Newsquawk Daily US Equity Opening News - SPCX seeks USD 40bln financing for NVDA chips; BULL China ties create national security risk

DAY AHEAD:

• EVENTS: US President will make an announcement at 13:00EDT/18:00BST, and will deliver remarks in San Antonio at 19:00EDT/00:00BST.
• ENERGY: The IEA will reportedly today discuss releasing up to 100mln barrels of diesel and crude pledged by G7 leaders, initially prioritising diesel. Elsewhere, DoE weekly energy inventory data are due today; afterhours on Tuesday, weekly data from the API reportedly showed headline crude stocks crude posted a draw of -2.1mln bbls, Cushing inventories built by +0.9mln bbls, gasoline stocks posted a draw of -1.4mln, distillate inventories saw a build of +0.5mln bbls.
• DATA: In North America, US NY Fed consumer inflation expectations survey is due; later, US consumer credit stats are released (prev. USD 18.06bln).
• CENTRAL BANKS: FOMC releases September meeting minutes (preview below). Poland’s NBP expected to hold (exp. 3.75%, prev. 3.75%).
• SUPPLY: US sells USD 39bln of 10yr notes, and announces a 20-30yr liquidity support buyback.
• FOMC MINUTES (19:00BST/14:00EDT): - The Fed unanimously hiked rates by 25bps in September, with the median participant projecting one more hike in 2026 and rates on hold through 2027. Since then, Williams and Jefferson have signalled no rush for further hikes and Bowman sees none, while softer PCE data and a soft jobs report, with unemployment rising to 4.2%, may leave the minutes stale. A full primer is available in Newsquawk’s week ahead note, available in the research suite.

• Apple (AAPL), LG Electronics (066570 KS) - Apple is preparing a smart home push with LG-developed accessories including a doorbell, thermostat, smart lock and security cameras, Bloomberg reports. The LG-branded products will work with Apple’s new home hub and support protocols including Matter and Thread. Apple’s own new home devices are expected to be unveiled on 13th October.
• LG Electronics (066570 KS) - Announced prelim Q3 figures that missed expectations: sees Q3 operating profit +13.5% Y/Y (but down by -50.5% Q/Q) of KRW 781.8bln (exp. 1.028tln), Q3 revenue +8.9% Y/Y and was broadly flat sequentially at KRW 23.827tln. LG said geopolitical instability and macroeconomic volatility weighed on results, although home appliances, vehicle components and TV operations remained profitable and companywide cost reductions helped offset higher logistics, material and fixed costs. The company continues to expand in AI businesses, including data centre cooling and robotics; it has secured a multiyear US agreement with AIR Control Concepts to supply chillers for AI data centres representing more than 5GW of capacity and plans to begin production at a new Virginia factory in H1 2027. LG expects annual new contract wins for data centre cooling solutions to reach several billion USD by end-2026, and expects to reach its 2027 chiller revenue target of USD 680mln ahead of schedule.
• AMD (AMD), Samsung Electronics (SSNLF) - AMD CEO Lisa Su plans to meet Samsung semiconductor chief Jun Young-hyun during her visit to South Korea, Bloomberg reports. The meeting comes amid persistent memory shortages and follows a March supply agreement covering next-gen HBM and advanced memory chips. Elsewhere, Su said the company plans to invest tens of billions across its global supply chains and has support from Samsung Electronics and SK Hynix (SKHY) for HBM.
• Intel (INTC), TSMC (TSM) - Intel CEO Lip-Bu Tan said it will continue working with Elon Musk on the Terafab chipmaking venture, Bloomberg reports. The commitment follows Musk’s disclosure that he is discussing Terafab collaboration with TSMC, which weighed on Intel shares after Intel became a Terafab development partner in April. Later, Elon Musk said Tesla (TSLA) will build and operate Terafab itself, adding TSMC could potentially sublease part of the facility, but would have no broader role.
• Micron (MU) - Micron’s Taoyuan union in Taiwan said it secured authorisation from members to strike.
• Anthropic - Expanding access to its most advanced AI models for verified organisations to conduct high-risk offensive cybersecurity testing with the US government. The programme includes Claude Opus 5.5, Claude Sonnet 5.5, Claude Mythos 5.1 and future models.
• Cirrus Logic (CRUS) - Acquired INVENTVM Semiconductor, an Italy-based fabless chipmaker specialising in mixed-signal power management and audio integrated circuits. The acquisition adds engineering expertise, intellectual property and supports expansion into additional applications and markets. Terms were not disclosed. Cirrus Logic said the deal will not have a material impact on revenue.
• FICO (FICO) - United Wholesale Mortgage reaffirmed its commitment to using FICO Scores on all credit pulls across its broker lending operations.
• Unity (U), Google (GOOGL) - Cos. partner on new AI gaming platform for the next era of interactive entertainment.
• CoreWeave (CRWV) - Enters India data centre market with AdaniConneX deal and to use 240 MW of capacity at AdaniConneX deal; Will have option to double capacity to 480 MW and first phase of project is expected in mid 2028.

