FT : Aston Martin will keep paying you to take their cars away

Aston Martin will keep paying you to take their cars away
The 112-year-old marque that burns cash like an AI startup

A profit warning today from Aston Martin-Lagonda is as good an excuse as any to run the numbers on one of the London market’s most ridiculous companies. Here’s a chart:


Based on group free cash flow, each Aston Martin sold wholesale since 2014 has cost the company more than £45,000 on average. Assuming 62,000 Aston Martins delivered between 2014 and the end of the current year, that adds up to a £2.8bn customer subsidy.

The subsidy’s been funded by new equity (nearly £2bn raised since IPO) and debt (more than £400mn of net issuance, meaning year-end net debt will be £1.3bn or nearly eight times Ebitda). It’s been a very expensive vanity project for Lawrence Stroll, whose consortium rescued Aston Martin from probable bankruptcy in 2020.

The shares are down 96 per cent from the IPO (which raised no new money!), but that only tells half the story. There’s been an effective equity-to-debt swap since Stroll took control:


And there’s more to come. JPMorgan, Aston Martin’s joint house broker, forecasts £360mn of cash burn in 2025 and a further £230mn in the first half of 2026.

Seasonality is one of the many peculiar things about Aston Martin, with the company making the bulk of its sales in the second half. That means cash burn should ease by the end of 2026.

Still, to keep the lights on in the meantime, Aston Martin may need to raise another £200mn, JPM says. It expects a cash call on similar terms to the previous two, which were done at a £2.3bn enterprise value.

Another thing lacking, in addition to profit and cash flow, is a break-even target. Today’s profit warning came with a small cut to capex and a pledge to reduce sales and administration costs, but no guidance more specific than 2026 should be better than 2025.

With a very concentrated ownership base and no big debt refinancings due before 2029, a route to profitability may be less of a concern to Aston Martin’s bosses than to independent shareholders.

The Information : Founders Fund Shifts From Caution to Concentrated Bets on AI

Founders Fund Shifts From Caution to Concentrated Bets on AI
Peter Thiel tells investors that scale will determine success in the AI race.

The Takeaway
  • Founders Fund adopts concentrated AI investment strategy, focusing on key players.
  • Peter Thiel emphasizes scale for AI success, justifying large, focused investments.
  • Firm backs OpenAI, Crusoe, and General Matter with significant capital.

Peter Thiel’s Founders Fund is doubling down on its biggest artificial intelligence bets, embracing a concentrated strategy as rivals spread their bets across a wide swath of startups.

Among them are OpenAI, data center builder Crusoe and General Matter, a nuclear fuel startup the firm has incubated, Founders Fund said at its recent annual general meeting for investors. In contrast, other venture firms have poured money across the AI landscape, often backing multiple companies competing in the same markets.

Founders Fund’s decision to invest more in its biggest AI companies is notable because Thiel has warned of a bubble and Founders Fund has recently been relatively cautious about investing in generative AI startups. The firm first put money into OpenAI in early 2023 but didn’t invest as heavily in other model developers and app companies as peers.

Thiel used the 20-year-old firm’s annual general meeting last month to lay out its plan to concentrate its investments in a handful of AI companies. Speaking to the firm’s hundreds of limited partners and Silicon Valley luminaries in a video presentation, Founders Fund partners outlined plans to stand behind a single company operating at each level of the AI business, according to notes prepared by an attendee and people familiar with the meeting.

One of them is OpenAI. The company’s CEO, Sam Altman, took the stage with Thiel to promote their shared view that the winners in AI will be companies that can get to enormous scale the fastest. That strategy justifies Founders Fund’s recent roughly $1 billion investment in OpenAI at a $300 billion valuation when including more than $40 billion in new capital, one of the biggest investments in the firm’s history.

The OpenAI investment fits with the longtime strategy of Founders Fund, led by Thiel and a handful of other partners, to concentrate funds into a small number of its favorite companies, such as defense contractor Anduril. It has profited from big early bets on companies including Airbnb and Palantir and has developed a reputation for going against the grain, making an investment in SpaceX when others were not eager to put money behind rocket launches.

