Jefferies initiates Mentari Therapeutics stock with buy rating on migraine pipeline

Goldman Sachs, Citigroup, and other banks committed $270 million to Project Faro, a venture to issue a dollar-denominated stablecoin. The group also plans stablecoins pegged to other G7 currencies, with a euro-denominated token as a priority. The funds will cover five years of operational costs.

McDonald's named Uber its preferred delivery partner for orders in its app, expanding a partnership across 14 markets. The deal, part of a multi-year agreement, includes Uber handling McDonald's app orders and integrating rewards. McDonald's delivery business generates over $20 billion annually. Uber reported $9.8 billion in free cash flow in 2025. DoorDash remains the market leader with 59% of delivery-app spending, but Uber is gaining ground with high-profile partnerships.

Morgan Stanley kept Vir Biotechnology at Overweight, raising its price target to $28 from $25, citing a 105.2% upside from the Nov 9 close of $13.64. Recent analyst targets range from $22 to $25.

Michael Burry reduced his bearish Caterpillar (CAT) position by 75% after his put options quadrupled in value. CAT's stock fell 10% last week but rebounded 7.2% to $598.88. Q3 revenue rose 17% to $20.7B, with earnings up to $7.20 per share. CAT's Power & Energy division saw 18% sales growth, driven by data center demand.

Boeing plans to cut 2,500 jobs (5%) in its commercial airplanes division due to slower-than-expected production increases. The division, which makes the 737 Max, lost $697 million last quarter. Layoffs will begin in December, combining attrition and involuntary cuts. Boeing's stock is down 25% in 2026.

Freedom Broker downgraded Costco (COST) to hold, raising its price target to $1,050. The stock trades near its 52-week high, with October sales up 12.6% YoY. Analysts note premium valuation but positive operating model. Other firms have mixed outlooks, with price targets ranging from $1,050 to $1,250.