• Nebius Group (NBIS) - COO Ophir Nave sold 500K shares on 5th October (around half his stake), in multiple transactions, at a price between USD 230.67-243.72 per share.
• Skydance (SKYD) - Skydance named board and adviser designees for the company formed through Paramount’s merger with Warner Bros. Discovery (WBD). David Ellison will chair the board and remain CEO, with Ynon Kreiz, Laurene Powell Jobs and Bobby Kotick joining as directors. Former UK PM Tony Blair will serve as a board adviser.
• Disney (DIS) - ABC and Walt Disney urged a judge to pause the FCC’s early review of eight ABC station licences, arguing the process chills free speech. The FCC says the reviews are legitimate, and tied to an employment discrimination investigations, while the judge is also considering the agency’s request to dismiss Disney’s lawsuit.

• Constellation Brands (STZ) - Shares fell over 4% in extended US trading as softer underlying beer demand and a reduced operating margin outlook outweighed stronger-than-expected quarterly earnings and sales. Q2 2026 (USD): Comp. EPS 3.74 (exp. 3.55), Revenue 2.63bln (exp. 2.54bln). Beer net sales +5% Y/Y, Wine & Spirits net sales +17% Y/Y; beer depletion growth was -0.6%, indicating softer underlying demand. Commentary: CEO said the Co. saw accelerating dollar and volume share gains across Beer and Wine & Spirits and was the top dollar share gainer in beverage alcohol during the quarter. It also announced the acquisition of SpikedAde for USD 75mln upfront, with up to USD 278mln of additional contingent consideration over five years. Guidance: FY27 comp. EPS 11.20-11.90 (exp. 11.71), organic net sales growth -1 and +1%, Beer net sales growth -1% and +1%, Wine & Spirits organic net sales growth -1% and +1%, operating cash flow USD 2.4-2.5bln, capex around USD 800mln and FCF USD 1.6-1.7bln. Lowered FY27 operating margin outlook to 31-32% (from 32-33%).
• Suntory (STBFY), Japanese Brewers - Suntory said it was inspected by Japan’s Fair Trade Commission over suspected antitrust violations related to alcohol transactions, Nikkei reports. Suntory is suspected of breaching antitrust laws in alcohol trading. Japan’s Fair Trade Commission announced inspections, and reportedly opened probes into four Japanese breweries over suspected cartel activity.

• Under Armour (UAA) - Frasers Group has built an 8.8% stake in Under Armour, acquiring 16.6mln shares, FT reports.
• Porsche (DRPRY) - Reaffirmed its 10-15% group operating return on sales target, targeting medium-term Automotive net cash flow margin of 9-12% and group sales of EUR 41-45bln; longer term, it targets 15% operating return, and 12% cash flow margin, plans around 20% higher top-end model pricing, and will cut around 9K jobs.
• Stellantis (STLA) - Unifor will hold strike authorisation votes among Stellantis workers 17-18th October after negotiations remained at an impasse; results are due on 19th October, and a strike would not automatically follow a successful vote.
• Volkswagen (VWAGY) - Volkswagen Financial Services UK set aside GBP 725mln for potential compensation to customers overcharged on car loans. The provision relates to the FCA’s GBP 7.5bln motor finance redress plan, which was partially suspended in July after legal challenges. VWFS said the final outflow could differ materially from the current provision.

