Semiconductors are the week's standout story. A US-China trade reset sent the sector sharply higher. SMH, the VanEck Semiconductor ETF, has now rallied 32% in a month. ORTEX data shows short utilisation on SMH hit a 52-week high of 94%. Bears are paying up to hedge. Commerce Secretary Howard Lutnick called for domestic chip manufacturing to return — adding fuel to the rally.
MACOM Technology Solutions sits at the top of options score rankings, up 110% year-to-date. NXP Semiconductors and Navitas Semiconductor also draw heavy call flow. Cisco reports Wednesday — a key read on whether AI-driven network demand is keeping pace.
Microsoft headlines this morning. A report in The Information says OpenAI will save $97 billion through 2030 under a revised Microsoft deal. That changes the competitive landscape for AI infrastructure spending significantly.
Activist investor Nelson Peltz is in talks to raise funds for a go-private bid for Wendy's. A buyout at current prices would value the fast-food chain at around $4 billion. Short sellers have been relatively light on the name — a successful bid could squeeze any remaining positions fast.
Bristol-Myers Squibb announced a collaboration with Hengrui Pharma worth up to $15.2 billion. The deal covers 13 early-stage oncology and immunology programmes. BMS pays $600 million upfront. It is one of the largest pharma partnerships of the year so far.
CoreWeave saw over $920M in insider sales last week. Short interest in Wolfspeed remains near 60% of free float. Both signal caution in names where valuations have stretched.
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.
