Core Insights - Microsoft is forming a new team, the MAI Superintelligence Team, to focus on advanced artificial intelligence research, led by Mustafa Suleyman [1][2] - The initiative aims to develop practical AI technologies that serve humanity, rather than pursuing abstract superintelligence [2][6] - The formation of this team follows significant investments by other tech giants, such as Meta, in AI research and talent acquisition [2][3] Company Developments - Mustafa Suleyman, previously a co-founder of DeepMind and Inflection AI, has joined Microsoft to lead the new AI research group [3][4] - Microsoft has been diversifying its AI capabilities by incorporating models from various sources, including Google and Anthropic, to reduce reliance on OpenAI [4] - The new research group will focus on creating AI companions for education and exploring applications in medicine and renewable energy [5] Industry Context - The AI sector is experiencing a talent rush, with major companies hiring leading engineers and researchers to enhance their products with generative AI capabilities [3] - Concerns are rising among investors and analysts regarding the sustainability of AI investments without clear profit pathways [6]

Core Points - President Donald Trump announced deals with Eli Lilly and Novo Nordisk to reduce prices of obesity drugs, aiming to increase access to these treatments [1][6] - The agreements will allow Medicare to cover obesity drugs for certain patients starting mid-2026, marking a significant expansion in the market for these medications [2][3] Pricing and Coverage - Starting doses of upcoming obesity pills from Eli Lilly and Novo Nordisk will be priced at $145 per month for Medicare, Medicaid, or through the new website TrumpRx.gov [4] - Existing injections like Novo's Wegovy and Lilly's Zepbound will initially cost $350 per month on TrumpRx, decreasing to $245 per month over two years [5] - Medicare coverage will be available to approximately 10% of beneficiaries, focusing on those with specific health conditions related to obesity [10][9] Market Impact - The list prices of existing obesity drugs range from $1,000 to $1,350 per month, which has been a significant barrier for patients [7] - The new agreements are expected to encourage private insurers to cover obesity treatments, potentially broadening the market [3][9] Drug Approval and Access - Novo Nordisk's oral version of Wegovy may enter the market by year-end, while Eli Lilly's orforglipron is expected to launch next year [4] - The administration is constraining access to ensure that only patients who will benefit clinically can receive the drugs [12] Additional Agreements - Eli Lilly and Novo Nordisk have committed to most favored nation pricing for new medicines and will provide these prices to all state Medicaid programs [13] - Eli Lilly will also reduce prices on its direct-to-consumer platform, LillyDirect, with Zepbound priced at $299 per month for the lowest dose [14]

Doordash's stock plummeted toward its worst session ever as investors rejected the company's aggressive spending strategy.The food delivery platform said it plans to shell out "several hundred million dollars" next year on new product initiatives like autonomous delivery and a new global tech stack. These plans will improve its product globally, but involve "direct and opportunity costs" in the short run, Doordash said.CEO Tony Xu defended the company's spending decisions during the earnings call with analy ...

Core Insights - Datadog's shares increased by 20% following the announcement of third-quarter revenue that exceeded Wall Street expectations and a strong fourth-quarter forecast [1] - The company reported third-quarter revenue of $885.7 million, representing a 28% year-over-year growth, surpassing the expected $852.8 million [1] - For the fourth quarter, Datadog anticipates revenue between $912 million and $916 million, significantly higher than Wall Street's forecast of $887 million [1] Company Developments - Datadog has been actively rolling out various AI technologies and security tools in response to the growing demand for cloud-security products driven by artificial intelligence [2] - The CEO of Datadog, Olivier Pomel, highlighted the rapid innovation by the R&D team to assist customers in addressing challenges in the AI sector [2]

