Eli Lilly agreed to buy AtaiBeckley for $2.8 billion, adding psychedelic medicine to its pipeline. Alphabet dropped more than 4% on a report that Gemini 3.5 Pro is months behind schedule.
Today’s edition has chip stocks, ManpowerGroup’s earnings explosion, and every move that mattered.
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A President Bought $10 Million Into Weakness While A Co-Founder Sold $27.4 Million Near The High
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Markets
TSMC beat Q2 handily but still dragged chip stocks lower after raising its capex forecast and warning that capacity expansion is running slower than AI demand requires — chip names broadly fell 4-7%. Alphabet slid nearly 5% after Bloomberg reported Gemini 3.5 Pro is months behind schedule.
Healthcare had its best session in weeks as major earnings beats across UnitedHealth and Abbott reminded the market that not everything runs on semiconductors. The Bank of Korea hiked for the first time in two years, and Dallas Fed's Logan called for modestly higher rates, extending a hawkish week from central bankers globally.
DJIA [-0.20%]
S&P 500 [-0.51%]
Nasdaq [-1.47%]
Russell 2000 [-0.05%]
Semiconductors & AI
Micron Locks In Automotive Chip Customers
Micron signed long-term agreements with Qualcomm, Harman, and major auto suppliers to provide memory and storage components for AI-enabled vehicles. Other customers included Denso, Visteon, JOYNEXT, Astemo, and Hyundai Mobis.
The agreements are designed to provide stable supply and pricing as automakers add advanced driver-assistance systems and digital cockpits. Micron said it has secured 16 strategic customer agreements across automotive, data centers, smartphones, computers, and robotics.
Nvidia Expands Its AI Push in Japan
Nvidia agreed to supply chips and computing infrastructure to Japan’s Noetra alliance, which is backed by companies including SoftBank, Sony, and Honda. The first deployment will support 140 megawatts of data-center capacity.
Nvidia also introduced two computing modules designed for robotics and autonomous systems. The T3000 and T2000 products extend its Thor architecture into physical AI as the company builds a larger presence in Japan.
Deals & Acquisitions
Uber Agrees to Buy Delivery Hero
Uber agreed to acquire Delivery Hero in a deal valued at about $15 billion, the largest acquisition in the company’s history. The purchase would add food-delivery operations across 50 markets and bring brands including foodpanda and HungerStation into Uber’s network.
The transaction would make Uber the largest food-delivery company outside China. It also expands the number of markets where Uber can offer both ride-hailing and delivery through the same platform.
Eli Lilly Moves Into Psychedelic Medicine
Eli Lilly agreed to acquire AtaiBeckley for up to $3.8 billion, moving the drugmaker into psychedelic treatments for serious mental-health conditions. The deal gives Lilly control of BPL-003, a nasal-spray therapy in late-stage development for treatment-resistant depression.
Lilly will pay $2.8 billion upfront, with another $1 billion tied to development and regulatory milestones. The acquisition expands its neuroscience pipeline beyond its diabetes and weight-loss medicines.
Energy & Fuel
Chevron Advances Iraq-to-Syria Pipeline Plan
Chevron entered advanced discussions to form a consortium that would build and revive pipelines carrying Iraqi oil through Syria to the Mediterranean. The proposed network could connect southern Iraqi fields with Kirkuk and Syria’s Baniyas port.
The project would give Iraq another export route after disruptions in the Strait of Hormuz sharply reduced its ability to move oil. Chevron must still complete feasibility studies, while damaged infrastructure and pipeline security remain major challenges.
Constellation Backs Nuclear Startup Blue Energy
Constellation Energy’s venture arm made its first investment in a U.S. nuclear developer advancing small modular reactors, backing Blue Energy and its prefabricated nuclear-power plants. The companies did not disclose the size of the investment.
Blue Energy is developing reactor projects designed to attract financing and reduce the difficulties associated with building nuclear plants. Constellation brings the experience of an established nuclear operator as the startup works to accelerate deployment across the United States.
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Healthcare & Medical
Merck Wins Approval for First Oral PCSK9 Drug
Merck secured FDA approval for Lipfendra, the first once-daily oral PCSK9 inhibitor designed to reduce LDL cholesterol. The pill lowered LDL levels by nearly 60% in clinical trials and offers an alternative to injectable treatments.
Merck plans to make Lipfendra available within weeks at a list price of $315 for a 30-day supply. The approval moves the company into a market currently served by injectable medicines from Amgen, Regeneron, and Sanofi.
