Early Look

Friday, September 11, 2026

After falling for four consecutive trading days, S&P 500 futures, Dow futures and Nasdaq futures are bouncing, up across the board ahead of the August consumer price index (CPI) inflation report at 8:30 am et. Shares of Oracle (ORCL) are higher by about 7% after earnings last night, giving the Ai trade a little boost. Data this morning is expected to show that consumer prices rose 3.4% in August and could prove crucial as a divided Fed weighs whether to hike interest rates later this month. Economists expect to see prices jump 0.4% in August from a month earlier, faster than July's 0.1% monthly gain, with annual price gains holding steady at 3.4%. Treasury prices remains elevated along with oil which is on pace for a 7% weekly gain. This morning, U.S. oil price dips below $100 while diesel passes $6, marking fresh record. All eyes have been on the 10-year Treasury yield inching towards 5%, but yesterday’s move up in the 2-year Treasury yield is the largest one-day move in over a year (hit 4.58% - highest since July 2024). In Asian markets, The Nikkei Index tumbled -1,259 points to 64,011, the Shanghai Index fell -46 points to 3,888, and the Hang Seng Index declined -149 points to 24,805. In Europe, the German DAX is up 172 points to 25,533, while the FTSE 100 is up 56 points to 10,665.

Stocks dropped Thursday after U.S. oil prices topped $100 a barrel, amid growing fears of higher inflation from a prolonged war in the Middle East, while Treasury yields jumped from the long to the short end ahead of key CPI inflation data later today. The S&P, Dow and Nasdaq all closed lower for a 4^th straight day on Thursday, a feat not seen for the S&P since early March of this year! U.S. West Texas Intermediate closed at $102.48, up 6.7% while Brent crude futures gained 5.9% to settle at $107.63 – the highest close since May 19 for both benchmarks. Since the Iran war began at the end of February, WTI is up 52.9%, and it’s up by 78.5% YTD. The 30Y yield hit 5.373%, its highest since 2007.

• The Dow Jones Industrial Average fell -316.56 points, or 0.60%, to 52,064.10
• The Nasdaq Composite slid -171.62 points, or 0.65%, to 26,081.73
• The Russell 2000 Index declined -30.28 points, or 1.04% to 2,890.95

• 8:30 AM ET                   Consumer Price Index (CPI) headline Y/Y for August…est.  +3.4% (prior +3.4%)
• 8:30 AM ET CPI Core – Ex: Food & Energy M/M for August…est. +0.2% (prior +0.2%)
• 8:30 AM ET CPI Core – Ex: Food & Energy Y/Y for August…est. +2.4% (prior +2.5%)
• 10:00 AM ET                 University of Michigan Confidence, Sept-prelim…est. 51.0 (prior 51.7)
• 11:00 AM ET                 Cleveland Fed CPI for August
• 1:00 PM ET                    Baker Hughes Weekly rig count data
• 2:00 PM ET                    Federal Budget for August

• Goldman Sachs Communacopia + Technology Conference, 9/8-9/11

• US equity funds shed $14.2B over the past three weeks, the largest outflow since January, BOFA said, citing EPFR Global data. Inflows are slowing worldwide, with global stock funds averaging $7B a week over the same period, down from $52B in July.
• Diesel prices rose above $6 a gallon for the first time ever, raising the risk of further energy-driven inflation just ahead of peak demand season for the fuel.

• RH Corp. (RH) Q2 GAAP net revenues up 2.6% to $922.2M; GAAP net Income rose 16.36% to $60.2M; GAAP operating Income fell 16.53% to $107.6M; Gross margin widened 2.7 percentage points to 48.2%, helped by tariff refunds; guides FY26 rev growth of 5.5%-7% and adj Ebitda 15%-16.2%.
• Viking Holdings Ltd (VIK) announced that its board of directors authorized a share repurchase program of up to $1 billion of Viking's outstanding ordinary shares.
• Zumiez (ZUMZ) Q2 EPS $(0.17) vs. est. ($0.14); sales $209.0Mm vs. $212.1Mm est.; operating loss $(16.5)Mm; Q3 sales guidance $222Mm-$226Mm vs. $238Mm est, sees Q3 EPS $0.00-0.10 vs est $0.59; qtr-to-date net sales -4.3% yr/yr with comps -3.5%.

