Accenture Surges 17% and Micron Posts Record Q4 Results as AI Stocks Lead October Rally

Stocks rose to open October on Thursday, lifted by a wave of AI-related earnings and product news, even as rising Treasury yields and uncertainty over the Federal Reserve's next rate decision tempered gains across the major indexes. The S&P 500 edged up 0.2% and the Nasdaq added 0.3%, while the Dow wavered near flat.

Accenture was the standout mover, surging roughly 17% after reporting fiscal fourth-quarter revenue of $18.68 billion, above the high end of its guided range, with broad-based growth across all geographic markets and industry groups. New bookings reached $22.2 billion for the quarter, up 4% in U.S. dollars and 5% in local currency, bringing full-year bookings to $84.5 billion. GAAP diluted EPS of $3.29 rose 46% year over year, and CEO Julie Sweet said the company reached a new high of 141 quarterly client bookings of $100 million or more. Accenture returned a record $11.5 billion to shareholders in fiscal 2026, including $7.5 billion in share repurchases and $4.0 billion in dividends.

Micron Technology also reported record fiscal fourth-quarter and full-year 2026 results, with Q4 revenue of $54.2 billion and full-year revenue of $133.2 billion, up 256% from the prior year. Fourth-quarter non-GAAP EPS reached $33.42 and gross margin expanded to 87%, each exceeding the high end of guidance. Management said it expects fiscal 2027 to be another record year as AI-related demand tightens supply conditions for memory and storage. Despite the blockbuster results, Micron shares declined roughly 1% to 3% during Thursday's session as rising bond yields weighed on sentiment.

Alphabet rose about 2% in premarket trading after Google unveiled Gemini 4 Argon, described as its most advanced AI model yet, with enhancements in cybersecurity, coding and complex professional work. The model was initially made available to a select group of trusted cybersecurity researchers ahead of a broader rollout. Rocket Lab was also among the notable premarket movers. The broader AI-related momentum helped offset pressure from higher Treasury yields and softer inflation data that left investors guessing on the Fed's next move.