveying the carnage

Black Friday Premarket movers: All Mag 7s lower: http://Amazon.com (AMZN) plunges 7.3% as growth in the company’s Amazon Web Services cloud-computing business was seen as underwhelming; Nvidia (NVDA) -2.8%, Tesla (TSLA) -2.4%, Meta Platforms (META) -1.8%, Apple (AAPL) -1.1%, Alphabet (GOOGL) -0.7%, Microsoft (MSFT) -0.6%. Here are some of the other notable premarket movers: AI infrastructure stocks tumble following discouraging results from Amazon and Intel. Cryptocurrency-linked stocks slide after Binance suffered the industry’s biggest-ever hack in a fresh blow to efforts to push digital assets into the mainstream. Alphatec (ATEC) plunges 33% after the medical devices company reported third quarter revenue that missed the average analyst estimate. Coursera (COUR) drops 9% after the nline educational firm provided a disappointing forecast for fourth quarter revenue. DXC Technology (DXC) falls 12% after the IT services company cut its adjusted earnings per share guidance for the full year. The company also said there are ongoing talks for the possible sale of its insurance business. FedEx Freight (FDXF), which was spun off from FedEx Corp. in June, climbs 4% after posting revenue of $3.3 billion in the four months ending in September, an increase of 9.2% over the same period last year. Gilead Sciences (GILD) rises 4% after the biopharmaceutical company boosted its product sales guidance for the full year. Intel (INTC) plummets 25% after the chipmaker’s outlook was much weaker than expected, due in part to sluggishness in PCs. Mondelez International (MDLZ) is up 7% after the company said it would acquire a majority stake in Undercover Snacks, bolstering the better-for-you part of its portfolio. Newell Brands (NWL) falls 11% after the household-products maker narrowed its normalized earnings per share forecast for the full year. Pinterest (PINS) falls 8% after the social-media company reported revenue for the third quarter that missed the average analyst estimate. Reddit (RDDT) tumbles 20% after daily active users for the third quarter and a fourth-quarter revenue forecast missed expectations. Analysts also debated a plan to limit access to its forums to users with accounts. Regeneron (REGN) climbs 7% after the drugmaker posted revenue and adjusted profit for the third quarter that are ahead of Wall Street’s expectations. Rivian (RIVN) jumps 6% after the maker of electric vehicles reported revenue for the third quarter that beat the average analyst estimate. Roblox (RBLX) slides 18% as the company reported a year-over-year decline in player engagement after deploying more robust child-safety measures. Stryker (SYK) falls 11% after slashing its outlook as the medical device company struggles to shake off the lingering effects of a cyberattack. Symbotic (SYM) inches 2% higher after robotics technology firm expanded an agreement with retail giant Walmart. Twilio (TWLO) is down 18% in the latest example of a software stock tumbling in the wake of results as investors reassess the sector’s growth outlook amid growing AI adoption.

Source To CBS: Indications Of Progress Made On Iran Peace Deal Draft - CBS [链接预览] Iran War Updates: Qatar pushes for U.S.-Iran deal under shadow of Trump's threats to resume attacks

Source To CBS: Indications Of Progress Made On Iran Peace Deal Draft - CBS [链接预览] Iran War Updates: Qatar pushes for U.S.-Iran deal under shadow of Trump's threats to resume attacks

QATARI MEDIATORS IN IRAN AS US PEACE TALKS SHOW SIGNS OF PROGRESS Qatari mediators arrived in Tehran on Friday to present revised terms of a proposal aimed at ending the US-Iran conflict, according to CBS News. A source familiar with the negotiations reported indications of diplomatic progress. Iran's response is expected by the weekend, as negotiators seek to prevent renewed US military strikes threatened by President Trump.