Founders Fund said its $671 million total investment in SpaceX beginning in 2008 has turned into a $20.3 billion position when including its current holdings and the shares it’s sold, a more than 30 times gain for the funds.

Altman and Thiel have a long history. Thiel invested in Altman’s venture fund, Hydrazine Capital, more than a decade ago, and OpenAI listed Thiel as one of its initial donors when it began in 2015.

Speaking at the meeting, Altman said OpenAI would continue to use its billions in capital to fund advanced chips and data centers, while ramping up hiring to generate more business. The company is now valued at $500 billion, based on an employee share sale this week.

Altman said that makes OpenAI the most valuable company per employee in the world, and it could go public in the next couple of years if the conditions are right. An OpenAI spokesperson said he wasn’t at the event, so he couldn’t comment on what Altman said.

Founders Fund’s rivals such as Andreessen Horowitz and Lightspeed Venture Partners have spread their bets widely across several AI model makers and application startups. The divide in how venture capitalists approach AI could determine which investment firms and AI companies emerge stronger from the current funding boom. The dot-com frenzy led to a shakeout in the venture capital industry after many funds had big losses.

Founders Fund made an early foray into AI in 2011 with an investment in DeepMind before the startup’s sale to Google. As other investors have begun piling into AI startups and driving up prices, Founders Fund has applied extra scrutiny to potential AI investments, said one person familiar with the firm’s approach.

Thiel has publicly compared the current state of AI to the dot-com boom. “The rough analogy is that AI in 2024 is like the internet in 1999,” he said on a podcast last year. “On a business level, it’s very, very treacherous.”

Founders Fund’s AI strategy aligns with Thiel’s long-held belief that the best investments are in companies with the potential to create monopolies instead of competing in existing markets. It’s also planning to make a smaller number of investments from its growth-stage funds, which are funding its biggest AI bets.

The firm told investors at the meeting that it plans to back about 10 companies in its most recent $4.6 billion growth-stage fund. That compares to 15 companies in its second growth fund and 31 companies in its first growth fund, both of which were smaller in size.

The first $1.7 billion growth fund raised in 2020 had a 10% net of fees internal rate of return through the first quarter this year, while the second $3.4 billion growth fund raised in 2022 had a 24% IRR through the same cutoff date, said one person familiar with the returns.

Founders Fund said AI coding startup Cognition, one of its biggest bets, is on track to beat its target of generating roughly $200 million in annual recurring revenue by the end of the year from its Devin software tool. The firm recently led a $400 million round of funding valuing Cognition at $10.2 billion, including the new cash, after first investing early last year.

Founders Fund also said at the meeting it plans to invest in a new round of funding for data center builder Crusoe at a $10 billion valuation. The firm invested $240 million in the company last year. Crusoe last month completed the first phase of its Abilene, Texas, data center campus for Oracle, which is supplying OpenAI with cloud computing.

General Matter, a startup building U.S.-based uranium enrichment facilities, is another example of how Founders Fund is concentrating its AI bets. The firm incubated General Matter, co-founded by Founders Fund partner Scott Nolan, and led its first two funding rounds, giving Founders Fund a 27.5% stake, it said at the meeting.

Founders Fund thinks General Matter will become a critical supplier of uranium to companies building small nuclear reactors to power AI data centers. The company is aiming to begin operations at a planned uranium enrichment facility in Paducah, Ky., by the end of the decade.

One area Founders Fund is shying away from is AI chips, which Nvidia dominates. Of the five categories of AI companies the firm laid out at the meeting, chips was the only one where it hasn’t yet made any major bets.

Founders Fund also hasn’t backed any of OpenAI’s major competitors in AI model development, like Anthropic or xAI.

