Evolv Reports, and Here’s What I’d Do … If I Had the Cash
The $10K Portfolio holding Evolve Technologies reports and here’s my take on what to do now.
This Morning’s Market Recon Column
That includes my sharp rebuke of Cleveland Fed Pres. Beth Hammack that is probably even more pertinent now that July retail sales have hit the tape.
I’m a Little ‘Fed’ Up … | TheStreet Pro
Positions: Long SNDK, MU equity.
Selected Analyst Moves
Provided by TheFly…
Applied Materials price target lowered to $605 from $680 at Deutsche Bank
AMAT
8:29 AM
Deutsche Bank analyst Melissa Weathers lowered the firm’s price target on Applied Materials to $605 from $680 and keeps a Buy rating on the shares post the fiscal Q3 report. The firm views the company’s outlook as “hazy” but says the stock’s long-term thesis remains intact.
Globant price target lowered to $35 from $40 at Canaccord
GLOB
8:29 AM
Canaccord lowered the firm’s price target on Globant to $35 from $40 and keeps a Hold rating on the shares. The firm updated its model following Q2 results where guidance was lowered but the firm’s conviction is up as revenue of $614M landed inside the guided range and roughly flat year-over-year, but profitability came in below it.
Aveanna price target raised to $16 from $11.50 at Deutsche Bank
AVAH
8:29 AM
Deutsche Bank raised the firm’s price target on Aveanna to $16 from $11.50 and keeps a Buy rating on the shares.
UDR price target lowered to $44 from $45 at Deutsche Bank
UDR
8:28 AM
Deutsche Bank analyst Peter Abramowitz lowered the firm’s price target on UDR to $44 from $45 and keeps a Buy rating on the shares.
Applied Materials price target lowered to $642 from $646 at Morgan Stanley
AMAT
8:28 AM
Morgan Stanley lowered the firm’s price target on Applied Materials to $642 from $646 and keeps an Equal Weight rating on the shares. By “no means is 42% systems shipment growth ‘bad’,” says the analyst, who thinks the market was expecting Applied to “provide greater confidence” following peer earnings that pointed to system shipment growth of more than 40%. Earnings were “good, but not great,” the analyst added.
Andersen Group price target raised to $56 from $41 at Deutsche Bank
ANDG
8:28 AM
Deutsche Bank raised the firm’s price target on Andersen Group to $56 from $41 and keeps a Buy rating on the shares. The company reported “impressive” organic growth with a conservative outlook, the analyst tells investors in a research note.
Femasys price target lowered to $10 from $30 at Maxim
FEMY
8:28 AM
Maxim analyst Jason McCarthy lowered the firm’s price target on Femasys to $10 from $30 and keeps a Buy rating on the shares. The firm cites the company having announced a $30M equity financing which extends its operating runway into Q3 of 2027, though with the balance sheet strengthened, Femasys should be able to fund its ongoing commercial efforts for its FemaSeed fertility treatment while also advancing the ongoing pivotal study evaluating FemBloc for permanent birth control, the analyst tells investors in a research note.
Blend Labs price target lowered to $3 from $4.50 at Canaccord
BLND
8:28 AM
Canaccord lowered the firm’s price target on Blend Labs to $3 from $4.50 and keeps a Buy rating on the shares. The firm said the company continues to do all it can in terms of growth, profitability, and product set expansion, despite the persistently tough mortgage macro.
KinderCare Learning price target raised to $6 from $5 at Deutsche Bank
KLC
8:28 AM
Deutsche Bank raised the firm’s price target on KinderCare Learning to $6 from $5 and keeps a Hold rating on the shares.
Yeti price target raised to $56 from $55 at Raymond James
YETI
8:27 AM
Raymond James analyst Joseph Altobello raised the firm’s price target on Yeti to $56 from $55 and keeps an Outperform rating on the shares. Solid execution, innovation, and brand development have positioned the company as a high-quality consumer growth story, with near-term competitive, tariff, and inflation pressures largely reflected in forecasts and valuation while long-term growth prospects remain compelling, the analyst tells investors in a research note.