KREMLIN SAYS UKRAINE IS IGNORING TRUMP'S REQUEST TO STOP ATTACKS ON RUSSIAN REFINERIES

SanDisk’s Earnings Beat Couldn’t Save These 4 Leveraged ETFs From a 10% Rout: What Went Wrong. Investors betting on SanDisk Corp. SNDK through leveraged ETFs took a hit on Thursday, as four 2X ETFs tracking the memory chipmaker plunged about 10% ahead of the company’s fiscal first-quarter earnings report. Leverage Shares 2X Long SNDK Daily ETF SNDG fell 10.5%, while Corgi SNDK 2X Daily ETF S SNDC declined 9.7%. T-REX 2X Long SNDK Daily Target ETF SNDU and Tradr 2X Long SNDK Daily ETF SNXX dropped 10.6% and 10.4%, respectively. The selling continued in the premarket session Friday, with the four funds losing another 17%. Why Did SanDisk’s Leveraged ETFs Fall so Sharply? The losses largely reflected the daily leverage built into these products. SanDisk shares dropped 5.32% on Thursday to close at $1,330. Since these ETFs target twice the stock’s daily return, that decline would theoretically translate into a loss of approximately 10.64% for a 2X fund, before fees and tracking differences. The company subsequently delivered a strong quarter, reporting revenue of $11.03 billion, up 378% year over year, and non-GAAP EPS of $49.51. Both exceeded analyst expectations. Its second-quarter revenue guidance of $12.2 billion to $12.6 billion also topped estimates. However, the earnings beat failed to generate a sustained recovery in the stock, suggesting that investors may have already priced in much of its AI-driven growth. What Do SanDisk’s Technical Indicators Say? SanDisk’s technical setup suggests that short-term momentum remains under pressure despite its strong underlying business performance. The stock closed at $1,330.05 on Thursday, below its 20-day moving average of approximately $1,447 and 50-day moving average of $1,567. However, it remained above its 200-day moving average near $1,255. Its Relative Strength Index (RSI) stood around 41, indicating weakening momentum but not yet oversold conditions. Meanwhile, the negative MACD reading pointed to continued bearish momentum. The combination of a weak short-term trend and support near the 200-day moving average makes the next few trading sessions important for determining whether SanDisk can stabilize or extend its correction. The Risk of Holding 2X SanDisk ETFs The four funds are designed to deliver twice SNDK’s daily percentage return, not twice its returns over weeks or months. This distinction matters because daily resets and compounding can erode returns when the underlying stock experiences repeated swings. For example, if a stock falls 10% and subsequently gains 10%, it remains down 1%. A hypothetical 2X daily ETF would fall 20% and then gain 20%, leaving it down 4%. That makes leveraged single-stock ETFs particularly vulnerable during periods of heightened volatility, even when the underlying company’s longer-term business outlook remains positive. Can SanDisk’s Stock Split Change the Equation? SanDisk has also announced an eight-for-one forward stock split, with split-adjusted trading scheduled to begin on Nov. 20. The move will lower the stock’s nominal trading price but will not change its market capitalization or the economic value of existing holdings. While the lower share price could improve accessibility for retail investors, it does not reduce the risks associated with leveraged exposure. For investors in SNDG, SNDC, SNDU and SNXX, the bigger question is whether SanDisk’s extraordinary AI-driven rally can continue without triggering further bouts of volatility.

Kremlin: Ukraine is ignoring Trump's request to stop attacks on Russian refineries.

KREMLIN: UKRAINE IS IGNORING TRUMP'S REQUEST TO STOP ATTACKS ON RUSSIAN REFINERIES

MEXICO PRELIM: 3Q GDP RISES 3.2% Y/Y; EST. +3.0%

UK Assets Get A Reprieve After The Budget

GLJ Research maintains GE Vernova at Sell, raises price target to $540 from $470. GLJ Research maintained GE Vernova at Sell and raised its price target to $540 from $470, a 14.9% increase. The price target implies a downside of 39.2% from the Oct 29 close of $887.85. Recent analyst actions on GE Vernova Date Firm Action Rating Price target Oct 29 JP Morgan Maintains Overweight $1035 Oct 29 RBC Capital Maintains Outperform $1230 Oct 29 Citigroup Maintains Neutral $1000 Oct 29 TD Cowen Maintains Buy $1125 Oct 29 Susquehanna Maintains Positive $1250 Across the five most recent analyst notes published on GE Vernova over the past 30 days, price targets range from $1000 to $1250. Explore more price target data and ratings for GE Vernova on the Forecasts tab , and track all previous and future analyst recommendations in the dedicated News Flow .

