Tesla Inc. investors have overwhelmingly approved Elon Musk's $1 trillion compensation package, a record-setting deal that cements the billionaire's grip over the electric-vehicle maker and signals re... ...

Market Overview - US equities experienced a decline as artificial intelligence (AI) stocks faced renewed selling pressure, impacting major indexes negatively [2][3] - The Dow Jones Industrial Average fell by 287 points (0.6%), the S&P 500 dropped by 0.1%, and the Nasdaq Composite slid by 1.39%, marking a challenging week for the tech-heavy index [3] AI Sector Performance - AI-related companies, which had previously driven market rallies, are now experiencing heightened volatility as investors question the sustainability of their valuations [5][7] - Major players like Nvidia, Microsoft, Palantir Technologies, Broadcom, and AMD led the downturn, contributing to the overall market decline [4][6] Labor Market Concerns - October job cuts reached a 22-year high with over 153,000 layoffs, nearly tripling the number from September and representing a 175% increase year-over-year [9][10] - This data indicates growing weakness in the labor market, raising concerns about the resilience of the US economy amid ongoing government shutdowns [10] Corporate Earnings and Movements - Datadog's stock surged by 25% after exceeding profit and revenue expectations, reporting earnings of 55 cents per share on revenue of $886 million [11] - Conversely, Qualcomm's stock fell by 3% despite strong quarterly earnings due to concerns over potential future business losses with Apple [5][7] - Other notable movements included Brighthouse Financial jumping 26% on acquisition news and Golden Entertainment soaring 36% following a buyout announcement [12][13]

Core Viewpoint - Galaxy Digital has received a positive outlook from Morgan Stanley, highlighting the company's potential for growth as it enhances its focus on artificial intelligence and digital assets [1] Group 1 - Morgan Stanley sees significant upside for Galaxy Digital, indicating strong market confidence in the company's strategic direction [1] - The endorsement reflects a broader trend in the industry where companies are increasingly integrating AI with digital asset management [1]

Core Viewpoint - Celsius Holdings Inc experienced a significant decline of over 25% in stock price despite reporting strong financial results for Q3, which exceeded market expectations [1] Financial Performance - The company reported market-beating financials for its third quarter (Q3) [1]

Core Insights - President Donald Trump announced a landmark agreement with pharmaceutical companies Eli Lilly and Novo Nordisk to significantly reduce prices for their popular weight-loss drugs, which could impact the healthcare industry and consumer access to these medications [1] Company Summary - Eli Lilly and Novo Nordisk are the two pharmaceutical giants involved in this agreement, which aims to make weight-loss drugs more affordable for consumers [1] - The agreement is expected to lead to a substantial decrease in the prices of these blockbuster drugs, potentially increasing their accessibility in the market [1] Industry Summary - The announcement signifies a shift in the pharmaceutical industry towards more consumer-friendly pricing strategies, particularly for high-demand medications like weight-loss drugs [1] - This move may set a precedent for future negotiations between pharmaceutical companies and government entities regarding drug pricing [1]

Core Viewpoint - Nvidia's stock experienced volatility following CEO Jensen Huang's warning that Chinese chipmakers are rapidly advancing in artificial intelligence capabilities, posing a competitive threat to US firms [1] Group 1: Company Insights - Jensen Huang highlighted the increasing competitiveness of Chinese chipmakers in the AI sector, indicating a shift in the landscape of technology and innovation [1] - The warning from Nvidia's CEO suggests potential challenges for US companies in maintaining their leadership in AI technology [1] Group 2: Industry Implications - The rapid advancements by Chinese firms in AI capabilities could lead to intensified competition in the semiconductor industry, impacting market dynamics [1] - This development may influence investment strategies and market valuations within the tech sector, particularly for companies involved in AI and semiconductor manufacturing [1]

Core Viewpoint - Brighthouse Financial's stock experienced a significant increase of 26% following the announcement of a definitive merger agreement with Aquarian Capital, which values the company at $70 per share in an all-cash transaction [1] Company Summary - Brighthouse Financial, a life insurer based in Charlotte, is set to merge with Aquarian Capital [1] - The merger agreement stipulates a purchase price of $70 per share, indicating a substantial premium for shareholders [1]

Core Insights - Tapestry Inc., the parent company of Coach and Kate Spade, reported record quarterly revenue and stronger-than-expected earnings [1] - The company raised its full-year guidance following the positive financial results [1] Financial Performance - Tapestry achieved record quarterly revenue, indicating robust sales growth [1] - Earnings exceeded market expectations, showcasing the company's strong operational performance [1] Future Outlook - The company has raised its full-year guidance, reflecting confidence in continued growth and performance [1]

Core Insights - Duolingo Inc (NASDAQ: DUOL) reported a strong third-quarter performance, with revenue increasing by 40% year-over-year and significant expansion in profit margins [1] Financial Performance - Revenue growth of 40% year-over-year indicates robust demand for Duolingo's online language learning platform [1] - Profit margins have expanded significantly compared to the previous year, reflecting improved operational efficiency [1]

Core Viewpoint - Tesla's stock experienced volatility ahead of a significant shareholder meeting, with a decline of over 2% to approximately $452 [1] Group 1 - Investors are preparing for what is described as the most consequential shareholder meeting for Tesla in years [1] - The stock price drop indicates market uncertainty and investor apprehension regarding the outcomes of the meeting [1]