Overview of Key Overnight Developments on May 19

October 9 - Crescent Energy (CRGY.N) shares fell 1% to $12.88 in premarket trading on Friday after the company priced and completed a $1 billion follow-on offering related to an acquisition. The Houston, Texas-based shale oil and gas producer announced late Thursday that it would issue 80 million shares at $12.50 each, representing a 3.9% discount to its most recent closing price. CRGY will use the net proceeds from the offering to help fund its $4.2 billion acquisition of Devon Energy's (DVN.N) Eagle Ford oil and gas assets. A KKR (KKR.N) affiliate, which owns about 7.9% of CRGY, will subscribe to 40 million new shares. JPMorgan, KKR Capital Markets, Raymond James, Evercore, and Wells Fargo Securities will act as joint book-running managers for the offering. CRGY has approximately 330.4 million shares outstanding, with a market capitalization of $4.3 billion. The stock closed down 3.4% on Thursday, narrowing its year-to-date gain to 55%. According to data from London Stock Exchange Group (LSEG), 13 out of 16 analysts rate the stock as "strong buy" or "buy," 2 rate it "hold" and 1 recommends "sell," with a median price target of $18.50. DVN's shares were down 1.4% in premarket trading at $48.22. DVN rose 2.2% on Thursday, bringing its cumulative gain in 2026 to about 34%. (For the convenience of non-English speakers, Reuters has automated the translation of its reports into several other languages. Since automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for reader convenience. Reuters accepts no liability for any damage or loss caused by the use of automated translation.)

October 9 – According to Nikkei Asia (link), Apple has asked its suppliers to cut production of the new iPhone 18 Pro model due to weak demand, resulting in Apple (AAPL.O) shares falling 1.8% in premarket trading to $334.21. The report states that, against the backdrop of soaring memory chip costs and rising prices, the component orders for October have been reduced by at least 15% compared to initial requirements. Apple has not yet responded to a Reuters request for comment. The current stock price is about 1% lower than the all-time intraday high of $345.34 reached on September 22. According to data compiled by the London Stock Exchange Group (LSEG), the average rating from 43 analysts covering the stock is "Buy," with a median target price of $330. (For the convenience of non-English speakers, Reuters provides automated translations of its report into several other languages. As automated translations may contain errors or lack the required context, Reuters does not guarantee the accuracy of the automated translation and provides it solely for reader convenience. Reuters accepts no liability for any damage or loss resulting from use of the automated translation function.)

Citi published a research report maintaining a "Neutral" rating on the e-signature and agreement cloud platform DocuSign, with a target price of $72.

07:14 AM EDT, 10/09/2026 (MT Newswires) -- Mastercard (MA) Chief Executive Officer Michael Miebach said that cross-border payments currently present the best use case for stablecoins, Bloomberg reported Friday, citing an interview. Mastercard is interested in stablecoins for moving money rather than as an investment, Miebach said, according to the report. The company is an investor in a new firm called Open Standard, which recently issued a US dollar-pegged stablecoin, the report added. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)