• Artisan Partners Asset Management Inc. (APAM) preliminary assets under management ("AUM") as of August 31, 2026, totaled $183.5 billion. Artisan Funds and Artisan Global Funds accounted for $94.5 billion of total firm AUM, while separate accounts and other AUM accounted for $89.0 billion.
• Invesco Ltd. (IVZ) preliminary month-end assets under management (AUM) of $2,562.1 billion, an increase of 4.7% versus previous month-end. The firm delivered net long-term inflows of $27.6 billion in the month. Money market net inflows were $35.8 billion. AUM was positively impacted by favorable market returns which increased AUM by $49 billion. FX increased AUM by $2.7 billion.
• Robinhood Markets, Inc. (HOOD) funded customers at the end of August were 28.6 million (up about 120K from the end of July 2026, up approximately 1.90M y/y. Total Platform Assets at the end of August were $384 billion (up 8% m/m and up 26% y/y). Net Deposits were $4.0 billion in August, or a 14% annualized growth rate relative to July 2026 Total Platform Assets. Equity Notional Trading Volumes were $335 billion (up 1% m/m and +68% y/y for trading volumes).

• Oracle Corp. (ORCL) Q1 adj. EPS $1.92 vs. $1.74 est.; revenue $19.3B vs. $19.1B est.; Cloud revenue $11.6B vs. $11.44B est., including Cloud infrastructure revenue $7.4B and Cloud applications revenue $4.2B; remaining performance obligations $664B after booking more than $30B of Ai Cloud contracts; operating cash flow $23B and free cash flow $(5.0)B; Q2 revenue growth guidance 30%-34% vs est +32%, Cloud revenue growth guidance 65%-71%, and adj. EPS guidance $1.85-$1.93 vs. $1.89 est.; FY27 revenue guidance at least $90B vs. $89.76B est. and adj. EPS guidance $8.10 vs. $8.07.
• Frequency Electronics (FEIM) Q1 EPS $0.41 vs. est. $0.22; revenue $23.5Mm vs. $17.9Mm est.; operating Income $5.2Mm; funded backlog reached a record $129Mm.
• Lightpath Technologies (LPTH) Q4 revs rose 73.8% y/y to $21.2M vs. est. $20.6M; Q4 Gross margin rose 17.4 percentage points to 39.4, while non-GAAP adjusted EBITDA swung to a profit of $2.1M from a loss; Q4 backlog climbed 197% to about $110.9M.
• OpenAI is reportedly considering slowing down the development of cutting-edge artificial intelligence, and the ChatGPT maker’s CEO Sam Altman is hoping other AI companies will do the same. Altman told employees that OpenAI could potentially pace its AI development — perhaps in conjunction with several other AI labs, but that some may not agree to do so, Bloomberg reported.

Mid-Morning Look

Friday, September 11, 2026

Stocks bounce on last trading day of the week, but still on track for weekly losses. Despite the consumer price index (CPI) inflation report still firmly above the Fed’s 2% inflation rate, and above the prior month readings, Wall Street is higher as the S&P, Dow, and Nasdaq look to snap their 4 day losing streaks as oil takes a breather and Treasury yields slip, but both remain firmly higher on the week into next week’s FOMC meeting. Fed fund futures are now predicting a near 90% chance the FOMC raises rates at next week’s two-day meeting following the PPI/CPI data points the last two days. The CPI report followed Thursday's slightly hotter-than-expected Producer Price Index reading that did little to reassure investors. Gold prices firmed over 1%, rebounding from recent losses and finding a short-term floor despite strong U.S. inflation data lifting expectations of a Federal Reserve rate hike next week. The Consumer Price Index increased 0.4% last month after edging up 0.1% in July. In the 12 months through August, consumer inflation advanced 3.4% after rising by the same margin in July. Oil prices fell on Friday, but remained on course for a weekly gain. Tech got a better earnings result from Oracle (ORCL) overnight, giving a bounce to the Ai trade in a week that has been dominated by AI gloom/doom reports and tighter gov’t restrictions. There was no shortage of Middle East headlines overnight as Axios reported Saudi Crown Prince MBS called Pres Trump twice on Thursday urging him to launch strikes against the Houthis amid Red Sea threat; Trump declined with US officials stressed the admin has no plans to intervene directly against the Houthis for now. The WSJ had reported Iran has resumed producing ballistic missiles in underground facilities using stockpiled components; mainly assembling the new missiles in more limited quantities than before the war.

• University of Michigan surveys of consumers sentiment prelim Sept slipped to 47.8 (vs. consensus 51.0) and vs final Aug 51.7; the current conditions index prelim Sept 50.9 (consensus 51.3) vs final Aug 51.9 and the expectations index prelim Sept 45.8 (consensus 50.5) vs final Aug 51.5.
• University of Michigan surveys of consumers 1-year inflation outlook prelim Sept 4.6% vs final Aug 4.0%. University of Michigan surveys of consumers 5-year inflation outlook prelim Sept 3.4% vs final Aug 3.3%.

