HAPPY TUESDAY TO THE STREET.

Forget mile-high views. The private jet of the future might not have windows at all.

Otto Aerospace’s Phantom 3500 replaces them with wall-to-wall digital screens, promising lighter weight, 60% less fuel burn, and maybe even cheaper private flights than airline business class. Flexjet just ordered 300.

The maiden voyage is slated for 2027. Delta $DAL ( β–Ό 1.13% ) headwind incoming?

  • 🟩 | US stocks rose as investors looked past shutdown jitters, with all three indexes edging higher into the month-end.

  • πŸ“ˆ | One Notable Gainer: Pfizer $PFE ( β–² 6.79% ) rose after reports it will cut Medicaid drug prices and get a three-year tariff reprieve.

  • πŸ“‰ | One Notable Decliner: Spotify $SPOT ( β–² 0.38% ) fell after controversial CEO Daniel Ek said he will step down, leading to a Goldman Sachs $GS ( β–Ό 1.36% ) downgrade.

Finally, read to the end for the Forbes 30 for 30 milestone no one wants to reach...

β€” 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

MERCK, INSTACART, FREEPORT

$MRK ( β–² 7.39% ) Merck Stock Rises on AI Drug Discovery Agreement (GuruFocus)

$CART ( β–² 1.88% ) Maplebear Inc (Instacart) stock hits 52-week low (Investing.com)

$FCX ( β–Ό 0.33% ) Buy Freeport Stock After Mining Accident, BofA Says (Barron’s)

$FLY ( β–Ό 9.04% ) Firefly Aerospace stock tanks 24% after test rocket explosion (CNBC)

$PATH ( β–Ό 2.92% ) UiPath Delivers Trusted Agentic Automation for Sensitive Workflows with NVIDIA (BW)

OVERHEARD ON THE STREET

TechCrunch: Amazon $AMZN ( β–² 0.48% ) unveiled four new Echo devices powered by its upgraded AI, Alexa+, with broader conversational and service integrations.

Stocktwits: Ford $F ( β–² 2.59% ) CEO Jim Farley warned US EV sales could fall to 5% after tax credit elimination and Trump policies.

CNBC: Nvidia $NVDA ( β–² 0.35% ) shares hit a record, rising nearly 3% to a $4.5T market cap, driven by massive AI data-center deals.

MoneyWatch: DoorDash $DASH ( β–Ό 1.6% ) launched Dots, red autonomous delivery bots in Phoenix, designed to carry small orders at up to 20 mph.

FOX Business: Exxon $XOM ( β–Ό 0.67% ) will cut 2,000 jobs, or up to 4% of its workforce, as part of a global restructuring.

Tomorrow's Trade Idea, Today

ETSY GETS AGENTIC AI BOOST

A Landmark Partnership

Etsy $ETSY ( β–² 6.18% ) surged Monday after announcing a new partnership with OpenAI, but crashed back down to earth today. BTIG believes that means there’s still time to buy.

The deal makes Etsy the first e-commerce partner for ChatGPT’s Instant Checkout feature, which will allow users to buy single items from US Etsy sellers directly within the chatbot.

The move puts Etsy at what BTIG analyst Marvin Fong called the β€œleading edge of agentic commerce.” He raised his price target by $9 to $81, suggesting about 22% upside from recent levels.

Market Reaction

Fong noted that the stock’s response reflects more than just near-term sales, pointing instead to the potential of ChatGPT’s scale and new shopping behavior unlocked by AI.

He believes the partnership could help Etsy return to gross merchandise value growth next year, reversing expectations for a small decline. Investors, he added, may rerate the stock higher as the benefits take shape.

BTIG estimates that ChatGPT queries could generate 75 million to 100 million US online orders. That estimate stems from research suggesting that about 2.1% of ChatGPT searches already involve purchasable products.

Potential Scale

Importantly, Etsy’s deal with OpenAI pays ChatGPT a fee similar to what it pays other marketing partners, such as affiliates or influencers. That means the company does not expect a hit to overall margins.

With Etsy still free to work with other AI platforms, Fong argued the company maintains a dominant position in its handmade and specialty niche β€” one that competitors have struggled to replicate.

Are you bullish or bearish on Etsy (ETSY) over the next 12 months?

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ON OUR RADAR

Axios: Wendy’s $WEN ( β–² 3.28% ) is launching Tendys chicken tenders nationwide, rebranding some stores with the same name.

TheWrap: Versant signed an 11-year deal giving USA Network rights to air at least 50 WNBA games annually.

AP: US consumer confidence fell to 94.2 in September, its lowest since April, as inflation worries deepened.

Bloomberg: Gold slipped 0.9% to about $3,800 an ounce Tuesday after a record-setting month driven by shutdown fears.

TechCrunch: Cerebras Systems raised $1.1 billion at an $8.1 billion valuation, delaying its earlier plan for a 2025 IPO.

STREET TWEET

The Frank fiasco closes its chapter.

A $175M JPMorgan $JPM ( β–Ό 1.5% ) acquisition turned out to be smoke and mirrors. Javice’s sentence is now official: 7 years behind bars. It’s a brutal reminder of how costly hype can be.

MONDAY POLL RESULTS

Are you bullish or bearish on Rollins $ROL ( β–Ό 1.04% ) over the next 12 months?

β–‡β–‡β–‡β–‡β–‡β–‡ πŸ‚ Bullish

β–‡β–‡β–‡β–‡β–‡β–‡Β πŸ» Bearish

And, in response, you said:

  • πŸ‚ Bullish β€”Β β€œInsects have survived several ice ages, a meteor strike, a dust bowl, and every other extreme weather event imaginable. I don't see any threat to this business.”

  • πŸ‚ Bullish β€”Β β€œCockroaches have ruled for eons (a long-term bet?).”

Reply

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