Rubrik upgraded at William Blair after beat and raise

Investing.com-- U.S. stocks edged higher ahead of a key inflation report, with investors looking for confirmation that the Federal Reserve will cut interest rates next week.

At 09:35 ET (14:35 GMT), the Dow Jones Industrial Average gained 85 points, or 0.2%, the S&P 500 index gained 14 points, or 0.2%, and the NASDAQ Composite rose 102 points, or 0.4%.

PCE inflation gauge in spotlight

Expectations of 25-basis point reduction at the Federal Reserve’s December 9–10 meeting are running hot -- with futures now pricing in roughly an 87% probability -- on the back of recent weak labor data and broader signs of economic cooling.

Thursday’s weekly jobless claims plunged by 27,000 to a seasonally adjusted 191,000, the lowest level since September 2022, but economists cautioned that distortions tied to the Thanksgiving holiday may have exaggerated the decline.

Elsewhere, a private-sector payroll report from ADP on Wednesday showed a decline of 32,000 jobs -- the largest drop in over two and a half years, and a report by Challenger, Gray & Christmas stated that announced job cuts dropped sharply in November but hiring intentions remained weak.

While the importance of price stability, the second element of the Fed’s dual mandate, has faded a little of late, all eyes are now on the release of the delayed monthly core inflation gauge, the Personal Consumption Expenditures Price Index (PCE), later in the session.

This is widely seen as the Fed’s preferred inflation measure, and a soft PCE print could further embolden rate-cut expectations.

Excluding food and energy, the underlying, or "core," PCE price index is seen holding at 2.9% in the 12 months to September and 0.2% month-on-month.

Beyond PCE, the economic calendar will feature the latest survey of consumer sentiment from the University of Michigan.

Netflix agrees to buy Warner Bros Discovery

In the corporate sector, Netflix (NASDAQ:NFLX) has agreed to acquire Warner Bros Discovery (NASDAQ:WBD) in a cash and stock transaction valued at $27.75 per share, with a total enterprise value of approximately $82.7 billion.

The deal, announced on Friday, follows a weeks-long bidding war where Netflix outbid Paramount Skydance’s (NASDAQ:{{8171’s|PSKY}}) nearly $24-a-share offer with its nearly $28-a-share proposal.

Should the transaction be finalized, it would transform Netflix into a media powerhouse with control over one of the most valuable content libraries in the entertainment industry.

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Elsewhere, Ulta Beauty (NASDAQ:ULTA) shares soared after the cosmetics retailer topped Wall Street estimates for its fiscal third quarter and raised its full-year outlook.

Victoria’s Secret (NYSE:VSCO) stock rose strongly after the lingerie retailer reported better-than-expected third quarter results, raising its full-year outlook as its turnaround strategy shows signs of success.

On the flip side, Hewlett Packard Enterprise (NYSE:HPE) stock slumped after the cloud services and hardware company missed analysts’ revenue expectations for the fourth quarter, posting $9.68 billion versus a consensus estimate of $9.94 billion.

Crude steadies; WTI on track for weekly gain

Oil prices steadied Friday, maintaining the previous session’s gains as stalled diplomatic progress over the Ukraine war and firm expectations of a U.S. Federal Reserve rate cut supported sentiment.

Brent futures slipped 0.2% to $63.16 a barrel, and U.S. West Texas Intermediate crude futures fell 0.3% to $59.51 a barrel.

Both contracts jumped nearly 1% on Thursday, and while Brent was mostly unchanged this week, WTI was on track for a 1.5% weekly gain - a second straight week of increase.

The lack of progress in U.S.-Russia talks to end the Ukraine war has dampened hopes that energy sanctions on Russian crude could be eased soon, keeping a risk premium in the market.

Ayushman Ojha contributed to this article

Investing.com -- Biomea Fusion Inc (NASDAQ:BMEA) stock surged 12.6% in premarket trading Friday after the company presented positive long-term results for its diabetes treatment icovamenib at a scientific conference.

The clinical-stage diabetes and obesity company announced that its COVALENT-111 study showed durable glycemic and c-peptide improvements in patients with insulin-deficient type 2 diabetes, with benefits continuing 9 months after the final dose.

The data, presented at the 23rd World Congress on Insulin Resistance, Diabetes & Cardiovascular Disease (WCIRDC) in Los Angeles, demonstrated that icovamenib, a menin inhibitor, produced lasting treatment effects in severe insulin-deficient type 2 diabetes patients.

"The results we presented at this meeting highlight the lasting and continuous benefits observed in our study, with durable glycemic and C-peptide improvements 9 months after the last dose," said Mick Hitchcock, Ph.D., Interim CEO and Board Member of Biomea Fusion.

Key findings from the study showed higher HbA1c reduction was associated with higher icovamenib exposure, and the treatment improved long-term insulin secretion in severe insulin-deficient type 2 diabetes. The company also reported treatment effects in GLP-1 "failures" continued to improve with clinically significant improvements in HbA1c.

The COVALENT-111 trial was a double-blind, randomized, placebo-controlled study that enrolled adult patients diagnosed with type 2 diabetes within the last 7 years. According to the company, icovamenib was generally well-tolerated, with no adverse-event related discontinuations and no related serious adverse events reported.

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

Here’s a summary of the most significant insider transactions disclosed on Thursday, December 4, 2025.

