Stocks climbed to fresh records Tuesday as AI demand and earnings optimism outweighed high borrowing costs. Only two days till Delta, and one week till the big boy financial giants The S&P 500 rose 0.6%, the Nasdaq added 0.4%, hitting record highs, and the Dow gained 0.5%. The Russell 2000 fell 0.7%. 📈

Ten sectors closed green. Utilities led at +3%, while health care lagged at -0.2%. Still, only 25% of S&P 500 stocks sat above their 50-day averages.

The 10-year yield eased two basis points to 5.27%. WTI crude added 0.5% to $89.91, gold rose 0.7%, and the dollar slipped 0.2%.

Stocktwits’ closing pulse centered on $NLST and post-earnings $PENG, while the storage selloff kept $WDC and $STX busy. Records on top, disagreements underneath. 👀

Today's Briefing:

Seagate Technology, one of the world’s largest hard-drive makers, plunged Tuesday after Bloomberg reported it and Toshiba are bidding several billion dollars for TDK’s magnetic-heads business. TDK is the industry’s only independent supplier of the component, making control strategically valuable to both bidders. TDK said no decision has been made.

The RIP: $STX fell 9.2% to $805.63 on 7.2M shares, about 1.3 times its recent pace. The stock remains up 194% this year, even after losing 12% over five sessions.

Owning TDK’s unit would give the winner tighter control over a critical part and leave the loser buying from a competitor. That risk landed hard because Seagate’s rally already priced in scarce supply, strong AI data-center demand, and favorable HDD pricing. Its 58x earnings multiple did not leave much room for a multibillion-dollar bidding war.

The bullish community thinks the storage-scarcity thesis survives the bidding war ->

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Cisco Systems climbed Tuesday as its October rollout brought Supermicro’s liquid- and air-cooled GPU systems into the company’s authorized sales channel. The networking giant is packaging the servers with Nvidia software, Cisco switches and security, and Splunk observability as one validated AI infrastructure stack.

The RIP: $CSCO rose 4.5% to $117.94 on 20.9M shares, about 1.3 times its recent pace. The stock gained 11% over five sessions and is up 56% this year.

Cisco usually sells the plumbing around AI clusters. Adding Supermicro compute lets it chase more of each deployment and gives customers one vendor for design, validation, and support. According to Reuters, Cisco booked $9.3B of hyperscaler AI-infrastructure orders in fiscal 2026 and expects $7.5B in related fiscal 2027 revenue.

The launch does not disclose pricing, partner economics, or customer orders tied to the expanded package. The hardware is ready. The profit math is still missing.

Cisco ticker talk is nearly split on how much AI upside is priced in ->

Netlist, a memory-module maker with patents covering server DIMMs and high-bandwidth memory, struck a five-year licensing deal with Micron on Tuesday. The companies settled and released all pending legal proceedings, taking an import-ban fight off the table.

The RIP: $NLST surged 17.4% to $6.64. Micron will pay $30M per quarter from the fourth quarter of 2026 through the third quarter of 2031, totaling $600M. The stock climbed 300%+ in the past six months on retail hopes this deal would go well.

That payment schedule gives Netlist $120M a year before product sales, with none of the uncertainty or legal expense attached to a courtroom award. For context, the company generated roughly $189M in annual revenue before the deal. The community is huge on this stock, check out the reactions::

Bullish ticker talk celebrates the cash; skeptics wanted more upfront ->

Google and Constellation Energy signed a 20-year power agreement Tuesday that will fund $4.3B of upgrades across 11 existing nuclear units in Illinois, Pennsylvania, and New Jersey. The work will add 890 megawatts to the PJM grid, roughly the output of one new reactor, with the first increase expected in 2028.

Vistra got its own boost after the Energy Department offered a conditional loan commitment of up to $4.2B for upgrades at plants in Pennsylvania and Ohio. Those projects would preserve nearly 4 gigawatts, add 433 megawatts, and support another 20 years of operation. All in all, a good day for power plants.

The RIP: $CEG surged 12.2% to $300.40, while $VST jumped 10.8% to $160.50. $GOOGL added 0.3%.

Neither project requires building a reactor from scratch. Google’s long-term contract gives Constellation enough revenue certainty to upgrade existing plants, while federal financing could lower Vistra’s cost of doing the same. The Vistra money is not final, though. The company must satisfy technical, legal, environmental, and financial conditions before funding arrives. 🔌

2.4K WATCHERS · EXTREMELY BULLISH · EXTREMELY HIGH ACTIVITY

JPMorgan upgraded the post-spin crop-chemicals company to Overweight and set a $19 target, roughly 53% above Monday’s close, arguing investors mispriced the business after Vylor’s separation.

53.3K WATCHERS · BEARISH · NORMAL ACTIVITY

Marvell raised its fiscal 2028 revenue target to $20B from $18B and projected as much as $90B by fiscal 2031 as AI silicon and networking demand accelerates.

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🎬 Paramount Finally Closed Warner Bros. Discovery. The Hard Part Came First

⚛️ Google’s Nuclear Deal Sent Three Power Stocks Flying

🤖 Anthropic’s Valuation Now Dwarfs Most of the S&P 500

💾 Lambda Wants One More Giant Round Before Its IPO

💰 Big Tech’s Earnings Streak May Finally Crack

🪙 The Winklevoss Twins Filed for Another Zcash ETF

📈 The best trade idea posted on Stocktwits today, chart included

Macro: Federal Open Market Committee (FOMC) meeting minutes (2:00 PM ET). 📊
After-Market Earnings: $APLD Applied Digital Corporation, $HKD AMTD Digital Inc - ADR, $TGL Treasure Global Inc, $LEVI Levi Strauss & Co. - Ordinary Shares - Class A. 🌙

P.S. You can listen to all of these earnings calls on Stocktwits.

Want to see some change? Respond to this email and reach me, Kevin Travers, with feedback. Follow me on Stocktwits. Send me charts and ideas! Refer a friend for this quarter’s edition of The RIP Forecast 😎

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