Daily Pre-Market News10/26/2026 8:13:07 AM ET

Geopolitical Tensions, AI Spending: Market on Edge Amid Fed Watch

In today's volatile market landscape, geopolitical tensions and macroeconomic pressures are converging to create a complex environment for investors. The escalation of US-Iran tensions has heightened uncertainty, with President Trump signaling a critical decision point on whether to pursue a diplomatic resolution or escalate military actions. This geopolitical risk is compounded by inflationary pressures that continue to challenge global economies, particularly as the Federal Reserve approaches a pivotal interest rate decision. Amidst this backdrop, sector-specific rotations are becoming increasingly pronounced. The airline industry is grappling with fluctuating fuel prices and demand uncertainties, while semiconductors face a dual challenge of supply chain disruptions and the sustainability of AI-driven capital expenditures. Energy markets, meanwhile, are experiencing volatility as oil prices surge to levels not seen since May, driven by geopolitical risks and supply concerns. Corporate developments are also at the forefront of market dynamics. Major tech giants like Google, Microsoft, and Amazon are navigating a risk-off sentiment as they report earnings. Investors are scrutinizing their spending plans, particularly in AI, with a keen eye on return on investment and profitability. The market's reaction to these earnings will be critical, as it reflects broader concerns about the sustainability of tech sector growth amid rising costs and inflationary pressures. The Federal Reserve's upcoming decision is a focal point, with markets pricing in a high probability of a hold on interest rates. However, the implications of Fed Chairman Kevin Warsh's statements could significantly influence market sentiment, especially with the midterm elections looming. The potential for a rate hike in December remains a key consideration, with the election outcome adding an additional layer of uncertainty. In this intricate interplay of geopolitical, macroeconomic, and corporate factors, investors are adopting a cautious stance. The market's risk-off mood is evident, with a shift towards safer assets as investors seek to protect gains amidst the uncertainty. As we navigate this challenging environment, the decisions made by central banks, corporate leaders, and geopolitical actors will be pivotal in shaping the market's trajectory in the coming weeks.

Companies Reporting Earnings Today

SymbolPriceChangeMarketCap
VZ44.6600-1.19%185552474800
WELL237.3200-0.03%171006149651
CDNS316.49002.21%87159130570
NUE258.11000.02%58558964360
PSA-PI17.05000.65%58124619971
PSA309.89000.25%57903566280
PSA-PQ13.6900-0.47%57903566277
PSA-PL16.13000.00%57871808391
PSA-PR13.93000.14%57844609158
PSA-PM14.30000.00%57761558755
PSA-PJ16.5300-0.02%57750728314
PSA-PG17.5000-0.11%57717931110
PSA-PS14.26000.14%57584344684
PSA-PO13.5000-0.07%57577089641
PSA-PF17.7900-0.50%57470812643
PSA-PN13.52000.19%57220657495
PSA-PK16.4400-0.72%41616724571
PSA-PH19.6300-0.25%40588750892
HIG136.7600-1.93%37044454994
CLS260.0100-3.35%32790121110
CINF176.3000-1.11%27058179334
BRO72.9700-2.04%24416517750
PFG108.5650-1.40%23244309325
HIG-PG22.19001.79%16483820220
CX10.20000.89%14798494805
SUI120.24000.32%14645352240
SMMT15.4700-0.51%12341186343
BMRN55.9500-1.20%10830451816
GGB5.10000.59%10034122408
AMKR39.30000.64%9764163600
RMBS85.6500-0.09%9289736297
BRX28.1300-0.46%8632309360
NE47.70008.53%7614923400
SSD184.3600-1.37%7555939292
ARE43.0200-0.72%7496148960
PSMT170.9500-0.37%5275606578
PECO38.36000.18%4936932000
ITGR126.5400-0.02%4301988732
MMYT42.0900-7.17%3958928999
DORM125.2400-1.76%3716574398
AGYS120.69000.52%3404156554
ARLP26.14001.12%3363141058
PRK182.9900-0.38%3305567958
PII54.8200-3.30%3119449870
BOH70.60000.48%2785198240
HWKN132.3200-0.64%2762195481
BOH-PA14.3400-0.35%2762154151
HTO58.90000.41%2465365520
NWBI15.48000.26%2266218130
MBINL23.19000.30%2249587530
MBINN18.7700-0.32%2249587522
MBINM25.35000.12%2249587519
CTOS9.06002.14%2061200147
GABC50.8400-0.55%1910506192
WHR28.1100-2.40%1832754516
FSUN39.81000.71%1749664110
BLX53.9100-2.65%1549190106
LKFN58.3900-0.80%1451449278
HBT36.24000.00%1317889779
TWO12.18001.08%1280541328
LEG9.2000-1.29%1256618754
PDM9.68000.52%1211285746
CRI32.6000-3.92%1196784631
GBX38.0900-1.78%1178492640
NBN128.7400-0.09%1101417046
FSBC44.0900-0.16%1081818694
DEA22.67000.44%1072780672
KFRC58.50009.02%1047676500
BFST31.8000-0.44%1035086820
CARE30.5700-0.42%677550423
CBNK41.29000.24%672632970
VLRS5.6800-0.18%652923776
BSRR41.74003.29%541092316
UHT37.6700-0.37%523563426
NRC21.93002.57%485082828
TRTX6.28000.96%482109377
TRTX-PC16.3000-0.67%475751996
FLXS84.1800-0.94%450828515
CBK32.22000.16%441454887
ULH16.7400-3.52%441397056
BMRC27.1100-0.84%439024762
BBBY4.35000.00%414687240
PCB28.6400-0.49%402237401
WSBF19.9500-0.60%358641709
CFFI107.3300-0.83%349003995
AVBH31.70000.44%347919261
LVWR1.6500-0.60%338930554
PSA-PP13.92000.29%336168000
METCB3.8500-1.03%328569618
CLW19.29001.31%311104568
ISBA38.69000.03%295160980
RMBI15.9000-0.56%254998524
OVBC47.32000.68%222924567
CZWI21.4200-0.37%206707927
CBFV38.65000.89%196403067
MNSBP23.9400-0.08%178324847
MNSB24.4300-1.01%173967887
ABOS1.9800-3.88%143188224
SRBK18.8800-0.26%137897122
MED11.8700-2.47%132714909
NXH1.640010.81%111812304
AEYE8.0800-0.25%101562966
ULBI6.0700-1.78%101146043
FNWB9.65000.00%91787085
ATLX1.93001.58%58092614
NPT1.600012.68%35496000
ZDGE2.7100-3.21%35415987
KOSS3.4550-0.72%32706543
SDA0.3074-2.69%17205115
DSS0.5081-5.38%5102594
CGTL2.6400-5.04%3042832

