Nobody expected the so-called “old guard” to outshine the cool kids, but a tidal wave of new cloud orders just made that happen. You might want to pile in before the ink is dry.
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Futures at a Glance📈
Traders are really just holding their breath for today’s inflation print. Green now, but one hot number could flip the vibe fast.
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What to Watch
Premarket Earnings:
Chewy Inc. [CHWY]
Daktronics Inc. [DAKT]
Tsakos Energy Navigation Ltd [TEN]
Aftermarket Earnings:
Alliance Entertainment Holding Corp. [AENT]
Oxford Industries Inc. [OXM]
Lesaka Technologies Inc. [LSAK]
Economic Reports:
Producer Price Index [Aug.]: 8:30 am
Core PPI [Aug.]: 8:30 am
PPI year over year [Aug.]: 8:30 am
Core PPI year over year [Aug.]: 8:30 am
Wholesale Inventories [July]: 10:00 am
Retail
GameStop Pulls a Surprise Combo Move
GameStop finally remembered how to level up. After seven quarters of revenue declines, the meme stock OG posted a 22% sales jump in Q2, proving it’s not completely stuck in “Game Over” mode.
Hardware sales popped 31% thanks to the Nintendo Switch 2 craze, while the collectibles business, trading cards, figurines, and gamer merch, ripped 63%. That side hustle is starting to look like a main quest.
The company also dropped a special dividend in the form of warrants. For every 10 shares you hold, you can scoop up another at $32 anytime between October 2025 and late 2026. That means Wall Street gets optionality, retail gets another excuse to chant “diamond hands.”
Add $8.7B in cash and half a billion dollars’ worth of Bitcoin, and the balance sheet has meme-worthy firepower.
Why it Matters: GameStop is evolving. It’s shuttering physical stores while leaning into digital and collectibles, a more resilient model if management executes.
Investor Takeaway: The stock has been left behind in the latest meme rally, but this quarter gave it a new storyline. The warrants will keep chatter buzzing, but fundamentals still matter. If you’re trading it, ride the hype waves. If you’re investing, patience is key while they prove this reboot can stick.
Semiconductors
Qualcomm Wants to Drive You Around
Qualcomm, best known for powering smartphones, just took a big swing into autos with BMW. Their new Snapdragon Ride Pilot isn’t full robo-taxi mode, but it offers legit hands-free driving and lane-changing.
It will debut in the BMW iX3 and roll out to 100 countries by 2026. Think of it as driver-assist with swagger, enough tech to make a car feel futuristic, without putting your life entirely in the hands of an algorithm.
The real flex is that this isn’t an exclusive. Qualcomm designed the system for any carmaker to license. CEO Cristiano Amon told CNBC he expects a “domino effect” once other automakers see it on the road.
For a company that pulled in $1B from autos last quarter (up 21% y/y), that domino chain could build into billions more.
Why it Matters: Qualcomm’s phone chip dominance is steady, but growth is capped. Autos are one of the company’s fastest-growing verticals, and this deal could mark the turning point. They’re building not just chips, but full car brains with infotainment, driver-assist, and AI copilots.
Investor Takeaway: Qualcomm’s pivot is smart diversification. If automakers adopt en masse, revenue compounding could be big. For now, the stock hangs in the $150–$160 range, but this could be the engine for its next breakout run.
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Cloud Software
Oracle Isn’t Just the Old Guard Anymore
Oracle shocked investors by saying its cloud backlog is about to top half a trillion dollars. Yes, trillion. Remaining performance obligations jumped 359% to $455B in Q1, and CEO Safra Catz said more mega-deals are in the pipeline. Shares ripped 27% after hours on the news, proving that even “old-school” tech can still bring fireworks.
The secret sauce: Oracle Cloud Infrastructure is cheap and flexible. Big enterprises may love AWS or Azure, but Oracle undercuts them on cost while bundling AI tools. Even better, Oracle isn’t fighting the hyperscalers, it’s teaming up.
Amazon, Google, and Microsoft now run OCI inside their clouds, and revenue from those partnerships jumped more than 1,500% in Q1. That’s co-op mode at trillion-dollar scale.
Why it Matters: AI workloads are exploding, and enterprises are desperate for affordable compute. Oracle positioned itself as the “value play” in AI infrastructure while expanding with 37 more datacenters for its big three partners. Larry Ellison basically wants to make Oracle indispensable in every multi-cloud strategy.
Investor Takeaway: This isn’t your dad’s Oracle. The shift from sleepy database vendor to AI/cloud heavyweight is real. The stock is up 45% this year, and if the half-trillion backlog materializes, the upside runway gets a lot longer.
Movers and Shakers
Bloom Energy [BE]: Premarket Move: +8%
Hydrogen-fueled vibes are back. A string of fresh target bumps and a clean beat have bulls treating Bloom like a comeback kid, even if the Street’s average target is still miles below today’s print.
Momentum money doesn’t care, as fuel cells are a narrative, and the tape says “onward.” Worth noting that insider sales popped up into strength, which can turn a sprint into a jog if the mood changes.
One more thing: valuation’s nosebleed, and this crowd rotates fast.
My Take: Fun to trade, tough to get involved long-term. Ride strength above recent highs and keep stops tight; if it cools toward the low-50s on light volume, that’s the better add.
CoreWeave [CRWV]: Premarket Move: +8%
New ventures arm = checks + compute-for-equity + early access to clusters. That’s how you seed an AI ecosystem and keep workloads in-house. The story still swings wildly (lockup overhangs, insider sells), but gross margins are stout and revenue ramps remain the bull chant.
Deals plus M&A (hello, RL tools) keep the flywheel spinning, so execution is the only grown-up in the room.
My Take: Momentum with catalysts plays well into $110–$120 if flows stay hot. I’d chase breakouts on volume, then respect any air pocket, as this one doesn’t do gentle pullbacks.
Synopsys [SNPS]: Premarket Move: −23%
Even A-plus franchises get graded on a curve. A miss, softer IP, and integration headaches are enough to yank multiple for the EDA king, and premarket looks like a full-on rerate. The secular AI/design runway hasn’t vanished, the market just reset the price of admission.
Watch how fast buyers defend the mid-$400s and whether $500 gets reclaimed, as those will tell you if this is panic or policy.
My Take: Great business, messy tape. I’d let it base before sizing up; if you must nibble, scale in and give it room. Knife-catching is optional, not mandatory.
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The Fed is uncertain.
The Trade War is rattling markets.
Retail investors are panicking, but smart money is moving in.
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Staples – 18 household brands, 54-year dividend streak, sales up 19%.
Healthcare – Telehealth disruptor with 2,300+ hospital partners, 3x revenue growth.
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Everything Else
Morningstar rolled out a new PitchBook index that blends public and private assets, basically letting investors have their cake and eat the unicorns too.
Wegovy-maker Novo Nordisk is cutting ~9,000 jobs, proving even weight-loss giants have to trim a little fat.
Meta and TikTok beat the EU in court over new tech fees, forcing regulators back to the spreadsheet.
Apple’s rumored “iPhone Air” could finally give your pocket a break, if not your wallet.
Ferrari just dropped a new Testarossa hybrid, evoking 1980s Miami vibes, neon optional, midlife crisis sold separately.
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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