By George Glover and Mackenzie Tatananni
Stock futures were falling on Friday, as investors continued to worry about lofty valuations for tech companies.
These stocks were poised to make moves:
Applied Materials tumbled 7.2%. The chip equipment maker reported better-than-expected earnings and revenue after Thursday's close, and also forecast solid results for the current quarter, which ends in January. Investors may have been looking for stronger results, given the stock's recent rally. Coming into Friday, Applied Materials was up 37% this year.
Walmart declined 2.8% after the company announced longtime CEO Doug McMillan will retire next year. John Furner, the current as CEO of Walmart U.S., will succeed McMillon, effective Feb. 1, the company said.
Warner Bros. Discovery gained 2.3%. Paramount Skydance, Comcast, and Netflix are all preparing bids for the entertainment company ahead of next week's deadline, The Wall Street Journal reported, citing people familiar with the matter. Warner Bros., Paramount, and Netflix didn't immediately respond to requests for comment from Barron's. Comcast declined to comment.
Netflix, meanwhile, fell 1% ahead of a 10-for-1 stock split. Trading is expected to begin on a split-adjusted basis at market open on Nov. 17.
Nvidia stock slipped 2.8%. Amazon has privately joined Microsoft in supporting legislation that threatens to further curb the chip maker's exports to China, the Journal reported, citing congressional aides and people familiar with the matter.
Nvidia stock could also be taking a hit from the broader pivot away from artificial intelligence, with investors worried that valuations have become too high. Shares of data-analytics giant Palantir Technologies slipped 4.6% on Friday. As of Thursday's close, the stock has gained 128% this year.
Tesla stock slipped 2.8% to $390.70, having closed below $400 for the first time since mid-September on Thursday. The electric vehicle manufacturer's stock has fallen since shareholders approved a trillion-dollar pay award for CEO Elon Musk on Nov. 6, as the market rotates away from Big Tech.
Strategy declined 5.3%. Shares of the world's largest corporate holder of Bitcoin, formerly known as MicroStrategy, have declined along with falling crypto prices and concerns over its ability to service preferred dividends and debt interest costs.
Gap rose 2.1% to $24.80 after Jefferies upgraded the clothing retailer's stock to Buy from Hold, and raised its price target to $30 from $22. The new price target implies shares can rise 24% from their level as of Thursday's close, when they ended the session at $24.29.
Cidara Therapeutics stock soared 105%. Merck agreed to acquire the biotechnology company in an all-cash deal worth $9.2 billion. Under the terms of the agreement, Merck will pay Cidara stockholders $221.50 a share. The biotech is developing a drug designed to prevent the flu, along with at least three other therapies for solid tumors.
Write to George Glover at george.glover@dowjones.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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November 14, 2025 09:03 ET (14:03 GMT)
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