Secured Overnight Financing Rate 3.94% October 29 vs 3.94% October 28

What a difference a year makes in AI accounting. By Jeffrey Goldfarb A simple ledger entry threatens the vast AI kingdom. Spending on the chatbot boom is heading into the trillions of dollars, with servers set to devour electricity now measured in gigawatts. Yet a minor change to one small figure buried inside the books of technology giants has enough power to wobble the whole edifice. It’s a question of just how long data-center kit, including all-important specialty chips, will keep contributing cash flow. The four companies building and operating the most sprawling computational networks used to train, deploy and run large-language models have independently reached a broad consensus. After tinkering with their accounting treatment, Alphabet GOOG , Amazon.com AMZN , Meta Platforms META and Microsoft MSFT for the most part now spread the cost of graphics processing units and other equipment over five to six years. Alphabet, for example, switched to six years from four for its servers in 2023. A year later, Meta changed its server and networking equipment time-line to between five and 5.5 years from a range of between four and five years. These forecasts are of significant consequence. The longer the span, the lower the annual depreciation charge that hits the bottom line. Small tweaks imply big movements. An interactive Breakingviews calculator suggests that trimming a single year from the estimated “useful life” of these AI assets would erase some $36 billion of combined net income next year from the Big Tech foursome, theoretically leading to nearly $800 billion of lost market capitalization at their current valuation multiples. Click here to view calculator in browser. The lack of detailed disclosure in this area invites questions about whether the accounting choices match up with reality. It also will attract renewed and greater scrutiny as concerns mount about how long it will take to generate returns on all the spending. Meta, for one, just started burning cash in its most recent quarter after generating more than $150 billion in free cash flow over the previous three-and-a-half years. The social-media empire led by Mark Zuckerberg said it was holding $134 billion of servers and other related gear at the end of September and had reduced their value on the books by more than $14 billion over the first nine months of the year. Meanwhile, the cost to insure against Oracle ORCL failing to repay its debt is surging in the credit default swaps market. Cybersecurity vulnerabilities have rattled investors and prompted companies to restrict autonomous AI agents from accessing their systems. The once-mooted $2 trillion valuation for Anthropic, the lab behind robot coder Claude, in its initial public offering is now meeting investor skepticism, Reuters has reported. Among these debates, the accounting question has proved a particular flash-point. In 2025, Amazon shortened the projected useful life for a subset of its servers and networking equipment to five years from six, acknowledging the growing pace of technological development and consequently quicker lapse into obsolescence. The decision reversed two earlier extensions, from three years to four in 2020 and then from four years to between five and six in 2024. None of its major peers have followed suit, but Microsoft now discloses an unhelpfully broad range of two to six years. Accounting standards are as much art as they are science, especially when it comes to the complicated assumptions around hundreds of thousands of Nvidia NVDA GPUs at the heart of AI development. At the heart of it all is the presumed impact of technological evolution. For a while, the chipmaker followed a steady cadence, introducing new generations of its silicon architecture every two years. Then, in June 2024, boss Jensen Huang announced a new “one-year rhythm,” starting with the company’s Rubin platform. There’s little history to go on to determine how long such technology will last. Cutting-edge GPUs are most important in training advanced models, described by the industry as inhabiting the frontier. Second- or third-best designs, however, often provide sufficient computing power for fine-tuning existing models or calculating responses to user queries. An important consideration is whether older silicon, by dint of being less energy-efficient, is simply uneconomical to keep running. To gauge the effect of any changes to these assumptions, the Breakingviews calculator uses three steps. First is an estimate of just how much server kit, mostly GPUs, is on the books. This starts with the most recent change to “useful life” for each company, dividing the reported impact to operating income that accompanied the revisions by the gap between the two depreciation rates to derive the implied historical asset pool. These figures are then increased in line with the subsequent growth in AI capital expenditure at Alphabet, Amazon, Meta and Microsoft, giving a projection of how much server equipment there will be in 2027. After resetting the useful life schedules, the hit or benefit to depreciation is factored into 2027 earnings per share, based on analyst forecasts compiled by Visible Alpha before Alphabet, Amazon and Microsoft reported their latest quarterly results this week. If useful life shrinks, so does income because of the additional depreciation cost, thus reducing a company's tax liability. This, too, is incorporated into the calculations. The final step multiplies any EPS change by each company’s respective share price multiple of estimated 2027 earnings to determine the resulting gain or loss in market value. Any extension in useful life would provide an uplift in net income. It’s unlikely to happen, but recent debates from Silicon Valley to Washington, Brussels and Beijing over slowing down the pace of developing frontier models over safety concerns could mean infrastructure gets left in place for longer. A more plausible outcome is that the pace of technological improvement accelerates, old kit becomes a great burden and depreciation schedules shorten, leading to less profit. The accounting may seem like an afterthought, but it crystallizes many of the biggest concerns clouding the boom. Follow Jeffrey Goldfarb on X and Linkedin.

