Stock Market News — November 13, 2026 — Pre-Market — Last 12 Hours (Pacific Time)
Executive Summary
The dominant story of the past 12 hours is the fallout from Jensen Huang's resignation as Nvidia CEO, which has triggered a cascade of consequences: Chinese AI stocks tumbled, U.S. lawmakers are accelerating chip export restrictions to China, and Colette Kress has stepped in as interim CEO. Against this backdrop, pockets of strength emerged — Cisco beat earnings and raised its outlook, Cerebras surged on a strong forecast and a new Microsoft partnership, and Anthropic's upcoming IPO is six times oversubscribed. U.S. stock futures are pointing lower as the tech recovery loses steam heading into Friday's open.
Sentiment Breakdown
| Sentiment | Count | Percentage |
|---|---|---|
| 🟢 Bullish | 28 | 27% |
| 🟡 Neutral | 22 | 21% |
| 🔴 Bearish | 54 | 52% |
Net Sentiment: Bearish — The Nvidia CEO crisis, tightening chip export curbs, broad Asian market weakness, and multiple individual stock declines overwhelm the bullish signals from Cisco, Cerebras, and select earnings beats.
Top Market-Moving Headlines
🔴 Nvidia / Leadership Crisis | Nvidia CEO Jensen Huang resigns in blow to AI boom he helped foster
Market Impact: Huang's departure — tied to revelations of relationships with employees — sent shockwaves through global markets. Colette Kress, the CFO who reportedly challenged Huang's bets, has been named interim CEO.
🔴 Nvidia / Geopolitics | China's access to some Nvidia chips in doubt as curbs gain traction in U.S. Congress
Market Impact: Bipartisan momentum is building in Congress to tighten AI chip export restrictions to China following Huang's exit. Speaker Johnson says a consensus is forming, raising the stakes for the entire semiconductor supply chain.
🔴 China Tech | China AI stocks tumble as Nvidia fallout fuels fears of tighter U.S. chip curbs
Market Impact: Chinese AI and semiconductor shares fell sharply on Friday as investors priced in the likelihood of stricter U.S. export controls. Hygon Information reversed a strong open to slip during the session.
🟢 Semiconductors / SMIC | Semiconductor Manufacturing International Corp stock surged 6.6% to HK$51.95
Market Impact: China's biggest chipmaker bucked the broader selloff, likely benefiting from expectations that tighter U.S. curbs on Nvidia could accelerate domestic chip demand.
🟢 Networking / Earnings | Cisco shares climb 4% on strong earnings beat and raised outlook
Market Impact: Cisco raised its full-year revenue forecast, citing strong AI networking demand — a rare bright spot in an otherwise tech-rattled session.
🟢 AI Infrastructure / Earnings | Cerebras shares jump 17% on upbeat annual forecast, easing AI jitters
Market Impact: Cerebras raised its 2026 revenue forecast and signed Microsoft as a customer, offering a counter-narrative to the Nvidia-driven AI selloff.
🟢 IPO / AI | Anthropic's IPO is about six times oversubscribed
Market Impact: Massive demand for Anthropic's upcoming IPO signals that institutional appetite for frontier AI exposure remains robust despite the Nvidia turbulence.
🟢 M&A / Data Centers | Samsung in talks to buy data center cooling firm Modine; Modine surges 27.2% after-hours
Market Impact: A potential Samsung acquisition of Modine would be a significant bet on data center infrastructure growth. Modine's after-hours spike reflects deal premium expectations.
🟡 SpaceX / Tesla | SpaceX-Tesla merger talks progress; deal could be announced as early as next week
Market Impact: A potential merger between two of Elon Musk's flagship companies would be one of the largest corporate combinations in history, with major implications for Tesla shareholders and the broader EV/space sector.
🟢 SpaceX / AI Infrastructure | SpaceX plans over $74 billion investment in Texas and Arizona AI campuses
Market Impact: A massive commitment to supercomputing infrastructure underscores the scale of AI capital expenditure, regardless of the Nvidia leadership shake-up.
🟢 ByteDance | ByteDance plans $6 billion buyback at $400 billion valuation
Market Impact: The buyback signals management confidence in ByteDance's valuation and could provide liquidity for existing investors ahead of any potential public market event.
🔴 Corteva / Earnings | Corteva stock plunged 18.8% to $9.86, touching a new 52-week low of $9.14
Market Impact: A severe single-session drop for the agricultural giant points to a significant earnings or guidance disappointment — details were not fully specified in available context.
🔴 Korea Electric Power / Earnings | Korea Electric Power stock fell 10.3% to 27,500 won after Q3 2026 results
Market Impact: A double-digit decline following quarterly results signals a material earnings miss or guidance cut from South Korea's dominant utility.
🔴 ADI Global Distribution | ADI Global Distribution stock crashing nearly 47.9% to $10.20
Market Impact: A near-50% single-session collapse is an extreme event, tied to what appears to be a severe company-specific development — though full details were not provided in available context.
