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- Netflix downgraded, Tesla upgraded: Wall Street's top analyst calls
The Fly’s roundup of the day’s market-moving research calls lists the top five upgrades and top five downgrades. Upgrades include CLSA lifting Tesla to Hold from Underperform with a $400 target, up from $310, citing sentiment around a potential SpaceX merger; BMO Capital moving Block to Outperform with a $100 target; and JPMorgan upgrading CME Group to Overweight with a $367 target. Downgrades include Wolfe Research cutting Netflix to Peer Perform, RBC Capital cutting Dutch Bros to Sector Perform with a $46 target, down from $70, and JPMorgan cutting Qiagen to Neutral, citing EQT’s $52.23-per-share cash takeover offer.
- October 22nd Morning Report - sharechat . co . nz
US stocks closed higher on Wednesday after quarterly results from SpaceX and Super Micro Computer boosted appetite for AI-related shares, while Netflix slipped after its forecast disappointed investors. The Dow Jones rose 0.65%, the S&P 500 gained 0.62% and the Nasdaq Composite added 1.09%. European indices also closed higher, with the FTSE100 up 0.19%, the DAX up 1.35%, the CAC 40 up 1.06% and the STOXX up 1.40%. In Asia, the Nikkei 225 rose 0.85%, while the HSI fell 0.90% and the Shanghai Composite fell 1.59%. The US 10-year yield stood at 5.123%, oil rose 0.44% to $97.58 per barrel, and gold was at US$4150.15 per ounce.
- Wall Street drifts as SpaceX climbs and Netflix falls
U.S. stocks edged higher on Wednesday, with the S&P 500 up 0.4%, the Dow up 127 points (0.2%) and the Nasdaq up 1% as of 11:30 a.m. Eastern time, as strong profit reports from SpaceX, Capital One and others offset disappointing updates from Netflix and AT&T. SpaceX jumped 9.9% after reporting a stronger-than-expected summer profit and said it had taken a step to consider a possible merger with Tesla, whose shares rose 3.5% ahead of its quarterly results. Netflix fell 4.9% and AT&T dropped 6.3% despite beating profit estimates, as Netflix's revenue forecast and AT&T's earnings outlook fell short of some analysts' expectations. AI stocks were mixed: CoreWeave swung widely, while Nvidia gained 1.7% and Super Micro Computer rallied 8.8% after forecasting stronger summer revenue; the 10-year Treasury yield eased to 5.10% from 5.12%, and Brent crude rose 0.3% to $109.12 a barrel.
- Wall Street drifts as SpaceX climbs and Netflix falls
- Netflix Addresses Engagement Concerns Head-On. The Stock Is Still Down.
- Tesla, SpaceX, CoreWeave, Netflix, and More Stocks That Explain Today’s Market
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- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
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