HAPPY FRIDAY TO THE STREET
Tesla (TSLA) fell more than 3%, its third straight down day, putting shares on pace for a nearly 19% weekly loss. The slide started Thursday, when the stock tanked almost 15% after the company signaled heavier spending on AI. Investors love an AI story. They're less fond of the invoice.
🟨 | US stocks were mixed as falling oil offered relief, but chip declines and geopolitical risks kept the market cautious.
📈 | One Notable Gainer: Digital Realty Trust (DLR) surged after big Q2 beats and a full-year guidance hike.
📉 | One Notable Decliner: MaxLinear (MXL) tumbled despite a Q2 beat and strong guidance, following a 400% run in 2026.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
WILL STARSHIP FINALLY FLY TONIGHT?
Third time's the charm? SpaceX aims to launch Starship Flight 13, the world's largest and most powerful rocket, tonight at 6:45pm ET after an engine abort on July 16 and a weather scrub yesterday. Liftoff would land on the 57th anniversary of Apollo 11's return to Earth. History is watching. So is everyone with a Kalshi position.
Market Movers
TENET HEALTHCARE, SLB, AMERICAN EXPRESS
📈 | Tenet Healthcare (THC) crushed Q2 earnings estimates and guided above expectations.
📈 | SLB (SLB) beat on earnings and revenue as customers focus on energy security.
📈 | Booz Allen Hamilton (BAH) topped fiscal Q1 earnings estimates and reaffirmed its outlook.
📉 | American Express (AXP) missed Q2 revenue expectations.
📉 | C.H. Robinson Worldwide (CHRW) plans to appeal a $604M jury verdict tied to a trucking accident.
Tomorrow's Trade Idea, Today
INTEL INSIDE, BULLS OUTSIDE
Stock Spotlight
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Double Trouble
Intel doubled the Street's earnings forecast with EPS of 42 cents, and revenue of $16.1B came in 25% above last year, its sharpest growth in nearly 15 years. Wall Street's response was a polite golf clap.
Analyst Aaron Rakers held his Equal Weight rating, arguing it is still too early to make a definitive call on process node leadership or external foundry customer wins.
Foundry Fathers
The manufacturing comeback is the story. Intel reaffirmed its 14A and 18A roadmap, with 18A output running roughly 25% above target and up more than 50% quarter over quarter.
Data center sales surged 59% year over year as agentic AI lifts server demand. Rakers still wants proof of a sustainable 50%+ gross margin, with AMD (AMD) and Arm (ARM)-based CPUs crowding the field.
Split Decision
The rest of the Street is all over the map. Goldman Sachs (GS) sits at Neutral with a $150 target, BoA (BAC) says Buy at $160, Bernstein rates it Market Perform at $110, and JPMorgan (JPM) stays Underweight at $85.
Shares have been on a tear this year, and the beats keep coming. For now, most of Wall Street is applauding the comeback from the bleachers.
Do you own any shares of Intel (INTC)?
OVERHEARD ON THE STREET
🤖 | Anthropic launched Claude Opus 5, its best-performing model yet at half the price of its predecessor.
🥬 | The CDC linked nearly 2K cyclospora infections across nine states to contaminated iceberg lettuce served at Taco Bell.
⚖️ | Rivian (RIVN) sued the US government for a full refund of the "Liberation Day" tariffs the Supreme Court ruled unconstitutional.
🛡️ | Anduril is reportedly raising new capital at a valuation near $100B, up from $61B in May.
THURSDAY'S POLL RESULTS
Do you own any shares of Affirm (AFRM)?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐻 Nope, not interested — “Unsecured microloans don't seem like a reliable business model.”
Disclaimers (if applicable)