• Memory sector got a boost early from ORCL results (MU, SNDK, SKHY, WDC), as Oracle reported that sales from its cloud infrastructure segment, which rents out AI servers over the internet, rose 121% in the fiscal first quarter to $7.4 billion. Oracle's cloud infrastructure unit also represents the majority of the company's $664 billion backlog. Cloud infrastructure for AI uses both NAND and DRAM memory architectures to deliver ultra-high performance. Out of the two memory types, DRAM provides the high-speed working memory while NAND flash offers the dense, non-volatile long-term data storage. Shares were volatile as ORCL shares pulled back off highs and memory fell alongside.
• Airline sector: Barclays lowered targets in the airlines group saying energy prices are again sending ests lower despite continued yield gains. However, higher revenue should be the focus for long-term investors as this sets up for structurally higher margin potential if energy markets return to prewar level. Cut tgts on ALK to $52 from $65, ALGT to $115 from $145, AAL to $14 from $19, DAL to $95 from $105, ULCC to $5 from $7, JBLU to $5 from $7, LUV to $58 from $65 and UAL to $160 from $175.

• CDE +2%; as precious metals gold/silver miners rebound with the price of both rebounding.
• GME +4%; president, CEO, and chairman Ryan Cohen acquired 1M shares of Class A common stock on the open market for around $20.38M, boosting his direct ownership to 39.3M shares.
• KR +4%; posted Q2 non-GAAP EPS of $1.09 which beats by $0.04 and revs rose 2.1% y/y to $34.6B, also topping consensus while identical sales increased 0.1% y/y; backs FY26 adjusted EPS view $5.10-$5.30 (est. $5.20) but lowers FY26 identical sales w/o fuel growth to 0.2%-0.8% from 1%-2%.
• ORCL +1%; as Q1 revenue increased by 30% y/y, with cloud growth revenue rising by 62% to $11.6B, driven by a 121% surge in infrastructure revenue, which reached $7.4B. Oracle also signed >$30B of Ai contracts across a diverse set of customers, and management maintained their $90-95B CAPEX expectation. Q1 remaining performance obligations (RPO) jumped $209B to $664B

• EXEL -2%; after the FDA extended the review of its experimental colorectal cancer drug combination by three months, as the regulator will now make its decision by March 3, 2027. Exelixis submitted updated safety and efficacy data, which classified as a major amendment.
• OKLO -5%; terminates prior equity distribution agreement with sales agents on Sept 10, 2026, while enters equity distribution agreement with ten sales agents on Sept 11 saying they may offer Class A common stock with aggregate gross proceeds up to $1B.
• RH -1%; posted Q2 revenues up 2.6% to $922.2M; GAAP net Income rose 16.36% to $60.2M; Gross margin widened 2.7 percentage points to 48.2%, RH posted sales ahead and management narrowing FY26 sales guidance; anticipates a material ramp in sales in 2H from its new RH Estates line.
• SMR -8%; was downgraded to Sell from Neutral at UBS and cut its price target to $6 from $10 as competitors move toward construction while NuScale's estimated 5+ year build timeline and lack of firm customer commitments present meaningful challenges.
• ZUMZ -15%; shares tumbled after posting a wider Q2 loss and weaker-than-expected sales (EPS loss -$0.17 was missed by $0.03, while revenue fell 2.5% y/y to $208.96M); Q2 comparable sales declined -2.1% and the net loss widened to $2.7M from $1M a year earlier.

Closing Recap

Friday, September 11, 2026

U.S. stocks opened higher and stayed there throughout the trading day, snapping the 4 day losing streak for the S&P 500, Dow and Nasdaq, but still ended the week with declines ahead of next week’s FOMC policy meeting. Economic data was not favorable for a “dovish” interest rate outlook as this morning’s August CPI report was mostly in line, although monthly core inflation rose 0.3% versus 0.2% expected. Michigan Sentiment missed estimates at 47.8, and 1-Year Inflation Expectations were higher than forecast at 4.6%. The data followed a slightly hotter producer price index (PPI) on Thursday that sunk markets. Treasury yields remained higher, while the dollar was little changed and oil pulled back. Nine of eleven S&P sectors finished higher led by technology (XLK), Industrials (XLI) and Communications (XLC) all up over 1% while Healthcare (XLV) and utilities (XLU) lagged. For the week, the S&P 500 fell 0.8%, the Dow fell 1.6% and the Nasdaq fell 0.7%.

After the ECB raised interest rates this week as expected, several key Central bank meetings are coming up this week. The FOMC rate decision in Wednesday after 2 day meeting and now seen a 90% chance of a rate hike. Also next week on Wednesday the BCB policy announcement, on Thursday 9/17 The Bank of England policy announcement and Friday the Bank of Japan rate news (hike expected). U.S. data highlights for next week include the September New York and Philly Fed indices, August retail sales, industrial production and weekly jobless claims. The yen rallied to a seven-month high against the U.S. dollar this week, driven by expectations of faster Bank of Japan policy tightening.

