Monday Momentum: Index Shake-up, Short Squeeze Watch, Tech On Deck

US Market Highlights

Bloom Energy is the standout mover today. The clean energy company is soaring after Molson Coors was ejected from the S&P 500 to make room for it. Index inclusion events like this drive forced buying from passive funds. Bloom joins a growing list of energy-adjacent names catching a bid from infrastructure spending trends.

GlobalFoundries secured up to $375 million in CHIPS Act funding to boost US quantum semiconductor manufacturing. The award adds to a string of domestic chip investments and keeps the reshoring narrative alive.

SoundHound AI is deep in squeeze territory. Short utilization hit 98.19% — near its 52-week high of 100%. Zero shares remain available to borrow. Bears have held these levels for five consecutive weeks. Any catalyst could force a sharp unwind.

Earnings in Focus

Thursday brings the week's biggest prints. Oracle and Adobe both report after the bell on September 10. Oracle carries a $457 billion market cap with short interest at just 2.9% of free float. Adobe's SI sits at 4.6%. Neither stock is heavily shorted, but both will be closely watched for AI-driven revenue trends.

Oddity Tech reports Tuesday. Its put-call ratio crashed to 0.43 — more than four standard deviations below the 20-day average. That is extreme bullish options positioning and the lowest reading in 52 weeks.

Europe & Analyst Watch

Eaton Corporation earned a consensus upgrade today, with the average target lifted to $478. The industrial power company is benefiting from sustained infrastructure spending.

Evolution AB remains in focus after major shareholder Kenneth Dart disclosed purchases of over 10 million shares worth $715 million. The filings — only recently reported — mark a significant vote of confidence in the Swedish gaming stock despite a challenging year for the shares.

Best Buy drew a downgrade from DA Davidson to Neutral with a $95 target. Short interest there has already fallen 19% in a month to 6.8% of float — suggesting some bears have already exited ahead of the call.