Ticklex.AI - Real-time Financial News

OCT 20, 2026夜盘交易 20:00 - 04:00
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CRISPR Therapeutics Names A.J. Silver CFO as Raju Prasad Departs

CRISPR Therapeutics Inc. (CRSP) said Chief Financial Officer Raju Prasad will step down to pursue other opportunities, with Senior Vice President of Finance A.J. Silver succeeding him as CFO effective immediately.
Silver has served as SVP of Finance since January 2025 and has held leadership roles across strategic finance, treasury, financial planning and analysis, accounting, tax and financial operations since joining the company in 2018. He previously spent more than a decade at Ernst & Young LLP, where he qualified as a Certified Public Accountant.
The company's CASGEVY gene-edited cell therapy generated revenue of $76 million in the second quarter of 2026. Net loss for the quarter was $91.2 million, compared with a net loss of $208.5 million a year earlier. Cash, cash equivalents and marketable securities totaled $2.36 billion as of June 30, 2026.
CRSP closed Monday's trade at $50.04, up 1.60%, and was recently down 0.86% at $49.61.

CRISPR Therapeutics Inc. (CRSP) said Chief Financial Officer Raju Prasad will step down to pursue other opportunities, with Senior Vice President of Finance A.J. Silver succeeding him as CFO effective immediately.

Silver has served as SVP of Finance since January 2025 and has held leadership roles across strategic finance, treasury, financial planning and analysis, accounting, tax and financial operations since joining the company in 2018. He previously spent more than a decade at Ernst & Young LLP, where he qualified as a Certified Public Accountant.

The company's CASGEVY gene-edited cell therapy generated revenue of $76 million in the second quarter of 2026. Net loss for the quarter was $91.2 million, compared with a net loss of $208.5 million a year earlier. Cash, cash equivalents and marketable securities totaled $2.36 billion as of June 30, 2026.

CRSP closed Monday's trade at $50.04, up 1.60%, and was recently down 0.86% at $49.61.

ET 03:01

BAE Systems Signs Multi-Year Deal With U.S. War Department to Boost APKWS Production to 35,000 Units Annually

BAE Systems (BA.L) announced Monday it has signed a multi-year framework agreement, spanning up to seven years of multi-year procurement, with the U.S. Department of War to expand production capacity of its APKWS laser-guidance kits to as many as 35,000 units per year. Financial terms were not disclosed.
The APKWS kits convert unguided 2.75-inch rockets into precision-guided munitions and are used in counter-drone operations, with effectiveness across air-to-surface, surface-to-surface, surface-to-air and air-to-air engagements.
The kits are manufactured at BAE facilities in Hudson, New Hampshire, and Austin, Texas. Shares of the London-listed aerospace and defense company closed Monday at 1,952.50 pence, down 1.56% on the London Stock Exchange.

BAE Systems (BA.L) announced Monday it has signed a multi-year framework agreement, spanning up to seven years of multi-year procurement, with the U.S. Department of War to expand production capacity of its APKWS laser-guidance kits to as many as 35,000 units per year. Financial terms were not disclosed.

The APKWS kits convert unguided 2.75-inch rockets into precision-guided munitions and are used in counter-drone operations, with effectiveness across air-to-surface, surface-to-surface, surface-to-air and air-to-air engagements.

The kits are manufactured at BAE facilities in Hudson, New Hampshire, and Austin, Texas. Shares of the London-listed aerospace and defense company closed Monday at 1,952.50 pence, down 1.56% on the London Stock Exchange.

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M&A

Fortrea Completes $45 Million All-Cash Acquisition of Worldwide Clinical Trials' Early Phase Services Units

Fortrea Holdings Inc. (FTRE) said it completed its $45 million all-cash purchase of Worldwide Clinical Trials' Early Phase Services division, expanding the contract research organization's early-phase development capacity to more than 570 beds globally.
The acquired assets include a 200-bed GCP-compliant clinical research unit in San Antonio, Texas; a 60,000-square-foot GLP-compliant bioanalytical laboratory in Austin, Texas; and a biospecimen storage facility in Pflugerville, Texas. The deal adds dedicated bioanalytical capabilities for large and small molecules.
The operations will join Fortrea's Clinical Pharmacology Services business unit. Fortrea said integrating clinical pharmacology and bioanalytical services should reduce operational handoffs and streamline study execution from first-in-human studies through proof-of-concept and later-stage trials. The companies also signed agreements to maintain continuity for clients, employees and ongoing studies during the transition.
FTRE closed on Monday at $22.42, down 0.31%.