Interesting stats: U.S. investors recorded net sales of $32.27 billion in equity funds during the week, their largest since $52.45 billion in disposals in the week to December 17, 2025, per LSEG Lipper data. U.S. large-cap funds posted record weekly outflows of $40.44 billion, while mid-cap funds recorded net sales of $682 million. In contrast, multi-cap funds attracted $3.52 billion and small-cap funds drew $274 million in inflows. 2) @Kobeissi Letter noted, "US housing affordability is rapidly deteriorating: The annual Income needed to afford an average home in the US surged +$4,107 in May, to a record $124,674 per year. This Marks the 3rd consecutive monthly increase, totaling +$9,734. By comparison, US median household Income stands at $86,159 per year. This brings the Gap between median household Income and the Income needed to afford an average home to $38,515, the largest Gap since July 2025. This is just $2,288 below the $40,803 record set in June 2024."

• University of Michigan surveys of consumers sentiment prelim Sept slipped to 47.8 (vs. consensus 51.0) and vs final Aug 51.7; the current conditions index prelim Sept 50.9 (consensus 51.3) vs final Aug 51.9 and the expectations index prelim Sept 45.8 (consensus 50.5) vs final Aug 51.5. UoM surveys of consumers 1-year inflation outlook prelim Sept 4.6% vs final Aug 4.0%. University of Michigan surveys of consumers 5-year inflation outlook prelim Sept 3.4% vs final Aug 3.3%.
• The U.S. federal budget deficit for August shrank to $167 billion due to smaller outlays including for ongoing refunds on illegally collected tariffs, a rare drop in interest payments and some calendar shifts in benefit payments. The budget gap for the 11 months through August exceeds the full-year fiscal 2025 deficit of $1.775 trillion. For August alone the budget gap was down 52% from a year earlier. Unadjusted outlays in August fell by 24%, to $527 billion. Interest payments on the federal debt fell by $14 billion. A Treasury official said the drop was due to changes in inflation accruals, and pointed to the fiscal year-to-date data showing an increase of $143 billion, or 13%.

• Gold prices ended flattish, rising $1.60 to settle at $4,408.90 an ounce and December silver gained $0.26 of 0.4% to finish at $65.19 an ounce in a quiet day for metals, but for the week gold and silver prices both finished with losses. Prices fell nearly 2% on Thursday after the U.S. Producer Price Index data showed prices increased in line with expectations in August.

• Treasury yields aren’t just hitting multi year highs in the U.S. but globally as the German 10yr highest since 2009 above 3.51%, while the Japan 10 year yield hit 2.985%, its highest since 1996. The European Central Bank (ECB) raised rates yesterday at its policy meeting while Nagel said that interest rates may have to be raised further to bring inflation under control. The FOMC policy meeting is next week and there is a better than 50% chance of a rate hike per fed fund futures heading into the meeting.

• Auto Retail sector: ACVA shares jumped CPRT agreed to acquire the digital dealer auction platform for $10.50 per share in cash, implying an equity value of about $1.9B. The offer represents a roughly 45% premium. Copart will fund the acquisition with cash on hand, with the deal expected to be neutral to EPS in the first full-year and accretive in FY2028 and beyond.
• Specialty Retail sector: ZUMZ shares tumbled after posting a wider Q2 loss and weaker-than-expected sales (EPS loss -$0.17 was missed by $0.03, while revenue fell 2.5% y/y to $208.96M); Q2 comparable sales declined -2.1% and the net loss widened to $2.7M from $1M a year earlier. GME president, CEO, and chairman Ryan Cohen acquired 1M shares of Class A common stock on the open market for around $20.38M, boosting his direct ownership to 39.3M shares.
• Food & Grocer sector: KR posted Q2 non-GAAP EPS of $1.09 which beats by $0.04 and revs rose 2.1% y/y to $34.6B, also topping consensus while identical sales increased 0.1% y/y; backs FY26 adjusted EPS view $5.10-$5.30 (est. $5.20) but lowers FY26 identical sales w/o fuel growth to 0.2%-0.8% from 1%-2%; SG shares advanced after the CDC said the cyclospora outbreak linked to more than 12,000 cases this summer has ended.

• Utilities and nuclear power sector: SMR was downgraded to Sell from Neutral at UBS and cut its price target to $6 from $10 as competitors move toward construction while NuScale's estimated 5+ year build timeline and lack of firm customer commitments present meaningful challenges. UBS now assumes only one project begins construction in 2028 and forecast approximately $700M of cumulative 2026-28 cash burn. OKLO terminates prior equity distribution agreement with sales agents on Sept 10, 2026, while enters equity distribution agreement with ten sales agents on Sept 11 saying they may offer Class A common stock with aggregate gross proceeds up to $1B.

