Stocks closed down on the day but green on the week, as utilities and consumer staples were the only sectors to close positive. Still, market participants continue to find opportunities on the long side as the Fed’s rate cuts fuel optimism. 👀

Today's issue covers beaten-down brands catching a bid, AI investments going nuclear, and signs Micron could be bottoming. 📰

Here’s the S&P 500 heatmap. 2 of 11 sectors closed green, with utilities (+2.64%) leading and materials (-0.71%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $LFLY, $NBY, $CEG, $CERO, $ZVRA, 📉 $CRBP, $FRES, $DRI, $CVNA, $BIOR*

*If you’re a business and want to access this data via our API, email us.

Starbucks' poaching of Chipotle’s CEO sparked a lot of bottom-fishing in the stock market’s biggest brands, which have been left behind in the bull market.

Nike is the latest beneficiary, with the struggling athletic footwear and apparel company’s CEO, John Donahoe, stepping down amid a leadership shakeup. Former senior executive Elliott Hill will rejoin the company, bringing his 32 years of experience in leadership positions across Europe and North America to get things back on track. 👨‍💼

Nike shares posted a 7% gain on the news, with analysts and retail investors cheering the move. Stocktwits sentiment pushed into ‘extremely bullish’ territory as turnaround hopes find some momentum. 📈

Intel was also in the news today, being halted late in the day on news that Qualcomm recently approached the company about a possible takeover. 😮

Analysts expressed some concerns that Qualcomm ($190 billion market cap) may not have the funding to take over the company, which currently has a market cap of $90 billion. Still, the company’s recent efforts around its foundry business and other initiatives have renewed optimism in the stock.

Stocktwits sentiment pushed into ‘extremely bullish’ territory as investors digested the news. 🐂

With semiconductor stocks perking back up over the last two weeks, Micron has failed to attract the same level of interest…at least until now. 🧐

Stocktwits user @TheProphetOfProfit pointed out that the stock has begun to stabilize above trendline support and its YTD lows, with momentum diverging positively.

Given the market has turned into positive territory and investors are taking shots at beaten-down stocks, Micron looks potentially ripe to rip. However, it does report earnings on Wednesday after the bell, so some volatility is anticipated. 🤷

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If artificial intelligence (AI) will be as big a deal as the world is betting on, then we will need much more power. That’s why billions of dollars are being poured into infrastructure to support the industry, including nuclear energy.

Constellation Energy and Microsoft have signed a power deal to help support the restart of the Three Mile Island nuclear power plant in Pennsylvania. It gives the utility giant the backing it needs to begin applying for the key regulatory permits needed to begin the project. 👍

The project faces an uphill battle as the companies try to resurrect a plant at the center of one of our country’s largest industrial accidents ever. Still, many believe this nearly carbon-free and reliable energy source will be key to delivering the world’s uninterrupted power needs and meeting climate goals.

So far, investors remain optimistic that this push will be successful over the long term. Shares of Constellation Energy popped 22% to new all-time highs, as Stocktwits sentiment pushed into ‘extremely bullish’ territory. ⚡

⚡ US announces $3 billion in funding for new battery projects

📉 Trump Media closes at a new 52-week low on heavy trading after lockup expires

😮‍💨 Philip Morris sells asthma inhaler company, citing ‘unwarranted opposition’ to its goals

⏸️ Bank of Japan keeps key interest rate steady as it treads cautiously on normalizing policy

💳 American Airlines in talks to pick Citigroup over rival bank Barclays for crucial credit card deal, sources say

❌ Largest port on U.S. East Coast, New York/New Jersey, begins prepping for what could be first union strike since 1977

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