ERock, Inc.

ERock, Inc. has entered into a multi-year agreement with HD Construction Equipment, a subsidiary of Hyundai, for the supply of high-efficiency natural gas engine long blocks for its RockBlock generator. The agreement spans 2027 through 2028 and is intended to support increased production and help ERock fulfill large-scale orders from data centers, utilities, and other critical infrastructure operators. The long blocks form the core of ERock's proprietary natural gas generators and are engineered for reliability in the hyperscale data center segment. Chief Executive Officer John Carrington said long block supply is the foundation of the company's production and that the deal secures supply through 2028 as assembly capacity ramps, with production commitments extending into early 2028. ERock reported a $1.7 billion contracted backlog as of June 30, 2026, more than 400 operational sites, and approximately 1.1 GW of installed base, following major data center contracts with Meta and Microsoft. An HD Construction Equipment representative called the order a meaningful achievement that validates its engine long block technology in the emerging data center power market.

Erock Inc. jumped 22.84 percent on Wednesday to close at $13.82 after announcing a 470-megawatt equipment order from Anthropic that lifted its contracted power system sales backlog to $1.7 billion and extended production commitments into 2028. The rally came despite a weak second quarter in which net losses ballooned 748 percent to $67.7 million, largely on IPO-related charges, while revenue fell 42 percent to $39.88 million. CEO John Carrington said AI infrastructure is fundamentally reshaping power markets, and the company has begun assembly at its Hyperion facility while starting construction on the 366-megawatt El Paso Electric project for Meta's data center campus. For the full year, Erock is targeting revenue of $435 million to $465 million and adjusted EBITDA of $3 million to $9 million. The company, which listed on June 10, 2026, will face a key test in the third quarter as investors watch whether the Anthropic momentum attracts greater institutional interest.

T-Mobile and Gilead Sciences both received Buy upgrades on Monday, with Bank of America setting a $220 target on T-Mobile and HSBC setting a $155 target on Gilead. Pfizer was downgraded to Hold from Buy at HSBC, which trimmed its target to $28 from $32, while Datadog was cut to Market Perform from Outperform at Bernstein, though its target was raised to $226 from $180. Among other notable calls, Agnico Eagle Mines was upgraded to Buy at Jefferies with a $200 target, Okta was raised to Outperform at Scotiabank with a $165 target, and Delta Air Lines was cut to Outperform from Strong Buy at Raymond James with a target lifted to $104 from $80. New initiations included ERock with Outperform ratings from Evercore ISI and JPMorgan at a $28 target, and Glaukos with a Buy rating at H.C. Wainwright and a $168 target.