Wall Street is poised for a modestly lower opening after the S&P 500 achieved a record high at the close on Friday. Investors are closely watching several key events scheduled for the week, including an earnings report from Costco expected after Thursday’s market close and the release of the Federal Reserve’s preferred inflation measure, set to be unveiled on Friday morning.
In corporate developments, Oracle has appointed Clay Magouyrk and Mike Sicilia as co-CEOs, stepping in for Safra Catz, who will transition to the role of executive vice chair of the board. This leadership change comes on the heels of a significant 30% stock price surge this month, fueled by optimistic forecasts for the company’s cloud infrastructure sector, largely driven by rising demand for artificial intelligence solutions.
Meanwhile, Barclays has highlighted substantial advertising prospects for Meta Platforms, its portfolio holding, with potential revenues of $6 billion from WhatsApp and $19 billion from Threads anticipated by 2026 and 2027, respectively.
In the tech sector, Wedbush has upped its price target for Apple from $270 to $310 per share, citing an underappreciated new iPhone upgrade cycle. Analyst Dan Ives has been vocal about this sentiment in recent discussions.
In a leadership shakeup, T-Mobile has announced that COO Srinivasan Gopalan will succeed Mike Sievert as CEO, effective November 1. Sievert will take on the role of vice chairman. The company’s stock has been recognized as the top performer within the telecom sector.
In another notable mention, Melius has suggested that Microsoft is on the cusp of a significant catch-up trade, with positive developments emerging from the software and cloud giant.
In pharmaceutical news, Pfizer revealed plans to acquire the obesity drug developer Metsera in a move valued up to $7.3 billion, which includes potential future payments. This acquisition presents ongoing challenges for Eli Lilly in the weight loss market.
On the regulatory front, the Trump administration is anticipated to assert a connection between the use of Tylenol by pregnant women and autism. However, Kenvue, the manufacturer of Tylenol, has countered these claims by citing decades of research to the contrary. Following this announcement, the company’s stock experienced a 4% decline.
Looking ahead to earnings, Stifel has raised its price target on Micron Technology from $145 to $173, maintaining a buy rating ahead of the company’s earnings report on Tuesday. Analysts expect strength in NAND flash memory but caution that capital expenditures for fiscal 2026 may not match revenue growth.
Lastly, Wedbush has increased its price target for advanced nuclear technology firm Oklo from $80 to $150. Oklo’s stock surged nearly 29% on Friday, following the announcement of joint nuclear power goals from the U.S. and the United Kingdom. The stock has seen a staggering gain of over 530% this year, bolstered by a renewed focus on nuclear energy under the Trump administration.
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