U.S. stock futures were edging higher ahead of Monday’s session after the three major indexes closed last week lower amid rising concerns about a potential AI bubble. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.39%, 0.27%, and 0.31%, respectively, at 12:24 a.m. EDT on September 29.

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Major technology and AI stocks fell last week after Federal Reserve Chair Jerome Powell warned about stretched equity valuations, sparking global concerns. Wall Street also remains wary about the “circular nature” of certain AI-related deals, such as Nvidia’s NVDA +0.28% ▲ $100 billion partnership with OpenAI.

Despite these worries, U.S. indexes ended higher on Friday after August’s Personal Consumption Expenditures (PCE) came in line with expectations, rising 0.3% month-over-month and 2.7% year-over-year. Moreover, the Bureau of Economic Analysis announced that consumer spending ticked higher by 0.6% month-over-month in August, ahead of the estimate for a 0.5% rise.

Meanwhile, for the week, all three major indexes finished lower. The S&P 500 slipped 0.3% last week, marking its steepest decline since August 1 and leaving it 0.8% below its record high. The Nasdaq fell 0.7%, its sharpest drop since early August, while the Dow dipped 0.2%, snapping a three-week winning streak.

Looking ahead, investor focus will shift to the release of September’s non-farm payrolls and unemployment rate reports, due on Friday. Both reports represent the number of new jobs created during the previous month, along with the percentage of people actively seeking employment.

With second-quarter earnings season largely over, several notable companies are still set to report this week. The companies in focus are Jefferies JEF +1.18% ▲ , Carnival CCL +0.46% ▲ , Nike NKE +0.10% ▲ , Conagra Brands CAG +0.55% ▲ , Delta Air Lines DAL +0.81% ▲ , PepsiCo PEP +0.37% ▲ , and Levi Strauss LEVI +0.92% ▲ .

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Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made some notable portfolio adjustments on Friday, September 26, according to daily fund disclosures. The ace hedge fund manager bought shares of Kodiak AI KDK -6.67% ▼ , which went public on September 25, and biotechnology company Intellia Therapeutics NTLA -1.81% ▼ . Meanwhile, the ARK ETFs offloaded shares of Kratos Defense & Security Solutions KTOS +2.47% ▲ and online gaming platform Roblox RBLX +2.29% ▲ .

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Wood Buys KDK and NTLA Stocks

On Friday, the ARK Autonomous Technology & Robotics ETF ARKQ +0.76% ▲ bought 784,610 shares, valued at $416,627, of autonomous driving technology provider Kodiak AI. Notably, KDK began trading on Nasdaq on Thursday following its merger with special-purpose acquisition company (SPAC) Ares Acquisition Corp. II AACT +6.87% ▲ , an affiliate of Ares Management ARES -0.17% ▼ , in a deal that valued the startup at about $2.5 billion.

Meanwhile, the ARK Innovation ETF ARKK +1.80% ▲ and the ARK Genomic Revolution ETF ARKG +0.90% ▲ purchased 120,318 and 17,378 shares, respectively, of Intellia Therapeutics. Overall, the two ETFs bought a total of 137,696 NTLA shares, totaling $2.29 million. Wood has been increasing exposure to several stocks in the biotechnology space.

Currently, Wall Street has a Strong Buy consensus rating on Intellia Therapeutics stock based on 16 Buys and two Holds. The average NTLA stock price target of $31.73 indicates a 94.5% upside potential. NTLA stock has risen 40% year-to-date.

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ARK ETFs Sell RBLX and KTOS Shares

The most notable transaction of the day was the sale of 70,874 shares, valued at $5.97 million, of defense contractor Kratos Defense and Security Solutions by the ARKQ ETF. KTOS stock has rallied 227% year-to-date.

Furthermore, the ARKK ETF continued to trim its stake in Roblox. On Friday, the ARKK ETF sold 27,906 RBLX shares, valued at $3.68 million. RBLX stock has risen more than 133% year-to-date.

While Wood sold KTOS and RBLX shares, Wall Street has a Strong Buy consensus rating on Kratos Defense and Security Solutions stock and a Moderate Buy consensus rating on Roblox stock. Following the impressive year-to-date rally, the average KTOS stock price target of $73.15 indicates a possible downside of 15.2%. Meanwhile, the average RBLX stock price target of $149.04 implies a 10.4% upside potential.

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Next week marks an important deadline for Novo Nordisk NVO -0.77% ▼ investors. After seeing the pharma company’s strong run since 2021, now fading, the latest factor to add to the sentiment slump is a class-action lawsuit in the U.S. Those who held the stock between May and July this year have the opportunity to join a bandwagon in search of financial reparations.

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In the meantime, NVO stock was down more than 10% last week and is 34% lower year-to-date. NVO shareholders could be forgiven for feeling like the walls are closing in.

In addition, fresh reports point to looming legal action tied to Ozempic, Novo Nordisk’s blockbuster semaglutide drug approved for type 2 diabetes. Emerging studies suggest that higher doses can cause gastroparesis, a severe digestive condition. Several U.S. law firms allege that, until recently, Ozempic’s warning label failed to fully inform patients and physicians of these risks—potentially opening the door for injured users to seek financial compensation.

