Anthropic signed a ~$35 billion cloud deal with Lambda, Reuters reported overnight. The deal ripples across mega-cap tech. NVDA, AMZN, MSFT, and GOOGL all sit in the blast radius. Despite the bullish headline, negative options flow dominated NVDA's week. Bears have been active. The stock's 14-day RSI sits at a neutral 52.
September's first trading day brings a packed calendar. Medtronic reports this morning at 6:45am ET. Short interest sits at just 1.1% of free float — bears are not positioned for a miss. Dell Technologies follows after the bell. The $148B AI server play faces analyst scrutiny on data-centre demand. Later this week, NetApp, Ciena, and Campbell's also report.
Short sellers made aggressive moves heading into September. Klaviyo saw its SI % FF jump 6.9 percentage points in one week to 19.86%. The stock is down 38% year-to-date. Options put flow has been heavy. EverCommerce carries the highest ORTEX short score in the market at 94.5. Its cost to borrow hit 38.2% APR. Availability is near zero at just 1.5% of short interest.
France replaced Italy as bond investors' biggest worry, according to FT Markets. Paris borrowing costs have topped Rome's for most of the summer. Chip stocks led European declines, tracking Wall Street weakness. Zero-interest convertible bond issuance is on track for a record year as companies look to limit borrowing costs amid elevated AI stock volatility.
Scotiabank raised its target on PANW to $430 from $320 — a 34% lift. Goldman Sachs raised Workday to $164. Both moves reflect continued analyst confidence in enterprise software and security, even as short sellers push the other direction on smaller software names.
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.
