CNBCยท2025-11-08 17:20Market Overview - The tech-heavy Nasdaq fell over 3%, marking its worst weekly performance since early April, while the S&P 500 declined by 1.6%, ending a three-week winning streak [1] - Concerns over high valuations in AI-related stocks contributed to the market decline, with Nvidia losing 7% and its $5 trillion market cap designation [1] - The ongoing government shutdown, the longest in U.S. history, is starting to negatively impact the economy, with job cuts reaching the highest level for any October in 22 years [1] Company-Specific Developments - Starbucks: The company is viewed positively despite recent stock declines, attributed to fears of a weakening consumer. The turnaround strategy under CEO Brian Niccol is seen as strong, with shares trading at lows not seen since early April [1] - Boeing: Following a disappointing earnings report, Boeing's stock dropped, but the long-term outlook remains positive due to improvements in its 737 program and increased production capacity [1] - GE Vernova: The company is benefiting from the demand for energy due to AI infrastructure growth, and the recent market downturn is seen as an opportunity to acquire more shares [1] - Eli Lilly: The company announced a pricing deal for weight-loss treatments that could expand its market. Positive mid-stage trial results for its obesity drug also contributed to a 7% increase in shares [1] - Eaton: The company reported mixed third-quarter results, beating adjusted EPS but missing on revenue. However, segment profit and profit margin reached new records [1] - DuPont: The company posted strong earnings following the spinoff of Qnity Electronics, with shares increasing by 16.5% to nearly $40 [1] - Texas Roadhouse: The company reported better-than-expected comps but raised its commodity inflation outlook due to higher beef prices, impacting profitability [1] - Qnity: The company is expected to grow from secular trends like AI, receiving a buy-equivalent rating and a price target of $110 [2]