HAPPY WEDNESDAY TO THE STREET
Constellation Brands (STZ) beat Wall Street's estimates, but beer depletions slipped as cash-strapped drinkers stay choosy at the cooler. So the Modelo and Corona maker is chasing game days, beach parties and canned cocktails, buying ready-to-drink brand SpikedAde for $75M up front. Apparently "it's Wednesday" no longer counts as a special occasion.
🟥 | US stocks fell today as Treasury yields hit 24-year highs and hawkish Fed minutes pressured financials and tech.
📈 | One Notable Gainer: Penguin Solutions (PENG) jumped after Q4 results topped expectations.
📉 | One Notable Decliner: Webull (BULL) tumbled after a congressional panel called its China ties a national security risk.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
Market Movers
MICRON, CITIGROUP, NETAPP
📈 | Micron (MU) rose after D.A. Davidson said it expects the chipmaker to triple.
📉 | Citigroup (C) fell with big banks as long-dated Treasury yields hit 24-year highs.
📉 | Worthington Steel (WS) posted sharply lower fiscal Q1 earnings.
📈 | Constellation Brands (STZ) beat fiscal Q2 earnings and revenue estimates.
Tomorrow's Trade Idea, Today
CROSS MY CHART
Stock Spotlight
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Crossing Over
Meta Platforms just drew a line in the chart. Its 50-day moving average crossed above its 200-day, forming a rare golden cross.
Technicians read the pattern as short-term momentum overtaking the long-term trend. Shares have rallied hard over the past month and now trade well above both yardsticks.
Muse-ic to Their Ears
The spark was Muse, Meta's personal AI agent, which quickly became the most popular free new app in Apple's (AAPL) App Store.
WisdomTree's (WT) Sam Rines views Muse as the first tangible return on Meta's heavy AI spending, which had long made investors skeptical. Wells Fargo has since lifted its price target.
Past Performance
Meta has flashed this signal five times before, with mixed results. Crosses in 2013 and 2020 preceded big gains over the following year.
The 2018 and 2025 crosses faded, with shares in the red six months later. So the chart has drawn its cross. Now Muse has to carry it.
Do you own any shares of Meta Platforms (META)
OVERHEARD ON THE STREET
🏦 Fed minutes show most officials expect another rate hike by year end, with no hint on timing.
🏠 The average 30-year mortgage rate jumped to 7.49%, its highest in nearly three years.
💻 SpaceX signed an AI computing deal worth $1.1B per month with an undisclosed customer.
🏈 Disney (DIS) will stream the Super Bowl on Disney+ at no extra cost to US subscribers.
TUESDAY’S POLL RESULTS
Do you own any shares of Constellation Energy (CEG)
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐻 Nope, not interested — “Because I’ve owned Vistra for years.”
👀 No, but I’m interested — “Only if the government backs off on price controls. That's what tanked the stock price earlier this year.”
Disclaimers (if applicable)