• 1) AB said preliminary assets under management increased to $919 billion as of August 31, 2026, from $908 billion at the end of July. The 1.2% increase in AUM was driven by market appreciation, partially offset by net outflows.
• 2) APAM preliminary assets under management totaled $183.5 billion. Artisan Funds and Artisan Global Funds accounted for $94.5 billion of total firm AUM, while separate accounts and other AUM accounted for $89.0 billion.
• 3) IVZ prelim month-end assets under management of $2,562.1 billion, an increase of 4.7% versus previous month-end.
• 4) LAZ prelim assets under management totaled approximately $290.3 billion. The month's AUM included market appreciation of $3.7 billion, net outflows of $1.8 billion and FX appreciation of $1.5 billion.
• 5) TROW August month-end assets under management of $1.90 trillion. Net outflows for August 2026 were $7.9 billion.
• 6) VCTR reported Total Assets Under Management of $356.5B, other Assets of $3.7B, and Total Client Assets of $360.2B, as of August 31.
• 7) VRTS preliminary assets under management (AUM) of $147.5 billion and other fee earning assets of $1.7 billion for total client assets of $149.2 billion as of August 31, 2026.
• Private equity sector: BLK said withdrawal requests as their flagship private credit fund slowed in the third quarter, according to a regulatory filing on Friday. Investors in BlackRock's HPS Corporate Lending Fund sought to pull roughly 11.5% of shares, compared with 13.3% in the prior quarter. It will repurchase 5% of shares or roughly $600 million, the customary threshold ⁠for such vehicles.

• GSK said it will be shutting down a vaccine factory in Dresden, Germany, in the summer of 2027,citing decreasing demand for traditional egg-based flu vaccines. The closure would put 641 jobs at risk, according to German trade union.
• MedTech space remains weak with RMD falling for a 9th straight day; SYK down for a 9th straight day as Medtech remains weak spot; MTD up slightly after falling 7 straight days. SYK shares hit 52-week lows after saying earlier in the week at the Wells Fargo conference they are seeing manufacturing issues in peripheral Vascular business beyond Q3 as now expect it to continue a little bit into the fourth quarter as well.

• Metals & Mining: a rollercoaster ride this week for metals, as gold and silver prices rebound on Friday after tumbling on Thursday as Treasury yields ease off multi-year highs following today’s CPI data.
• Paper & Containerboard sector: IP was upgraded from Neutral to Buy at Bank America and raised tgt to $46 from $34 as continues to make forecast and rating changes heading into 2026's home stretch. The firm raises containerboard price forecasts, along with other grades.

• Also in software: ADBE shares fell as Q2 results were roughly in line with expectations, and net new ARR declined by ~38% Y/y; Q2 adj EPS of $6.13 beat by $0.05, while revenue rose 13% y/y to $6.76B, $60M above consensus, with subscription revenue at $6.58B and ARR reaching $27.5B. FY2026 adjusted EPS guidance was raised to $24.45-$24.50 from $24.35-$24.45, while mgmt maintained conservative FY26 total ARR guidance at 10.2%, hinting at another quarter of declining new net ARR.
• Cyber security: Wedbush assumed coverage of the cybersecurity sector with a positive stance on AI-native platform vendors and a negative stance on standalone vulnerability management vendors. Their view is not that AI-driven threat escalation converts into larger cybersecurity budgets, but rather that the budget is being re-distributed. With this spending concentrated across some platforms, note that vendor results are now starting to show that a handful of cyber platforms are emerging as long-term winners. Add PANW, RBRK to Best ideas list, downgrade VRNS.
• Memory sector got a boost early from ORCL results (MU, SNDK, SKHY, WDC), as Oracle reported that sales from its cloud infrastructure segment, which rents out AI servers over the internet, rose 121% in the fiscal first quarter to $7.4 billion. Oracle's cloud infrastructure unit also represents the majority of the company's $664 billion backlog. Cloud infrastructure for AI uses both NAND and DRAM memory architectures to deliver ultra-high performance. Out of the two memory types, DRAM provides the high-speed working memory while NAND flash offers the dense, non-volatile long-term data storage. Shares were volatile as ORCL shares pulled back off highs and memory fell alongside.

Street Recommendations

Friday, September 11, 2026

• ALGT Barclays analyst Brandon Oglenski lowered the firm's price target on Allegiant Travel to $115 from $145 and keeps an Overweight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• AAL Barclays lowered the firm's price target on American Airlines to $14 from $19 and keeps an Overweight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• DAL Barclays lowered the firm's price target on Delta Air Lines to $95 from $105 and keeps an Overweight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• ULCC Barclays analyst Brandon Oglenski lowered the firm's price target on Frontier Group to $5 from $7 and keeps an Underweight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• JBLU Barclays lowered the firm's price target on JetBlue to $5 from $7 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• LUV Barclays lowered the firm's price target on Southwest to $58 from $65 and keeps an Overweight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• UAL Barclays analyst Brandon Oglenski lowered the firm's price target on United Airlines to $160 from $175 and keeps an Overweight rating on the shares. The firm adjusted targets in the airlines group, saying energy prices are again sending estimates lower despite continued yield gains. However, higher revenue should be the focus for long-term investors "as this sets up for structurally higher margin potential if energy markets return to prewar levels," the analyst tells investors in a research note.
• ORCL Barclays raised the firm's price target on Oracle to $252 from $250 and keeps an Overweight rating on the shares. The firm sees investors revisiting the Oracle story post last night's fiscal Q1 report. The company's growth inflected and should continue to accelerate from here, the analyst tells investors in a research note. Barclays believes Oracle's funding setup looks better after the $20B at-the-market equity raise finished. It believes management addressed the delay and margin questions well.

