HAPPY THURSDAY TO THE STREET
Coca-Cola (KO) CEO James Quincey is stepping down, and Walmart's (WMT) Doug McMillon already has. Both cited the same reason: AI.
The execs said the next wave of transformation needs someone with the energy to finish what they started. I knew the robots were coming for white-collar jobs. But, got to admit, I didn’t expect those to be the first dominoes to fall…
🟥 | US stocks slumped today as Brent crude oil prices jumped to nearly $110 per barrel on continued turmoil in the Middle East.
📈 | One Notable Gainer: Navan (NAVN) soared after issuing 2027 revenue guidance well above Wall Street estimates.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
GAS PRICES IN THE US THIS MONTH?
Gas hit $3.98 a gallon this week, and the White House just reached for the ethanol lever.
The EPA's emergency waiver clears nationwide E15 sales starting May 1, a blend that historically saves drivers around 25 cents per gallon. The catch: it only runs 20 days, and your lawnmower can't use it.
How will that impact prices in the near term? Here’s how prediction markets are pricing it out.
Market Movers
APPLOVIN, BEST BUY, SANDISK
📉 | AppLovin (APP) fell on a report that weakening e-commerce trends are hurting client momentum in the first quarter.
📈 | Best Buy (BBY) gained on speculation that GameStop (GME) may have built an exposure to the company via swaps.
📉 | SanDisk (SNDK) tumbled after Google unveiled an AI model designed to reduce the memory required to run large language models.
📉 | MillerKnoll (MLKN) dropped after fiscal Q3 adjusted earnings fell annually and the firm flagged an $8-$9M Middle East headwind ahead.
Tomorrow's Trade Idea, Today
ADI-OS TO THE STATUS QUO
Stock Spotlight
Robots Need Analog Too
The Rating: Analyst Blayne Curtis at Jefferies named Analog Devices a Buy, citing its sensor and analog control expertise as a direct fit for the humanoid robot buildout.
The Thesis: Jefferies sees several short-term catalysts for humanoid robots to scale. Meanwhile, ADI's signal-chain and power technologies stand to gain content at every joint and sensor in the machine.
The Follow-On: Watch the firm’s partnership with Nvidia (NVDA) closely. ADI's integration into AI computing infrastructure is what separates it from a simple component play.
OVERHEARD ON THE STREET
🎮 Epic Games laid off more than 1,000 employees, roughly 20% of its workforce, citing slowing Fortnite growth.
Before July: 93%
Before 2027: 99%
🛢️ President Trump said Iran allowed 10 oil tankers to pass through the Strait of Hormuz this week as a diplomatic gesture.
💼 Weekly jobless claims ticked up to 210,000 as employers continue to hold onto workers in a softening labor market.
🏠 The average 30-year fixed mortgage rate rose to 6.38% for the fourth straight week, the highest level since September.
💰 Wall Street bonuses hit a record average of $246,900 for 2025, but the total fell short of New York City's projections.
WEDNESDAY’S POLL RESULTS
Are you bullish or bearish on Five Below (FIVE) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐻 Bearish — “Five below stores suck so bad. I can’t stand being in there. And I like Marshall’s/TJ Maxx/Ross.”
