🤝 From rivals to partners

Good evening. The U.S. government officially shut down, with investors betting the disruption will be short-lived.

⬆︎⬇︎ 1-day change
Market data: today’s market close

WINNERS

⬆︎23.29% Lithium Americas

It’s official: the U.S. will take a 5% stake in Lithium Americas, a Canadian miner, and another 5% in its Nevada-based Thacker Pass project, set to become one of the largest lithium sources in North America by 2027. The move comes after the company, General Motors, and the Energy Department reworked a $2.2 billion federal loan tied to the project. [Read more]

⬆︎16.79% AES

One of the biggest utility deals in history may be brewing. AES, a renewable power provider that supplies energy to AI data centers for Google, Amazon, and Microsoft, is reportedly in advanced talks to be acquired by BlackRock’s Global Infrastructure Partners in a deal valued at around $38 billion including debt. [Read more]

⬆︎7.12% Intel

Chip rivals might soon become partners. Intel is reportedly in early talks to make some of AMD’s chips in its factories. AMD usually relies on Taiwan’s TSMC for production, but U.S. pressure to build more chips domestically has pushed companies to consider Intel despite its weaker technology. [Read more]

⬆︎6.41% Nike

🔔 Earnings report - Nike beat earnings and revenue expectations as its turnaround plan shows early progress, with strong growth in running shoes and wholesale sales offsetting weakness in China and at Converse. To navigate a $1.5 billion tariff impact, it’s shifting production away from China, rolling out price hikes in the U.S., and releasing new running shoes each season. [Read more]

MORE WINNERS

⬆︎54.90% Fermi
⬆︎9.28% SMCI
⬆︎8.86% Micron

⬆︎⬇︎ 1-day change
Market data: today’s market close

LOSERS

⬇︎2.34% Netflix

Elon Musk urged his 226 million X followers to cancel their subscriptions, accusing the streaming platform of pushing a “trans ideology” in kids’ shows like Dead End: Paranormal Park. He also criticized Netflix’s diversity report, which showed over 70% of its series had underrepresented leads in 2023. [Read more]

⬇︎9.11% Corteva

After considering it for a couple of weeks, Corteva is officially breaking itself in two. The agriculture company, known for seeds and pesticides, plans to spin off those businesses into separate publicly traded firms so each can focus more tightly on growth and strategy. The split could bring extra costs of up to $100 million. [Read more]

⬇︎11.91% Reddit

A new study found that ChatGPT cited Reddit content in just 2% of responses at the end of September, down from nearly 10% a month earlier, according to Promptwatch. For Reddit, which makes money by licensing its data, the trend shows both the importance of its content and the risk of being less central to AI models over time. [Read more]

MORE LOSERS

⬇︎2.32% Meta
⬇︎8.21% Concorde
⬇︎13.42% Wix.com

⬆︎⬇︎ 1-day change
Market data: today’s market close

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