6-K/8-K Form Update

ORKA

Oruka Therapeutics, Inc. announced promising Week 16 results from its Phase 2b EVERLAST-B clinical trial of ORKA-001, an investigational half-life extended IL-23p19 monoclonal antibody, for moderate-to-severe plaque psoriasis. The trial showed 61% of patients in the 600 mg group achieved PASI 100, compared to 0% in the placebo group (p<0.0001), with a favorable safety profile. Oruka plans to initiate Phase 3 trials in the first half of 2027, subject to regulatory interactions.

XNCR

Xencor, Inc. disclosed updated results from the Phase 1 study of XmAb819, an ENPP3 x CD3 bispecific antibody, in patients with advanced clear cell renal cell carcinoma (ccRCC) in an 8-K report filed on October 25, 2026. The company expects its cash to fund research and development programs and operations through 2029, subject to risks and uncertainties such as changes in operating plans and clinical trial outcomes. Xencor also announced a presentation on October 26, 2026, detailing these results on the "Investors" section of its website.

RRC

Range Resources Corporation agreed to merge with EQT Corporation and its subsidiaries, forming wholly owned subsidiaries of EQT upon completion. The merger, subject to shareholder approval and regulatory compliance, will result in Range stockholders owning approximately 27% and EQT stockholders 73% of the combined entity. Both companies have agreed not to solicit competing proposals and have established termination rights and fees.

VZ

Verizon delivered record-breaking results for the third quarter of 2026, achieving 406,000 postpaid phone net additions, the strongest performance in five years and the best quarterly growth in over a decade. The company's mobility and broadband service revenue reached approximately $23.5 billion, up 2.9 percent year-over-year, while total operating revenue was $34.3 billion, up 1.5 percent year-over-year. Verizon expanded its partnership with Amazon Web Services with a landmark $2 billion+ AI infrastructure deal, raising its full-year guidance for key metrics.

GETY

Getty Images Holdings, Inc. entered into a Restructuring Support Agreement (RSA) with its majority shareholders and certain holders of its outstanding funded indebtedness, contemplating debtor-in-possession financing of up to $143.0 million. The company subsequently filed for Chapter 11 bankruptcy protection and secured a $143.0 million debtor-in-possession (DIP) term loan facility from Cantor Fitzgerald Securities and other lenders. This DIP Facility, secured by liens on the company's assets, includes $85.0 million in interim loans, $28.0 million in final loans, and up to $30.0 million in delayed draw loans, with interest accruing at Term SOFR plus 5.00% per annum or a base rate plus 4.00% per annum.

