California lawmakers rejected Newsom’s proposal to shield utilities from wildfire lawsuits, and PG&E and Edison International immediately had their worst sessions in years.

Today’s edition covers those stories plus Tim Cook’s final day as Apple CEO, and every name that moved.

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Some Washington watchers believe Trump may move to correct that number.

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You’re looking at one optical technology stock after an extraordinary AI-fueled rerating and one major retailer after its worst single-day decline on record. Elite Trade Club Insider readers are seeing where the money moved next: two executives sold $43.2 million from the winner, while four directors collectively put $3.72 million of fresh capital into the beaten-down name.

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California lawmakers rejected Newsom's proposal to shield utilities from wildfire lawsuit liability — PG&E fell nearly 20% for its worst day since March 2020, and Edison International dropped more than 20% for its worst in over 25 years.

The FTC plans to sue Amazon for allegedly manipulating advertiser prices over seven years and collecting tens of billions in the process; the stock fell 3%.

US forces struck Iranian rocket launchers in the Strait of Hormuz Sunday, the first American strike in weeks, triggering a retaliatory attack on Jordan and pushing Brent back above $90.

Tim Cook steps down as Apple CEO tomorrow after 15 years and a 2,200% stock gain, handing the keys to hardware chief John Ternus. Warsh told G20 ministers the world has entered a "new period of secular growth" — the framing that anchors his case for keeping rates higher for longer.

Papa Johns launched its new Ultimate Pepperoni Pizza with 30% more pepperoni than its standard large pepperoni pizza, giving the chain another national menu launch as it works to drive traffic with familiar products rather than relying only on discounts and limited-time promotions.

The rollout puts a heavier emphasis on product abundance and ingredient quality, giving Papa John's a straightforward way to compete for pizza occasions as major restaurant chains continue fighting for value-conscious consumers without turning every promotion into a price cut.

Nike expanded its Strength Pro equipment line with a new Power Rack ecosystem built for professional teams, colleges, high schools and performance-training facilities, extending the company beyond apparel and footwear into a larger piece of the infrastructure athletes use every day.

U.S. Soccer, USC football, the Portland Thorns and Portland Fire are among the first organizations using customized versions, giving Nike another route into institutional sports spending while deepening its presence inside training facilities where equipment relationships can last far longer than individual product cycles.

Axsome Therapeutics dosed the first patient in its Phase 3 trial evaluating AXS-05 for smoking cessation, moving the already marketed depression treatment into a large new indication with roughly 34 million U.S. adults still smoking cigarettes.

The SUMMIT study will compare AXS-05 against bupropion and placebo over roughly 12 weeks, with smoking abstinence as the primary endpoint, giving Axsome another potential commercial use for a drug whose U.S. patent protection extends to at least 2043.

Eli Lilly agreed to acquire Merida Biosciences for up to $2.875 billion in cash, adding an antibody-engineering platform designed to remove disease-causing autoantibodies while preserving normal immune function and expanding Lilly’s pipeline beyond its dominant metabolic-drug franchise.

Merida’s lead program, MER511, is already in Phase 1 development for Graves’ disease and thyroid eye disease, while additional programs target allergies, asthma and kidney disorders, giving Lilly several shots at building a broader immunology portfolio from the acquisition.

Chevron is nearing final agreements in Venezuela after months of negotiations, with the U.S. oil major seeking an additional Orinoco Belt block that would expand one of its ventures with PDVSA and another area in northern Monagas that could supply diluents for extra-heavy crude production.

The agreements are expected to be significant in size and follow Venezuela’s amended hydrocarbon rules, which give foreign operators greater flexibility to develop fields, export crude and control sales proceeds as the country pushes for substantially higher long-term production.

GE Vernova is among companies preparing final Venezuela agreements as negotiations move toward new energy and electricity projects, placing the U.S. power-equipment company inside a broader effort to rebuild infrastructure alongside the country’s expanding oil production plans.

The prospective agreements are separate from Washington’s larger oil pact with Venezuela and give GE Vernova another international opening for generation and grid technology as the country works to support energy projects that can handle increased industrial activity.

Louis Navellier says his $9 million Stock Grader system is flashing its highest rating on one AI stock for 2026.

This company recently reported record annual revenue of $113.5 billion, earned an A-rating in his system, and is tied to a major AI expansion linked to Elon Musk’s “Project Apex.”

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Strategy bought 4,603 Bitcoin for roughly $369.7 million between August 24 and August 30, ending a two-month pause in purchases and returning to accumulation mode as Bitcoin remains central to its balance-sheet strategy.