>>> US Research Calls I

Research Calls I
  • Upgrades
    • Accelerant (ARX) upgraded to Buy from Neutral at Goldman, tgt $19.50
    • Affirm (AFRM) upgraded to Buy from Neutral at Rothschild & Co Redburn, tgt $101
    • Axalta Coating (AXTA) upgraded to Buy from Neutral at Citigroup, tgt $34
    • Blackstone Secured Lending Fund (BXSL) upgraded to Outperform from Market Perform at Keefe Bruyette, tgt $30
    • Blue Owl Technology Finance (OTF) upgraded to Overweight at Wells Fargo, tgt $15
    • Brinker (EAT) upgraded to Buy from Neutral at BofA Securities, tgt $192
    • Charles River (CRL) upgraded to Outperform from Market Perform at William Blair
    • Fidus Investment (FDUS) upgraded to Outperform from Market Perform at Keefe Bruyette, tgt $21.50
    • Ford (F) upgraded to Hold from Underperform at Jefferies, tgt $12
    • FS KKR Capital (FSK) upgraded to Equal Weight from Underweight at Wells Fargo, tgt $15
    • Intellia (NTLA) upgraded to Outperform from Market Perform at Citizens JMP, tgt $33
    • Kayne Anderson BDC (KBDC) upgraded to Outperform from Market Perform at Keefe Bruyette, tgt $16.50
    • Lennox (LII) upgraded to Equal Weight from Underweight at Wells Fargo, tgt $575
    • Micron (MU) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $220
    • Mobileye (MBLY) upgraded to Buy from Hold at Deutsche Bank, tgt $19
    • Morgan Stanley Direct Lending (MSDL) upgraded to Overweight at Wells Fargo, tgt $17
    • MSC Income Fund (MSIF) upgraded to Outperform from Market Perform at Keefe Bruyette, tgt $16.50
    • PennantPark Floating Rate (PFLT) upgraded to Outperform from Market Perform at Keefe Bruyette, tgt $10.50
    • TPG (TPG) upgraded to Overweight from Neutral at JPMorgan, tgt $78
  • Downgrades
    • Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at JPMorgan, tgt $103
    • AT&T (T) downgraded to Sector Perform from Outperform at Scotiabank, tgt $30.25
    • Bath & Body Works (BBWI) downgraded to Neutral from Overweight at JPMorgan, tgt $26
    • Boston Beer (SAM) downgraded to Neutral from Buy at Citigroup, tgt $235
    • Check Point (CHKP) downgraded to Sector Perform from Outperform at Scotiabank, tgt $205
    • Elastic (ESTC) downgraded to Sector Perform from Outperform at Scotiabank, tgt $90
    • Emerson (EMR) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $140
    • Lithium Americas (LAC) downgraded to Underperform from Sector Perform at Scotiabank, tgt $5
    • OR Royalties (OR) downgraded to Hold from Buy at Jefferies, tgt $40
    • Papa John's (PZZA) downgraded to Neutral from Buy at BofA Securities, tgt $50
    • Portillo's (PTLO) downgraded to Neutral from Buy at BofA Securities, tgt $7
    • Rambus (RMBS) downgraded to Neutral from Positive at Susquehanna, tgt $100
    • Shake Shack (SHAK) downgraded to Underperform from Neutral at BofA Securities, tgt $86
    • Sociedad Quimica y Minera (SQM) downgraded to Hold from Buy at Jefferies, tgt $50
    • Sweetgreen (SG) downgraded to Neutral from Buy at BofA Securities, tgt $9.50
  • Others
    • AvePoint (AVPT) initiated with a Buy at DBS Bank
    • Cassava Sciences (SAVA) initiated with a Buy at Lucid Capital, tgt $8
    • Charter (CHTR) resumed with a Buy at Citigroup, tgt $325
    • Commerce Bancshares (CBSH) initiated with an Outperform at Hovde Group, tgt $70
    • Figure (FIGR) initiated with a Buy at Goldman, tgt $42
    • Figure (FIGR) initiated with a Buy at Needham, tgt $51
    • Figure (FIGR) initiated with an Outperform at Keefe Bruyette, tgt $48.50
    • Figure (FIGR) initiated with an Outperform at Mizuho, tgt $47
    • Figure (FIGR) initiated with an Outperform at Bernstein, tgt $54
    • Figure (FIGR) initiated with an Overweight at Piper Sandler, tgt $50
    • Figure (FIGR) initiated with a Neutral at BofA Securities, tgt $41
    • Figure (FIGR) initiated with a Neutral at Autonomous, tgt $41
    • Figure (FIGR) initiated with a Hold at Jefferies, tgt $40
    • Invivyd (IVVD) initiated with an Overweight at Cantor Fitzgerald, tgt $10
    • Klarna (KLAR) initiated with a Buy at Goldman, tgt $55
    • Klarna (KLAR) initiated with a Buy at BofA Securities, tgt $51
    • Klarna (KLAR) initiated with a Buy at Deutsche Bank, tgt $48
    • Klarna (KLAR) initiated with a Buy at Citigroup, tgt $58
    • Klarna (KLAR) initiated with a Buy at UBS, tgt $48
    • Klarna (KLAR) initiated with an Outperform at Keefe Bruyette, tgt $52
    • Klarna (KLAR) initiated with an Outperform at Wolfe Research, tgt $50
    • Klarna (KLAR) initiated with an Outperform at Autonomous, tgt $51
    • Klarna (KLAR) initiated with an Overweight at JPMorgan, tgt $50
    • Klarna (KLAR) initiated with an Equal Weight at Morgan Stanley, tgt $43
    • Klarna (KLAR) initiated with a Neutral at Rothschild & Co Redburn, tgt $46
    • Klarna (KLAR) initiated with a Neutral at BNP Paribas Exane, tgt $46
    • Klarna (KLAR) initiated with a Market Perform at Bernstein, tgt $45
    • LB Pharmaceuticals (LBRX) initiated with an Outperform at Leerink, tgt $34
    • LB Pharmaceuticals (LBRX) initiated with an Overweight at Piper Sandler, tgt $78
    • LB Pharmaceuticals (LBRX) initiated with a Buy at Stifel, tgt $27
    • M&T Bank (MTB) assumed with an Overweight at Piper Sandler, tgt $225
    • Ondas (ONDS) initiated with a Buy at H.C. Wainwright, tgt $12
    • Skyward Specialty Insurance (SKWD) initiated with a Buy at Janney
    • TG Therapeutics (TGTX) assumed with a Buy at H.C. Wainwright, tgt $60

