Edgen AI operates independently of, and is not controlled by Aspen Digital Financial Limited.
Fed October hike odds top 70% as inflation hits 4-year high
Edgen Stock·Sep 23 2026, 17:25Share to
Share to
Copy link
[1] Market sees next Fed hike in October, following Barr comments and hot inflation reading (https://www.cnbc.com/2026/09/23/market-sees-n ...)[2] The Odds of an Oct. 28 Fed Rate Hike Are Soaring, and President Donald Trump Is, in Part, to Blame (https://www.msn.com/en-us/news/other/the-odds ...)[3] Stock Market Today: S&P 500 −0.54%, Nasdaq −1.06%, Dow −0.18% as 10-Year Hits 5.058%, PAYX −6.6% - TradingNEWS (https://www.tradingnews.com/news/nasdaq-drops ...)
Related News
Sep 23 2026, 17:31
Citi lifts Micron target to $1,300 on DRAM pricing strength
Citi raised its Micron Technology price target to $1,300 from $1,150 and kept a Buy rating, after lifting its August and November quarter estimates on stronger-than-expected DRAM pricing and continued undersupply across DRAM and NAND. "Stronger-than-expected DRAM pricing and continued undersupply across both DRAM and NAND markets" drove the estimate increases, Citi analyst Atif Malik said in the note. The bank now models blended DRAM average selling prices rising 20% quarter over quarter in the current period and another 13% in the following quarter, with NAND pricing up 34% and then 15%. The revised target implies roughly 19% upside from Tuesday's close of $1,096.16. Micron shares traded near $1,093 on Wednesday, down about 0.3%, after a four-session rally that included a 5% gain on Tuesday and pushed the company's market value above $1.2 trillion. The stock touched a 52-week high of $1,255. Citi's estimate changes put fiscal fourth-quarter revenue at about $51 billion and earnings at $31.45 per share, both above current consensus. Micron reports fiscal fourth-quarter results on September 30, roughly two weeks before SEMICON West, which runs October 13 to 15 in San Francisco. Citi expects equipment suppliers there to discuss shortages in DRAM, multilayer ceramic capacitors, printed circuit boards and optical components — constraints that would limit how quickly memory makers add capacity. The bank estimates DRAM and NAND supply growth stays in the low-20% range and expects prices to peak around the second quarter of 2027. Wells Fargo moved the other way on the same day, cutting its Micron target to $1,400 from $1,525 while keeping an Overweight rating. Analyst Aaron Rakers said the next phase of the stock's performance depends on investors gaining confidence in the duration of the memory shortage, on expanding Strategic Customer Agreement engagements, and on Micron's execution. Wells Fargo's target remains the higher of the two. The split leaves Citi's new number below the collective Wall Street expectation, which caps the implied upside it signals. Michael Burry added to his Micron shorts "in some size" on Tuesday, pointing to Acer CEO Jason Chen's commentary that Chinese memory production could eventually ease supply constraints and pressure prices. Retail sentiment on Stocktwits moved to bullish from neutral over the past day. For holders, the call is a bet that contract pricing, not unit volumes, carries Micron's earnings through the fiscal year — Citi's DRAM ASP assumptions are the number to track. The September 30 report is the first test of whether realized pricing matches the estimate hikes, and SEMICON West commentary on capacity constraints follows two weeks later. This article is for informational purposes only and does not constitute investment advice.
Sep 23 2026, 17:16
Innodata jumps 14.6% as Hunterbrook ties it to Meta's Muse
A research report linking Innodata Inc. to Meta Platforms' new Muse AI assistant drove the data-services provider up 14.6% in the prior session, with trading volume running above its recent average. Hunterbrook Media identified Innodata as a partner training Muse and estimated that Meta is the company's largest customer, potentially accounting for 58% of projected 2025 revenue. Hunterbrook Capital separately disclosed a long position in the stock, a holding it said was taken on the strength of its findings about Innodata's role in the generative AI supply chain. The single-session gain stands out against a thin fundamental backdrop. The latest trend in earnings estimate revisions for Innodata does not point to further strength, leaving the rally resting on a customer-concentration thesis rather than on analysts raising their forward numbers. The elevated volume suggests the move drew fresh positioning rather than routine turnover. For holders, the setup cuts both ways. A 58% revenue tie to one customer is a powerful demand signal if the Meta relationship is confirmed and expands, but it is also a concentration risk that leaves Innodata exposed to any change in a single client's AI spending plans. The stock's next test is whether sell-side analysts revise their estimates upward to match the Hunterbrook thesis; without that confirmation, the 14.6% jump remains a headline-driven move that could retrace once volume normalizes. This article is for informational purposes only and does not constitute investment advice.
