HAPPY TUESDAY TO THE STREET
College football’s top player has a LinkedIn $MSFT ( ▲ 0.2% ) page as impressive as his highlight reel.
Indiana QB Fernando Mendoza stepped into the national spotlight this weekend after upsetting Ohio State for the Big Ten title. But his professional track record is equally impressive.
Haas degree. Real-estate investment internships. A strict budgeting habit. And no social apps besides LinkedIn and YouTube $GOOGL ( ▲ 1.07% ). Is the Heisman finalist prepping for the NFL? Or Wall Street?
🟨 | US stocks rose as traders awaited the Fed’s rate call, with odds favoring another cut and risk appetite steadier into month-end.
📈 | One Notable Gainer: Staar Surgical $STAA ( ▲ 7.84% ) jumped after Alcon $ALC ( ▼ 0.25% ) raised its takeover offer.
📉 | One Notable Decliner: Gogo $GOGO ( ▼ 19.11% ) fell after announcing an undisclosed investment in satellite communications firm Farcast.
— Brooks & Cas
Sponsored by MicroSectors
MARKET SNAPSHOT
All Stock Heatmap. Credit: Finviz
Market Movers
EXXON MOBIL, CVS, SLM
Exxon Mobil $XOM ( ▲ 1.96% ) updated its long-term plan and projected stronger earnings and cash flow through 2030.
CVS $CVS ( ▲ 2.23% ) issued 2026 profit guidance above Wall Street expectations.
SLM $SLM ( ▼ 14.96% ) fell on a Morgan Stanley downgrade.
Teleflex $TFX ( ▲ 9.54% ) announced the sale of three business units.
Ares Management $ARES ( ▲ 7.27% ) will be added to the S&P 500.
To monitor hot stocks in real time, check out The Street Feed.
Tomorrow's Trade Idea, Today
THE OBESITY DRUG BET WELLS FARGO LIKES
New Name In The Weight-Loss Race
Wave Life Sciences $WVE ( ▲ 15.07% ) just jumped into the obesity business. And, boy, is business booming.
The Singapore-based biotech more than doubled in a single session after early data from its RNA obesity shot. Wells Fargo $WFC ( ▼ 1.3% ) says the spike was warranted.
What’s more, the bank still sees room for gains.
A Different Way To Lose The Weight
The bank kept an Overweight rating and raised its target from $16 to $29, implying upside of 36% from today’s close. Wave is now up 60% this year, with most of that move coming after Monday’s Phase 1 readout showed fat loss without muscle loss.
Wells analyst Matthew Burnett argues that the results help de-risk a new mechanism of action in a large market. The candidate, WVE 007, uses RNA-based technology, a departure from the peptide design behind today’s obesity injections.
Burnett also points to the early safety profile. Management reported no gastrointestinal problems in the first study, with no obvious dose response in drug-related side effects.
What Could Go Right From Here
The “wave” is still cresting. Could it break before it reaches the shore?
Indeed, risks abound. Phase 1 trials are small. Obesity is a crowded space. And larger drugmakers will react if RNA shots work.
Even so, Burnett belives the risk-reward has shifted. A cleaner tolerability profile, the chance to preserve muscle, and a large addressable market give this program real option value.
If later studies confirm the signal, this once little-known biotech could move closer to the center of the weight loss trade.
Sponsored by MicroSectors
OVERHEARD ON THE STREET
CNBC: US authorities shut down a China-linked network that allegedly trafficked over $160M in restricted Nvidia $NVDA ( ▼ 0.31% ) AI chips.
Reuters: Pfizer $PFE ( ▼ 1.71% ) licensed an experimental weight-loss treatment from China’s YaoPharma, with $150M upfront and up to $1.94B in milestones.
Forbes: Target $TGT ( ▲ 0.6% ) opened a redesigned SoHo flagship showcasing a design-led concept store.
USA Today: Mondelez $MDLZ ( ▼ 1.19% ) announced Oreo Zero Sugar Cookies, after four years of developing a sugar-free version of the classic treat.
AP: Microsoft $MSFT ( ▲ 0.2% ) committed $17.5B to expand India’s cloud and AI infrastructure.
MONDAY’S POLL RESULTS
Are you bullish or bearish on Casey's $CASY ( ▼ 0.58% ) over the next 12 months?
▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “Another company will buy them.”
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