MORNING NEWS

President Trump said Nvidia CEO Jensen Huang told him he didn’t know that an industry executive with whom Huang had an intimate relationship was suspected of working for Chinese intelligence. “I asked him about that, and he said he had absolutely no idea that the person in question was a spy,” Trump told reporters Monday at the White House. Trump defended Huang, calling him an “amazing guy” and an “honorable man.”

Moderna returned to profitability in the recent quarter and lifted its full-year revenue forecast, defying Wall Street expectations of continued losses as international demand for its Covid-19 shots stabilized. The biopharmaceutical company on Friday reported a third-quarter profit of $162 million, compared with a loss of $200 million a year earlier. Quarterly earnings came out to 38 cents a share. Analysts polled by FactSet had expected a loss of $1.10 a share.

Airbnb ABNB raised its outlook for the year as the company has avoided the slowdown in travel demand being experienced by some of its competitors. The short-term rental company said it now expects annual revenue to increase by a high-teens percentage, up from its prior guidance of mid-teens percentage growth.For the fourth quarter, Airbnb expects revenue of $3.22 billion to $3.28 billion, which would be ahead of the $3.16 billion that analysts are projecting.

The reinsurer Swiss Re increased its profit in the first nine months of the year. Consolidated net income from January through September 2026 totaled $4.17 billion, representing a 3 percent increase compared with the previous year. The group’s insurance premium income, however, declined by 3 percent to $31.2 billion.

Democrats delivered a blue shellacking in Tuesday’s midterm elections, reclaiming control of the Senate and putting the party on pace to recapture the House, as voters voiced their discontent over President Trump and prepared to usher in a new era of divided government during his final two years in office.

Apple saved the bad news for its earnings call, an hour after it posted its results for the September quarter, projecting that for the current quarter its high-margin services business will continue to slow and that its widely watched gross profit margin will continue to fall.

S-Oil reported a nearly 23-fold increase in third-quarter net profit, driven by higher energy prices and wider refining margins amid uncertainty surrounding the prolonged Middle East conflict. The Saudi Aramco-controlled South Korean oil refiner said Monday that refining margins stayed firm in the July-September period, supported by tight supply due to the protracted Iran war.

Intel INTC shares plunged more than 20% in after-hours trading on Thursday after the company reported disappointing third-quarter results and forecasted a prolonged slowdown in personal-computer sales. Much of the pressure on the PC segment is coming from the persistently high price of memory chips, and the company expects that pressure to remain in 2028.

Samsung Electronics reported its fourth consecutive quarter of record earnings as its core semiconductor business continued to ride the AI-driven demand wave, though the results fell short of lofty expectations amid growing calls for higher shareholder returns.

South Korean memory chip giant SK Hynix plans to distribute a total of $75 billion to its shareholders this year. The company is benefiting massively from booming demand for hardware used in artificial intelligence (AI) applications. The world’s second-largest memory chip manufacturer reported another blockbuster set of results on Wednesday.