CNBC Television
Opening Bell: November 6, 2025
11/6/2025, 2:58:51 PM
Economic Summary
- Biotech and molecular diagnostics companies are celebrating Nasdaq IPOs (e.g., EVA MUNI), indicating ongoing investor interest in biotech IPO activity and potential funding for development-stage firms.
- Conversation favors smaller, boutique investment banks — Lazard (LAZ), Evercore (EVR), PJT (PJT), Moelis (MC) — as tradeable 'plays' relative to large banks like Goldman Sachs (GS) and Morgan Stanley (MS), implying a shift of focus toward deal-advisory specialists.
Bullish
- Boutique investment banks (Lazard, Evercore, PJT, Moelis) highlighted as attractive 'plays' versus big banks.
- Biotech/molecular diagnostics IPOs (e.g., Eva Muni) drawing attention, signaling investor appetite for sector IPOs.
Bearish
- Big banks like Goldman Sachs and Morgan Stanley showing little movement or investor interest.
- Boutique advisor stocks could suffer if M&A and deal activity slow down.
Bullish tickers
LAZEVRPJTMCEVA MUNI
Bearish tickers
GSMS
GS
Bullish
Large, established investment bank with broad franchise, but not highlighted as a 'play' in this discussion.
Bearish
Not much movement and not being favored compared to boutique advisory firms.
MS
Bullish
Major global bank with diversified revenue streams, though not the focus here.
Bearish
Seen as sidelined relative to smaller boutiques and showing little investor interest in the conversation.
LAZ
Bullish
Called out as a smaller advisory 'play' versus big banks.
Bearish
Exposure to M&A slowdown could hurt performance.
EVR
Bullish
Highlighted as one of the boutique firms investors are watching as a play.
Bearish
Dependent on deal activity; may underperform if M&A wanes.
PJT
Bullish
Noted specifically as a boutique play and associated with Paul Taubman.
Bearish
Could be overlooked or subject to name confusion despite being a boutique adviser.
MC
Bullish
Mentioned among smaller advisory firms that are considered attractive plays.
Bearish
Sensitive to fluctuations in advisory deal flow.
EVA MUNI
Bullish
Biotech targeting chronic inflammatory diseases and celebrating a Nasdaq IPO, reflecting investor interest in the space.
Bearish
Early-stage biotech risk with binary clinical and regulatory outcomes.
People mentioned
Eva MuniPaul TaubmanDonald Trump