WTO Overview

Upcoming Stock Splits: The week of November 17 to November 21 will see several stock splits, including a 10-for-1 forward split by Netflix and various reverse splits by companies like EPWK Holdings, SMX, Actelis Networks, and UTime to comply with Nasdaq requirements.

Purpose of Stock Splits: Stock splits increase the number of outstanding shares while maintaining market value, making shares more accessible to investors, while reverse splits reduce share count to raise prices and meet exchange standards.

Netflix's Stock Split: Netflix's 10-for-1 forward stock split aims to make its shares more accessible for employees in its stock-option program, effective November 17.

Reverse Splits by Other Companies: Companies like EPWK, SMX, Actelis Networks, and UTime are implementing reverse splits to increase their share prices and comply with Nasdaq's minimum bid-price requirements, with effective dates ranging from November 17 to November 21.

Market Performance: U.S. stocks opened lower, with the Dow down 1.21%, Nasdaq falling 1.51%, and S&P 500 decreasing by 1.17%. European and Asian markets also experienced declines.

Sector Movements: Real estate shares rose by 0.3%, while information technology stocks fell by 1.2%. Notable stock movements included Cidara Therapeutics surging 106% after a Merck acquisition announcement.

Company Earnings: Applied Materials reported better-than-expected fourth-quarter results and projected first-quarter revenue above estimates, while several companies, including Gauzy Ltd and enVVeno Medical Corp, faced significant stock declines.

Commodity Updates: Oil prices increased by 1.9% to $59.82, while gold and silver prices fell by 3.4% and 5%, respectively. Economic data on oil rig counts is expected to be released today.