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EU Sets 350,000 Annual Import Limit on Chinese Hybrid Vehicles

Catch up on the weekend's top five stories with this list compiled by The Fly: 1) The European Union will instill a 350,000-car limit per year for imports of Chinese hybrid vehicles, with the measure taking effect as soon as December 1, Alberto Nardelli and Jorge Valero of Bloomberg reports, citing a document outlining the plan seen by the journal. The cap will increase annually by 6% starting the second year of application. The cap will apply to all imports of hybrids. Publicly traded companies in the space include BYD (BYDDY), Geely (GELYF), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Toyota (TM) and Volkswagen (VWAGY). 2) Amazon (AMZN) is in discussions to acquire Decart, an AI startup, in a deal that may be valued around $7B, Kate Clark and Lauren Thomas of The Wall Street Journal reports, citing people familiar with the matter. A deal could come soon if talks don't fall apart or another suitor doesn't emerge, the sources added. 3) Pennsylvania Governor Josh Shapiro and Department of Community and Economic Development, DCED, Secretary Rick Siger announced the Commonwealth has secured an over $800M investment from global biopharma company GSK (GSK) to expand its operations in Montgomery County. The expansion will create more than 300 new jobs over the next five years, retain approximately 4,500 existing full-time jobs across the Commonwealth, and continue growing Pennsylvania's life sciences industry. GSK is expanding its facilities in Upper Merion Township, with construction planned to begin in 2027. 4) Nvidia (NVDA) is in discussions to either acquire or increase its investment in Reflection AI, a US start-up, George Hammond, Michael Acton, George Steer, and Arash Massoudi of The Financial Times reports, citing people with direct knowledge of the matter. Discussions are currently in the early stages, and a deal could take different forms, the sources added. 5) AstraZeneca (AZN) announced results from the HICKORY Phase III trial showed that efzimfotase alfa, ALXN1850, did not achieve statistical significance but demonstrated a numerical improvement in the primary endpoint of Six-Minute Walk Test in adolescents and adults with hypophosphatasia, HPP, who had not been previously treated with Strensiq at week 25, compared to placebo. In the overall population, at week 25, efzimfotase alfa achieved a least squares mean difference of 17.05 metres change from baseline in the primary endpoint of 6MWT, compared to placebo.

Major Averages Little Changed as Micron Reports Strong Q4 Earnings

The major averages were little changed to start the month as rising Treasury yields continue to weigh on markets even as Micron reported upbeat Q4 earnings and revenue. Also weighing on stocks was a jump in oil prices as traders await President Trump's next move in the war with Iran.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Micronreported better-than-expected Q4 results and provided an upbeat earnings and revenue outlook for Q1Accenturereported upbeat Q4 results but provided conservative FY27 earnings guidanceMSG Sports'board of directors approved a spinoff of its Rangers business from its Knicks businessMattelhas drawn takeover interest from Authentic Brands, WSJ reportsGeneral Motorsreported a 6% drop in Q3 U.S. sales, while Toyotareported an 8.4% increase in September U.S. sales on a volume basis, and Stellantisreported "steady" U.S. sales for last quarter2. WALL STREET CALLS:Wells Fargo upgraded BP, downgraded Exxonon relative valuation callOccidentalupgraded to Buy at Goldman SachsBarclays reinstated Williamswith an Overweight, sees growth from behind-the-meter powerEthosdowngraded to Neutral from Overweight at JPMorganArgus upgraded Regeneron, sees attractive entry point after selloff3. AROUND THE WEB:BAE Systemsis weighing a bid for Robin Radar in a potential $2.3B deal, Reuters reportsMetaCEO Mark Zuckerberg helped initiate and draft the principles behind the White House's voluntary AI industry accord, working with Nvidia'sJensen Huang and other executives to address regulatory and safety concerns, Semafor reportsTencenthas signed an estimated $7B, five-year lease with Oracleacross Southeast Asian data centers, giving it access to roughly 100,000 advanced AI chips unavailable in China, FT saysBroadcomis emerging as a uniquely strategic Anthropic partner, spanning compute supply, equipment leasing, and up to $42B of infrastructure financing, Reuters reportsGoogleis paying roughly 100 digital publishers for how much their content contributes to AI Overviews, AI Mode, and Gemini in a pilot, The Information reports4. MOVERS:Synopsysgained after providing guidance for FY27 and announcing its intention to repurchase $1B sharesWave Life Sciencesincreased after announcing FDA feedback supported its pathway for WVE-006Infosyswas higher in New York after partnering with Columbia University to develop its AI R&D activitiesCortevafell after completing the spin-off of its seed and genetics businessNektarwas lower after announcing long-term data on rezpegaldesleukin5. EARNINGS/GUIDANCE:Lyftbacked its outlook for Q3McCormickreported Q3 results and reaffirmed its outlook for FY26Acuityreported Q4 results, with EPS beating consensusCardinal Healthreaffirmed its outlook for FY27Progress Softwarereported Q3 results and provided guidance for both Q4 and FY26INDEXES:The Dow rose 20.51, or 0.04%, to 50,926.56, the Nasdaq gained 10.53, or 0.04%, to 26,871.60, and the S&P 500 advanced 14.91, or 0.19%, to 7,666.45.