The AI boom is delivering enormous profits for chipmakers, but financing costs and stretched valuations are starting to test the infrastructure trade. Meanwhile, higher Treasury yields are pressuring Wall Street, while dealmaking and new investment commitments continue across healthcare, technology, and manufacturing.
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Futures at a Glance📈
Futures are sliding as surging oil prices and elevated Treasury yields reignite inflation worries following Wednesday’s retreat from record highs. Tech is also under pressure, while traders look to weekly jobless claims and fresh Fed commentary for clues on interest rates.
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What to Watch
Earnings (Premarket):
· PepsiCo, Inc. [PEP]
· Tilray Brands, Inc. [TLRY]
· Byrna Technologies Inc. [BYRN]
· Helen of Troy Ltd. [HELE]
· AngioDynamics, Inc. [ANGO]
· NOVAGOLD Resources Inc. [NG]
Earnings (Aftermarket):
· Oil-Dri Corporation of America [ODC]
Economic Reports:
· Fed Governor Christopher Waller speech: 4:30 am
· Weekly jobless claims: 8:30 am
· Wholesale trade (August): 10:00 am
· Minneapolis Fed President Neel Kashkari event: 10:40 am
· St. Louis Fed President Alberto Musalem speech: 1:40 pm
Market Pulse
Wall Street retreated from record highs as the S&P 500 and Nasdaq slipped amid elevated Treasury yields, although a successful bond auction eased some late-session pressure.
Fed officials remain concerned about persistent inflation after September meeting minutes revealed disagreement over additional rate hikes, keeping borrowing costs central to market sentiment.
AI & Semiconductors
Samsung projected nearly $80 billion in third-quarter operating profit as AI memory demand fueled a nearly ninefold annual surge, underlining chipmakers' extraordinary pricing power.
Broadcom is reportedly negotiating more than $50 billion in financing to develop custom AI chips for OpenAI, with Apollo and Blackstone among potential partners.
Healthcare & Biotech
Cerevance reported a Phase 3 Parkinson's disease win after solengepras reduced daily OFF time versus placebo, supporting plans to discuss an FDA filing.
Drug developers are exploring virtual patient simulations as AI platforms attempt to identify likely clinical trial failures, potentially reducing expensive setbacks before human testing.
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*This free resource is being sent by Zacks. We identify investment resources you may choose to use in making your own decisions. Use of this resource is subject to the Zacks Terms of Service.
*Past performance is no guarantee of future results. Investing involves risk. This material does not constitute investment, legal, accounting, or tax advice. Zacks Investment Research is not a licensed dealer, broker, or investment adviser.
Finance & Deals
Canada's Weston family and Fairfax agreed to acquire Boots for $8.9 billion through a deal covering its UK, Irish, and Thailand operations, including assumed debt.
Elliott and Siris are exploring a potential sale of Gigamon as advisers evaluate a transaction valuing the network software business above $2 billion.
Capital & Industry
Nvidia-backed Firmus reduced its proposed IPO price by 25%, cutting its implied valuation to roughly A$33 billion as investors scrutinize AI data-center economics.
Wolfspeed secured a conditional U.S. defense financing commitment of up to $1.5 billion to expand domestic silicon-carbide and advanced power semiconductor production.
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Movers and Shakers
Wolfspeed [WOLF]: Premarket Move: +15%
Wolfspeed surged after securing a conditional commitment for up to $1.5 billion in financing from the U.S. Department of Defense. The 30-year financing package is designed to support domestic production of silicon carbide materials and power devices, giving the recently restructured chipmaker a major source of long-term capital while strengthening its role in the U.S. semiconductor supply chain.
Haemonetics [HAE]: Premarket Move: +4%
Haemonetics climbed after CSL expanded its relationship with the medical technology company. The companies have been rebuilding their U.S. plasma partnership, with CSL moving a portion of its collection centers toward Haemonetics’ NexSys PCS devices and Persona PLUS technology, potentially restoring an important source of equipment and recurring disposable sales.
Roivant Sciences [ROIV]: Premarket Move: −5%
Roivant fell as traders continued to reassess the biotech company after a huge run fueled by positive clinical and regulatory developments. Shares had surged in September after Phase 2 data for mosliciguat showed a 56.3% placebo-adjusted reduction in pulmonary vascular resistance, but the stock has since given back part of those gains.
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Everything Else
🧭 Everyone owns the Mag 7 but seven new contenders with strong fundamentals and growing influence are already quietly positioning to lead what comes after.
💾 Penguin Solutions raised its fiscal 2027 revenue outlook to $2.43 billion after quarterly sales jumped 68%, driven by AI infrastructure and memory demand.
⚡ Black Hills Corp. announced a $1.8 billion investment to supply electricity to Google's planned Wyoming data center.
🍺 Constellation Brands beat quarterly earnings expectations, with revenue rising 6% despite signs of softer consumer demand for its beer brands.
🧬 Bavarian Nordic raised its 2026 revenue and profit-margin forecasts, sending shares higher even as broader European markets declined.
🖥️ Hewlett Packard Enterprise gained after unveiling new AMD-powered servers, expanding its hardware lineup for enterprise computing and AI workloads.
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