HAPPY THURSDAY TO THE STREET
Microsoft (MSFT) dusted off its oldest pitch at Build this week, putting Windows back at center stage and reframing Bill Gates' "a computer on every desk" as "unmetered intelligence on every desk." Paired with Nvidia's (NVDA) new RTX Spark chips, the sell is local AI you actually own.
Almost like a personal computer, but for AI. Easy as PAI?
🟩 | US stocks finished near the flatline today, except for the 30-stock DJIA, which jumped sharply, buoyed by several mega-caps.
📈 | One Notable Gainer: Blackstone (BX) jumped as investors shrugged off news it's capping withdrawals from its private credit fund.
📉 | One Notable Decliner: Broadcom (AVGO) tumbled after fiscal Q2 revenue missed estimates.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WHICH COMPANIES WILL JOIN THE IPO PARTY THIS YEAR?
Another day, another hot IPO.
Quantinuum (QNT) popped nearly 13% in its Nasdaq debut, valuing the Honeywell (HON) spinoff at $17.6 billion, while SpaceX, Anthropic, and OpenAI all circle the runway.
Prediction markets are now pricing who files next. Place your bets before the closing bell.
Market Movers
PVH, UNITEDHEALTH, FIVE BELOW
📉 | PVH (PVH) plunged after reiterating its full-year earnings guidance.
📉 | Five Below (FIVE) fell despite a better-than-expected outlook.
📈 | Alnylam (ALNY) rose on a $2B AI partnership with Inceptive Nucleics.
📉 | CrowdStrike (CRWD) dropped on soft second-quarter guidance.
Tomorrow's Trade Idea, Today
THE GAS ALSO RISES
Stock Spotlight
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Catalyst On Tap
JPMorgan thinks the gas isn't done flowing.
Analyst Jeremy Tonet upgraded Venture Global to Overweight, arguing the LNG player has a clear catalyst path ahead. The market, he believes, is underpricing how long volatility will linger once the US-Iran war ends.
War Premium
Tonet sees LNG prices staying elevated even as the conflict cools. Infrastructure damage to oil-rich nations like Qatar, plus a fresh political risk premium, could keep prices high for the foreseeable future.
Pricing has been slow to reflect the risk of physical supply displacement, he noted. That, he argues, plays straight into Venture Global's strengths, fueling outsized margin capture and stronger long-term contracting.
The Street's Warm
The stock surged when the war erupted in March, then surrendered much of those gains across April and May.
Wall Street stays warm, with 10 of 18 covering analysts rating shares a Buy or Strong Buy. JPMorgan is betting the next leg higher is just a spark away.
Do you own any shares of Venture Global (VG)?
OVERHEARD ON THE STREET
📊 | Kalshi is building a "Bloomberg Terminal" for its highest-engaged prediction-market traders, now in alpha testing.
⚫ | The Trump administration is expected to announce nearly $700M to back coal plants and exports, clearing the first new US coal plants since 2013.
⚖️ | The Supreme Court ruled 8-1 that the FCC can enforce data privacy fines on Verizon (VZ) and AT&T (T), upholding a combined $100M penalty.
☁️ | Pinterest (PINS) signed a $4B deal for Amazon (AMZN) Web Services cloud computing through 2031.
✈️ | Several staff were injured when the nose gear of a Lufthansa Boeing (BA) 787 collapsed at Frankfurt airport.
WEDNESDAY’S POLL RESULTS
Do you own any shares of Iridium Communications (IRDM)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — “I have done very well so far, and will continue to ride this one.”
🐻 Nope, not interested — “It's surprising Iridium is still around. Relying on a direct competitor for launch services hardly seems like a good business model.”
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