Clearly, some NVO shareholders will be reaching the end of their tether and must be wondering how they’ve ended up in a siege scenario in the blink of an eye. NVO’s annual report said 2024 was “a year of significant growth characterised by continued innovations.”

Historical Precedent Favors NVO

By Tuesday, shareholders must decide whether to petition the court for lead plaintiff status in a class-action lawsuit against NVO alleging fraud. While such deadlines often pass quietly, the broader implications are worth unpacking—both for Novo Nordisk and for its global shareholder base.

Securities fraud class actions are not uncommon, particularly against high-profile pharmaceutical and biotech firms. Precedent suggests that these cases can take years to resolve, with motions to dismiss, class certification battles, discovery, and appeals often stretching across three to five years or more. Importantly, the largest class action settlements in U.S. securities law, such as Enron, WorldCom, and Tyco, dwarf biotech-only cases. Biotech tends to produce smaller dollar settlements, but on the flip side, they generate much higher reputational risk.

A case in point is Valeant Pharmaceuticals in 2021 – the suit was settled for $1.2 billion after affected investors claimed Valeant had made misleading financial disclosures, inflated pricing, and business model risks. The case became the 9th-largest securities class action settlement in corporate history and the largest to be reached against a pharmaceutical manufacturer.

Another case is Puma Biotechnology PBYI +2.98% ▲ in 2019, where plaintiffs alleged that Puma’s CEO falsely overstated the efficacy of its drug neratinib (later marketed as Nerlynx). The jury sided with the plaintiffs, concluding that the misrepresentation inflated the company’s stock price. Both cases took over three years to settle, so a similar timeframe is likely expected for NVO.

NVO’s Stretched Timeline

In its Review and Analysis report published last year, Cornerstone Research stated that the median time to settlement for securities class actions has recently been ~3.2–3.4 years. In comparison, some studies place the global average closer to ~45 months (or 3.8 years).

Assuming NVO’s case tracks the median line, a realistic timeline could be the following, according to Cornerstone Research:

• Late 2025 – mid 2026: Lead-plaintiff appointment; motion to dismiss briefing and ruling.
• 2026 – 2027: Class certification briefing and fact/expert discovery (often the longest phase).
• Late 2027 – 2028: Summary judgment; many cases settle around or after these rulings.
• If no settlement: Trial could be 2029+, with appeals adding 1–2 years beyond that.

According to last month’s filing, a settlement-track resolution may be reached sometime in 2028–2029; a full trial/appeal path could push it into 2030 or later, depending on motions and appeals.

That timeline cuts both ways for investors. On the one hand, long legal horizons tend to soften immediate market sentiment. On the other hand, the mere existence of litigation generates negative publicity, creates a distraction for management, and piles on legal costs.

For current shareholders, the decision to participate carries an awkward paradox. If they join the case and eventually prevail, any damages awarded would be paid out of Novo Nordisk’s own coffers—the same source of future dividends, buybacks, and capital appreciation. Suing the company you own is, in effect, a version of biting the hand that feeds you.

The Dilemma Facing NVO Shareholders

The takeaway for current investors is mixed. Novo Nordisk remains a global leader in diabetes and obesity care, expanding its reach and pipeline. Yet the class action highlights the risks associated with heightened expectations and the pressure on management to deliver consistent U.S. growth. Even if the lawsuit takes years to resolve, the reputational costs are immediate. In the meantime, NVO shareholders face a significant decision, as new NVO investors are scarce due to the cloud of uncertainty now surrounding the company. The stock’s rapid decline waits for no one.

Yet the broader picture shows a company both surging ahead and stumbling at the same time. Given the confluence of factors, it seems that NVO stock may be too good to sell and too bad to buy — leaving shareholders trapped in a bind where every choice seems like the wrong one.

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The stock of cryptocurrency miner Riot Platforms RIOT +5.68% ▲ has received multiple upgrades on Wall Street.

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Analysts at JPMorgan Chase JPM +0.83% ▲ and Citigroup C +1.28% ▲ have each raised their ratings and price targets on RIOT stock, citing changing industry economics and a shift toward high-performance computing at the company, which specializes in Bitcoin BTC -0.17% ▼ mining.

JPMorgan Chase lifted its rating on Riot to a Buy-equivalent overweight from neutral and raised its price target to $19 from $15, calling it the most attractive investment option among cryptocurrency miners. Citigroup raised its rating on the stock to Buy from a Hold-equivalent neutral and lifted its price target to $24 from $13.75.

AI Impacts

In their assessments of RIOT stock, both JPMorgan and Citigroup highlighted Riot Platforms’ pivot to artificial intelligence (AI) and cloud-computing services as providing potential future catalysts and growth drivers. Those are important as mining profitability tightens, said the banks.

Along with its upgrade of RIOT stock, JPMorgan Chase downgraded rival crypto miner IREN IREN -9.57% ▼ to a Sell-equivalent underweight rating, and took the stock of CleanSpark CLSK -5.26% ▼ down to a neutral rating from Buy previously. JPMorgan said it was reevaluating the entire crypto mining sector.

