A late reversal turned a nervous session into a cheerful one, at least for part of the tape.
Meanwhile, a few data points suggest the consumer is running out of room to maneuver, and one overseas debut had a brutal morning that spooked traders across Asia. Read on for the full story, then see who made the biggest moves.
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Markets
Stocks abruptly reversed course on hopes of progress in U.S.-Iran diplomacy, sparked by an unverified report that mediators had floated a proposal to revive talks. Brent crude slipped back near $109 a barrel.
Earlier, Asian markets sold off after data-center startup Elice tanked more than 30% in its Seoul debut. At home, pending home sales for September plunged to the lowest level on record as surging mortgage rates froze buyers, a far bigger drop than economists expected.
Musk also pledged a SpaceX share to every American child next year, a gift worth roughly $10 billion. After the bell, SpaceX reports its second quarterly earnings as a public company, with investors hunting for clues on AI spending, while Netflix and United Airlines also report.
DJIA: [+1.02%]
S&P 500: [+0.28%]
Nasdaq: [-0.02%]
Russell 2000: [+1.72%]
Market-Moving News
Aerospace & Defense
Northrop Grumman raised its annual profit forecast after its backlog reached a record $109.6 billion, with stronger demand for military aircraft and missile programs supporting growth across its defense businesses.
Planet Labs launched its Pelican-12 Earth-observation satellite and established initial contact, adding upgraded imaging and satellite communications technology as the company tests faster data delivery and onboard AI processing for future spacecraft.
Crypto & Trading
Webull plans to introduce cryptocurrency perpetual futures for eligible U.S. customers in November, through a partnership with Kalshi, starting with Bitcoin and other crypto assets before expanding availability toward year-end.
CME Group reported the first block trades in its new Bitcoin Cash and Uniswap futures, with FalconX and GSR executing the inaugural transactions, expanding the exchange’s regulated cryptocurrency derivatives offering.
Consumer & Retail
Hasbro raised its annual revenue outlook as Magic: The Gathering delivered its first quarter above $600 million, with gaming demand and stronger toy sales supporting the company ahead of the holiday shopping season.
Revolve appointed Dwyane Wade chief performance officer for its REVOLVE Man and FWRD Man businesses, giving him product curation and brand strategy responsibilities as the retailer expands its contemporary and luxury menswear offerings.
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Cloud & Enterprise Software
Omnicom’s Credera signed a five-year collaboration with Amazon Web Services to develop cloud and AI tools for enterprise customers, covering marketing automation, contact centers and infrastructure modernization across six industries.
Broadcom extended its infrastructure software agreement with FedEx, supporting the delivery company’s private cloud and application modernization through a consolidated package that includes VMware Cloud Foundation, Avi Load Balancer and Tanzu Platform.
Biotech & Clinical Trials
Amgen and AstraZeneca released detailed Phase 3 results for Tezspire in eosinophilic esophagitis, showing improved swallowing symptoms and sustained reductions in tissue inflammation through 52 weeks as they investigate another potential use for the medicine.
Neurocrine Biosciences began a Phase 2 trial of its experimental Alzheimer’s treatment NBI-1117567, with approximately 135 adults expected to participate in a 12-week study evaluating cognition, safety, and tolerability alongside existing treatment.
Top Winners and Losers
Alpha Technology Group [ATGL] $6.93 (+52.64%)
Alpha Technology Group, a Hong Kong IT and AI services firm that sells custom language model tools under the AlphaClaw brand, rocketed on enormous volume.
The company reported just $0.6 million of revenue in the first half and a widening loss, so the stock trades at a steep multiple of sales, and this move leans on story over sales.
Braze [BRZE] $45.57 (+51.70%)
Braze agreed to be acquired by Salesforce for $47.50 a share in cash, an enterprise value of about $5.66 billion, and the stock shot up to within a couple of dollars of the offer price.
The customer engagement platform needs shareholder and regulatory approvals, and a $300 million breakup fee payable by Salesforce in certain cases adds a safety net.
Myriad Genetics [MYGN] $5.54 (+31.59%)
Myriad Genetics is selling its prenatal testing business to Labcorp for $210 million in cash plus inventory, shedding a unit that generated roughly $160 million in sales over the past year.
CEO Sam Raha says the sale should lift growth and profitability and strengthen the balance sheet, with proceeds redirected to cancer care. Closing is expected in early 2027.
Antelope Enterprise Holdings [AEHL] $8.39 (-16.18%)
Antelope Enterprise Holdings slipped again as last Wednesday’s frenzy keeps unwinding.
The stock spiked nearly 200% intraday that day before settling with a modest gain, and fresh share supply hangs over it: a $100 million at-the-market program, a $6 million convertible note and an August private placement. For a low-float name, supply can matter more than sentiment.
Home Bancorp [HBCP] $59.47 (-9.59%)
Home Bancorp slid sharply after third-quarter earnings of $1.28 a share missed analyst estimates. Six loans totaling $19.5 million moved to nonaccrual, pushing nonperforming assets up 37% to $53.7 million, and credit costs ate into profit.
For a regional bank, credit quality is the story, and investors read this report as an early warning flag.
Suja Life [SUJA] $10.31 (-9.24%)
Suja Life, the organic juice and wellness drink maker, slipped again as investors keep reassessing a rough debut year. It priced its May IPO at $21 and has roughly halved since, mostly after an August guidance cut tied to soft grocery demand.
Analysts remain split around a $25 average target, and a major shareholder added shares in September near $10.
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Everything Else
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📈 The S&P 500 and Nasdaq erased earlier losses as healthcare stocks surged and oil prices reversed course, helping Wall Street recover from a weaker start.
💼 Qualcomm plans to cut jobs worldwide through performance-focused layoffs, according to an internal memo, as the chipmaker adjusts its global workforce.
🤖 Anthropic is reportedly in talks for a second multibillion-dollar deal with Nscale, signaling continued investment in infrastructure needed to support advanced AI development.
🏠 U.S. single-family housing starts plunged as building permits hit a three-and-a-half-year low, highlighting persistent weakness in residential construction.
📦 Amazon plans to hire more than 300,000 holiday workers, its first seasonal hiring increase in three years, preparing for the year-end shopping rush.
That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!
Thanks for reading. I'll see you at the next open!
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— Adam G.
Elite Trade Club
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