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Bank of America has downgraded Wix.com (WIX) to Underperform from Buy, cutting its price target to $68 from $75. The downgrade cites:

• AI Competition: Rising threat from AI coding tools like Lovable and Cursor impacting Wix's core website-building business, especially among agency partners.
• Slowing Core Growth: While Base44 platform shows strong growth, BofA estimates core Wix ARR growth could be as low as 3-4%.
• Profitability Concerns: Increased marketing spending is expected to limit profitability, with Q3 adjusted operating income missing estimates.

BofA also lowered 2027 revenue and EBITDA forecasts, anticipating sustained competitive pressures and slower core business expansion [1].

European equities advanced today, with the STOXX 600 up 0.3%, driven by a sustained fall in global crude oil prices. This occurred despite a hotter-than-expected U.S. CPI report, which showed headline inflation at 0.4% MoM (vs. 0.3% expected) and core CPI at 0.3% MoM (vs. 0.2% expected) [1].

Key takeaways:

• Oil Relief: Brent crude fell 3% to below $90/barrel, its lowest since early September, providing a 'deflationary wave' [1].
• Hawkish Fed Bets: U.S. CPI data cemented expectations for a December Fed rate hike, with traders now pricing an 84% probability (up from 74% a week prior) [1].
• Divergent Reaction: European markets largely looked past the hawkish U.S. macro signals, prioritizing energy price relief [1].

OpenAI's enterprise revenue has surpassed consumer revenue, with its LLMs now reportedly rerouting 20% of all Google Search queries. This shift confirms fears of slowing Google search revenue and highlights the growing competitive pressure from AI chatbots. OpenAI has also added 200 million weekly active users in the last two months [1].

InvestingPro's ProPicks AI model maintains GlobalFoundries (GFS) in its 'Tech Titans' strategy, signaling confidence in the specialty foundry. GFS, a key player in essential silicon for automotive, aerospace, and data centers, recently slipped 7.8% during a broader semiconductor pullback. The company benefits from long-term supply agreements and its strategic position in diversifying the global chip supply chain away from advanced node concentration [1].

Federal Reserve Governor Christopher Waller indicated a December rate hike is likely, even if October inflation data is softer. He suggested a 50 basis point increase should be considered if inflation readings come in higher than forecast, emphasizing the need to follow through on market expectations to maintain Fed credibility. Waller stated that delaying promised hikes could lead to an undesirable loosening of monetary policy [1].

Rocket Lab (RKLB) announced Q3 2026 results, posting record revenue of $268M, beating estimates by $10.83M, and a record $3.6B backlog [1] [2]. However, the company missed EPS estimates, reporting a loss of $0.12 per share against an expected loss of $0.07 [1] [2]. Shares initially surged 10.91% before retreating 7.1% in after-hours trading, reflecting mixed investor reaction to strong top-line growth versus higher costs and a wider quarterly loss [1].

Key points:

• Revenue: $268M, up 73% YoY, driven by Space Systems ($214.8M) and Launch Services ($53.1M) [1].
• Gross Margins: Above guidance at 33.6% GAAP and 38.4% non-GAAP [1].
• Q4 2026 Outlook: Revenue guidance of $270M-$290M, above consensus [2].

Boeing Commercial Airplanes plans to cut 5% of its workforce as it struggles to increase jetliner production. The division cited the need to 'reset the pace of our production rate ramps' due to factory and supply chain instability [1].

Key impacts:

• Workforce Reduction: 5% cut through attrition and layoffs, notices starting December [1].
• Production Delays: 737 production target of 47 jets/month now expected early 2027, delayed from summer 2026 [1].
• Financial Outlook: Free cash flow target of $10 billion pushed to 2029, a year later than analysts expected [1].

This signals ongoing operational challenges for the aerospace giant.

Nvidia (NVDA) shares fell 5% today, extending recent losses, as the company confirmed an internal investigation into CEO Jensen Huang. The probe follows media reports alleging Huang's ties to a Chinese businesswoman who may have passed information to Beijing [1]. Huang reportedly addressed employees, admitting infidelity but not detailing the relationship [1].

The investigation raises questions about the future of the 63-year-old CEO, who holds a 3.6% stake and maintains a tight grip on the world's most valuable chipmaker. The board has expressed confidence in Huang, but succession uncertainty remains [1]. The news also led to the cancellation of his daughter's planned visit to Seoul for an Nvidia conference [1].

Taiwan's Financial Supervisory Commission enacted emergency short-selling curbs, slashing the cap on intraday short-sell orders from 30% to 3% and raising margin requirements to 130% [1]. This regulatory action, a direct response to a semiconductor selloff, propelled Taiwan Semiconductor Manufacturing Co Ltd (TSMC) BDR up 6.6% [1].

Adding to TSMC's momentum are reports of its potential entry into the advanced memory chip market at Nvidia's request, and a NT$500 billion stabilization fund confirmation from Taiwan's Finance Ministry [1].

Meanwhile, Nvidia shares fell 4.5% premarket due to an internal investigation into CEO Jensen Huang's future, raising concerns about leadership uncertainty and the broader AI boom's sustainability [2]. This dynamic led to rotation into TSMC, seen as insulated from Nvidia's reputational risk [1].

Bernstein highlights High-Bandwidth Flash (HBF) as a potential game-changer for AI infrastructure, addressing memory capacity and bandwidth constraints [1].

Key takeaways:

• HBF combines HBM-like read bandwidth with 8-16x greater capacity at lower cost per gigabyte, making AI inference more efficient [1].
• Could reduce GPU memory needs and allow larger AI models with fewer GPUs, cutting computing and power costs [1].
• Significant opportunity for NAND manufacturers: HBF could consume ~6.5x more NAND wafer capacity per bit than conventional TLC NAND due to higher-performance SLC flash and advanced packaging [1].

This signals a new demand vector for the NAND sector amid expanding AI workloads.