Newsquawk Daily US Equity Opening News - CRWV upgraded at GS; AAPL reports strong foldable demand

DAY AHEAD:

• US INDEX FUTURES: ES +0.5%, NQ +1.3%, YM -0.2%, RTY +0.5%
• DATA: Stateside, the NAHB housing market index is due (prev. 32).
• CENTRAL BANKS: BoC publishes its Q3 Business Outlook Survey and Canadian Survey of Consumer Expectations.
• WEEK AHEAD: Highlights include UK, Japan and Canada inflation, China Activity Data and Global Flash PMIs. Notable earnings
• reports due this week include: META, TSLA, SPCX, LRCX, NFLX.
• US PRE-MARKET MOVERS: SWKS, CRWV, OWL, CLF, INTC. Full summary below

• SWKS +1.4%: Positively mentioned at Starboard & remains undervalued following acquisition of Qorvo
• CRWV +6.3%: Upgraded at GS
• OWL +3%: Investment bankers have approached Cos. founders about a potential full or partial sale
• CLF +14%: Profit beat w/ strong next Q EBITDA outlook
• INTC +4.2%: Upgraded at JPM

• DeepSeek - DeepSeek released V4.1-Flash-1017, an updated AI model offering stronger benchmark performance, faster task completion and shorter outputs compared with its predecessor.
• Anthropic - Anthropic is pitching lawmakers an AI safety bill that would pre-empt some state regulations on risk disclosures, third-party evaluations and incident reporting, according to Politico. The proposal would require frontier AI developers to establish safety frameworks, publish transparency reports, protect whistleblowers and report critical incidents to the Commerce Department. Separately, Anthropic plans to commit 5% of its shares to a new Public Benefit Fund, subject to shareholder approval. Its board may add 2% for each 50% increase in valuation above a baseline. Elsewhere, Anthropic signed a lease with EverWind for data centre capacity in Nova Scotia, marking its first Canadian data centre agreement, Reuters reports.
• Apple (AAPL) - Demand for Apple Inc.’s first foldable iPhone has been “nothing short of extraordinary,” the company said, after shipping estimates slipped to the end of January 2027 within minutes of pre-orders opening on Friday, affecting all colours and storage options. The USD 1,999 device goes on sale 23rd October, Apple’s first major launch under new CEO John Ternus. Bloomberg Intelligence said sales could exceed its earlier FY27 forecast of 14mln units.
• Apple (AAPL) - Apple has hired Meta Platforms (META) veteran Scott Tucker as vice-president of global litigation and financial services, a newly created role, according to Bloomberg. The appointment reunites him with Apple’s new general counsel, Jennifer Newstead, formerly of Meta.
• SoftBank (SFTBY) - SoftBank is reportedly in preliminary talks to acquire Allied Universal from Warburg Pincus and La Caisse in a deal potentially valuing the security firm at up to USD 18bln ex-debt, Bloomberg reports. The acquisition would expand SoftBank’s investments in AI and robotics.
• Samsung Electronics (SSNLF), TSMC (TSM) - Samsung will use TSMC’s 3nm process to produce base dies for Nvidia’s next-generation NVHBM chips, according to Seoul Economic Daily. Nvidia has also requested TSMC processing from SK Hynix (SKHY) and Micron (MU), alongside sixth-generation DRAM for core dies.
• Microsoft (MSFT), Nscale (NSCL) - Microsoft has withdrawn from a UK data centre agreement with Nscale for its Loughton site in Essex amid power constraints, according to the Telegraph. Nscale said it is exploring alternative power sources, and that its other contracts remain unaffected. The setback comes as Nscale seeks to raise up to USD 3bln in an IPO, potentially as soon as this month.
• Skyworks Solutions (SWKS) - Starboard Value positively mentioned Skyworks, and said it remains undervalued following its acquisition of Qorvo (QRVO). The activist investor sees significant upside from complementary chip portfolios and targeted annual cost savings of at least USD 500mln within three years.
• CoreWeave (CRWV) - Upgraded at Goldman Sachs to Buy; says NTM datapoints on contract economics are likely to be more positive than the market.
• Intel (INTC) - Upgraded at JPMorgan to 'Neutral'; believes increasing agentic AI workloads and a very tight supply chain for leading edge silicon should drive continued positive EPS revisions in the upcoming earnings season and through CY27.
• Strategy (MSTR) - Purchases 267 Bitcoin for an average price of USD 82.9k (w/e Oct 18). Moreover, Strategy board approved USD 1bln increase to digital credit securities repurchase.

