SANTA CLARA, Calif. — Shares of Everpure Inc., the data storage and management company formerly known as Pure Storage, surged 17.44% to $128.77 in Wednesday trading, adding $19.12, pushing the stock to a fresh high as investors continued reacting to an ambitious growth outlook the company laid out at its annual investor meeting earlier this week.

The rally extends a rapid run for Everpure shares, which climbed 6.41% on Tuesday alone following the company’s 2026 Financial Analyst Meeting, held at company headquarters in Santa Clara. That gain came on top of a broader surge that has carried the stock from the low $90s just weeks earlier to recent closes above $120, a move of roughly 30% over a relatively short span, driven by a combination of strong underlying financial results, inclusion in a major stock index, and an aggressive new long-term growth outlook.

At Tuesday’s investor meeting, Everpure outlined what it described as four strategic growth vectors underpinning its expansion plans: its core storage business alongside a related “Core AI” offering, Modern Data Software, Scale AI, and Hyperscale Solutions. The company said its traditional core storage business is expected to continue gaining market share, while the three newer growth areas, Modern Data Software, Scale AI and Hyperscale Solutions, are projected to account for roughly 20% of total company revenue by fiscal 2030.

Everpure Chief Executive Officer Charlie Giancarlo described the company’s current position in stark terms during the presentation, saying Everpure is at an “inflection point” as it expands beyond its traditional storage business into enterprise data management and hyperscale computing solutions.

The company reaffirmed its fiscal 2027 guidance at the meeting, projecting revenue of between $5.03 billion and $5.07 billion, representing year-over-year growth of 37% to 38%, alongside non-GAAP operating income of $940 million to $960 million, an increase of 48% to 51% from the prior year. Looking further ahead, Everpure introduced a preliminary fiscal 2028 outlook, projecting revenue of $7 billion to $7.3 billion, representing growth of 39% to 45%, with non-GAAP operating income projected at $1.7 billion to $1.9 billion, implying year-over-year growth of 80% to 100%. The company said its capital allocation priorities going forward include organic investment, maintaining balance-sheet strength, strategic acquisitions and share repurchases.

That ambitious guidance followed a strong second-quarter earnings report in August, when Everpure posted sales of $1.186 billion, comfortably ahead of the $1.097 billion analysts had expected, alongside adjusted earnings of 70 cents per share, beating the 58-cent consensus estimate.

Wednesday’s gains also continue to reflect investor enthusiasm tied to Everpure’s addition to the S&P 500 index, effective at the market open on September 21, when the company replaced The Trade Desk among the index’s 500 constituent companies. Everpure Chief Financial Officer Tarek Robbiati framed the milestone as a validation of the company’s recent execution. “Joining the S&P 500 is a powerful validation of the disciplined execution and progress our team has delivered quarter after quarter,” Robbiati said. “As enterprises race to make their data AI-ready, this milestone reflects the strength of our financial results and the confidence the capital markets place in our strategy. We are energized for what’s ahead.”

Index inclusion of this kind often triggers substantial buying activity independent of a company’s underlying fundamentals, since funds that track the S&P 500 are required to purchase shares of any newly added company to maintain alignment with the index, a dynamic that market analysts have said contributed meaningfully to Everpure’s rapid share price appreciation in the days surrounding the rebalance.

Wall Street’s assessment of the stock has grown increasingly bullish in recent weeks. Needham analyst Matthew Calitri initiated coverage of Everpure with a Buy rating and a $140 price target on September 17, citing robust customer demand and channel checks pointing to rising storage needs even after recent price increases. Morgan Stanley has maintained an Overweight rating on the stock, though the firm has told clients it prefers to buy into any post-earnings weakness rather than chase the stock higher ahead of the company’s most recent print, a stance that reflected caution about how richly the stock’s recent rally had already priced in expectations for strong results.

Not every assessment of the stock’s valuation has been as favorable. An analysis from GuruFocus flagged Everpure as significantly overvalued following its gains earlier this week, with the stock trading roughly 40% above the firm’s estimated fair value at the time, even as the same analysis assigned the company a GF Score of 79 out of 100, reflecting above-average financial health and growth prospects overall.

Everpure, founded in 2009 by John Colgrove and John Hayes, operated for 16 years under the name Pure Storage before rebranding to its current name in 2026. The company describes its platform as helping organizations manage their data more efficiently while reducing energy consumption, positioning its technology as particularly well-suited to the demands of artificial intelligence workloads that require rapid, reliable access to large volumes of data.

