Core Insights - Pinterest shares dropped 20% following disappointing third-quarter earnings, with advertising revenue impacted by larger retailers facing tariff challenges [1] - The company reported adjusted earnings of 38 cents per share, below the expected 42 cents, while revenue met estimates at $1.05 billion [1] Financial Performance - Third-quarter sales in the U.S. and Canada were $786 million, falling short of StreetAccount's estimate of $799 million [2] - The finance chief indicated that there were "pockets of moderating ad spend" due to pressure on margins from tariffs affecting larger U.S. retailers [3] Market Dynamics - Analysts noted that tariff-related weaknesses are emerging in the digital advertising space, highlighting Pinterest's lack of customer diversity and increased macro sensitivity [2] - Several banks have lowered their price targets for Pinterest, citing rising competition from platforms like Instagram and TikTok, as well as macroeconomic headwinds [4] - Despite concerns, 81% of analysts still maintain an outperform or buy rating for the company [4]

Core Insights - Billionaire investor Carl Icahn has acquired a significant stake in Monro, becoming the largest single shareholder with a 14.8% ownership [1][2] - Icahn's investment entities disclosed ownership of 4,439,914 shares in Monro, previously known as Monro Muffler Brake [1] - Following the announcement of Icahn's stake, Monro's shares experienced a surge of over 13% in early trading [2] Company Summary - Icahn surpassed BlackRock Fund Advisors, which held a 14.11% stake in Monro as per the latest filings [2] - The regulatory filing did not clarify whether Icahn intends to advocate for changes within Monro [1]

Core Insights - Pfizer and Novo Nordisk are engaged in a competitive bidding war for the obesity biotech Metsera, with both companies increasing their offers as of Monday [3][4] - Metsera has indicated that Novo Nordisk's latest bid of up to $10 billion is superior to Pfizer's revised offer of approximately $8.1 billion [9][10] Group 1: Bidding War Timeline - Pfizer initially proposed to acquire Metsera for $4.9 billion, potentially rising to $7.3 billion with future payments, aiming to enter the obesity market after previous setbacks [5] - Novo Nordisk launched a competing bid valuing Metsera at around $6 billion, or up to $9 billion, prompting Pfizer to renegotiate its offer within a four-business-day deadline [6] - Following Novo Nordisk's bid, Pfizer filed lawsuits against both Novo Nordisk and Metsera, seeking to block the termination of its merger agreement [7][16] Group 2: Market Context and Implications - Metsera, founded in 2022, has a pipeline of oral and injectable treatments, including a GLP-1 drug and a monthly amylin treatment, which could be less frequent than existing weekly injections [11] - The acquisition of Metsera is crucial for Pfizer to penetrate the lucrative obesity market, especially after facing challenges with its own weight loss candidates [12] - Novo Nordisk, a pioneer in the weight loss drug market, is under pressure to regain market share lost to competitors like Eli Lilly and is facing new entrants such as Amgen and Roche [13][14] Group 3: Legal and Regulatory Aspects - Pfizer's lawsuits argue that Novo Nordisk's acquisition of Metsera would reinforce its dominant position in the obesity market by eliminating a potential competitor [16] - Pfizer's first lawsuit seeks to prevent Metsera from terminating its existing merger deal, claiming that Novo Nordisk's offer is not likely to be completed due to regulatory risks [17] - A Delaware judge has scheduled a hearing to review the bidding process, indicating ongoing legal complexities in the acquisition battle [18]

Core Insights - Axon Enterprise's stock dropped 17% after missing third-quarter profit expectations due to tariff constraints [1] - Adjusted earnings were $1.17 per share, below the forecast of $1.52 per share [1] - Adjusted gross margins decreased by 50 basis points year-over-year to 62.7%, attributed to tariff impacts [1] Financial Performance - The connected devices business, including TASER and counter-drone equipment, generated over $405 million in revenues, a 24% year-over-year increase [2] - Software and services revenues rose 41% year-over-year to $305 million [2] Management Commentary - The finance chief indicated that the tariff impacts are considered a one-time adjustment and are now reflected in gross margins [2] - There is an expectation that growth in the software business will eventually offset margin losses in the long term [2]

A jobseeker speaks with a recruiter during a NYS Department Of Labor job fair at the Downtown Central Library in Buffalo, New York, US, on Wednesday, Aug. 27, 2025.Payroll growth at private companies turned slightly stronger than expected in October, providing some hope that the labor market isn't in danger of sinking, ADP reported Wednesday.Companies added 42,000 jobs for the month, following a decline of 29,000 in September and topping the Dow Jones consensus estimate for a gain of 22,000. A revision for ...