ZEOX

ZEO ScientifiX, Inc. has agreed to expand its U.S. manufacturing and commercialization platform in partnership with Pluri Inc. Pluri will own 50% of ZEO upon closing, following the completion of transaction steps. ZEO contributes biologics manufacturing and scientific expertise, while Pluri brings cell-based product development experience and scalable manufacturing methods. This collaboration aims to enhance offerings in regenerative medicine, aesthetics, wellness, and longevity markets.

LKFN

Lakeland Financial Corporation reported record third quarter net income of $28.9 million, a 9% increase from the same period in 2025, and diluted earnings per share of $1.14, up 11% from $1.03. Total revenue grew by 6% to $73.0 million, with year-to-date net income reaching $83.8 million, a 14% increase. Loan growth was 8% to $5.68 billion, and the company's total capital as a percentage of risk-weighted assets was 15.56%, exceeding the regulatory threshold for well-capitalized status.

VRT

Vertiv Holdings Co. completed the acquisition of King Environmental Services Ltd., expanding its thermal management services into Europe, the Middle East, and Africa. This move complements its North American presence and aligns with its strategy to enhance customer support across the thermal chain. The financial terms were not disclosed and are not expected to impact Vertiv's financial results significantly.

CLYM

Climb Bio, Inc. announced initial Phase 2 data for budoprutug, its anti-CD19 monoclonal antibody, targeting primary membranous nephropathy and minimal change disease. The trial evaluated budoprutug at three dose levels, with the 200 mg cohort showing B-cell depletion and immunologic remission at Week 12. The 600 mg cohort indicated greater drug exposure and deeper B-cell depletion, while the 1000 mg cohort enrollment continues, with further data expected in 2027. Budoprutug has been generally well-tolerated across cohorts.

AMAN

Amanat Acquisition Corp agreed to a complex Business Combination with Corxel Pharmaceuticals, Inc., and Corxel Pharmaceuticals Limited. The deal involves domesticating Amanat from the Cayman Islands to Delaware, merging Cairo Merger Sub with Corxel, and subsequently merging the surviving entity with a wholly-owned subsidiary of Amanat. Upon completion, Corxel common stock will be converted into New Corxel Common Stock based on a $200 million equity value, and Amanat Class A Shareholders will have the option to redeem shares for cash.

OACCW

Oaktree Acquisition Corp. III Life Sciences (OAC) extended its deadline to complete a business combination from October 25, 2026, to November 25, 2026, with the possibility of further extensions up to May 25, 2027. The Extension Amendment Proposal received overwhelming support, with 17,956,072 votes in favor and 802,517 against. Additionally, shareholders redeemed 11,331,102 Class A ordinary shares for approximately $122 million.

ELME

Elme Communities faces imminent delisting from the NYSE due to "abnormally low selling price" levels, with trading of its common shares suspended. The NYSE initiated proceedings under Section 802.01D of its Listed Company Manual, and Elme, following its approved Plan of Sale and Liquidation, does not intend to appeal. The shares are expected to commence OTC trading under the symbol "ELMES" on October 26, 2026, with the share transfer books closing on November 5, 2026, ahead of the company's voluntary dissolution on November 6, 2026.

AVBP

ArriVent BioPharma, Inc. announced initial Phase 1 data for its CDH17-targeted ADC ARR-217 in gastrointestinal cancer patients at the European Society for Medical Oncology Congress 2026. The multicenter study, conducted in the US and China, evaluated ARR-217's safety, tolerability, efficacy, and pharmacokinetics in patients with unresectable, locally advanced, or metastatic solid tumors, focusing on colorectal, pancreatic, and other GI cancers. Key highlights include a 44.8% objective response rate and a 93.1% disease control rate at a 6mg/kg Q3W dose in pre-treated colorectal cancer patients, with a manageable safety profile. The company plans to advance ARR-217 into Phase 1b dose optimization at doses of 5 and 6 mg/kg Q3W.

RDPTF

Radiopharm Theranostics Limited secured an $8 million advance on its FY26 Research and Development Tax Incentive (RDTI) from Rockford Capital, backed by the anticipated RDTI from the Australian Taxation Office. The advance, bearing commercial interest, is earmarked for supporting the clinical trial pipeline and general working capital, with repayment due by October 26, 2027. The company also announced the receipt of this advance in a public notice on October 26, 2026.

AZUXY

Azul S.A. has secured a financing facility of up to R$2.0 billion, backed by the Brazilian Federal Government through ABGF, using resources from the Export Guarantee Fund. The net proceeds will exclusively fund aviation fuel for its domestic operations. This move aligns with Azul's long-term strategy, enhancing liquidity and financial flexibility amid volatile fuel prices.

