Morgan Stanley names Amazon top pick, raises target to $350

Morgan Stanley raised Amazon's price target to $350, citing AWS growth potential. Prediction markets assign only 11% odds to Amazon closing above $300 in October. Q3 earnings are scheduled for October 29 with EPS estimated at $1.96. X-Energy and AEP signed a joint development agreement for a nuclear plant in Indiana.

Amazon secures $521.4M warrant to buy 3M stock in data center pact

Amazon received a warrant to buy $521.4 million of 3M stock, exercisable over seven years. Vesting is tied to Amazon's data center product purchases, with full vesting at $6 billion cumulative payments. 3M shares rose 5.43% in after-hours trading following the SEC filing disclosure. The deal aligns with broader hyperscaler capex trends projected to reach $916 billion in the next 12 months.

Silence Therapeutics surges 125% on $1.3 billion Merck acquisition deal

Silence Therapeutics rose 125.58% after Merck agreed to acquire it for $1.3 billion. Cleveland-Cliffs gained 16.05% as Q3 adjusted EPS of 28 cents beat estimates of 19 cents. Disc Medicine surged 38.86% on positive Phase 3 trial results for bitopertin. Amazon.com advanced 4.98% following a Morgan Stanley price target hike to $350. EyePoint plunged 85.28% after failing a primary endpoint in its Phase 3 wet AMD trial.

Amazon launches TorchNeuron to ease switch from Nvidia chips to Trainium

Amazon launched TorchNeuron, an open-source tool for running PyTorch code on Trainium chips. The tool allows migration via configuration changes instead of full code rewrites. More than 30 early customers in robotics and voice AI are using the tool. Anthropic uses Trainium in its Project Rainier cluster, highlighting major client adoption. The move aims to reduce software friction associated with Nvidia's CUDA ecosystem.

Musk floats Amazon rival after Grok AI bots hit shopping roadblocks

Elon Musk suggested starting an Amazon competitor after Grok bots faced restrictions. Amazon blocked Meta's Muse AI agent but opened seller platform to Anthropic's Claude. Amazon invested $13 billion in Anthropic with $20 billion more tied to milestones. Chamath Palihapitiya argued Amazon's competitive moat is weakening due to AI shifts.

Amazon.com schedules Q3FY26 earnings call for Oct 29

Amazon.com scheduled its Q3FY26 earnings call for October 29, 2026. The conference call begins at 2:00 pm PT/5:00 pm ET. Audio and slides will be archived for at least three months.