Semiconductor stocks ended the quarter under pressure. Options traders loaded up on downside bets across MU, AMD and INTC. South Korean tech fell more than 5% on AI-linked selling, rattling sentiment globally. The timing is awkward. Micron reports its Q4 2026 results today after the close. Memory demand and forward guidance will be the key reads. Taiwan's August export orders hit a record $103bn, nearly double the year-ago level, suggesting the underlying chip demand story remains intact even as traders hedge.
Short interest pressure is concentrated in a handful of names. LCID sits at 58.5% of free float. MMED has jumped to 74.5%, up 32 points in a week, with borrowable shares nearly gone. MSGS added 20.5 points in one week to reach 8.9% of float. Activist Dolan family filings and spin-off uncertainty are driving that move.
A judge today approved Paramount's settlement with state regulators over the WBD merger. The ruling clears the final major legal hurdle. The PSKY combination can now move toward closing. Separately, GRND announced it will acquire PurposeMed for $250m in cash and stock, with minimal expected impact on 2026 results.
Barclays slashed its FICO target by 45% to $935, keeping a Buy. Wells Fargo trimmed TDG and HWM targets, citing softer aerospace supply chain pricing. On the earnings calendar, NKE reports Thursday. The sportswear group faces continued pressure in North America and China. Canadian employment hit a record high in August, adding a macro backdrop that could lift consumer spending sentiment heading into Q4.
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