Top Midday Decliners

AstraZeneca's gastric cancer ADC doubles patient survival, extending life by five more months, aiming for annual sales of $5 billion; the company is racing with Takeda and Astellas to target Claudin 18.2.

According to reports, SK Hynix plans to return about 80% of the proceeds from reducing its stake in Japan's Kioxia Holdings to shareholders by distributing a special dividend of approximately 16 trillion won (about $12 billion).

Amid a sharp drop in Korean stocks, Korean retail investors turned contrarian, making a net purchase of over 315.4 billion KRW in leveraged products of Samsung and SK Hynix in October alone. They simultaneously spent 4.7 trillion KRW acquiring US-listed triple-leveraged semiconductor ETF (SOXL), accounting for nearly 74% of total purchases of US stocks during the same period. This marks the first rebound since tightening regulations in July and two consecutive months of net selling.

CoreWeave's stock price has dropped nearly 70% from its peak to $54.25, with the short interest ratio rising to 15%. As the AI bubble index reaches an extreme value of 74 and the company faces $3 billion in debt pressure, its share price is at risk of falling below the critical support level of $50.