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

1056 ET - BofA Securities is taking a more pessimistic view on Nike as they see the brand's turnaround taking longer amid a host of growing risks. Challenges in Nike's classics business continue to overshadow the company's innovation, while pressures in the wider category and economy build, the analysts say. And while Nike is seeing strength with its North America wholesale partners, consumers aren't buying its products from those retailers at the same clip due to declines in classic styles and new launches that are missing expectations, the analysts say. "This puts forward order books at risk as retailers become less willing to make a bet on newness until success is proven," they say. BofA downgrades Nike to underperform from neutral and cuts the price target to $30 from $47. Nike is off 0.6% to $35.77. (kelly.cloonan@wsj.com)

1046 ET - Oppenheimer analysts say they remain on the sidelines when it comes to CarMax. The company's F2Q results, scheduled to be released next week, are unlikely to provide an "all clear" for the long-struggling chain, analysts Brian Nagel and Andrew Chasanoff say in a research note. However, the results "could highlight further, positive fundamental progress at the company under the guidance of new CEO Keith Barr," they say. CarMax's already well-developed and unique omni-channel model lends itself well to strong sales and profitability when operated efficiently, the analysts say. They're just waiting for commentary from Barr and company data to show that recent repositioning efforts are in fact increasing efficiency, they add. (connor.hart@wsj.com)

1026 ET - Comcast looks set to post worse-than-expected results on every key metric for 3Q, KeyBanc Capital Markets analyst Brandon Nispel says in a note. In particular, Comcast's broadband net adds likely won't improve year-over-year as compelling offers from competitors ramp up competition, Nispel says, citing recent commentary. "CMCSA views these offers as 'irrational,' which we think shows CMCSA unwillingness to match competitors' offers," Nispel says. "While there is always some ebb and flow in promos, we don't expect competitors to back off." Nispel downgrades Comcast to underweight from sector weight and establishes an $18 price target. Comcast is off 2.2% to $21.65.(kelly.cloonan@wsj.com)

0959 ET - After coming out of private equity more than a decade ago, GoDaddy looks like it could be a viable acquisition candidate again, according to Wedbush Securities in a note, pointing to its depressed FCF multiple, strong cash generation and low leverage. The commentary comes after the FT reported that Gen Digital made a takeover offer for GoDaddy. Gen Digital could benefit from cross-selling to GoDaddy's broad base of customers, but there are likely more limited product synergies outside of a rollup of their tools for small- and medium-sized businesses, analysts Ygal Arounian and Chase Tohanczyn say. GoDaddy could be a fit for other software providers targeting smaller businesses, like HubSpot or Inuit, the analysts say. "And while a stretch, in some scenarios we can see a vibe coder interested in its customer base, domain strength, and back end commerce functionality," they say.(kelly.cloonan@wsj.com)

0926 ET - Rentokil is continuing to simplify its portfolio but there are few catalysts expected for the stock until its third-quarter update on Oct. 22, Bernstein's Will Kirkness and Filippo Giardini write after speaking with management. "Our key takeaway was growth messaging is consistent and the lack of progress is driven by a range of factors, but scope for self-help remains considerable," the analysts write. They expect more details on the scale of cost cuts in the pest-control company's international arm, and subsequent reinvestments in North America in the update. Bernstein has an outperform rating on the stock and 510-pence price target. Shares are down 0.3% at 308 pence and 31% lower over the year to date. (joseph.wilkins@wsj.com)

0900 ET - Institutional demand for ether is improving, offsetting the impact of tighter U.S. financial conditions, Zaye Capital Markets analyst Naeem Aslam says in a note. Recent exchange-traded fund inflows, corporate treasury accumulation and ether's ability to retain most of its weekly advance suggest institutional participation has improved materially, he says. If ETF inflows remain positive and large holders continue accumulating ether while the cryptocurrency holds above $2,600-$2,650, it could rise above $2,800 and potentially $3,000, he says. If institutional flows reverse or higher U.S. yields trigger broader crypto deleveraging, that support would weaken, he says. Ether rises 1.1% to $2,714, LSEG data show. (renae.dyer@wsj.com)

