East 8 Index drops 2%, hitting the lowest level since January 21

Intel (INTC.US) CEO Patrick Gelsinger stated that the company will continue its collaboration with Elon Musk on the Terafab project.

October 7 - SpaceX (SPCX.O) shares fell 1.8% in premarket trading to $168.9. According to the Financial Times, citing people familiar with the matter, the company plans to raise $40 billions to acquire Nvidia (NVDA.O) AI chips. The Financial Times reports that the proposed financing, led by Apollo Global Management (APO.N), includes around $10 billions in bank loans and $30 billions in investment-grade bonds to pay for the chip orders. This move by Elon Musk's company underscores the enormous capital required amid the AI boom, as tech companies race to expand their computing infrastructure. SpaceX, Apollo Global Management, and Nvidia have yet to respond to Reuters' requests for comment. Out of 41 brokerages, 32 have a "Buy" or higher rating on the stock, 6 rate it "Hold," and 3 as "Sell" or lower; the median target price is $217, according to data compiled by London Stock Exchange Group (LSEG). As of the previous trading session close, SPCX shares have risen 27.3% from their IPO price of $135.

October 7 - Constellation Brands (STZ.N) shares fell nearly 5% in pre-market trading to $110.11. The Corona beer maker lowered its full-year operating margin forecast to 31%-32% from the previous 32%-33%. The company reported Q2 profit and sales on Tuesday that exceeded expectations, driven by strong demand for beers such as Modelo Especial and Victoria, which helped offset challenges in the alcohol sector amid weak consumption. JPMorgan stated that Q2 FY2027 financial results were largely in line with expectations; market focus may turn to management's outlook for H2 FY2027 beer business revenue and operating margins, and the implications for FY2028. The company will pay $75 million to acquire the vodka-based ready-to-drink (RTD) brand SpikedAde upon transaction completion, with up to a further $278 million over five years depending on brand performance and capital allocation priorities. “Although the brand and category are still nascent, the acquisition of SpikedAde could hold significant potential,” said JPMorgan. As of yesterday's close, the stock is down 16% year to date.