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

1206 ET - Thomson Reuters' share price divergence creates opportunity, says TD Cowen's Vince Valentini. The analyst says in a report that TRI shares have been under pressure since July 2025, "declining approximately 54% from their all-time high despite consistently delivering strong operating results." He notes that guidance continues to trend higher, with management expecting organic revenue growth of 7.5%-8% in 2026, up from 7%-7.5% in 2025. Also, following 2Q, target outlook was raised 50 basis points to 8% "for the total company and to 9.5%-10.0% for the Big Three segments, from approximately 9.5% previously." With the shares down about 40% over the last 52 weeks at C$145.13, Valentini says "the current valuation increasingly understates the company's attractive long-term growth and margin outlook." (adriano.marchese@wsj.com)

1145 ET - Sam Altman has confirmed that OpenAI won't go public until next year, but that's been the sentiment for some time now, Neostellar Capital's Evan Schlossman says in a note. Altman's statements are tied to he and Elon Musk supporting Anthropic CEO Dario Amodei's call to slow down AI development over safety concerns. The company just raised $122 billion, showcasing how much demand they've still got in the private markets, Schlossman says. Clearly OpenAI isn't facing any pressure to run to the public markets, and will go public whenever its most advantageous to the business, he says. (dean.seal@wsj.com)

1137 ET - Leaders of the top AI companies in the U.S. are in rare agreement that they need to slow development of the technology, but a major slowdown is unlikely while China is in the race, Giuseppe Sette co-founder and president of investment research platform Reflexivity says in a note. Clearly something happened that was big enough to force a unified stance between Dario Amodei, Sam Altman and Elon Musk, Sette says. And it was probably stopped at the last minute before disaster struck, he adds. But any retracement in AI stocks from the truce between the U.S. leaders is "simply a buying opportunity," Sette says. (dean.seal@wsj.com)

1104 ET - AstraZeneca just suffered its third failure of a late-stage clinical trial in less than three months, but it can overcome these setbacks, Bernstein analysts say in a research note. The negative results of its Etcamah breast-cancer drug add to earlier disappointing results for its Wainua drug in a heart-disease trial and for lung-cancer drug candidate volrustomig.Swiss rival Roche was also hit by three late-stage trial failures in 2022 and its stock underperformed European peers until the fourth quarter of 2025, but AstraZeneca doesn't have to follow the same fate, Bernstein says. AstraZeneca's late-stage drug pipeline looks fuller than Roche's was back then, and the majority of its studies with results due next year should face low risk, the analysts say. AstraZeneca shares rise 3.1%. (adria.calatayud@wsj.com)

1057 ET - New home construction is starting to slow, Zillow says. Completion of detached single-family homes fell for the third straight year in 2025, and the pace of permitting is slipping further below its pre-pandemic trend line. The concern is that a thinner pipeline could deepen an already significant housing shortage at a time when affordability is already stretched thin. Over the 12 months ending July 2026, more than 1.42 million residential building permits were issued nationwide, down 1.7% from the same period a year earlier. Compared with the pre-pandemic trajectory from 2016 through 2020, permitting is running 19.4% below where it would have been if that trend had held. Permitting has fallen year over year for 44 consecutive months. (chris.wack@wsj.com)

1056 ET - AstraZeneca's Etcamah breast-cancer drug failed a clinical trial in advanced breast cancer, but this doesn't mean investors should count out another study for the same medicine at an earlier stage of the disease, Citi analysts say. The market had been largely expecting a failure given the similarity between the Etcamah trial and a separate study of Roche's giredestrant drug that missed its objective earlier this year, the analysts say in a note. Just like Roche's giredestrant, the medicine from the U.K. drugmaker could still hit the objective in a trial for early breast cancer, the analysts add. AstraZeneca is expected to publish results from the early-breast-cancer study in the second half of 2027, according to Citi. Shares in AstraZeneca rise 3%. (adria.calatayud@wsj.com)

