HAPPY THURSDAY TO THE STREET
JPMorgan (JPM) just slapped a $2K monthly limit on engineers using Anthropic's Claude, and moved them into a sandbox that keeps the AI away from internal systems. This from a bank with a nearly $20B tech budget, where one exec said some staff was spending more on tokens than their salary.
Even the robots get a corporate card limit now.
🟩| US stocks gained sharply today as tech rallied and oil prices slid.
📈 | One Notable Gainer: Vital Farms (VITL) climbed after Axios said it is exploring strategic alternatives, including going private.
📉 | One Notable Decliner: Fluence Energy (FLNC) tumbled after cutting full-year revenue guidance to $2.4B.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
ARM, VICOR, WORKDAY
📈 | Arm Holdings (ARM) gained after its CEO said he is increasingly confident it can meet demand for its new data center chip.
📈 | Vicor (VICR) surged after licensing its Vertical Power Delivery modules to an AI OEM.
📈 | Workday (WDAY) rose on reports that financing for a take-private bid is still coming together.
📈 | Tower Semiconductor (TSEM) climbed on a high-volume optical engine deal with New Photonics.
Tomorrow's Trade Idea, Today
BUD-DY UP
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Deutsche's Draft
Americans are drinking less. But for America’s most famous beers, that might not even matter.
According to Deutsche Bank, Budweiser-, Busch-, and Michelob-parent Anheuser-Busch InBev mostly sells beer somewhere else.
Deutsche Bank upgraded the Budweiser parent to Buy on that split, with analyst Mitch Collett calling it one of the most emerging-markets-focused names in European staples.
Two-Thirds Abroad
The numbers behind the call: 64% of sales and 61% of earnings before interest and taxes come from developing markets.
Collett argues that mix shields the brewer from the structural decline in developed-market drinking. A 2025 Gallup poll found 54% of US respondents drink alcohol, the lowest reading in 90 years.
Dominant share across its key markets, he says, keeps growth and profitability steady while that number slides.
Consensus On Tap
At home, Collett points to Anheuser-Busch’s cocktail and sparkling beverage line, Beyond Beer, as a second growth lane. It could offset softness in the core lineup.
Wall Street on the whole wants another round. Of the 12 analysts covering the stock, 11 rate it Buy or Strong Buy and one sits on Hold, and US-listed shares are up year to date.
Fewer Americans are pouring one. But the rest of the world may pick up the tab.
Do you own any shares of Anheuser-Busch InBev (BUD)?
OVERHEARD ON THE STREET
🛻 General Motors (GM) unveiled two new V-8 engines for its 2027 Silverado and Sierra pickups.
🤖 OpenAI disclosed six cases of concerning model behavior and launched a framework to track misalignment.
💼 Initial jobless claims fell to 196,000 last week, the layoff gauge’s lowest level since mid-July.
☁️ Salesforce (CRM) guided to more than $63B in fiscal 2030 revenue, sharply above the consensus.
WEDNESDAY'S POLL RESULTS
Do you own any shares of Union Pacific Corporation (UNP)?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐂 Yup, I'm holding — “As a retired employee of Union Pacific, I have owned UNP stock since 2008. It has increased in value from $38 to its present triple-digit price over the years. Freight service is what keeps this country growing and going. Nothing in the foreseeable future will ever replace freight service.”
