September Opens With Earnings, Drug Pricing Debate, and a PG&E Shock

Earnings Season Kicks Off

September's reporting calendar is live. Dell Technologies and Medtronic both report today. Dell's AI infrastructure story remains the key watch — analysts want numbers on data-centre demand. Snowflake earnings are also imminent, with analysts revising forecasts ahead of tonight's call. MongoDB posted Q2 results and drew a reiterated $560 price target from Guggenheim.

PG&E Pulls Long-Term Guidance

PG&E dropped a bombshell today. The California utility said it will no longer provide five-year capex or rate-based guidance beyond 2027. The move cuts roughly $1 billion in planned debt needs for both the utility and parent company. Investors will be watching closely — scrapping long-term guidance rarely signals confidence.

Drug Pricing Debate Shakes Healthcare

Bill Ackman publicly backed Mark Cuban's drug pricing model today. That rattled managed care stocks. UnitedHealth, Humana, Cigna, and CVS Health all landed in the crossfire. The model challenges how insurers and pharmacy benefit managers make money — any policy shift here hits earnings directly.

Short Squeeze Watch: SLS at 100% Utilization

ORTEX data flags SELLAS Life Sciences as a name to watch. Utilization hit 100% today. Availability collapsed to just 0.17% — a 52-week low. Short interest stands at 40.6% of float with virtually no shares left to borrow. That setup can turn violent if buyers arrive.

Analyst Moves

Sirius XM got a lift from Deutsche Bank, upgraded to Buy with a $45 price target. Credo Technology saw forecasts revised after Q1 results. On the caution side, Jim Cramer warned that Google's new AI tools could squeeze Adobe — a stock already facing 23 analyst holds.