Is Bitcoin a Buy?

Most analysts don’t offer ratings or price targets on Bitcoin. So instead, we’ll look at the three-month performance of BTC. As one can see in the chart below, the price of Bitcoin has risen 5.02% in the last 12 weeks.

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Warner Bros. Discovery WBD -1.37% ▼ has become the first studio in 2025 to cross $4 billion at the worldwide box office. The figure marks its strongest year since 2019, showing how the studio has regained strength despite fewer releases. In fact, the company reached this milestone with only 11 films, compared with 20 titles when it last passed $4 billion six years ago.

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The studio earned $1.795 billion in the U.S. and another $2.2 billion from overseas markets. Altogether, that gave it a market share of 28.06% as of mid-September. No other studio has reached that level this year, though Walt Disney DIS +0.42% ▲ is on track to hit the same mark later in the year. Meanwhile, WBD shares have reflected the production company’s success with an 84% rise year-to-date.

Box Office Leaders

The growth was built on seven films that all opened above $40 million at the domestic box office. The run started with Minecraft Movie, which opened with $162.8 million and ultimately grossed $957.8 million worldwide. Other hits included Ryan Coogler’s Sinners with $366.6 million, Final Destination: Bloodlines with $313 million, and F1: The Movie with $624.3 million. James Gunn’s Superman earned $615.3 million, while horror titles like Weapons and The Conjuring: Last Rites added $263.9 million and $403.2 million.

Altogether, nine of the studio’s 11 titles opened at number one. This helped Warner Bros. dominate the box office charts for 15 weekends both in the U.S. and abroad.

Awards Season in Focus

On the same day the studio surpassed $4 billion, it also released Paul Thomas Anderson’s One Battle After Another starring Leonardo DiCaprio. The drama cost $130 million to produce and earned $3.1 million in Thursday previews. It is expected to open between $20 million and $25 million this weekend. While that is below the studio’s recent streak of $40 million openings, the title is aimed at awards season rather than at blockbuster results.

With this mix of commercial success and critical focus, Warner Bros. Discovery has set itself apart in a year when the overall summer box office fell short of $4 billion for only the second time since the pandemic. The company now enters the final stretch of 2025 as the most successful distributor so far.

Is WBD Stock a Buy?

On the Street, Warner Bros. Discovery holds a Moderate Buy consensus rating, based on the opinions of 13 analysts. The average WBD stock price target stands at $14.55, implying a 25.42% downside from the current price.

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The White House has set research priorities for fiscal year 2027, and artificial intelligence and quantum science lead the list. The plan comes from the Office of Management and Budget and the Office of Science and Technology Policy. It directs federal agencies to move more funding into what are called critical and emerging technologies.

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In practice, that means a strong push in two directions. First, agencies will keep supporting basic science. Second, they will add more investment in applied projects that can reach the market. For quantum science, the focus is on test facilities, shared infrastructure, and advanced manufacturing of devices. For AI, the plan calls for new computer designs, stronger safeguards against manipulation, and tools that make systems easier to explain and control.

Links to Industry and Markets

Because these technologies depend on chips, networks, and advanced manufacturing, the policy also connects research to the U.S. strength in semiconductors. That means companies like Taiwan Semiconductor Manufacturing Company TSM -1.19% ▼ , Intel INTC +4.44% ▲ , Advanced Micro Devices AMD -1.12% ▼ , and Nvidia NVDA +0.28% ▲ stand to gain from federal backing. Each of them plays a role in building processors for AI training and for future quantum devices.

The plan also signals support for networks that utilize 5G and 6G, as well as for faster data systems. That could benefit firms like Qualcomm QCOM -0.28% ▼ , which leads in wireless chips. Moreover, the policy encourages research on exascale computers and edge devices, which ties in with companies like Hewlett Packard Enterprise HPE -0.87% ▼ and Dell Technologies DELL -0.15% ▼ .

Also standing to benefit are quantum computing companies already working with the government or taking part in the DARPA initiative. This includes companies such as IonQ IONQ -3.10% ▼ and D-Wave QBTS +1.59% ▲ , as well as private companies like PsiQuantum, which is backed by Nvidia, and Quantinuum, a subsidiary of Honeywell HON +0.24% ▲ .

Broader Scope and Next Steps

Beyond technology alone, the memorandum ties research goals to national security, energy, health, and space. For example, agencies are told to prepare for post-quantum cryptography, bring new nuclear projects, and fund space exploration. At the same time, they are told to expand workforce training in science and guard against foreign access to federally funded research.

The government also points to “Gold Standard Science” as the model for future projects. That means studies should be reproducible, free from conflicts, and open to peer review. The aim is to support growth and protect sensitive research while still allowing wide collaboration.

As a result, investors can see a clear signal that Washington views AI and quantum as drivers of U.S. leadership in the years ahead. The plan is broad, and its effect will depend on how budgets match the stated goals, yet the focus on chips, networks, and applied tools highlights the role of publicly traded firms across the sector.

Using the TipRanks Comparison Tool, we’ve gathered all the AI and Quantum computing stocks appearing in the piece. It’s a great way to gain a broader perspective on each stock and the industry as a whole.

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