🚀 Ev sales fall

In partnership with

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Kimberly-Clark, the maker of Huggies and Kleenex, announced it will acquire Kenvue, the Johnson & Johnson spinoff that owns Tylenol, Band-Aid, and Listerine, in a $48.7 billion cash-and-stock deal that would create one of the world’s largest consumer staples companies. The merger combines 10 billion-dollar brands with expected 2025 revenue of $32 billion and $7 billion in adjusted EBITDA, while targeting $1.9 billion in cost synergies within three years. Kenvue’s shares surged 15% on the news, while Kimberly-Clark’s fell 12%. The move follows months of pressure on Kenvue’s stock after unfounded claims by President Trump about Tylenol’s safety and reflects a wave of consolidation in the consumer goods sector as companies respond to rising costs and shifting consumer demand. The transaction is expected to close in the second half of 2026.

2. OpenAI has signed a $38 billion deal with Amazon Web Services, marking its first major partnership with the cloud leader and a significant shift away from Microsoft, which had been its exclusive cloud provider. The agreement gives OpenAI access to hundreds of thousands of Nvidia GPUs through AWS data centers, with plans to expand capacity through 2026 and beyond. Amazon shares rose 5% following the announcement, which positions AWS to host both the training and inference of OpenAI’s next-generation models. The deal underscores OpenAI’s effort to diversify its infrastructure partners as it prepares for a potential IPO and reflects growing competition among cloud giants to power the AI boom.

3. U.S. electric vehicle sales plunged in October after the Trump administration ended federal tax credits of up to $7,500 per purchase, prompting sharp declines at Ford, Hyundai, and Kia. Ford’s EV sales dropped 25% year over year, with the Mustang Mach-E and F-150 Lightning both posting double-digit losses, while Hyundai’s Ioniq 5 and Ioniq 9 fell 80% and 71% month over month. Automakers said many buyers rushed to complete purchases before the credits expired, leading to an expected market “reset.” Meanwhile, hybrid vehicle sales rose, signaling a shift in consumer demand as EV affordability pressures mount.

   Headlines

   1. Beyond Meat fell 11% yesterday as it continues its decline after a significant surge in stock price as a meme stock a few years ago.

   2. Donald Trump will not attend the Supreme Court hearing on the validity of his tariffs.