Tesla (NASDAQ:TSLA) – Tesla sold 68,280 China-made vehicles in October, a 5.3% drop from the previous year, with Model 3 and Model Y deliveries down 22.7% month-over-month. Tesla extended its interest-free financing for certain models into November after exceeding third-quarter profit expectations but was outperformed by BYD in revenue. Additionally, Tesla sold $499 million in securities based on loans for solar equipment customers. Deutsche Bank led the transaction, with Fitch Ratings giving investment-grade ratings to all tranches due to customers’ strong credit quality. Demand exceeded supply, with a 4.83% coupon on the main tranche. CEO Elon Musk faced a legal setback regarding severance claims from former Twitter executives dismissed during his 2022 acquisition. A judge allowed former executives, including Parag Agrawal, to proceed with claims that Musk strategically fired them to avoid severances. Similar cases against Musk continue. Shares fell 1.2% premarket.
Intel (NASDAQ:INTC), Nvidia (NASDAQ:NVDA), Sherwin-Williams (NYSE:SHW) – Intel will be removed from the Dow Jones Industrial Average after 25 years, replaced by Nvidia and Sherwin-Williams, underscoring Nvidia’s rise in the chip sector and Intel’s struggles. Nvidia, a leader in AI chips, has seen its stock soar with the AI boom, while Intel faces market value declines and competitive challenges. The index exit may impact Intel’s stock, removing it from Dow-tracking ETFs. Intel shares fell 2.4% premarket, while Sherwin-Williams rose 5.6%.
Nvidia (NASDAQ:NVDA) – Nvidia CEO Jensen Huang requested SK Hynix to accelerate the delivery of next-generation HBM4 memory chips by six months, initially set for the second half of 2025. The request reflects high demand for higher-capacity chips essential for Nvidia’s AI-oriented GPUs, a sector where the company holds global dominance. Shares rose 2.3% premarket.
Air Transport Services Group (NASDAQ:ATSG) – Stonepeak is in advanced talks to acquire ATSG, an aircraft leasing and cargo transport company, for approximately $3.1 billion. The offer is $22.50 per share, a 30% premium over ATSG’s last price, with a possible announcement as early as Monday. Shares rose 20.6% premarket.
Viking Therapeutics (NASDAQ:VKTX) – Viking Therapeutics reported promising results for its oral weight-loss drug VK2735, showing an average 8% weight reduction in obese adults after four weeks at the highest dose. This outcome surpasses other oral drugs in development, with JPMorgan analysts calling it an “excellent result” and noting its tolerability at higher doses. Shares rose 24.2% premarket.
Novo Nordisk A/S (NYSE:NVO) – Novo Nordisk’s semaglutide injection, sold as Ozempic and Wegovy, is expected to become the world’s top drug franchise in 2024, with a market of up to $130 billion by 2030. To maintain leadership, Novo is betting on CagriSema, combining semaglutide and cagrilintide, aiming to improve weight-loss efficacy over Wegovy and Eli Lilly’s Zepbound. However, CagriSema faces production challenges and potential side effects, with investors closely watching December’s clinical results. Additionally, Wegovy showed efficacy in treating obesity-related liver disease in an advanced study, improving liver fibrosis in 37% of patients and resolving the disease in 62.9%. With regulatory approval expected by 2025, Wegovy could expand its use beyond weight loss, benefiting patients with MASH and enhancing its value to insurers. Shares fell 1.0% premarket.
Novartis (NYSE:NVS) – Novartis CEO Vas Narasimhan expects average annual sales growth of 5% through 2028, driven by billion-dollar drugs, despite patent expirations like Entresto. The company will maintain a 40% profit margin to balance research investments and growth. Complementary acquisitions focused on smaller businesses are also on the radar, though major acquisitions are approached cautiously. Shares rose 1.2% premarket.
Chewy (NYSE:CHWY) – Chewy will join the S&P MidCap 400 on November 6, replacing Stericycle, acquired by Waste Management. Founded by GameStop chairman Ryan Cohen, Chewy has attracted meme stock investor interest. Shares rose 5.6% premarket.
Meta Platforms (NASDAQ:META), Alphabet (NASDAQ:GOOGL), Equinix (NASDAQ:EQIX) – U.S. tech companies warned that Vietnam’s proposed data protection law could hinder social media platform and data center expansions. The law, requiring prior approval for data transfers and allowing broad government access, raises concerns about foreign investment impact and business environment. Meta shares fell 0.1% premarket.
Microsoft (NASDAQ:MSFT) – Abu Dhabi National Oil Co. partnered with AIQ to utilize agentic AI developed with Microsoft and G42 to enhance the energy sector. The technology enables rapid data analysis, boosting efficiency, cutting emissions, and improving production forecasts by up to 90%, according to CEO Sultan Al Jaber. Shares rose 0.3% premarket.
Berkshire Hathaway (NYSE:BRK.B) – Berkshire Hathaway reduced its Apple stake by 25%, ending the quarter with 300 million shares, still valuing Apple as its largest investment at $69.9 billion, down from $174.3 billion the previous year. Warren Buffett indicated that tax considerations and portfolio rebalancing partially drove Apple sales, amid Apple’s sales growth challenges and regulatory pressures. The $36.1 billion sale raised Berkshire’s cash reserve to a record $325.2 billion, reflecting caution amid economic uncertainties. Quarterly operating profit fell 6% to $10.09 billion or $7,019 per Class A share, below LSEG’s estimate of $7,611 per share, due to insurance and currency losses. Insurance investment revenue rose 48%, reaching $3.66 billion. Net income was $26.25 billion, reversing a $12.77 billion loss from the previous year, while insurance underwriting profit dropped 69%, reflecting $565 million in losses from Hurricane Helene. Berkshire projects $1.3-$1.5 billion in fourth-quarter losses from Hurricane Milton. No stock repurchase occurred.
