Stocks are popping here ahead of a short week, just as analysts get bullish on Wall Street. Plus, is big money finally coming to the crypto trade? And what does it mean? And Alibaba is taking a page out of Walmart’s playbook in China. We break down Jack Ma’s latest move. And finally, is Silicon Valley a force of good—or more like a wrecking ball? Author Noam Cohen weighs in. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance’s Andy Serwer and Melody Hahm.
Winners and losers
Stocks getting hit today include Live Nation as Evercore downgraded shares to Inline, claiming shares are now adequately valued; Merck, as rival Roche scored a key win with an experimental lung cancer drug, threatening sales of Merck’s Keytruda; and Cardinal Health, with shares slipping as Morgan Stanley cut the health care product-maker’s rating to Underweight, claiming risk to its business if Amazon expands into medical supply distribution.
Stocks getting a boost today include Cavium as Marvell Technology is buying the chip maker for $6 billion; 3D Systems as Piper Jaffray upgraded the 3D-printing name to Underweight with a new price target of $10.00; and GM, with shares driving higher on the back of a Guggenheim upgrade to Buy, in anticipation to GM’s autonomous event on November 30th. Analysts expect GM “to showcase the advanced status” of its autonomous technology.
Is Silicon Valley a force of good or bad?
After years of basically getting a free pass, the power and influence of big tech is coming under increased scrutiny. Noam Cohen covered tech for years for the New York Times and has a new book: The Know-it-alls: The rise of Silicon Valley as political powerhouse and social wrecking ball.