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Lockheed Martin signed a framework agreement with the Department of War on September 17 to accelerate production of the AIM-260 Joint Advanced Tactical Missile, though Congressional approval is still required for a multiyear procurement contract.
Palantir Technologies gained roughly 10% year-to-date as DA Davidson raised its price target to $250, citing strong commercial momentum and the company’s AI sovereignty strategy gaining institutional acceptance.
U.S. stocks declined after bond market pressure intensified following a strong economic report that raised inflation concerns, sending the 10-year Treasury yield to 5.10%.
McDonald’s announced ambitious restaurant upgrade plans and a new media network during an investor presentation, but the stock fell 6% as the company outlined steep investment requirements for franchisees.
Starbucks announced it will close approximately 250 underperforming North American locations, representing about 1% of its regional portfolio, as part of ongoing turnaround efforts under CEO Brian Niccol.
Darden Restaurants stock declined after reporting quarterly earnings and revenue that slightly missed analyst expectations, with Olive Garden same-store sales growth slowing to 1.1%.
