Disney Buys Up Hulu; Novo Nordisk Delivers; SK Hynix Boosted by AI

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Disney Takes All of Hulu

Disney [DIS] has begun the process of buying out Comcast’s [CMCSA] stake in streaming service Hulu. This will give Disney full ownership, as well as the option of integrating Hulu into its own Disney+ service. The company said it expects to pay $8.6bn for Comcast-parent NBCUniversal’s (NBCU) 33% share. NBCU initially agreed to sell its stake back in 2019.

Novo Nordisk Delivers

Europe’s most valuable company, Novo Nordisk [NOVO-B.CO], on Thursday delivered a barnstorming set of results — a high point in what many agree has been a rather lukewarm earnings season. Propelled by the success of its obesity/diabetes drugs Wegovy and Ozempic, revenue was up 38% to Kr58.7bn, while operating profit rose 47%. Some 95% of Wegovy sales are in the US.

Tesla Chargers Look Set to Dominate

Tesla [TSLA] superchargers are on the way to becoming the industry standard, as more car brands sign up to access its electric vehicle (EV) charging infrastructure across the US. Tesla delivered 72,115 China-made EVs in October, according to the China Passenger Car Association, down 2.6% from September. BYD [002594.SZ] delivered 301,095 cars in October, followed by Auto [LI] (40,422) and XPeng [9868.HK] (20,002).

SK Hynix Rides the AI Wave

South Korea’s SK Hynix [000660.KS] is set to regain its spot as the second-largest stock in the country, overtaking LG Energy [373220.KS]. The chipmaker’s market value rose to ₩90.8trn Thursday morning. It is a major supplier of high-bandwidth memory to Nvidia [NVDA]; its share price has jumped 66% year-to-date. Tesla- supplier LG Energy, by contrast, has dropped 12%, pulled down by negative outlook on EV demand.

DoorDash Does Decently

Boosted by an increase in delivery orders, DoorDash [DASH] topped revenue expectations and forecast above-estimate fourth-quarter adjusted EBITDA of between $320m and $380m, compared with analysts’ estimated $253.3m, reported Reuters. Ahead of Shopify’s [SHOP] earnings call, analysts are expecting it to show year-over-year revenue growth of 22.4% to $1.7bn, according to estimates from LSEG.