DailyEdge

Nvidia, a leader in AI chips, faces slowing growth and supply chain challenges ahead of its Q3 results. Investors are focused on its new Blackwell processors, which are expected to generate billions amid tight production capacity.

Facing mounting debts and blocked merger attempts, Spirit Airlines has filed for bankruptcy. The discount airline seeks to restructure after major carriers and labor costs challenged its ultra-low-cost model.

The company will receive up to $6.6 billion in CHIPS Act funding to support its $65 billion investment in three advanced fabs in Arizona. The facilities mark the largest greenfield foreign investment in U.S. history, with the first set to open next year.

The company shares rose 5% after the company reaffirmed its 2030 revenue target of €44-60 billion, calming investor concerns following a recent profit warning. The chip equipment giant anticipates strong AI-driven demand, forecasting robust growth through advanced lithography innovations.

SoftBank's Japanese telecoms unit will receive the first chips using Nvidia's latest Blackwell design for its supercomputer, the California-based chip designer said, as Masayoshi Son looks to ride the artificial intelligence boom.

Bayer’s shares dropped 8% in Frankfurt after warning of weaker-than-expected agricultural markets and pricing pressures in crop protection, cutting its EBITDA forecast. The company remains optimistic about its pharma business hitting the upper end of its 2024 targets.

Toyota revamps its China strategy, aiming for 2.5 million vehicles a year by 2030 to stay competitive with local EV giants. The plan empowers local teams and boosts production efficiency to solidify its place in the world’s top car market.

Chinese stocks slumped as investors saw the latest $840 billion local debt increase and 4 trillion yuan bond issuance as underwhelming. Experts speculate Beijing might hold back stronger measures until there’s more insight into potential policy shifts under a new U.S. administration.

Moderna posted an unexpected profit of $13 million in Q3, driven by robust COVID-19 vaccine sales and strategic cost reductions. Despite lagging RSV vaccine sales, the company reaffirmed its annual revenue outlook and plans to fast-track future vaccine approvals.

Stocks surged as Trump claimed early victory, with Tesla rising 11% and Trump Media 30% amid investor anticipation of a pro-business administration. The Russell 2000 small-cap index and major banks rallied, while renewable energy shares slumped on fears of regulatory rollbacks.