Wall Street Live — Wednesday, October 14

5:40 PM — Eli Lilly (LLY), Merck (MRK), AbbVie (ABBV), and UnitedHealth (UNH) rose as markets fell on stronger inflation data, highlighting healthcare’s defensive strength.

5:19 PM — Rocket Lab (RKLB) pushes Neutron’s inaugural flight into 2027 to prioritize a reliable vehicle ready for high-cadence operations.

4:06 PM — S&P 500 and Nasdaq suffer worst losses since July as AI stocks slump and small caps enter correction territory amid rising inflation fears and expectations of further Fed rate hikes.

3:59 PM — Investors piled into Greenland-linked stocks after Trump’s Truth Social post, with Greenland Energy (GLND) jumping over 76%.

3:29 PM — GlobalFoundries (GFS) says its US-Japan initiative will boost earnings by 10-15 cents per share in 2027 and 50-75 cents yearly long-term. Profit margins rise 0.3-0.5% in 2027 and 1-2% annually later. It expects $3B extra free cash flow over 10 years.

3:03 PM — CoreWeave (CRWV) CEO Mike Intrator told staff the market is misunderstanding the company and acting irrationally. He’s confident in their business, customers, and execution. Delays at rival AI firms are hurting CoreWeave’s image, per Bloomberg.

1:30 PM — Shares of restaurant tech firm Toast (TOST) declined approximately 5% following Square’s launch of an AI-equipped self-service kiosk for food service operators.

1:01 PM — Anktiva (IBRX) receives expanded FDA approval for BCG-unresponsive high-grade papillary NMIBC, based on prior CIS data and disease similarities.

12:41 PM — Nvidia’s (NVDA) China AI-chip share fell to 34% in early 2026 after shipments dropped 44% due to US export limits. Huawei rose to 28% with 572,000 chips as China pushes local alternatives. Non-GPU chips now outsell traditional GPUs.

12:29 PM — CoreWeave’s (CRWV) unsecured bond yield reached 15% after Chamath’s note, prompting Elon Musk’s “Yikes” amid AI debt concerns. CRWV -16%, NBIS -10%, ORCL -8%.

11:57 AM — Faraday Future (FFAI) is selling its robotics unit to related firm FFR for ~$200M in stock (50% premium). FFAI keeps ~66% ownership of the new pure-play humanoid robotics company. Closes by late Oct; FFAI shifts to robotaxi network.

11:54 AM — National Fuel (NFG) is spinning off its Appalachian gas production and gathering business (IUG) into a new public company by late 2027, in a mostly tax-free deal. Remaining National Fuel becomes a pure regulated utility and pipeline firm; both aim for focused growth.

11:51 AM — STT dropped ~6.6% as Q3 revenue missed forecasts and fees fell from last quarter (weaker FX trading), despite a small profit beat. Raised expense outlook and soft inflows also disappointed, even with solid year-over-year growth.

11:39 AM — IONQ is raising nearly $2B by selling 20.5M shares + warrants at $40 (a premium) to one big investor, plus more high-price warrants. Cash goes to operations and possible deals. Stock dropped over 8% on dilution fears.

11:31 AM — Skydance (SKYD) stock price adjusts for new warrants issued to non-controlling holders, triggering a steep single-day decline.

10:07 AM — Progressive (PGR) stock fell ~10% after September/Q3 results showed quarterly profit down 3% from investment losses, slower premium growth (despite solid policy gains), and worries about a softening insurance market with more competition and lower rates. Underwriting remains strong.

10:03 AM — BofA analyst Matt Bullock raised Box’s (BOX) price target to a Street-high $50 (from $42), keeps a Buy rating, and names it his top pick. He calls Box an underappreciated AI winner in software and raised its growth forecasts for the next two years.

09:59 AM — Netflix (NFLX) is cutting about 6% of its workforce (~1,000 jobs), its biggest layoff since 2022. Most cuts are in product, tech, legal, and HR teams, per WSJ, as it faces tough competition while expanding into ads, live content, and gaming.

09:56 AM — Ultragenyx (RARE) agrees to sell a Rare Pediatric Disease Priority Review Voucher for $203M (from FDA approval of FAYUVI, first MPS IIIA treatment). Second PRV sale in a week; provides non-dilutive cash to fund rare disease therapies and support path to profitability.

09:47 AM — Following its $600 million IPO investment, Berkshire Hathaway has committed another $330 million to Bending Spoons (BSP), raising its stake to 4%.

09:32 AM — Dow, S&P 500 and Nasdaq fall at the open as hotter-than-expected inflation drives bond yields higher.

09:26 AM — VIR and Gilead (GILD) strike a collaboration on three PRO-XTEN dual-masked T-cell engagers for solid tumors, with up to $1.9B in potential payments.

09:08 AM — Up to $21 billion Japanese investment will fund two new chip factories in New York operated by GlobalFoundries (GFS), with production starting in 2029.

