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Tech Stock Rebound Boosts Major Averages

The major averages were broadly higher near noon as a rebound in tech stocks helps Wall Street bounce back. The major indexes are still on track for weekly gains, despite two consecutive sessions of losses for the S&P 500 and Nasdaq. The 10-year Treasury yield is holding around 5.27%, below Wednesday's 24-year high of 5.36%. Meanwhile, President Donald Trump said that the U.S. will not resume military strikes against Iran before the November midterm elections, citing productive discussions with Tehran, helping to calm the oil market.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXwill acquire a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band as part of efforts to help Starlink Mobile become a "major mobile carrier" in the U.S.Humanashares jumped while Alignment Healthcareslipped after the Centers for Medicare & Medicaid Services published its 2027 Medicare Part C and Part D Star RatingsDeltareported mixed Q3 results and cut its FY26 earnings outlookApplehas asked some of its suppliers to cut production of components for its iPhone 18 Pro and iPhone 18 Pro Max, Nikkei Asia reportsLumentumCEO Michael Hurlston said the company has "completely sold out" in its optoelectronics parts through nearly 2029, Bloomberg reports2. WALL STREET CALLS:Scotiabank upgraded Webullto Outperform on valuationPershing Squaredowngraded to Sell at Citi after share rallyMonness upgraded Elasticto Buy on agentic AI trendsAlignment Healthcaredowngraded to Neutral at BofAOppenheimer upgraded Fastlyto Outperform on solid industry checks, agentic AI opportunity3. AROUND THE WEB:Southwestis leaning toward Boeing's787 Dreamliner as its first widebody aircraft to support potential long-haul international expansion, though no final decision has been made and approval rests with the board, Reuters reportsChina-made Teslavehicles were up 5% from a year ago in September, an increase from a 3.6% gain in August, Reuters saysNvidiaconsidered a last-minute OpenRouter bid, telling its leadership it was prepared to make a generous offer, but OpenRouter didn't want to wait, The Information reportsSources detail MetaCEO Mark Zuckerberg's decision to launch Muse despite safety concerns, including an unauthorized password change, after seeing that AI startup Instinct's similar agent product gained traction, NY Times saysCarlyleis no longer actively pursuing a deal to acquire international assets of Lukoil, Reuters reports4. MOVERS:Quantum-Sigains after announcing it demonstrated detection of 19 amino acids in its Proteus development programGinkgo Bioworksrises after announcing it will provide autonomous lab access to NSF X-Labs researchersTevahigher in New York after announcing the FDA approved WeltruzaBrookdale Senior Livinglower after announcing occupancy for SeptemberJoby Aviationfalls after Barclays downgraded the stock to Underweight5. EARNINGS/GUIDANCE:Braema Hotels & Resortsprovided guidance for FY27Park Aerospacereported Q2 results, with EPS and revenue higher year-over-yearOil-Dri Corporation of Americareported Q4 results, with Daniel Jaffee commenting the company reported its "strongest full year sales" in its historyJPMorganto report Q3 results on October 13Johnson & Johnsonto report Q3 results on October 13INDEXES:Near midday, the Dow was up 289.63, or 0.57%, to 51,521.27, the Nasdaq was up 151.83, or 0.56%, to 27,345.17, and the S&P 500 was up 36.74, or 0.47%, to 7,802.10.

SpaceX Acquires Low-Band Spectrum License, Telecom Stocks Plummet

Shares of major telecom names are down sharply afterhours following the announcement by SpaceX (SPCX) that the company has reached an agreement to acquire a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band. AT&T (T) is down 7.5%, T-Mobile (TMUS) is down 7.2%, Verizon (VZ) is down 6.8%, and Comcast (CMCSA) is down 2.0%. SpaceX CEO Musk has also stated on X following the announcement: "This is the last critical piece of the spectrum puzzle needed for SpaceX to provide complete phone coverage in America." Shares of SpaceX are up 0.9% afterhours.

Disney in Talks with Studios for Infinity Vision Brand

Disney (DIS) has held talks with other studios about using its new Infinity Vision brand for large-screen movie formats, potentially creating a competitor to Imax (IMAX), Thomas Buckley of Bloomberg reports, citing people familiar with the matter. Disney has met with Skydance's (SKYD) Paramount Pictures, Comcast's (CMCSA) Universal Pictures, Lionsgate Studios (LION) and Sony Pictures (SONY) to discuss Infinity Vision - a certification that combines hundreds of existing theater chains' large-screen formats like AMC Entertainment's (AMC) XL and Cinemark's (CNK) XD, under one brand, sources told Bloomberg. The studios have shown early interest in Disney's initiative, but some are waiting to review the impact of Infinity Vision's marketing on Disney's "Avengers: Doomsday," which opens on December 18, the sources added. Shares of Imax are down 2% to $50.50 following the report.