Serum Institute Moves TB Vaccine Toward Production
Serum Institute partnered with Gates Medical Research Institute to manufacture the experimental M72/AS01E tuberculosis vaccine, which is undergoing late-stage testing. The company plans to invest more than $100 million in production capacity, while GSK will supply the vaccine’s immune-boosting adjuvant.
Gates MRI will transfer the manufacturing technology needed to prepare the vaccine for large-scale production. The agreement could accelerate deployment if the treatment becomes the first new tuberculosis vaccine approved in more than a century.
Aerospace & Manufacturing
Boeing Nears Approval for Two 737 MAX Models
Boeing moved closer to securing approval for a redesigned engine anti-ice system needed to launch the delayed 737 MAX 7 and MAX 10. The MAX 10 has completed about 98% of its certification flight testing.
Boeing has already built roughly 30 MAX 7 aircraft and nine MAX 10 aircraft that are awaiting delivery. Approval would clear the biggest remaining obstacle preventing both models from entering commercial service.
GE Aerospace Supports Boeing’s 787 Expansion
GE Aerospace increased GEnx engine shipments and positioned several months of supply at Boeing’s South Carolina plant. The additional inventory supports Boeing’s plan to raise monthly 787 Dreamliner production from about eight aircraft to 10.
GE engines power roughly 80% of the global 787 fleet, making the company central to Boeing’s production increase. The supply buildup also reduces concerns that engine availability could slow the manufacturing expansion.
Top Winners and Losers
AtaiBeckley [ATAI] $7.15 (+33.40%)
Eli Lilly agreed to pay $6.75 per share in cash plus up to $2.50 in contingent value rights for AtaiBeckley, an all-in valuation of up to $3.8 billion.
The lead asset, BPL-003 — a synthetic intranasal 5-MeO-DMT for treatment-resistant depression — is what Lilly is paying for. Goldman Sachs advised Lilly; Moelis and Centerview advised AtaiBeckley. The deal closes in Q3 2026 pending shareholder approval.
ManpowerGroup [MAN] $51.65 (+32.37%)
ManpowerGroup reported Q2 earnings above consensus on both EPS and revenue, and issued Q3 GAAP EPS guidance above the street estimate. The staffing and workforce solutions company had been under pressure as labor market softness weighed on the sector.
One strong quarter with a better-than-expected forward guide is enough to remind a market that had moved on. Buy rated at $2.4 billion.
Twin Vee PowerCats [VEEE] $36.18 (+36.07%)
Twin Vee is still running on the USFM merger deal announced Monday, with the stock continuing to price in what the combined company is worth as a public entity on NYSE American.
The deal privatizes Twin Vee’s marine business into a CVR Trust for shareholders while USFM takes the public listing. The market is still working out the math, and today the answer is up another 36%.
Nuvee Holding [NVVE] $8.38 (-61.13%)
Nuvee ran more than 500% across three sessions on the EV/vehicle-to-grid thesis from oil-price-driven demand acceleration.
Today, it gives back more than half of all those gains in a single session as momentum exhausts itself on a day when tech broadly sold off. The V2G thesis has not changed. The position sizes have.
Star Fashion Culture [STFS] $10.17 (-37.98%)
Star Fashion Culture has been oscillating between sharp gains and sharp losses over the past week on thin float momentum. Today is the reversal session.
The Chinese commercial services company at $12.14 million in market cap, moves on positioning rather than news, and today the positioning unwound.
Julong Holding [JLHL] $8.44 (-21.49%)
Julong is in its third down-cycle of the summer. The Chinese commercial services company has been running the same sprint-up, crash-down loop since June, and today is another entry in the crash column.
No new fundamental catalyst. The thin-float mechanics on the way down are as fast as they are on the way up.
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Everything Else
⚡ Small-cap breakouts often begin quietly, as subtle changes in volume, structure, and momentum start forming well before the move looks obvious.
📉 The S&P 500 and Nasdaq moved lower as chip stocks extended their losses and kept pressure on the broader technology sector.
🏦 Fed official Jeff Schmid warned against assuming today’s inflation pressures will fade quickly, reinforcing the case for caution on interest rates
🚀 SpaceX’s selloff is raising fresh concerns as the expiration of its IPO lockup period threatens to bring more shares onto the market.
💰 Apollo is targeting $20 billion in private credit investments in Mexico as it expands its presence across the country’s financing market.
🤖 A Chinese regulatory filing suggests DeepSeek is valued at roughly $52 billion, offering a rare look at the AI company’s estimated worth.
That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!
Thanks for reading. I'll see you at the next open!
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— Adam G.
Elite Trade Club
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