With shares having climbed roughly 70% since the start of the year even before Wednesday’s gain, and with the company now guiding toward accelerating profit growth through fiscal 2028, investors are likely to continue watching closely for execution against that ambitious roadmap, particularly given how much of the stock’s recent rally appears tied to expectations for continued strong performance across its newer AI, hyperscale and modern data software growth areas.

The S&P 500 and Nasdaq recovered from their session lows after Reuters reported that US and Iranian negotiators were exploring a phased path to ending the war. The proposed plan would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran.

US and Iranian leaders traded barbs this week at the UN General Assembly. Brent crude climbed about 4% to $107 a barrel after a Houthi missile attack on Saudi Arabia revived concerns about supply disruptions.

“This just reinforces the view that we’re dealing with one major market catalyst right now,” Bill Northey, senior investment director at US Bank Wealth Management, told Reuters. “It’s really all about oil and inflation and the effect on interest rates, and then the interest rate cascading across the capital markets.”

Major AI stocks were mixed. Microsoft and Broadcom fell about 1%, while Advanced Micro Devices gained 1%.

Live Events

Meta Platforms rose 3.4%, a day after the social media company unveiled a small handheld device designed for use with its recently launched AI assistant.
Oracle dropped 4.1% after a report said the company had issued a “force majeure” notice concerning a New Mexico data center. Blue Owl, the project’s developer, fell 5%.Treasury yields climbed, with the 30-year bond yield reaching its highest level since 2004.

Meanwhile, the S&P 500 lost 2.20 points, or 0.03%, to end at 7,703.83 points, while the Nasdaq Composite gained 1.76 points, or 0.01%, to 26,937.79. The Dow Jones Industrial Average fell 162.41 points, or 0.32%, to 51,349.18.

The S&P 500 has traded just below 19 times expected earnings this week, its lowest valuation since 2023, according to LSEG data. AI-related heavyweights have accounted for much of the recent increase in earnings expectations.

US President Donald Trump welcomed Chinese President Xi Jinping to the White House for a summit expected to be rich in symbolism but offer limited substance on issues including AI, trade, Taiwan and the Middle East war.

Data released on Wednesday pointing to strong business activity strengthened expectations that the Federal Reserve could raise interest rates again after last week’s 25-basis-point increase. Traders are pricing in a nearly 70% chance of another hike next month, according to the CME FedWatch Tool.

New York Fed President John Williams, a voting member of the Federal Open Market Committee, said on Thursday that it was reasonable to expect the central bank might need to raise rates again before the end of the year.

MGM Resorts tumbled 11% after media mogul Barry Diller’s People Inc. withdrew its proposal to acquire the casino operator.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)

CHICAGO — ADM’s fourth annual regenerative agriculture report released on Sept. 15 highlighted the company’s recent progress in supporting farmers, strengthening agricultural supply chains and delivering measurable environmental outcomes around the world. 

In 2025, ADM’s regenerative agriculture programs engaged more than 56,000 farmers across approximately 4.6 million acres, 11 countries and 10 crops. Compared with regional benchmarks, the programs resulted in approximately 946,000 tonnes of CO₂e reductions, the report said. 

“Resilience starts on the farm,” said Greg Morris, ADM’s senior vice president and president, Ag Services and Oilseeds. “By improving and protecting soil health, farmers can be better equipped to adapt to changing conditions and maintain productive operations. That resilience can extend across the value chain, helping strengthen the food system we all depend on.” 

ADM also expanded collaboration across the value chain through new partnerships. The company announced in July that General Mills and Walmart joined ADM in a strategic collaboration to accelerate regenerative agriculture across 40,000 Midwest wheat acres, specifically key growing regions where General Mills sources wheat from ADM for products sold through Walmart and Sam’s Club. A year ago, ADM, PepsiCo, Inc. and Mars, Inc. announced they would support 24 farmers on 5,454 hectares in adopting sustainable applications across their crop rotations in Poland.

The Chicago-based company said these collaborations bring together farmers, ADM and downstream customers to help scale regenerative agriculture while creating value across the supply chain. 

“ADM views agriculture as a powerful way to meet evolving customer needs, and our work in regenerative agriculture demonstrates ways in which we are uniquely positioned to connect agricultural production with lower-carbon markets at scale,” Morris added. 

Since 2023, ADM’s annual report has provided a transparent view of the program’s approach, progress and results, as well as the partnerships helping move the work forward. 

“For this progress to last, regenerative agriculture has to work on the farm and across the value chain,” Morris said. “That means listening to farmers, using data to understand outcomes and improve our programs, and working with customers and partners to build market demand that can help these practices endure and grow.”