Premarket movers Alphabet (GOOGL) is up 0.5% after news the Google parent will replace Verizon in the Dow Jones Industrial Average. Verizon (VZ) is down 0.5%. Other Mag 7 stocks are mostly higher (Nvidia +0.6%, Tesla +0.6%, Meta +0.1%, Apple +0.6%, Microsoft -0.5%, Amazon -0.2%) Cerebras Systems (CBRS) falls 14% premarket after the newly public chipmaker gave an annual sales forecast that disappointed investors looking for it to take a bigger slice of the AI data center market. FedEx (FDX) is down 7% after the parcel delivery company posted its first earnings report since completing the spin off of its freight unit earlier this month. Results seem to have fallen short of investor expectations after a strong run-up in the first half of the year: the company cited margin pressure and global trade uncertainty in its outlook. FuelCell Energy (FCEL) rises 16% after the company said it reached an agreement with Fit Energy to supply 380 megawatts of clean on-site power for data centers using FuelCell Energy’s technology. Hertz (HTZ) slumps 16% after providing an update. The company also filed to offer $100m of stock. Twilio Inc. (TWLO) rises 3% as Goldman Sachs rates the software company buy with a Street-high $300 price target, citing AI tailwinds. Wendy’s (WEN) rises 23% as the stock climbed the ranks in Stocktwits and Reddit’s widely followed wallstreetbets forum.(zerohedge)