HAPPY TUESDAY TO THE STREET
JPMorgan (JPM) is blocking outside AI agents from moving money in customer accounts. CEO Jamie Dimon warned of thousands of potential rogue bots. The robots may be coming for your job, but paying the bills is still on you.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
J&J, META, MICRON
📉 | Johnson & Johnson (JNJ) slid as soft MedTech sales overshadowed a Q3 earnings beat.
📈 | Meta Platforms (META) rose again as Wall Street continues to cheer its new Muse Wonder AI model.
📉 | Micron (MU) fell as a rival chip from CXMT stoked memory valuation worries.
📈 | Fermi (FRMI) signed a credit support deal with Advanced Micro Devices (AMD) for its Texas AI buildout.
📉 | Syndax Pharmaceuticals (SNDX) tumbled after a Phase 2 lung disease trial missed its primary endpoint.
Tomorrow's Trade Idea, Today
OFF THE WALL STREET
Stock Spotlight
Looking for more upside? Street Sheet Research members get 3 stock picks from the Top 30% of analysts with 30%+ implied upside each week. Subscribe today.
The Kids Are Alright
“Damn Daniel” may have been a millennial meme. But a whole new generation is back at it again with the white Vans.
Piper Sandler upgraded Vans-parent VF Corp to Overweight, betting the brand's long-awaited turnaround is finally taking shape.
Sole Searching
Analyst Anna Andreeva argues Vans' mindshare has likely bottomed, with growth ahead as fresh product scales across wholesale partners.
The evidence comes straight from the source. Piper Sandler's fall teen survey polled roughly 9K teenagers, and Vans held steady as the seventh favorite footwear brand among teen males. That's the first time in two years it hasn't slipped.
It also climbed a spot among upper-income young men. Meanwhile, Vans store foot traffic is at its best level since February 2023, and direct-to-consumer data is improving, per the firm.
Against the Grain
Piper Sandler is skating ahead of the crowd. Of the 25 analysts covering VF Corp, 13 rate it a Hold, 10 a Buy or Strong Buy, and 2 say Underperform.
Shares are in the red year to date. But if teens keep lacing up, the skeptics may be the ones left flat-footed.
Do you own any shares of VF Corp (VFC)?
OVERHEARD ON THE STREET
🏦 | Big banks posted strong Q3 profits but warned higher rates and inflation could squeeze consumers.
🛢️ | Six GOP senators joined six Democrats urging Trump to cancel his Russian diesel deal.
📊 | Wall Street consensus expects tomorrow’s CPI report to show inflation accelerating to 3.6% annually.
🏠 | The US median home price hit a September record of $417.5K, per NAR.
🛒 | Kroger (KR) will lay off 3K corporate employees over three years as it leans into AI.
MONDAY'S POLL RESULTS
Do you own any shares of American Express (AXP)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — “I view it less as a dividend stock and more as a high quality compounder. My thesis is: Premium customers → higher spending → higher fees → earnings growth → buybacks → higher EPS → higher intrinsic value. As long as those links remain intact, that is my compelling case for holding rather than trading around short term market moves.”
🐻 Nope, not interested — “Don't need the stock, just want the card again.”