Marvell's optical deal looks dangerously myopic. By Karen Kwok Marvell Technology MRVL may have found an expensive shortcut in the race to move artificial-intelligence data at light speed. The $200 billion chipmaker is eyeing a potential deal to buy Lumentum Holdings LITE , Bloomberg reported on Wednesday. Doing so would give it control over more of the data center supply chain and create an AI networking giant. The strategic logic is bright; the financial returns are dimmer. Marvell designs processors and networking technology that help the likes of Amazon.com build custom chips as an alternative to Nvidia NVDA . Lumentum makes lasers and other optical components that transmit data using light, speeding up connections within and between data centers. Its shares have soared 370% in the past 12 months. Lumentum's attraction is scarcity. Boss Michael Hurlston has said some products are sold out into early 2029 and the $83 billion company is unable to meet about 70% of orders for some of its offerings through next year. Bernstein expects optical demand to exceed supply through 2028. Potential US restrictions on Chinese rivals could tighten inventory further. Buying Lumentum would allow Marvell to better compete with rival Broadcom AVGO . It is in a decent position, too. Marvell's stock trades at about 50 times expected 2027 earnings, against Lumentum's 31 times and rival Coherent's COHR 20 times, according to Visible Alpha. But any potential acquisition likely won't come cheap. Assume a 30% premium to Lumentum's share price before news of talks emerged, and it would imply a bid of approximately $108 billion. Cost savings could be chunky if Marvell could generate $1.1 billion of potential synergies - roughly 1% of the offer value and in line with similar transactions. Yet add those efficiencies to Lumentum's forecast $6.8 billion of operating profit in 2029, tax it, and the implied return of 6% falls short of Lumentum's cost of capital of 10%, according to Morningstar analysts. What's more, optical shortages could ease if technology quickly changes. Marvell would also inherit a more manufacturing-intensive business and could alienate customers that compete with Lumentum. Marvell has lost about $28 billion in market value since the talks were reported. It suggests fears of a union coming together at the frothy peak of the cycle that risks leaving shareholders in the dark. Follow Karen Kwok on LinkedIn and X. CONTEXT NEWS Marvell Technology is in advanced talks to buy data-center optics maker Lumentum Holdings, Reuters reported on October 28 citing a source familiar with the matter. Shares ⁠of Lumentum, which has a market value of roughly $83 billion, rose about 4% on October 29 in early afternoon trading. Marvell shares fell more ​than 12%.

Nebius Group announces date of third quarter 2026 results and conference call. Nebius Group N.V. (“Nebius Group” or the “Company”; NBIS ), will release its third quarter 2026 financial results on Thursday, November 12, 2026, before market open. Nebius Group will also hold a conference call to discuss its results at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time / 2:00 p.m. Central European Time) on the same day. The registration link to access the webcast and its replay will be available on Nebius Group’s Investor Relations website at https://nebius.com/investor-hub. About Nebius Nebius, the AI cloud company, is building the full-stack platform for developers and companies to take charge of their AI future — from data and model training to production deployment. Founded on deep in-house technological expertise and operating at scale with a rapidly expanding global footprint, Nebius serves startups and enterprises building AI products, agents and services worldwide. Nebius Group also includes Avride (a leading developer of autonomous vehicles and delivery robots) and TripleTen (a leading edtech platform reskilling people for careers in tech) and owns equity stakes in other companies including ClickHouse and Toloka. Nebius is listed on Nasdaq ( NBIS ) and headquartered in Amsterdam. For more information please visit www.nebius.com Media kit nebius.com/media-kit. View source version on businesswire.com: https://www.businesswire.com/news/home/20261030312119/en/

BINANCE HIT BY RECORD $6.3 BILLION CRYPTO HACK Binance reportedly lost $6.3 billion after hackers compromised an engineer's laptop and drained funds in roughly 20 minutes. Investigators linked the attack to North Korea's TraderTraitor hacking group. Around $3 billion has been frozen, with assistance from Tether and Circle. Binance says it will cover customer losses and expects to resume withdrawals.

📉 PRICE TARGET CUT $COIN: PT cut to $174 from $183 by Jefferies $COIN: PT cut to $145 by Mizuho (prior target not provided) $COIN: PT cut to $120 from $149 by Barclays $COIN: PT cut to $174 from $200 by Wells Fargo $COIN: PT cut to $275 from $300 by Canaccord $COIN: PT cut to $197 from $205 by Needham $COIN: PT cut to $165 from $187 by Compass Point

Meta Faces U.K. Antitrust Probe Over Publisher Content Use. By Edith Hancock Meta Platforms faces an investigation from the U.K.'s competition regulator over potential new business terms that would allow the company to collect content from publishers to power its own products such as artificial intelligence tools. The Competition and Markets Authority said Friday that Meta's potential terms change could unfairly harm publishers and advertisers that use its popular social media platforms. The planned terms, which Meta has since put on hold, could allow the company to collect content from the websites of publishers without offering them a choice about if or how their content is used. The tech giant had originally planned to introduce the changes today, but has since paused the rollout pending talks with industry groups, the CMA said. A Meta spokesperson said in a statement that there are no grounds for an investigation. "We've already committed not to change our terms without consulting publishers and other stakeholders," the spokesperson said. The regulator said no decision has yet been made over whether Meta broke U.K. competition law. Write to Edith Hancock at edith.hancock@wsj.com

Stdent-loan payments are pushing people to slash their budgets and delay life milestones, per BI It comes as consumer stress is mounting: 1 in 5 Americans is behind on at least one loan, the highest since 2010, and real wages have fallen for about six months as inflation outpaces pay.

