Power Lunch 10/9/26

Trump suspended Russian energy sanctions via a temporary diesel-import deal with Putin ahead of U.S. midterm elections, while data-center power demand keeps outstripping forecasts.

• Musk telecom disruption doubted: Analyst Craig Moffitt of MoffittNathanson said physics (signal degrades with the square of distance) makes it unlikely SpaceX/Starlink can replicate 30 years of Verizon/AT&T/T-Mobile network buildout; telecoms fell 7-12%, SpaceX ticked up 0.7%.
• Generac's data-center TAM understated: CEO Aaron Jagfeld said Generac undersized the U.S. data-center backup power market, now seeing $15-20B vs an earlier $14-17B global estimate, with 2027 sales guidance jumping from $1B to roughly $2B.

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