Edited by Peter Hillerberg2 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Q3 reporting season moves into high gear today. Bank of America and State Street both post numbers before the open. Charles Schwab and BNY Mellon follow tomorrow. Net interest margin will be the key line across all four. Regional banks Truist, Regions Financial and add to the calendar on Thursday.
German car registration data tracked by ORTEX runs 269% above the same quarter last year for Tesla, across three consecutive months. The same dataset shows General Motors up 133% on the same comparison. Both report next week. Tesla on 21 October, GM on 20 October. Options sentiment is tilting bearish into those prints, but the registration data is pointing the other way.
Wolfspeed short interest sits at 88.9% of free float. Zero shares are available to borrow, shutting out new shorts. Chewy is close behind at 87.3% of free float after a 17.5 point jump in a week. Medtronic is the surprise: its short interest leapt 8.3 points to 10.1% on a $117B market cap stock in seven days.
ORTEX Index Rebalance Radar shows Flutter Entertainment deletion odds from MSCI World jumped from 29% to 86% overnight. That implies $589M of forced selling. Mid-America Apartment Communities moved similarly, from 40% to 84%, with $761M of potential selling. The MSCI World ranking cut-off is 19 October, five days away. On the deal side, the Copart tender for ACV Auctions carries a 93% completion probability, with the index announcement expected today.
TD Cowen raised targets across four life sciences names simultaneously. Revvity got the biggest lift, from $130 to $175. Thermo Fisher moved to $760 from $675. Illumina reached $270, even on a Hold, despite activist Corvex having filed $215M of sales in the stock since May.
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.
