• Oracle and Blue Owl fall on data center concerns: Oracle (ORCL) fell 3.5% after issuing a force majeure notice tied to one of its data centers, seeking payment protection if the project misses its promised start date. Blue Owl (OWL), which is building the New Mexico facility, fell 3.7%. Sources: Bloomberg / Reuters.
• Greenlandic stocks extend post-deal gains: Greenland Mines (GRML) and Greenland Energy (GLND) are up over 300% WoW following the signing of a strategic pact between the U.S., Greenland, and Denmark. Source: StockAnalysis.com.
• Anthropic signs Akamai deal: Cloud infrastructure firm Akamai (AKAM) vaulted 14% premarket on a $11.6B, 7-year deal to service Anthropic. Source: WSJ.
• Tesla Semi hits the road: Tesla (TSLA) is beginning customer deliveries of its Semi this week after starting volume production in April. Its Nevada factory has capacity for 50K trucks annually, with shares up 1% premarket. Source: The Verge.
• Costco sees revenue rise: Costco (COST) beat quarterly estimates as revenue rose 11% to $95.72B and same-store sales gained 6.7%. Discount fuel and bulk deals attracted inflation-weary shoppers. Still, shares fell slightly premarket. Source: Reuters.
• UBS weighs foreign bank deals: UBS (UBS) is considering combinations with foreign banks to sidestep stricter Swiss rules that may require $16B in extra capital. Morgan Stanley (MS), Deutsche Bank (ETR:DBK), and Standard Chartered (LON:STAN) were cited as possible partners. UBS gained 1.5%. Source: Bloomberg.
• Amazon expands robotics production: Amazon (AMZN) plans to invest more than $100M in a new Indiana robotics plant, doubling such factories to 4. Amazon says robots assist with 75% of customer orders. Source: WSJ.
• Letterboxd draws acquisition interest: Sony Pictures (SONY), the New York Times (NYT), and A24 have expressed interest in buying Letterboxd, a popular online film-wishlist platform owned by Canadian firm Tiny (TSX:TINY). A deal is expected to value the film platform above $300M. Source: NY Times.
• Pepsi reverses some price cuts: Pepsi (PEP) plans price increases on chips, dips, and soda after earlier cuts failed to lift North American food sales. Shares fell 1%. Source: Bloomberg.
• Swedish firm soars on Novo deal: Swedish pharma company Nanexa (STO:NANEXA) popped 100% after signing a $1.33B licensing deal with Novo Nordisk (NVO) for long-acting injectable weight-loss drugs. Novo gained 1.2%. Source: CNBC.
• Microsoft refocuses Copilot on work: Microsoft (MSFT) is merging its consumer and workplace Copilot apps, retreating from the personal chatbot race to focus on enterprise AI. Sources: Bloomberg / The Verge.
• Bezos fuels Blue Origin expansion: Jeff Bezos has invested $30B of his own fortune in Blue Origin, which recently raised $10B at a $140B valuation. The space company expects revenue to surge to $30B by 2030. Source: WSJ.

Baseline was built inside an investment firm for its own process. Every fund asks the same questions: How critical is this business for customers, how easy is it to enter the market, is there an activist involved? We ask these questions optimally of over 3,600 companies, and publish the answers with a written rationale behind every score.

• U.S. backs Musk in E.U. legal fight: The DOJ is seeking to join X’s (SPCX) challenge to a $137M E.U. fine, claiming regulatory overreach. The dispute could affect how E.U. rules apply to U.S. tech firms. Source: BBC.
• NY vs. Polymarket: New York state filed a lawsuit against Polymarket, alleging that the prediction platform operates illegal gambling. Source: WSJ.

• New home sales jump: New home sales in the U.S. rose 6.4% in August to an 8-month high of 684K annualized, beating forecasts, as builders cut prices and offered incentives. The median price fell 5.8% to $393K. Source: Reuters.
• Gas prices hit seasonal record: The average U.S. gallon of gasoline is $4.48, up nearly $0.05 WoW and the highest ever for this time of year. Source: AAA.

• Iran proposes peace plan: Iran proposed ending hostilities, reopening the Strait of Hormuz, and restarting nuclear talks within 7 days if the U.S. releases frozen assets, waives oil sanctions, and lifts its naval blockade. The U.S. has not yet agreed to any deal but called talks constructive. Source: NY Times.
• Europe cushions record fuel costs: European governments are cutting fuel taxes, expanding subsidies, and easing energy rules amid record pump prices. E.U. consumers are spending an extra €203M a day on diesel. Source: AP.
• Ohio voting rule goes into effect: In a victory for Republicans, a federal court reinstated Ohio’s requirement that people provide proof of citizenship when registering to vote. Source: Politico.

• 8:30 AM: Durable Goods Orders MoM & Durable Goods Orders Excl. Transp. MoM
• 10:00 AM: Michigan Consumer Sentiment Final

Costco (COST) has released its quarterly earnings.

• Revenue of $95.72B (+11.10% YoY) beats by $850.09M.
• EPS of $6.75 (+14.99% YoY) beats by $0.23.
• Financials · As Reported · Metrics · Press Release

Jefferies Financial Group (JEF) will report Monday after market close.

• Analysts estimate revenue of $2.20B (+7.41% YoY).
• EPS is estimated to be $1.01 (0.00% YoY).
• Financials · As Reported · Metrics

Vail Resorts (MTN) will report Monday after market close.

• Analysts estimate revenue of $271.10M (-0.07% YoY).
• EPS is estimated to be -$5.31.
• Financials · As Reported · Metrics

Carnival Corporation (CCL) will report Tuesday.

• Analysts estimate revenue of $8.39B (+2.92% YoY).
• EPS is estimated to be $1.35 (-5.59% YoY).
• Financials · As Reported · Metrics

Micron Technology (MU) will report Wednesday.

• Analysts estimate revenue of $51.13B (+351.89% YoY).
• EPS is estimated to be $31.50 (+939.60% YoY).
• Financials · As Reported · Metrics

Jabil (JBL) will report Wednesday.

• Analysts estimate revenue of $9.68B (+17.30% YoY).
• EPS is estimated to be $4.02 (+22.19% YoY).
• Financials · As Reported · Metrics

Accenture (ACN) will report Thursday.

• Analysts estimate revenue of $18.03B (+2.45% YoY).
• EPS is estimated to be $3.18 (+4.95% YoY).
• Financials · As Reported · Metrics

Nike (NKE) will report Thursday.

• Analysts estimate revenue of $11.35B (-3.19% YoY).
• EPS is estimated to be $0.44 (-10.20% YoY).
• Financials · As Reported · Metrics

• Confirmed today: ADARx Pharmaceuticals, Inc. (ADRX), a late-clinical stage biotechnology company with $6.13M in TTM revenue.