Lyft customers can once again earn miles toward their next flight.The ridesharing company on Wednesday said it's partnering with United Airlines to offer MileagePlus points to riders who link their accounts, months after it ended an eight-year partnership with Delta Airlines.Once linked, riders can earn one mile for every dollar spent on Standard Priority Pickup and XL rides and two miles for every dollar booked on business profiles. Extra Comfort, Lyft Black, Black SUV and regular airport rides will earn t ...

Election Results - Democrats achieved significant victories in key races across New York, New Jersey, and Virginia, with self-described democratic socialist Zohran Mamdani projected to become the next mayor of New York City, defeating former Governor Andrew Cuomo [2][4] - In New Jersey, Democrat Mikie Sherrill is projected to become the next governor, marking a critical moment for the GOP, which had made inroads in the state in 2024 [3] - Abigail Spanberger is projected to become the first female governor of Virginia, alongside Democratic nominee Jay Jones winning the attorney general race, despite not being the favorite [4] Corporate Earnings - McDonald's reported third-quarter revenue of $7.08 billion, a 3% increase year-over-year, but slightly below analysts' expectations of $7.1 billion [5] - Despite missing expectations, McDonald's shares rose approximately 1%, with same-store sales growing 3.6% globally and 2.4% in the U.S., indicating sustainable growth in a challenging environment [6] Layoffs and Employment Trends - A wave of layoffs is affecting major corporations, including IBM, Amazon, and Meta, raising concerns about the impact of AI on employment [7][8] - Job openings have reached their lowest level in over four years, with Indeed's Job Posting Index falling to 101.9 in October, the lowest since February 2021 [9] K-Pop Industry Impact - Netflix's "KPop Demon Hunters" has generated $10 billion for the K-pop music industry, significantly boosting shares of major K-pop companies like HYBE and JYP Entertainment, which have seen double-digit gains this year [11] - The film's popularity may also lead to increased consumption of Korean cosmetics and foods, with potential political ramifications in China [12]

Core Insights - Amazon CEO Andy Jassy aims to transform the company into the "world's largest startup" by reducing bureaucracy and flattening the organizational structure to enhance speed and competitiveness [2][3][4] - The company is undergoing significant layoffs, with approximately 14,000 corporate employees expected to be cut, marking the largest round of layoffs in Amazon's history [6][14] - Despite a better-than-expected third-quarter earnings report, Amazon faces challenges such as rising costs, increased competition in cloud services, and employee morale issues [8][9][10] Organizational Changes - Jassy has initiated a cultural overhaul, emphasizing a return to in-office work and a push for employees to achieve more with fewer resources [3][17] - The layoffs will affect various divisions, including stores and human resources, and are part of a broader strategy to streamline operations [5][14] - The company plans to increase the ratio of individual contributors to managers by at least 15% by the end of Q1 2025 [17] Financial Performance - Amazon's stock saw a 14% increase over two trading days following the earnings report, achieving a record close [8] - The company plans to boost capital expenditures to $125 billion, up from an earlier estimate of $118 billion, indicating a strong investment in AI infrastructure [24] AI and Innovation - Jassy has indicated that efficiency gains from AI will lead to a reduction in corporate staff in the coming years, while also pushing for increased AI adoption among employees [23][24] - Employees have expressed concerns about the implications of AI on job security, with some advocating for a more responsible rollout of AI technologies [25][26] Employee Sentiment - There are reports of declining morale among employees due to ongoing layoffs and pressure to innovate faster, particularly in AI [16][19] - Some employees believe that the push to flatten the organization has resulted in increased workloads without a corresponding reduction in tasks [21]

Pekic | E+ | Getty Images[CK bullet with numbers.]The stock market's impressive run in recent years may be fattening your portfolio, but it also might have thrown your intended investment mix off balance.While artificial intelligence stock valuations spurred a market decline on Tuesday, the major indexes are still well up this year, propelled both by AI-related and big technology stocks. Through Tuesday's close, the S&P index is up about 15.1%. Both the Dow and the Nasdaq have also posted double-digit gains ...

Core Insights - Mortgage interest rates experienced significant fluctuations last week, leading to a decrease in demand for mortgage applications [1][2] - The average contract interest rate for 30-year fixed-rate mortgages rose to 6.31% from 6.30%, with notable volatility following Federal Reserve announcements [2] - Refinance applications dropped by 3% week-over-week, although they remain 151% higher than the same week last year, indicating a strong year-over-year demand despite recent rate changes [3] Mortgage Market Trends - Total mortgage application volume fell by 1.9% compared to the previous week, reflecting the impact of rising interest rates [1] - The average loan size for refinance applications reached its highest level in six weeks, as borrowers with larger loans sought to reduce monthly payments [4]