Wednesday’s Premarket % Movers
Position: None
Select Premarket Movers
Upside
– $LQDA +41.0% ($380.7M global settlement resolves six lawsuits and preserves uninterrupted YUTREPIA commercialization)
– $TCRT +25.5% (completed Velaris acquisition and secured an approximately $350M private placement to fund development through 2029)
– $VSTM +11.0% (VS-7375 produced a 50% confirmed response rate in eight second-line pancreatic-cancer patients, with FDA alignment on a Phase 3 plan)
– $ENVX +10.0% (received a 100,000-battery drone order and reported preliminary Q3 revenue above guidance)
– $BLK +5.0% (Q3 beat as $205B of net inflows and strong organic base-fee growth topped expectations)
– $ACN +4.0% (investor day targets)
Downside
– $BMEA -20.0% (Phase 1 BMF-650 weight-loss data disappointed investors despite no severe or serious treatment-emergent events)
– $STT -8.5% (Q3 EPS was roughly in line, but revenue missed and fee revenue declined sequentially)
– $FAST -4.5% (Q3 revenue came in slightly light and the 2026 device-signings target was trimmed despite an EPS beat and better operating margin)
– $BAC -4.5% (Q3 adjusted EPS and revenue missed as a $1.2B regulatory-settlement charge weighed on results)
– $HPE -4.5%, NTAP -4.0%, DELL -3.0% (Barclays downgrades the hardware names to Equal Weight, citing valuation and a lack of meaningful AI-driven growth inflection)
– $CRWV -4.0% (no clear fresh company-specific catalyst identified; unusually large premarket move)
Position: None
CPI Instant Reaction
Break in!
A slightly higher inflation print.
Supportive of our thesis of sticky inflation.
Position: None
Fed Speakers and Economic Calendar
FED SPEAKERS:
5:40AM: US Fed Vice Chair for Supervision Bowman (Voter) participates in a moderated discussion at the Institute of International Finance Annual Membership Meeting, Bangkok; Afternoon: Fed Bank of Chicago President Goolsbee (Non-Voter) Radio Appearance — NPR’s All Things Considered;
1:30PM: Fed Bank of Richmond President Barkin (Non-Voter) participates in fireside chat at the Chamber RVA Regional Action Summit 2026, Richmond, VA (No text. No livestream; Event information:
https://go.chamberrva.com/events/details/regional-action-summit-2026-6328);
3:00PM: Fed Bank of Chicago President Goolsbee (Non-Voter) Television Appearance — Yahoo! Finance;
10:55PM: US Fed Vice Chair for Supervision Bowman (Voter) participates in a moderated discussion at the Annual Meetings of the International Monetary Fund and World Bank Group (Bangkok)
ECONOMIC CALENDAR:
Position: None
CPI Projection Eases Pressure: 8 Key Items Shaping the Stock Market Wednesday
September CPI on deck, Microsoft’s massive data center plans and other headlines moving the market this morning.
Subscriber Comment of the Day
douglas cassel
The implications of Doug K’s article about diamonds being rendered worthless by new synthetic technology goes beyond the value of jewelry. For a few thousand years diamonds were a very portable and tax advantaged store of wealth that could be concealed from authorities. Many a family used diamonds to avoid wealth confiscation across borders, political upheaval, and taxes. This ease of transport and stealth is in contrast to gold, which presents real problems with moving any amount of significant value. Witness the premium charged to sell gold in the recent Iran War for those in the middle east. One of the use cases for crypto is this very niche, vacated by the development of lab grown diamonds.
Diamonds Are Not Forever…
Position: None
BY Doug Kass · Oct 14, 2026, 6:25 AM EDT
Watching CDS and Bond Yields
Position: Short CRWV (S)
ASML Just Told Investors Something They Shouldn’t Ignore
The chip-equipment bellwether is sending an important signal for AI and the market. Just make sure you’re in the right spots.
Cannabis Tweet of the Day
The observation about an acceleration in Ohio same-store sales (following a hemp ban in March) was something I commented to one of our subs a week or so ago — when he expressed concerns about statewide unit sales.
Position: None