• Chevron (CVX), Hess Midstream (HESM) - Chevron agreed to sell its Hess Midstream stake and DJ Basin crude midstream assets as part of a Bakken restructuring, Reuters reports. The deal will remove about USD 3.7bln of Hess Midstream debt from Chevron’s balance sheet, cut Bakken midstream costs by about 50%, and result in a one-time after-tax loss of USD 3-4bln. Hess Midstream cut its FY26 guidance, with adj. EBITDA now seen between USD 1.225-1.25bln (prev. 1.23-1.28bln) and net income USD 650-675mln (prev. 650-700mln).
• Shell (SHEL) - Began evacuating non-essential workers from its Stones, Mars, Olympus, Ursa, Vito and Appomattox offshore assets in the US Gulf of Mexico, Reuters reports. The move comes as a developing storm off Mexico is forecast to become a hurricane by Thursday, and cross offshore production areas before making landfall in Louisiana or Mississippi. Elsewhere, Shell sees company Q3 gas production at 740-780k BOEPD, and upstream production at 1,735-1,835k BOEPD.
• Repsol (REPYY) - Estimates Q3 total upstream production of 574K BOEPD, and a Spanish refining margin indicator of EUR 36.2/bbl.
• TechnipFMC (FTI), Petrobras (PBR) - TechnipFMC won a USD 75-250mln subsea contract from Petrobras to supply flexible pipe systems for multiple pre-salt developments offshore Brazil.
• IEA, Diesel Stocks - The IEA will discuss plans for an emergency release of up to 100mln barrels of diesel and crude pledged by G7 leaders, Bloomberg reports. The initial focus is expected to be diesel, with releases planned over four months, while EU bodies will coordinate their position ahead of and after the IEA meeting. It was later reported that EU countries broadly agree the G7 plan to make 100mln barrels of crude and diesel available should not require releases beyond commitments made in March; several member states also want the IEA to conduct an impact assessment before any further stockpile release.
• US Gas Tax - President Trump said he is considering suspending the federal gas tax to ease high energy costs. Trump provided no details on how seriously the proposal is being considered, or any steps toward seeking congressional approval.

• SpaceX (SPCX), Nvidia (NVDA), Apollo Global Management (APO) - SpaceX is seeking USD 40bln of financing led by Apollo to fund Nvidia chip purchases, the FT reports citing sources. The package comprises about USD 10bln of bank loans and USD 30bln of investment grade debt. Pimco (ALIZY) is reportedly among lenders in talks. The transaction is expected to close in 2027.
• Airbus (EADSY), Boeing (BA) - Saudia Group is preparing a substantial aircraft order for national carrier Saudia and Flyadeal, with deliveries targeted for 2031-2040, Bloomberg reports. The purchase requires board approval, with aircraft intended for fleet expansion and replacement. It has been previously reported that Saudi was in early talks with Boeing and Airbus for at least 150 jets.
• JetBlue (JBLU) - Won FAA approval to acquire 22 Spirit Airlines take-off and landing slots at New York’s LaGuardia Airport. JetBlue cannot lease or trade the slots until after April 2028.
• Maersk (AMKBY) - Maersk owner A.P. Moller Holding is opening its first office outside Denmark, in Singapore, to invest in Asian growth companies, Bloomberg reports. It plans minority investments of EUR 20-80mln in Series C through IPO-stage firms, focusing on applied technology including AI supply chains, fintech, healthcare and robotics.
• ZIM Integrated Shipping (ZIM) - Raised FY26 adj. EBITDA view to USD 2.7-3.0bln (prev. 2.0-2.4bln) and adj. EBIT view to USD 1.4-1.7bln (prev. 700mln-1.1bln), reflecting continued strong market demand and favourable freight-rate momentum. The midpoint of the updated outlook represents a 30% increase in adj. EBITDA and a 72% increase in adj. EBIT vs guidance issued in August.
• Panama Canal Shipping - Traffic through the Strait of Magellan rose more than 70% Y/Y in August and September, as ships diverted from the drought-hit Panama Canal, according to Chilean Navy data. Lower water levels linked to El Nino prompted Panama Canal restrictions, while Middle East disruptions also encouraged some operators to reroute via Magellan despite longer distances and higher fuel costs.

