📊 Tech melted down again to open November. The Nasdaq fell 1.07% to 25,164.32 and the S&P 500 shed 0.51%, both giving up solid morning gains. The Dow rose 0.41% on old economy names and Canada’s S&P/TSX Composite added 0.51%. 🔗 Marvell Technology ($MRVL) dropped 12.72% to $171.41 after agreeing to buy Lumentum ($LITE) for $115 billion. Lumentum fell 18% despite the deal, which gives its holders 4.5 Marvell shares each and about 33% of the combined company. 🗄️ Oracle ($ORCL) slid 8% after filing to sell $10 billion in common stock and $10 billion in senior notes to fund its AI buildout. Stephens upgraded the stock to overweight the same day with a $213 target. 🐕 IDEXX Laboratories ($IDXX) climbed 20% after beating on both lines, with revenue of $1.21 billion up 10% year over year on Companion Animal Group growth. The vet diagnostics company raised its 2026 revenue and earnings forecasts. 🍁 Canadian energy names sank with crude. Suncor ($SU) fell 5.05% and Canadian Natural ($CNQ) dropped 4.21%, though a gold rebound lifted materials enough to keep the index green. Canadian manufacturing contracted for the first time in 2026 as tariffs hit demand. 🛢️ Brent tumbled 7.63% to close at $104.77 and WTI fell 7.36% to $96.46 on hopes of renewed U.S.-Iran talks. Marco Rubio said Trump hasn’t decided on an attack and Washington would prefer a peaceful resolution, while Iran’s foreign minister said a deal is possible with goodwill. 👨🏻💻 Researched and written daily by @timemino
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2 Comments
Mike L
@noviceadvisor · 18h
Atleast gold was up today........
B @bmoney69 · 2h
1% drop is hardly a meltdown.
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