More on The Weave

I covered my $CRWV short between $62 AND $63 on Sunday night – as reported.  

Positions: None.

Upside, Downside Movers in the Morning

Upside

– $RAPP +26% (Phase 2 RAP-219 trial met the primary and secondary endpoints in bipolar mania)

– $MSCI +5.9% (Q3 earnings and revenue topped expectations)

– $EFX +5.5% (sharply positive initial reaction to Q3 results released before the bell)

– $HTZ +5.0% (Oro Mobility secured an $80 million strategic equity investment to accelerate its standalone growth)

– $HAL +4.4% (Q3 earnings and revenue beat expectations)

– $SNY +2.4% (no clear fresh catalyst identified; unusually strong, liquid ADR move)

– $APA +1.9%, $XOM +1.2%, $CVX +1.4%, $COP +1.5%, $OXY +1.6%, $SLB +1.4% (energy names rise as crude jumps on renewed Middle East supply risks)

– $VICR +1.7% (Q3 product and royalty revenue surged and gross margin expanded sharply)

Downside

– $GM -7.6% (Q3 beat, but the full-year profit range was narrowed with the upper end cut, disappointing expectations for another guidance raise)

– $GPC -6.3% (quarter narrowly beat, but the full-year earnings range was narrowed and its upper end cut)

– $STLD -5.4% (Q3 profit missed consensus and fell below the company’s own guidance despite a revenue beat)

– $AAOI -4.6%, SKHY -4.8%, COHR -3.5%, SNDK -3.2%, MU -2.7%, LITE -2.7% (AI hardware, memory and optical names fall as renewed bubble concerns and a weak Korean AI listing pressure the trade)

– $CCK -4.3% (Q3 reaction turns negative as rising input costs offset strong beverage-can volume growth)

– $CRWV -3.9%, NBIS -4.4%, IREN -4.3% (debt-heavy AI-infrastructure names fall as borrowing-cost and funding concerns deepen)

– $GE -3.6% (Q3 beat and the outlook was raised, but shares slip in a high-expectations sell-the-news reaction)

– $BHP -3.0% (quarterly copper production fell 19% on lower grades, maintenance and operational disruptions)

– $AAPL -1.4% (Loop Capital downgrades to Hold from Buy and cuts its target on weaker iPhone shipment expectations)

Tech Bounces Back but Rising Yields Pressure Non-Tech

The megacap growth sectors went from worst (Friday) to first (Monday) as chipmakers snapped an eight-session losing streak, but rising Treasury yields left seven sectors, the Dow Jones Industrial Average, and the equal-weight S&P 500 lower.

Select Upside, Downside Movers in the Morning

Upside

– $IRON +52% (Phase 3 APOLLO trial met all primary and secondary endpoints in erythropoietic protoporphyria)

– $AAME +41% (long-delayed 2025 annual report was filed, showing a return to annual profitability)

– $XLAB +24% (extends rally after securing an $8.2M AI-server order)

– $TCRT +20% (extends volatile rally tied to a proposed acquisition and financing of up to $350M)

– $MEDS +15% (extends rally after outlining peptide-compounding expansion and licensing a direct-to-consumer GLP-1 platform)

– $CLF +11% (Q3 profit and EBITDA beat expectations, Q4 EBITDA was guided higher and 2027 EBITDA is expected to exceed $4B)

– $NBIS +7.5%, $CRWV +7.7%, $BE +5.2%, $SMCI +4.1%, $IREN +5.9% (AI-infrastructure names rebound from last week’s financing-driven selloff as Treasury yields ease)

– $CRDO +4.7%, $TER +5.1%, $LRCX +4.6%, $AMD +3.7%, $MU +3.7%, $AVGO +3.1% (chip names rebound from last week’s AI-led selloff ahead of key sector earnings)

– $INTC +4.3% (JPMorgan upgrades to Neutral from Underweight as confidence in the turnaround improves)

– $VAI +4.0% (agrees to acquire an 18MW Ohio computing center)

– $DDOG +3.9% (Bernstein upgrades to Outperform and sharply raises its price target on stronger AI-consumption trends)

Downside

– $ACTU -9.1% (files to sell 40M shares with 20M warrants)

Tech Selloff Deepens as Market Rotation Continues

Another selloff in AI names broadened to encompass most of Tech, sending the Nasdaq-100 to its worst week since April 2025. Five sectors though would finish the week up 2% or more, as 30-year Treasury yields fell the most since April 2025.