Fortrea Holdings Inc. (FTRE) said it completed its $45 million all-cash purchase of Worldwide Clinical Trials' Early Phase Services division, expanding the contract research organization's early-phase development capacity to more than 570 beds globally.

The acquired assets include a 200-bed GCP-compliant clinical research unit in San Antonio, Texas; a 60,000-square-foot GLP-compliant bioanalytical laboratory in Austin, Texas; and a biospecimen storage facility in Pflugerville, Texas. The deal adds dedicated bioanalytical capabilities for large and small molecules.

The operations will join Fortrea's Clinical Pharmacology Services business unit. Fortrea said integrating clinical pharmacology and bioanalytical services should reduce operational handoffs and streamline study execution from first-in-human studies through proof-of-concept and later-stage trials. The companies also signed agreements to maintain continuity for clients, employees and ongoing studies during the transition.

FTRE closed on Monday at $22.42, down 0.31%.

ET 03:01

Honeywell Aerospace Projects 9,950 Business Jet Deliveries Over Next Decade, Up 4.4%

Honeywell Aerospace (HONA) on Monday forecast 9,950 new business jet deliveries over the next decade, a 4.4 percent increase from last year's outlook, citing sustained delivery growth and low retirement rates.
The projection includes approximately 14,000 total business aircraft deliveries from 2026 and 4,200 turboprop deliveries. Honeywell expects the global business aviation fleet to expand about 29 percent, from roughly 39,400 aircraft in 2025 to nearly 51,000 in 2035. Annual deliveries are seen rising from about 1,280 aircraft in 2026 to more than 1,500 by 2035, with new aircraft value exceeding $37 billion annually by the end of the forecast period. Global business aviation flight hours are expected to grow approximately 34 percent, driven by fleet expansion and higher utilization among charter and fractional operators.
Honeywell said the industry is approaching an inflection point as rising deliveries and low retirement rates accelerate fleet growth. Shares closed at $162.49 on the Nasdaq, down 3.33%.

Honeywell Aerospace (HONA) on Monday forecast 9,950 new business jet deliveries over the next decade, a 4.4 percent increase from last year's outlook, citing sustained delivery growth and low retirement rates.

The projection includes approximately 14,000 total business aircraft deliveries from 2026 and 4,200 turboprop deliveries. Honeywell expects the global business aviation fleet to expand about 29 percent, from roughly 39,400 aircraft in 2025 to nearly 51,000 in 2035. Annual deliveries are seen rising from about 1,280 aircraft in 2026 to more than 1,500 by 2035, with new aircraft value exceeding $37 billion annually by the end of the forecast period. Global business aviation flight hours are expected to grow approximately 34 percent, driven by fleet expansion and higher utilization among charter and fractional operators.

Honeywell said the industry is approaching an inflection point as rising deliveries and low retirement rates accelerate fleet growth. Shares closed at $162.49 on the Nasdaq, down 3.33%.

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Operational

Nokia and SoftBank Corp. to Run Commercial AI-RAN Field Trial in Japan in 2027

Nokia Oyj (NOK) said Tuesday it agreed with SoftBank Corp. (9434.T) to conduct a commercial AI-RAN field trial in Japan in 2027, testing the technology in a live network under commercial traffic conditions.
The deployment will use Nokia's anyRAN software on SoftBank's AITRAS AI-RAN platform with NVIDIA's Aerial RAN Computer and the AITRAS Orchestrator. The trial will assess key AI-RAN capabilities and move the technology from laboratory development toward real-world deployment, advancing Nokia's commercialization roadmap.
Nokia said AI-RAN could unlock new levels of spectral efficiency and provide distributed intelligence to support physical AI. In overnight NYSE trading, Nokia shares fell 0.88% to $9.00; SoftBank Corp. shares traded at 246.10 yen in Tokyo, down 0.08%.

Nokia Oyj (NOK) said Tuesday it agreed with SoftBank Corp. (9434.T) to conduct a commercial AI-RAN field trial in Japan in 2027, testing the technology in a live network under commercial traffic conditions.

The deployment will use Nokia's anyRAN software on SoftBank's AITRAS AI-RAN platform with NVIDIA's Aerial RAN Computer and the AITRAS Orchestrator. The trial will assess key AI-RAN capabilities and move the technology from laboratory development toward real-world deployment, advancing Nokia's commercialization roadmap.

Nokia said AI-RAN could unlock new levels of spectral efficiency and provide distributed intelligence to support physical AI. In overnight NYSE trading, Nokia shares fell 0.88% to $9.00; SoftBank Corp. shares traded at 246.10 yen in Tokyo, down 0.08%.

