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Atlas Energy Solutions Closes $424M Financing
Atlas Energy Solutions closed a $424M committed senior secured bridge facility provided by Goldman Sachs and Barclays. Backed by the two cost reimbursement agreements announced previously on September 25, the facility will fund the purchase of power generation and balance-of-plant equipment for two significant data center projects with first power for both expected in late 2027. The facility is a $424M delayed draw term loan. Atlas expects to draw on it as equipment payments come due and has drawn $171M at closing. The loan has an initial maturity of 180 days, with an option to extend for an additional 184 days upon the consummation of energy supply agreements for the respective projects, lender consent and other conditions. It bears interest at a rate equal to the Adjusted Term SOFR Rate plus 2.50%, increasing by 0.50% six months after the date of the signing. Atlas has the ability to request incremental commitments of up to $286 million, subject to lender consent and other conditions.
Major Averages Rise as Oil Prices Retreat
The major averages advanced on Friday as easing oil prices and retreating Treasury yields provided relief at the end of a volatile week. Oil and fuel prices pulled back during the session following news that the U.S. and Iran moved closer to an agreement that would lift naval blockades on tankers in the Persian Gulf and ease economic measures against Tehran. Of note, Meta pulled back today, but still closed the week with a gain of over 10% as it followed up on its recent Muse AI agent launch with a series of hardware releases.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Akamaiannounced a $11.6B multi-year agreement with AnthropicCostcoreported upbeat Q4 earnings, with CEO Ron Vachris saying he sees "strong pipeline" for new warehouses internationallyThe Federal Reserve is working on a plan to raise the asset thresholds that trigger stricter oversight of big bank, Reuters reportsBASFconfirmed "exploratory work" with the RAG Foundation and Evonik Industries AGon a possible acquisition of EvonikMetais adding a clearer safety warning within Muse after a security researcher discovered a vulnerability in the AI agent that could let an attacker access a user's sensitive personal information, The Information reports2. WALL STREET CALLS:Nikedowngraded to Underperform at BofA as turnaround takes longerBarclays upgraded Humanaon confidence in star ratings boostHSBC downgraded Twilioto Reduce after Muse-driven rallyHSBC upgraded Synopsysto Buy on business model transformationKeyBanc downgraded Comcastto Underweight on deteriorating metrics3. AROUND THE WEB:SK Hynixsubsidiary Solidigm is eyeing a potential 2027 IPO, Reuters reportsBlackstone'sglobal head of private equity Joseph Baratta is preparing to leave the company, WSJ reportsA rumor regarding PayPalas highlighted in Ben Harrington's M&A-focused Betaville blog, contacts tell The FlyAnthropic is asking shareholders to approve a Palantir-stylestructure granting its seven co-founders 50.1% of voting power if three retain minimum stakes, The Information saysFollowing People's Incorporated'sdecision to withdraw its bid for MGM Resortsyesterday, MGM is now in discussions to make a bid for People Incorporated, WSJ says4. MOVERS:Atlas Energygained after its subsidiaries executed separate cost reimbursement agreement with a frontier AI labGenius Sportsincreased in New York after JPMorgan initiated coverage of the stockTwiliodeclined after HSBC downgraded the stock to Reduce from HoldKodiak AIfell after announcing plans to launch its unsupervised long-haul driverless service on the Dallas-Houston freight lane by the end of 2026Zscalerwas lower after appointing Ross Tackett as Chief Revenue Officer5. EARNINGS/GUIDANCE:Astrotechreported FY26 resultsScholasticreported Q1 results and backed its outlook for FY27Legacy Educationreported Q4 results, with EPS higher year-over-yearRezolutereported Q4 results, with EPS missing consensusCarnivalto report Q3 results on September 29INDEXES:The Dow rose 478.64, or 0.93%, to 51,828.62, the Nasdaq gained 129.34, or 0.48%, to 27,068.72, and the S&P 500 advanced 39.28, or 0.51%, to 7,743.41.