• Accenture (ACN) - Accenture is exploring a sale of its Chinese operations for up to USD 1.5bln, according to the FT. The consultancy hired JPMorgan to conduct a strategic review following unsolicited interest in the business. Private equity firms and strategic buyers are expected to show interest, while Accenture may retain a significant minority stake.
• Barclays (BCS) - The BoE’s PRA is examining whether Barclays traders misrepresented illiquid private credit loan exposures to reduce capital requirements following an insider complaint, according to the FT.
• Santander (SAN), Nvidia (NVDA) - Santander and Nvidia agreed to a three-year collaboration framework to develop Santander’s AI capabilities using Nvidia’s AI infrastructure.
• EQT AB (EQBBF) - EQT Infrastructure VI agreed to acquire 100% of Cleanaway Waste Management for AUD 3.095/shr in cash. The offer implies an enterprise valuation of approximately AUD 9.3bln, and represents a 32.1% premium to Cleanaway’s closing price on 12th August. The consideration remains subject to potential dividend adjustments.
• Blue Owl (OWL) - Investment bankers have approached Blue Owl Capital’s founders about a potential full or partial sale, with shares down 67% from their January 2025 peak, according to the WSJ.
• KKR (KKR) - Confirmed that it is to sell Infinity Transportation to Ares for USD 2.9bln.
• Fifth Third Bancorp (FITB) Q3 2026 (USD): Adj. EPS 1.13 (exp. 1.09), NII 2.27bln (exp. 2.27bln). Guidance: Q4 NII +2.5-3.5% Q/Q.

• Stellantis (STLA) - Stellantis plans to hire hundreds of additional engineers across Europe and the US in 2026 as it develops new models under its turnaround strategy, according to Bloomberg. CEO Filosa has already pledged approximately EUR 60bln in investment through 2030.
• Mercedes-Benz (MBG), Nvidia (NVDA) - Mercedes-Benz and Nvidia announced an expansion of their strategic partnership to jointly develop next-generation automated driving systems. The collaboration will combine Mercedes-Benz’s vehicle development and safety expertise and MB operating system with Nvidia’s computing and AI technologies. Separately, Mercedes debuted an electric SUV developed entirely from scratch by its AMG brand, the first fully electric SUV built completely in-house by AMG.
• Tesla (TSLA) - Vehicles deliveries reach over 10mln; Model Y on track to be the best-selling vehicle this year of any kind.
• Amazon (AMZN) - Invests in 1 GW nuclear project in Indiana, creating over 1,000 construction jobs and 100 permanent positions.

• Nestle (NSRGY), Unilever (UL) - India’s Food Safety and Standards Authority issued notices to Nestle India and Hindustan Unilever over misleading product claims and regulatory non-compliance. Nestle was cited over its Resource Renal Vanilla Flavour Powder and inconsistent Nescafe Ready-to-Drink packaging descriptions, while Hindustan Unilever faced notices concerning misleading claims on its Horlicks Mother’s Plus Kesar and Chocolate Nutrition Drink products.
• Lindt & Sprungli (CHLSY) - Appointed Vice Chair and former CEO Dieter Weisskopf as interim chief executive following Adalbert Lechner’s departure; it expects to appoint a permanent CEO in Q2 2027.