Target price target raised to $140 from $126 at Deutsche Bank
TGT
8:27 AM
Deutsche Bank raised the firm’s price target on Target to $140 from $126 and keeps a Hold rating on the shares. The firm says investor expectations are “very elevated” into Target’s Q2 earnings report. The more important debate is whether improving store and merchandising execution supports confidence in company’s fiscal 2027 growth durability, the analyst tells investors in a research note. Deutsche believes much of Target’s turnaround progress is reflected in the stock.
MapLight Therapeutics price target lowered to $31 from $35 at Raymond James
MPLT
8:27 AM
Raymond James lowered the firm’s price target on MapLight Therapeutics (MPLT) to $31 from $35 and keeps a Strong Buy rating on the shares. Following the ZEPHYR readout, the firm’s investment thesis increasingly centers on ADP, with Bristol’s (BMY) Phase 3 ADEPT data by YE26 and MapLight’s Phase 2 VISTA results in 2H27 serving as key catalysts, while the remaining opportunity remains supported by KOL feedback despite limited efficacy differentiation versus Cobenfy, the analyst tells investors in a research note.
Block price target raised to $100 from $85 at Canaccord
XYZ
8:27 AM
Canaccord analyst Joseph Vafi raised the firm’s price target on Block to $100 from $85 and keeps a Buy rating on the shares. The firm said two quarters after announcing a significant workforce reduction as part of its AI transformation, the company is demonstrating that growth and efficiency are not mutually exclusive. They are benefitting from Cash App which is driving growth while benefitting from AI productivity gains.
Burlington Stores price target raised to $410 from $365 at Jefferies
BURL
8:26 AM
Jefferies raised the firm’s price target on Burlington Stores to $410 from $365 and keeps a Buy rating on the shares. Off-price “remains one of our preferred channels into earnings,” says the analyst, who views Burlington as positioned to sustain share gains despite “mixed” alternative data.
Definium Therapeutics price target raised to $55 from $50 at Maxim
DFTX
8:26 AM
Maxim raised the firm’s price target on Definium Therapeutics to $55 from $50 and keeps a Buy rating on the shares. The firm cites the company having announced topline data from Voyage, its first pivotal study in generalized anxiety disorder, GAD), meeting the primary and all key secondary endpoints, also noting that data from the confirmatory pivotal study, Panorama, are expected in September, the analyst tells investors in a research note.
Jefferson Capital price target raised to $24 from $21 at Raymond James
JCAP
8:26 AM
Raymond James analyst Robert Dodd raised the firm’s price target on Jefferson Capital to $24 from $21 and keeps an Outperform rating on the shares. Jefferson Capital’s lower leverage, efficient collections model, strong U.S. exposure, and recent acquisition position the company for medium-term outperformance, the analyst tells investors in a research note.
Ryman Hospitality price target raised to $152 from $150 at Deutsche Bank
RHP
8:26 AM
Deutsche Bank raised the firm’s price target on Ryman Hospitality to $152 from $150 and keeps a Buy rating on the shares.
Park Hotels & Resorts price target raised to $18 from $17 at Deutsche Bank
PK
8:26 AM
Deutsche Bank raised the firm’s price target on Park Hotels & Resorts to $18 from $17 and keeps a Buy rating on the shares.
J.M. Smucker price target raised to $107 from $102 at Deutsche Bank
SJM
8:26 AM
Deutsche Bank analyst Steve Powers raised the firm’s price target on J.M. Smucker to $107 from $102 and keeps a Hold rating on the shares.
Aveanna price target raised to $15 from $13 at Raymond James
AVAH
8:25 AM
Raymond James raised the firm’s price target on Aveanna to $15 from $13 and keeps a Strong Buy rating on the shares. Aveanna’s Q2 EBITDA beat and higher guidance leave room for further upside, with broad-based strength, California rate increases, and an improved long-term growth framework supporting the bullish outlook, the analyst tells investors in a research note.
Hertz price target raised to $2.80 from $2.65 at Deutsche Bank
HTZ
8:25 AM
Deutsche Bank raised the firm’s price target on Hertz to $2.80 from $2.65 and keeps a Hold rating on the shares. The firm says the market is looking for indications of how quickly Hertz might transform the business mode.
