Lee Raybon (Ethan Hawke) in Sterlin Harjo’s latest series for FX, The Lowdown.Photo: Shane Brown / Courtesy of FX While writing my interview with the costume and production designers of FX’s The Lowdown, I spent a lot of time thinking about the compromises which must be achieved between the clothing actors will wear and the spaces those actors will inhabit. Costumes cannot be successful if they are fighting a set for attention, and a private interior space, like all the homes (and especially the bedrooms) w ...

Core Viewpoint - ServiceNow's stock has experienced a decline of 12.8% in 2025, contrasting with a 22% rise in the Nasdaq, raising questions about potential buying opportunities for investors despite macroeconomic concerns and high valuations [2][3]. Financial Performance - ServiceNow reported third-quarter 2025 revenue of $3.41 billion, a 22% increase year-over-year, exceeding London Stock Exchange Group estimates by $60 million [6]. - Subscription revenues for Q3 reached $3.3 billion, surpassing StreetAccount estimates by $40 million [6]. - Adjusted earnings per share for Q3 were $4.82, exceeding LSEG consensus by 5 cents [6]. - Net income for Q3 was $502 million, reflecting a 16% increase from the previous year [6]. - Current remaining performance obligations stood at $11.35 billion, up 20.5% year-over-year, and $260 million above analyst forecasts [6]. - Full-year revenue guidance for 2025 is set at $12.845 billion, a $60 million increase from the previous quarter's guidance [6]. Growth Drivers - The AI boom has significantly contributed to ServiceNow's performance, with expectations for AI platform revenue to exceed $500 million in 2025 and on track to meet a 2026 goal of $1 billion [7]. - The company has seen strong growth in government contracts, with U.S. federal business growing over 30% in Q3 [11]. - ServiceNow's AI Control Tower is helping clients achieve returns on their AI investments, enhancing operational efficiency [12][13]. Stock Split and Market Position - ServiceNow announced a 5-for-1 stock split, aimed at making shares more affordable for retail investors, potentially increasing demand [5][15]. - The company is optimistic about attracting consumer investors interested in its AI momentum [16]. Valuation Concerns - Analysts suggest that ServiceNow's stock may be overvalued, trading at a forward price/earnings ratio of 54.69, significantly higher than the sector median of 25.22 [17]. - Competition from major players like Microsoft, Oracle, and Salesforce poses challenges, particularly if price sensitivity among buyers increases [18]. Analyst Sentiment - Despite concerns, analysts see considerable upside potential for ServiceNow's stock, with an average price target of $1,124.82, implying a potential rise of 22% [19].

WASHINGTON, DC - OCTOBER 29: Federal Reserve Chair Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the Federal Reserve on October 29, 2025 in Washington, DC. For the second straight month, Powell announced a quarter-point cut to the federal funds rate, bringing rates down to a new range of 3.75 percent to 4 percent. (Photo by Alex Wong/Getty Images)Getty ImagesThe Fed is cutting, and that’s bullish for preferred stocks and their big payouts. Let’s lo ...

Core Insights - Disney is launching a new community called Cotino in Coachella Valley, which is the first Storyliving by Disney community aimed at providing a unique lifestyle experience without overt Disney themes [1][2] - The community targets baby boomers and Gen X, reflecting a trend towards lifestyle communities that cater to these demographics [2][6] - Cotino operates on a licensing model with land developers, allowing Disney to focus on storytelling and community design rather than land ownership [3] Community Features - Homes in Cotino start at approximately $1.3 million, with the first phase including over 300 homes and plans for more than 1,900 residential units [4][5] - The community will feature a mix of single-family homes, condominiums, and a dedicated area for residents aged 55 and older [5][6] - Residents can join the Artisan Club, which offers access to various amenities, including a restaurant, wellness center, and a large water feature [7][8] Artisan Club Membership - Membership to the Artisan Club requires a one-time initiation fee of $20,000, with two tiers available for different levels of access [10][11] - The less expensive tier includes annual dues of $11,000 and a $1,000 food and beverage minimum, while the extended membership costs $19,000 annually with a $2,000 minimum [11] - The Artisan Club will feature themed areas influenced by Disney movies, such as a recreation of the Parr House from The Incredibles 2 [9] Future Developments - Disney is already planning a second Storyliving by Disney community named Asteria in North Carolina, which will accommodate around 4,000 residents and is expected to begin sales in 2027 [12]

