• Market overview: Futures rose this morning after Democrats swept the midterms, winning control of the House and Senate. Tesla (TSLA) and SpaceX (SPCX) declined amid political concerns, while AMD (AMD) surged on strong earnings and AI chip demand. Source: CNBC.
• Apple slides on rising costs: Apple (AAPL) shares fell about 4% on Tuesday as soaring memory chip prices squeezed margins despite strong iPhone sales. CEO John Ternus warned of further cost increases, with gross margins forecast to decline to 45%–46% in Q4. Source: Reuters.
• CVS to split into two companies: CVS Health (CVS) plans to separate its 9,000 retail pharmacies from its Aetna insurance and Caremark pharmacy-benefit operations by early 2028. Shareholders will own stakes in both publicly traded firms. Source: WSJ.
• 3M reaches $7.35B PFAS settlement: 3M (MMM) agreed to pay $7.35B over 9 years to settle claims involving PFAS chemicals, covering up to 120,000 plaintiffs. The company will record a $5.8B pretax charge in Q4. Source: WSJ.
• Meta launches debut euro bond sale: Meta (META) is issuing its first euro bonds after raising $15B in the U.S., as Big Tech borrowing reaches nearly $57B to fund AI infrastructure. Source: Bloomberg.
• Oracle may cancel $7B Tencent deal: Oracle (ORCL) is reportedly scrapping a 5-year, $7B chip leasing agreement with Tencent (HKG:0700) following Trump administration pressure. Source: Reuters.
• Google policy backlash, global buyouts: Alphabet (GOOGL) faced political criticism over plans to restrict Search at schools rejecting AI. The company has also extended voluntary exit offers to staff in 5 countries to control costs amid surging AI investment. Sources: CNBC / Reuters.
• Lockheed Martin settles anti-diversity probe: Lockheed Martin (LMT) agreed to pay $29.5M to resolve federal allegations of discriminatory hiring, pay, and promotion practices under its former DEI programs. The defense contractor denied wrongdoing. Source: WSJ.
• Apollo assets surpass $1T: Apollo (APO) reported $53B in Q3 inflows, lifting assets under management 18% to $1.07T, while fee-related earnings rose 23%. Shares fell 3.5% after a $1.06B accounting loss despite strong alternative investment demand. Source: Reuters.
• CrowdStrike launches AI kill switch: CrowdStrike (CRWD) introduced a tool that lets businesses shut down rogue AI agents, block restarts, and revoke network access. CEO George Kurtz sees growing demand for AI security as a major growth opportunity. Source: CNBC.
• Canva announces major restructuring: Canva is restructuring 22% of its workforce, affecting 1,271 employees through layoffs, relocations, and role changes. Slowing growth, rising AI costs, and valuation cuts have intensified pressure on the design software company. Source: BBC.

• AMD: AMD (AMD) reported record Q3 revenue of $13.4B, including $8.5B from data centers, and forecast $17B in Q4. The company expects revenue growth above 80% in 2027, driven by AI infrastructure demand. The stock surged 8% after hours. Sources: The Verge / CNBC.
• Novo Nordisk: Novo Nordisk (NVO) shares surged 6.1% premarket after Q3 adjusted operating profit rose 27% to DKK 31.7B, beating forecasts. Strong Wegovy pill sales drove a higher 2026 outlook, despite a 16% decline in reported net profit. Source: StockAnalysis.com.
• McDonald’s: McDonald’s (MCD) reported Q3 adjusted EPS of $3.57, beating estimates, while revenue of $7.16B missed forecasts. U.S. same-store sales fell 0.2% as traffic weakened, but global sales rose 1.5%. Shares gained over 2% premarket. Source: CNBC.
• Uber: Uber (UBER) fell nearly 2% premarket after forecasting Q4 adjusted earnings of $0.95–$0.99 per share, below the $1.06 estimate. Driver shortages, higher fuel costs, and the Middle East conflict are pressuring margins despite 10% revenue growth. Source: Reuters.
• Wayfair: Wayfair (W) reported a 9.7% revenue increase to $3.42B, beating estimates, as U.S. sales rose 11.4%. The retailer returned to profitability with $62M in net income, supported by market share gains and stronger customer demand. Source: CNBC.

