Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Q3 reporting season kicks off in force this week. Financial heavyweights Wells Fargo, Goldman Sachs, Citigroup, and UnitedHealth Group all report Monday. Bank of America and State Street follow Tuesday. Options flow across the sector is elevated. Goldman Sachs carries an RSI of 29.1, near oversold territory. sits at 40.9 RSI ahead of its print. Bulls still see 29.9% upside in UNH. The insurance side looks brighter: shows 100% positive options flow over the past week and is up 27.7% year-to-date.
JP Morgan swept through price targets in a single session. GE Vernova bore the sharpest cut, down $180 to $1,150, though JP Morgan kept its Buy rating. Steelmakers Steel Dynamics and Nucor also saw targets trimmed. That sits uneasily alongside Japan's August machine tool orders, which rose 62% year-on-year to JPY 51,517 million, with the order backlog up 45%. PepsiCo drew target cuts from both Citigroup and JP Morgan, with both analysts keeping Hold ratings.
Short interest in MMED hit 102.9% of free float this week, up 24 points in seven days. Borrow costs 42.7% annually and availability is near zero. Wolfspeed remains under pressure at 84.2% of free float. Bears appear reluctant to cover heading into earnings season. Medtronic was the large-cap surprise: SI jumped 3 points to 4.6% of float in a week.
Bill Gates filed purchases in Republic Services worth over $269 million across seven trading days, at prices around $219 to $232. On the other side, NVIDIA director Mark Stevens filed sales totalling more than $396 million, offloading 1.785 million shares under what appears to be a pre-arranged plan.
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.
