One platform is pushing autonomous rides closer to commercial reality. One AI data center name just signed another major long-term lease that adds hard revenue visibility, while one consumer staple is dealing with a notable but modest holder trim. We’ll separate the real growth catalysts from the stock that still needs margin proof.
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Futures at a Glance📈
Futures are pushing higher as chip stocks keep clawing back last week’s losses. Nasdaq names are leading again, with Asia joining the rebound after South Korea’s sharp bounce overnight. Traders are also getting a geopolitical assist after Trump said an Iran deal could come within days, with the Strait of Hormuz reopening immediately if talks hold.
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What to Watch
Earnings (Premarket):
• The J.M. Smucker Company [SJM]
• SailPoint, Inc. [SAIL]
• Uranium Energy Corp. [UEC]
• United Natural Foods, Inc. [UNFI]
• Academy Sports and Outdoors, Inc. [ASO]
Earnings (Aftermarket):
• Casey’s General Stores, Inc. [CASY]
• Cracker Barrel Old Country Store, Inc. [CBRL]
Economic Reports:
• NFIB Index of Small Business Optimism (May): 6:00 am
• Monthly Wholesale Trade (Apr.): 10:00 am
• Existing Home Sales (May): 10:00 am
Elite Trade Club Insider
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Mobility
Uber Technologies Is Moving Robotaxis From Strategy Slide to Real-World Test
Uber Technologies Inc (NYSE: UBER) is getting closer to launching autonomous rides in London through its partnership with British AI startup Wayve. Users can now sign up for a chance to ride in London’s first robotaxis once regulators approve the service, which Uber expects in the coming months. The vehicles will initially include trained safety operators behind the wheel.
This matters because robotaxis are no longer just a long-term concept for Uber. The company has already made autonomous mobility a strategic priority, and London gives it a high-profile European test market.
That is important because Europe has been slower than the U.S. and China to roll out robotaxis due to regulation and more complicated street layouts. If Uber and Wayve can make the model work in London, the credibility of Uber’s autonomous strategy improves.
There is also an efficiency angle. Uber recently cut 23% of its people division, though management said the cuts were not driven by AI. The company is trying to streamline operations while managing fast-rising spending on agentic AI tools. That combination tells investors Uber is serious about automation, but also disciplined enough to manage costs.
My Take For You: Uber’s robotaxi rollout gives the stock a clearer long-term automation catalyst, while the cost cuts show management is tightening the organization for the next phase.
My Verdict: Buy this. The risk is that regulators slow the London launch or autonomous rides take longer than expected to scale beyond pilots.
AI Infrastructure
Applied Digital Just Added Another Big Contracted AI Data Center Win
Applied Digital Corp (NASDAQ: APLD) is moving higher after announcing another major long-term AI data center lease. The company signed a 15-year take-or-pay lease for 210 MW of capacity at its Delta Forge 2 campus with a U.S.-based high investment-grade hyperscaler. The deal represents about $5.2 billion in base-term contracted revenue, or roughly $12.7 billion if all renewal options are exercised over a 30-year total term.
This is Applied Digital’s third long-term lease with the same hyperscaler and its fifth AI Factory campus overall.
The company now has roughly $36 billion in base-term contracted lease revenue across five campuses, or $86 billion including all renewal options. Contracted capacity now spans 1.4 GW of critical IT load and about 2.15 GW of grid-connected utility power.
The market likes this because it turns the AI data center story into hard contracted revenue. Applied Digital is not just talking about AI infrastructure demand. It is signing long-term agreements with investment-grade hyperscalers and building campuses designed for large-scale AI training and inference.
The stock is already up more than 200% over the past year, so execution risk is high, but the contracted backlog keeps getting more impressive.
My Take For You: Applied Digital keeps adding real hyperscaler demand to its AI Factory model. This is one of the clearer small-to-mid-cap infrastructure stories in the AI buildout.
