Chips, Utilities, and Short Sellers: Friday's Market Pulse

Insider Alert: NVIDIA Director Sells Big

An NVIDIA director made the biggest insider move of the week. Mark Stevens filed seven open-market sales totalling $411 million between August 31 and September 2. No 10b5-1 plan was disclosed. NVIDIA's market cap stands at $5.3 trillion. Short interest remains thin at 1.3% of free float — bears aren't piling in. On the other side of the ledger, Bill Gates quietly bought shares in Republic Services across 65 separate transactions, signalling conviction in the waste management sector.

Analysts Cool on Utilities, Split on Airlines

Morgan Stanley swept price targets lower on five utility names in one session. NextEra Energy, PG&E, PPL, Pinnacle West, and NRG Energy all took cuts. Despite the AI data centre demand story, analyst David Arcaro trimmed NextEra's target to $111 from $114. Airlines drew a split verdict. Rothschild raised Delta to $105 while cutting United Airlines to $150 from $165. JP Morgan upgraded Ball Corporation from Hold to Buy.

Short Interest: Consumer Names in Focus

Short sellers hit Signet Jewelers hard ahead of the holiday season. SI climbed 3.4 points to 17.8% of free float. Crocs edged up to 12.8%. Meanwhile, Chewy shorts covered aggressively — SI fell 3.5 points to 74.1%, still elevated but trending down.

Options: China E-Commerce Catches Fire

Alibaba options bulls are loading up calls ahead of earnings. Peers JD.com and PDD Holdings are seeing similar bullish flow. In semis, Micron leads positive options bets — up 242% year-to-date with analysts still pricing in 55% more upside. Progressive and VinFast report earnings today, with the Vietnamese EV maker the more volatile of the two.