MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
ELI LILLY, GAMESTOP, AON
📉 | Eli Lilly (LLY) will pay $2.9B in cash for autoimmune biotech Merida Biosciences.
📈 | GameStop (GME) expects operating and net income to jump in preliminary Q2 results.
📈 | Science Applications International (SAIC) raised its full-year earnings and revenue guidance.
Tomorrow's Trade Idea, Today
CAPITALIZING ON THE CASH CROP
Stock Spotlight
Stock: Deere & Company (DE)
Firm: Baird
Current Price: $655
Price Target: $800
Implied Upside: 22%
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Making Hay
Baird analyst Mircea Dobre upgraded Deere (DE) to Outperform, arguing the North American agricultural cycle is finally turning in farmers' favor.
Corn futures just hit their highest level in more than three years. When farmers make money, the analyst argues, tractor makers tend to follow.
Corn Fed Confidence
Mid-2027 corn futures now sit above farmer breakevens, and soybeans are improving as well. Dobre says rising 2027 per-acre farmer margins closely track future equipment demand.
Deere offers the cleanest way to play it, per the analyst, thanks to its heavy North American row crop exposure. When investors sense an ag inflection, this is the first stock they reach for.
Bucking the Consensus
The Street is split. Of the 26 analysts covering Deere, 14 rate it a Buy or Strong Buy while 12 sit at Hold.
Shares have surged in 2026 and are on pace for a seventh annual gain in eight years. But Baird thinks the tractor is just shifting out of first gear.
Do you own any shares of Deere & Company (DE)?
OVERHEARD ON THE STREET
⚖️ | The FTC sued Amazon (AMZN), alleging it overcharged advertisers more than $20B through hidden surcharges.
✈️ | American Airlines (AAL) will match the federal $1,000 Trump Account contribution for employees' children.
🛢️ | Trump's Venezuela oil deal secured majority control of 65B barrels, but may not lower gas prices for years.
🏦 | Treasury Secretary Scott Bessent says the US will sanction a foreign bank this week over Iran ties.
🍎 | Apple (AAPL)'s Phil Schiller stepped down from leading the App Store and product events, sending the stock lower today.
FRIDAY’S POLL RESULTS
Do you own any shares of Marriott International (MAR)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — “I 'checked in'; awhile back, and I'm planning to extend my 'stay', unless 'rates' become decidedly 'unfavorable'.”
🐻 Nope, not interested — “Marriott is a mediocre company with questionable business practices toward their customers. This will drive customers to other hotel chains. I see a steep decline in their future.”
👀 No, but I’m interested — “Good company over the years but P/E is too high to make it attractive now.”