My Verdict: Buy this. The risk is that financing, construction delays, or power availability slow the conversion of contracted revenue into actual cash flow.
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Consumer Staples
Hershey Has a Trust Sale, but This Looks More Like a Trim Than a Thesis Break
Hershey Co (NYSE: HSY) is under watch after Hershey Trust Company, trustee for the Milton Hershey School, reported open-market sales of 20,000 shares. The sales took place on June 4 and 5 at weighted average prices between roughly $180.22 and $187.47 per share. On the surface, a sale from a major holder always gets attention.
But the context matters. After the transactions, the Trust still held about 1.49 million common shares directly, another 39,630 indirectly, and more than 54.6 million Class B shares convertible into common stock.
That means this was a modest trim, not a major exit. The filing sentiment is negative, but the scale does not suggest a meaningful change in long-term ownership alignment.
The stock itself is still a defensive consumer-staples name with a dividend yield near 3.3%, but the valuation is not cheap at roughly 33x earnings. Hershey is also still working through cocoa-cost pressure and slower growth concerns.
The insider sale adds noise, but it does not change the core issue: investors need better evidence that margins and demand are stabilizing.
My Take For You: Hershey’s Trust sale is worth noting, but it is not large enough to treat as a broken signal. The bigger question is whether the company can protect margins in a tougher cost environment.
My Verdict: Hold this. The risk is that more insider selling or continued margin pressure turns a modest trim into a bigger confidence issue.
Trivia: The Great Depression-era stock market crash was far more devastating than anything most modern investors have experienced. From peak to trough between 1929 and 1932, the Dow Jones fell by approximately what percentage?
Movers and Shakers
Vishay Intertechnology [VSH]: Premarket Move: +8%
Vishay is moving higher as investors keep rewarding its AI power-management story. Q1 revenue rose 17.3% to $839 million, backlog jumped 21% to $1.6 billion, and book-to-bill hit 1.34, showing demand is still running ahead of supply.
This is not just an AI story either. EVs, industrial automation, and defense spending are all adding fuel.
My Take: Stay long. Vishay still looks reasonably valued versus other AI-adjacent chip names, and the order momentum is real.
MKS Instruments [MKSI]: Premarket Move: +6%
MKS is pushing higher despite a $767,000 insider sale from its chief accounting officer. The sale was under a 10b5-1 plan, so investors are looking past it and focusing on stronger fundamentals.
Q1 EPS beat at $2.30 versus $2.04 expected, revenue topped estimates at $1.08 billion, and Mizuho raised its target to $400 on AI-driven wafer fab growth.
My Take: Hold it, but do not chase. MKS is still working, but after a 240% one-year run, new money needs a cleaner entry.
IDEAYA Biosciences [IDYA]: Premarket Move: -10%
IDEAYA is dropping after announcing plans for a $300 million public offering of stock and warrants, with underwriters getting an option for another $45 million. That means dilution, and biotech investors rarely reward dilution after a strong move.
The pipeline still has value, but today’s trade is about share count, not science.
My Take: Wait. Do not buy the first dip on a financing headline. Let the offering price set the floor first and then you can pounce.
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Everything Else
🤖 AI stock rankings are gaining traction, as investors look for hedge-fund-style research built from filings, fundamentals, catalysts, and momentum without the Wall Street overhead.
🛢️ Iraq and the UAE are getting fresh attention as investors look for oil routes that can bypass Hormuz if regional tensions escalate.
🚢 China’s trade machine is facing another stress test as exports and imports run into war-driven uncertainty.
🔎 Perplexity is already talking about a 2028 IPO as the next wave of AI listings starts to take shape.
🇨🇳 The Pentagon added more Chinese tech giants to its military-linked list, putting another chill into U.S.-China business ties.
💻 Cursor picked London for its European hub, giving the AI coding startup a bigger global footprint.
That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.
Best Regards,
— Adam Garcia
Elite Trade Club
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