A massive week for results is underway. Cisco reports Wednesday after the bell — the biggest US name this week at $381 billion market cap. Applied Materials follows Thursday. Both names sit at the centre of the AI infrastructure trade. Constellation Energy faces Q1 scrutiny at $304. Under Armour heads into results with short sellers still firmly dug in.
The semiconductor space is where sentiment is most split. Options traders are loading up on puts in Micron and Intel — both stocks up triple digits year-to-date. Advanced Micro Devices has an RSI of 80.8 and heavy put flow. Meanwhile, short interest hit 60.4% of free float. Zero shares remain available to borrow. Analysts lifted Micron's consensus target to $563, yet the options market is hedging hard.
Analysts are bullish on old-economy names. Caterpillar received two target upgrades in quick succession. Howmet Aerospace saw its consensus target lifted to $298.17 — with no sell ratings on the stock. These industrial upgrades contrast sharply with the bearish options flow in high-flying tech.
Pentwater Capital filed over $1.1 billion in Avis Budget sales last month. Short covering in Avis followed — SI fell nearly 6 points. That alignment of insider selling and short cover tells a clear story: smart money is rotating out. On the buy side, Upstart chairman Dave Girouard put $5M of personal cash in on May 7. IREN shorts are holding tight even as the stock surged 71% in a month — a squeeze risk worth watching.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
