Earnings season is shifting into high gear as two of Wall Street's biggest names prepare to report, while oil above $110 adds another layer of uncertainty for markets. Meanwhile, India's record-breaking IPO is drawing enormous demand, and multibillion-dollar deals continue across healthcare, technology, and industrials.
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Futures at a Glance📈
Futures are climbing, with tech leading the charge as strong AI earnings revive market optimism. SpaceX and Super Micro are fueling the rebound, while traders gear up for tonight’s blockbuster reports from Meta and Tesla. Rising oil prices and Treasury yields are keeping some caution in the mix.
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What to Watch
Earnings (Premarket):
· Philip Morris International Inc. [PM]
· Thermo Fisher Scientific Inc. [TMO]
· Abbott Laboratories [ABT]
· NextEra Energy, Inc. [NEE]
Earnings (Aftermarket):
· Meta Platforms, Inc. [META]
· Tesla, Inc. [TSLA]
· Lam Research Corporation [LRCX]
· SAP SE [SAP]
· Texas Instruments Incorporated [TXN]
· International Business Machines Corporation [IBM]
Economic Reports:
· None scheduled
Market Pulse
Meta and Tesla face a high-stakes earnings test Wednesday as both companies report after the bell with advertising demand, automotive margins, and capital spending in focus.
Oil is back above $110 as Middle East supply worries intensify, with U.S. inventories falling 4.9 million barrels and shipping attacks reviving inflation concerns for American consumers.
AI & Technology
SpaceX and Tesla are formally exploring a potential merger after special committees began discussing a combination that could unite Musk's space, automotive, and computing businesses.
Australian data-center operator NextDC lost nearly 42% of its value after power network delays derailed revenue forecasts, forcing the company to pause new developments for now.
Healthcare & Biotech
Roche struck a cancer-drug partnership potentially worth over $15 billion with China's Hansoh Pharmaceutical for targeted treatments, strengthening its expanding pipeline of antibody-drug conjugates worldwide.
Novo Nordisk's CagriSema produced average weight loss of 25% in women according to a new analysis of late-stage data, supporting its next-generation obesity ambitions ahead of FDA review.
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Finance & Deals
Salesforce agreed to acquire Braze for $5.66 billion in a deal strengthening personalized customer engagement, offering shareholders $47.50 per share and a 58% premium over the previous close.
AkzoNobel and Axalta are nearing approval for their $25 billion merger after agreeing to sell two business units to address American and European competition concerns.
Capital & Industry
Jio Platforms' $3.2 billion IPO was fully subscribed within two hours as India's largest-ever share sale attracted buyers before its anticipated October 28 trading debut.
GE Aerospace raised its annual earnings outlook as engine servicing demand grew, with commercial engine revenue rising 21% despite higher fuel costs and aircraft production challenges.
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Movers and Shakers
Super Micro Computer (SMCI) +12%
Super Micro shares surged in premarket trading after the AI server maker raised its quarterly revenue forecast. The company now expects fiscal first-quarter sales of $18.5 billion to $19.5 billion, up from its previous outlook of $14.5 billion to $15.5 billion. Expected gross margins also improved to 12%-12.5%, reinforcing confidence that AI infrastructure demand remains strong.
Netflix (NFLX) -6%
Netflix shares tumbled after the streaming giant cut its advertising revenue forecast from $3 billion to $2.7 billion for 2026. Third-quarter revenue rose 12% to $12.87 billion, while earnings of $0.87 per share beat expectations. However, fourth-quarter revenue guidance of $13.44 billion fell short of estimates, adding to concerns about slowing growth, weaker viewer engagement, and intensifying competition.
Intuitive Surgical (ISRG) -8%
Intuitive Surgical shares tumbled after the robotic surgery giant disclosed a $450 million settlement tied to antitrust litigation. Revenue increased 22% to $3.05 billion, while adjusted earnings reached $3 per share, beating expectations. However, the legal charge and management's decision to maintain its 14%-15% full-year procedure growth forecast overshadowed the strong results, raising concerns about slowing growth.
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Everything Else
💎 Seven buy and hold forever stocks built to quietly compound wealth are revealed in a free report including one with 61 straight years of dividend growth.
🤖 Salesforce agreed to acquire Braze for $5.66 billion, expanding its AI-powered marketing capabilities and sending Braze shares surging more than 50%.
🚀 SpaceX reported its first quarterly profit as a public company, with revenue jumping 161% to $14.58 billion on booming AI infrastructure demand.
🎨 AkzoNobel advanced its $25 billion merger with Axalta, agreeing to sell two business units to address regulatory concerns in the U.S. and Europe.
🚗 General Motors fell nearly 7% Tuesday as its weaker-than-expected outlook overshadowed quarterly results that beat Wall Street estimates.
📦 3M jumped nearly 6% Tuesday after announcing a strategic deal with Amazon and raising its annual profit forecast.
That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.
Best Regards,
— Adam Garcia
Elite Trade Club
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