• Celanese (CE) - Celanese announced immediate global price increases for its liquid crystal polymer products, citing strong demand, higher feedstock and raw material costs, supply chain disruptions and logistics constraints. The increases will take effect immediately, or as customer contracts permit.
• Antofagasta (ANFGY) - Workers at Antofagasta’s Centinela copper mine have voted to accept a new wage offer, ending the strike.
• Cleveland Cliffs (CLF) Q3 2026 (USD): Adj. EPS 0.28 (exp. 0.21), Revenue 5.6bln (exp. 5.7bln). Guidance: Q4 adj. EBITDA 715mln (exp. 698mln), FY27 FCF at USD 2.7bln. Commentary: CEO said Q3 was strongest quarter in three years, with adj. EBITDA of USD 612mln, a number above the USD 575mln guidance provided three months ago. Average selling price, sales volumes, and unit costs all moved in the right direction relative to Q2 performance. Expects Q4 adj. EBITDA to further increase, even with typical fourth-quarter seasonality and planned maintenance outages. Continued to reduce debt in Q3 and, with amplified FCF in Q4 and property sale proceeds. Expects a major debt reduction in the fourth quarter.

• Woodside Energy (WDS) - Woodside Energy paused pre-commissioning work at its USD 12bln Scarborough LNG project in Western Australia after Greenpeace protesters boarded the platform. The project is over 98% complete, with first cargo targeted for Q4. Greenpeace is separately campaigning against Woodside’s Browse project, citing environmental concerns.

• Medtronic (MDT) - Medtronic Chair/CEO Martha Geoffrey sold 50,000 shares at USD 95/shr, for a total USD 4.75mln. EVP and MedSurg and Americas president Marinaro Michael sold 10,420 shares at USD 96/shr for a total USD 1mln. Both transactions were on 15th October.
• AbbVie (ABBV) - AbbVie presented 20 inflammatory bowel disease abstracts at UEG Week in Barcelona. Risankizumab demonstrated sustained clinical and endoscopic outcomes in ulcerative colitis for up to three years, while upadacitinib maintained outcomes in Crohn’s disease for approximately four years. Elsewhere, AbbVie will present new and updated data from its solid tumour portfolio at ESMO Congress in Madrid on 23-27th October.
• Eli Lilly (LLY) - Eli Lilly will present new oncology data at ESMO Congress in Madrid on 23-27th October 2026, the company announced. Highlights include Phase 1 results for sofetabart mipitecan combined with bevacizumab in platinum-sensitive ovarian cancer, alongside updated findings on olomorasib, Retevmo (selpercatinib) and Verzenio (abemaciclib) in lung, thyroid and breast cancers.
• AstraZeneca (AZN) - AstraZeneca will present overall survival data from four pivotal Phase 3 trials at ESMO 2026. CLARITY-Gastric01 will highlight Sone-Ve in CLDN18.2-positive gastric cancer, while SAFFRON will examine Orpathys plus Tagrisso in MET-driven second-line EGFR-mutated lung cancer. VOLGA and DeLLphi-305 will showcase Imfinzi combinations in bladder and small cell lung cancers.
• GSK (GSK) - GSK said risvutatug rezetecan showed positive anti-tumour activity and manageable safety in patients with relapsed extensive-stage small cell lung cancer. The Phase Ib EMBOLD PanTumour-101 trial recorded confirmed response rates of 61% at 8mg/kg and 32% at 6mg/kg. The results support the 8mg/kg dose being evaluated in GSK’s global Phase III EMBOLD SCLC-301 study.
• Alcon (ALC) - Alcon announced FDA approval of Brytly Redness Reliever Eye Drops, which reduce eye redness within one minute and provide effects lasting up to 12 hours. The product is expected to become available at major US retailers and online in the coming months, with additional markets to follow.
• Align Technology (ALGN), Angelalign Technology (AGLFF) - Align announced that the Unified Patent Court ruled Angelalign Technology’s aligner systems incorporating its Torque Ridges feature infringe Align’s European patent covering Power Ridge technology.
• H Lundbeck (HLUYY) - Former Novo Nordisk CEO Lars Fruergaard Jorgensen is set to become chairman of Lundbeck, marking his first major corporate role since leaving Novo in 2025.
• Silence Therapeutics (SLN) - Merck (MRK GY) to buy Silence Therapeutics for USD 20/ADS in cash.

