Newsquawk Daily US Equity Opening News: DOW weighs exit from $20b Saudi chemicals venture; GOOG to invest $15bln in Finnish AI infrastructure

US EQUITY NEWS:

TECH

• Apple (AAPL) - Later today the tech giant is widely expected to unveil a folding iPhone at a launch event at its Cupertino, California, headquarters.
• ASML (ASML) - PT cut to EUR 1,700 (prev. 1,930) at Morgan Stanley, stating that near-term overhangs around China, capacity and margins are likely to constrain the multiple.
• ServiceTitan (TTAN) - Q3 revenue view USD 285-287mln (exp. 287.87mln).
• Analog Devices (ADI) - Announced a definitive agreement to acquire Alif Semiconductor in an all-cash transaction for USD 1.35bln.
• OpenAI - Offers AI for chip design and touts cost advantage over open source. Separately, OpenAI's Tibo said "Demand for Astra is really unprecedented" and "priority will always be to keep excellent service for existing users, but we might have to pause new Pro subscriptions for a bit if this continues." Furthermore, OpenAI is deepening cooperation with Samsung Electronics as it develops its own chips, expanding ties with Samsung across semiconductors and enterprise AI services.

COMMUNICATIONS

• Google (GOOG) - To invest a minimum of EUR 13bln in Finland’s AI infrastructure in 2027-28, reports Finnish broadcaster YLE.
• Meta (META) - Launches Muse personal AI agent. Muse can connect with Meta apps and third-party services including Google Workspace, Ticketmaster, OpenTable, Spotify and Apple Health.
• Fox (FOX), Roku (ROKU) - US Department of Justice plans closer scrutiny of Fox's USD 22bln Roku deal, Semafor reports.

CONSUMER DISCRETIONARY

• Inditex (IDEXY) - H1 2026 (EUR): Revenue 19.76bln (exp. 19.65bln), EBIT 3.84bln (exp. 3.92bln), Net Profit 2.98bln (exp. 3.05bln), Aug 1st-Sep 7th Store and Online Sales +9% Y/Y. Sees around -1% currency impact on sales in 2026 and expects stable gross margin.
• Signet Jewelers (SIG) Q2 2026 (USD): Adj. EPS 2.19 (exp. 1.74), Revenue 1.53bln (exp. 1.53bln); board approves expansion of repurchase authorisation by USD 385mln. Guidance: Q3 revenue 1.37-1.41bln (exp. 1.39bln). Raises FY27 revenue view to 10.45-12.10 (prev. 9.20-11.0, exp. 10.82) and reaffirms revenue view of 6.7-6.9bln (exp. 6.84bln).
• Chewy (CHWY) Q2 2026 (USD): Adj. EPS 0.37 (exp. 0.36), Revenue 3.33bln (exp. 3.32bln). Guidance: Q3 revenue 3.32-3.36bln (exp. 3.33bln). Raises FY26 revenue to 13.46-13.57bln (prev. 13.4-13.55bln, exp. 13.49bln).
• Booking Holdings (BKNG) - Lost its fight against an EU antitrust veto of its EUR 1.63bln ETraveli acquisition three years ago, as Europe's second-highest court sided with regulators.
• Academy Sports and Outdoors (ASO) Q2 2026 (USD): Adj. EPS 2.31 (exp. 2.08), Revenue 1.65bln (exp. 1.65bln), Comp. sales -0.4%. Guidance: Raises FY26 adj. EPS to 6.50-6.90 (prev. 6.40-6.80, exp. 6.42); backs revenue of 6.23-6.36bln (exp. 6.31bln).

CONSUMER STAPLES

• Sysco (SYY) - Reaffirms its FY27 guidance and raises its mid-term targets; Net sales growth of c. 4%-7% (prev. 4%-6%) and adj. EPS growth of 9-11% (prev. 6-8%).
• Casey's General Stores (CASY) Q1 2027 (USD): EPS 7.37 (exp. 6.82), Revenue 5.68bln (exp. 5.55bln); affirms FY27 outlook.

INDUSTRIALS

• Airbus (EADSY) Lowers long-term forecast for demand of narrowbody deliveries in China, cutting its projection by around 500 units to 7,480 in the next 20 years; cites the expansion of China's high-speed rail network.
• Uber (UBER) - COO Andrew Macdonald bought 70k shares of common stock on September 4th in a total transaction size of USD 5.3mln.
• Northrop Grumman (NOC) - Awarded USD 4.84bln firm-fixed-price, indefinite-delivery/indefinite-quantity contract for full rate production of the Common Infrared Countermeasure.
• Lyft (LYFT) - Names Michael Brous CFO, and reaffirms Q3 2026 guidance; Erin Brewer to retire as CFO, and will remain advisor through December 15th, 2026.

MATERIALS

• Dow (DOW) - Reportedly weighs exit from USD 20bln Saudi chemicals venture.

FINANCIALS

• Chime (CHYM) - Announced has entered into a definitive agreement to acquire Stride Bank for USD 590mln in cash; raises Q3 guidance; revenue USD 705mln (prev. 680-690mln, exp. 686.6mln) and adj. EBITDA 117-120mln (prev. 105-110mln).

HEALTHCARE

• Merck (MRK) - Veteran and psychedelics developer tapped for top FDA job.
• AstraZeneca (AZN) - UK NICE recommends Imfinzi with platinum-based chemotherapy, then with or without olaparib for untreated advanced or recurrent endometrial cancer in adults.
• Assembly Biosciences (ASMB) - Has exercised its option to share 40% of the development costs and profits in the US for its herpes simplex virus helicase-primase inhibitor program for recurrent genital herpes under its collaboration agreement with Gilead Sciences (GILD).
• Evommune (EVMN) - Phase 2b EV0756 trial did not meet primary and secondary endpoints.
• Seaport Therapeutics (SPTX) - Announced positive topline results from the Phase 1 Driving Simulation Trial of GlyphAllo, a novel, Glyphed oral prodrug of allopregnanolone, in healthy volunteers.

REAL ESTATE

• Independence Realty Trust (IRT), Centerspace (CSR) - Announced that they have entered into a definitive merger agreement under which CSR and IRT will combine in an all-stock transaction. Combined Co. is expected to have a pro forma equity market capitalisation of c. USD 5bln and a total enterprise value of c. USD 8.1bln.

ENERGY

• Baker Hughes (BKR) - Guides FY26 revenue USD 28.5-30.3bln (prev. 26.7-28.1bln) and adj. EBITDA USD 4.9-5.5bln (prev. 4.6-5.1bln).