[转推] zerohedge reposted $4 trillion wiped out from the Mag 7. Four of the seven are now in bear market territory. More than 60% of S&P 500 stocks are down at least 20% from their highs. The tech carnage is getting extreme. [链接预览] The Great Tech Unwind: Nasdaq Hits Make-Or-Break Levels

Needham maintains Intel at Hold. Needham maintained Intel at Hold. Recent analyst actions on Intel Date Firm Action Rating Price target Oct 30 Cantor Fitzgerald Maintains Neutral $90 Oct 30 Roth Capital Downgrades Neutral $70 Oct 30 B of A Securities Downgrades Neutral $100 Oct 27 Rosenblatt Maintains Sell $80 Oct 27 Wedbush Reiterates Neutral $98 Across the five most recent analyst notes published on Intel over the past 30 days, price targets range from $70 to $100. Explore more price target data and ratings for Intel on the Forecasts tab , and track all previous and future analyst recommendations in the dedicated News Flow .

*TRUMP: DON'T KNOW WHO TO TALK WITH, A LOT OF IRAN LEADERS GONE *TRUMP: IRAN HAS TO MAKE A DEAL

SpaceX Hits Back at T-Mobile’s ‘Misplaced Desire’ to Harm Starlink by Opposing ‘Modernized’ Spectrum Rules. Billionaire Elon Musk -led Space Exploration Technologies Corp. SPCX slammed legacy telecom operators like T-Mobile US Inc. TMUS in a letter to the Federal Communications Commission (FCC) over the agency’s proposed spectrum rule changes. SpaceX Slams ‘Misplaced Desire’ In the letter dated October 28, SpaceX said that the agency should reject the “technically unsound recommendations from the Aerospace and Flight Test Radio Coordinating Council (AFTRCC) and T-Mobile,” which want power limits on satellite transmissions, saying the signals could interfere with flight telemetry tracking systems. “Unfortunately, the misplaced desire to harm a competitor has led many incumbents to oppose modernized rules that would bring direct-to-cell service to underserved border communities,” SpaceX said. “AFTRCC is now purely a lobbying organization whose mission is to protect legacy companies and their comments should not be viewed as independent or objective,” SpaceX alleged in the letter. Base Station Protection SpaceX also slammed T-Mobile’s base station protection demands, which, the commercial space flight giant says, would create 250-mile-wide buffer zones around cell towers, which would lead to “disenfranchising millions from direct-to- cell service in the countries where the limit is applied.” SpaceX urged the FCC to reject the base station protection plea from T-Mobile. SpaceX also said that the cell tower antennas were directional and therefore “inherently more resilient to interference” from satellite signals and transmissions. “The Commission should not adopt T-Mobile’s proposed limits for base-station protection,” SpaceX said in the letter. Earlier this month, Musk had predicted that the telecom industry was about to experience an “earthquake” after SpaceX acquired 800 MHz spectrum. Verizon CEO on SpaceX The letter comes as Verizon Communications Inc. VZ CEO Dan Schulman , during the telecom operator’s recent Q3 2026 earnings call, said that SpaceX would have to spend $500 billion to compete with traditional cellular service providers. Other telecom company executives have also been skeptical of SpaceX’s cellular service, which would rely on femtocells, which are small cellular base stations that improve connectivity. AT&T Inc. ‘s T CEO John Stankey had dismissed Starlink’s mobile service talks, saying that the technology had to overcome regulatory hurdles, as well as technological limitations. On the other hand, T-Mobile’s CFO Pete Osvaldik also remained skeptical about Starlink’s threat to telecom operators . “You can have a million satellites up there with all the spectrum in the world; you can’t break the fundamental laws of physics,” he said.