• Ukraine-Russia - Russian President Putin proposed a summit with US President Trump and China President Xi during APEC in Shenzhen (18-19th November) to discuss ending the Ukraine war without Ukrainian participation, according to the WSJ. Trump has not yet agreed, while China reportedly would not object. Trump said he is negotiating peace between Russia and Ukraine, and that significant progress is being made. US Secretary of State Rubio confirmed that Trump remains open to options for ending the Ukraine war, and discussions were held over a potential Trump-Putin-Xi summit.
• US-Russia - President Trump waived Graham Act sanctions and tariffs targeting Russia, including levies of up to 500% on Russian goods and 100% on major energy buyers. The White House cited Ukraine peace negotiations, while the decision follows a deal to import Russian diesel. Existing sanctions remain unaffected, and Ukraine President Zelensky and several US lawmakers criticised the move.
• US-Israel - US President Trump endorsed Israeli PM Netanyahu for re-election, reversing months of public hesitation and tensions between the leaders. The endorsement comes nine days before Israel’s 27th October election, the first since Hamas’s 7th October 2023 attack.
• European Protests - Cost-of-living protests in France escalated into rioting, looting and arson, with violence also reported in Italy. French President Macron pledged a tough response. The supermarket chain Carrefour said 1,500 French retailers were affected, including 20 of its own supermarkets. France faces proposed EUR 43bln deficit cuts, with five unions calling a strike for 5th November.

• China Activity Data - Chinese Q3 data came in firmer than expected; GDP grew 4.5% Y/Y (exp. 4.4%, prev. 4.3%) and 1.2% Q/Q (exp. 1.1%, prev. 0.9%). That takes growth over the first nine months to 4.6%, within the 4.5-5.0% annual target. September industrial production rose 5.5% Y/Y (exp. 5.4%, prev. 5.2%). Q3 industrial capacity utilisation was 73.1% (prev. 73.0%). Retail sales beat at 1.1% (exp. 0.5%, prev. 0.4%). Unemployment unexpectedly eased to 5.2% (exp. 5.3%, prev. 5.3%). Fixed asset investment contracted 7.2% YTD (exp. -7.3%, prev. -7.2%), with property investment down 20.6%. Analysts said the beat may reduce the prospects of further easing.
• China Equities - Chinese state-backed funds appear to be increasing equity purchases after the CSI 300 extended its record losing streak to 10 weeks, according to Bloomberg. Inflows into National Team-favoured ETFs reached their highest since July, although official intervention remains unconfirmed.
• ECB - President Lagarde said rising bond yields are tightening Eurozone financing conditions, slowing growth and reducing the inflationary impact of higher energy prices. ECB’s Nagel said further rate hikes may be needed. ECB’s Rehn said there were no signs yet of second-round inflation effects on wages and prices.
• RBA - RBA Assistant Governor Kent said there is evidence neutral interest rates are rising in Australia and globally, while questioning whether current restrictive policy is sufficiently tight. He noted softening household demand, resilient business credit and a less tight labour market. Kent also described the market reaction to employment data as reasonable, while cautioning against overinterpreting monthly figures.
• Japan - Japanese PM Takaichi rejected claims she is responsible for yen weakness and elevated interest rates. She pledged to strengthen the economy, maintain fiscal sustainability and control bond issuance. Elsewhere, BoJ Governor Ueda said underlying inflation is nearing 2%, and warned bond yields could rise if monetary tightening proceeds too slowly.

• EU-US - The US warned European companies could face “devastating” retaliation if Brussels restricts SpaceX’s (SPCX) Starlink access to satellite spectrum, according to the FT. US ambassador Andrew Puzder criticised EU digital regulations, and urged greater cooperation with Europe on AI.
• China - China’s MOFCOM announced tighter export controls on certain drones, autopilots, engines, radios and related technologies, effective 18th November. The ministry also said it would further optimise procedures for screening and identifying export control queries concerning dual-use items.