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Rothschild & Co cuts Flutter target to $119, says FanDuel turnaround is taking longer than expected
Rothschild & Co said it is losing patience with the pace of the turnaround at Flutter’s FanDuel and cut its price target to $119 from $169. The firm said FanDuel has reduced guidance four straight times, most recently lowering its 2026 EBITDA midpoint forecast by 22%. It described 2026 as another “transitional year” and said the turnaround is likely to take longer than anticipated. Flutter shares are down 58% in 2026.
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Moonshot AI brings Kimi K3 to AWS Bedrock under licence that charges hosts above US$20 million revenue
Chinese AI startup Moonshot AI has made its flagship open-source model, Kimi K3, available on Amazon Web Services’ Amazon Bedrock platform for building generative AI applications. The model is offered under revised commercial licensing terms that require payment if a hosting provider’s annual revenue exceeds US$20 million. AWS has said its AI business has surpassed a US$25 billion annual revenue run rate, putting the partnership in focus as a test of monetizing Chinese open models through third-party cloud platforms.
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US equity funds post fourth straight week of outflows, with $31.44 billion pulled by September 18
US equity funds saw a fourth consecutive week of net outflows in the week ended September 18, with investors pulling $31.44 billion. The withdrawals were driven by rising oil prices, inflation concerns and expectations of further Federal Reserve rate hikes. Broad-market funds faced heavy redemptions, while sector funds attracted inflows and bond-fund inflows slowed.
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6h ago
Copper prices seen pushing to new highs as global mine supply risks a 2026 decline
Global mined copper supply faces a risk of falling in 2026. Chile, the largest copper-producing country, is expected to see output drop 6.5% in the first half of 2026, while Indonesia and the Democratic Republic of Congo are projected to cut a combined 600,000 tonnes—nearly 2.5% of global supply. Copper prices have risen more than 45% over the past year as demand in China remains strong, with the Yangshan copper premium reaching its highest level since November 2022.
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