Core Insights - Christie's Magnificent Jewels auction will take place on November 11 in Geneva, featuring three significant private collections, including royal and noble provenance, fancy-colored diamonds, and works by contemporary high jewelry artists [1][4]. Collection Highlights - The first collection includes Victorian-period jewels inherited by Helena Violet Alice, the third Countess of Stradbroke, featuring a 10.07-carat Burmese ruby brooch estimated at $1.4–$2 million, a ruby and diamond tiara estimated at $360,000–$600,000, and a 7.88-carat ruby brooch estimated at $210,000–$270,000 [2][3]. - The second collection, "The Rainbow Collection," consists of over 300 natural fancy-colored diamonds with an estimated value of $2 million–$3 million, showcasing a full spectrum of colors [4]. - The third collection features 25 jewels by contemporary jeweler JAR, including a ring with an 8.68-carat fancy purplish-pink diamond, estimated at $2.5 million–$3.5 million, marking a significant grouping of the artist's work at auction [4][5]. Top Lots - The top lot is the Mellon Blue, a 9.51-carat fancy vivid blue diamond with an estimate of $20 million–$30 million, previously owned by Bunny Mellon [6]. - The second-highest lot is a brooch featuring a 65.46-carat cushion-shaped unheated Burmese sapphire, estimated at $2.6 million–$3.8 million [6]. Notable Signed Jewels - An Art Deco bracelet by Lacloche Frères, estimated at $410,000–$630,000, depicts a scene rendered in emeralds, rubies, and onyx, and has not been on the market for nearly two decades [7]. - A Tiffany & Co. Art Nouveau floral brooch, designed by Paulding Farnham in 1901, is estimated at $110,000–$150,000, reflecting a shift in design aesthetics at the turn of the century [8]. Auction Details - A preview of the Magnificent Jewels auction will be held from November 7 to 10, with an online sale titled "The Geneva Edit" opening for bidding during the preview and continuing until November 18 [10].

Core Insights - The article discusses the strong performance of technology stocks, particularly driven by artificial intelligence (AI) investments, while also highlighting the risks associated with market concentration in the tech sector [4][5][10]. Group 1: Market Performance - The information technology sector gained 23% year-to-date as of October 21, 2025, while the tech-focused communication services sector increased by 25% [4]. - The Magnificent Seven, comprising major tech companies, accounted for 36.6% of the S&P 500 as of October 2025, a significant increase from 12.3% in 2015 [5]. - Year-to-date returns for the Magnificent Seven were 18.6%, outperforming the S&P 500's 14.5% [5]. Group 2: AI Investment Trends - Corporate AI investment reached $252.3 billion in 2024, with private investment up 44.5% year-over-year and mergers and acquisitions increasing by 12.1% [6]. - The excitement surrounding AI is driven by investor expectations, which can create a leverage-like effect in the market [10]. Group 3: Market Structure and Risks - The S&P 500 exhibits survivor bias, where the largest companies dominate the index, leading to concerns about high exposure to tech stocks [7][9]. - The performance of the S&P 500 is heavily influenced by a few large tech stocks, raising concerns about potential corrections in the sector [9][12]. - Emerging markets have shown strong performance, up almost 30% year-to-date, suggesting opportunities outside the tech-heavy S&P 500 [12][13]. Group 4: Investment Strategies - A diversified portfolio is recommended to mitigate risks associated with tech concentration, allowing investors to capture upside without being overly reliant on tech stocks [14]. - Direct indexing is suggested as a strategy to mimic existing stock indices while selectively investing in tech areas that offer potential without full exposure [14].