WWD : Chanel’s Bruno Pavlovsky on How Matthieu Blazy’s Arrival Is Reshaping the

Chanel’s Bruno Pavlovsky on How Matthieu Blazy’s Arrival Is Reshaping the House
The executive shared how the house is preparing for its new creative "spark" by restructuring its teams and naming new brand ambassadors.

PARIS — Matthieu Blazy’s first show for Chanel is one of the most eagerly awaited events in a year chock-full of designer debuts, fueling the sort of speculation usually associated with the release of a Taylor Swift album.

Observers searched for clues in the red carpet looks worn at the Venice Film Festival. (Chanel on Sunday named Ayo Edebiri, who attended the premiere of “After the Hunt” in a red strapless evening gown, as its new brand ambassador and said she would sit front row.)

Images of old Chanel collections circulated on Instagram, masquerading as an “exclusive preview” of Blazy’s spring 2026 collection.

In the run-up to the show at the Grand Palais on Monday, the brand began drip-feeding teaser images shot by veteran photographer David Bailey — the back of a model’s bobbed hair, and a white shirt with a garment cover — hinting at a minimalist new direction for the brand.

Ten days earlier, Bruno Pavlovsky, president of fashion and president of Chanel SAS, sat down with WWD in his Paris office to talk about the brand’s new chapter under Blazy, who succeeds Virginie Viard, the former right-hand of longtime creative director Karl Lagerfeld.

“The energy here is off the charts,” Pavlovsky beamed.

He addressed why the brand has spent more than a year showing collections designed by a studio team, how Blazy’s arrival is reshaping its organization, and why he hopes the new collection will prove the right kind of creative “spark.”

WWD: This has been an unusually protracted handover period, especially when you consider that some other houses have staged presentations within months of naming a new creative director. Why was that?

