HAPPY MONDAY TO THE STREET.
Houston, stop hogging the launch pad—Netflix just booked the next liftoff. Starting this summer, you’ll be able to binge‐watch rocket launches, spacewalks, and Earth selfies without leaving the couch (or enduring YouTube’s ads). NASA’s handing its live feeds to the streamer’s 700-million-strong audience, while still keeping everything free on its own app—because public service, meet prime-time spotlight.
With SpaceX averaging more launches than most people take vacations, your “Are you still watching?” prompt may arrive somewhere near the Kármán line.
🟩 | US stocks notched fresh records Monday as Wall Street cheered Canada’s digital-tax U-turn and kept its fingers crossed that looming tariff talks end with more fireworks for equities than for trade partners.
📈 | One Notable Gainer: Meta $META ( ▲ 0.61% ) shares hit a record $747.90 as Zuckerberg ramps up AI hiring, fueling investor excitement over its new superintelligence group.
📉 | One Notable Decliner: Chemed Corp $CHE ( ▼ 12.95% ) fell after reporting weaker-than-expected Medicare admissions for its Vitas unit and softening residential demand at Roto-Rooter.
— Brooks & Cas
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STOCK HEATMAPS
S&P 500 Heatmap. Credit: Finviz
All Stock Heatmap. Credit: Finviz
Global ADR snapshot. Credit: Finviz
Market Movers
ROBINHOOD, CAVA, ORACLE
$HOOD ( ▲ 12.77% ) Robinhood gives out tokens of OpenAI and SpaceX in Europe. Stock hits record. (CNBC)
$CAVA ( ▲ 8.14% ) CAVA Group Among Top Consumer Cyclical Picks Despite Lowered Q2 Outlook (Insider Monkey)
$ORCL ( ▲ 3.99% ) Oracle stock jumps after $30 billion annual cloud deal revealed in filing (CNBC)
$FTV ( ▼ 3.36% ) Fortive Shares Gap Down - Here's What Happened (MarketBeat)
$MRNA ( ▲ 1.58% ) Moderna’s flu vaccine shows positive late-stage trial results, paving way for combination Covid shot (CNBC)
OVERHEARD ON THE STREET
CNBC: Trump rips AT&T service over technical issues, weeks after unveiling his Trump Mobile wireless plan tied to the carrier.
Reuters: Apple weighs using Anthropic or OpenAI to power Siri in a major shift away from its in-house AI, sending shares up 2% Monday.
FT: Google agrees to buy power from nuclear fusion plant by Commonwealth Fusion Systems, marking the second such agreement in the emerging sector.
CNBC: Home Depot’s SRS unit is acquiring building-products distributor GMS for $4.3B, aiming to boost sales from contractors and home pros.
Reuters: Boeing $BA has named Jesus 'Jay' Malave as CFO, replacing Brian West; Malave was previously CFO at Lockheed Martin $LMT.
Tomorrow's Trade Idea, Today
CAN ADVANCE AUTO PARTS RESTART ITS ENGINE?
Problems With the AAP Motor
Goldman Sachs $GS ( ▲ 2.45% ) has downgraded its outlook for Advance Auto Parts $AAP ( ▼ 0.02% ) from Neutral to Sell. Uncertainty over its performance forced a revision from analyst Kate McShane. It seems that there may be problems under the hood that need more than a mechanic’s touch.
McShane suggested the current economic climate may make it difficult for the company to perform and poured doubt on its ability to turn its fortunes around. Shares fell around 8% on the news.
AAP is down nearly 25% year-on-year, even factoring in a May rebound which brought it up from around $30 to close to today’s close of around $46.
Under the Hood
The automotive parts retailer reported better-than-expected earnings results in May. It surprised markets when leadership reaffirmed its 2025 guidance despite continuing tariff uncertainty.
AAP has undergone a major restructuring in recent years, including shuttering 700 stores. It now plans to open over 100 new stores in strategic locations, including market hubs with much bigger product inventories.
However, it will still close a further 12 distribution centers this year and more in the following year. This has raised questions about logistics and its ability to deliver the parts its customers need. Per the Wall Street Journal, the company argues its market-hub network will do exactly that.
Tune Up?
Investors wondering what to do with AAP stock need to think about how much confidence they have in the company to respond to current challenges and the long-term future of the American auto industry in general.
Goldman Sachs certainly isn’t convinced, seeing a spluttering engine and problems under the hood. Wider analyst sentiment has the stock at a Hold.
A slimmed-down and leaner operation might be able to deliver more horsepower off fewer cylinders, but it’s a bit of a gamble for a company that’s spent years treading water.
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ON OUR RADAR
QZ: Americans are contributing more than ever to their 401(k)s, driven by smarter plan design and investment strategies, according to new Vanguard data.
WSJ: The European Central Bank will now respond “forcefully or persistently” to major inflation swings, acknowledging past missteps in its latest strategy review.
Axios: Trump urges a major rate cut in open letter to Powell, as the White House weighs naming his successor before his term ends.
Reuters: Warren Buffett made a record $6B donation in Berkshire Hathaway stock, bringing lifetime giving to over $60B.
CNBC: Trump’s tax bill could hike taxes on solar and wind by up to $7B after 2027, risking nearly 2M construction jobs, trade groups warn.
FRIDAY’S POLL RESULTS
Are you bullish or bearish on Kinder Morgan $KMI ( ▲ 1.45% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “Yes, a midstream oil company like KMI who transports about 40% of the natural gas consumed in the country is bound to do well.”
🐻 Bearish — “Nuclear will dominate with increased need for energy.”
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