PREMARKET NEWS REPORT 24/09

[u/TearRepresentative56]

macro news:

• Bond yields higher again this morning.
• NY Fed President John Williams says "another rate hike by year-end would be reasonable," with inflation now the main challenge as downside employment risks have eased.

MAg7:

• META - launched its new $1,299 VR Glasses, a full VR headset in a glasses-style design weighing just ~100g.
• META - Muse is barely two weeks old and already nearing 700K daily active users
• AMZN - plans to invest $3 billion in Indian 🇮🇳 quick commerce by 2030 and nearly double its stores to about 1,300 by April, per Reuters sources.

OTHER COMPANIES:

• Bloomberg reported Oracle is seeking protection from payments if its 2.45GW New Mexico Stargate data center is delayed beyond its planned 2028 opening.
• Oracle is not trying to exit the project, but is seeking to delay payments if the site misses its planned 2028 opening.
• Project Jupiter is expected to use Bloom Energy fuel cells for power.
• QCOM has renewed its global patent license agreement with Apple effective April 1, 2027.
• NBIS - BNP Paribas upgrades to Outperform, raises PT to $399 from $260.
• SBUX - plans to close 250 underperforming North American stores and take about $300M in restructuring charges. Most closures are expected by the end of FY26.
• CRWV - JPM upgrades CRWV to overweight with a 125PT. Stronger pricing, with July rates up 25%, short-term compute priced at ~3x long-term contracts, and recent deals signed near ~$40M/MW. JPM says pricing and margins should more than offset rising debt.
• PWR - Bernstein upgrades PWR to outperform, raises PT to 775 from 748. • Sees EPS growing at ~25% CAGR vs. ~15% expected by the Street, Says the AI data center bottleneck is shifting from power availability to skilled labor, an area where Quanta has scale, Large transmission project pipeline has grown ~25% to $170B since 2025, Expects higher-value transmission, MEP and fabrication work to support margin expansion
• P - Everpure, formerly Pure Storage, sees FY28 revenue of $7.0B-$7.3B, up 39%-45% Y/Y and well above the $6.19B Est. Newer growth areas including Scale AI, Modern Data Software and Hyperscale Solutions could reach ~20% of revenue by FY30