Major averages mixed on Friday to cap big week of large gains Equity futures were lower in early morning trading, but trimmed losses after the solid employment report. On the election front, multiple media outlets are reporting that Joe Biden is now seen in the lead in the ongoing election count in Pennsylvania, which would give him a win in the presidential election if the state goes his way. While the major averages finished mixed for Friday, they all had strong weekly gains. ECONOMIC EVENTS: In the U.S., nonfarm payrolls increased 638,000 in October while the unemployment rate fell to 6.9% from 7.9% in the prior month. Wholesale inventories rose 0.4% in September and sales edged up 0.1%. In energy news, Baker Hughes reported that the U.S. rig count is up 4 from last week to 300 with oil rigs up 5 to 226. TOP NEWS: Shares of Uber ($UBER) rose almost 7% after the company's earnings report last night prompted several price target hikes this morning. Among those on Wall Street raising their targets, Goldman Sachs analyst Heath Terry noted that Uber continues to expect adjusted EBITDA profitability during 2021 and now also expects its Delivery business to reach profitability in 2021. T-Mobile ($TMUS) shares were 5.4% higher after what Truist analyst Greg Miller called "solid" Q3 results that showed "strong" subscriber trends. After reporting 2.035M total net additions in the quarter, T-Mobile CEO Mike Sievert said "with over 100 million wireless customers and America's largest 5G network, there is no doubt that we're the growth leader in wireless." Square ($SQ) shares jumped 12.8% following a "conviction quarter" that prompted Citi analyst Peter Christiansen to upgrade the stock to Buy from Neutral with a price target of $215, up from $185. Square's secular growth opportunity is now "too big to ignore," Christiansen tells investors. Analysts at Canaccord, Raymond James, Oppenheimer, Roth Capital, and Goldman Sachs were among those who raised their Peloton ($PTON) price targets following the company's fiscal Q1 results. The shares of the fitness products and services company fell fractionally after last night's report. In addition to reporting better than expected Q3 sales and earnings and raising its FY20 outlook, CVS Health ($CVS) announced that its board appointed Karen Lynch, currently executive VP, CVS Health and president, Aetna, as the company's next president and CEO. Lynch, who will also join the company's board, will take over for Larry Merlo, who had served as president and CEO for a decade. Meanwhile, AT&T ($T) was in focus after its board named William E. Kennard to serve as its chairman, effective January 2021. Kennard served as general counsel to the U.S. Federal Communications Commission from 1993 to 1997, the company noted. Take-Two ($TTWO) shares gained 3.9% after the game maker reported upbeat quarterly results and confirmed that it has made a cash and stock proposal to acquire U.K.-based video game maker Codemasters at a price of 485 GBp per share, comprising 120 GBp per share in cash and 365 GBp per share payable in Take-Two stock. MAJOR MOVERS: Among the noteworthy gainers was Humanigen ($HGEN), which rose 4.6% after announcing that the company and the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense have entered into a cooperative research and development agreement in collaboration with BARDA in support of Operation Warp Speed to assist in the development of lenzilumab in advance of a potential Emergency Use Authorization for COVID-19. Also higher were GoPro ($GPRO), Glu Mobile ($GLUU), and Yelp ($YELP), which gained after reporting quarterly results. Among the notable losers was Electronic Arts ($EA), which declined 7.1% after it reported lower than expected net bookings for the second quarter, provided third quarter guidance, and raised its fiscal 2021 earnings per share guidance. Also lower after reporting quarterly results were Groupon ($GRPN), Global Blood Therapeutics ($GBT), and TrueCar ($TRUE). Nasdaq Composite +32.6% YTDS&P 500 +8.6% YTDDow Jones Industrial Average -0.8% YTDRussell 2000 -1.5% YTDMarket SnapshotDow28323.34-66.78(-0.24%)Nasdaq11895.16+4.30(0.04%)SP 5003509.58-1.01(-0.03%)10-yr Note -5/320.821NYSEAdv 1147 Dec 1864 Vol 926.3 mlnNasdaqAdv 1337 Dec 2126 Vol 4.1 blnIndustry WatchStrong: Consumer Staples, Information Technology, Health CareWeak: Energy, Financials, Real EstateMoving the Market-- Flat day after four-day rally -- October employment report was better than expected-- Weakness in the energy sector Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. 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