UBS Asia Market Executive Resigns, Continues to Push Cost Reduction

Morgan Stanley noted that while Corning Optical Communications' revenue is accelerating, its profit margins are under pressure due to losses in the solar sector and increased compensation costs. The target price has been lowered to $155, emphasizing that 2027 will be the key period for valuation recovery.

Two Federal Reserve members advocate for interest rate hikes, causing the 10-year U.S. Treasury yield to surpass 5%. GOOGL's free cash flow remains negative for two consecutive quarters due to AI investments, plunging nearly 10% after hours. Microsoft rises against the trend, while the software sector tumbles. The crypto DAT sector faces an asset withdrawal crisis, and geopolitical risks drive oil prices higher.

SoFi’s Q3 net revenue increased by 44% year-on-year, with net profit reaching $241 million. The lending segment contributed over $300 million in incremental revenue. Due to the loss of major clients, revenue from the technology platform dropped by 24%. Crypto business transaction volume exceeded $160 million, with net income of only $1.63 million, accounting for 0.12% of net revenue.