*TRUMP BRIEFED THURS. ON POTENTIAL MILITARY OPTIONS IN IRAN: FOX

TRUMP ON IRAN WAR- IT'S GOING TO GET WRAPPED UP SOON -KCMO RADIO INTERVIEW; WE NEED A GUARANTEE THERE WILL NEVER BE A NUCLEAR WEAPON

AbbVie Q3 2026 Earnings - Q3 Adj EPS: $3.82 (est $3.74) - Humira Rev: $683M (est $679.3M) - Skyrizi Rev: $5.78B (est $5.74B) - Net Rev: $17.40B (est $17.34B) - Imbruvica Rev: $522M (est $527.3M) - Rinvoq Rev: $2.71B (est $2.7B) - Sees FY Adj EPS: $13.95 To $13.99 (prev guidance $13.76 To $13.96)

$ABBV | AbbVie Q3 2026 Earnings - Q3 Adj EPS: $3.82 (est $3.74) - Skyrizi Rev: $5.78B (est $5.74B) - Net Rev: $17.40B (est $17.34B) - Imbruvica Rev: $522M (est $527.3M) - Rinvoq Rev: $2.71B (est $2.7B) - Sees FY Adj EPS: $13.95 To $13.99 (prev guidance $13.76 To $13.96)

A Big Tech Selloff and Crypto Heist to Start the Day. Next Week Brings Apple Earnings and Midterms. — Barrons.com. By Rupert Steiner Good morning and where to start. Amazon and Intel have sparked a big tech selloff in today's premarket trading, with earnings that didn't quite reach various high bars. There was still pain from the previous day, with Google owner Alphabet shedding almost half a trillion in market value and suffering its worst single-day decline in history. And there's been a crypto heist. The $6.3 billion figure is so high, it's hard to grasp the scale of what's been taken at privately owned Binance. The price of Bitcoin is falling, along with connected stocks Coinbase and Circle. It's tempting to unleash a raft of Halloween-themed puns, but I'll spare you. It's almost the end of the week, and Nasdaq 100 futures are not pretty. The S&P 500 is also down, but the Dow Jones Industrial Average is on track to open a touch higher. Get the latest here. Among the biggest stock gainers is ExxonMobil, which said in its earnings update that it would return more money to shareholders. And peer Chevron also benefitted from conflicts in Europe and the Middle East driving up oil and gas prices. Next week promises more excitement, and likely a few horrors, too (I couldn't resist). Monday kicks off with an update from Apple, there's AMD, Palantir, and Pfizer earnings later in the week, along with the midterm elections. Get rested and enjoy the weekend. P.S. Feel free to get in touch with any thoughts and comments. You can subscribe to the Barron's Daily newsletter here. We want to hear from you! Send your feedback to thebarronsdaily@barrons.com 📈 Here's what's happening in markets today: Tech stocks are sliding again after earnings from Amazon and Intel. Intel, Amazon, Reddit, Chevron, Exxon, and more stocks that explain today's market. The one factor linking Big Tech's underwhelming earnings. Binance's $6.3 billion crypto hack strikes at heart of Bitcoin's trillion dollar industry. Coinbase, Strategy, and Circle aren't Binance. Crypto investors should still worry. Chevron beats sky-high targets as oil prices surge. Exxon raises its dividend yet again as oil-price rally boosts earnings. There are 3 questions to answer before a possible Tesla and SpaceX merger. Tech earnings sink SpaceX stock. No other companies meet Elon Musk's high bar. 🤖 Big Tech's big moneymakers are stumbling The investing world revolves around artificial intelligence these days, but Amazon suffered the same fate as Alphabet the day before. The legacy business that had made it famous underperformed expectations in the third quarter. Both stocks were sharply lower. Read about it here. 💻 At Intel, these two things overshadowed growth Intel's earnings report highlighted both the intense demand for artificial-intelligence chips and the setbacks companies can face in supplying them. AI business grew, while the PC business dragged. Disappointing fourth-quarter guidance was affected by a fatal plant explosion. Read more about its earnings here. 💵 Microsoft's new bonds add to market's AI debt spree Microsoft has followed its Big Tech peers into the market with a mega bond sale to raise capital for the AI buildout. The world's largest software company issued $25 billion in debt and was greeted with robust demand, according to reports. Read more about it here. ? Starbucks is winning back customers and profits Starbucks reported its fifth consecutive quarter of comparable-sales growth, as CEO Brian Niccol's "Back to Starbucks" strategy gains traction. Operating margins expanded for a third straight quarter, suggesting its costly investments are paying off. Read more here. 👀 Reddit's earnings highlight its Google problem The social media platform Reddit displayed weaker-than-expected user growth as traffic trends continue to face pressures from Google search updates. Third-quarter daily active users rose 12% from a year ago, but search traffic is sinking. Read more about it here. 📰 Don't miss out on our other newsletters Review & Preview: Don't Call It a Tech Wreck Barron's Tech: Tech's Prop 40 Conundrum Global Signals: The Next Paris 💊 Eli Lilly sees cancer drugs as the next growth drivers Eli Lilly delivered another monster quarter fueled by its runaway obesity drugs. But the drugmaker's finance chief is eager to talk about something in the future: cancer care. Lilly's challenge over the coming decade is proving it won't be defined by weigh- loss drugs. Read more here. 💬 Quote of the day: Other headlines moving markets: Big Tech earnings couldn't ignite chip stocks. What semis need now. Anthropic is a revolutionary business, but its IPO is still an enormous gamble. 'This is a knife fight:' Inside China's ruthless EV blitz upending the world. Half of 'Big Money' managers say the AI boom has years left to run. Sandisk reports another big earnings beat. Investors may have wanted more. Coinbase shrugs off stagnant crypto market with surprise profit. Lower guidance clouds First Solar despite light on the horizon. ServiceNow stock is worst in S&P 500 based on this key number. How much Anthropic matters to SpaceX and other gems. FedEx shrugs off rising fuel costs. Guidance rattled the stock. Pinterest stock sinks as signs point to slower revenue growth. Rivian earnings show there is still life in the EV market. Boeing earnings were great for GE Aerospace. The FTC lawsuit could burn Toast's image more than its stock. Gilead's HIV franchise powers earnings beat. The rest is a work in progress. Charles Schwab eyes EFT expansion. What's in the pipeline. It's time to sell the refiners. With Vegas struggling, bet on this regional casino heavyweight. Tax-loss harvesting in bonds? This year it's a big deal. Edited by Liz Moyer and Stacy Ozol This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

