Markets Alive With Earnings, AI Chips, and Robotaxi Deals

Earnings Season in Full Swing

Tuesday marks a packed reporting day. Jabil, CarMax, and La-Z-Boy all reported this morning. CarMax carries 11.5% SI % FF — elevated for a consumer name. The week's biggest print lands Monday June 23. FedEx reports Q4 results after the close. Options traders have already clustered near-term expiries at June 18 and June 26, signalling active hedging. Carnival also reports that day. Long-dated options through September suggest traders expect a wide range of outcomes.

Robotaxi Trio Grabs Headlines

Stellantis, Wayve, and Uber announced a joint Level 4 driverless robotaxi partnership covering Europe and North America. The deal adds competitive pressure to Tesla, whose own robotaxi plans are closely watched. Elon Musk also made headlines today, saying dollars will eventually be replaced by "mass and energy" — reaffirming his longer-term bets on lunar factories and AI infrastructure.

AI Chips Under Short Attack

Cerebras Systems remains the standout short interest story. SI % FF hit 32.4%, up 26 points in one week. Zero availability means bears cannot easily add more. Analysts meanwhile lifted AMD targets to $487.90, backed by 42 Buy ratings. The contrast is sharp — one AI chip name is being shorted aggressively while another attracts analyst praise.

Biotech Insiders Buy Big

Summit Therapeutics insiders spent over $52M buying SMMT shares this month. CEO Robert Duggan led with a $50M purchase. That scale of insider buying is rare. Robinhood also drew a $20.2M buy from early backer Ribbit Capital — a fresh signal of confidence in the fintech platform.