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M&A

ABB to Buy 51% Stake in Mitsubishi Electric Low-Voltage JV for JPY 82.4 Billion

ABB Ltd. (ABB.ST, ABBNY) announced Tuesday it will acquire a 51% controlling stake in a low-voltage power distribution joint venture with Mitsubishi Electric Corp. (6503.T) for JPY 82.4 billion, or about $516 million. The transaction is expected to close in the second half of 2027.
The new entity is slated to be established December 1, with business transfer and closing set for October 1, 2027. Mitsubishi Electric will retain 49%. The business, covering circuit breakers, switches, measurement and control equipment, and uninterruptible power supplies, posted net sales of roughly JPY 102.2 billion in the fiscal year ended March 2026 and employs about 2,800 people.
ABB expects the deal to be accretive to earnings per share after the first year and to reach an operational EBITA margin of at least 20% within five years. Mitsubishi Electric anticipates a gain of approximately JPY 90 billion in the fiscal year ending March 2028. ABB closed Monday down 1.38% at SEK 897.40 in Stockholm.

ABB Ltd. (ABB.ST, ABBNY) announced Tuesday it will acquire a 51% controlling stake in a low-voltage power distribution joint venture with Mitsubishi Electric Corp. (6503.T) for JPY 82.4 billion, or about $516 million. The transaction is expected to close in the second half of 2027.

The new entity is slated to be established December 1, with business transfer and closing set for October 1, 2027. Mitsubishi Electric will retain 49%. The business, covering circuit breakers, switches, measurement and control equipment, and uninterruptible power supplies, posted net sales of roughly JPY 102.2 billion in the fiscal year ended March 2026 and employs about 2,800 people.

ABB expects the deal to be accretive to earnings per share after the first year and to reach an operational EBITA margin of at least 20% within five years. Mitsubishi Electric anticipates a gain of approximately JPY 90 billion in the fiscal year ending March 2028. ABB closed Monday down 1.38% at SEK 897.40 in Stockholm.

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Earnings

BHP Q1 Copper Output Falls 19% on Grade Declines, Weather; Iron Ore Rises 4%, Shares Drop

BHP Group Ltd. (BHP, BLT.L, BHP.AX) reported first-quarter copper production fell 19% year-over-year to 400.7 kt, while iron ore output rose 4% to 66.5 mt, the mining giant said Tuesday. Shares in Australia traded at A$59.40, down 1.74%.
Copper output declined both year-over-year and sequentially, reflecting planned grade declines, scheduled maintenance, severe weather disruptions in Chile, safety-related stoppages and a conveyor failure at Carrapateena. Escondida production totaled 252.6 kt, down 23% from a year earlier.
Average realized copper prices climbed 53%, while iron ore prices dropped 9%. Iron ore production slipped 2% sequentially.
BHP maintained its fiscal 2027 guidance, still expecting copper production of 1,650 kt to 1,800 kt and iron ore production of 260 Mt to 272 Mt.

BHP Group Ltd. (BHP, BLT.L, BHP.AX) reported first-quarter copper production fell 19% year-over-year to 400.7 kt, while iron ore output rose 4% to 66.5 mt, the mining giant said Tuesday. Shares in Australia traded at A$59.40, down 1.74%.

Copper output declined both year-over-year and sequentially, reflecting planned grade declines, scheduled maintenance, severe weather disruptions in Chile, safety-related stoppages and a conveyor failure at Carrapateena. Escondida production totaled 252.6 kt, down 23% from a year earlier.

Average realized copper prices climbed 53%, while iron ore prices dropped 9%. Iron ore production slipped 2% sequentially.

BHP maintained its fiscal 2027 guidance, still expecting copper production of 1,650 kt to 1,800 kt and iron ore production of 260 Mt to 272 Mt.

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M&A

Plus500 Agrees to Acquire Brazilian Broker-Dealer Guru

Plus500 Ltd. (PLUS.L, PLSQF) said Tuesday it has conditionally agreed to acquire full ownership of Guru Corretora de Títulos e Valores Mobiliários Ltda., a regulated broker-dealer in Brazil, for undisclosed terms.
The fintech company will fund the transaction entirely from existing cash resources exceeding $860 million as of June 30. Completion is subject to customary regulatory approvals and other standard closing conditions, with consideration payable upon closing.
Plus500 said the deal provides a direct presence in Brazil and expands its Latin American operations, enabling it to offer Brazilian stocks, futures, options and fixed-income securities, subject to applicable regulatory requirements. On Monday, Plus500 closed 1.72% lower at GBp 3,318 on the London Stock Exchange.

