Earnings, Bears, and a China Divide Define the Day

Key Earnings to Watch

Three S&P 500 heavyweights report after the close today. ORCL and ADBE both release results at 4pm ET. Bears are light on both — Oracle's short interest is just 2.9% of free float. Adobe sits at 4.7%. RH is the high-stakes print of the day. The luxury furniture retailer enters results down 29% year-to-date. Short interest stands at 34.6% of free float. A strong beat could trigger a sharp squeeze. Tomorrow, KR reports Q2 results at 8am ET. Margin commentary on easing food-at-home inflation will be the key watch.

Short Interest Moves

GME saw its most dramatic short-cover of the week. SI % of free float collapsed from 15.1% to just 3.8% — an 11-point drop in seven days. At the same time, WIX shorts surged from 11.6% to 20.6%. Availability on Wix is down to just 33.9%, meaning borrow is getting scarce fast. LULU also drew fresh short interest after Citigroup cut its target to $117. SI rose 1.9 points to 12.7% of free float.

China: Founder Buys, Banks Sell

The biggest divergence today is in China-linked stocks. Li Ning's founder vehicle bought $77M in Li Ning Company shares between September 1–3. Meanwhile, BlackRock filed a $137M sale in Kingdee International on September 7. JPMorgan followed with an $85M exit in the same stock. Both banks also sold positions in Sunny Optical and Midea Group — a clear pattern of institutional withdrawal from China tech.

Delivery Gets a Boost

Scotiabank launched coverage of UBER and DASH at Buy on the same day, with targets of $100 and $275 respectively. DoorDash carries an $82bn market cap and just 4.3% short interest. The bank sees strong runway in gig-economy delivery.