The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0800 ET - McCormick continues to operate in a dynamic environment, CEO Brendan Foley says in prepared earnings remarks. "Geopolitical volatility, elevated fuel costs, and persistent inflation continue to influence consumer confidence and spending," he says. "In the U.S., higher gas prices and the Cyclospora outbreak have added pressure and contributed to softer traffic across foodservice and grocery channels." Within this environment, consumers are looking for practical ways to manage budgets, Foley says, including using what's in their pantries, repurposing leftovers and seeking simple, affordable ways to add flavor at home. (connor.hart@wsj.com)

0755 ET - Consumers continue to be incredibly conscious of value, McCormick CEO Brendan Foley says in prepared earnings remarks. And in many cases, shoppers are buying fewer spices and seasonings when forced to pay higher prices for foods such as seafood and beef, he adds. These behaviors have prompted McCormick to take steps to improve consumption and strengthen its competitive position. The company is working to optimize its portfolio to better serve its customers' needs, while also selectively taking pricing and promotional action to drive sales, Foley says. Looking ahead, McCormick will increase investments around holiday activations and continue to scale its high-growth platforms such as finishing salts and sugars. McCormick is up 5% premarket. (connor.hart@wsj.com)

0742 ET - Adidas's sales guidance for the current year appears less conservative, as pressures in the sporting-goods market pile up, Deutsche Bank's Adam Cochrane says. The German group has been a "frustrating stock" for investors, the analyst writes in a research note. The shares have suffered from wider industry dynamics and a lack of earnings upgrades rather than any operational errors, Cochrane says. The company's sales outlook was viewed as conservative, but "now it appears more realistic," he adds. Adidas expects currency-neutral revenue to increase between 9% and 10% in 2026 at a time when the industry is grappling with inflation, rising competition and high levels of promotional activity. The bank confirms its buy rating on the stock. Shares fall 1%. (andrea.figueras@wsj.com)

0731 ET - Citi boosts its 12-month bitcoin target price to $113,000 from $82,000 as debasement fears return to markets. Renewed investor concern that high government deficits could erode the value of fiat currencies is one reason behind the shift in thinking. Regulatory clarity is another. "Paradoxically, the failure of the Clarity Act which spurred agency rulemaking, helped crypto regain technical levels," the analysts say. Citi adds that ETF inflows should be relatively sticky and consistent as investors gradually adopt bitcoin into portfolios. Bitcoin is 0.2% higher at $83,898. (joseph.wilkins@wsj.com)

0655 ET - Ferrari remains a compelling long-term buy-and-hold investment, with shares trading at a discount to their long-term trading range, AlphaValue analyst Adrien Brasey writes. The company's unique business model, underpinned by scarcity, a record order book covering all of 2027, and sustained pricing power, provides exceptional earnings visibility and resilience, he says. The latest guidance upgrade, combined with personalization revenues ahead of plan, reinforces Ferrari's long-standing track record of exceeding guidance and achieving strategic targets ahead of schedule, he adds. AlphaValue says it thinks the company's 2030 financial targets represent a floor rather than a ceiling. It rates Ferrari at add with a 438 euro target price. Shares rise 0.1% to 346.80 euros. (dominic.chopping@wsj.com)

0647 ET - BMW signaled lower profit margins in the medium term at its investor day, but also offered a more credible path to improvement driven by self-help rather than hopes of an industry recovery, Deutsche Bank analyst Tim Rokossa writes. "We see the investment case as partially de-risked, although China remains the key uncertainty." Management is taking more decisive action on costs, localization and the dealer network, while still assuming broadly stable volumes and continued positive EBIT, the bank says. The absence of a formal capital-return framework was likely the biggest source of initial investor disappointment, but management reiterated its willingness to distribute excess cash, it adds. The bank lowers its target price on the stock to 71 euros from 78 euros and keeps its buy recommendation. Shares fall 0.1% to 55.24 euros. (dominic.chopping@wsj.com)

0635 ET - The U.K.'s FTSE 100 is on track to hand back a summer's worth of gains, as sliding banks and healthcare stocks drag the index sharply lower Thursday. The index falls 1.6%, putting it on track to close at a level not seen since June. All FTSE 100 sectors are lower Thursday. Higher borrowing costs are weighing on the index, AJ Bell's Russ Mould says. HSBC and NatWest drop 3.25% and 3.05%, respectively, while Standard Chartered falls 2.7%. London's premier index is yet to close at the high it hit before the start of the U.S.-Iran war in February, with the index 4.3% off its Feb. 27 record close. (josephmichael.stonor@wsj.com)

0633 ET - Campari can boost sales and profitability, Bank of America says, lifting its rating on the distiller to buy from neutral. The Milan-listed group behind Aperol bitters can increase organic revenue growth to 4%-5% from next year, while efficiency in cost inputs can support wider margins, BofA's Andrea Pistacchi and Bastien Agaud write in a note to investors. That should boost the bottom line and establish Campari as one of the fastest-growing companies in European staple goods, the analysts say. The bank lifts its target price on the stock to 7.60 euros from 7.00 euros. Shares on Thursday trade 1.1% higher at 6.20 euros. (joshua.kirby@wsj.com; @joshualeokirby)

0628 ET - BofA reiterates a buy rating on Kongsberg with a NOK400 price target, implying 25% upside. The popularity of the company's Joint Strike Missile is key, not least given its role on the global F-35A rollout. There is a potential $13 billion procurement opportunity from initial missile sales. Its NASAM missile defense system is also positioned for Europe's air-defense rebuild, with a roughly EUR50bn MRAD procurement opportunity and EUR7bn revenue opportunity. (alistair.macdonald@wsj.com)

0620 ET - The U.K. manufacturing sector continued to record modest growth in September, although rising energy costs due to the Middle East conflict threaten to weaken the outlook, Matt Swannell at the ITEM Club says in a note. The S&P Global manufacturing PMI edged up to 51.9 in September from 51.7 in August, with new orders remaining relatively healthy. But challenges are likely to gather pace, with the sector expected to lose momentum ahead, Swannell says. "Demand for consumer goods will cool as the resilience we've seen in the retail sector fades and consumers' spending is squeezed by rising inflation." Elevated energy prices are likely to persist through the first half of next year, pushing up manufacturing costs and goods inflation, Swannell adds. (don.forbes@wsj.com)

0617 ET - Vestas Wind Systems' near-term demand fundamentals seem in good shape, and shares look attractive at current levels, JPMorgan analysts write. The company reported third-quarter large orders of 2.75 gigawatts, a decline of 31% on year. The weakness is at odds with the fundamentals and underlying market demand, in the bank's view. This could be explained by either Vestas deciding not to announce a few large U.S. orders, or some bookings moving to the fourth quarter amid continuing uncertainty on tariffs. The positive in orders: Australia coming back with around 1 gigawatt of orders announced on the final day of the quarter, it adds. The bank rates Vestas at overweight with a 295 Danish kroner price target. Shares fall 2.2% to 191.80 kroner. (dominic.chopping@wsj.com)

0602 ET - Micron Technology's decisive beat-and-raise earnings print suggest the company has a strong, multiyear earnings narrative, J.P. Morgan analysts write. The chip maker guided for revenue in the next quarter of $61.5 billion--ahead of consensus estimates of $56.6 billion. Micron will be able to maintain wide margins, as supply tightness in memory chips continues through 2028 at a minimum, they say. Micron's management signaled a willingness to initiate a stock repurchase program, according to JPM. "The capital return story in our view represents a substantial multiyear value-unlock lever," the analysts say. Micron shares fall 0.25% premarket.