• RH BofA lowered the firm's price target on RH to $114 from $156 and keeps an Underperform rating on the shares after the company reported Q2 results. Q3 guidance was below expectations and the firm is lowering its FY26E and FY27 EPS estimates by 7% and 18%, respectively. The firm sees limited signs that housing dynamics will significantly improve in the second half as mortgage rates remain high and sees risk to Q4 guidance, the analyst tells investors.
• WHR BofA lowered the firm's price target on Whirlpool to $31 from $38 and keeps an Underperform rating on the shares. The firm lowered its 2026 and 2027 adjusted EPS estimates to reflect weaker-than-expected appliance demand in North America, a more promotional environment, and incremental headwinds in Canada and Brazil.
• ACVA BofA moved to No Rating on ACV Auctions (ACVA) after Copart (CPRT) announced it will acquire ACV in an all-cash transaction valued at approximately $1.9B, paying $10.50 per share. Given the deal, the stock is no longer trading on fundamentals, the analyst says.
• AVAV BofA lowered the firm's price target on AeroVironment to $185 from $225 and keeps a Buy rating on the shares. While the firm believes the product portfolio is well positioned for Department of War priorities long-term, in the near-term it sees upside being limited by a combination of factors including weaker-than-initially-expected 2027 drone funding, a cash-burning transition year, and lack of a clear catalyst path, which it sees "justifying recent multiple compression."

• LOVE Canaccord analyst Maria Ripps lowered the firm's price target on Lovesac to $20 from $22 and keeps a Buy rating on the shares. The firm said its Lovesac's fiscal Q2 results were in line with expectations, with revenue and adj. EBITDA both within guidance and near consensus,while tariff refunds lifted gross margins and earnings above consensus.

• BOKF Hovde Group initiated coverage of BOK Financial with a Market Perform rating and $143 price target.

• CHWY JPMorgan downgraded Chewy to Neutral from Overweight with a price target of $24, down from $29, following the Q2 report. The company's organic growth remains under pressure from continued macro headwinds, the analyst tells investors in a research note. JPMorgan cites given the challenged industry backdrop and Chewy's "muted" organic growth for the downgrade. The firm remains positive on the company's market share gains, strategic growth initiatives, expanding profitability, and capital return profile.
• VRTX JPMorgan reinstated coverage of Vertex Pharmaceuticals with an Overweight rating and price target of $560, up from $515, following a period of restriction. Vertex continues to expand with the recent Crinetics acquisition adding exposure to endocrinology, the analyst tells investors in a research note. The firm expects immediate sales contribution from Palsonify, and, in time, atumelnant, to make the deal accretive to operating income by 2029.
• HIMS JPMorgan analyst Bryan Smilek assumed coverage of Hims & Hers with a Neutral rating and $32 price target. The company's compounding GLP-1 business faces headwinds, but the Novo partnership should more than offset these, the analyst tells investors in a research note.
• YELP JPMorgan assumed coverage of Yelp with an Underweight rating and $19 price target. The firm is positive on the company's AI transformation, but says visibility remains limited while macro dynamics remain unfavorable. JPMorgan looks for return to revenue growth at Yelp and further cost rationalization before recommending the shares.
• ZD JPMorgan analyst Bryan Smilek assumed coverage of Ziff Davis with a Neutral rating and $60 price target. The firm estimates that 35% of the company's traffic is web-dependent, of which 50% comes from search. Google AI overviews are appearing in 50% of Ziff's search queries, which is weighing on the company's search trends, the analyst tells investors in a research note.
• GETY JPMorgan assumed coverage of Getty Images with an Underweight rating and no price target. The firm is encouraged by Getty's focus on balance sheet optimization but says visibility is limited. It looks for strategic updates across the company's growth initiatives and balance sheet optimization before recommending the shares.
• ANGI JPMorgan analyst Bryan Smilek assumed coverage of Angi Inc. with an Underweight rating and no price target. The firm is positive on Angi's AI transition but says visibility remains limited while macro dynamics remain unfavorable.
• ADBE JPMorgan lowered the firm's price target on Adobe to $315 from $340 and keeps an Overweight rating on the shares. The company's fiscal Q3 results were "robust and beat expectations modestly," the analyst tells investors in a research note. However, JPMorgan says Adobe's Q4 revenue outlook tracked modestly below consensus given its focus on user acquisition. Despite a deceleration in revenue growth in fiscal 2027, the shares are inexpensive and offer a "low bar for upsides to the share price from a recovery in monetization," contends the firm.
• ATO JPMorgan downgraded Atmos Energy to Neutral from Overweight with a price target of $180, down from $198, after assuming coverage of the name. The shares trade at an 8% premium versus the company's utilities peers on 2028 estimates, the analyst tells investors in a research note. JPMorgan believes this premium paired with the absence of AI-driven load growth tailwinds for Atmos Energy limits material upside from here.

