The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

1423 ET - Tech stocks still have a long way to grow, despite some investor concerns that valuations and tech spending will have to slow down at some point, Wedbush analysts say. The analysts expect third-quarter tech earnings will be another validation of strong spending, with a doubling down on capital expenditure numbers into 2026. "Our bullish view is that investors are still not fully appreciating the tidal wave of growth on the horizon from the $3 trillion of spending over the next 3 years coming from enterprise and government spending around AI technology and use cases," the analysts say. (katherine.hamilton@wsj.com)

1359 ET - Thenumber of rigs drilling for oil in the U.S. rose by two this week to 420, or 60 fewer than a year ago, oil services company Baker Hughes reports. Despite lower rig counts, U.S. production was above 13.6 million barrels a day in July and has recently held around that level, according to weekly EIA estimates. WTI prices below $60 a barrel are widely seen as a point where drillers are likely to drop rigs, and some see OPEC's unwinding of output cuts as aimed at squeezing out high-cost U.S. shale producers. "If the price hits $50 we would see a massive drop in production. They would just stop their wells," said Shon Hiatt of the USC Marshall School of Business. "But it wouldn't last very long, I suspect." Rigs directed at natural gas were unchanged this week at 121, up 20 from a year ago. (anthony.harrup@wsj.com)

1340 ET - Hasbro's beat in 3Q was driven by strong performance of its Wizards of the Coast and digital gaming segment, which helped offset delayed orders of board games, action figures and other toys destined to land under Christmas trees. The maker of Transformer action figures and Monopoly board games notes it has seen orders pick up since the beginning of 4Q. These comments echo those from fellow toymaker Mattel, and they bode well for Funko, which is scheduled to report Nov. 6, Davidson analysts say in a research note. "Although, tariffs are likely to play a bigger role in the fourth quarter," the analysts warn. Funko shares rise 3%. (connor.hart@wsj.com)

1307 ET - Boston Beer's vodka-based Sun Cruiser brand is starting to make its mark on the beer company's results, Roth analyst Bill Kirk says in a note. "We are beginning to see the power of Sun Cruiser," Kirk says, noting Boston Beer's depletions accelerated in the third quarter even as scanner data decelerated. Sun Cruiser contributed seven percentage points to depletions in the quarter, up from 3 percentage points in the second quarter, he says. The brand is having early success outside well-tracked channels, and the company call it their next "iconic brand," he says. (kelly.cloonan@wsj.com)

1303 ET - The extended slowdown in remodeling activity could start to turn around next year, says flooring manufacturer Mohawk Industries. "Most central banks have shifted from prioritizing inflation reduction to stimulating economic growth. Declining interest rates in the U.S. and around the world should gradually encourage increased home sales and remodeling," says Chief Executive Jeffrey Lorberbaum on the company's earnings call. Additionally, housing supply has increased recently, leading to slowing price increases, and several governments across the world are beginning initiatives to stimulate new home construction. An aging housing stock plus surging home equity values should also support remodeling activity, Mohawk says. (nicholas.miller@wsj.com)

1252 ET - The remodeling downcycle has now lasted more than three years, serving as an extended drag on the flooring industry, says flooring manufacturer Mohawk Industries. "Across our geographies, consumer uncertainty continues to limit discretionary spending on large projects, particularly if financing with debt is required," says Chief Executive Jeffrey Lorberbaum on the company's earnings call. Meanwhile, a stagnant housing market has reduced new construction activity and taken away the company's principal remodeling customers. The company says U.S. consumers spend five times as much on remodeling their flooring in the first year after buying a home compared with non-movers. (nicholas.miller@wsj.com)

1244 ET - Amazon is still seeing healthy trends in its core retail business, setting it up for a strong third quarter, Wedbush analysts say. The e-commerce giant is continuing to gain market share, with online stores revenue up 11% year over year, the analysts say. In July, management said they hadn't observed any indication that demand trends were softening in retail during the first half of this year, the analysts say. The average selling price has also not increased despite concerns that tariffs would inflate prices. The analysts' consumer internet survey results indicate healthier consumer sentiment, with about 40% of consumers increasing their online spending significantly in the third quarter. (katherine.hamilton@wsj.com)

1239 ET - Amazon shares are set up to gain following its third-quarter financial report, Wedbush analysts say. Investor sentiment has eased since the last quarter's results, with shares down around 3%, as AWS growth was somewhat disappointing compared with expectations, the analysts say. But the analysts think Amazon's long-term opportunity is still there and they expect to hear positive commentary around AWS growth in 3Q. They see multiple areas for margin improvement, including a structural mix shift toward higher-margin AWS and advertising revenues. (katherine.hamilton@wsj.com)

1219 ET - Mohawk Industries has continued pulling up its pricing levels to help offset tariffs. The company says in its third-quarter earnings call that price hikes announced earlier this year have begun flowing and that it was also implementing an additional 5% to 10% price increase. Mohawk says it is facing an average tariff rate of 20%, which works out to an annual impact of $110 million before mitigations. The company says it is also altering its supply chain and dropping certain product categories, while a recent decline in freight rates have also helped to offset tariffs. Shares fall 4.8%. (nicholas.miller@wsj.com)

1153 ET - Deckers Outdoor's growth opportunity is significantly undervalued by the market, UBS analysts say in a note. Deckers should beat on earnings per share estimates over the next 12 months as its Hoka and Ugg brands perform better than expected, reminding the market it is capable of growing sales and earnings per share at a high-single-digit to low-double-digit annual rate and boosting its valuation, the analysts say. "We see a very good opportunity to buy shares in a growth company significantly undervalued by the market," the analysts say, maintaining their $157 price target on the stock. Shares fall 12%, to $89.99. (kelly.cloonan@wsj.com)

1146 ET - Winnebago Industries is caught in the tide of a mix of company and industry dynamics, but DA Davidson's Griffin Bryan says a the turnaround may be the remedy. In a report, the analyst notes the company is in the midst of a turnaround within several of its RV related segments, "potentially leading to a more intriguing profitability profile." But Bryan says that the company is in a "prove it" situation, where benefits specifically as it relates to motorhome and reception of refreshed product lines will have to be earned in order to achieve outgrowth. Meanwhile, the analyst says the market will likely be flat in 2026, and he remains "cautious on the name in the near term led by both industry and company related dynamics." (adriano.marchese@wsj.com)

1111 ET - FirstService has had a run of recent selloffs but the guidance hasn't changed, which TD Cowen's Tim James says gives it a compelling valuation, upgrading the target to buy from hold. The analyst says that the stock has lost about 20% since early September, but "combined with immaterial changes to forecasts and no change in thesis," it has created a compelling forward valuation for high-quality, defensive, multi-year compounder. Moreover, this backs the belief the company is well-insulated from a challenging trade and economic environment. The new target price for the stock is now C$213 from C$214. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

October 24, 2025 14:23 ET (18:23 GMT)

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