Bruno Pavlovsky: I really admire anyone who can join a house and put out a full collection in a matter of days or weeks. We take a longer-term approach. The most important thing was giving Matthieu time to truly settle into the brand. That’s also what sets us apart, so I believe we made the right decision and chose the right pace.

First, we wanted to give him the time he needed to really get to know Chanel. Not that he was unfamiliar with it — he is very cultured and has a deep knowledge of the history of fashion, whether at Chanel or elsewhere, so even before his arrival, I believe he spent a great deal of time on his own doing research and really figuring out what Chanel stands for. On top of that, we have adapted our set-up to make sure we can continue producing our 10 collections a year under the best possible conditions.

We’ve structured the workflow with Matthieu in a way that allows us to manage multiple collections simultaneously, giving him the space to step back and see the broader picture. In many ways, he’s like the conductor — orchestrating everything, ensuring that each element aligns, and that kind of process takes time.

His first haute couture collection is coming in January, and that will also mark the beginning of a new chapter. It will be the first collection with a team that is new to haute couture, which makes it especially interesting.

Then there are collections like Coco Beach and Coco Neige — more tactical in nature, but also offering space for distinct forms of expression.

Coco Beach is ready, and you will see a new narrative both in terms of product and imagery. This is Matthieu’s take on the Coco Beach concept, and it’s really fascinating. Of course, some people will love it, others may feel it leans too far in one direction or another. But for me, that’s not the point. What matters is that it’s a fresh start.

WWD: Your fall campaign also marks a departure, with full-page photos of shoes and bags featured as “hero” products.

B.P.: With this campaign, the intention was to put the focus back on the product and that’s something we intend to continue doing.

WWD: Did he have any input in this campaign?

B.P.: Of course, he was already here, and from the moment he arrived, we’ve run everything past him. But this campaign doesn’t represent his influence directly. Officially and practically, Matthieu’s imprint begins with the collection on Oct. 6.

WWD: His arrival comes against the backdrop of a generational handover on the management side, with the arrival in 2022 of Leena Nair as global chief executive officer of the brand. Why did you think the time was right for a new creative direction?

B.P.: For me, there are two interconnected but distinct aspects at play. First: the generational change in Chanel’s leadership, which was not only planned, but absolutely essential. It was necessary for us to lay the foundations for the next 20 years, and I believe we’re off to a strong start on that front.

Virginie did an extraordinary job handling the transition after Karl’s passing. She helped the brand evolve by bringing a greater sense of ease to the collections. It worked really well, but we also knew that, at some point, we would need to introduce a new creative eye to begin a new cycle and regain momentum.

I’m not sure that, in 15 years’ time, there will be many creative directors with the longevity of someone like Giorgio Armani, Ralph Lauren or Karl Lagerfeld. They are truly exceptional. Will this new generation of designers have the same staying power? One can only hope so, but inevitably, the questions of succession and creative renewal arise, and it just so happens that it’s happening everywhere all at once.

For us, this wasn’t the product of some strategic directive. Rather, it was about meeting the moment and it became clear at a certain point that a shift was needed. We’re genuinely thrilled to have Matthieu onboard. I have complete confidence in his vision and ability to take the house to the next level.

WWD: For almost four decades, the final fittings before the show were a sacred ritual, when Chanel welcomed chosen editors to preview the collection. For the first time this season, it won’t take place. How are the teams adapting to this new way of working?

B.P.: We no longer have those final fittings because everything is ready much earlier.

Karl had established a certain way of working — he taught us to pull it all together in just two afternoons. With Matthieu, it’s happening over eight days.

For the teams, I think it’s been a welcome change. In the past, there was often a bottleneck of information while we waited for those final two days and then everything had to come together very quickly. But now, with things being decided earlier and unfolding more gradually, the teams have had time to adapt.

We’re still fine-tuning things. Matthieu, his new team and our existing teams are working it out together. Some days, it all runs very smoothly, others, less so, but that’s entirely natural. I believe that in six months to a year, with two or three collections under our belt, we will have completely switched to this new way of working.

