Market Overview - Most assets, including stocks and Treasuries, are currently stagnant, with gold, silver, crude oil, and Bitcoin trading slightly lower, while the dollar shows a minor increase [1] - Investors are awaiting the Federal Reserve's interest rate decision, with futures markets indicating a 25-basis point cut is fully priced in, and a 6% chance of a 50-basis point cut [2] Federal Reserve Meeting - The current Federal Reserve meeting is noted as unusual due to political influences, with President Trump advocating for a significant rate cut [3] - Fed Chairman Jay Powell and the committee are shifting focus from tariff-driven inflation to labor market weaknesses [4] Mortgage Rates and Refinancing - The 30-year mortgage rates have decreased, recently falling below 6.4%, which has led to a surge in refinancing applications, reaching the highest level since early 2022 according to the Mortgage Bankers Association [4] Company News: Workday Inc. - Workday Inc. shares are experiencing a surge following an activist investment from Elliott Management, which has acquired a $2 billion stake and aims to enhance the company's value [6] - Workday announced a $5 billion stock buyback plan over the next two years and disclosed the acquisition of AI-focused firm Sana for $1.1 billion [6]

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

Group 1: Stock Market Overview - U.S. stocks exhibited mixed performance, with the Dow Jones index increasing by over 200 points on Wednesday [1] Group 2: Notable Stock Movements - Lyft, Inc. shares surged by 13.5% to $22.92 following the announcement of an expansion plan with Waymo to Nashville, where Lyft's Flexdrive will manage Waymo's fully autonomous vehicles [1] - New Fortress Energy Inc. saw its shares jump 32.3% to $2.6501 after securing a long-term gas supply agreement with the Puerto Rican government [3] - Oruka Therapeutics, Inc. experienced a 14.1% increase in shares to $17.01 after announcing interim Phase 1 results for ORKA-001 and a $180 million private placement [3] - Robo.ai Inc. shares rose by 12.9% to $1.9190 [3] - Roivant Sciences Ltd. gained 12% to $15.89 after reporting Phase 3 results for brepocitinib in treating a debilitating skin-muscle disease [3] - Opendoor Technologies Inc. shares surged by 11.1% to $9.91 [3] - Gevo, Inc. also gained 11.1%, reaching $2.1089 [3] - Blue Gold Limited saw a 10.5% increase to $11.05 [3] - Workday, Inc. shares surged by 9% to $238.63 after an upgrade from Piper Sandler, raising the price target from $220 to $235 [3] - Parsons Corporation gained 6.9% to $80.64 after being awarded a task order for Indo-Pacific Counter-Nuclear Smuggling System Deployment [3] - e.l.f. Beauty, Inc. shares increased by 4.6% to $149.91, with B of A Securities maintaining a Buy rating and raising the price target from $135 to $160 [3]

Shares of Workday popped 9% on Wednesday after activist investor Elliott Investment Management announced a $2 billion stake in the company.Workday announced a multi-year plan to enhance its operating model and capital allocation framework on Tuesday, and Elliott said it believes the plan will drive "substantial long-term value creation.""We believe CEO Carl Eschenbach, CFO Zane Rowe and the entire Workday team have made substantial progress in recent years, positioning Workday as a unique software franchise ...

Workday's stock has underperformed this year, but Elliott Management has taken a stake in the software maker and the company is doubling down on its AI initiatives. ...

Core Insights - Workday's stock surged over 8.6%, reaching $238, marking a new high since late July [1] - Activist investor Elliott Management announced an investment of over $2 billion in Workday and publicly supports the current leadership team [1] - Workday's board approved a plan to repurchase up to $4 billion of its Class A common stock [1]

Core Insights - Workday shares experienced a significant increase in early trading after Elliott Investment Management disclosed a stake exceeding $2 billion in the company [2][4] - Elliott Investment Management commended Workday's leadership and expressed satisfaction with the company's strategic direction, particularly following its recent Financial Analyst Day [3][4] Company Performance - Prior to the announcement, Workday shares had declined by 15% in 2025 [1][4] - Following the news of Elliott's investment, Workday shares rose by more than 8% in early trading [4] Management and Strategy - Elliott Investment Management praised CEO Carl Eschenbach, CFO Zane Rowe, and the Workday team for their substantial progress and positioning of the company as a leading software franchise [3] - The company outlined plans to enhance its operating model and capital allocation framework, with a focus on increasing the use of artificial intelligence to improve customer efficiency [3]

Upgrades Summary - Loop Capital upgraded Netflix (NFLX) to Buy from Hold with a price target of $1,350, increased from $1,150, citing "exceptional" engagement on the platform in Q3 and a "strong" Q4 content slate [2] - Guggenheim upgraded Workday (WDAY) to Buy from Neutral with a price target of $285, indicating that Workday will be well positioned to accelerate growth when the environment improves [2] - Piper Sandler also upgraded Workday to Neutral from Underweight with a price target of $235, up from $220 [2] - Bernstein upgraded Zillow Group (ZG) to Outperform from Market Perform with a price target of $105, increased from $75, highlighting mid-teens revenue growth with Rentals and Showcase as growth drivers [2] - Roth Capital upgraded Kroger (KR) to Buy from Neutral with a price target of $75, up from $66, noting strong alternative profit streams while the stock's valuation lags peers [2] - Berenberg upgraded AbbVie (ABBV) to Buy from Hold with a price target of $270, increased from $170, stating the company has "successfully navigated the largest drug patent expiry in the world" [2]

Core Viewpoint - Workday's stock price increased by over 9% following Elliott Management's announcement of acquiring more than $2 billion in shares, highlighting investor confidence in the company's growth potential and management team [1] Group 1: Investment and Share Buyback - Elliott Management has become one of Workday's largest investors with an investment exceeding $2 billion [1] - Workday's board approved an additional share buyback plan of up to $4 billion for its Class A common stock, aiming to repurchase approximately $5 billion in total by fiscal year 2027 [1] Group 2: Management and Strategic Outlook - Elliott expressed confidence in Workday's CEO Carl Eschenbach and CFO Zane Rowe, noting significant progress in establishing Workday as a unique software brand with industry-leading growth potential and high customer retention [1] - The communication between Elliott and Workday's management team has been positive, reinforcing the belief in the long-term value of the company's strategic plans [1] Group 3: Partnerships and Acquisitions - Workday announced a partnership with Microsoft to provide various AI solutions for customers and partners [1] - The company plans to acquire Sana, an AI company developing next-generation enterprise knowledge tools, for approximately $1.1 billion [1]

Group 1 - Workday's stock price increased by over 9% following Elliott Management's announcement of acquiring more than $2 billion in shares [1] - Elliott Management is now one of Workday's largest investors, expressing confidence in the company's growth potential and management team [1] - Workday's board approved a plan to repurchase up to $4 billion of its Class A common stock, aiming for a total repurchase of approximately $5 billion by fiscal year 2027 [1] Group 2 - Workday announced a partnership with Microsoft to provide various AI solutions for customers and partners [2] - The company plans to acquire Sana, an AI company focused on developing next-generation enterprise knowledge tools, for approximately $1.1 billion [2]