Core Insights - Snap's stock increased by 13% following the announcement of a $400 million deal with Perplexity AI and the release of its third-quarter financial results [1] - The integration of Perplexity's AI-powered search engine into the Snapchat app is a significant development for the company [1] - The partnership is expected to generate revenue starting in 2026, indicating a long-term strategy for alternative revenue streams [2] Financial Performance - Snap reported third-quarter revenue of $1.51 billion, exceeding LSEG estimates of $1.49 billion [2] - The company's daily active users rose by 8% year over year, reaching 477 million, which surpassed StreetAccount's projection of 476 million [3] Strategic Developments - The $400 million deal with Perplexity AI will be executed through a combination of cash and equity over one year [1] - The partnership is seen as a response to large advertisers in the US reducing their advertising spend on the platform, similar to trends observed with Pinterest [2]

Core Points - A federal judge in Texas dismissed a criminal case against Boeing regarding the crashes of its 737 Max airplanes, following a request from the Department of Justice [2] - The judge expressed skepticism about the decision to drop the prosecution, indicating concerns about the implications of this move [2] - The crashes resulted in the deaths of 346 individuals, highlighting the severity of the incidents and the ongoing impact on the victims' families [2]

LAS VEGAS — As 2025 winds down, many investors are bracing for year-end mutual fund distributions, which can trigger a hefty tax bill for assets held in a taxable brokerage account. But there are strategies to avoid the payout, experts say.   For 2025, "you've got some pretty eye-watering numbers," with some funds planning to distribute double-digit capital gains, said Brandon Clark, director of exchange-traded funds for asset management firm Federated Hermes. After another strong year for the stock market, ...

Duolingo's stock cratered 27% on lighter-than-expected guidance as the language learning platform zeroed in on user growth in lieu of near-term monetization."We have made a slight shift over the last quarter in how we invest, and we're investing a lot more in long-term things because we see that as such a big opportunity ahead of us," CEO and co-founder Luis von Ahn told CNBC's Jon Fortt.For the current quarter, Duolingo expects bookings to range between $329.5 million and $335.5 million, falling short of a ...

Core Insights - Chicago Federal Reserve President Austan Goolsbee expressed hesitation about further interest rate cuts due to a government shutdown causing a blackout on key inflation data [1][2] - Goolsbee highlighted concerns over the lack of important price reports, especially as general inflation has been trending higher recently [1][5] Inflation Data Concerns - The Bureau of Labor Statistics (BLS) will not release the consumer price index report for October, which was scheduled for next week, raising concerns about the availability of inflation data [3] - The September report indicated an inflation rate of 3% annually, above the Fed's target of 2%, while core inflation (excluding food and energy) was running at a 3.6% annualized pace prior to the shutdown [4][5] Labor Market Indicators - The Chicago Fed updated its dashboard of labor market indicators, showing a stable unemployment rate of 4.36% in October, which is a slight increase from September [2] - The data indicated a steady pace of hirings and layoffs, suggesting stability in the job market despite inflation concerns [2] Future Rate Decisions - Goolsbee will participate in the Federal Open Market Committee's decision-making in December regarding potential rate cuts, following reductions in the previous two meetings [5] - He emphasized a cautious approach to rate cuts, suggesting that the settling point for rates will likely be below current levels [5]

Core Insights - Tapestry's sales growth in the first quarter of fiscal 2026 was significantly driven by new customer acquisition, particularly among Gen Z consumers, who represented approximately 35% of new customers [1][2][5] - The company raised its full-year revenue outlook to around $7.3 billion, reflecting a growth of 4% to 5% from the previous year, and adjusted its earnings per diluted share forecast to a range of $5.45 to $5.60 [4] Financial Performance - Tapestry reported a net income of $274.8 million, or $1.28 per share, for the three-month period ending September 27, compared to $186.6 million, or 79 cents per share, in the same period last year [3] - The company's earnings per share exceeded expectations at $1.38, compared to the anticipated $1.26, and revenue also surpassed forecasts at $1.70 billion against an expected $1.64 billion [8] Market Trends - Despite Tapestry's positive performance, shares fell approximately 9% in premarket trading following the earnings report [4] - Other companies, such as Chipotle and Cava, reported weaker sales attributed to younger consumers reducing their spending, contrasting with Tapestry's success in attracting Gen Z [5][6]