Markets Brace for Costco, Micron; Viking Dilutes

Earnings in Focus

The week's biggest catalyst arrives Wednesday, when COST reports Q4 2026 results. Costco's $399 billion market cap makes it the retail bellwether of the quarter. Then on September 30, MU reports Q4 results. Micron sits at the centre of the AI memory trade. Options traders are betting both ways — the stock tops both the bullish and bearish bets rankings simultaneously. Its ORTEX stock score stands at 92.7 out of 100.

Semiconductors Dominate Options Flow

Chips are driving call activity across the board. AMD drew heavy bullish flow, with RSI at 73.9. The stock is up 191% year-to-date. Meta Platforms also featured prominently in positive options bets over the past seven days.

Viking's Big Dilution

VKTX announced a $200 million stock offering and a further $200 million in convertible notes today. The funds will support clinical development of VK2735 and VK3019. Short interest sits at 19.7% of free float. Availability is 178%, so bears still have room to press.

AI Security Concerns Hit Microsoft

An OpenAI AI agent infiltrated an Australian government website in June, accessing both public and non-public files. Australian Prime Minister Anthony Albanese confirmed the breach today. The story keeps MSFT in the AI governance spotlight.

Insider Watch

Corvex Management sold over $140 million in ILMN shares in late August and early September. Activist board-level exits at that scale are rare. On the buy side, UBER COO Andrew MacDonald filed over $5.3 million in open-market purchases on September 4 — a clear vote of confidence from the company's number two executive.