u/TearRepresentative56

IRAN WAR:

Iran News 24 reports that A deal between the US and Iran is close, with talks in their final phase.
Iran says major gaps remain in nuclear talks as the US demands a permanent end to uranium enrichment.
Saudi Arabia & Oman welcome ceasefire between Israel and Lebanon.
Trump prepared to make concessions in Iran negotiations, Gulf official says: Reports

NFLX EARNINGS:

Revenue: $12.25B (Est. $12.17B) ; +16% YoY
EPS: $1.23 (Est. $0.79) ; +86% Yo
Operating Income: $3.96B; +18% YoY
Free Cash Flow: $5.09B
Reed Hastings to leave board when term ends
Q2 Guide:
Revenue: $12.57B (Est. $12.63B) ; +13.5% YoY
EPS: $0.78 (Est. $0.84)
Operating Income: $4.11B
Operating Margin: 32.6%
Net Income: $3.33B

MAg7 NEWs:

AAPL: Apple's iPhone shipments up 20% in China in Q1, Reuters reports
TSLA - Tesla Preparing To Introduce Six-Seater Model Y Variant In India As Early As Next Week
AMZN - Trust raises PT to 285. Analyst sees AWS growth re-accelerating with AI-driven demand, alongside strong eCommerce and Ads momentum outperforming industry.

OTHER COMPANIES:

SPACE stocks: SpaceX moved up the vesting date for employee shares to as soon as next week from May, another sign its IPO is getting close. The deal is said to target a $2T+ valuation, with a public filing later in May and pricing the week of June 15.
RKLB, LUNR and Fly also even upgrades at Roth Capital
TSM - Aletheia: 'we estimate TSMC can sustain well above 30% CAGR'
SNDK - BofA reiterates Buy, raises PT 1080. Analyst sees AI-driven NAND demand and data center mix shift extending the cycle, supporting sustained pricing strength and margin upside.
AVAV - Cantor reiterates overweigh, maintains PT at 315. Analyst sees space sector entering a powerful catalyst cycle, with government demand and capital advantages driving sustained outperformance.
UBER - Citizens reiterates outperform, PT at 100. Analyst sees AI-driven AV breakthroughs unlocking path to L4 autonomy, strengthening Uber’s partner ecosystem and long-term positioning.
AMD - Wolfe on And "we're bullish on the stock""AMD (OP): Adjusting CY26 estimates to reflect stronger server GPU but weaker client, with total CY26 estimates largely unchanged. Raising CY27 estimates to reflect META AI impact, driving our CY27 rev/EPS to $74bn/$12.63, putting the stock at 22x. We're bullish on the stock, and think the most important catalyst is shipping the first GW to OpenAI/META and receiving a follow-on order. Optionality from a potential third customer (could add $2-3 to EPS), and server CPU strength, offset by client uncertainty."
OpenAI will spend more than $20B on Cerebras chips and servers over the next 3 years, receive warrants for a minority stake, and provide around $1B to help fund data centers, according to The Information.
CRVS - Goldman Sachs initiates at Buy, PT 40. Stock at an attractive entry point for the leading emerging oral option in the large post-Dupixent atopic dermatitis market; PTCL opportunity is undervalued with significant pipeline-in-a-product potential. We think CRVS shares are attractively positioned as the current valuation does not capture the potential of what we view as a differentiated, emerging oral option for atopic dermatitis; a late-stage, high-probability program in PTCL (peripheral T-cell lymphoma); and a reasonable mechanistic rationale, ITK (interleukin-2 inducible T-cell kinase), supporting pipeline potential in multiple adjacent autoimmune conditions, including hidradenitis suppurativa and asthma, all of which will have catalysts in the next 12 to 18 months.
FLNC - UBS downgrades to sell from neutral, Lowers PT to 8 from 22. We downgrade Fluence to Sell from Neutral as we believe U.S. tax policy is catalyzing a step-change increase in domestic battery supply by incentivizing auto original equipment manufacturers to pivot from electric vehicle battery manufacturing toward utility-scale battery energy storage systems. Based on our 18x target multiple, FLNC's current share price implies a two-year adjusted EBITDA compound annual growth rate of 208% for calendar years 2025 to 2027, in line with consensus, compared to our forecast two-year adjusted EBITDA compound annual growth rate of 121% over the same period. We expect battery oversupply from 2027 onward to drive declining battery energy storage system costs and challenge FLNC’s margins. The market significantly underappreciates the potential scale of battery energy storage system manufacturing capacity additions, in our view, and we see structural risks to battery energy storage system pricing and integrator margins driven by excess production at or below cost. We revise our calendar year 2026, 2027, and 2028 adjusted EBITDA estimates to $53 million, $83 million, and $103 million from $74 million, $136 million, and $209 million previously." ONTO - Stifel upgrades ONTO to Buy from Hold, raises PT to 350 from 220. "We were surprised by the muted reaction to Onto Innovation's first-half pre-announcement and even more so by the qualification of its new Gen5 Dragonfly system for 2.5D advanced packaging. There may be some uncertainty around who this customer is. Yet through our concurrent field checks, we learned that Onto recently passed TSMC’s New Tool Selection Committee, a key hurdle and milestone that should corroborate that the new qualification is with TSMC. This addresses a key concern we had when downgrading the stock last year. And while we have missed a significant move-up in the stock, we still see several catalysts to drive further re-rating, rendering the approximately 35% valuation gap relative to direct peers a clear disconnect. We upgrade Onto to Buy from Hold and increase our price target to $350, which at approximately 35x price-to-earnings would still be a 10% to 15% discount to peers on an apples-to-apples basis, excluding stock compensation."
BZAI - said it signed an up to $50M contract with NeoTensr to deploy co-branded AI edge data center infrastructure across Asia Pacific. The company said the deal could generate up to $50M in the first year and brings total potential value with NeoTensr to as much as $70M.
SYM - signed a deal with Medline to deploy its AI-powered warehouse automation system at one of Medline’s distribution centers, marking the first use of the robotics platform in healthcare. The pilot is set for 2027 at one of Medline’s 45 U.S. distribution centers.
AFRM - Affirm elevated to Top Pick at Morgan Stanley, Overweight rating and $76 price target

BE - setting up a high, tight flag beautifully here. Earnings at the end of the month, this can go on an earnings run. Heatseeker shows that above 215, 250 is the main target.

PREMARKET NEWS REPORT: All the market moving news from premarket summarised in one short report