Andersen closes $202.4 million IPO with full overallotment exercise

Investing.com-- U.S. stock index futures fell slightly on Thursday evening, cooling after softer-than-expected November inflation data sparked a rebound in technology shares and a broader rally on Wall Street. 

But despite Thursday’s gains, Wall Street indexes were still trading down for the week, pressured by an extended rout in tech and brewing uncertainty over the U.S. economy.

S&P 500 Futures fell nearly 0.1% to 6,825.50 points by 18:4 ET (23:46 GMT). Nasdaq 100 Futures fell 0.1% to 25,239.75 points, while Dow Jones Futures fell 0.2% to 48,239.0 points. 

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Wall St rises on soft Nov CPI, but analysts say look to Dec print

Wall Street indexes advanced on Thursday after a softer-than-expected consumer price index inflation reading for November drove some bets that the Federal Reserve will cut interest rates further in the coming year.

But analysts warned that the November reading was unlikely to factor into the Fed’s rate outlook, given that it was still affected by some lingering disruptions from a government shutdown in October. 

Goldman Sachs analysts said Thursday’s reading was “unlikely to move the needle” for the Fed, stating that December’s data will be much more significant for policymakers in gauging whether inflation was cooling. 

Still, Wall Street indexes advanced following the CPI print, with tech seeing some relief after concerns over stretched AI valuations battered the sector. A 10% rally in memory chip maker Micron Technology (NASDAQ:MU), after it posted blowout quarterly earnings, also aided Wall Street. 

The S&P 500 rose 0.8% to 6,774.77 points on Thursday. The NASDAQ Composite jumped 1.4% to 23,006.36 points, while the Dow Jones Industrial Average rose 0.1% to 47,951.85 points. 

All three indexes rebounded from a three-week low, but were still trading down between 0.7% and 1% for the week, following a slump in technology shares. 

Oracle surges in aftermarket trade, Fedex up on positive earnings

Tech major Oracle Corporation (NYSE:ORCL) rallied as much as 6% in aftermarket trade, aided by reports that the company was part of an American consortium that will buy social media giant TikTok’s U.S. operations. 

Mizuho analysts said the deal could help boost demand for Oracle’s non-artificial intelligence, high-margin cloud business. 

Oracle was also buoyed by a report that AI startup OpenAI, to which the company is heavily exposed, was seeking to raise at least $100 billion at a $830 billion valuation. 

But the stock was still trading down more than 18% over the past month, as heightened concerns over stretched AI valuations and OpenAI’s ability to meet its spending commitments battered tech stocks. Oracle was among the worst-hit by this rout, with weak guidance from the company last week sparking deep losses in the stock. 

Logistics and delivery giant FedEx Corporation (NYSE:FDX) rose as much as 2% in aftermarket trade, after the company clocked stronger-than-expected fiscal second quarter earnings.

But the firm, which is widely regarded as a barometer for the global economy, still flagged a highly challenging macro environment. Fedex’s strong earnings and positive guidance was driven chiefly by ongoing cost-cutting measures at the delivery giant. 

Among other movers, sportswear major Nike Inc (NYSE:NKE) slumped 11% after it reported shrinking quarterly margins and steadily declining sales in China. 

Investing.com-- Oracle Corporation’s (NYSE:ORCL) shares jumped in extended trading on Thursday as investors cheered news of a potential U.S. TikTok transaction and fresh fundraising chatter at OpenAI.

Reports showed that ByteDance agreed to sell more than 80% of TikTok’s U.S. operations to a consortium that includes Oracle, Silver Lake, and Abu Dhabi-based MGX, a move aimed at satisfying U.S. national security demands and avoiding a ban of the popular short-video app.

Oracle shares jumped 6% to $190.74 after the bell.

Under the accord, Oracle and partners will own the majority of the newly formed TikTok US entity, with a closing targeted for late January.

The rebound also coincided with The Information reporting that OpenAI, the artificial-intelligence developer backed by Microsoft (NASDAQ:MSFT), is in early discussions to raise up to $100 billion at an estimated $750 billion valuation, underscoring continued appetite for AI investment.