Positions: none
Retail Sales
Positions: None.
Around 90 Minutes to Go…
(Following was from around 7:30 a.m. ET:)
S&P futures: +4 vs FV
Nasdaq Futures: +82 vs FV
US Ten-Year Note: 4.656%
US Two-Year Note: 4.144%
US 3-Month T-Bill: 3.79%
WTI Crude: +0.5%
US Dollar Index: -0.25%
Gold: -0.19%
Silver: -0.1%
Bitcoin: -0.81%
positions: Long physical gold & silver
S&P futures: +4 vs FV
Nasdaq Futures: +82 vs FV
US Ten-Year Note: 4.656%
US Two-Year Note: 4.144%
US 3-Month T-Bill: 3.79%
WTI Crude: +0.5%
US Dollar Index: -0.25%
Gold: -0.19%
Silver: -0.1%
Bitcoin: -0.81%
Positions: Long physical gold & silver
I’m a Little ‘Fed’ Up …
I’d like to respectfully disagree with the Cleveland Fed president, make a few points about inflation, and take a look at Iran.
Today’s Conference
from TheFly:
8th Annual Needham Virtual FinTech & Digital Transformation 1×1 Conference
Managers: NEED-Needham | City: Virtual Conference
Positions: none
Today’s Calls
From TheFly:
Acurx – ACXP 8/14/26 08:00:00 ET
Managers: Company Sponsored | Call in Number: 877-790-1503 | Call in Code: 13761686 | International Call in Number: 877-790-1503 | International Call in Code: 13761686 | Streaming Link
RLX Technology – RLX 8/14/26 08:00:00 ET
Managers: Company Sponsored | Call in Number: 888-317-6003 | Call in Code: 7036236 | International Call in Number: 412-317-6061 | International Call in Code: 7036236 | Streaming Link
Edible Garden – EDBL 8/14/26 08:00:00 ET
Managers: Company Sponsored | Call in Number: 888-506-0062 | Call in Code: 248059 | International Call in Number: 973-528-0011 | International Call in Code: 248059 | Streaming Link
Gemini – GEMI 8/14/26 08:30:00 ET
Managers: Company Sponsored | Streaming Link
Teamshares – TMS 8/14/26 08:30:00 ET
Managers: Company Sponsored | Streaming Link
Net Power – NPWR 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-8014 | International Call in Number: 201-689-8053 | Streaming Link
PAVmed – PAVM 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 800-836-8184 | Call in Code: PAVmed Business Update | International Call in Number: 646-357-8785 | International Call in Code: PAVmed Business Update | Streaming Link
Milestone Scientific – MLSS 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 888-506-0062 | Call in Code: 252290 | International Call in Number: 973-528-0011 | International Call in Code: 252290 | Streaming Link
Outlook Therapeutics – OTLK 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-8291 | International Call in Number: 201-689-8345 | Streaming Link
Super League Enterprise – SLE 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-0779 | International Call in Number: 201-389-0914 | Streaming Link
AirJoule Technologies – AIRJ 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-6184 | International Call in Number: 877-407-6184 | Streaming Link
Lument Finance Trust – LFT 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 800-836-8184 | International Call in Number: 646-357-8785 | Streaming Link
VolitionRx – VNRX 8/14/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-9716 | Call in Code: 13762190 | International Call in Number: 201-493-6779 | International Call in Code: 13762190 | Streaming Link
BayFirst Financial – BAFN 8/14/26 09:00:00 ET
Managers: Company Sponsored | Call in Number: 833-461-5787 | Call in Code: 560643219 | International Call in Number: 833-461-5787 | International Call in Code: 560643219 | Streaming Link
Immucell – ICCC 8/14/26 09:00:00 ET
Managers: Company Sponsored | Call in Number: 844-855-9502 | International Call in Number: 412-317-5499 | Streaming Link
MBRF Global – MBRFY 8/14/26 09:00:00 ET
Managers: Company Sponsored | Streaming Link
Firy – FIRY 8/14/26 09:00:00 ET
Managers: Company Sponsored | Streaming Link
Lantern Pharma – LTRN 8/14/26 09:00:00 ET
Managers: Company Sponsored | Streaming Link
