5 Things to Watch on
June 24, 2026

Stocks are up more than +0.2% in premarket trading as markets attempt to recover from yesterday's -1.4% decline, with investors focused on Micron's (MU) after-hours results today as a key read on semiconductor demand and AI spending. Alphabet (GOOGL) will join the Dow Jones Industrial Average on June 29, replacing Verizon Communications (VZ).

Cerebras Systems (CBRS) is down -10% in premarket trading after its inaugural earnings report, with investors fixating on gross margin guidance despite a better-than-expected quarter. The concern centers on margins temporarily compressed by rented hardware from G42 to meet fast-ramping demand from its OpenAI contract, a 750 MW engagement now supporting ChatGPT 5.4 with the next generation in development. A newly formalized definitive agreement with Amazon (AMZN) for Trainium 3 disaggregated inference is an emerging upside driver with revenue expected to build in 2027.

Take-Two Interactive (TTWO) is up +2.4% in premarket trading after Rockstar Games confirmed GTA 6 pre-orders open tomorrow at midnight, with the title priced at $79.99 for standard and $99.99 for the Ultimate Edition on PS5 and Xbox Series X/S. Analysts initiated coverage with a Buy rating and $290 price target, projecting the release will drive a sustained, multi-year improvement in TTWO's earnings power, with average earnings of roughly $10 over fiscal 2027-2029. Precedent from prior Rockstar releases suggests multiple expansion through the pre-release cycle.

Boeing (BA) and Lockheed Martin (LMT) secured significant new defense awards yesterday. BA received a $2B fixed-price incentive contract from Space Systems Command for Phase II of the Mobile User Objective System satellite life extension program, covering design, development, production, and on-orbit testing of two satellites, with completion expected by September 2035. LMT received an $8.4B contract modification for the Precision Strike Missile Increment One program, lifting total contract value to $13.3B and expanding production capacity through fiscal 2032.

Nebius (NBIS) is up +2% in premarket trading after launching version 3.6 of its AI cloud platform, dubbed "Aether," headlined by Nebius Echo, an AI agent that lets users control cloud infrastructure using natural language. Echo is built directly into the web console, runs on open-source models via NBIS's Token Factory inference platform, and includes guardrails against unintended actions. The update also adds enterprise-grade security controls, customer-managed encryption keys, and a new developer credits program, as NBIS builds toward a fully agentic cloud architecture.