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

1751 ET - Broadcom's newest tensor processing unit, or TPU, is "comparable, if not surpasses, the Vera Rubin GPU," Chief Executive Hock Tan tells analysts on a call, referring to the long-awaited next-generation Nvidia chip. Production shipments of the Broadcom's newest TPUs for Google have begun, Tan says. Broadcom also shipped Jalapeño chips developed in partnership with OpenAI, which Tan says outperform Nvidia's Grace Blackwell GPUs for inference workloads. The comments come as investors debate whether Nvidia will lose market share to custom chip makers such as Broadcom and Marvell. (elias.schisgall@wsj.com)

1635 ET - The publicly traded Securitize is set up for a big win with the SEC's proposal this week to overhaul transfer agent rules, StoneX analyst Mark Palmer says in a note. The proposal, which would be the first substantive rewrite of the rule since the early 1980s, embraces blockchain technology and calls for reporting that would distinguish issuer-sponsored tokenized issues from those sponsored by third parties, the analyst says. It also considers tying wallet addresses to a master securityholder file, he says. Securitize is a registered transfer agent that has spent years building that kind of infrastructure while other firms followed rules for paper certificates, the analyst says. The SEC's proposed rule would strengthen the company's strategic moat, Palmer says. Shares closed up 4.2% at $6.51. (dean.seal@wsj.com)

1546 ET - Enterprise technical debt and the heightened cyber threats from artificial-intelligence position Palo Alto Networks to benefit from increased cybersecurity platform demand, Morgan Stanley analysts write in a note. "Enterprises cannot continue to address all of these risks in the way they have in the past, with 30+ vendors," the analysts write. "They need to address it efficiently, both from a time / resources / financial standpoint, a benefit to platforms like PANW." The company has made "platformizations" a central pillar of its strategy, and completed around 220 such platform integrations in the third quarter. (elias.schisgall@wsj.com)

1541 ET - Chronosphere and CyberArk, two companies Palo Alto Networks acquired in recent multi-billion-dollar deals, were standouts in the company's third-quarter print, JPMorgan analysts write in a note. Chronosphere ended the quarter with $500 million in annual recurring revenue, and the company's commentary suggests the move of one frontier AI lab from another from a competitor to Palo Alto added $100 million in incremental ARR, the analysts write. Palo Alto's Idira business, which includes CyberArk, had revenue synergies drive 27% growth in annual contract value. Joint go-to-market efforts between Palo Alto and CyberArk generated more than 200 net new logos from upwards of 400 shared leads, the analysts note. (elias.schisgall@wsj.com)

1248 ET - SpaceX's vertical integration gives it an advantage in deploying and supplying computing power, Oppenheimer analysts write in a note, lifting their price target to $280 from $250. "We think SPCX will be a winner of the near-term compute shortage, as it has the ability to bring on infrastructure faster than anyone else, and is using this infrastructure and its data to improve its own models faster than anyone else," they write. Not only can SpaceX use this compute itself, but it rents out infrastructure to other firms, gaining 50 cents for each dollar of revenue its tenants receive based on the analysts' analysis. "As demand for SPCX models accelerates, SPCX captures the leasing and frontier lab revenues as a vertically integrated owner," the analysts write. "No other company can do this, in our opinion. (elias.schisgall@wsj.com)

1215 ET - Wedbush Securities analysts forecast Uber Technologies' plans to cut 10% of its workforce could lead to about $1.75 billion in total run rate cost savings. "That said, we expect to see all or most of the savings reinvested, and less flowing through to the bottom line," the analysts say. They expect much of the savings will be put toward the company's growth initiatives. "In our view, this announcement strengthens our conviction in Uber's capacity to drive growth while maintaining its margin expansion trajectory," they say. (kelly.cloonan@wsj.com)

1034 ET - Gold prices rebound, rising back above $4,400 a troy ounce after private-sector hiring in the U.S. slowed in August, tempering expectations for a Fed rate hike this month. August saw the slowest pace of job creation since January, with private companies adding a net 38,000 jobs, compared to an expected 47,000. According to the CME FedWatch tool, traders are now pricing in a 66% chance of a hike compared to a 70% chance earlier on Wednesday. Futures in New York rise 0.9% to $4,435.20 a troy ounce.(giulia.petroni@wsj.com)

1027 ET - Home sales jumped 9% year over year in San Francisco in July, Redfin says, while sales fell 9% in Seattle. Two of America's leading tech hubs, their markets have often responded to the same forces: tech hiring, stock-market swings, remote work and mortgage rates. But San Francisco is backed by AI wealth that's heavily concentrated in that city, something Seattle lacks. San Francisco's median home-sale price jumped 6% in July to $1.6 million. Seattle's median sale price declined 4% to $809,000. Homes for sale fell 18% year over year in San Francisco, while inventory rose 17% in Seattle. The typical home that sold in San Francisco in July did so in 20 days, 3 days faster than last year. In Seattle, the typical home sold in 24 days, 4 days longer. (chris.wack@wsj.com)

1017 ET - The typical U.S. home located in a highly rated school zone costs $580,000, Redfin says. That is 35% more than $430,000 for the typical overall home. A household would need to earn $159,157 to afford a home in a highly rated school zone. That's roughly $41,000 more than the $117,995 needed to afford the typical overall home. Both are higher than the median U.S. income of $87,599, but the gap is wider for a buyer looking to purchase a home in a highly rated school zone. A median-earning household buying a home in a highly rated school zone would need to spend 54.5% of their income on housing, compared with 40.4% for the typical home. The premium benefits homeowners selling in highly rated school zones, where homes command higher prices on average. (chris.wack@wsj.com)

1002 ET - Brown-Forman is counting on Jack Daniel's Tennessee Blackberry whiskey to buoy its business as consumers are pulling back on alcohol consumption. Sales of the beverage partially offset declines of Jack Daniel's Tennessee Honey and Gentleman Jack, generating flat overall whiskey revenue during the most recent quarter. Brown-Forman has been expanding the brand to launch across international markets. "Jack Daniel's Tennessee Blackberry helped offset pressures elsewhere in the business and demonstrates our ability to create new opportunities for growth even in a challenging operating environment," Chief Executive Lawson Whiting says in the earnings release. (katherine.hamilton@wsj.com)

0945 ET - Brown-Forman is struggling with challenges in its core business amid what it calls a challenging operating environment. The company says it expects macroeconomic pressures and geopolitical instability to continue hurting consumer behavior and alcohol consumption through the rest of the fiscal year. This comes as F1Q sales decreased 1%, driven by a drop in tequila sales and flat whiskey sales. Brown-Forman climbs 5.5% in early trading. (katherine.hamilton@wsj.com)

0935 ET - Brown-Forman says innovation and new types of products are helping to offset sluggishness in its core alcohol business. Sales from the company's ready-to-drink portfolio, which includes pre-mixed cocktails, rose 20% in the latest quarter. That offset pressures elsewhere in the business, including a 12% drop in tequila sales, Brown-Forman says. The trend mirrors Molson Coors, which said in August it was investing more in its drink mixers and canned cocktails to jump on momentum in those businesses. Brown-Forman is up 3.5% in early trading.