Nasdaq futures sink as Amazon, Intel intensify AI spending fears. By Shashwat Chauhan and Tharuniyaa Lakshmi Nasdaq futures slid more than 2% on Friday after Amazon's plans for continued heavy AI spending and Intel's warning of cash burn this year deepened investor concerns about escalating costs of AI infrastructure buildout and the timeline for returns. Shares of Amazon.com AMZN were down 6.3% in premarket trading after the company reported a sharp cash outflow in the third quarter and signaled another increase in capital expenditure next year, on top of already elevated outlays. Intel INTC tanked more than 25% after the chipmaker warned it would burn cash this year due to a weak market for personal computers, manufacturing bottlenecks and heavy spending to expand production. Amazon and Intel were set to wipe out about $300 billion in combined market value, if losses hold, putting the Nasdaq-100 NDX on track to erase roughly $950 billion. That would add to the index's close to $1.4 trillion loss in market value so far this month. "If we summarize the Big Tech results: cloud growth was strong, but the companies are spending huge amounts to deliver that growth. Together, Amazon, Google, Microsoft and Meta spent more than $200bn in the third quarter alone," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. "Moving forward, the risk is that higher financing costs will absorb more of the cash generated, leaving less to fund expansion and repay debt." Several companies have tapped the bond market to fund their hefty AI investments, fueling concerns that higher borrowing costs could make such spending harder to justify. Alphabet GOOG slipped 0.6%, extending losses after a record selloff in the previous session when the Google parent reported disappointing results in its search-advertising business and a sharp increase in cash outflows. Meta META also reported cash burn in the September quarter, while Microsoft MSFT stood out by delivering a big cash-flow beat even as it raised $25 billion through a debt sale. The broader semiconductor space was under pressure, with Nvidia NVDA down 3% and AMD AMD sliding 8.7%. Energy giants Chevron CVX and Exxon Mobil XOM rose 1.5% each, after reporting third-quarter profits above estimates. At 07:14 a.m. ET, Dow E-minis (YMcv1) were up 88 points, or 0.17%, S&P 500 E-minis (EScv1) were down 79.5 points, or 1.03%, and Nasdaq 100 E-minis NQ1! were down 713 points, or 2.41%. The S&P 500 CBOE:SPX and the Nasdaq IXIC were on course for weekly gains, as the AI trade got a brief reprieve earlier this week when Anthropic unveiled its US IPO filing. The Nasdaq, however, was set to break a two-month winning streak in October, while the S&P 500 and Dow DJI remained on track for gains. Nine of the 11 S&P 500 sectors were set for monthly gains, barring communication services S5TELS , which was headed for its worst month since April 2022, and technology S5INFT . The concerns around AI spending coincide with expectations that the Federal Reserve would raise interest rates by more than 50 basis points by mid-2027, according to LSEG data, even after the central bank held rates steady earlier this week, as expected. Analysts largely viewed the decision as a "pause", with many expecting the Fed to resume tightening as soon as December. Among other movers, social media platform Reddit RDDT slid 19.5% after CEO Steve Huffman warned that total daily active unique visitors could fall by a low double-digit percentage in the fourth quarter.

