Late Night Market Recap Stocks Surge on Mega Deals and Earnings Beats

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•  03 Nov 2025
 

•   ASX  
   
  -4.08%
•   CDE  
   
  -6.67%
•   CSCO  
   
  -2.14%
•   FUBO  
   
  +7.80%
•   KMB  
   
  -1.74%

$KVUE stole the spotlight skyrocketing more than 12% after confirming a massive $48.7 billion buyout by Kimberly-Clark. The Tylenol maker also delivered strong Q3 earnings that topped expectations and reaffirmed its 2025 outlook. The market rewarded Kenvue profit growth and leadership shake-up, with shares becoming one of the day top S&P 500 gainers.

$KMB faced the downside of the same deal. Kimberly-Clark shares tumbled nearly 15% after announcing its plan to acquire Kenvue in an all-stock transaction. Investors were wary of the hefty price tag, but the merger could reshape the global health and wellness space. Despite the pullback, analysts see long-term synergies from the combination of two powerhouse consumer brands.

$PFE Pfizer made headlines for suing Novo Nordisk over alleged antitrust violations tied to a takeover battle involving Metsera. With the stock yielding around 6% and expectations modest, investors are watching closely for signs of recovery from declining COVID-era revenues.

$LUMN stunned the market with a 27% jump despite reporting a disappointing quarter. The surprise rally came as traders piled into beaten-down tech and telecom names that have been heavily shorted. Lumen move capped off a wild day for speculative gainers and hinted at renewed risk appetite across small-cap tech.

$ON delivering Q3 results that beat Wall Street estimates on both revenue and profit. The semiconductor maker guided in line for Q4, easing concerns about the broader chip slowdown. Investors are speculating whether auto-sector weakness has finally bottomed, giving ON Semiconductor some room for a potential rebound into year-end.

$CSCO traded higher after UBS upgraded the stock to "Buy" citing growing AI infrastructure demand. Cisco unveiled its new Unified Edge platform, signaling its push to become a major player in AI-driven networking. The market welcomed the move, with analysts forecasting a strong fiscal 2026 as enterprise spending on AI accelerates.

$MDB announcing that CEO Dev Ittycheria will step down and be replaced by former Cloudflare executive CJ Desai. The leadership transition came alongside reaffirmed guidance, reassuring investors that MongoDB growth story remains intact. The stock also crossed above its average analyst price target, a bullish sign of investor confidence in the long-term vision.

$NGD Coeur Mining announced a $7 billion all-stock deal to acquire the gold miner. The merger will create a North American precious metals powerhouse with seven operating sites and combined expected earnings of $3 billion. Although NGD shares pulled back, the move consolidates strength in the mining sector and positions the merged company for scale and efficiency.

$CDE dropped sharply after unveiling the same $7 billion merger with New Gold. Despite the initial selloff, the all-stock deal transforms Coeur into a top-tier producer with diversified operations across North America. Investors may have reacted to near-term dilution, but long-term fundamentals could prove favorable if gold prices hold near current levels.

$FUBO had a rollercoaster day falling over 8% even after reporting a surprise Q3 profit. fuboTV beat estimates on both earnings and revenue while recording record subscriber growth in North America. The mixed reaction suggests traders are still cautious about streaming competition, though the profitability milestone marks a key turnaround moment.

$SM fell more than 7% after reporting Q3 results that beat profit estimates but missed slightly on revenue. SM Energy also announced a merger with Civitas Resources in an all-stock deal. Despite the selloff, the company continues to deliver strong operational execution, and the merger could create a larger, more efficient energy player in the U.S. shale patch.

$ASX saw another strong session, rising 1% as investors continued to react to last week 23% surge following a Q3 blowout. ASE Technology results confirmed robust demand for packaging and testing services amid the AI chip boom, placing it among the standout semiconductor performers this quarter.

$KOS missing both top and bottom-line estimates in its latest earnings. Kosmos Energy provided cautious guidance, reflecting uncertainty in the global energy market. Despite the miss, the maintained optimism for its upcoming projects in Africa and the Gulf of Mexico, keeping long-term investors on watch.

$PR BP announced it would divest non-controlling interests in its Permian and Eagle Ford midstream assets to Sixth Street-managed funds. The transaction aligns with BP ongoing efforts to streamline its portfolio and focus on core energy production assets.

$VOD edged lower despite news that Vodafone Idea shares hit the 10% upper circuit earlier in the day. The surge came after India Supreme Court clarified that the government could decide on relief measures for telecom companies over AGR dues. While VOD global operations remain steady, traders are closely watching the developments in the Indian telecom market.

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