Markets Digest M&A, AI Risks, and Earnings Countdown

US Market Highlights

Infrastructure dealmaking grabbed attention today. MasTec agreed to buy Electrical Specialists for roughly $1.65 billion. The move extends MasTec's reach in electrical contracting. The deal signals continued appetite for infrastructure assets.

The Getty Images-Shutterstock merger hit a wall. GETY filed an 8-K/A disclosing termination of the material definitive agreement. That merger had been years in the making. Both SSTK and GETY shares face a reset after the deal collapse.

Wolfspeed fired a legal shot at Navitas Semiconductor, filing a patent infringement lawsuit in Delaware federal court. The semiconductor IP battle adds noise to an already volatile sector.

NVIDIA faces a fresh overhang. Reports say DeepSeek is developing its own AI chip. That news adds pressure on the $4.7 trillion giant. Options put activity tends to spike when AI supply-chain fears emerge. Insiders were already selling — a director filed $186M in sales last month.

Earnings on Deck

Levi Strauss reports Q2 results Tuesday. Tariff-driven cost pressures are the key watch. Delta Air Lines holds its Q2 earnings call Thursday. Airlines remain volatile on trade uncertainty and softening leisure demand. Major banks including Wells Fargo and Bank of America line up for Friday.

Short Interest & Sentiment

Bears are firmly dug into Chewy at 72.4% of free float. Sable Offshore saw short interest jump 7.7 percentage points in a week with zero shares available to borrow. In biotech, Exelixis put-call ratio hit 4.1 standard deviations above its 20-day mean — options traders are loading up on downside protection.

API crude data showed a smaller-than-expected draw of 399,000 barrels versus the 1.5 million barrel estimate. That miss could weigh on energy names Tuesday.