0856 ET - Akamai Technologies' $11.6 billion multiyear agreement with Anthropic is in addition to the $1.8 billion multiyear deal the companies inked earlier this year, bringing the total commitment from Anthropic to date to $13.4 billion over seven years, according to D.A. Davidson in a research note. The latest agreement also includes an option for Anthropic to expand the commitment by up to an additional $9 billion over the same period, analysts Rudy Kessinger and Benjamin Smith add. They haven't yet updated their estimates for Akamai, saying they need a bit more time to digest the numbers. But they know which way the estimates will move: "In short, future growth & EPS estimates will move substantially higher," they say. Akamai jumps 13% premarket. (connor.hart@wsj.com)

0844 ET - Maersk is likely to raise guidance again with its third-quarter results, as freight rates remain strong, Bernstein analyst Alex Irving writes. Full-year consensus Ebitda of $12 billion-$13 billion looks sensible, versus current guidance of $10.5 billion-$12.5 billion, he says. "While the ever-growing industry order book remains cause for concern, near term dynamics have continued to surprise to the upside." Chinese port congestion has eased but remains a constraint on available capacity, keeping rates higher. At the same time, strong demand continues to support revenues, he adds. The Danish shipping group and its peers have partially resumed sailing through the Red Sea, but it shouldn't have an impact on 2026 guidance. Bernstein rates Maersk stock at underperform with a 14,100 Danish kroner price target. Shares fall 0.5% to 23,610 kroner. (dominic.chopping@wsj.com)

0833 ET - British energy major BP isn't expected to start buying back shares until 2028 despite higher commodity prices, HSBC's Kim Fustier writes. The conflict in the Middle East has provided a cash windfall that will be used to pay down debt, she adds. BP's priority remains getting its leverage closer to peers, she says. HSBC sees BP's buybacks returning at $2 billion a year in 2028. If BP completes $3 billion of asset sales in 2027 and 2028, its total leverage should fall to around 11% by the end of 2028 and be in line with peers, she says. Shares fall 3% to 554.20 pence. (adam.whittaker@wsj.com)

0826 ET - BlackBerry's embedded software was a standout in F2Q and has several catalysts on the horizon, says TD Cowen's John Shao. In a report, he notes that the headline beat was largely driven by high-margin, non-recurring license revenue, but "even excluding this benefit, the core QNX business still delivered a decent beat relative to expectations." He says that QNX's growth trajectory "appears increasingly independent of a broader vehicle production recovery." Looking ahead, the analyst sees multiple near- and long-term catalysts, including expanding its total addressable market for QNX, as well as new design wins for Alloy Kore, greater robotaxi and physical AI adoption, and potential capital deployment opportunities. (adriano.marchese@wsj.com)

0824 ET - Shares in German chemical company Evonik rise nearly 10% following a media report suggesting a potential takeover approach by rival BASF. According to the Financial Times, BASF has made a merger proposal to Evonik and its largest shareholder, the RAG-Stiftung foundation. BASF has been in talks with banks about a possible takeover since earlier this year and continues to work on a potential deal, it says citing unnamed sources. BASF and Evonik declined to comment. Evonik shares are up 8.8% while BASF shares are down 2%. (najat.kantouar@wsj.com)

0821 ET - Norway's Equinor is expected to grow its 2026 buyback to $4 billion on materially higher gas prices, HSBC's Kim Fustier writes in a note. The company set out a $3 billion target at its June CMD but since then gas prices have stayed high, she says. Equinor's balance sheet is set to continue improving and the company should be able to comfortably pay out $4 billion again over 2027, she says. Buybacks are then seen sustained at $3 billion as gearing stabilizes at low-double digits by the end of 2028, she notes. Shares fall 3.1% to 403.40 Norwegian kroner.