Plus500 Ltd. (PLUS.L, PLSQF) said Tuesday it has conditionally agreed to acquire full ownership of Guru Corretora de Títulos e Valores Mobiliários Ltda., a regulated broker-dealer in Brazil, for undisclosed terms.

The fintech company will fund the transaction entirely from existing cash resources exceeding $860 million as of June 30. Completion is subject to customary regulatory approvals and other standard closing conditions, with consideration payable upon closing.

Plus500 said the deal provides a direct presence in Brazil and expands its Latin American operations, enabling it to offer Brazilian stocks, futures, options and fixed-income securities, subject to applicable regulatory requirements. On Monday, Plus500 closed 1.72% lower at GBp 3,318 on the London Stock Exchange.

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Regulatory

Anteris Wins German BfArM Clearance for PARADIGM DurAVR Trial; AVR Shares Rise

Anteris Technologies Global Corp. (AVR) said it received full regulatory clearance from Germany's Federal Institute for Drugs and Medical Devices (BfArM) to launch the global PARADIGM pivotal trial of its DurAVR transcatheter heart valve (THV) in patients with severe calcific aortic stenosis. The stock closed Monday's trade at $6.18, up 2.15%, and rose 3.40% to $6.39 in overnight trading.
The clearance allows Anteris to begin patient recruitment at German sites and expand the trial's European footprint. Germany is Europe's largest TAVR market.
PARADIGM is a prospective randomized controlled trial expected to enroll approximately 1,000 patients, assigned 1:1 to receive DurAVR or an approved transcatheter heart valve. The primary endpoint is a composite of all-cause mortality, stroke, and cardiovascular hospitalization at one year.
AVR has traded between $3.30 and $11.06 over the past year.

Anteris Technologies Global Corp. (AVR) said it received full regulatory clearance from Germany's Federal Institute for Drugs and Medical Devices (BfArM) to launch the global PARADIGM pivotal trial of its DurAVR transcatheter heart valve (THV) in patients with severe calcific aortic stenosis. The stock closed Monday's trade at $6.18, up 2.15%, and rose 3.40% to $6.39 in overnight trading.

The clearance allows Anteris to begin patient recruitment at German sites and expand the trial's European footprint. Germany is Europe's largest TAVR market.

PARADIGM is a prospective randomized controlled trial expected to enroll approximately 1,000 patients, assigned 1:1 to receive DurAVR or an approved transcatheter heart valve. The primary endpoint is a composite of all-cause mortality, stroke, and cardiovascular hospitalization at one year.

AVR has traded between $3.30 and $11.06 over the past year.

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Earnings

Zions Bancorporation Q3 EPS Rises 20% to $1.78 on Improved Credit Quality

Zions Bancorporation NA (ZION) reported third-quarter earnings of $262 million, or $1.78 per share, up 20% from $221 million, or $1.48 per share, a year earlier, the lender said. Net loan charge-offs fell to $3 million from $56 million, which the company attributed primarily to improved credit quality.
Excluding items, profit was $264 million versus $223 million. Total non-interest income rose to $197 million from $189 million, and net interest income increased to $684 million from $672 million. Total interest income slipped to $1.046 billion from $1.064 billion.
Loans held for investment, net of allowance, stood at $61.827 billion, compared with $59.599 billion a year ago. Total deposits were $77.948 billion, up from $74.878 billion. CEO Harris H. Simmons cited the credit-quality improvement as the main driver of higher earnings.

Zions Bancorporation NA (ZION) reported third-quarter earnings of $262 million, or $1.78 per share, up 20% from $221 million, or $1.48 per share, a year earlier, the lender said. Net loan charge-offs fell to $3 million from $56 million, which the company attributed primarily to improved credit quality.

Excluding items, profit was $264 million versus $223 million. Total non-interest income rose to $197 million from $189 million, and net interest income increased to $684 million from $672 million. Total interest income slipped to $1.046 billion from $1.064 billion.

Loans held for investment, net of allowance, stood at $61.827 billion, compared with $59.599 billion a year ago. Total deposits were $77.948 billion, up from $74.878 billion. CEO Harris H. Simmons cited the credit-quality improvement as the main driver of higher earnings.

