Markets
markets
Luke Kawa

Atlassian’s blockbuster earnings are radically altering Wall Street’s outlook for the software company

Shares of Australia-based software company Atlassian are going parabolic in early trading after its quarterly revenues and adjusted earnings per share exceeded every analysts’ estimate.

Management also boosted its revenue and margin outlook for the next two quarters.

“By infusing AI throughout our world-class cloud platform, we’re empowering all teams to accelerate collaboration and unlock organizational knowledge, further enabling them to unleash their full potential,” CEO and cofounder Mike Cannon-Brookes said.

The entire sell side was seemingly taken aback by this operational performance and improved guidance. Now Wall Street analysts are in a mad scramble to revise their price targets for the company higher (see below):

  • Jefferies: to $400 from $325

  • Canaccord: to $375 from $285

  • Morgan Stanley: to $370 from $315

  • Keybanc: to $365 from $315

  • Piper Sandler: to $365 from $310

  • Mizuho: to $355 from $285

  • Barclays: to $350 from $275

  • Truist: to $350 from $300

  • Scotiabank: to $330 from $250

  • Raymond James: to $330 from $250

  • Berstein: to $325 from $270

  • TD: to $320 from $280

  • Baird: to $320 from $250

  • Cantor Fitzgerald: to $304 from $264

Shares peaked above $324 in early trading on Friday.

  • Jefferies: to $400 from $325

  • Canaccord: to $375 from $285

  • Morgan Stanley: to $370 from $315

  • Keybanc: to $365 from $315

  • Piper Sandler: to $365 from $310

  • Mizuho: to $355 from $285

  • Barclays: to $350 from $275

  • Truist: to $350 from $300

  • Scotiabank: to $330 from $250

  • Raymond James: to $330 from $250

  • Berstein: to $325 from $270

  • TD: to $320 from $280

  • Baird: to $320 from $250

  • Cantor Fitzgerald: to $304 from $264

Shares peaked above $324 in early trading on Friday.

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Nia Warfield, Luke Kawa
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US stocks end a down week with a gain

An up day but a down week for the benchmark US stock index.

Cowboy Riding Bucking Steer
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Luke Kawa

Crocs rises on new marketing campaign for HeyDude brand starring Sydney Sweeney


Sydney Sweeney has great... feet?

Shares of Crocs are rising after the footwear company’s HeyDude brand unveiled a new marketing effort starring actress Sydney Sweeney for its Austin Lift shoe line.

Sweeney’s controversial ad campaign for American Eagle spurred a massive jump in the denim maker’s shares, caught the attention of the president, and prompted “an uptick in customer awareness, engagement, and comparable sales,” per American Eagle’s management.

Sweeney was first announced as HeyDude’s global spokesperson in August 2024, and doesn’t seem to have given the brand a major boost so far.

Max Knoblauch
9/26/25

Ford and GM reach 52-week highs as EPA seeks to repeal emissions rules

Shares of Ford and GM are each trading at 52-week highs on Friday, as investors pile into gas-powered US automakers with the looming end of the EV tax credit and the Trump administration’s potential repeal of vehicle emissions standards.

A lobby representing Ford, GM, and nearly all other major automakers has expressed support for the EPA’s proposal to repeal the long-standing endangerment finding that declared greenhouse gases a threat to human life. The finding provides the legal foundation for the EPA to regulate vehicle emissions.

Yesterday, EV giant Tesla urged the Trump administration to keep the standards in place.

Friday afternoon saw Ford shares reach their highest level since July 2024, while GM’s stock hit highs not seen since January 2022.

Citi equity analysts on the key valuation issue facing the market.

Citi’s US market analyst on the key valuation test facing the market

“It kind of comes down to, what inning do you think we are in this AI game?”

Matt Phillips9/26/25
markets
Luke Kawa

GameStop surges as company offers promotions to boost launch of “Pokémon” Mega Evolution set

GameStop is jumping as the company offers promotions to boost interest for today’s North American launch of the Mega Evolution set of the “Pokémon Trading Card Game.”

Options activity is a little more tilted to the bull side than usual. Over the past month, a little less than four calls have changed hands for every put option. As of 10:22 a.m. ET, that ratio is over five to one.

It’s a big day for collectibles fans and gamers alike: beyond the “Pokémon TCG” drop, there are also new collections from “Yu-Gi-Oh!” and “Magic: The Gathering” being released and “EA SPORTS FC 26,” as well.

As we’ve written, “Pokémon” trading cards have been skyrocketing in value, and GameStop’s collectibles business has been accelerating. These are two sides of the same coin.

Mega Gardevoir... here I come!

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