Oracle’s shares had slumped earlier this month on concerns about hefty infrastructure spending tied to a multibillion-dollar cloud partnership with OpenAI.

Investing.com -- Chinese electric vehicle manufacturers continue to attract investor attention despite market volatility, with several standout performers emerging according to recent WarrenAI analysis using Investing Pro metrics.

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1. BYD Company Limited (SEHK:1211) stands as the clear sector leader, offering the strongest combination of growth, value, and quality fundamentals. Currently trading at HK$93.90, BYD shows significant upside potential with a fair value estimate suggesting 56.7% growth potential. The company’s impressive 24.8% return on equity and 14% EBITDA margin demonstrate financial strength unmatched by competitors. While experiencing a slight Q3 revenue decline (-3.1%), BYD’s 2024 revenue surge of 29% positions it as a cornerstone for long-term Chinese EV investment. Technical indicators suggest potential near-term improvement, with 5-minute and 15-minute signals recently shifting to "strong buy." The company’s international expansion, particularly in South Africa, further strengthens its growth narrative.

2. XPeng Inc (NYSE:XPEV) ranks second, presenting a high-growth but higher-risk profile. Trading at $18.60, XPeng has delivered remarkable 48.8% one-year returns and triple-digit revenue growth (101.8% in Q3). However, negative margins (EBITDA -11.2%) and ROE (-17.1%) highlight profitability challenges. XPeng’s international ambitions are evident through its new Malaysia plant and 95% overseas sales growth. Technical indicators show neutral 1-hour readings but "strong buy" signals in 30-minute timeframes, potentially attracting momentum traders.

3. NIO Inc (NYSE:NIO), priced at $4.93, represents a speculative turnaround opportunity. Despite concerning financials including a -143.8% ROE and negative EBITDA, recent EPS beats and a 14% one-year return suggest possible improvement. Analyst opinions remain divided, with price targets ranging from $3.00 (Barclays) to $8.10 (Citi). NIO’s projected 31% revenue growth for 2025 and 102.5% Q4 EPS growth forecast provide the foundation for its turnaround narrative.

4. Li Auto Inc (NASDAQGS:LI) rounds out the top performers at $16.19, though it shows concerning trends. Despite maintaining positive ROE (12.3%) and decent cash flow yield (10.7%), Li Auto faces significant headwinds including a -29% annual return, sharp earnings downgrades, and consistent "strong sell" technical signals. A 36.2% Q3 revenue drop and recent analyst downgrades further complicate its near-term outlook, despite a positive 24.9% analyst price target upside.

Chinese EV investors should weigh these metrics carefully when considering positions in this volatile but potentially rewarding sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- TikTok has signed binding agreements to create a US joint venture that will be majority-owned by American investors, according to an internal memo from CEO Shou Chew to employees.

The memo, reviewed by Bloomberg, revealed that TikTok and its parent company ByteDance have reached agreements with a consortium consisting of Oracle Corporation (NYSE:ORCL), Silver Lake, and MGX, with a closing date set for January 22, 2026.

The deal structure matches what the White House announced in September, which was pending approval from China. According to the memo, 50% of the investors will be new, with Oracle, Silver Lake, and MGX (an Abu Dhabi-based investment company) each holding 15% stakes. Affiliates of certain existing ByteDance investors will hold 30.1%, while ByteDance will retain a 19.9% stake.

It should be noted that China’s opinion on the matter was not included.

"Upon the closing, the US joint venture, built on the foundation of the current TikTok US Data Security organization, will operate as an independent entity with authority over US data protection, algorithm security, content moderation and software assurance," Chew wrote in the memo.

The arrangement follows more than a year of negotiations between Washington and ByteDance. Under the agreement, ByteDance will license its AI recommendation technology to the newly created US TikTok entity, which will use the existing algorithm to retrain a new system secured by Oracle, TikTok’s cloud partner.

