Deals, Chips, and a Turnaround Under Pressure

M&A Heats Up the Morning

Two deals dominated early headlines. ABBV is closing in on an ~$11 billion acquisition of biotech APGE. Options markets flagged this Friday — APGE carries 18.1% short interest, making a squeeze likely at deal close. Separately, building materials giant CRH is nearing its biggest-ever acquisition of infrastructure firm ACA. The FT reports the deal could set a new record for CRH in size.

Micron Leads a Packed Earnings Week

MU is the marquee name reporting this week. Memory chip demand and AI server growth will drive the narrative Wednesday. FDX reports Tuesday — logistics demand trends and cost cuts are in focus. CCL also drops Q2 cruise numbers Tuesday, a read on consumer travel appetite. KBH rounds out Tuesday with homebuilder results.

Nike Warns Turnaround Takes Time

NKE CEO Elliott Hill told investors the recovery is progressing slower than hoped. "We still have work to do," he said. Short sellers have taken notice — bears have been adding to positions in consumer discretionary names broadly.

Chips and AI Under Short Pressure

Bears are piling into AI and semiconductor names. Wolfspeed (WOLF) sits at 103% SI of free float with zero borrow availability. Chip equipment insiders at AMAT filed over $80M in sales last week. Four executives sold near $590–$600 per share. ACN faces a double blow — analysts cut targets nearly 5% amid AI disruption fears.

Oil Bull Case Gains Attention

Commodity analyst Dan Dicker flagged a potential oil spike from $75 to $135 a barrel. XOM and CVX options saw fresh interest following those comments.