• U.S. job openings surge: Job openings rose by 333,000 in September to 7.52M, beating forecasts, while layoffs fell to an 18-month low of 1.64M. Source: Reuters.
• Oil prices rise amid uncertainty: Brent crude rose 0.7% to $104.36, and WTI gained 0.7% to $96.72, as investors assessed the impact of the elections on U.S.-Iran peace talks. A surprise 5.27M-barrel drawdown in U.S. crude inventories also supported prices. Source: Reuters.
• Eurozone inflation rises in Oct.: Eurozone inflation rose to 4.0% in October, up from 3.8%, driven by a 20.8% surge in energy prices, while core inflation held at 2.5%. The increase strengthens expectations of an ECB rate hike in December. Source: StockAnalysis.com.

• Texas: James Talarico (D) defeated Ken Paxton (R) in the Senate race, while Gina Hinojosa (D) won the governor's race.
• Maine: Troy Jackson (D) defeated longtime Senator Susan Collins (R).
• Kansas: Adam Hamilton (D) unseated Senator Roger Marshall (R).
• Michigan: Abdul El-Sayed (D) defeated Mike Rogers (R).
• Ohio: Sherrod Brown (D) won the special Senate election, while Amy Acton (D) secured the governorship.
• Georgia: Jon Ossoff (D) won re-election to the Senate, while Keisha Lance Bottoms (D) won the governor’s race.
• North Carolina: Former Gov. Roy Cooper (D) won the Senate race.
• South Carolina: Annie Andrews (D) won the Senate race, defeating Darline Graham (R).

• North Korea escalates missile tests: North Korea launched several missiles on Wednesday, bringing known launches to 9 in two months, the fastest pace since 2023. Pyongyang rejected Trump's diplomatic overtures and demanded policy concessions. Source: WSJ.
• Trump plans to end U.S. aid to Israel: President Trump announced plans to halt $4B in annual aid to Israel in 2027, while continuing arms sales, though congressional approval remains uncertain. Source: AP.
• Ohio voters reject data centers: Voters in at least 14 Ohio towns approved restrictions on data centers, threatening projects linked to Amazon (AMZN) and Prologis (PLD). The backlash raises risks for billions in planned AI infrastructure. Source: StockAnalysis.com.

• 7:00 AM: MBA 30-Year Mortgage Rate 
• 8:15 AM: ADP Employment Change
• 8:30 AM: Balance of Trade
• 8:30 AM: Exports and Imports
• 10:00 AM: ISM Services PMI
• 10:30 AM: EIA Crude Oil Stocks Change & Gasoline Stocks Change 
• Friday: Non Farm Payrolls, Unemployment Rate, Michigan Consumer Sentiment Prelim.

Advanced Micro Devices (AMD) has released its quarterly earnings.

• Revenue of $13.38B (+44.68% YoY) beats by $279.33M.
• EPS of $2.09 (+74.17% YoY) beats by $0.20.
• Financials · As Reported · Metrics · Press Release

Amgen (AMGN) has released its quarterly earnings.

• Revenue of $10.37B (+8.45% YoY) beats by $320.68M.
• EPS of $6.45 (+14.36% YoY) beats by $0.68.
• Financials · As Reported · Metrics · Press Release

Shopify (SHOP) has released its quarterly earnings.

• Revenue of $3.74B (+31.58% YoY) misses by $1.50M.
• EPS of $0.49 (+44.12% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

Booking Holdings (BKNG) has released its quarterly earnings.

• Revenue of $9.79B (+8.71% YoY) beats by $245.26M.
• EPS of $4.66 (+17.09% YoY) beats by $0.17.
• Financials · As Reported · Metrics · Press Release

Suncor Energy (SU) has released its quarterly earnings.

• Revenue of $13.63B (+50.53% YoY) beats by $2.92B.
• EPS of $2.84 (+167.92% YoY) beats by $0.49.
• Financials · As Reported · Metrics · Press Release

Energy Transfer LP (ET) has released its quarterly earnings.

• Revenue of $37.10B (+85.94% YoY) beats by $4.04B.
• EPS of $0.33 (+17.86% YoY) misses by $0.08.
• Financials · As Reported · Metrics · Press Release

Keurig Dr Pepper (KDP) has released its quarterly earnings.

