Wall Street live — Wednesday, October 7

16:56 PM — Applied Digital (APLD) beat on revenue and adjusted EPS. Live capacity hit 250 MW, but lumpy construction sales and debt limited the move.

16:31 PM — Wolfspeed (WOLF) received a conditional commitment for up to $1.5 billion in 30-year financing from the Department of War to expand U.S. SiC and GaN production.

16:17 PM — Novartis’ (NVS) remibrutinib becomes the first approved treatment for friction-triggered hives, with complete responses seen by week 2 in a Phase III trial.

16:05 PM — Stocks close lower but recover from session lows as Treasury yields ease following strong auction.

15:51 PM — Pfizer’s (PFE) Tukysa is now FDA-approved as a chemotherapy-free maintenance option for HER2-positive metastatic breast cancer, delaying progression.

15:25 PM — Bitcoin’s rally is stalling under a “perfect storm”: higher oil prices, rising Treasury yields, and a stronger dollar. BTC fell below $84,000 (down ~3% in 24 hours) but is still up over 30% in three months. Ether and XRP also slipped, and crypto stocks dropped.

14:54 PM — BKV signed an ~$800M deal for 1,200 MW of Texas gas power gear. A hyperscaler covers ~90% of costs through March 2027, with an exit option.

14:21 PM — The 10-year Treasury yield eased from a 24-year high after a strong $39 billion bond sale calmed demand worries. It hit 5.35% (highest since 2002) then fell to about 5.29%. Foreign buyers took most of the notes. Inflation and rising oil prices had pushed yields up. Fed notes suggest another rate hike possible by year-end.

14:13 PM — Fed officials expect one more rate hike this year to fight inflation stuck above their 2% goal for over five years. Minutes show most see a hike by year-end, but not when—October looks unlikely after softer price data. Next decisions: Oct. 28 and Dec. 9.

13:09 PM — Waymo, Alphabet’s self-driving taxi company, raised its private loan to $5 billion after strong demand from big lenders like PIMCO and Blackstone. The money will help grow its robotaxi fleet and pay rising AI costs as it expands.

13:06 PM — Leerink analyst Michael Cherny calls Progyny’s (PGNY) 1.2M new covered lives from early-2027 launches a clear positive. Growing fertility and women’s health services and winning share shows the broader plan works. He sees momentum supporting the stock and keeps an Outperform rating.

13:03 PM — Penguin Solutions (PENG) posted record results on AI data-center demand: Q4 sales $567M, up 68%. Full-year sales $1.73B, up 26%. It raised FY2027 outlook to about $2.43B sales (+40%) and non-GAAP EPS of $4.45. Shares +14%.

12:56 PM — Sportradar (SRAD) is selling the coaching and scouting side of Synergy Sports (Atrium Sports) to Teamworks for $170 million cash. This lets it focus on betting, gaming, and media while keeping some tech like video cameras and graphics. The deal should close by the end of 2026.

12:52 PM — Barclays lowered its Skydance (SKYD) price target to $7 and kept an Underweight rating as $80B debt and streaming challenges pressure shares.

12:24 PM — Hess Midstream (HESM) shares fell over 16% to $32.47 after agreeing to buy Chevron’s (CVX) Colorado oil and gas gathering assets, take full control, and cancel nearly 40% of shares.

It will pay $200 million, cut tariffs, and extend deals to 2045, becoming an independent multi-basin firm. 2027 outlook: $850–950M adjusted EBITDA, $525–625M free cash flow.

12:20 PM — FMS shares tumbled 7% after Fresenius Medical Care named Shervin Korangy its new CEO, replacing Helen Giza on Oct. 12. He’ll push growth after her cost cuts of about €1.2 billion made the dialysis firm leaner and more profitable.

12:11 PM — Deere (DE), CNH, and AGCO shares fell after the FTC and USDA asked the public about equipment sales, dealer limits, and repair barriers.

11:40 AM — PROG Holdings (PRG) shares fell 6% after short seller Jehoshaphat Research said the firm is hiding weak demand. It claims Four made riskier loans while delaying loss reserves, Purchasing Power’s real growth is near zero, and Progressive Leasing is in long-term decline from rivals.

