RESEARCH FRONTIERS ANNOUNCES RETIREMENT OF MICHAEL R. LAPOINTE, WHO LED EXPANSION OF SPD-SMART AEROSPACE PROGRAMS

UBS analyst Jay Sole downgraded Gildan Activewear (GIL). Wall Street saw volatility, with $2.3T erased in market value, Nasdaq in correction, and VIX up 70%. Strong jobs data raised Fed rate hike bets to 78%, with 10-year Treasury yield at 4.87%. Analysts predict more hikes, noting wage growth lagging inflation. Historically, VIX spikes preceded S&P 500 gains.

GE Aerospace announced US$12.9bn in agreements with China Eastern Airlines (MU) and others at the China International Import Expo. Deals include 202 LEAP-1A engines for Airbus A320neo-family aircraft, spare engines, and long-term support. CFM International, a GE-Safran joint venture, confirmed the engine selection. GE's Q3 results show a US$170bn services backlog and 17% YoY growth in services revenue.

Tesla updated its Robotaxi app to show estimated arrival times and availability for Cybercab and Model Y, aiding rider decisions. Cybercab fleet grew to 573 in Texas, with plans to expand to Dallas. Elon Musk announced Cybertruck production will end by mid-2027 to prioritize Cybercab production. SpaceX targets November 13 for Starship Flight 15, aiming to catch the ship with the launch tower.

The U.S. Army awarded Pegasystems a software contract with a maximum value of $419 million. The agreement, lasting up to 10 years, covers subscriptions, cloud hosting, and professional services for authorized military organizations. Pegasystems was named the sole responsible source by the Army, citing its platform's unique features. The company announced the award on November 4.

Novartis' experimental drug pelacarsen failed to reduce major cardiovascular events in a large study, despite lowering lipoprotein(a) levels. The company will abandon the drug. Results were published in the New England Journal of Medicine, surprising experts who expected positive outcomes. The study involved 8,350 patients over nearly five years, with no significant difference in heart-related events between the treatment and placebo groups.

AST SpaceMobile (ASTS) announced plans to build its own reusable rocket, Blacklift, for launching satellites starting in late 2028. Firefly Aerospace (FLY) will supply engines, valued at over $1.3B. ASTS shares rose 7.05%, while FLY surged 36.8%. The deal includes $800M upfront, including ASTS shares, and adds to ASTS's cash burn and dilution.