U.S. stocks split Tuesday as falling crude eased inflation pressure but could not offset a sharp selloff in banks. The Nasdaq reached a record, small caps gained, and the Dow slipped back below 52,000.

Lawmakers like President Trump were in NYC Tuesday, meeting at the UN’s annual gathering of World leaders. Trump said it’s not ‘AI’ anymore, it’s ‘SI’ or Superior Intelligence. lmao.

AI and biotech provided the momentum on the tape. Micron extended its September run, joining the rest of chip memory stocks climbing on Meta’s Muse magic. Viking Therapeutics surged on obesity-drug data, and Royal Caribbean sank as traders weighed a reported $6B Sandals deal.

Stocktwits attention moved outside the megacaps, led by Trade Desk, IonQ, ImmunityBio, BlackBerry, and Innodata. Traders chased biotech and AI names even as the broader market struggled for direction.

Today's Briefing: Powered by Stocktwits Community API.

The Trade Desk, the ad-tech firm whose software buys digital ads programmatically, officially left the S&P 500 on Monday and landed in the S&P SmallCap 600. Sad trombone music. S&P Dow Jones Indices announced the move on September 4 as part of its quarterly rebalance, and it skipped the MidCap 400 entirely.

The RIP: $TTD ( ▼ 3.79% ) fell 5.0% to $13.18 on Tuesday, closing just above its 52-week low of $12.83. The stock sits roughly 90% below its December 2024 peak near $141, with a market cap around $6.5B versus $69B at the top.

The demotion is mechanical, but the business earned it. Second-quarter revenue grew just 3% to $715M, missing estimates, and 575 employees were shown the door the same day the index removal was announced. A September 18 proxy now asks shareholders to approve repricing underwater employee options with strikes as high as $122.59. That tells you everything about the last 14 months.

The Community Read: The $TTD room is split on the demotion, see the bottom-fishing debate ->

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Royal Caribbean, the cruise operator, is nearing a deal to buy a majority stake in Sandals Resorts International, the Caribbean all-inclusive chain with 20 resorts. The Financial Times reported the talks on Tuesday, and a deal valuing Sandals at more than $6B would be the largest in Royal Caribbean's history.

The RIP: $RCL fell 6.1% to $234.89 on Tuesday, its lowest close since May 9. Members of the Stewart family would keep equity in Sandals, with Royal Caribbean able to take full control later. A deal could be announced within days, though talks could still collapse.

Traders hate big acquisitions, and this one is six times the size of its previous biggest, the $1B Silversea purchase in 2020. The strategy is the land-and-sea vacation empire: cruises are only about 2% of global travel spending. The stock is also down roughly 25% over the past year on softer European demand, so the market is pricing execution risk on top of a wobbly consumer.

The Community Read: The $RCL room is bullish on the dip, see the Sandals math debate ->

Viking Therapeutics, a clinical-stage biotech with no approved drugs, posted weight-loss data that put it in direct competition with Eli Lilly and Novo Nordisk. Its dual GLP-1/GIP drug VK2735 produced 16% to 19% weight loss at 21 weeks with no sign of plateauing, and an exploratory group reached 22% by week 33. The weekly injection uses the same mechanism as Lilly's Zepbound, and Viking is developing an oral version too.

The RIP: $VKTX surged 36% to $40.85 on Tuesday, its largest single-day gain since February 2024 and highest close since December 2024. Nearly all trial patients lost weight, versus 0% for placebo.

This is why Viking is a permanent buyout rumor: a Zepbound-class oral and injectable is exactly what every big pharma pipeline is missing. Lilly and Novo slipped as traders priced a real third challenger, and Roche posted positive obesity data of its own on Tuesday. The duopoly discount is widening across the space.

The Community Read: The $VKTX room is bullish on the data, see the buyout-price debate ->

Micron, the Boise memory-chip maker, kept its September tear going as the AI memory trade showed no signs of cooling. The stock is riding a global memory shortage into its fiscal fourth-quarter report next week.

The RIP: $MU jumped 5% to close at $1,096.16 on Tuesday, its fourth straight gain, rebounding off the 50-day moving average. Earnings land September 30, with analysts expecting adjusted EPS of $31.43, up 937% from a year ago, on revenue of $50.82B, up 349%.

The bar is absurd and the stock keeps clearing it. Memory peers are confirming the cycle: Sandisk jumped 6.7% to $1,885.73 the same day. TD Cowen's Krish Sankar carries a $1,600 price target. The risk is all in next Wednesday's print: with expectations this stretched, anything short of a blowout gets sold.

The Community Read: The $MU room is bullish into earnings, see the price-target debate ->

150.9K WATCHERS · EXTREMELY BULLISH · HIGH ACTIVITY

BlackBerry landed the first customer design win for Alloy Kore, with Daimler Truck and Volvo joint venture Coretura selecting the QNX-Vector platform for commercial vehicles ahead of Thursday’s earnings.

139.2K WATCHERS · BEARISH · NORMAL ACTIVITY

Shopify said Meta’s Muse will use Shop Pay to complete purchases across its merchant network, putting the e-commerce platform directly inside the AI agent’s checkout flow.

7.1K WATCHERS · EXTREMELY BEARISH · EXTREMELY HIGH ACTIVITY

Berkshire Hathaway bought another $212.4M of Lennar shares, lifting its ownership to roughly 10% and deepening a housing bet despite the homebuilder’s weaker operating backdrop.

35.8K WATCHERS · BEARISH · NORMAL ACTIVITY

Rosenblatt launched Sandisk at Buy with a $2,400 target, arguing AI workloads are creating a storage squeeze after the shares had already climbed 644% this year.

15K WATCHERS · BEARISH · LOW ACTIVITY

Amgen said dazodalibep met the primary endpoint in a 621-patient Phase 3 Sjögren’s disease trial, though the company still needs results from a second study before filing for approval.

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🛢️ Trump says he backs diesel export ban to curb soaring energy costs

🧬 NTRA Stock Hits All-Time High, OMER Stock Scales 5-Year Peak – What’s Driving Investors’ Enthusiasm Today

📊 Beshear says he didn’t write book because he’s planning 2028 White House bid

🌎 US, Iranian officials hold three-hour meeting at UN: Trump

💰 Binance buys $100 million Circle stake in five-year USDC promotion deal

📊 More Fed Officials Warn Of Higher-For-Longer Inflation, Backing Last Week’s Rate Hike

🪙 The crypto move you missed today, explained before you wake up to it

Macro: S&P Global Flash Manufacturing PMI (9:45 AM ET), S&P Global Flash Services Purchasing Managers Index (PMI) (9:45 AM ET), Fed Governor Michael Barr speaks (10:05 AM ET). 📊
Pre-Market Earnings: $ZENA ZenaTech Inc., $GIS General Mills, Inc., $MANU Manchester United Plc. - Ordinary Shares - Class A, $CBRL Cracker Barrel Old Country Store Inc, $PAYX Paychex Inc., +1 more. ☀️
After-Market Earnings: $SFIX Stitch Fix Inc - Ordinary Shares - Class A. 🌙

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

Want to see some change? Email me, Kevin Travers, with feedback, and 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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