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Cleveland-Cliffs Posts $165 Million Q3 Profit, Guides to $715 Million Q4 EBITDA and Flags $4 Billion 2027 Target
Cleveland-Cliffs reported $165 million of Q3 net income on higher steel prices and shipments, guided to roughly $715 million of Q4 adjusted EBITDA and outlined a path to more than $4 billion of 2027 EBITDA built on contract renewals, even as third-quarter debt reduction was modest.
Bank of England Examines Barclays Over Private Credit Derivatives After Insider Complaint, FT Reports
The FT reports the Bank of England's PRA is examining whether Barclays traders misrepresented illiquid private credit loans after an insider complaint. Barclays says it takes its regulatory obligations seriously; shares fell about 2.6%.
Modal Receives First Nvidia Vera CPU Server, Moving Beyond Intel and AMD
Modal said it received its first Nvidia Vera CPU server, a break from Intel- and AMD-only processors, per Seeking Alpha, as Nvidia's CPU push widens beyond top AI labs.
Merck KGaA Agrees to Acquire Silence Therapeutics for $20.00 Per ADS in $1.3 Billion Deal
Merck KGaA has agreed to acquire Silence Therapeutics for $20.00 per ADS in an all-cash deal valued at about $1.3 billion in equity, according to Seeking Alpha and StockTitan.
Anthropic Pledges 5% of Shares to New Public Benefit Fund, With Escalator Tied to Valuation Gains
Anthropic said it is committing 5% of its shares, subject to stockholder approval, to a new Public Benefit Fund structured as a wholly owned LLC, with an additional 2% at the board's discretion for every 50% valuation gain above an undisclosed baseline.
Silgan and American Industrial Partners Funds to Acquire Trivium Packaging in $3.4 Billion All-Cash Deal
Silgan Holdings and funds affiliated with American Industrial Partners agreed to acquire Trivium Packaging in an all-cash deal valuing the metal packaging maker at about $3.4 billion, with Silgan shares up 5.8% pre-market, Seeking Alpha reported.
PBOC Studies Overnight Rate as Main Policy Benchmark, Pan Gongsheng Says
PBOC Governor Pan Gongsheng says China's central bank is studying a shift to the overnight reverse repo rate as its main policy benchmark, alongside new non-bank liquidity tools and loan pricing reform.
French Bonds and Paris Stocks Slide After Worst Unrest in Years, a Day Before Budget Vote
French bonds and Paris stocks fell after violent weekend protests, with the 10-year yield at 4.89% per The Guardian and the OAT-Bund spread at its widest since the euro crisis per CNBC, ahead of Tuesday's budget vote.
Stock Market Today: Energy Leads While S&P 500 Slips
Energy led the session while the S&P 500 slips. See the validated market scorecard, sector performance, and what traders are watching next.
Travelers' Q3 2026 Core EPS of $9.18 Tops Consensus by $1.75 as Record Investment Income and 86.8% Combined Ratio Drive Beat
Travelers reported Q3 2026 core income of $1.95 billion, or $9.18 per diluted share, versus a $7.43 consensus, with record net investment income, an 86.8% combined ratio and $538 million of pre-tax catastrophe losses; shares rose after the report.
Tesla Unveils Thruster-Equipped Next-Generation Roadster at SpaceX Site, Targets 2028 Production With No Price Set
Tesla unveiled a thruster-equipped next-generation Roadster at a SpaceX test site in Texas, targeting 2028 production. No retail price was disclosed, street-legal status is unresolved, and analysts say the car is unlikely to move Tesla's financials.
Labcorp to Acquire BioReference Health Clinical, Women's Health and Urology Testing Assets From OPKO for $722 Million
Labcorp has agreed to acquire BioReference Health's clinical, women's health, urology and corrections testing assets from OPKO Health for $722 million in cash plus up to $150 million tied to 4Kscore revenue, pending regulatory approval.
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