• BHP (BHP), Gold Fields (GFI) - BHP agreed to divest the Kambalda Nickel Concentrator and related tenements and mineralisation rights to Gold Fields. The deal is subject to conditions including regulatory approvals and is expected to complete in 2027. BHP’s remaining Western Australia Nickel assets remain suspended, with options including divestment, restart, continued suspension or closure to be reviewed by February 2027.
• Antofagasta’s (ANFGY) - Two unions at Antofagasta’s Centinela copper mine in Chile rejected further contract talks and are set to strike.
• Worthington Steel (WS) - Q1 adj. EPS 0.57 (vs 0.77 Y/Y), Q1 revenue USD 2.727bln (vs 872.9mln Y/Y). Net sales +212% Y/Y, reflecting the Kloeckner acquisition, which contributed USD 1.773bln; ex-Kloeckner, net sales +9% Y/Y, driven mainly by higher direct volumes and selling prices. Total volume rose to 1.94mln tons (from 928,866 tons), while adj. EBITDA increased to USD 111mln (from USD 78.8mln), adj. EBIT to USD 78.5mln (from USD 55.5mln). Declared a quarterly dividend of 0.16/shr. Net debt stood at USD 1.948bln at quarter-end.
• Chemical Stocks - The EU is moving to loosen pesticide rules after lobbying by Bayer, Copa-Cogeca and other industry groups, FT reports; proposed changes include removing 15yr reassessments, widening exemptions from bans and extending withdrawal grace periods to three years.
• Aussie Coal Exports - Australia’s High Court rejected Mach Energy’s appeal over the Mount Pleasant coal mine expansion, ruling planning authorities must consider Scope 3 emissions from customers burning exported coal, Bloomberg reports. The decision could complicate approvals across Australia’s AUD 70bln coal export sector, with around 30 new or expanded mine proposals seeking approval.

• Black Hills (BKH), Alphabet (GOOG) - Black Hills signed agreements through 2048 to supply a planned Google data centre in Wyoming. The project will use a 2.7GW resource mix, including 590MW of grid-connected supply and about 2.1GW of third-party resources.

• Webull (BULL) - Cos. China ties create national security risk, a congressional panel found, reports CNBC.
• HSBC (HSBC) - Plans sweeping job cuts across its UK wealth management business as it expands AI use, the FT reports. About half of management and specialist roles could go, while financial-adviser headcount may fall by around 70%. Affected staff are expected to leave by month-end following consultation.
• Goldman Sachs (GS) - Data was exposed in an EY cyberattack earlier this year. Goldman said its systems and client assets were unaffected and remain safe, while it is working with EY to support any impacted clients. The FT previously reported that Goldman’s wealth management division was affected.
• Apollo Global Management (APO) - President Jim Zelter said the Co. is exploring a larger role financing governments and state-backed companies as debt burdens rise, particularly in Europe, Bloomberg reports. Apollo is considering structures including moving hard assets into subsidiaries to raise capital, while also expanding financing in defence and AI infrastructure with limits on sector concentration.
• US Distressed Loans - JPMorgan said that deeply distressed US leveraged loans trading below 60c on the dollar rose to USD 65bln, the highest since March 2020. Loans trading at or below 80c reached USD 139.8bln, up nearly 90% Y/Y. Tech now accounts for 39% of distressed loans, totalling USD 54.4bln.