Xcel Brands – XELB 8/14/26 09:30:00 ET
Managers: Company Sponsored | Call in Number: 800-715-9871 | Call in Code: 4300396 | International Call in Number: 646-307-1963 | International Call in Code: 4300396 | Streaming Link
Suncrete – RMIX 8/14/26 10:00:00 ET
Managers: Company Sponsored | Call in Number: 201-389-0872 | International Call in Number: 201-389-0872 | Streaming Link
Cemig – CIG 8/14/26 10:00:00 ET
Managers: Company Sponsored | Streaming Link
Star Equity – STRR 8/14/26 10:00:00 ET
Managers: Company Sponsored | Call in Number: 833-890-6161 | International Call in Number: 412-504-9848 | Streaming Link
CSP Inc. – CSPI 8/14/26 10:00:00 ET
Managers: Company Sponsored | Call in Number: 888-506-0062 | Call in Code: 359648 | International Call in Number: 973-528-0011 | International Call in Code: 359648 | Streaming Link
Credicorp – BAP 8/14/26 10:30:00 ET
Managers: Company Sponsored | Call in Number: 844-435-0321 | International Call in Number: 412-317-5615 | Streaming Link
Braskem – BAK 8/14/26 10:30:00 ET
Managers: Company Sponsored | Streaming Link
Data Storage – DTST 8/14/26 11:00:00 ET
Managers: Company Sponsored | Call in Number: 877-407-9219 | International Call in Number: 412-652-1274 | Streaming Link
Positions: none
Good Morning!!
Greetings, gang. It’s Friday. CPI? Done. PPI? Done. Retail sales? On the way. Economic warfare? That’s a thing. OK, hit the deck. This morning we will do 25 four-count push-ups. On my command you will begin. Begin… One, two, three… one. One, two, three… two. You get it. You’re on your own to finish the set, or at least do what you can do. Everyone does something to get the blood circulating. Fear? Fear is but for the wicked, so let the wicked tremble before us.
It is I, Sarge. This is “day two” of this “other than for good reasons” filling in for Dougie who will be out again today. I will do my best to be Earl Morrall or Jeff Hostetler and still lead the team down the field even with the star QB on the sidelines. So, it is. So let it be. Good morning. God bless. We rock. Because it is who we are, and because our honor shall remain forever clean, we are always faithful. Say it with me. Always Faithful. Now, let it burn in.
Positions: none
That’s a Wrap
Another day, another record? Sort of.
The S&P 500 managed to set a new all-time intraday record high as well as an all-time record closing high. Why? Inflation, or the lack thereof.
For the month of July, headline PPI printed at +0.0% month over month versus the +0.2% consensus and at +4.7% year over year versus expectations for a +4.9% print. At the core (ex. food and energy), PPI hit the tape at +0.2% month over month versus +0.3% consensus and at +4.2% year over year, even with consensus about down from +4.7% in June.
As it now becomes all but impossible for the Fed to raise short-term rates any time soon, at least not backed by logic, the yield paid by the U.S. two-year Treasury note contracted by 5 BPS to 4.15%, and the yield on the U.S. 10-year note dropped 4 BPS to 4.65%. This pushed equities higher.
The benchmark S&P 500 closed +0.6%, as the Nasdaq Composite gained +0.8%. Eight of the 11 S&P sector SPDR ETFs closed in the green, led by Communication Services ($XLC). Materials ($XLB) led the losers.
Workday ($WDAY) led the S&P 500 higher on takeover rumors. It was the memory trade that ruled the day, though, as SanDisk ($SNDK), Micron ($MU) and Western Digital ($WDC) all had nice days. Cisco Systems ($CSCO) took a beating after posting disappointing guidance along with what looked, otherwise, to be a pretty decent earnings report.
Have a great evening, gang. Dougie will be out again tomorrow and, God willing, I will be back to work through the day with you all. Now, go get some grub and maybe work out a little. Sarge out.
Positions: Long SNDK, MU equity.