Earnings, Bears, and Index Clocks Dominate Friday

Heavy Earnings Day

Friday brings one of the week's busiest reporting slates. Moderna posts Q3 results with the stock up 776% year to date. Analysts now see 46% average downside. Its RSI sits at 68. ORTEX's Index Rebalance Radar forecasts an 88% probability that MRNA joins the MSCI World in the November review. That would force an estimated $6.9B of buying into the stock. Humana, EOG Resources, Devon Energy, and Vistra Corp also report today, keeping energy and healthcare in focus.

Short Sellers Press EVs and Chips

Bears are adding to positions in already-distressed names. Wolfspeed sits at 87.5% short interest as a percentage of free float, up 6 percentage points over 30 days. Lucid Group reached 66% of free float, up 7 points. Hertz carries a cost to borrow of 317% APR with 73.5% short interest. Options flow in chips names including AMD and Intel is tilting bearish, while Humana and healthcare draws bullish call flows ahead of prints.

Index Radar: MSCI Decision in Three Days

The MSCI World November review announces on 11 November. About seven deletions are expected from twelve names still in play. Flutter Entertainment carries a 78% deletion probability, with $734M of estimated forced selling worth 3.1 days of normal volume. Textron sits at 79% deletion probability. In Italy, CVC Capital's tender for Recordati carries a 93% completion probability. ORTEX forecasts a 65% chance Recordati leaves the FTSE MIB, with the index announcement expected today.

Europe: Hybrids Stall, Inflation Rises

European plug-in hybrid registrations fell to 5,427 vehicles in October 2026, the weakest October in six years. That is well below the previous low of 7,167 set in October 2023. ORTEX Alt Data shows leading indicators for Honda Motor, which reports today, point to Japanese car sales running 10% below the same quarter last year. Italy's annual HICP inflation rose to 5.6% in October, the highest October reading in three years.