HAPPY THURSDAY TO THE STREET
OpenAI just bought TBPN, the Silicon Valley podcast famous for turning AI talent wars into pro sports drafts. The move is part of a new communications strategy, with the company promising editorial independence. As we’re increasingly seeing across sectors, the fastest way to control the narrative is to own the studio.
🟥 | US stocks finished down slightly today, recouping sharper earlier losses, after President Trump signaled overnight that the US-Iran war was not nearing an end, sending oil surging back up over $110.
📉 | One Notable Decliner: Tesla (TSLA) fell after first-quarter deliveries of 358,000 vehicles missed analyst expectations.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
NIKE, WINGSTOP, GENERAL MOTORS
📉 | Nike (NKE) projected a 20% sales decline in China for the current quarter.
📈 | Wingstop (WING) was upgraded to Overweight by Piper Sandler with a $190 price target.
📉 | General Motors (GM) reported that sales fell 9.7% year over year.
📈 | Penguin Solutions (PENG) beat Q2 earnings and revenue estimates.
📉 | Delta Air Lines (DAL) fell as surging oil prices weighed on the airline sector.
Tomorrow's Trade Idea, Today
EAT YOUR HEART OUT
Stock Spotlight
Upgrade, On The House
KeyBanc upgraded Brinker International to Overweight, and analyst Christopher Carril has one core argument: EAT’s marquee subsidiary, Chili's, is building something the market has not fully priced in.
He sees shares as undervalued relative to peers and the company's own recent history, making this a timely entry point.
A New Chicken on the Menu
The near-term catalyst is Chili's April launch of a new chicken sandwich lineup, backed by marketing and built on service improvements that the chain has made in recent years.
Carril also sees potential for margin expansion and modest unit growth as longer-term tailwinds for multiple expansion.
No Reservations on the Street
Carril has company.
Of the 24 analysts covering Brinker, 18 rate it a Buy or Strong Buy. Shares are flat since the start of 2026 and in the red over the past year. An investor day later this year and incoming FY27 guidance are both on the calendar as potential catalysts.
The Street has been waiting for a reason to sit back down. KeyBanc just pulled out the chair.
Do you own any shares of Brinker International (EAT)?
OVERHEARD ON THE STREET
⚖️ | Trump fired AG Pam Bondi amid continued fallout over the Epstein files, with Deputy AG Todd Blanche named acting attorney general.
🕊️ | Iran told intermediaries it will only end the war permanently if a guaranteed ceasefire is secured.
💸 | Investors requested to pull $5.4B from two Blue Owl Capital (OWL) private-credit funds in Q1, which prompted the firm to cap redemptions at 5%.
🏦 | Coinbase (COIN) received conditional OCC approval to operate as a trust bank, opening the door to federally supervised payment products.
🍫 | Hershey (HSY) announced all Reese's products will return to their classic milk chocolate recipe by 2027, after the inventor's grandson publicly criticized the company for using cheaper ingredients.
WEDNESDAY’S POLL RESULTS
Do you own any shares of Sensient Technologies (SXT)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
👀 No, but I’m interested — “The natural dye market looks to be pretty concentrated. Well worth looking into.”
