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- The stock market has already crashed: Why a Wall Street veteran says Nike is the ultimate turnaround trade.
- Just 26% of Wall Street Analysts Rate Nike a Buy. Is It Time to Be Greedy While Others are Fearful?
Nike's stock has fallen more than 50% since Elliott Hill replaced John Donahoe as CEO in late 2024, and only 11 of 43 analysts rate it a buy. Sales fell 4% year over year last quarter, and Greater China sales dropped 26% in the first quarter, while rivals On and Decker Outdoor's Hoka reported strong momentum in China. Nike's new Pace plan targets $2.5 billion in cost savings, but most will not arrive for two or three years. Gross margin rose 60 basis points to 42.8% but remains below 45.4% a couple of years ago while competitors' margins improved, so the article suggests waiting to see whether Pace restores growth rather than buying now.
- Nike's India campus is a long-term growth bet amid turnaround
Nike announced it will build a new global campus in Bengaluru, India, which CEO Elliott Hill called a 'long-term investment' expected to open within the next few years and to house corporate roles across Nike, Jordan Brand and Converse. The move comes as Nike works to turn its business around, with revenue in Greater China falling 26% in the fiscal first quarter even though North America revenue slightly beat expectations. A Nike spokesperson said the company remains 'deeply committed' to China, which it sees as one of its most important long-term growth markets. Experts say investing in India requires persuading consumers to adopt the brand, a challenge Nike has also struggled with in China. Nike also plans to cut jobs and target about $2.5 billion in savings through fiscal 2031 under its Pace strategy, and it will discuss the India campus in detail at its investor day next month.
- S & P 500 logs biggest weekly loss since June as oil at $110 , AI trade fears rattle Wall Street
- Michael Burry Warns Wall Street's 'Pain Trade' Can Last As Mag 7 Weakness Could Deepen 'Red October' Call
Michael Burry warns that the market's 'pain trade' could last, as falling bond yields are failing to lift tech stocks. He says that if the Magnificent Seven fall alongside semiconductor shares as yields drop, his 'Red October' call would gain conviction. On Wednesday, SPY fell 1.1% to $769.60, QQQ dropped 2% to $728.95, and DIA slipped 0.1% to $515.63. Burry also noted that 55% of S&P 500 constituents were at least 20% below their highs, and said he believes the market is within 0-9 months of a significant top.
- FBM KLCI eases in early trade , tracks Wall Street losses
At 9.15am, the FBM KLCI had eased 8.42 points, or 0.52%, to 1,599.34 from Friday's close of 1,607.76. Decliners outnumbered advancers 423 to 103. Apex Securities expects the index to stay cautious in the near term, citing persistent foreign selling, global uncertainty, the recent sell-off in US tech and AI stocks, elevated oil prices and inflation, ahead of the US Federal Reserve's October 29 policy decision. Domestically, investors will watch Malaysia's third-quarter 2026 GDP growth of 5.3% and rising operating costs, especially for labour-intensive businesses.
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- Amazon stock pops after Morgan Stanley details 5 catalysts, lifts price target
Morgan Stanley named Amazon a top pick and raised its price target to $350 from $335, implying about 40% upside from Friday's $250 close. The bear and bull cases are $220 and $410, a 3:1 risk-reward ratio. Analyst Brian Nowak outlined five catalysts: faster AWS revenue growth (47% in 2027 and 42% in 2028), AWS operating margins of 42% and 44%, more visibility into Bedrock, gains from AI shopping, and robotics that could save $2 billion to $4 billion a year for every 10% of units moving through automated fulfillment centers. The firm raised its capex forecast to $355 billion for 2027 and $365 billion for 2028. The stock is up about 11% this year but sits roughly 10% below its early August high.
- Should You Buy Meta (META) Ahead of Earnings?
Meta Platforms (NASDAQ:META) reports Q3 results on Oct 21, and the stock is among the top 10 holdings in Trump's latest portfolio, where its biggest trade in the Oct 8 filing was a purchase of $5 million to $25 million on Aug 21. Bulls say AI is boosting Meta's ad business: in Q2, ad impressions rose 14%, the average price per ad rose 12% and revenue grew 28%. Bears point to rising capital spending, nearly vanished free cash flow and a Q2 earnings miss of about 14% from legal and severance charges, while Muse brings in little revenue so far. The number of hedge funds holding Meta fell from 262 to 254 in Q2, and the stock fell after each of its last two earnings reports. The article notes analysts expect Q3 revenue growth of about 24% with EPS below last year, and suggests either buying a small starter position before the report or waiting for it.
- Berkshire Hathaway CEO Greg Abel Just Took a Page Out of Warren Buffett's Playbook, Plowing $930 Million Into a 'Wonderful Company at a Fair Price'
CEO Greg Abel has put $930 million into Bending Spoons, a company that acquires, optimizes and reinvests in digital businesses, including $600 million in its July IPO and a further $330 million later, lifting Berkshire's stake to about 4%. Bending Spoons has acquired 50 businesses since 2013, including AOL, Eventbrite and Vimeo. In the second quarter, revenue rose 126% to over $704 million, diluted EPS grew 163% to $0.28, and adjusted operating margin reached 54%. The IPO price was $29 per share and the $330 million purchase was at $33, while the stock now trades near $54.50, a market cap of nearly $35 billion and about 39 times forward earnings. The article argues this reflects Buffett's principle of buying a wonderful company at a fair price, though the stock is no longer a bargain.
- Intel stock pops after JPMorgan gives a Neutral upgrade
JPMorgan (JPM) upgraded Intel (INTC) to Neutral from Underweight. The note points to improving execution under CEO Lip-Bu Tan, potential foundry customers for next-generation manufacturing, and rising earnings estimates for 2027 and 2028.
- BC-Gold Futures
AP's gold futures table (100 troy oz, USD per troy oz) as of 10:00 AM on Monday, October 19 shows the December 2026 contract trading at $4,169.50, down $11.60, with volume of 79,099 contracts versus 135,074 on Friday. The October 2026 contract rose $14.00 to $4,173.50, and open interest totaled 398,149 contracts, up 2,143.
- Intel leads chip stocks higher as investors jump back into AI trade
Chip stocks rebounded on Monday as investors bought the dip after last week's steep AI trade sell-off. The PHLX Semiconductor Index (^SOX) rose 2%, reversing a recent semiconductor rout. Intel (INTC) jumped 5% after JPMorgan upgraded the stock to Buy, citing "solid execution." Nvidia (NVDA) and AMD (AMD) also gained, while a Goldman Sachs upgrade of CoreWeave (CRWV) to Buy from Neutral helped lift AI sentiment. Arm Holdings (ARM), Micron Technology (MU) and SK Hynix (SKHY) also rebounded after sharp declines last week.
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