Major Averages Rise as Oil Prices Retreat
The major averages were higher near midday as easing oil prices and retreating Treasury yields provided relief at the end of a volatile week. Oil and fuel prices pulled back during the session following news that the U.S. and Iran moved closer to an agreement that would lift naval blockades on tankers in the Persian Gulf and ease economic measures against Tehran. Of note, Meta looks set to close the week up nearly 15% as it followed up on its recent Muse AI agent launch with a series of hardware releases.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Akamaiannounced a $11.6B multi-year agreement with AnthropicCostcoreported upbeat Q4 earnings, with CEO Ron Vachris saying he sees "strong pipeline" for new warehouses internationallyThe Federal Reserve is working on a plan to raise the asset thresholds that trigger stricter oversight of big bank, Reuters reportsBASFconfirmed "exploratory work" with the RAG Foundation and Evonik Industries AGon a possible acquisition of EvonikScotts Miracle-Groagreed to acquire the Black Kow brand and provided guidance for FY26 and FY272. WALL STREET CALLS:Nikedowngraded to Underperform at BofA as turnaround takes longerBarclays upgraded Humanaon confidence in star ratings boostHSBC downgraded Twilioto Reduce after Muse-driven rallyHSBC upgraded Synopsysto Buy on business model transformationKeyBanc downgraded Comcastto Underweight on deteriorating metrics3. AROUND THE WEB:A rumor regarding PayPalas highlighted in Ben Harrington's M&A-focused Betaville blog, contacts tell The FlyAnthropic is asking shareholders to approve a Palantir-stylestructure granting its seven co-founders 50.1% of voting power if three retain minimum stakes, The Information saysTeslais beginning first customer deliveries of its long-delayed Semi, marking its entry into the commercial trucking market and expanding its addressable market beyond passenger vehicles amid elevated U.S. diesel prices, Reuters saysYouTubeCEO Neal Mohan has rejected the idea of joining Meta'smultistate settlement agreement related to child safety, CNN reportsFollowing People's Incorporated'sdecision to withdraw its bid for MGM Resortsyesterday, MGM is now in discussions to make a bid for People Incorporated, WSJ says4. MOVERS:Atlas Energygains after its subsidiaries executed separate cost reimbursement agreement with a frontier AI labGenius Sportsincreases in New York after JPMorgan initiated coverage of the stockTwiliodeclines after HSBC downgraded the stock to Reduce from HoldKodiak AIfalls after announcing plans to launch its unsupervised long-haul driverless service on the Dallas-Houston freight lane by the end of 2026Zscalerlower after appointing Ross Tackett as Chief Revenue Officer5. EARNINGS/GUIDANCE:Astrotechreported FY26 resultsScholasticreported Q1 results and backed its outlook for FY27Legacy Educationreported Q4 results, with EPS higher year-over-yearRezolutereported Q4 results, with EPS missing consensusCarnivalto report Q3 results on September 29INDEXES:Near 12:30 pm ET, the Dow was up 482.29, or 0.94%, to 51,832.27, the Nasdaq was up 169.39, or 0.63%, to 27,108.76, and the S&P 500 was up 42.00, or 0.55%, to 7,746.13.
Stock Futures Rise as Akamai Signs $11.6B Deal with Anthropic
Stock futures rose Friday as easing oil prices and retreating Treasury yields provided relief after a volatile week. Global equities are headed for their strongest weekly performance since early August as AI optimism and potential progress toward a U.S.-Iran truce and reopening of the Strait of Hormuz supports sentiment.In pre-market trading, S&P 500 futures gained 0.33%, Nasdaq 100 futures rose 0.55% and Dow futures climbed 0.31%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Akamaiup 15% after announcing an $11.6B multi-year agreement with AnthropicPeople Incup 10% following a report that MGM Resortsis discussing making a bid to acquire the companyAtlas Energyup 9% after announcing a $340.5M purchase agreement with Wyoming Machinery CompanyUP AFTER EARNINGS -Scotts Miracle-Group 1%DOWN AFTER EARNINGS -Scholasticdown 12%Legacy Educationdown 10%Costcodown 1%LOWER -Comcastdown 2% after KeyBanc downgraded the stock to Underweight on deteriorating metricsNikedown 2% after BofA downgraded the stock to Underperform on a prolonged turnaroundTwiliodown 5% after HSBC downgraded the stock to ReduceZscalerdown 4% after naming Ross Tackett as Chief Revenue Officer
Atlas Energy Signs Cost Reimbursement Agreements with AI Lab
Atlas Energy Solutions announced that two wholly owned, indirect subsidiaries of Atlas have executed separate cost reimbursement agreements with a leading frontier AI lab in conjunction with the execution of equipment purchase agreements to secure long-lead-time supporting equipment and incremental power generation equipment for specific data center projects. The cost reimbursement agreements allocate the related equipment to this specific customer and facilitate near-term financing. The first cost reimbursement agreement supports the purchase of balance-of-plant equipment, including emissions control systems, electrical distribution equipment, battery energy storage systems, and other supporting infrastructure to support the deployment of Atlas' existing generator orders under its previously announced Global Framework Agreement with Caterpillar Inc. The second cost reimbursement agreement supports an incremental 283 megawatts of purchase commitments for Caterpillar power generation equipment to facilitate the initial power ramp of a separate data center project. These generating capacity purchases are in addition to Atlas's obligations under the GFA with Caterpillar. Additionally, Atlas executed a purchase agreement for 328 megawatts of generating capacity, consistent with its obligations under the GFA for 2027 deliveries.
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