ET 03:01

Ascletis (1672.HK) Reports Positive Preclinical Data for Once-Weekly Oral Obesity Drug Pipeline

Ascletis Pharma Inc. (1672.HK) announced positive preclinical data for its once-weekly oral peptide pipeline targeting obesity and metabolic diseases, with shares up 0.26% at HK$5.86 in Hong Kong trading.
ASC36o, an oral amylin receptor peptide agonist in a U.S. Phase I study, showed a half-life of up to 167 hours and oral bioavailability of 6% to 8% at steady state in non-human primates. In a head-to-head study in diet-induced obese rats, ASC36 achieved 32% greater body-weight reduction than eloralintide and 91% more than petrelintide.
The company also developed two once-weekly oral fixed-dose combinations, ASC36_37o and ASC36_35o, which achieved half-lives of roughly 8.3 and 8.8 days with oral bioavailability of at least 10% in NHPs. All candidates use Ascletis' proprietary POTENT technology.
Ascletis expects topline human pharmacokinetic data for ASC36o by the end of 2026 and plans to submit Investigational New Drug applications for four additional once-weekly oral peptide programs by year-end. Shares have traded between HK$5.40 and HK$19.86 over the past 52 weeks.

Ascletis Pharma Inc. (1672.HK) announced positive preclinical data for its once-weekly oral peptide pipeline targeting obesity and metabolic diseases, with shares up 0.26% at HK$5.86 in Hong Kong trading.

ASC36o, an oral amylin receptor peptide agonist in a U.S. Phase I study, showed a half-life of up to 167 hours and oral bioavailability of 6% to 8% at steady state in non-human primates. In a head-to-head study in diet-induced obese rats, ASC36 achieved 32% greater body-weight reduction than eloralintide and 91% more than petrelintide.

The company also developed two once-weekly oral fixed-dose combinations, ASC36_37o and ASC36_35o, which achieved half-lives of roughly 8.3 and 8.8 days with oral bioavailability of at least 10% in NHPs. All candidates use Ascletis' proprietary POTENT technology.

Ascletis expects topline human pharmacokinetic data for ASC36o by the end of 2026 and plans to submit Investigational New Drug applications for four additional once-weekly oral peptide programs by year-end. Shares have traded between HK$5.40 and HK$19.86 over the past 52 weeks.

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Operational

AstraZeneca, Oracle Sign Non-Binding AI Deal to Improve Clinical Trials

AstraZeneca PLC (AZN) and Oracle Health & Life Sciences (ORCL) announced Tuesday a global artificial intelligence collaboration to improve clinical trial recruitment, earlier disease diagnosis, drug safety monitoring and use of real-world evidence. The companies signed a non-binding term sheet; financial terms were not disclosed.
The partnership combines AstraZeneca's clinical development and regulatory expertise with Oracle's real-world data, cloud infrastructure and AI-enabled clinical capabilities. Projects will span oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology, and rare diseases across the U.S., Middle East and Europe.
The first program targets hypertension care and clinical research in Abu Dhabi with healthcare company M42, aiming to identify patients with uncontrolled hypertension and support guideline-directed treatment. The companies will use de-identified data under privacy safeguards; AstraZeneca will not receive patient-identifiable information. Each project requires separate legal, regulatory, ethical and institutional review.
AZN closed Monday at $163.95, down 0.88%. Oracle closed at $129.59, up 1.06%.

AstraZeneca PLC (AZN) and Oracle Health & Life Sciences (ORCL) announced Tuesday a global artificial intelligence collaboration to improve clinical trial recruitment, earlier disease diagnosis, drug safety monitoring and use of real-world evidence. The companies signed a non-binding term sheet; financial terms were not disclosed.

The partnership combines AstraZeneca's clinical development and regulatory expertise with Oracle's real-world data, cloud infrastructure and AI-enabled clinical capabilities. Projects will span oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology, and rare diseases across the U.S., Middle East and Europe.

The first program targets hypertension care and clinical research in Abu Dhabi with healthcare company M42, aiming to identify patients with uncontrolled hypertension and support guideline-directed treatment. The companies will use de-identified data under privacy safeguards; AstraZeneca will not receive patient-identifiable information. Each project requires separate legal, regulatory, ethical and institutional review.

AZN closed Monday at $163.95, down 0.88%. Oracle closed at $129.59, up 1.06%.

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M&A

FirstService's Century Fire Protection Acquires A&A Fire Protection; Terms Undisclosed

FirstService Corporation (FSV.TO) said its subsidiary Century Fire Protection has acquired fire sprinkler services provider A&A Fire Protection. Financial terms of the transaction were not disclosed.
A&A President Jake Gilstrap will continue to oversee day-to-day operations and retain a minority stake in the company, FirstService said.
"This acquisition furthers Century's strategy of enhancing its scale and broadening its client base in existing markets," said Richard Deeb, CEO of Century.
FirstService shares closed down 1.85% at C$188.62 in Toronto on Monday.