Sep 23 2026, 17:14
Meta price targets hit $900 as analysts price AI revenue beyond ads
Two Wall Street firms pushed their Meta Platforms targets sharply higher on Sept. 23, with KeyBanc's Justin Patterson moving to $900 from $780 and Cantor Fitzgerald going to $860 from $680, both maintaining Overweight ratings. The revisions rest on momentum around Muse, the company's personal AI agent, and on revenue lanes the analysts now expect to open beyond advertising. "Meta now has multiple paths to drive revenue growth," Patterson wrote, pointing to product innovation that he expects to accelerate medium-term revenue and earnings growth and support multiple expansion. The two calls extend a run of upward revisions on the stock. Wells Fargo analyst Ken Gawrelski raised his target to $796 from $640 on Sept. 21, ahead of the company's annual Connect developer conference, which begins Wednesday. Meta shares traded near $756.15 on Sept. 23, up 37.6% over the prior month and 12.9% over the prior week, according to 24/7 Wall St. data. At $900, KeyBanc's target implies roughly 19% upside from that level; Cantor's $860 implies about 13.7%. | Firm | Analyst | Rating | Old PT | New PT | |------|---------|--------|--------|--------| | KeyBanc | Justin Patterson | Overweight | $780 | $900 | | Cantor Fitzgerald | — | Overweight | $680 | $860 | | Wells Fargo | Ken Gawrelski | Overweight | $640 | $796 | Cantor Fitzgerald framed personal agents as a potential "third S-curve" in AI, with Meta positioned as a leading beneficiary. The firm called Muse a "competitive model" trained to lead in agentic tasks and said that while unit economics are currently subsidized, it sees "several paths to a profitable freemium model." Meta launched Muse earlier this month with a free tier and paid plans at $20 and $100 per month depending on usage, rolling out in the United States across iOS, Android, the web and WhatsApp, with support on the company's AI glasses planned. The bull case rests on the idea that an assistant which books travel, sends emails and fills out forms sits closer to commerce than a feed does, widening what Meta can sell to advertisers and to end users. Meta's Advantage Plus suite has reached an annual revenue run rate above $75 billion, and business agents on WhatsApp represent a second subscription surface. The counterweight is spending. Meta reported Q2 FY2026 revenue of $60.80 billion, up 27.96% year over year, with advertising revenue of $59.36 billion, up 27%. Diluted EPS came in at $6.18 against a $7.22 consensus, missing by $1.04 as costs rose on $2.40 billion in legal charges and $1.18 billion in severance. Capital expenditure reached $31.1 billion in the quarter, and management guided FY2026 capex to $130 billion to $145 billion to fund AI infrastructure. Operating margin compressed to 31% from 43% a year earlier. Not every analyst accepts the thesis. Oppenheimer's Jason Helfstein has been skeptical that Muse will reach a scale that matters financially, citing paid-conversion challenges, competition and consumer trust concerns. The stock's 62-analyst consensus stands at Buy, with 47 buy ratings, eight strong buys and seven holds, per 24/7 Wall St. Meta carries a market cap near $1.67 trillion and trades at a price-to-earnings ratio of about 25 to 27, below the multiple the market assigns to several AI peers. The 2026 consensus EPS sits at $31.43, rising to $33.94 for 2027, on revenue estimates of roughly $254 billion and $306 billion respectively. The re-rating is Meta-specific rather than a sector-wide verdict on agentic AI. Alphabet traded up 2% on the day of the Wells Fargo call while Microsoft was essentially flat, and the Technology Select Sector SPDR ETF gained 1.72%, so the sector wind helped without doing the heavy lifting. For holders, the targets now embed usage numbers Meta has not disclosed. Connect is the first test, and the company reports Q3 FY2026 results on Oct. 28, which will show whether the revenue paths analysts are pricing have begun to appear in the income statement. Until then, the gap between a $900 target and a 31% operating margin is the whole debate. This article is for informational purposes only and does not constitute investment advice.