• Revenue of $7.34B (+70.55% YoY) beats by $5.88M.
• EPS of $0.66 (+22.22% YoY) beats by $0.04.
• Financials · As Reported · Metrics · Press Release

Prudential Financial (PRU) has released its quarterly earnings.

• Revenue of $13.49B (-14.29% YoY) misses by $828.01M.
• EPS of $3.77 (-6.91% YoY) beats by $0.44.
• Financials · As Reported · Metrics · Press Release

Sysco (SYY) has released its quarterly earnings.

• Revenue of $21.74B (+2.82% YoY) misses by $312.82M.
• EPS of $1.19 (+3.48% YoY) in line with estimates.
• Financials · As Reported · Metrics · Press Release

Fiserv (FISV) has released its quarterly earnings.

• Revenue of $5.20B (-1.27% YoY) beats by $356M.
• EPS of $1.75 (-14.22% YoY) beats by $0.03.
• Financials · As Reported · Metrics · Press Release

International Flavors & Fragrances (IFF) has released its quarterly earnings.

• Revenue of $1.94B (-27.91% YoY) beats by $32.38M.
• EPS of $0.83 (-20.95% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

Super Micro Computer (SMCI) has released its quarterly earnings.

• Revenue of $19.95B (+297.49% YoY) beats by $3.79B.
• EPS of $1.81 (+417.14% YoY) beats by $0.61.
• Financials · As Reported · Metrics · Press Release

Novo Nordisk (NVO) has released its quarterly earnings.

• Revenue of $11.90B (+1.32% YoY) beats by $510M.
• EPS of $0.87 (-15.53% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

McDonald's (MCD) has released its quarterly earnings.

• Revenue of $7.16B (+1.12% YoY) misses by $123.35M.
• EPS of $3.57 (+10.87% YoY) beats by $0.19.
• Financials · As Reported · Metrics · Press Release

Uber Technologies (UBER) has released its quarterly earnings.

• Revenue of $14.77B (+9.65% YoY) beats by $79.13M.
• EPS of $0.88 (+35.38% YoY) misses by $0.03.
• Financials · As Reported · Metrics · Press Release

CVS Health (CVS) has released its quarterly earnings.

• Revenue of $108.40B (+5.37% YoY) beats by $3.64B.
• EPS of $2.09 (+30.62% YoY) beats by $0.45.
• Financials · As Reported · Metrics · Press Release

Emerson Electric (EMR) has released its quarterly earnings.

• Revenue of $5.20B (+7.13% YoY) beats by $82.63M.
• EPS of $1.86 (+14.81% YoY) beats by $0.01.
• Financials · As Reported · Metrics · Press Release

The Kraft Heinz Company (KHC) has released its quarterly earnings.

• Revenue of $6.12B (-1.96% YoY) beats by $31.29M.
• EPS of $0.53 (-13.11% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

Snap Inc. (SNAP) will report today after close.

• Analysts estimate revenue of $1.73B (+14.68% YoY).
• EPS is estimated to be $0.03 (n/a YoY).
• Financials · As Reported · Metrics

Oscar Health (OSCR) will report tomorrow before market open.

• Analysts estimate revenue of $4.72B (+58.02% YoY).
• EPS is estimated to be -$0.16.
• Financials · As Reported · Metrics

Duke Energy (DUK) will report tomorrow before market open.

• Analysts estimate revenue of $8.96B (+4.87% YoY).
• EPS is estimated to be $1.86 (+2.76% YoY).
• Financials · As Reported · Metrics

Airbnb (ABNB) will report tomorrow after market close.

• Analysts estimate revenue of $4.75B (+15.98% YoY).
• EPS is estimated to be $2.86 (+29.41% YoY).
• Financials · As Reported · Metrics

Monster Beverage (MNST) will report tomorrow after market close.

• Analysts estimate revenue of $2.49B (+13.40% YoY).
• EPS is estimated to be $0.30 (+7.14% YoY).
• Financials · As Reported · Metrics

Moderna (MRNA) will report Friday.

• Analysts estimate revenue of $889.93M (-12.41% YoY).
• EPS is estimated to be -$1.22.
• Financials · As Reported · Metrics

Constellation Energy (CEG) will report Monday.

• Analysts estimate revenue of $9.22B (+40.39% YoY).
• EPS is estimated to be $3.88 (+27.63% YoY).
• Financials · As Reported · Metrics

• There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.