HAPPY TUESDAY TO THE STREET
Apple (AAPL) appears poised to finally launch its foldable iPhone tomorrow, in new CEO John Ternus’ first major announcement of his tenure.
This cutting-edge reveal comes… seven years after Samsung got there first? Not exactly an “iPhone moment”. Then again, Samsung, Huawei, and Xiaomi have all rushed out passport-shaped foldables in recent months, copying a phone Apple hasn’t even announced yet. Being late has never looked so influential.
🟥 | US stocks slid today to start an abbreviated trading week as the ongoing US-Iran conflict continued to drive up oil prices.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
COREWEAVE, NOVARTIS, AMGEN
📈 | CoreWeave (CRWV) climbed as AI infrastructure names rallied on OpenAI's GPT-6 Astra release.
📉 | Novartis (NVS) tumbled after its del-desiran drug failed a Phase 3 myotonic dystrophy trial.
📈 | D-Wave Quantum (QBTS) rose after the US agreed to take a minority equity stake in a $300M CHIPS Act deal.
📉 | Amgen (AMGN) slid as Novartis’ cholesterol drug missed, denting expectations for its own late-stage candidate.
📈 | Roivant Sciences (ROIV) rallied on positive Phase 2 results for its pulmonary hypertension treatment.
Tomorrow's Trade Idea, Today
LOCKHEED, STOCK & BARREL
Stock Spotlight
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Off The Sidelines
Wall Street has been treating Lockheed Martin like a bond with a jet engine strapped to it. UBS thinks its a growth asset that’s ready for lift-off.
Analyst Gavin Parsons upgraded the stock to Buy, arguing 2028 consensus earnings estimates could prove low by double digits.
Compounding Firepower
Parsons models a 9% revenue CAGR through 2028, driven by missiles and munitions plus F-35 sustainment, the CH-53K helicopter, and Trident.
Investors already expect the munitions growth, he says. What they have not paid for is faster, more sustainable production, even with the stock at a 15% discount to the S&P 500.
On cash, Parsons now models 38% free cash flow growth from 2025 to 2030, enough to fund the $1B pension over-earn despite heavier capex and buyback limits.
Split Decision
The Street is not sold. Of the 24 analysts covering Lockheed, 13 rate it a Hold and 10 call it a Buy or Strong Buy.
Shares are green on the year, but well off their March high. UBS thinks the market has been aiming at the wrong target.
Do you own any shares of Lockheed Martin (LMT)?
OVERHEARD ON THE STREET
🛢️ The US Treasury sanctioned 27 Iranian airlines as Brent crude crested above $99 per barrel.
✈️ President Trump said Montreal’s Bombardier (BDRBF) must build in America to keep selling there, as Canadian retaliatory tariffs take effect.
🛬 NTSB investigators are examining aircraft speed and a missing runway safeguard in Sunday’s fatal Amazon cargo crash.
🤖 Meta (META) launched Muse, a personal AI agent that can book travel and negotiate on your behalf.
🧮 OpenAI says an internal model solved the Navier-Stokes problem, one of seven Millennium Prize problems, after just 88 hours.
MONDAY'S POLL RESULTS
Do you own any shares of Robinhood Markets (HOOD)?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐂 Yup, I'm holding — “And, recently added...”
🐻 Nope, not interested — “They cut regulations constantly and will be caught and fined substantially in the near future.”