11:28 AM — Frasers Group, led by Mike Ashley, bought 16.6 million shares (8.8%) of Under Armour (UAA). It also holds stakes in Puma, Hugo Boss (near majority), Burberry and Mulberry, and bought Harvey Nichols, expanding into struggling sports and luxury brands.

11:18 AM — Deutsche Bank says Wall Street’s 2027 numbers for Enphase (ENPH) and SolarEdge (SEDG) are too optimistic, citing safe-harbor sales and softer U.S. demand.

10:33 AM — A bipartisan House panel says Webull (BULL) is structurally tied to China, putting U.S. investor data and cash at risk. Webull disputes the findings; shares fell about 20%.

10:13 AM — Ultragenyx (RARE) will sell a rare pediatric priority review voucher for $210 million in cash. The buyer is undisclosed and the deal is not closed.

09:49 AM — Intel (INTC) shares rose after Musk said Tesla (TSLA) and SpaceX (SPCX) will build and run Terafab. TSMC (TSM) may only sublease space, and Intel stays involved.

09:34 AM — S&P 500 opens lower, pulling back from record highs; oil prices, Treasury yields, the dollar and volatility rise ahead of Fed Minutes.

09:17 AM — Morgan Stanley lifted its Eli Lilly (LLY) price target to $1,430 from $1,419, keeping an Overweight rating, after adjusting biopharma models ahead of Q3 results based on IQVIA trends and intra-quarter updates.

09:08 AM — JPMorgan initiated Savara (SVRA) at Overweight with a $12 target, about 158% above the last close, ahead of a Nov. 22 FDA decision on MOLBREEVI. The stock was up 2.37% in premarket trading.

08:52 AM — FuelCell Energy (FCEL) on Wednesday named Matthew Latino as chief financial officer, effective Oct. 7, 2026, succeeding longtime finance chief Michael Bishop in a planned transition. Bishop stays on as a senior advisor. Shares of the Danbury, Conn., company fell nearly 7% in premarket trade.

08:35 AM — Google (GOOGL) and Unity (U) are letting people turn a text prompt into a playable game, joining Roblox (RBLX) and Meta (META) in the race for new creators. Unity rose 3.4% in premarket trading, while Roblox fell 4%.

08:06 AM — Micron’s (MU) largest Taiwan hub faces a possible strike after a 99% union vote on profit-sharing. Shares fell over 2% premarket.

07:50 AM — Sigma Lithium (SGML) restarted mining in Brazil after a court restored licenses. Its 2027 target holds, but a community land case remains open.

07:29 AM — Evercore ISI upgraded NetApp (NTAP) to Outperform and lifted its price target to $300 from $210. It says the firm’s ~17% growth outlook looks too cautious, since it assumes a sharp second-half slowdown. Normal seasonality could mean low-20% growth next year and EPS near $11, above the Street’s $10.01.

07:21 AM — Cirrus Logic (CRUS) bought INVENTVM, an Italian firm that designs power and audio chips. The deal adds engineers, ideas, and a European base to help Cirrus grow into new markets. Price not shared; it won’t change Cirrus sales much.

06:48 AM — ZIM Integrated Shipping Services (ZIM) jumped ~4.5% premarket after raising its 2026 outlook. It now sees much higher profits—Adjusted EBITDA $2.7–3.0B (up ~30% at the midpoint) and Adjusted EBIT $1.4–1.7B (up ~72%)—thanks to strong shipping demand and rising freight rates.

06:37 AM — Constellation Brands (STZ) fell about 5% because the strong quarter didn’t lift the full-year outlook. Flagship beers still lost volume, and the year EPS range stays below Wall Street’s forecast, so investors see a weaker second half, not a rebound.

Separately, STZ bought SpikedAde, a vodka sports-drink RTD, for $75 million plus up to $278 million if it hits targets. That deal does not change this year’s outlook.

05:51 AM — Citi upgraded Flutter (FLUT) to Buy from Neutral and cut its price target slightly to $91 from $93. Analyst Monique Pollard expects no estimate cuts after the Q3 report, and says this could be the first quarter in four where U.S. results don’t miss or force lower guidance.

05:31 AM — SpaceX (SPCX) reportedly seeks to raise $40 billion in debt to purchase Nvidia (NVDA) chips.

05:30 AM — S&P 500, Dow and Nasdaq set for steady open after record session as oil prices and bond yields rise; Fed minutes ahead.