08:49 AM — Goldman Sachs upgraded GXO Logistics (GXO) to Buy from Neutral, keeping its $61 price target. After the stock’s recent drop, risk/reward looks better. GXO can grow in the expanding contract logistics market, expand in the U.S., and use AI plus better practices to lift margins and cash flow.

08:43 AM — Dow, S&P 500 and Nasdaq set to open lower as hotter-than-expected CPI lifts bond yields; Beige Book in focus.

08:38 AM — US September CPI rose 0.6% (matching the 0.6% consensus), driven by a 9.1% jump in gasoline. Year-over-year inflation hit 3.7% (vs. 3.6% expected). Core prices rose 0.3% monthly (above 0.2% forecast) and 2.6% annually (vs. 2.5%). Food was flat. Fuel costs keep pressure on consumers and the Fed.

08:33 AM — Rosenblatt says the drop in memory stocks after Chinese maker CXMT announced a new DDR5 chip due by late 2026 is overdone. Analyst Kevin Cassidy says the near-term threat is exaggerated and ignores rising DRAM demand. The firm keeps Buy ratings on Micron (MU) and SK Hynix (SKHY).

08:19 AM — Jefferies upgraded Brinker (EAT) to Buy and raised its price target to $255 from $230. The analyst says the restaurant chain has finished its turnaround and is now a lasting growth story. Stronger sales and profits create a cycle of reinvestment that should drive steady growth and market share gains for years.

08:11 AM — ServiceNow’s (NOW) COO Amit Zavery denied rumors the company plans to buy Decagon. He said they have no interest in the deal and still prefer growing on their own. Acquisitions only help speed up plans or enter new markets—not replace building products—and they see no need for big deals now.

08:04 AM — BofA cut Albertsons (ACI) to Underperform and dropped its price target to $12 from $16. The grocer had a solid quarter but paused its 2026 outlook while it reviews strategy, costs, operations, and stores. This could pressure profits and the stock price for the next 12-18 months.

08:01 AM — Positive multi-tumor data for Verastem’s (VSTM) VS-7375 support Phase 3 plans in pancreatic cancer alongside a $250 million financing.

07:43 AM — Morgan Stanley (MS) beat expectations with strong equity trading (up 41%) and solid wealth results, but the stock is flat in premarket. The equity jump was expected after Goldman’s (GS) similar print, and mixed results elsewhere (weaker fixed income, higher costs) limited the upside.

07:28 AM — Fastenal’s (FAST) Q3 sales rose 15.5% with better operating margins, but the stock fell in premarket. Investors focused on a slightly lower 2026 digital tools goal, higher spending plans, and ongoing gross margin pressure from bigger, lower-margin customers.

07:17 AM — Mizuho upgraded Albemarle (ALB) to Outperform from Neutral, holding a $130 target. Strong battery storage demand is improving the lithium market. The firm raised its 2027 Energy Storage price forecast to $21k from $17k and 2028 to $19k from $18k. Albemarle is the lowest-cost producer with a stronger balance sheet for flexibility.

06:59 AM — Bank of America (BAC) Q3 profit was $6.9B or 91 cents a share, missing the ~$1.10 consensus, due to a $1.2B fine for weak anti-money laundering controls and missing $5B+ in suspicious reports. Without the fine: $1.08, near estimates. Shares fell ~4%.

06:45 AM — BlackRock’s (BLK) Q3 profit jumped to $1.66B ($10.57/share GAAP; $15.93 adjusted vs. ~$14.30 consensus) from $1.32B last year. Revenue hit $7.75B (vs. ~$7.43B est). Assets under management hit $15.5T, boosted by $135B in ETF inflows and strong markets. Shares rose ~3.5% premarket.

06:33 AM — Barclays cut ratings on DELL, HPE, and NTAP after sharp rallies, pointing to high valuations and limited near-term AI catalyst in enterprise hardware. 

05:59 AM — Shares of Liquidia (LQDA) rose 56% after the company agreed to pay $380.7 million to end all litigation with United Therapeutics (UTHR) and secure YUTREPIA access.

05:40 AM — Ryan Cohen, GameStop’s (GME) CEO, bought about 844,000 more shares on Oct 13 for nearly $23 million at around $27 each. He now owns roughly 9.1% of the company, showing strong personal confidence in the stock.

05:36 AM — AZZ shares jumped 2.5% premarket after record sales rose 17% and adjusted profit jumped 29%. The company raised its full-year outlook, showing strong growth in metal coatings and better cash flow.

05:31 AM — AT&T (T) is selling its Mexico wireless unit to Grupo Televisa and Fintech Holdings for $2 billion cash (plus possible adjustments) so it can focus on building stronger fiber and 5G networks in the US. Deal set to close in early 2027; no changes for US customers.

05:28 AM — ASML reports strong Q3 results and says AI-driven demand for its chipmaking machines will exceed supply in both 2027 and 2028.

05:27 AM — Before Market Open: BAC, MS, BLK, PGR, FAST, STT (ASML already reported).

05:23 AM — The Dow, S&P 500 and Nasdaq are expected to open cautiously as investors await CPI data and the Fed’s Beige Book, with ASML and Bank of America (BAC) also in focus.