• CTVA KeyBanc initiated coverage of Corteva with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• DOW KeyBanc analyst Salvator Tiano initiated coverage of Dow Inc. with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• EMN KeyBanc initiated coverage of Eastman Chemical with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• IFF KeyBanc initiated coverage of IFF with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• LYB KeyBanc analyst Salvator Tiano initiated coverage of LyondellBasell with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• NTR KeyBanc initiated coverage of Nutrien with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• SHW KeyBanc initiated coverage of Sherwin-Williams with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• MOS KeyBanc analyst Salvator Tiano initiated coverage of Mosaic with a Sector Weight rating and no price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• AXTA KeyBanc initiated coverage of Axalta Coating with an Overweight rating and $47 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• CE KeyBanc initiated coverage of Celanese with an Overweight rating and $57 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• FMC KeyBanc analyst Salvator Tiano initiated coverage of FMC with an Overweight rating and $16 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• HUN KeyBanc initiated coverage of Huntsman with an Overweight rating and $14 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• LIN KeyBanc initiated coverage of Linde with an Overweight rating and $542 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• OLN KeyBanc analyst Salvator Tiano initiated coverage of Olin with an Overweight rating and $26 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• PPG KeyBanc initiated coverage of PPG with an Overweight rating and $133 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• RPM KeyBanc initiated coverage of RPM with an Overweight rating and $123 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• WLK KeyBanc analyst Salvator Tiano initiated coverage of Westlake with an Overweight rating and $92 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese.
• CF KeyBanc initiated coverage of CF Industries with an Underweight rating and $115 price target. The firm rolled out coverage on 19 chemical and agriculture companies, with nine Overweights, nine Sector Weights, one Underweight. The analyst views the pickup in merger activity, the upcoming agriculture upcycle, and industrial acceleration as the key themes for the sector. However, stock-picking is "tougher with major conflicting trends" in petrochemicals due to war tailwinds against structural oversupply headwinds, the analyst tells investors in a research note. KeyBanc says agriculture is entering market upcycle against already elevated crop input prices while coatings faces pent-up housing demand against increasing rates. The firm sees the best risk/reward in "idiosyncratic and differentiated stories" Axalta Coating, Olin, Huntsman, and Celanese. KeyBanc says CF Industries is moving past peak nitrogen prices and earnings.

• CRH Morgan Stanley analyst Angel Castillo resumed coverage of CRH with an Overweight rating and $139 price target, which implies 53% upside. The firm views CRH as a "high-quality way to play construction." The company has exposure to infrastructure and data centers, strong pricing power, inorganic growth opportunities, and a relatively inexpensive valuation, the analyst tells investors in a research note.

• ORCL RBC Capital lowered the firm's price target on Oracle to $165 from $190 and keeps a Sector Perform rating on the shares. The company reported strong Q1 results with total revenue, cloud revenue and EPS all coming in ahead of consensus estimates, the analyst tells investors in a research note. RBC adds however that it remains watchful as Oracle navigates leaner margins and a capital-intensive infrastructure buildout.

• HUBS Stifel raised the firm's price target on HubSpot to $225 from $200 and keeps a Hold rating on the shares. Ahead of HubSpot's UNBOUND conference, the firm said it doesn't expect material top-line disclosures with near-term acceleration off the table and 2027 margin targets already in hand, but rather expects management will focus on its platform/AI strategy and plans to ease the adoption and monetization of its Agentic offerings.
• INSP Stifel analyst Jonathan Block raised the firm's price target on Inspire Medical to $80 from $75 and keeps a Buy rating on the shares. The stock has responded to Q2 results ahead of consensus and the midpoint of 2026 guidance being revised slightly higher to come off June lows, notes the analyst, who adds that while the bar is now higher, the firm continues to see favorable risk/reward with "a handful of potential catalysts around the corner."

• SUI Truist lowered the firm's price target on Sun Communities to $136 from $138 and keeps a Buy rating on the shares as part of a broader research note on Specialty REITs. Residential REITs sold off across the board over the past month, and while manufactured housing held up the best, investors are focused on transient RV softness, sluggish home sales/occupancy, and now US-Canada tariffs, the analyst tells investors in a research note. Truist adds however that it views the de-rating as overdone given 4%-5% long-term FFO growth, manufactured housing pricing power, no new supply, and a premium to apartments near the low end of its 10-yr range.