IMTX

Immatics N.V. announced updated clinical trial data from its phase 1b study with IMA402 PRAME TCR bispecific (TCER®) in a heavily pretreated patient population. As of June 1, 2026, 126 patients across multiple tumor types, primarily melanoma and ovarian cancer, received at least one infusion of IMA402. Within the efficacy population, 31 patients with high PRAME expression levels showed prior treatment with immune checkpoint inhibitors or platinum-based chemotherapy.

GCUMF

Gunnison Copper Corp. began trading on the NYSE American under the ticker "GUNN" on October 26, 2026, marking a significant milestone in its growth and capital markets development. The listing of Gunnison's Level II ADRs, representing 30 common shares each, expands access to U.S. investors amid rising demand for American-made copper. The Company's flagship Gunnison Copper Project is projected to produce approximately 175 million pounds of copper annually over a 21-year mine life, with a total production of over 3.2 billion pounds and a US$2.0 billion after-tax NPV (8%), a 22.5% IRR, and a 3.9-year payback, based on US$4.60/lb copper.

INMD

InMode Ltd. is undergoing a special committee review process initiated by its Board following the expiration of a proposal involving the CEO. The independent Special Committee is evaluating acquisition proposals and strategic alternatives to determine the best course of action for the company and its shareholders. The Committee emphasizes confidentiality to protect sensitive information and maintain an orderly process, with further updates to be provided as appropriate.

FURY

Fury Gold Mines Limited reported significant gold intercepts from its Phase 2 drill program at the Eau Claire Gold Project in Quebec. The results include 14.95 g/t gold over 4.25 metres at hole 26EC-131 and other notable intercepts, demonstrating strong grade and geological continuity. These findings are expected to enhance the conversion of the Inferred Resource to the Indicated category in a future update, supporting the expansion of the indicated mineral resource.

MMYT

MakeMyTrip Limited reported unaudited second quarter fiscal 2027 results, showing revenue of $235.155 million, up 11.2% year-over-year in constant currency. Gross bookings reached $2,724.652 million, up 20.9% YoY, with significant growth across air ticketing, hotels, packages, and bus ticketing. Adjusted operating profit improved to $46.170 million from $20.067 million in the prior year quarter.

BNTX

BioNTech SE and DualityBiologics Co., Ltd. announced positive topline results from the global Phase 3 DYNASTY-Breast02 clinical trial, evaluating trastuzumab pamirtecan in HR+HER2-low metastatic breast cancer. The trial met its primary endpoint, showing a statistically significant improvement in progression-free survival compared to chemotherapy in chemotherapy-naïve patients who progressed on endocrine therapy. While overall survival data remain immature, the safety profile aligns with previous trials, noting a higher rate of interstitial lung disease, mostly Grade 1 and 2, with severe events in a small patient subset.

HMDCF

Hutchmed (China) Limited announced positive results from the SAFFRON global Phase III trial, demonstrating that ORPATHYS (savolitinib) plus TAGRISSO (osimertinib) significantly improved progression-free survival (PFS) and overall survival (OS) in patients with EGFR-mutated non-small cell lung cancer (NSCLC) who had progressed on prior TAGRISSO treatment. The combination reduced the risk of disease progression or death by 45% and death by 32% compared to chemotherapy, with an estimated 36% of patients being progression-free at one year versus 10% in the comparator arm. Hutchmed has submitted a New Drug Application to the US FDA for this treatment strategy.

CXMSF

Cemex, S.A.B. de C.V. reported robust third-quarter results, with sales growing 8%, EBITDA increasing 12%, and EBIT rising 19%. The company achieved a record Free Cash Flow from Operations of US$723 million, up 34%, and made progress on its asset pruning initiative, with divestment proceeds exceeding US$200 million. Cemex also sold its ready-mix and recycled concrete assets in Atlanta and secured a long-term supply agreement with Vicat Group for assets in southeastern France.

NBP

NovaBridge Biosciences announced promising results from its Phase 1b study of givastomig, a Claudin 18.2 x 4-1BB bispecific antibody, in combination with nivolumab and chemotherapy for HER2-negative first-line metastatic gastroesophageal adenocarcinoma. The study, with nearly 18 months of median follow-up, reported an objective response rate of 79% and a median progression-free survival of 16.9 months at the 8 mg/kg dose, with a manageable safety profile. NovaBridge has aligned with the FDA on a global registrational study protocol, positioning givastomig as a registrational-ready program.

BORR

Borr Drilling Limited confirmed an incident involving the Prospector 5 drilling rig during jacking operations offshore Gabon on October 24, 2026. The rig experienced a punch through event, resulting in loss of stability and subsequent sinking, with 115 personnel onboard at the time. While 110 individuals have been safely accounted for, five remain unaccounted for, prompting ongoing search and rescue operations. Borr Drilling is prioritizing the safety and wellbeing of all personnel, collaborating with local authorities and BW Energy to manage the situation.

Pre-Market Options Data