HAPPY TUESDAY TO THE STREET
Wall Street's SpaceX (SPCX) quiet period just expired, and the research notes read like epic poetry.
Deutsche Bank (DB) rates it a Buy and calls the company the apex of civilizational ambition. Raymond James (RJF) went Strong Buy with an $800 target, betting Starship makes rocket launches run like commercial aviation. JPMorgan (JPM) is Overweight and sees Starlink broadband subscribers ballooning from 9M to 95M+ by 2030. MoffettNathanson stands alone at Neutral, calling the company's $30T market math absurd.
Meanwhile, the stock celebrated its first day in the Nasdaq-100 by dropping more than 5%. Gravity remains undefeated.
🟥 | US stocks slid today as Iran resumed military action in the Strait of Hormuz, sending the price of oil higher.
📉 | One Notable Decliner: Rivian (RIVN) slid after announcing a 75M-share capital raise.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WILL THE CRUNCHWRAP HIT $6.66?
Taco Bell is rolling Omilia's voice AI out to nearly 900 US drive-thrus, two years after trolls talked an earlier Nvidia (NVDA)-built system into ringing up 18K cups of water.
Parent Yum Brands (YUM) says the bots free workers up for hospitality. Kalshi traders just want to know if the Crunchwrap Supreme stays under $6.66. The devil's number is in the details.
Market Movers
COGNIZANT, CATERPILLAR, T-MOBILE
📈 | Cognizant (CTSH) expanded its partnership with Google (GOOGL) Cloud to speed enterprise adoption of Gemini AI.
📉 | Caterpillar (CAT) slid after agreeing to buy drone-imaging firm Skycatch.
📉 | GE Vernova (GEV) tanked as AI infrastructure plays sold off.
📈 | Fiserv (FI) rose on a report it has discussed selling its debit payments infrastructure business to major US banks.
Tomorrow's Trade Idea, Today
FIRST SOLAR HAS FLAIR
Stock Spotlight
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Ray of Light
Deutsche Bank thinks the clouds over First Solar are about to part.
Analyst Corinne Blanchard upgraded the stock to Buy, arguing the recent selloff hands investors a rare entry point ahead of a stronger second half, which carries roughly 62% of the year's business, plus a normalized 2027.
Polysilicon Valley
Washington is investigating imports of polysilicon, the raw material behind solar panels and semiconductors, and the stock has sagged while investors wait for a verdict. But Blanchard expects S232 clarifications within weeks and a decision in August.
If the US lands on a fixed per-watt tariff instead of import quotas, as the market expects, First Solar gets a clear runway to scale.
Forecast: Mostly Sunny
The Street largely agrees that First Solar has flair. Of the 42 analysts covering the stock, 25 rate it a Buy or Strong Buy.
Shares are still deep in the red since early June, but Deutsche Bank's message is that the discount is the opportunity. Sometimes the best time to buy solar is when it's overcast.
Do you own any shares of First Solar (FSLR)?
OVERHEARD ON THE STREET
🌍 | President Trump revived his push for US control of Greenland at the NATO summit and floated pulling all US troops out of Europe.
🇷🇺 | A bipartisan group of senators plans to press Treasury Secretary Scott Bessent to back stalled sanctions on countries that buy Russian oil and uranium.
✈️ | Delta Air Lines (DAL), American Airlines (AAL), and United Airlines (UAL) are rebuilding around premium passengers, now their highest-margin business.
🏗️ | A 37-story Manhattan tower being converted from Pfizer's (PFE) former headquarters into luxury apartments remains structurally unstable after two columns buckled, forcing evacuations near Grand Central.
🚗 | Stellantis (STLA) opened US orders for the Fiat Topolino, a 19-mph electric quadricycle priced at roughly $14K.
MONDAY'S POLL RESULTS
Do you have any exposure to Chinese chipmakers?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐻 Nope, not interested — “I would not even purchase chocolate chips from China, much less an electronic device with a backdoor potentially built in!”
👀 No, but I'm interested — “This has potential but the Chinese regulatory environment makes investment riskier than is countries with a less opaque and more regulated market economy.”