Blackstone (NYSE:BX), Retail Opportunity Investments Corp (NASDAQ:ROIC) – Blackstone is in advanced talks to acquire Retail Opportunity Investments (ROIC), a U.S. shopping center owner, valued at $3.4 billion, including debt. A deal could close within weeks, with Blackstone outpacing rivals like Bain Capital. ROIC, with 93 retail centers, reported strong rent growth last quarter, attracting Blackstone’s interest in expanding its real estate portfolio. Blackstone also plans to enter two new European wealth management markets in 2025, focusing on high-net-worth investors, though the specific markets remain undisclosed. Currently, Blackstone is active in London, Paris, Zurich, Milan, and Frankfurt.
KKR (NYSE:KKR), Thames Water (LSE:TES) – KKR is in talks to invest $3.88 billion (£3 billion) in Thames Water, as part of a recapitalization plan for the financially troubled UK utility. The decision hinges on regulatory review by Ofwat, expected by January, and may require antitrust review due to KKR’s stake in Northumbrian Water. KKR shares rose 0.3% premarket.
Goldman Sachs Group (NYSE:GS) – Goldman Sachs predicts that South Africa will avoid the projected revenue deficit and maintains a positive outlook on stabilizing debt below 70% of GDP. Fitch and S&P may revise credit ratings post-budget, potentially upgrading ratings within six months.
JPMorgan Chase (NYSE:JPM) – Judy Dimon, wife of JPMorgan Chase CEO Jamie Dimon, campaigned in Michigan for Kamala Harris, despite Jamie not publicly endorsing any candidate. Although a Republican, Jamie dismissed support for Trump after a mistaken post. Judy, a Democratic supporter, donated $250,000 to Harris and the Democratic Committee, emphasizing the election’s importance for fundamental principles and future opportunities.
Comcast (NASDAQ:CMCSA), Morgan Stanley (NYSE:MS) – Comcast is exploring options for its cable TV networks with Morgan Stanley’s help, considering a possible spinoff. The goal is to explore new media market opportunities and increase shareholder value, especially amid declining cable TV subscriptions. A separation could facilitate favorable mergers or make the business more attractive for acquisitions.
Coinbase (NASDAQ:COIN) – Coinbase executives and directors adopted trading plans to sell about $900 million in stock, including 3.75 million shares from CEO Brian Armstrong. These plans adhere to Rule 10b5-1, automating sales based on preset criteria to avoid bias. CFO Alesia Haas noted these sales represent a minor portion of insiders’ total holdings. Shares fell 2.3% premarket.
Affirm (NASDAQ:AFRM) – Affirm, a “buy now, pay later” fintech founded in 2012, expanded to the UK, offering installment loans with interest-free options. Approved by the Financial Conduct Authority, it competes with Klarna and PayPal. Shares rose 1.1% premarket.
Boeing (NYSE:BA) – Boeing’s striking machinists will decide on Monday about a new contract offer, including over 40% pay raises over four years and a $12,000 bonus. This is Boeing’s fourth offer since the strike began in September. Boeing raised over $23.5 billion through a large stock issuance to bolster its finances and avoid credit downgrades. Four banks, including Goldman Sachs and JPMorgan, will receive up to $75 million each for coordinating. The issuance, one of the largest ever, comes amid a sales slowdown ahead of the U.S. elections. Shares rose 0.4% premarket.
Ryanair (NASDAQ:RYAAY) – Ryanair reported strong bookings after a tough summer with declining profits and fares. Half-year profit fell 18%, while average fares dropped 10%. For the next quarter, fare declines are expected to be below 5%. Next year’s passenger target was adjusted from 215 million to 210 million due to Boeing 737 MAX delivery delays. Half-year post-tax profit was €1.79 billion ($1.95 billion), matching analysts’ €1.8 billion forecast.
Nio Inc (NYSE:NIO) – Nio will launch its first hybrid model in 2026, exclusive to international markets like the Middle East, North Africa, and Europe. Branded as Firefly, the model aims to avoid European tariffs on Chinese EVs and meet regions with limited charging infrastructure, supported by Abu Dhabi’s CYVN Holdings. Shares rose 1.6% premarket.
Stellantis (NYSE:STLA) – Donald Trump stated that, if elected, he would impose a 100% tariff on Stellantis if the company shifts jobs from the U.S. to Mexico. He claimed this would prevent the automaker from relocating. Shares rose 2.0% premarket.
TotalEnergies (NYSE:TTE) – TotalEnergies CEO Patrick Pouyanne stated that the next U.S. president should prioritize maintaining national energy dominance. With the U.S. leading in shale oil and gas production, energy is a strategic competitive advantage. Kamala Harris supports fracking, while Donald Trump and Republicans advocate for deregulation. Despite restrictions, the Biden administration approved Alaska projects, reinforcing an “America first” stance in energy. Shares rose 1.4% premarket.
Talen Energy (NASDAQ:TLN) – The Federal Energy Regulatory Commission rejected a revised interconnection agreement in Pennsylvania between Talen and an Amazon data center. The agreement involved connecting a nuclear plant, operated by Talen, to Amazon’s data center. Shares fell 14.9% premarket.