Sector Update: Energy

October 5 - ** Data center developer TeraWulf (WULF.O) saw its shares rise 3.2% to $16 in pre-market trading ** TeraWulf signed a revised agreement with Kentucky Power, a subsidiary of American Electric Power (AEP.O), to increase the contracted power capacity at its Muskie Data Campus in eastern Kentucky from 500 megawatts to 1 gigawatt ** The agreement advances the planned delivery timeline for the campus' second phase, a 500-megawatt project, from 2030 to 2029, subject to approval by the Kentucky Public Utilities Commission and depending on Kentucky Power's construction schedule ** The agreement is expected to provide $100 million in winter electricity bill credits for Kentucky Power’s residential customers, funded by TeraWulf, over the first 10 years of the contract ** As of the last close, the company’s share price had risen 34.8% so far this year.

October 5th - Shares of the restaurant chain Texas Roadhouse (ticker: TXRH.O) rose 1.2% in pre-market trading to $158.01 after Evercore ISI upgraded the stock from "in line" to "outperform." The brokerage lowered its target price from $220 to $200, which still represents a 28% upside from the stock's previous closing price of $156.14. Evercore stated that the comprehensive deployment of digital kitchen systems gives the restaurant greater confidence to manage peak-time demand, which will drive further growth in its takeout business and allow the company to test new menu items after years of limited innovation. The brokerage added that Texas Roadhouse’s pricing strategy is to keep prices below the inflation rate while continuing to focus on service, value, and execution, which should help maintain strong same-store sales growth. Of the 28 brokers covering the stock, 16 have a "buy" or higher rating, while 12 have a "hold" rating; the median target price is $211, according to LSEG compiled data. As of yesterday’s close, the stock is down about 6% year-to-date. (For the convenience of non-English speakers, Reuters has automated the translation of this report into several other languages. Because automated translation may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for readers' convenience. Reuters assumes no responsibility for any harm or loss resulting from the use of the automated translation function.)