Cramer's 10 market moves to watch Wednesday

Election as clearing event

The midterm elections may have cleared the way for a market rally. The Dow is heading for a sharply higher open and the Nasdaq is poised for a modest open after futures showed strength overnight.

AI buildout under pressure

The Democratic sweep embodied voter frustrations over the proliferation of data centers. This could slow the buildout, which might actually benefit well-entrenched companies like Microsoft and Amazon.

AMD crushes Intel in servers

Advanced Micro Devices delivered a stunning quarter with dramatic gains and a crushing of Intel in servers. CEO Lisa Su expects PC shipments to be down double digits next year.

“expects shipments to be down double digits next year”

Memory prices hit PC demand

Exorbitant memory prices are destroying demand in PCs.This could free up memory supply and help Apple.Bernstein raised its price target on the iPhone maker to three hundred eighty dollars from three hundred seventy dollars.

Arista beats on data center demand

Arista Networks turned in a blowout quarter with shares up more than five percent. Third-quarter revenue, operating margin and EPS all beat, and fourth-quarter guidance was well above consensus.

Qnity beats on semiconductor demand

Qnity Electronics, the DuPont spin-off, delivered a strong beat and raise. Organic revenue growth of twenty-two percent was driven by strength in advanced nodes, thermal management, advanced packaging and AI printed circuit boards.

CVS splits into two companies

CVS Health is breaking itself up into two pieces.CEO David Joyner said this is coming from a position of strength.Insurer Aetna and pharmacy benefit manager Caremark are now free to go their own way.

“from a position of strength”

Novo's GLP-1 pill crushes estimates

Novo is up six percent after the Danish drugmaker boosted its full-year sales and operating profit guide. The Wegovy pill crushed estimates in an impressive launch after losing ground to Eli Lilly in injectables.