• RH UBS lowered the firm's price target on RH to $154 from $155 and keeps a Neutral rating on the shares. RH's Q2 print featured revenue and EBITDA that was slightly better than expected, but did not provide significant evidence that inflection embedded in the outlook for the rest of the year is realistic, the analyst tells investors in a research note.

• ADBE Wells Fargo raised the firm's price target on Adobe to $270 from $250 and keeps an Overweight rating on the shares. The firm notes Q3 results were largely in-line with Q4 NNARR improvement expected given enterprise seasonality and recent product announcements. Investors are likely to turn focus towards FY27 growth algo as company transitions to new CEO.
• RH Wells Fargo lowered the firm's price target on RH to $175 from $225 and keeps an Overweight rating on the shares. The firm notes Q2 sales/core EBITDA beat, investment cycle peaking and idiosyncratic levers suggest second half of the year is RH's time to shine. Like retail peers, tariff refunds mask a tougher cost/freight backdrop, Wells says, but top line matters more, and second half of the year building blocks appear in place via Estates momentum, new gallery sales and backlog reduction.

Rating abbreviations…

***OP = Outperform

***SP = Sector Perform

***UP = Underperform

***OW = Overweight

***EW = Equal-weight

***UW = Underweight

***Report powered by thefly.com***

What’s on Tap Weekly Calendar

• Earnings After the Close: HYFT KMTS PLAY RLGT

• H.C. Wainwright & Co., LLC 28th Annual Global Investment Conference, 9/14-9/16, in New York
• Morgan Stanley 24th Annual Global Healthcare Conference, 9/14-9/16 in New York, NY
• Piper 5th Annual Growth Frontiers Conference, 9/14-9/15 in Nashville
• China Retail Sales, Industrial Output, Houe Prices data

• 8:30 AM ET                   Empire Manufacturing data for September
• 8:55 AM ET                   Johnson/Redbook Weekly Sales
• 1:00 PM ET U.S. Treasury sells $18B in 20-yr notes
• 2:00 PM ET FOMC Policy rate meeting (two day meeting)     
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: EPM TCOM

• Goldman Sachs Global Retailing Conference, 9/14-9/15
• H.C. Wainwright & Co., LLC 28th Annual Global Investment Conference, 9/14-9/16, in New York
• Morgan Stanley 24th Annual Global Healthcare Conference, 9/14-9/16 in New York, NY
• Oppenheimer Fintech Leaders Conference, 9/15 in New York
• Oppenheimer AI Infrastructure Conference, 9/15 in New York
• Piper 5th Annual Growth Frontiers Conference, 9/14-9/15 in Nashville
• Stifel Immunology and Inflammation Forum, 9/15-9/16 (virtual)
• Truist Technology Conference - AI Transformation & Evolving Enterprise Debates, 9/15

• 8:30 AM ET                   Import Prices M/M for August
• 8:30 AM ET                   Export Prices M/M for August
• 8:30 AM ET                   Retail Sales M/M for August
• 8:30 AM ET                   Retail Sales M/M Ex: Autos for Aug
• 10:00 AM ET                 Business inventories for July
• 10:00 AM ET NAHB Housing Market Index for September
• 10:30 AM ET                 Weekly EIA Inventory Data
• 2:00 PM ET FOMC Policy rate meeting (two day meeting concludes)
• 4:00 PM ET                    Net Long-term TIC flows for July

• Earnings After the Close: ALMU LEN

• H.C. Wainwright & Co., LLC 28th Annual Global Investment Conference, 9/14-9/16, in New York
• Morgan Stanley 24th Annual Global Healthcare Conference, 9/14-9/16 in New York, NY
• Stifel Immunology and Inflammation Forum, 9/15-9/16 (virtual)
• Wells Fargo PP Texas Power & Gas Tour, 9/16-9/17, in Houston, TX

• 8:30 AM ET                   Continuing Claims
• 8:30 AM ET                   Housing Starts M/M for August
• 8:30 AM ET                   Building Permits M/M for August
• 8:30 AM ET                   Philly Fed Business Index for September
• 10:00 AM ET                 Pending Home Sales M/M for August
• 10:30 AM ET                 Weekly EIA Natural Gas Inventory Data

• Earnings After the Close: None

• Bank America 2026 Global Real Estate Conference, 9/15-9/17
• Oppenheimer 4th Annual Targeted Radiopharma Therapies in Oncology Summit, 9/17 in New York
• Wells Fargo PP Texas Power & Gas Tour, 9/16-9/17, in Houston, TX

• 9:15 AM ET                   Capacity Utilization for August
• 10:00 AM ET                 Leading Index M/M for August
• 1:00 PM ET                    Baker Hughes Weekly rig count data

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