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Akamai Technologies Signs $11.6B Seven-Year Cloud Deal with Anthropic — Shares Surge Over 20% as Capex Guidance Rises $1.7B

Akamai Technologies locked in an $11.6 billion seven-year cloud services contract with Anthropic to power accelerating CPU workloads, with potential expansion to $20 billion total. The deal includes a warrant for up to 5 percent of Akamai stock and drives an extra $1.7 billion in 2026 capital spending. Shares surged more than 20 percent in after-hours and premarket trading as investors embraced the largest contract in company history and fresh validation of its distributed AI infrastructure.

Costco Wholesale Q4 Net Sales Climb 11.2% to $93.9B, EPS Hits $6.75 — Membership Fees and Digital Sales Drive Beat

Costco Wholesale reported fiscal fourth-quarter net sales of $93.9 billion, up 11.2 percent year-over-year, and diluted EPS of $6.75 that included a $0.15 non-recurring tariff-refund benefit. Comparable sales rose 9.4 percent and digitally enabled sales jumped nearly 20 percent. Membership fee income advanced 7.3 percent, underscoring resilient member spending despite higher interest rates and elevated energy costs across the broader economy.

Nike Shares Slip After Bank of America Cuts Rating to Underperform, Slashes Price Target to $30 from $47

Bank of America Securities downgraded Nike to Underperform from Neutral and cut its price target to $30 from $47, citing rising risks to the brand’s turnaround and expectations of sales declines through fiscal 2027. The firm also reduced FY27 and FY28 earnings forecasts by 11 percent and 12 percent respectively. Shares slipped in premarket trading as the note added to a series of cautious analyst actions across the athletic apparel group.

Meta Platforms Approaches $2 Trillion Market Cap After 36% September Surge Fueled by Muse AI Momentum

Meta Platforms shares have climbed roughly 36 percent in September, lifting the company’s market capitalization to approximately $1.98 trillion and positioning it within striking distance of the $2 trillion milestone. The rally has been powered by strong early traction for the Muse AI assistant and related hardware. Resolution of a major legal overhang and new commercial partnerships have further supported the re-rating of the stock.

U.S. Stock Futures Rise 0.3–0.7% as Oil Falls Below $100 and 10-Year Yield Eases from 5.22% on Hormuz Talks

U.S. equity futures advanced on Friday with the Nasdaq 100 up roughly 0.5 to 0.7 percent, the S&P 500 up 0.3 percent, and the Dow up 0.2 percent as Brent crude slipped toward $105 and the 10-year Treasury yield retreated from a 19-year high near 5.22 percent. Reports of U.S.-Iran discussions on a phased reopening of the Strait of Hormuz provided the main relief catalyst after a volatile week dominated by rising yields and energy prices.

U.S. Jobless Claims Fall to 197,000, Beating 201,000 Estimate — Near 57-Year Lows as Labor Data Backs Rate-Hike Case

U.S. initial jobless claims slipped 1,000 to a seasonally adjusted 197,000 for the week ended Sept. 19, below the 201,000 economists expected and near 57-year lows. Continuing claims rose 2,000 to 1.719 million in the prior week, consistent with a stable 4.1% unemployment rate. The firm labor data arrives as Federal Reserve officials signal another rate hike, and it complicates hopes for a softer policy path while energy prices and tariffs weigh on hiring.

Costco Reports Fiscal Q4 2026 After the Bell Today — Street Expects $6.55 EPS on $94.9B Revenue as Options Price 3.5% Move

Costco reports fiscal fourth-quarter 2026 results after the close today, with analysts expecting adjusted earnings of about $6.55 per share on roughly $94.9 billion in revenue, up 10% from $86.16 billion a year ago. Options imply a 3.5% post-earnings move against a 1.4% eight-quarter average. Net sales of $93.9 billion are already known, so investors will focus on margins, membership fee growth and whether higher gas prices are driving traffic at a stock trading near eight-month lows.

CoreWeave Upgraded to Overweight at JPMorgan With $125 Target, 44% Upside — Nebius Lifted to Outperform, $399 Target at BNP Paribas

JPMorgan upgraded CoreWeave to Overweight from Neutral and raised its price target to $125 from $120, implying about 44% upside from roughly $86.90, citing stronger AI compute pricing. BNP Paribas Exane separately upgraded Nebius to Outperform and lifted its target to $399 from $260. CoreWeave raised prices 25% in July, and new contracts add 5 to 10 percentage points of contribution margin, though CoreWeave gave back early premarket gains as a broader market selloff weighed on tech.

U.S.-China Trade Truce Extended Two Months to Jan. 10 as Xi Meets Trump Today — Rare Earth and Tariff Relief Stay in Place

The United States and China extended their trade truce by two months to Jan. 10, Treasury Secretary Scott Bessent said, preserving lower tariffs and rare earth access as Xi Jinping begins his first U.S. state visit in over a decade. President Trump hosts Xi at the White House today. Beijing has not publicly confirmed the terms, and Bessent said China must deliver more before a broader deal, leaving investors watching tariff lists that could favor energy, agriculture and medical device exports.