Tech selloff deepens on AI capex worries as Apple and Palantir drop, Dow holds up
Concerns about the cost of AI infrastructure drove chip and software stocks lower, with the S&P 500 and Nasdaq falling while the Dow rose on rotation out of tec
CNBC · +13 outlets
Apple beats earnings estimates but weak gross margin outlook sends shares lower
Apple's guidance disappointed investors as rising memory chip costs squeeze margins, marking an early test for new CEO John Ternus.
CNBC · +14 outlets
Stock futures mixed as voters head to the polls for US midterm elections
Traders weighed political uncertainty alongside a tech-led selloff and lower oil prices ahead of Tuesday's midterm vote.
Seeking Alpha · +14 outlets
Oil prices jump after US strikes Iran's Qeshm Island, retracing prior plunge
Crude rose after the US strike, following a prior session when prices fell about 7% on signals both sides were open to diplomacy.
CNBC · +1 outlets
Palantir stock tumbles despite strong Q3 and raised 2026 revenue outlook
Analysts blamed slowing bookings growth for the selloff even as Palantir posted a first $2 billion quarter on strong US commercial demand.
CNBC · +14 outlets
Oil posts biggest drop since July on hopes for US-Iran peace talks
Crude's slide lifted travel and blue-chip stocks while weighing on energy names, as investors digested conflicting signals on Iran.
NBC News · +14 outlets
Wall Street weighs how a Democratic sweep in the midterms could hit stocks
Analysts flagged risks to AI, energy, banks, defense and healthcare if Democrats take Congress, with gridlock outcomes seen as market-friendly.
CNBC · +14 outlets
Oracle offers $10 billion of high-grade bonds as part of $20 billion AI financing
Oracle is tapping debt and equity markets to fund its AI buildout, adding to scrutiny of the sector's rising leverage.
Bloomberg · +14 outlets
Intel's foundry push faces critical test after stock's 45% October plunge
Intel's turnaround hinges on proving its foundry strategy can win customers and add capacity, with the US government's stake sitting on a large paper loss.
CNBC · +7 outlets
Marathon Petroleum beats estimates and agrees to sell two refineries to CVR Energy
Carl Icahn's CVR Energy is near a deal worth over $4 billion for the two refineries and a marketing business, reshaping the refining landscape.
Investing · +6 outlets
Anthropic investors push for a valuation closer to $1.5 trillion
Anthropic reported $17 billion in Q3 revenue and $895.4 billion in purchase commitments in a revised S-1, as investors urged a cautious valuation.
WSJ · +13 outlets
China halts IPOs in a bid to bolster its struggling stock market
Beijing revived 2024-era rescue tools to steady equities after AI-related concerns hit the market.
Reuters · +5 outlets
Disney plans thousands of layoffs targeting 20% cost savings
The cuts would be Disney's biggest round of job reductions this year as managers are asked to trim budgets.
Bloomberg · +14 outlets
Alphabet kicks off €6 billion euro bond sale to test appetite for tech debt
The bond sale tests investor demand for AI-related corporate debt as issuance surges.
Reuters · +6 outlets
Marvell and Lumentum tout $115 billion AI connectivity deal
The companies billed the transaction as creating a category leader in AI connectivity, though Marvell shares fell sharply on the news.
Fox Business · +9 outlets
Pfizer hikes full-year outlook and names company veteran Cecile Guegan as CFO
The drugmaker raised guidance as newer products grew and tapped a 20-year insider for the finance chief role.
CNBC · +3 outlets
Shopify beats on Q3 EPS but revenue miss sends stock sliding
Shopify guided to low-thirties Q4 revenue growth but the top-line shortfall worried Wall Street in a less-forgiving tech market.
Seekingalpha · +1 outlets
Blackstone's Jon Gray calls for more equity to fund AI buildout as debt risks mount
Wall Street executives are split on AI risk, with Blackstone's president warning of concentration risk for debt investors financing infrastructure.
CNBC