Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Wednesday, September 24th, and I'm your host, Kim Khan. Our top story so far,

NFL Commissioner Roger Goodell says the league could begin renegotiating terms for its television rights with media partners as soon as 2026, four years earlier than the current agreement's opt-out clause.

Gaddell said on CNBC, the NFL is leaving money on the table when you look at other recent

sports media deals. To revisit terms, the league would need to convince its current media partners,

Disney, NBC Universal, Paramount, Amazon, and Fox to start discussions

on any new deal. Back in 2021, the NFL entered into a $11-111-year rights deal that includes

an opt-out clause after the 2029-30 season, with all of its media partners except Disney,

which has one extra year of rights. I think our partners would want to sit down and talk to us at any time, and we continue to dialogue with them. I like that opportunity, Goodell said. Obviously, it's not going to happen this year, but it could happen as early as next year. That could happen. The reason why we felt so strongly about the option is the landscape is changing. It could be a long-term deal with the benefit of having that stability and security of it, but I think the reality of it is it changes so quickly that you want to have the ability to move. I think those options are going to give us a lot of flexibility to potentially go earlier, he said. If the NFL manages to secure a new deal, it could also hike the salary cap in future seasons, giving teams more money to spend on players and expand

rosters. Among active stocks, Micron is lower following a sell-the-news reaction to better-than-expected

quarterly results and guidance. Morgan Stanley analyst Joseph Moore, who has an equal weight rating

on Micron and kept his $160 price target, says he believes the stock is expensive on

book value, extremely expensive

on a free cash flow metric, and expensive on cycle-adjusted earnings.

Freeport MacMaran is slumping after guiding for Q3 consolidated sales to come in lower by

4% for copper and 6% for gold compared with its July forecast.

The company previously forecasted sales of 1 billion pounds of copper

and 350,000 ounces of gold for the quarter. And Acadia Healthcare is rallying after

activist Engine Capital reported a 3% stake in the behavioral healthcare operator and is pushing

for board changes and other moves. Engine Capital is urging Acadia to halt capital-intensive growth

projects, fix its

core business, and review its asset portfolio. On the economic front, August new home sales jumped

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