🔴 Hancock Whitney | Hancock Whitney fell 10.5% after announcing a definitive agreement
Market Impact: The sharp decline following a deal announcement suggests the market views the terms as unfavorable to Hancock Whitney shareholders.
🔴 Keurig Dr Pepper | Keurig Dr Pepper fell 7.3% to $35.47 after announcing a $2.0 billion transaction
Market Impact: Investors reacted negatively to the deal, raising concerns about capital allocation or strategic fit.
🔴 Microsoft / Outage | Microsoft says still attempting to fix major outage hitting Teams and Outlook
Market Impact: A prolonged outage affecting two of Microsoft's core enterprise products — Teams and Outlook — raises reliability concerns and potential enterprise customer frustration.
🟢 Applied Materials / Earnings | Applied Materials forecasts quarterly revenue above estimates on strong AI chip demand
Market Impact: A beat-and-raise from a key chipmaking equipment supplier reinforces that AI-driven semiconductor capex remains intact despite the Nvidia leadership crisis.
🟡 Prediction Markets / Fintech | Kalshi in talks to raise funds at $65 billion valuation for compute futures platform
Market Impact: The eye-catching valuation for a prediction marketplace reflects surging investor interest in alternative financial infrastructure, though the scale of the raise was not specified.
🔴 AI / Legal | OpenAI, Google, Anthropic hit with lawsuit seeking halt to frontier AI development
Market Impact: A lawsuit targeting the industry's biggest AI players introduces regulatory and legal overhang across the sector at an already volatile moment.
Tickers in Focus
| Ticker | Price / Change | Context |
|---|---|---|
| NVDA | Not specified | CEO Jensen Huang resigned; Colette Kress named interim CEO; PE at 14-year low; retail buyers stepped in |
| CSCO | +4% (after-hours) | Beat Q1 FY2027 earnings; raised full-year revenue forecast on AI networking demand |
| CBRS | +17% (after-hours) | Cerebras raised 2026 revenue forecast; signed Microsoft as customer |
| MOD | +27.2% (after-hours) | Samsung reportedly in talks to acquire Modine Manufacturing |
| MSFT | Not specified | Major Teams and Outlook outage ongoing; signed as Cerebras customer |
| TSLA | Not specified | SpaceX-Tesla merger talks reportedly progressing; deal possible as early as next week |
| AMAT | Not specified | Applied Materials forecast Q1 revenue above estimates on AI chip demand |
| CORTEVA | -18.8% to $9.86 | Plunged to new 52-week low of $9.14 intraday |
| ADI Global | -47.9% to $10.20 | Near-50% crash in afternoon trading |
| Hancock Whitney | -10.5% | Fell after announcing a definitive agreement |
| Keurig Dr Pepper | -7.3% to $35.47 | Fell after announcing a $2.0 billion transaction |
| KEPCO (Korea) | -10.3% to 27,500 KRW | Fell after Q3 2026 results |
| Kumho E&C | +29.9% to 11,210 KRW | Surged to hit Korean daily limit |
| SMIC (HK) | +6.6% to HK$51.95 | China's biggest chipmaker rallied amid domestic chip demand expectations |
| Samsung (KS:005930) | +3.4% to 215,000 KRW | Rose on bargain-hunting and Modine acquisition talks |
| Terumo | -6.2% to ¥2,399.5 | Fell after H1 FY2026 results |
| Amada | +9.1% to ¥2,503 | Surged on blockbuster H1 results |
| Samsonite | +6.5% to HK$15.68 | Rose after nine-month results |
| GrainCorp | +5.3% to A$7.37 | Standout performer on Australian bourse |
| DroneShield | -5.2% to A$1.18 | Hit new 52-week low |
| Aem Holdings | +5.3% to S$7.16 | Rose after Q3 2026 business update |
| Mainfreight | +1.2% to NZ$71.27 | Touched fresh 52-week high of NZ$71.77 |
| LifeMD | -9.4% to $1.50 (AH) | Fell after Q3 results |
| Fluent | +13.8% (AH) | Surged after Q3 2026 financial results |
| NIQ Global Intelligence | -7.8% to $19.41 | Fell in afternoon trading |
| HIVE Digital | -7.0% | Fell on analyst price target reductions |
| Equinox Gold | -3.6% to $14.85 | Extended multi-day pullback |
| Capstone Copper | -5.3% to C$10.89 | Fell after pre-market operational update |
| MDA Space | -4.7% to C$42.08 | Fell on JPMorgan price target cut |
| Air Canada | -3.2% to C$22.67 | Continued fallout from late-October earnings |
| Mobility Global | +14.9% to $22.90 | Surged in afternoon trading |
| Lifeway Foods | -4.3% to $19.99 (AH) | Fell after quarterly results |
| vVARDIS (VVVV) | IPO at $18/share | Swiss dental med-tech priced on NYSE |
| Windward Bio (WWB) | IPO at $17/share | Clinical-stage biotech priced on Nasdaq |
| Hygon Information | -0.04% to 202.28 CNY | Reversed strong open amid chip curb fears |
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