Key Takeaways
- Walmart (WMT) delivered strong Q3 results, surpassing revenue and earnings estimates, and announced a strategic move to list its stock on the Nasdaq from the NYSE starting December 9, 2025.
- Moderna (MRNA) shares rose after the company issued a positive 2026 growth outlook, targeting 10% revenue growth and securing a $1.5 billion credit facility to fuel its expanding vaccine and oncology pipeline.
- The highly anticipated September jobs report, delayed by a government shutdown, is expected to show 55,000 new jobs and 4.3% unemployment, figures that will significantly influence the Federal Reserve's December rate decision.
- Piper Sandler analysts suggest Tesla's (TSLA) latest Full Self-Driving (FSD) software may already outperform most U.S. drivers, reiterating an "Overweight" rating.
- Influential investor Jeffrey Gundlach voiced concerns about one of the "least healthy" stock markets of his career, advising investors to maintain at least 20% cash in their portfolios.
Corporate Highlights: Walmart, Moderna, and Tesla Make Waves
Walmart (WMT) reported robust third-quarter results, exceeding analyst expectations across key metrics. The retail giant posted Q3 revenue of $179.5 billion, outperforming estimates of $177.43 billion. U.S. comparable sales were up 4.5%, surpassing the estimated 3.8% increase, while adjusted earnings per share reached $0.62 against an estimate of $0.60. Looking ahead, Walmart raised its fiscal year 2026 adjusted EPS outlook to a range of $2.58 to $2.63 and projected net sales growth of 4.8% to 5.1% in constant currency. In a significant strategic move, Walmart announced it would transfer its stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market. The company expects its shares to commence trading on Nasdaq on December 9, 2025, under its current ticker symbol "WMT". This transition is seen as aligning with Walmart's tech-powered, long-term strategy and could position the retailer for inclusion in the Nasdaq 100 Index.
Moderna (MRNA) saw its stock climb by 2.9% following the release of its 2026 growth outlook and strategic updates. The biotechnology firm is targeting up to 10% revenue growth in 2026 and aims to achieve cash breakeven by 2028. Moderna also announced it has secured a $1.5 billion five-year credit facility from Ares Management Credit Funds, bolstering its financial position for future growth. The company plans to expand its seasonal vaccine franchise to up to six approved products by 2028 and expects readouts from nine ongoing Phase 2 and Phase 3 clinical studies. Additionally, Moderna projects 2026 cash costs of approximately $4.2 billion and 2027 cash costs between $3.5 billion and $3.9 billion, while discontinuing four programs in its pipeline as part of a strategic reprioritization.
In the automotive sector, Piper Sandler analyst Alexander Potter suggested that Tesla’s (TSLA) latest Full Self-Driving (FSD) software, after a test-drive during an investor visit, may already outperform the average American driver. The analyst reiterated an "Overweight" rating on the stock with a $500 price target.
Economic Outlook and Market Sentiment
The highly anticipated September jobs report is set to be released today, after a 43-day delay caused by a government shutdown. Economists are forecasting the creation of 55,000 new jobs and an unemployment rate holding steady at 4.3%. This data is expected to be a critical factor influencing the Federal Reserve’s December rate decision, where market odds are currently split between an interest rate cut and holding steady.
Meanwhile, prominent investor Jeffrey Gundlach expressed a pessimistic view on the current equity market, stating he sees one of the "least healthy" stock markets of his career. He advised investors, as per CNBC, to maintain at least 20% cash in their portfolios as a precautionary measure.
International Developments
Mercedes-Benz (MBG.DE) CEO Ola Källenius anticipates "tough" years ahead in the China market, acknowledging intense competition from local brands. Despite these challenges, Källenius expressed confidence that the automaker can defend its market share in the region.
On the geopolitical front, the UK Government announced a contract for its new laser weapon, DragonFire, which is designed to take down high-speed drones. This development highlights ongoing advancements in defense technology.
Separately, Iran’s Ambassador to the International Atomic Energy Agency (IAEA) dismissed a recent Board of Governors' resolution as "political and unconstructive." The resolution presses Iran for nuclear information and inspections.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.