Market Performance - The S&P 500 increased by 2.3% in September 2025, slightly below the 2.6% gain in September 2023, indicating a positive trend despite historically weak September performances [2] - From 2000 to 2024, the average return for September was -1.6%, with five years experiencing declines over 7%, highlighting the unusual strength in recent years [2] Sector Performance - In October, the Invesco QQQ Trust (QQQ) was the top performer, rising by 4.8%, while the Dow Jones Industrials and iShares Russell 2000 gained 2.5% and 1.8%, respectively [3] - The SPDR Gold Trust (GLD) experienced a late-month drop but still ended October up 3.6% [3] Technical Analysis - The QQQ surpassed the yearly R2 resistance at $623.76, reaching a high of $637.01, with a significant support level now at $589.05 [3] - The NDX 100 Advance/Decline line has been above its WMA since January 2023 and confirmed a new high in October, indicating a bullish trend [4] - The Spyder Trust (SPY) reached a high of $689.70 in October, marking its longest winning streak since August 2021, with support at $636.32 [6] Broader Market Indicators - The NYSE Composite closed at 21,459 in October, down 0.5%, but above the yearly R1 at 20,798, indicating mixed performance [8] - The NYSE All A/D line has been leading the market and closed in October just below the September high, with strong support levels [10] - Despite positive monthly analysis, the weekly NYSE Stocks Only A/D line has shown divergence from prices, suggesting potential caution [11]

Core Insights - Fiserv's stock price plummeted nearly 50%, marking its worst trading day on record, following a significant cut in its full-year earnings outlook and disappointing third-quarter results [2][3] - The company reported Q3 earnings of $2.04 per share on $4.9 billion in revenue, both of which fell short of analysts' expectations [2] - Fiserv reduced its full-year revenue growth forecast from approximately 10% to a range of 3.5% to 4%, and adjusted its EPS guidance down to $8.50 to $8.60 from $10.15 to $10.30 [3] Company Performance - Management acknowledged that the company had been overly optimistic about its performance, with CEO Mike Lyons stating that current results do not meet stakeholder expectations and attributing challenges to prior missteps [4] - The decline in revenue growth and earnings expectations indicates a significant deterioration in Fiserv's operational momentum [3] Industry Implications - Analysts suggest that Fiserv's situation reflects a broader recalibration of expectations within the banking and fintech sectors, emphasizing the importance of quality growth over aggressive expansion [5] - The decline in Fiserv's stock may not signify a crisis for the company but rather a correction from previously inflated valuations, contrasting with competitors like FIS and Jack Henry, which have not experienced similar stock price increases [8][9] Management Perspective - The recent stock price drop provides CEO Mike Lyons with an opportunity to implement drastic changes and consolidate operations, as the situation is perceived as a critical moment for the company [10][11] - The reset of the stock price from $128 to $71 allows for a fresh start under new management, with the potential for significant operational restructuring [11]

Waabi and Volvo Autonomous Solutions have reached a major milestone in autonomous trucking, integrating the Waabi Driver with the Volvo VNL Autonomous.WaabiWaabi and Volvo Autonomous Solutions have reached a major milestone in autonomous trucking, integrating the Waabi Driver with the Volvo VNL Autonomous. The partners note that this achievement underscores the significant progress both companies are making together in advancing autonomous freight.“The future of autonomous trucking hinges on three critical ...

Core Insights - Uber is aiming to develop a fleet of 100,000 driverless vehicles in collaboration with Nvidia, marking a significant step in the autonomous vehicle industry [4][5] - The company is expanding its robotaxi services, with plans to introduce autonomous rides in San Francisco using Lucid SUVs and Nuro's systems, competing directly with Waymo [3][4] - Nvidia's partnership with Uber focuses on creating the largest Level-4 autonomous vehicle network, leveraging Nvidia's AI infrastructure to facilitate the deployment of autonomous fleets [5][7] Company Developments - Uber has initiated partnerships for driverless rides, including collaborations with Waymo in Austin and Atlanta, and is set to expand its services in San Francisco [3][4] - The timeline for scaling up to 100,000 driverless vehicles is not specified, but Uber plans to begin this expansion in earnest by 2027 [4] - Uber will not manufacture the vehicles but will enable Nvidia's partners like Stellantis, Lucid, and Mercedes-Benz to integrate the technology into their cars [6] Industry Context - Waymo currently leads the market with a fleet of 1,500 vehicles, with an additional 2,000 expected to be added in the next year [4] - Nvidia's CEO emphasized the transformative potential of AI in achieving large-scale Level-4 autonomy, indicating a shift in the transportation landscape [5][7] - The transition to fully autonomous vehicles is projected to take place over the next two decades, with a potential decrease in car ownership and a shift in driving skills becoming less common [9]