The purchase strengthens Strategy’s position as the largest publicly traded corporate Bitcoin holder, showing that management is still willing to deploy substantial capital into the asset even after dramatically expanding its crypto exposure over the past several years.

BitMine Immersion Technologies acquired 53,501 Ethereum worth about $131 million during the final week of August, its largest weekly Ethereum purchase since June, lifting the company’s holdings to roughly 5.9 million ETH.

The latest purchase puts BitMine close to its stated goal of controlling 5% of Ethereum’s total supply, reinforcing an unusually concentrated treasury strategy that has made the company one of the largest corporate holders of the cryptocurrency.

Polar Power had its DC power system selected by MSI Defense Solutions for its EAGLS counter-drone and anti-missile platform, expanding the California manufacturer’s equipment into a defense system already deployed in the Middle East for automated threat detection, classification, and interception.

The integration gives Polar Power a foothold in military power infrastructure as it pursues additional applications across drone defense, robotics, unmanned vessels, and communications, where compact, reliable off-grid power systems are becoming increasingly important.

Curtiss-Wright secured $40 million in Leidos contracts to supply electromechanical actuation systems and mission computers for the U.S. Army’s Indirect Fire Protection Capability Increment 2 program, which is designed to detect and defeat cruise missiles, rockets, and unmanned aircraft.

The equipment will support mobile ground-based air-defense systems, including capabilities intended for the Defense of Guam, extending Curtiss-Wright’s role in military electronics and precision actuation across one of the Army’s priority counter-air programs.

Antelope Enterprise Holdings [AEHL] $6.49 (+83.33%)

Antelope Enterprise Holdings was down nearly 30% last Friday and is now up 78% today, running on 60x its average daily volume — a volume pattern that signals active institutional repositioning rather than thin-float mechanics alone.

The company produces consumer goods and industrial products across its China-based operations.

The magnitude of today’s reversal, combined with the abnormal volume, suggests a specific development in the company’s restructuring or capital positioning that reversed last week’s selling.

StablecoinX [USDE] $8.87 (+31.21%)

StablecoinX builds infrastructure for dollar-pegged digital assets and stablecoin services. After Bitcoin fell 3% on Friday as Warsh’s hawkish remarks firmed the dollar, Bitcoin has stabilized and crypto-adjacent names are catching back up.

When a digital asset platform demonstrates this kind of recurring week-over-week volume, the positioning is structural rather than speculative.

Ticketplus [TP] $10.25 (+30.91%)

Ticketplus operates a digital live-event ticketing platform across Asia-Pacific markets. The company has now appeared in the top movers list for the third time in two weeks as it builds commercial momentum from the sustained live entertainment recovery.

Friday’s 14% gain extended to a 30% session today as institutional interest deepens in a name that was largely off the radar six months ago. At $127.67 million in total value, the float is tight enough that each buying session produces outsized percentage moves.

Edison International [EIX] $53.98 (-23.04%)

Edison International owns Southern California Edison, the utility serving 15 million people across Southern California.

State lawmakers rejected Gov. Newsom’s proposal that would have prohibited insurers from suing utilities for wildfire damage — a shield that Edison has been counting on to manage its exposure from increasingly destructive California fire seasons.

Without that protection, the legal liability from a single large wildfire event could wipe out years of earnings. This is the worst session for the stock in more than 25 years.

Cumberland Pharmaceuticals [CPIX] $6.69 (-20.92%)

Cumberland Pharmaceuticals makes specialty branded drugs for the hospital and specialty pharmacy markets, including Vibativ for antibiotic-resistant infections and Caldolor for fever and pain.

The company reported Q2 results that fell short of expectations on revenue and operating margins, sending the stock down 20%.

When a specialty pharma company with limited pipeline optionality misses on its core branded products, the market doesn’t offer much patience.

Pacific Gas & Electric [PCG] $13.27 (-20.06%)

PG&E’s equipment caused the 2018 Camp Fire that killed 85 people and destroyed Paradise, California — and the company spent years in bankruptcy navigating the resulting liability.

The same legislative protection that just got rejected for the sector would have materially changed PG&E’s risk profile.

Without Newsom’s proposal, the company faces the prospect of repeating that cycle every time a wildfire touches equipment in its service territory. The stock fell 20% for its worst day since March 2020.

Marc Chaikin says one overlooked AI company could be hiding three separate high-growth businesses inside a single stock.

He believes those divisions could eventually be spun off, while current shareholders may also collect a dividend along the way.

Wall Street still treats it like one company. Chaikin thinks that could be a major mistake.

See the “dark horse” AI stock Chaikin says to own before September 4.

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