• Neogen (NEOG) Q1 2027 (USD): Adj. EPS 0.08 (exp. -0.07), Revenue 222.8mln (exp. 208.18mln). Guidance: Raises FY27; Revenue 885-890mln (prev. 880-885mln, exp. 883.17mln), Adj. EBITDA 181-183mln (prev. 180-182mln).
• Halozyme Therapeutics (HALO), Argenx (ARGX) - Halozyme expanded its global ENHANZE collaboration with Argenx to include two additional exclusive targets. Halozyme is eligible for milestone payments and royalties on net sales of products using ENHANZE. The companies previously collaborated on VYVGART Hytrulo for MG and CIDP.
• Qiagen (QGEN) - Announced new AI capabilities to accelerate analysis of complex biological and genomic data while retaining traceable scientific evidence.
• Bausch + Lomb (BLCO) - Said it made progress on BL1243, tonabersat, an investigational oral treatment for dry age-related macular degeneration, following a constructive FDA meeting. Co. said discussions clarified the clinical development path and plans to begin its dry AMD clinical programme in 2027.
• AbbVie (ABBV) - US FDA has granted two Breakthrough Therapy Designations for telisotuzumab adizutecan in colorectal cancer and non-small cell lung cancer.

• Saudi-US - The Trump administration is reportedly reluctant to deepen US involvement in Saudi Arabia’s offensive against Yemen’s Houthis, and has urged Riyadh to avoid a broader conflict, Bloomberg reports. The US is providing intel, targeting and refuelling support, but not offensive strikes.

• EU-US - The European Commission is considering a broad tax on very large companies, including Apple (AAPL), Meta (META) and Alphabet (GOOG), to raise EU revenue without singling out US tech groups, the FT reports. Brussels may revise its Corporate Resource for Europe proposal by raising thresholds, potentially excluding medium-sized firms.
• EU-China - The EU is preparing time-limited safeguards to cap imports of Chinese hybrid vehicles, potentially using tariff-rate quotas, Bloomberg reports. The measures could serve as a template for other sectors. The EU plans may change after upcoming trade talks with China.
• China-US - US House China Committee chairman John Moolenaar asked the Fed to review Hong Kong’s access to its FIMA dollar liquidity facility. He cited Hong Kong’s role as a financial centre for China, and its crackdown on pro-democracy advocates. The Fed said it received the letter and plans to respond.

• US Issuance - BNP Paribas warned that eliminating the US 20yr Treasury Bond could raise yields and reduce liquidity rather than lower borrowing costs. The bank said such a move could signal policy panic, and encourage bond vigilantes. BNP maintained a short recommendation on 30yr Treasuries, targeting a yield rise to 5.8%.
• Russia Plague - China said it is cooperating with Russia over a suspected pneumonic plague case in Siberia, while US President Trump said he would speak with Russia President Putin soon. The US sent a formal diplomatic request to Russia for information regarding the pneumonic plague deaths, WaPo said; the US CDC is monitoring the case, but sees no broader US threat; the WHO assesses public risk as low.
• French Fiscal - France’s government is prepared to use constitutional powers to bypass parliament and pass EUR 43bln of 2027 spending cuts if negotiations fail, WSJ reports. FinMin Lescure set red lines of keeping the deficit at or below 5% of GDP and avoiding growth-damaging measures, with executive orders available if parliamentary deadlock persists.
• ECB - ECB’s Moulin said the bond market situation in Europe is complicated, and France’s economic position is serious but not yet a crisis. Moulin said “we can act”, though stressed that the ECB is not responsible for addressing countries’ budgetary problems.
• BoJ - BoJ board member Sato (dovish) supports gradual rate hikes, but said there should be no pre-set pace, Kyodo reports. She said timing should depend on consumption and income, financial conditions remain accommodative. Inflation risks are somewhat skewed upward due to higher oil prices. She added that the BoJ should set policy independently while remaining consistent with the government’s fiscal stance.
• RBI - The Reserve Bank of India raised its repo rate by 25bps to 5.50%, its first increase in nearly four years, and shifted its stance to calibrated tightening. The central bank lifted its FY inflation view to 5.2% (from 5.0%) and sees growth at 7.1% (from 6.7%), and it signalled that further hikes are possible.