FirstService Corporation (FSV.TO) said its subsidiary Century Fire Protection has acquired fire sprinkler services provider A&A Fire Protection. Financial terms of the transaction were not disclosed.

A&A President Jake Gilstrap will continue to oversee day-to-day operations and retain a minority stake in the company, FirstService said.

"This acquisition furthers Century's strategy of enhancing its scale and broadening its client base in existing markets," said Richard Deeb, CEO of Century.

FirstService shares closed down 1.85% at C$188.62 in Toronto on Monday.

ET 02:33

Yen Rebounds as Record JGB Auction Demand Offsets European Political Risk; Euro Rallies 0.2%

The yen snapped a two-day losing streak against the dollar in Asian trading on Tuesday after a 20-year Japanese government bond auction drew bids worth 5.84 times the amount sold, beating last month's 4.01 ratio and lifting the currency 0.2% to 158.15 per dollar.
The 20-year JGB yield fell 6 basis points to 3.71%. State Street's Masahiko Loo said sidelined cash is returning and JGBs are emerging as a relative haven from European political and fiscal volatility, particularly France.
The euro rallied 0.2% to $1.1234 as French authorities imposed curfews in several cities Monday to curb anti-government protests. French OAT futures rose 0.2% and German bund futures gained 0.1%.
Sterling rose 0.4% to $1.3351, the Australian dollar added 0.1% to $0.6989 and the kiwi gained 0.4% to $0.5684. The dollar index fell 0.2% to 101.77. The Canadian dollar strengthened 0.2% to $1.40775 after Alberta voted to remain in Canada. The offshore yuan rose 0.1% to 6.678 after the PBOC held rates. Bitcoin slipped 0.3% to $81,674.25; ether fell 0.2% to $2,393.21.

The yen snapped a two-day losing streak against the dollar in Asian trading on Tuesday after a 20-year Japanese government bond auction drew bids worth 5.84 times the amount sold, beating last month's 4.01 ratio and lifting the currency 0.2% to 158.15 per dollar.

The 20-year JGB yield fell 6 basis points to 3.71%. State Street's Masahiko Loo said sidelined cash is returning and JGBs are emerging as a relative haven from European political and fiscal volatility, particularly France.

The euro rallied 0.2% to $1.1234 as French authorities imposed curfews in several cities Monday to curb anti-government protests. French OAT futures rose 0.2% and German bund futures gained 0.1%.

Sterling rose 0.4% to $1.3351, the Australian dollar added 0.1% to $0.6989 and the kiwi gained 0.4% to $0.5684. The dollar index fell 0.2% to 101.77. The Canadian dollar strengthened 0.2% to $1.40775 after Alberta voted to remain in Canada. The offshore yuan rose 0.1% to 6.678 after the PBOC held rates. Bitcoin slipped 0.3% to $81,674.25; ether fell 0.2% to $2,393.21.

ET 02:33
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Earnings

ABB Posts $1.18 Billion Q3 Net Income, Revenue of $9.7 Billion

ABB Ltd. (ABBNY) reported third-quarter net income of $1.18 billion, or 65 cents per share, the Zurich-based industrial automation company said Tuesday. Adjusted earnings from continuing operations came to 68 cents per share.
Revenue for the period totaled $9.7 billion.
ABB shares have risen 21% since the start of the year.

ABB Ltd. (ABBNY) reported third-quarter net income of $1.18 billion, or 65 cents per share, the Zurich-based industrial automation company said Tuesday. Adjusted earnings from continuing operations came to 68 cents per share.

Revenue for the period totaled $9.7 billion.

ABB shares have risen 21% since the start of the year.

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Earnings

Grupo Aeroportuario del Pacifico Posts Q3 Earnings of $168.9 Million, Beats Analyst Estimates

Grupo Aeroportuario del Pacifico SAB de CV (PAC) on Monday reported third-quarter earnings of $168.9 million, or $2.84 per share, topping Wall Street expectations.
The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.72 per share.
The Guadalajara, Mexico-based airport facilities manager posted revenue of $676.2 million in the period.

Grupo Aeroportuario del Pacifico SAB de CV (PAC) on Monday reported third-quarter earnings of $168.9 million, or $2.84 per share, topping Wall Street expectations.

The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.72 per share.

The Guadalajara, Mexico-based airport facilities manager posted revenue of $676.2 million in the period.

