Earnings season is in full swing. Palantir and Vertex Pharmaceuticals both reported after the close. ON Semiconductor CEO confirmed AI data remains the fastest-growing part of the business. Short sellers should take note — ON carries an RSI of 39, suggesting oversold territory that could attract buyers.
The memory trade continued to dominate options flow. SanDisk and Micron drew two-sided bets. SNDK is up 412% year-to-date. Put buyers are circling. Jim Cramer called a recent sell-off a "clearing event" — SNDK and bounced following those comments.
On the analyst front, Truist cut Intuit to Hold from Buy, slashing the target $60 to $350. That is a notable move on an $86bn company. UBS raised targets on Goldman Sachs to $1,150 and on Capital One to $280 — both maintained at their respective ratings.
Insider selling remained heavy. Cenovus Energy CEO filed a $9M share sale. SkyWest executives filed over $8.7M in combined sales within 48 hours.
Fresenius Medical Care posted Q2 results today. Adjusted EPS of $0.66 beat estimates by two cents. Sales of $5.65bn missed slightly. The miss on revenues could weigh on the stock tomorrow.
Tomorrow's session brings a broader test. Caterpillar and McDonald's both report at 12:30 ET. Their results will give clues on industrial demand and consumer health globally.
Short interest extremes remain a watch item. Hertz sits at 80.9% SI of free float. EverCommerce carries the highest short score among $1bn+ stocks at 95.7. Cost to borrow is a punishing 57.8% APR.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
