Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Q3 earnings season fires up today with a wall of financial results. JPMorgan Chase, Goldman Sachs, Wells Fargo, and Citigroup all report Tuesday morning. Bank of America and Morgan Stanley follow Wednesday. Options flow is already tilting toward the sector. JPMorgan's RSI has dropped to 35, near oversold territory, pointing to defensive hedging ahead of the prints. Markets will look hard at credit quality and net interest margins for any sign of consumer stress.
UnitedHealth Group reports alongside the banks on Tuesday. Its RSI sits at 41 with analysts pricing in 30% upside. That gap tends to attract call-side interest before results.
JP Morgan swept through US industrial targets on Friday. The biggest reduction landed on GE Vernova, where the target fell $180 to $1,150, with a Buy rating held. Steel names took coordinated hits: Steel Dynamics was cut to $260 and Nucor to $296. PepsiCo drew separate target cuts from both Citi and JP Morgan in a single session, with both analysts at Hold.
Uber's President and COO Andrew MacDonald filed two open-market purchases, disclosing $5.3 million spent on 70,000 shares on September 4. The trades carry no 10b5-1 plan designation. Uber is down 14% year-to-date and short interest sits at just 2.3% of free float. The discretionary nature of the buy stands out against a backdrop where analyst consensus implies 43.6% upside.
Finland registered 4,337 new battery-electric cars in September, the highest September total on record since 2014 and 68% above the same month last year. Japan domestic machine tool orders rose 62% year-on-year in August, with the backlog up 45%. Both datasets point to underlying industrial demand holding up even as US analyst targets retreat.
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.
