HAPPY FRIDAY TO THE STREET
Markets are closed today because America turns 250 tomorrow, and a birthday this big deserves a long weekend.
Happy Independence Day to our US readers, from all of us at The Street Sheet. 🇺🇸
The Founding Fathers once made a very public exit from an overbearing central authority. That trade has aged remarkably well.
— Brooks & Cas
WILL CONGRESS BE BANNED FROM TRADING STOCKS?
SpaceX (SPCX) went public three weeks ago, and Congress has already started shopping.
Two House members just disclosed post-IPO buys, including one who sits on the committee overseeing the Pentagon, a major SpaceX customer.
A congressional trading ban has been floated for years. The Kalshi odds of it passing this year aren’t great, but still. Get in while the getting’s good?
Tomorrow's Trade Idea, Today
GENERATING ALPHA
Stock Spotlight
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Ignition On
Data centers have a power problem, and Wall Street thinks this German engine-maker is the fix.
Morgan Stanley initiated coverage this week on Innio, calling the recently IPO’d generator firm a rare combination of peer-leading growth and rising margins.
Data Center Darling
The bank isn’t alone. Bank of America (BAC), Goldman Sachs (GS), JPMorgan (JPM), and Baird all launched coverage with Buy-equivalent ratings this week.
Data centers made up 21% of Innio's equipment revenue over the past 12 months but 61% of recent orders, per BoA.
Baird analyst Ben Kallo projects the data center sub-segment will compound revenue at more than 100% annually, crediting the engines' modularity and short time-to-power as hyperscalers scramble to plug in AI infrastructure.
Target Practice
Baird set the Street's high mark at $50, betting those quick-install engines keep winning the race to power.
But Goldman's Joe Ritchie anchors the low end at $42, wary of capacity expansion risk and a $4.8B backlog Innio still has to deliver.
Shares have surged since last month's IPO. Not bad for a power company whose whole pitch amounts to “off the grid”.
Do you own any shares of Innio NV (INIO)?
OVERHEARD ON THE STREET
👶 | Trump Accounts open for deposits July 4, seeding $1K into stock market accounts for every US baby born during Trump's second term, locked until age 18.
🎆 | Boeing (BA), Lockheed Martin (LMT), and Oracle (ORCL) are among 14 companies sponsoring Freedom 250, where a $1M donation reportedly buys a private reception with the president.
🚗 | Ford (F) was named the top US mass-market brand in JD Power's initial quality study for the first time since 2010.
🥵 | An extreme heat wave sent New England wholesale power prices up 243% and threatens rail, air, and road travel through the July 4 weekend.
📊 | Newly released disclosures show Trump's brokerage accounts bought 327 stocks worth more than $3.6M on April 8, 2025, one day before he paused his Liberation Day tariffs and declared it "a great time to buy."
THURSDAY’S POLL RESULTS
Do you own any shares of Palantir Technologies (PLTR)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — “I got in at $24/share buying 2,000 shares. Sold 1,000 at $95, what was I thinking? PLTR is the OG in embedding engineers with your customer now everyone is trying to copy that model.”
🐻 Nope, not interested — “Doesn’t make nearly enough money to justify its valuation. Also, could face legislative and regulatory hurdles in the future if more left-leaning Dems take seats in midterms or even WH in 2028.”