TOP BUYS

Standard Biotools Inc (NASDAQ:LAB) saw substantial insider buying as Casdin Partners Master Fund and related entities purchased shares worth $502,570 between December 2nd and December 4th, 2025. The fund acquired 125,000 shares on December 2nd, 75,000 shares on December 3rd, and 150,000 shares on December 4th at prices ranging from $1.4201 to $1.4468 per share. These purchases come as Standard Biotools, with a market cap of approximately $554 million, has delivered a strong 6-month price return of nearly 45%. The acquisition prices align with assessments that the stock may be slightly undervalued, with the company maintaining a healthy balance sheet featuring more cash than debt.

Alumis Inc (NASDAQ:ALMS) Director Srinivas Akkaraju made a significant investment of $2,039,900 through three separate transactions. According to SEC filings, Akkaraju purchased a total of 262,027 shares between December 2 and December 4, with prices ranging from $7.55 to $8.18 per share. Specifically, he acquired 96,000 shares on December 2, 100,000 shares on December 3, and 66,027 shares on December 4. The purchases come as Alumis has demonstrated remarkable momentum, with a 147% price return over the past six months. The company currently trades at $8.3 with a market capitalization of approximately $818 million, though technical indicators suggest the stock may be in overbought territory.

Rapid7, Inc. (NASDAQ:RPD) ten-percent owner Jana Partners Management, LP increased its stake in the company through a purchase worth approximately $652,671. The firm acquired 41,545 shares at a price of $15.71 on November 28, 2025. Following this transaction, Jana Partners Management now reports ownership of 6,760,149 shares of Rapid7.

Warner Music Group (NASDAQ:WMG) director Valentin Blavatnik purchased 35,810 shares of Class A Common Stock on December 2, 2025, in a transaction totaling $998,382. The shares were acquired at prices ranging from $27.76 to $27.91, with an average price of $27.88 per share. Following the transaction, Blavatnik directly owns 104,074 shares of Warner Music Group.

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Director Jeffrey E. Kelter acquired 300,000 shares of common stock on December 3, 2025, in three separate transactions totaling $540,210. The purchases were executed at a price of $1.8007 per share, with the price range for these shares between $1.70 and $1.85.

TOP SELLS

Axsome Therapeutics (NASDAQ:AXSM) Chief Executive Officer Herriot Tabuteau sold a total of 79,973 shares between December 2 and December 4, 2025, for approximately $11.6 million. The sales were executed under a pre-approved 10b5-1 plan and involved multiple transactions with prices ranging from $144.59 to $148.18 per share. The transactions were related to the exercise of stock options expiring in May 2026. Tabuteau exercised options to acquire shares at $8.02 per share before selling them at market prices, with transactions of 49,252 shares on December 2nd, 20,163 shares on December 3rd, and 10,558 shares on December 4th. The total cost to exercise the options was $641,383.

Carvana Co (NASDAQ:CVNA) President of Special Projects Thomas Taira sold 25,000 shares of Class A Common Stock on December 3, 2025, according to an SEC Form 4 filing. The shares were sold at $400 per share, with the total transaction amounting to $10,000,000. Following the transaction, Taira directly owns 80,832 shares of Carvana. The sale was executed under a Rule 10b5-1 trading plan adopted on August 8, 2025. The transaction comes as Carvana’s stock trades near its 52-week high of $413.33, having delivered a 96% return year-to-date and 53% over the past year, with the stock currently trading at approximately its Fair Value.

Carvana Co (NYSE:CVNA) Director Michael E. Maroone sold a total of 30,928 shares of Class A Common Stock on December 3, 2025, for approximately $12,381,668. The sales included 29,576 shares at prices ranging from $400.00 to $400.99 and 1,352 shares at prices ranging from $401.02 to $401.32. On the same day, Maroone exercised options to acquire 30,928 shares at an exercise price of $15.00, for a total value of $463,920. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 30, 2025.

Datadog (NASDAQ:DDOG) Chief Executive Officer Olivier Pomel sold a total of 48,148 shares of Class A Common Stock on December 2nd and 3rd, 2025, for approximately $7.5 million. The sales occurred in a price range of $153.8138 to $158.5985. On December 2, Pomel sold 15,225 shares at a price of $158.5985, for a total of $2,414,662. On December 3, he sold 32,923 shares in a price range of $153.8138 to $156.23, for a total of $5,090,929. The filing indicates the sales were made under a pre-arranged 10b5-1 trading plan established on September 13, 2024.

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) ten percent owner Ocampo Family Trusts sold 100,000 shares of common stock on December 2nd and 3rd, 2025, for approximately $18 million. The sales were executed in two tranches, with 4,171 shares sold on December 2 at $180.00 per share, and 95,829 shares sold on December 3 at a weighted average price of $180.06. The transaction comes as MTSI shares trade near their 52-week high of $183.90, with the stock currently at $188.15 and showing significant momentum with a 9.16% return over the past week and impressive returns of 43.99% over the past six months.

Why Monitor Insider Transactions

Tracking insider buying and selling can provide valuable insights for investors. When corporate insiders purchase shares of their own companies, it often signals confidence in the company’s future prospects. Conversely, insider selling might occur for various reasons, including diversification, tax planning, or personal financial needs, and doesn’t necessarily indicate negative sentiment. By monitoring these transactions, investors can gain additional perspective on potential investment opportunities, though insider activity should be just one factor in a comprehensive investment analysis approach.

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