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Operational

Tesla, SpaceX Pursue $16.8B TerraFab Chip Project, Court South Korean Suppliers

Tesla and SpaceX are advancing TerraFab, a semiconductor venture with xAI, backed by an initial $16.8 billion investment and targeting one million wafers per month within a decade. The companies met roughly 10 South Korean materials, components and equipment suppliers at SEMICON WEST 2026 in Seoul from October 13 to 15 to build out the supply chain.
Several Korean firms are already in talks or under agreements. HPSP agreed to supply one high-pressure hydrogen annealing tool to the research line, MICO subsidiary KOMICO signed a three-way NDA with Tesla and SpaceX about a month ago to discuss cleaning services for a Texas R&D line, and ISC has moved to exchanged samples and R&D design data. BMT continues valve and fluid component talks, while UniSem signed an NDA on environmental equipment and Dongjin Semichem began supply evaluations two to three months ago.
Most of the Korean companies are existing Tesla and SpaceX partners. Supply chain resources from Intel and GlobalFoundries have also been brought in as their executives and purchasing staff join. TerraFab reportedly aims to secure quotes below Chinese vendors while negotiating with Fujifilm, Lam Research and Applied Materials. SpaceX signed a Texas tax abatement agreement earlier this month, with construction begun on a first-phase 100,000-wafer facility due before 2030.

Tesla and SpaceX are advancing TerraFab, a semiconductor venture with xAI, backed by an initial $16.8 billion investment and targeting one million wafers per month within a decade. The companies met roughly 10 South Korean materials, components and equipment suppliers at SEMICON WEST 2026 in Seoul from October 13 to 15 to build out the supply chain.

Several Korean firms are already in talks or under agreements. HPSP agreed to supply one high-pressure hydrogen annealing tool to the research line, MICO subsidiary KOMICO signed a three-way NDA with Tesla and SpaceX about a month ago to discuss cleaning services for a Texas R&D line, and ISC has moved to exchanged samples and R&D design data. BMT continues valve and fluid component talks, while UniSem signed an NDA on environmental equipment and Dongjin Semichem began supply evaluations two to three months ago.

Most of the Korean companies are existing Tesla and SpaceX partners. Supply chain resources from Intel and GlobalFoundries have also been brought in as their executives and purchasing staff join. TerraFab reportedly aims to secure quotes below Chinese vendors while negotiating with Fujifilm, Lam Research and Applied Materials. SpaceX signed a Texas tax abatement agreement earlier this month, with construction begun on a first-phase 100,000-wafer facility due before 2030.

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Narrative

Norwegian Firm Seeks Canadian Partner for $620 Million Subsea Cable Bypassing U.S.

A Norwegian company building fiber networks and data centers in Europe is seeking a Canadian partner to co-fund a transatlantic subsea cable directly linking Canada and Europe, estimated to cost $620 million and designed to bypass the United States, Bloomberg reported.
The project, named "Leif Erikson," remains in the partner-search stage. The Norwegian operator wants a Canadian partner to hold a majority stake, help raise financing and drive construction; no final decision has been made.
The cable would run more than 2,800 miles (about 4,500 kilometers) from southern Norway across the Atlantic to Happy Valley-Goose Bay in Newfoundland and Labrador. On landing, traffic would travel via underground fiber through Quebec to Montreal, keeping both the subsea link and its Canadian terrestrial segment off U.S. soil.
The proposal comes as deteriorating relations between Washington and Ottawa push Canada to reduce direct reliance on its southern neighbor. If realized, it would add a data route between Canada and Europe that avoids the U.S.

A Norwegian company building fiber networks and data centers in Europe is seeking a Canadian partner to co-fund a transatlantic subsea cable directly linking Canada and Europe, estimated to cost $620 million and designed to bypass the United States, Bloomberg reported.

The project, named "Leif Erikson," remains in the partner-search stage. The Norwegian operator wants a Canadian partner to hold a majority stake, help raise financing and drive construction; no final decision has been made.

The cable would run more than 2,800 miles (about 4,500 kilometers) from southern Norway across the Atlantic to Happy Valley-Goose Bay in Newfoundland and Labrador. On landing, traffic would travel via underground fiber through Quebec to Montreal, keeping both the subsea link and its Canadian terrestrial segment off U.S. soil.

The proposal comes as deteriorating relations between Washington and Ottawa push Canada to reduce direct reliance on its southern neighbor. If realized, it would add a data route between Canada and Europe that avoids the U.S.

