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

1316 ET - A cybersecurity workflow that would have taken months in the days before AI can now be executed within five to eight minutes using AI agents, Galina Antova, CEO of cybersecurity firm Kai, said at The WSJ Technology Council Summit. "So when the attackers are executing at machine speed, defense can do that at the same time," Antova said. Of course, most large enterprises have to incrementally revamp their cybersecurity stacks over time to arrive at an end-to-end, AI-powered cybersecurity solution. "You're flying the plane as you're rebuilding it," she said. "But the horizon is few months. The horizon is not three years, because we don't have that kind of time." (elias.schisgall@wsj.com)

1240 ET - The SEC isn't shying away from crypto regulation, even after the failure of a key bill that would have set the first comprehensive regulatory framework for digital assets. "With or without legislation, we will act decisively within the SEC's statutory authority to deliver certainty for American investors and for the entrepreneurs shaping our technological future," SEC Chair Paul Atkins says in a post to X. The Clarity Act, which would have helped usher digital assets into the mainstream financial system, fell short of the votes required to advance in Congress in a Tuesday vote. (kelly.cloonan@wsj.com)

1200 ET - Union Pacific is set up for a strong 2027, UBS analysts write in a note, upgrading the stock to buy. Their analysis suggests 3.5% volume growth in 2027, including 6% to 7% intermodal volume growth. Signals from the trucking business also indicate a pricing tailwind next year. And though their model doesn't reflect the proposed merger with Norfolk Southern, whose outcome is uncertain, they see the deal as adding optionality for the stock. "We see multiple potential drivers of EPS growth and stock price appreciation in 2027 including volume growth, stronger pricing, and potential favorable developments in the merger regulatory review process," the analysts write. Shares are up 0.6%. (elias.schisgall@wsj.com)

1100 ET - Athabasca Oil's shares have enjoyed a strong run up this year, but BMO's Tariq Saad says that its premium valuation could limit the shares, downgrading the stock rating to market perform from market outperform. The analyst downgradedshares, saying they are "now within the 10% threshold of our target price." Shares fall 4.5% to C$10.94, which is 56% higher year-to-date. Still, Saad says that Athabasca has one of the strongest growth trajectories among its peer group. In the near-term, he thinks "ATH's premium valuation could limit further share price outperformance." (adriano.marchese@wsj.com)

1057 ET - Dollarama's domestic Canadian market remains a stable growth engine for the business while its international units develop, according to TD Cowen's Brian Morrison. The analyst says that for the rest of the business, "Dollarcity is in growth mode, Mexico drag [is expected] to ease as initial start-up investments anniversary, and Australia transformation is on track." He thinks peak expansion losses should moderate in F2028. "At current levels, we believe little value is being ascribed to Mexico and Australia despite representing the next key catalysts. We view the recent pullback as a buying opportunity." Dollarama is up 3% to C$170.26. (adriano.marchese@wsj.com)

1050 ET - Investors are primarily looking for three things out of AutoZone's upcoming earnings report, Morgan Stanley analysts say in a research note. First, they want to see comparable sales growth of 2.5% or higher, which would support confidence in the company's top-line stabilization. Investors will also want to see expense growth at the low-end of the company's recent rate, and clearer productivity gains from newer stores and investments, the analysts say. All of these metrics appear to be achievable, meaning a re-rating could be forthcoming, they add. The Morgan Stanley note echoes the view of UBS analysts, who a day earlier said AutoZone's upcoming earnings readout could mark an inflection point for the stock. (connor.hart@wsj.com)

1045 ET - Qatar leads most major Gulf stocks lower, with the QE Index falling 1.4%, while Abu Dhabi's benchmark index declines 0.2% and the Dubai Financial Market General Index bucks the trend, rising 0.7%. The divergence across Gulf equities largely reflects sector composition, positioning and market-specific exposures, says Mazen Abou Ismail, head of trading desk at FFA Private Bank Dubai. Qatar's financial-heavy market makes it particularly sensitive to pressure on banks and broader geopolitical risk, while Dubai is benefiting from more diversified corporate exposure. Abu Dhabi remains relatively defensive, though its banks are facing some pressure, he says. (farhan.rafid@wsj.com)

1034 ET - Amazon boosted its minimum starting wage to $20 an hour for its full-time core operations employees in the U.S., workers who handle tasks like sorting, packing and transporting orders. The increase could put pressure on other employers to invest in raises for their low-wage workers. Walmart, another retail and grocery giant that similarly employs a swath of hourly workers in the U.S., pays its team associates a rate that starts at $14 an hour, and its average U.S. hourly frontline associate makes more than $18.50 an hour, according to the company's website.(kelly.cloonan@wsj.com)

1033 ET - Amazon is raising the minimum starting wage for U.S. full-time core operations employees by $1 an hour, to $20 hourly. The increase comes just before the peak holiday shopping season, when the e-commerce company typically goes on a hiring spree to ensure it can handle a flood of online orders. The company hasn't yet detailed its seasonal hiring plans for this year, but last year it said it planned to hire 250,000 full-time, part-time, and seasonal positions throughout its fulfillment and transportation network across the U.S. (kelly.cloonan@wsj.com)

1010 ET - August's retail sales were stronger than July's, rising 1.2%. However, a late Labor Day this year could push some store sales into the next retail sales print. Spending recovered from declines in gasoline station receipts and motor vehicle sales as promotional calendar distortions faded, wrote analysts at William Blair. "These tailwinds were partly offset by an unusually late Labor Day, which delayed portions of the back-to-school shopping season and likely shifted some spending into September," they wrote. (jessica.coacci@wsj.com)

1006 ET - Costco's core earnings results could again fall short of Wall Street forecasts, Oppenheimer analysts say in a research note. Current consensus estimates seem to represent the best-case scenario, assuming that management will deliver on plans to rein in expenses and that excess fuel profits won't be reinvested into the business, the analysts say. As for the stock, the analysts add that "although we view current levels as an attractive entry point, we would be positioned to take advantage of any weakness vs. playing for a positive catalyst on the print." Costco is slated to report F4Q results next week. (connor.hart@wsj.com)

0950 ET - French insurer Axa is on course to improve its valuation by integrating artificial intelligence faster than rivals, Citi's James Shuck writes. "We remain very positive on the Axa share story and expect the company to rerate as it continues to deliver low volatility, diverse growth in the context of contained controllable cost inflation," Shuck says. Citi has a buy rating on the stock and a 50.40-euro target price. Shares are up 0.7% at 43.96 euros and are 7.3% higher over the year to date.