At the end of the day, what we care about is that Matthieu has everything he needs to deliver a collection and a show that truly reflect his vision. And there’s a dedicated team around him, working to ensure just that.

WWD: Has there been a lot of turnover in the design studio?

B.P.: There hasn’t been a huge amount of turnover, but we have significantly reinforced the teams.

We have assigned certain people to specific collections, while others work across all of them. This shift has required us to hire more people.

We’ve had to expand and adapt our development and technical teams too. They are now collaborating with the studio much earlier in the process, and that’s a win-win situation. In many cases, we’ve promoted people from within. Right now, we’re in a phase of ongoing discovery, learning and adaptation.

Witnessing this transformation has been absolutely fascinating from my perspective. And I want to be clear: this is not a critique of what came before. At that time, we were doing exactly what was needed. But this new approach will likely improve the speed of development, collaboration with suppliers and overall production timelines, because we’re starting earlier. Ultimately, I hope this leads to more reliable deliveries of certain collections in our boutiques.

WWD: Some houses undergoing a creative transition are also using that moment to introduce new muses and brand ambassadors. Are you?

B.P.: Yes, you will definitely see some new faces at this show, but you’ll also see ambassadors who have been with us for a long time.

Of course, Matthieu brings his own set of creative affinities, which are new and incredibly enriching, but not at the expense of existing relationships. On the contrary, it’s about adding depth and diversity to the panel of women who represent the brand. What matters to us is representing a broad spectrum of identities: different women, different cultures, different nationalities. It’s entirely legitimate that Matthieu should gravitate to a new set of people. He’s also very comfortable, I think, with our existing ambassadors. They’ve gotten to know each other and there’s a lot of goodwill.

That’s precisely why it was important to allow for a longer transition period: to preserve the identity of the house, even as we open up new horizons. We absolutely want Matthieu to put his stamp on the brand — to bring his energy, inspiration and personal vision. Naturally, that means change.

I hope the collection surprises people.

WWD: Even if that involves taking a risk?

B.P.: It might be a risk on paper, but we need this new energy and everything I’ve seen so far is pointing in the right direction. There hasn’t been a single moment where I’ve thought, “This isn’t right.” I find it deeply exciting to welcome new perspectives and interpretations. This is the first of many collections to come, so it will be a progressive evolution, but you need that initial spark.

>>> Europe : Brokers Upgrades & Downgrades - 6th of October 2025 V3(++)

>>> Up
* Epiroc Raised to Buy at Pareto Securities; PT 230 kronor
* Ford Raised to Hold at Jefferies; PT $12
* Galderma Raised to Buy at Bank Vontobel; PT 155 Swiss francs (+)
* Glencore PT raised from 350 to 425p at Jefferies
* Grab Holdings Raised to Add at CGS Int'l; PT $7
* Micron Raised to Overweight at Morgan Stanley; PT $220
* Mobileye Raised to Buy at Deutsche Bank; PT $19 (++)
* Nestle PT raised from 71 to 72 CHF, still Underweight, at Morgan Stanley
* Shield Therapeutics Raised to Buy at Stifel; PT 10 pence (+)
* Sonova Raised to Neutral at Rothschild & Co Redburn
* Stellantis Raised to Neutral at Mediobanca SpA; PT $11.37
* Orion Raised to Buy at Nordea; PT 75 euros
* UCB PT Raised to 285 euros from 250 euros at Deutsche Bank (+)

>>> Down
* Ashmore Cut to Underweight at Barclays; PT 150 pence
* Diagnostyka Cut to Hold at Wood & Company; PT 203 zloty
* Metso Cut to Hold at Handelsbanken; PT 12.50 euros (++)
* Papa John's Cut to Neutral at BofA (++)
* QinetiQ Cut to Hold at Kepler Cheuvreux; PT 530 pence (++)
* Sandvik Cut to Hold at Pareto Securities; PT 270 kronor
* SEB SA Cut to Neutral at CIC; PT 60 Kronor (++)
* Wartsila Cut to Hold at Nordea