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KFC to Swap Pepsi for Coca-Cola at 3,700 US Locations Starting 2027

KFC will replace PepsiCo (PEP) beverages with Coca-Cola (KO) products across roughly 3,700 U.S. locations beginning January 2027, breaking a 40-year partnership, the chains announced last week. The conversion is expected to be completed by spring.
TD Cowen analyst Robert Moskow estimated the deal adds only 0.1% to 0.2% to Coca-Cola's total revenue next year, but its strategic value outweighs the direct financial gain. Coca-Cola beverages are now served at more than 500,000 U.S. food-service outlets. The agreement follows Marriott International's (MAR) earlier switch from Pepsi to Coca-Cola.
Coca-Cola is leveraging data and technology to entrench itself with restaurant operators. Its Freestyle machines generate consumer preference data used to develop exclusive drinks in as little as 90 days, versus a typical 18-month timeline. Its April "And a Coke" campaign partnered with 13 chains including Domino's (DPZ) and Wingstop (WING).
PepsiCo is countering with its AI-driven Menu platform and recently won Subway's U.S. beverage business from Coca-Cola. Jefferies analyst Kaumil Gajrawala warned that rising competition could trigger a food-service price war, raising costs for both companies.

KFC will replace PepsiCo (PEP) beverages with Coca-Cola (KO) products across roughly 3,700 U.S. locations beginning January 2027, breaking a 40-year partnership, the chains announced last week. The conversion is expected to be completed by spring.

TD Cowen analyst Robert Moskow estimated the deal adds only 0.1% to 0.2% to Coca-Cola's total revenue next year, but its strategic value outweighs the direct financial gain. Coca-Cola beverages are now served at more than 500,000 U.S. food-service outlets. The agreement follows Marriott International's (MAR) earlier switch from Pepsi to Coca-Cola.

Coca-Cola is leveraging data and technology to entrench itself with restaurant operators. Its Freestyle machines generate consumer preference data used to develop exclusive drinks in as little as 90 days, versus a typical 18-month timeline. Its April "And a Coke" campaign partnered with 13 chains including Domino's (DPZ) and Wingstop (WING).

PepsiCo is countering with its AI-driven Menu platform and recently won Subway's U.S. beverage business from Coca-Cola. Jefferies analyst Kaumil Gajrawala warned that rising competition could trigger a food-service price war, raising costs for both companies.

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BofA Backs Walmart Ad Push with $126 Target, Sees Billions in Connected TV Revenue

Bank of America reiterated its Buy rating on Walmart (WMT) with a $126 price target, implying about 6% upside from Monday's $118.7 close, citing the retailer's expansion into digital advertising, connected TV and AI-powered shopping.
Analyst Christopher Nardone, after meeting Walmart Connect executive Ryan Mayward, said Walmart's roughly 150 million weekly customers provide advertisers with valuable consumer insights and measurable returns. Third-party sellers typically allocate 10% to 12% of gross merchandise value to advertising, well above the 4% to 6% spent by traditional suppliers, BofA estimated.
Walmart acquired Vizio in December 2024 and Vibe.co in August 2026, extending its ad reach to brands not sold in its stores or online. Nardone said Vibe's self-service platform lets small and midsize businesses target streaming TV ads using Walmart's shopper data, calling it a multibillion-dollar opportunity over time, with Vizio's WatchFree+ service adding inventory. Walmart has also launched its Sparky AI shopping assistant and partnered with Meta's Muse platform, though Nardone cautioned it is too early to assess how AI agents will reshape advertising. The $126 target reflects 40 times estimated fiscal 2028 adjusted EPS, above the prior two-year average of 36 times.

Bank of America reiterated its Buy rating on Walmart (WMT) with a $126 price target, implying about 6% upside from Monday's $118.7 close, citing the retailer's expansion into digital advertising, connected TV and AI-powered shopping.

Analyst Christopher Nardone, after meeting Walmart Connect executive Ryan Mayward, said Walmart's roughly 150 million weekly customers provide advertisers with valuable consumer insights and measurable returns. Third-party sellers typically allocate 10% to 12% of gross merchandise value to advertising, well above the 4% to 6% spent by traditional suppliers, BofA estimated.

Walmart acquired Vizio in December 2024 and Vibe.co in August 2026, extending its ad reach to brands not sold in its stores or online. Nardone said Vibe's self-service platform lets small and midsize businesses target streaming TV ads using Walmart's shopper data, calling it a multibillion-dollar opportunity over time, with Vizio's WatchFree+ service adding inventory. Walmart has also launched its Sparky AI shopping assistant and partnered with Meta's Muse platform, though Nardone cautioned it is too early to assess how AI agents will reshape advertising. The $126 target reflects 40 times estimated fiscal 2028 adjusted EPS, above the prior two-year average of 36 times.