While TikTok’s global US entities will continue to manage "global product interoperability and certain commercial activities, including e-commerce, advertising, and marketing," the new joint venture will have control over key security and content operations in the United States.

President Trump has extended the deadline for the sell-or-ban rule multiple times since returning to office, with the current deadline set for January 2026.

Investing.com -- Fitch Ratings has upgraded Pershing Square Holdings, Ltd.’s (PSH) Long-Term Issuer Default Rating and senior unsecured debt rating to ’BBB+’ from ’BBB’ with a Stable Outlook.

The upgrade reflects PSH’s larger scale from organic growth, reduced single-name concentration, and lower management fees following its strategic transaction with Howard Hughes Holdings, Inc. (HHH). Fitch expects PSH’s incentive fees to decline as its investment manager, Pershing Square Capital Management (PSCM), raises additional fee-paying assets under management.

On Thursday, PSH announced plans to invest up to $1.0 billion in non-interest-bearing perpetual preferred stock issued by HHH to support its $2.1 billion acquisition of specialty insurer Vantage Group Holdings Ltd. The preferred stock will convert to Vantage common equity if not redeemed within seven years. PSH plans to fund this investment with cash on hand and potential future asset sales.

As of October 31, 2025, PSH managed $19.3 billion in assets under management, with PSCM’s core strategy at $21.4 billion. The fund reduced its Universal Music Group stake in March 2025 to 11% of assets from 21% previously. However, concentration remains high with Alphabet at 14% of assets, and the top three positions (Alphabet, Uber, Brookfield) comprising 41% of assets.

PSH’s debt-to-equity leverage stood at 0.24x as of October 31, 2025, up from 0.19x a year earlier, reflecting opportunistic debt issuance during 2025. Net leverage is 0.14x, supported by a sizable cash balance.

The rating agency views PSH’s liquidity positively, with 98% in cash or Level 1 securities. PSH’s next debt maturity is in October 2027 (EUR500 million).

Fitch notes that PSH faces elevated key person risk due to Bill Ackman’s influence. A key person event trigger in its bonds would reduce the maximum leverage ratio to 25% from 33%, with Ryan Israel becoming portfolio manager if triggered.

PSH has outperformed the S&P 500, net of fees, in five of the past seven years, with strong performance continuing through October 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Moody’s Ratings has downgraded Torrid LLC’s corporate family rating (CFR) to Caa1 from B3, reflecting deteriorating operating performance and execution missteps in the third quarter of 2025.

The rating agency also lowered Torrid’s probability of default rating to Caa1-PD from B3-PD and downgraded its senior secured term loan rating to Caa2 from Caa1. The speculative grade liquidity rating remains unchanged at SGL-3, while the outlook was revised to stable from negative.

Moody’s projects that Torrid’s adjusted EBITA/interest ratio will fall below 1x in 2025, with modestly negative free cash flow expected for the full year. The downgrade also considers governance issues, including "aggressive financial policies" evidenced by share repurchases in 2025 that reduced the company’s financial flexibility.

The credit profile is constrained by Torrid’s declining performance and limited free cash flow generation. Despite moderate leverage at 4.4x for the last twelve months ending Q3 2025, interest coverage remains weak as the business operates below peak earnings levels.

Moody’s cited Torrid’s high business risk as a relatively small retailer in the competitive women’s apparel sector, with about two-thirds of its stores exposed to mall traffic. While the company has outlined plans to improve profitability through assortment changes and store closures, Moody’s noted uncertainty around the timing and magnitude of these improvements.

The stable outlook reflects expectations for earnings recovery and adequate liquidity over the next 12-18 months. Torrid’s credit profile benefits from its position in the plus-sized apparel category and significant e-commerce business, which represents over 60% of revenue.

The ratings could face further downgrade if liquidity weakens, including continued negative free cash flow after 2025 or increased reliance on its revolving credit facility. Conversely, an upgrade could occur if operating performance improves, including revenue and earnings recovery with solid positive free cash flow, while maintaining adequate liquidity.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.