Premarket News

Commentary from Magnificent Seven this week focused on striking the balance between continued AI investment and the growing demands on cash flow, financing and infrastructure capacity.

Analysts cited weaker PC demand, manufacturing constraints and delayed supply improvements in cutting their price targets and downgrading INTC shares after Intel’s third-quarter results.

TD Cowen maintained its ‘Buy’ rating despite trimming its price target, while Mizuho flagged softer AWS performance, higher investment and negative free cash flow, even as it remained positive on the cloud unit's two-year outlook.

Regeneron reported a 36% surge in Q3 revenue to $5.12 billion, well above Wall Street estimates of $4.56 billion, according to Fiscal.ai

Disappointing Big Tech earnings, rising AI financing costs and semiconductor weakness have weighed on the index despite continued optimism about AI demand.

AstraZeneca reported a 7% increase in Q3 revenue to $16.21 billion, beating Wall Street estimates of about $16 billion, according to Fiscal.ai.

HSBC raised its price target to $1,100 from $1,040 and said GE Vernova’s wind division “looks largely derisked,” according to The Fly.

Investors weigh mounting concerns over Big Tech spending, rising crude prices, and a mixed batch of corporate earnings on the final trading day of October.

Intel flagged that the PC market would decline 12% in 2026 and 10% next year.

Morningstar expects prices to cool down after memory producers’ new factories come online.

This week's analyst moves highlighted select technology and e-commerce companies gaining confidence while solar, search advertising and appliance businesses faced growing investor concerns.

The company reported third-quarter adjusted earnings of $7.20 per share, up from $4.95 a year earlier and above analysts’ estimate of $7.03, according to Fiscal.ai.

Lilly raised its full-year revenue forecast to $91-92 billion, compared with its previous outlook of $85-87 billion.

Wells Fargo upgraded eBay to ‘Equal Weight’ from ‘Underweight’ and raised its price target to $106 from $91.

Howmet Aerospace projects 12% revenue growth in 2027, supported by strong commercial aerospace demand and accelerating gas turbine sales.

Microsoft reported Q1 revenue of $92.28 billion, ahead of Wall Street estimates of $90.61 billion.

Retail sentiment for GOOGL shifted to ‘extremely bullish’ from ‘bullish.’

Analyst Tim Farrar said SpaceX could announce an acquisition of EchoStar’s remaining business as soon as next week.

GE Vernova lifted its full-year revenue, adjusted EBITDA margin, and free cash flow forecasts as orders surged 96% organically and backlog reached $197 billion.

Retatrutide helped patients with type 2 diabetes lose an average of 44 to 47 pounds over 80 weeks, compared with about 21 pounds for Ozempic.

PayPal received mixed analyst updates following its Q3 results, with Clear Street raising its price target and estimates, citing expense control, while Citi lowered its price target, citing the company's fundamentals and outlook.

Vertiv's third-quarter adjusted earnings topped Wall Street expectations by 21%, supported by stronger profitability and cash generation.

SpaceX had noted earlier that it expects to conduct 10,000 launches annually but warned that the FAA’s outdated air traffic control systems could limit growth

Investors await the Federal Reserve’s interest rate decision and major technology earnings as U.S. stock futures trade mixed and oil prices rise on Middle East tensions.

Morningstar favors PepsiCo’s recovery potential, citing its cheaper valuation.

Investors will focus on the performance of Microsoft’s Azure cloud unit and any updates around its spending plan.

Innes also warned that extraordinary margins will attract new capacity, potentially weakening pricing power as Samsung and Micron expand.

NXP Semiconductors forecast quarterly operating profit below expectations, overshadowing a strong showing in Q3.

Corning's generative AI product sales more than doubled in the fiscal third quarter, while management reiterated its goal of reaching a $40 billion annualized sales run rate by 2030.

UPS reported adjusted EPS of $1.69 on consolidated revenue of $22.9 billion, beating analyst estimates of $1.62 per share and $22.27 billion, respectively.

Anthropic’s IPO filing detailed its extensive relationship with Broadcom, including a five-year equipment lease agreement involving approximately $125.2 billion in payments, excluding interest.

BofA estimates SpaceX could spend about $6 billion on radio access network equipment.

CoreWeave has brought most of its planned 22.5 megawatts of computing capacity online in Denmark, with a global AI network rollout targeted for completion by mid-2027.

Investors are preparing for a busy trading session, with a fresh batch of corporate earnings and the start of the Federal Reserve’s two-day policy meeting.

Bank of America and Morgan Stanley raised their price targets on STX ahead of the results.

The Federal Trade Commission has alleged Dollar General of widespread pricing errors.

Analysts see up to 18% upside for Datadog ahead of third-quarter earnings.

A U.S. judge ordered the government to stop enforcing a ban on the Pentagon doing business with any company that engages in “lobbying activities” for Alibaba.

The company cited an AI infrastructure ‘supercycle’ and stronger customer demand for 2028.

ImmunityBio expects November results from a 366-patient Anktiva trial and plans a fourth-quarter FDA filing.

Barclays upgraded Tesla to ‘Overweight’ and raised the price target, citing potential premium for Tesla shareholders due to the expected merger.

Though EPS beat estimates and subscriber growth accelerated, quarterly revenue fell short of Wall Street expectations.

Meta on Monday launched around $35 billion in concurrent stock offerings to help finance its AI infrastructure and personal superintelligence investments.

Elbit’s new contract will also supply head-up display (HUD) systems with high-resolution displays, enhanced video capabilities, and low power consumption for day and night operations across airborne platforms.

Microsoft and Alphabet report earnings Wednesday, followed by Amazon on Thursday, with investors watching for fresh clues on the AI trade.

Investors will scrutinize cloud growth, AI spending plans and chip demand, as the market enters the thick of the earnings season.

Redwire targets rising defense demand with over 300 Penguin aircraft delivered to Ukraine, and $13.8 million in National Guard orders.

OpenAI emails show that a possible Cerebras acquisition through Tesla was discussed in 2017.

Lufax warned of a quarterly loss of 1.3 billion-1.7 billion yuan, driven by higher credit impairment losses and additional tax expenses.

Western Digital's December-quarter earnings guidance topped estimates, but analysts remain divided over whether strong hard disk drive pricing and elevated margins can persist.