Monday brought a mood swing, with last week’s most bruised corners of the market suddenly looking attractive again, at least for a day. Across the Atlantic, the vibe was far less cheerful, and a few big names have homework due soon.
Read on for the full picture, plus the stocks that made the biggest waves, for better or worse.
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Markets
Tech staged a comeback after last week’s rout, with the names hit hardest bouncing hardest. Memory-chip makers led the charge, and Intel recovered some ground after a double-digit weekly slide. Amazon jumped after Morgan Stanley raised its price target.
Europe told a different story: cost-of-living protests spiraled out of control in France over the weekend, French government bonds sold off, and the euro slipped.
The demonstrations underscored how hard it is to rein in public spending while debt balloons, and longer-dated bonds gave back last week’s recovery.
Back home, three-quarters of surveyed economists expect the 10-year Treasury yield to finish the year at 5% or higher. SpaceX reports earnings Tuesday after the close, with investors watching its data-center growth, while Brent hovered near $109.
DJIA: [-0.07%]
S&P 500: [+0.41%]
Nasdaq: [+1.11%]
Russell 2000: [+0.26%]
Market-Moving News
Software & Automation
Cognizant expanded its Google Cloud partnership with more than 18,000 employees focused on enterprise AI, establishing a new Gemini deployment group to modernize legacy systems, automate business processes, and strengthen cybersecurity.
Calix introduced new AI tools for broadband providers and their customers, including a conversational assistant for home-network management and expanded automation for marketing campaigns and network-health investigations.
Defense & Military Equipment
HII secured a $99 million U.S. Navy contract modification for sea trials of the destroyer Lyndon B. Johnson, advancing testing as the ship undergoes combat-system installation and modernization at Ingalls Shipbuilding.
RTX and Lockheed Martin’s Javelin joint venture won a $215 million U.S. Army production contract for lighter, more compact missile launchers, supporting replacement of older equipment with improved target-detection capabilities.
Semiconductors & Computing
Nvidia secured AI cloud startup Modal as a customer for its Vera central processors, with the company planning to deploy them for AI-agent workloads alongside its existing Intel and AMD hardware.
Amazon introduced software designed to make its Trainium AI chips easier to use, with TorchNeuron allowing existing PyTorch code to run with a single configuration change, reducing the need for developers to rewrite applications.
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Consumer & Household Brands
Unilever agreed to sell its Welly bandage business to Forward Consumer Partners, according to a Wall Street Journal report, continuing its portfolio restructuring while bringing Welly’s founder back as an adviser.
Central Garden & Pet announced its acquisition of seed and plant brand Burpee, adding an established home-gardening business with distribution across major retailers and e-commerce channels, while retaining Burpee’s management and Pennsylvania headquarters.
Medical Technology & Diagnostics
PacBio partnered with Verily Health to connect detailed genetic sequencing with clinical records, establishing a multiyear research collaboration designed to improve biomedical datasets and support the development and training of healthcare AI models.
GE HealthCare launched its LOGIQ Focus ultrasound system, combining advanced imaging with automated examination tools to help clinicians assess anatomy and streamline routine scans, with availability in markets where it has received regulatory approval.
Top Winners and Losers
Disc Medicine [IRON] $78.93 (+38.86%)
Disc Medicine’s pill for a rare sunlight-triggered pain disorder aced its pivotal trial. In the 183-patient study, bitopertin cut the culprit compound in the blood by about 41% and added roughly 12 hours a month of pain-free time in the light versus placebo.
After an earlier FDA rejection this year, the company plans to resubmit by year-end.
Cleveland-Cliffs [CLF] $14.10 (+16.34%)
Cleveland-Cliffs delivered its first quarterly profit in two years and then some.
Third-quarter adjusted EBITDA of $612 million topped its own guidance, a $165 million net profit reversed last quarter’s loss, and management says 2027 could top $4 billion as tight steel supply lifts prices.
It even postponed a blast furnace overhaul to keep producing.
MMTec [MTC] $6.92 (+14.00%)
MMTec, a Hong Kong firm that bills itself as a gateway to U.S. markets, followed up last week’s pop with another double-digit gain on very light volume.
The stock has multiplied several times over in the past year even though first-half revenue fell to zero, so every bounce is a bet on sentiment rather than sales.
SVRN [SVRN] $26.50 (-24.39%)
SVRN slid again as a short seller’s report keeps its grip.
Fugazi Research says the shipping-turned-crypto-treasury company has reverse split four times since 2022, lost its original auditor and missed its annual report deadline, with Nasdaq’s October 27 cutoff approaching. '
Those are allegations, and the shares have lost well over a third of their value since the report landed.
GIBO Holdings [GIBO] $51.63 (-12.62%)
GIBO Holdings, an Asia-based AI animation streaming platform, took a breather after a monster run that more than doubled the stock in early October.
The company has been stretching into AI data centers and blockchain-based media records, and raised capital through private placements this summer.
After a rally that steep, a double-digit pullback is the market catching its breath.
Hudson Pacific Properties [HPP] $9.02 (-12.38%)
Hudson Pacific Properties, the office and Hollywood studio landlord, tumbled as Wall Street turned more cautious.
Piper Sandler cut its rating to neutral and trimmed its price target to $13 from $15, and shares were already well below their recent averages. A director who bought at $13.40 in August is now sitting on a sizable paper loss.
The NYSE's closing auction, which sets the official 4pm price for its listed stocks, typically accounts for roughly what share of those stocks' total daily volume on an ordinary trading day?
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Everything Else
💡 The Magnificent Seven matured and seven new contenders with strong fundamentals and growing influence are already emerging quietly before the headlines catch up.
📈 The Nasdaq climbed more than 1% as AI-linked stocks rebounded ahead of key earnings, with falling oil prices and Treasury yields supporting Wall Street’s recovery.
🤖 Amazon introduced a tool to run AI code on its custom chips, strengthening its push to compete in the rapidly growing AI computing market.
💰 U.S. budget deficits remained elevated as rising borrowing costs added economic pressure ahead of the midterm elections, putting federal spending and debt back in focus.
⚖️ The U.S. Supreme Court rejected music labels’ challenge to a copyright termination ruling, preserving a decision affecting ownership rights in the music industry.
💻 AI chip startup Tenstorrent more than doubled its valuation to $6.2 billion in a new funding round, highlighting growing investor interest in alternatives to established chipmakers.
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