Notes
WEDBUSH’S DAN IVES RELEASED THE “IVES AI 30,” FEATURING TOP AI PLAYS:
🔸 Hyperscalers: $MSFT, $GOOGL, $AMZN, $ORCL
🔸 Software: $PLTR, $CRM, $IBM, $NOW, $SNOW, $PEGA, $MDB, $SOUN, $INOD
🔸 Consumer Internet: $BABA, $AAPL, $META, $BIDU, $RBLX
🔸 Cybersecurity: $PANW, $ZS, $CRWD
🔸 Autonomous/Robotics & Power: $TSLA, $OKLO, $GEV
🔸 Semiconductors/Hardware: $NVDA, $AMD, $TSM, $AVGO, $MU, $NBIS
QUICK MARKET SUMMARY:
Consumer
🔸 Carvana ( $CVNA) upgraded to Overweight at Morgan Stanley; PT raised to $280 from $260.
🔸 Cintas ( $CTAS) ended talks to buy UniFirst (UNF) for $275/share.
🔸 KB Home ( $KBH) Q1 miss: revenue down 5%, net income down 21%, lowers FY25 outlook; appoints Robert Dillard as CFO.
🔸 McCormick ( $MKC) Q1 EPS $0.60 (vs. $0.64 est.), reaffirms FY25 guidance.
🔸 Smithfield Foods sees higher annual sales and profit.
🔸 Tesla ( $TSLA) European market share down sharply; YTD sales -42.6%.
Energy, Industrials & Materials
🔸 American Electric ( $AEP) announces $2B stock offering.
🔸 Bunge ( $BG) selling European margarine business to Vandemoortele.
🔸 Canadian Solar ( $CSIQ) Q4 EPS loss (-$1.47) vs. (-$0.24) est.; record storage shipments.
🔸 Enerpac ( $EPAC) Q2 EPS $0.38 (vs. $0.40 est.), maintains guidance.
🔸 EOG Resources ( $EOG) downgraded to Neutral at Mizuho; PT cut to $140.
🔸 Oklo ( $OKLO) FY24 EPS loss (-$0.74); first Aurora deployment expected late 2027.
🔸 Parsons ( $PSN) approves $250M share buyback.
🔸 TechnipFMC ( $FTI) wins $500M–$1B EPC contract from Equinor.
Healthcare
🔸 Aura Biosciences ( $AURA) FY loss ($96M); cash runway into 2H26.
🔸 Beyond Air ( $XAIR) secures $2M for autism therapy development.
🔸 Merck ( $MRK) signs $200M licensing deal for Lp(a) inhibitor, potential $1.77B in milestones.
🔸 Neurogene ( $NGNE) FY loss ($82.6M); files $300M shelf offering; cash runway into 2H27.
Tech, Media & Telecom
🔸 Alibaba ( $BABA) to restart hiring; Chairman Tsai warns of potential AI bubble.
🔸 Cloudflare ( $NET) double-upgraded to Buy at BofA; PT raised to $160.
🔸 India plans to scrap 6% digital ad tax, easing pressure on U.S. tech firms.
🔸 Crown Castle ( $CCI) appoints interim CEO Daniel Schlanger; reaffirms guidance.
🔸 Volkswagen ( $cVOWGY) partners with Valeo and Mobileye for advanced driver-assistance systems.