1054 ET - The leading U.S. AI labs may agree to the first step of Anthropic CEO Dario Amodei's plan to "pace" the AI frontier, letting independent evaluators embed in the labs' research. But don't hold your breath for his ultimate goal of global coordination between both democratic and non-democratic countries, namely China, Truist analysts say in a note. "We view participation from Chinese labs as essential for adequate pacing," they say but add that they "do not expect material international alignment in the near future." Ultimately, the analysts don't think "US frontier labs will pause and allow Chinese labs to take the lead." (elias.schisgall@wsj.com)

1050 ET - AstraZeneca and Daiichi Sankyo's Enhertu drug showed impressive results in a late-stage study for lung cancer, but faces tough competition, RBC Capital Markets analysts say in a research note. The drugmakers said Enhertu delayed a type of advanced lung cancer from worsening by six months compared with the standard-of-care therapy. This was the first study to beat the standard therapy--Merck's Keytruda plus chemotherapy--on progression-free survival as a first-line treatment for this type of lung cancer, the analysts say. Nevertheless, rival therapies from Bayer and Boehringer Ingelheim that belong to a different class of medicines recently got approval. With similar efficacy and a more manageable adverse-event profile, Bayer and Boehringer's drugs could have the upper hand, RBC says. AstraZeneca shares rise 3.6%, while Daiichi closes 2.7% higher. (adria.calatayud@wsj.com)

1040 ET - With a record August box office under its belt, Cineplex should see its shares gain throughout the rest of the year. TD Cowen's Cheryl Zhang says in a report that the month's box office revenue hit C$98 million, double over the prior year and taking 3Q-to-date revenue to C$170.6 million thanks largely to big hits such as The Odyssey and Spider-Man: Brand New Day. "With a month left in the quarter, BO has already exceeded our full-Q3 estimate and is on pace to beat consensus," Zhang notes, adding that given Cineplex's substantial operating leverage, the box office outperformance bodes well for margins and free cash flow expansion. Shares are up 2.7% to C$12.30. (adriano.marchese@wsj.com)

1007 ET - Dubai leads most major Gulf markets higher, with the Dubai Financial Market General Index gaining 0.6%. Saudi Arabia's Tadawul All Share Index and Abu Dhabi's benchmark index each edge up 0.1%, while Qatar's QE Index slips 0.3%. Qatar's budget deficit widened sharply to QAR21.2 billion in the second quarter as hydrocarbon revenue fell 97% on year amid the collapse in LNG exports, though the country's strong net asset position leaves it well placed to finance the shortfall, Capital Economics says. (farhan.rafid@wsj.com)

1004 ET - Roche Holding and GSK's Chinese partners reported strong clinical-trial data for their respective lung-cancer drug candidates in China-only clinical trials, analysts at J.P. Morgan write in a research note. Both drugs, one from GSK and partner Hansoh Pharmaceutical and another from Roche and MediLink, showed a 54% improvement in overall survival rates in the trials. This seems competitive relative to a 40% benefit shown by Amgen's Imdelltra in a global trial, the analysts say. Roche and MediLink's candidate tam-peli has a better tolerability profile than GSK and Hansoh's ris-rez, they add. Ris-rez has better median overall-survival data, but it will be important to confirm this result in a global trial, according to JPM. GSK shares rise 4.6% and Roche's jump 5.7%, while Hansoh's close 5.1% higher. (adria.calatayud@wsj.com)

0917 ET - Europe's most valuable company is on track to shed more than 33 billion euros of market value, as the selloff in AI-related stocks bites on European equities. Calls from leaders to slow down the development of the technology at frontier U.S. AI companies have spooked the market, Quilter Cheviot's Ben Barringer writes, leading to a selloff in companies across the semiconductor chip supply chain. ASML trades down around 6%, which--if held to the end of trade--translates to a fall in value of 33.6 billion euros. The stock would wipe out around six weeks of gains to trade at its lowest level since July 29. A 6% decline would be the stock's sharpest percentage fall since July 27.