This week belongs to earnings. MSFT, AAPL, and AMZN all report in the next four days. Microsoft is the single biggest event — its $2.8tn market cap means every line of cloud and AI revenue moves markets. KO and SPGI kick off Tuesday before the open. F reports Tuesday after hours. QCOM and LRCX follow on Wednesday. Options traders are already positioning — leads the S&P 500 in bullish options flow, up 33% year-to-date ahead of its own results.
NVDA announced a $1B investment in South Korea's Naver over the weekend. It also joined SK Group in a $500B+ initiative covering AI factories and next-generation memory. That scale is hard to ignore in a week already dominated by AI earnings narratives.
Citigroup lifted UNP to Buy with a $349 target. NSC was also upgraded to Hold. On healthcare, MCK received a Buy with a $1,000 target. CAH also got a Buy. Utilities moved the other way — DUK, XEL, and ETR all saw modest target cuts.
HTZ remains the most contested name in short markets. Short interest sits at 75% of free float with zero shares available to borrow. Put flow is heavy. Separately, DELL saw $74.8M in insider sales filed by Silver Lake Group. Oil prices eased after a US-Iran pause, pulling back energy shorts slightly.
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