$ABBV AbbVie Q3 Earnings Adj. EPS $3.82, est. $3.74 Net rev. $17.40B, est. $17.34B Skyrizi rev. $5.78B, est. $5.74B Rinvoq rev. $2.71B, est. $2.70B Humira rev. $683M, est. $679.3M Imbruvica rev. $522M, est. $527.3M Sees FY Adj. EPS $13.95 to $13.99, saw $13.76 to $13.96

investingLive European session wrap: AI spending fears spook tech stocks; dollar falls alongside yields, gold [链接预览] investingLive European session wrap: AI spending fears spook tech stocks; dollar falls alongside...

IRAN NAVY: IT DESTROYED US UNMANNED VESSEL IN EASTERN STRAIT OF HORMUZ - STATE MEDIA; NO US CONFIRMATION

Terrifying Study Reveals Truth About Flying That Could Make You Never Want To Board A Plane Again

Iran Navy: Destroyed US unmanned vessel in Eastern Strait of Hormuz - State Media; no US confirmation.

IRAN NAVY SAYS IT DESTROYED US UNMANNED VESSEL IN EASTERN STRAIT OF HORMUZ - STATE MEDIA; NO US CONFIRMATION

TRUMP BRIEFED THURS. ON POTENTIAL MILITARY OPTIONS IN IRAN- FOX

Ethereum tumbles as Binance hack triggers risk-off wave across crypto markets. What's next?

Investors No Longer Cheering on AI Spending — Market Talk. Investors are no longer encouraged by big spending on artificial intelligence, as fears over frontier labs and higher interest rates weigh on the AI boom, Amati Global Investors' Moikhail Zverev says. "The market sort of flipped. AI spending is now bad news, not good news." Shares in Alphabet and Amazon have both suffered this week after the companies committed to huge spending on AI. As well as fears over the impact of higher borrowing costs, investors worry about competition from open-source models and Chinese labs to OpenAI and Anthropic, Zverev says. "I'm not sure frontier labs have that sustained advantage, and therefore I'm not sure that the capex bubble feeding that monster is sustainable." Amazon shares fall 6.5% premarket, while Alphabet shares nudge 0.75% lower after dropping 13% Thursday.(josephmichael.stonor@wsj.com)

Trump briefed Thursday on potential military options in Iran - Fox

Trump on Iran: We need a guarantee there will never be a nuclear weapon.

TRUMP SAYS DON'T KNOW WHO TO TALK WITH, A LOT OF IRAN LEADERS GONE; IRAN HAS TO MAKE A DEAL

TRUMP ON IRAN: WE NEED A GUARANTEE THERE WILL NEVER BE A NUCLEAR WEAPON

Trump: Iran has to make a deal.

TRUMP ON IRAN WAR: IT'S GOING TO GET WRAPPED UP SOON -KCMO RADIO INTERVIEW

Meta Faces U.K. Antitrust Probe Over Publisher Content Use. By Edith Hancock Meta Platforms faces an investigation from the U.K.'s competition regulator over potential new business terms that would allow the company to collect content from publishers to power its own products such as artificial intelligence tools. The Competition and Markets Authority said Friday that Meta's potential terms change could unfairly harm publishers and advertisers that use its popular social media platforms. The planned terms, which Meta has since put on hold, could allow the company to collect content from the websites of publishers without offering them a choice about if or how their content is used. The tech giant had originally planned to introduce the changes today, but has since paused the rollout pending talks with industry groups, the CMA said. A Meta spokesperson said in a statement that there are no grounds for an investigation. "We've already committed not to change our terms without consulting publishers and other stakeholders," the spokesperson said. The regulator said no decision has yet been made over whether Meta broke U.K. competition law. Write to Edith Hancock at edith.hancock@wsj.com

Cantor Fitzgerald maintains Robinhood Markets at Overweight, lowers price target to $120 from $150. Cantor Fitzgerald maintained Robinhood Markets at Overweight and lowered its price target to $120 from $150, a 20.0% decrease. The price target implies an upside of 31.0% from the Oct 29 close of $91.59. Recent analyst actions on Robinhood Markets Date Firm Action Rating Price target Oct 28 JP Morgan Maintains Neutral $114 Oct 28 Goldman Sachs Maintains Buy $128 Oct 28 Barclays Maintains Overweight $115 Oct 28 Wells Fargo Maintains Equal-Weight $100 Oct 28 Scotiabank Maintains Sector Outperform $124 Across the five most recent analyst notes published on Robinhood Markets over the past 30 days, price targets range from $100 to $128. Explore more price target data and ratings for Robinhood Markets on the Forecasts tab , and track all previous and future analyst recommendations in the dedicated News Flow .