>>> Initiation
* DBA Group Rated New Buy at Equita; PT 5.70 euros (+)
* Enagas Rated New Neutral at Citi; PT 12.80 euros
* FM Mattsson AB Rated New Buy at SB1 Markets; PT 65 kronor
* Securitas Rated New Buy at SB1 Markets; PT 165 kronor
* Sentia Rated New Buy at Pareto Securities; PT 80 kroner

>>> Call
* Momentum Chasing Grows, Positioning Not Stretched: Deutsche Bank (+)

>>> US Gapping down

Gapping down
Other news:
  • SKYE -62.2% (reports Topline CBeyond phase 2a data from nimacimab monotherapy and combination clinical trial)
  • DFLI -21.7% (prices offering of 20,000,000 shares of common stock at $1.25 per share for gross proceeds of approximately $25.0 mln)
  • QUBT -12.1% (prices offering of 37,183,937 shares of common stock for gross proceeds of $750 million)
  • FITB -3.8% (Comerica to be acquired by Fifth Third Bancorp (FITB) in all-stock transaction)
  • SYRE -1.8% (announces poster presentations at United European Gastroenterology Week (UEGW) 2025)
  • TIC -1.1% (announces $250 million private placement)
  • ORKA -0.8% (files for 39,425,806 share common stock offering by selling shareholders; files for $500 mln mixed securities shelf offering; also $200 mln common stock sales agreement with TD Securities as sales agent)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance
:
  • DVLT +9% (guidance)
Other news:
  • AMD +23.7% (Co and OpenAI announce a 6-gigawatt agreement to power OpenAI's next-gen AI infrastructure across multiple generations of AMD Instinct GPUs)
  • IVVD +14.7% (FDA has cleared the company's Investigational New Drug application and provided feedback to advance the company's REVOLUTION clinical program)
  • ABVX +12.8% (announces late-breaking presentation of 8-Week ABTECT induction trial results in participants with and without prior inadequate response to advanced therapies)
  • CMA +12.6% (Comerica to be acquired by Fifth Third Bancorp (FITB) in all-stock transaction)
  • DGNX +9.9% (completes acquisition of Matter DK ApS, strengthening Diginex's AI-driven ESG data and analytics leadership)
  • FLY +9.8% (acquires SciTec to advance national security capabilities)
  • GLXY +8.8% (announces launch of GalaxyOne)
  • ARVN +5.1% (presents late breaking, Phase 1 Clinical Data for ARV-102)
  • NIU +4.6% (reports Q3 sales volumes of 465,873 units)
  • IMDX +4.2% (reports kidney transplant patient achieved ‘immune reset' with novel therapy and graftassure monitoring)
  • KLTR +3.3% (CFO to step down; reaffirms guidance)
  • LPA +3.2% (files for 5,041,598 ordinary share offering by selling shareholders)
  • SKYT +3.1% (files for $350 mln mixed securities shelf offering)
  • NAMM +3.1% (files for 1,750,000 ordinary share offering by selling shareholders)
  • BETR +3% (CFO Keven Ryan to retire)
  • UUUU +3% (closes upsized offering of 0.75% Convertible Senior Notes due 2031)
  • CRTO +2.8% (Criteo & DoorDash (DASH) sign multi-year partnership to expand retail media access)
  • SKE +2.6% (files prospectus supplement and entered into offering of 5.21 mln common shares at C$24.00 per common share)
  • PLTR +2.4% (OneMedNet selects Palantir to advance healthcare AI and data analytics)
  • TSLA +2.1% (teases event tomorrow in video on social media)
  • SATS +2% (DISH Research confirms addressable TV unlocks growth in a fragmented market)
  • CDNA +2% (announces new IVD products and IVDR certification for AlloSeq Tx and QTYPE at the 2025 American Society of Histocompatibility & Immunogenetics Annual Meeting)
  • ACDC +1.9% (files for 3,171,970 share common stock offering by selling shareholders, relates to convertible preferred stock)
  • FFAI +1.9% (Founder and Co-CEO YT Jia shares weekly investor update: FX Finalizes U.S. production assembly plan)
  • FCX +1.3% (issues update on PT Freeport Indonesia operations)