Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
The week beginning October 13 is the heaviest single earnings stretch of the quarter. UnitedHealth reports Monday morning. Johnson & Johnson follows Tuesday before the open. Wednesday belongs to the banks: Bank of America, State Street, and Nordic lender Nordea all drop Q3 figures the same day. Charles Schwab and round things out Thursday.
Options flows into this slate are not encouraging. Truist Financial carries a 0% positive options reading for the week. Bank of America has an RSI of 24.5. Both banks enter earnings at their weakest technical levels in months.
TD Cowen trimmed targets across the defence sector over the weekend. L3Harris Technologies absorbed the biggest reduction, with its target cut 24% to $280 while the Buy rating held. RTX, Northrop Grumman, and Lockheed Martin all saw targets trimmed too. Biotech moved in the opposite direction. UBS raised its target on Biogen to $270 and on Amgen to $470. Both retain Buy ratings.
Wolfspeed remains near the top of the most-shorted list at 84.2% of free float. MiniMed Group saw short interest jump 24 points to 102.9% of free float in a week. Borrowing availability has fallen to just 1.1%.
On the real-economy side, Japan domestic machine tool orders rose 62% year-on-year in August to JPY 51,517 million, with the backlog also up 45%. Korea air traffic hit a September record of 238,383 flights. Both readings point to resilient industrial and travel demand heading into Q4.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
