U.S. stocks finished mixed Friday as chip equipment rallied and rising Treasury yields weighed on most of the market.

Technology was one of only two sectors in the green. $AMAT +6.5% and $MU +3.9% carried the group, but nine sectors fell as the 10-year yield hovered near 5%.

Warren Buffett handed Berkshire’s chair to his son Howard but stayed on as a director and adviser. Greg Abel still runs the company. Retail traders crowded into $AMD and $APLD, while the $NFLX room fought over whether Wells Fargo’s $57 target made the selloff a warning or a buying opportunity.

Today's Briefing: Powered by Stocktwits Community API.

Berkshire Hathaway, the insurance-to-railroad conglomerate Warren Buffett built, named him chairman emeritus on Friday. His son Howard became chairman immediately, while Buffett remained a director and adviser.

“Howard cares deeply about Berkshire, as do all of our Directors,” Buffett wrote in his farewell address. “No company has been or will be more shareholder-minded than Berkshire. Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted. Father Time always wins.”

The RIP: $BRK.A and $BRK.B each finished +0.1%. Buffett, 96, had chaired Berkshire since 1970 and handed the CEO job to Greg Abel in January.

Howard has served on Berkshire’s board since 1993, but he is not replacing Abel. Abel still runs the company, while Howard takes charge of a board tasked with protecting the culture his father spent six decades building.

The stock barely moved. Traders treated the move like the final paperwork on a succession Berkshire telegraphed for years.

The Community Read: The $BRK.B room is neutral, split on Howard’s new role ->

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Gemini, the Winklevoss twins’ crypto exchange and prediction-markets platform, ripped Friday alongside a broad crypto rebound. No fresh company release landed. Traders instead revived the company’s May 14 insider investment, when Winklevoss Capital paid $100M in bitcoin for shares priced at $14.

The RIP: $GEMI surged +30.8% to $5.80 on 8.4M shares, nearly five times Thursday’s volume. The stock still sits 59% below that $14 insider price and 78% below its 52-week high.

Friday was a violent rerating of old facts. Stocktwits user @MrBuckles showed why plenty of holders are not celebrating yet, posting a $7.34 average cost even after adding at $3.53.

The Community Read: The $GEMI room is neutral, with underwater holders eyeing $7.34 ->

Netflix fell Friday after Wells Fargo downgraded the streaming giant to Underweight from Equal Weight. Analyst Steven Cahall cut his price target to $57 from $80, citing weaker viewer engagement and a softer slate of original shows.

The RIP: $NFLX dropped -4.7% to $71.77, touched $70.13, and traded 55.6M shares. Wells Fargo’s new target sits 21% below Friday’s close.

The bank expects viewing hours for Netflix’s top 100 original programs to fall 21% year over year during the second half. It also cut its valuation to 15 times forward earnings from 21 times. A huge cut from what used to be the streaming giant heavyweight of the world.

Fewer hits give Netflix’s advertising, live sports, gaming, and podcast push more work to do, Wells Fargo wrote. Stocktwits traders pushed back hard, with @chrisgMT arguing that daily household use and the sports pipeline still support the business.

The Community Read: The $NFLX room is neutral, and traders are fighting over $70 ->

Investors paid up for earnings visibility and AI infrastructure while dumping rate-sensitive and commodity-linked groups.

$XLV ( ▼ 0.25% ) Health Care: +1.8% WTD. Health care won the week, but leadership was concentrated in $TMO, $LLY and $ABBV. Watch $LLY, since continued strength in the sector heavyweight would confirm that investors are still rewarding dependable growth over economic sensitivity.

$XLK ( ▲ 0.82% ) Technology: +1.0% WTD. AI infrastructure retook leadership as $AMAT, $TER, $STX and $COHR jumped 5% to 7%. JPMorgan projected a steeper wafer-fab equipment upcycle, while Coherent expanded its AI-datacenter optics lineup. Watch $NVDA for broader participation.

$XLU ( ▼ 1.42% ) Utilities: -3.0% WTD. The Fed’s quarter-point rate hike and a 10-year Treasury yield near 5% crushed the market’s most rate-sensitive group. Watch $NEE, whose reaction to yields should indicate whether the selling is exhausted or just beginning.

$XLB ( ▼ 1.42% ) Materials: -1.9% WTD. Materials lost another support when Nucor’s quarterly guidance missed expectations despite stronger steel prices. Watch $NUE because further weakness would suggest investors are questioning industrial demand, not merely resetting one company’s earnings outlook.

$XLE ( ▼ 0.26% ) Energy: -1.3% WTD. WTI plunged 6.9% this week as additional Saudi supply cooled the Iran-war premium, yet refiners $MPC and $VLO remained roughly flat. Watch $XOM to see whether integrated producers can keep outperforming the underlying commodity.

Friday’s durable-goods report and the 10-year yield are next week’s rotation tests. Another yield push above 5% would keep pressure on defensives and leave AI spending as the market’s narrowest escape route.

35.6K WATCHERS · BEARISH · LOW ACTIVITY

SanDisk rallied ahead of Monday’s S&P 100 entry as index funds prepared to rebalance into a memory stock that had already surged sharply before the effective date.

46.3K WATCHERS · BULLISH · HIGH ACTIVITY

Applied Digital extended Thursday’s rally after Wells Fargo started coverage at Overweight with a $50 target, citing 1.4 gigawatts of contracted capacity across five data-center campuses in three states.

9.2K WATCHERS · BULLISH · HIGH ACTIVITY

Nucor forecast Q3 EPS of $5.55-$5.65 versus Q2’s adjusted $4.84 and said mill earnings would improve, but shares still finished as the S&P 500’s worst performer.

Bearish 🐻 | Bullish 🐮 | It’s Complicated 😵‍💫

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