The Treasury’s bond buyback came in smaller than expected, and yields jumped to their highest since 2023. Apple unveiled a foldable iPhone led by new CEO John Ternus.

Today’s edition has the rate surge story, the biggest movers, and everything worth knowing.

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The Treasury's $6 billion bond buyback came in around expectations but well short of the speculation that Bessent might swing even bigger — the 10-year yield hit its highest level since 2023 before a strong auction pulled it back off the highs.

Apple unveiled the iPhone Duo at $1,999: a foldable that fits in a pocket, runs two apps at once, and marks the first time Ternus has stood on an Apple stage as CEO with something new to show for it. 

Brent crude crossed $100 for the first time since July after the US destroyed four Iranian oil tankers in the Gulf of Oman.

Oracle reports Thursday, the most financially stretched of the hyperscalers, and investors want to know whether AI spending is "pedal to the metal" or quietly being reconsidered.

Robinhood's CEO defended tokenized stocks after AMC's CEO took a public shot; Hunter Biden's meme coin launched on Base and lost 95% of its value within hours.

Dell Technologies opened a $4 billion bond sale to refinance near-term debt and strengthen liquidity as demand for AI servers expands, according to preliminary prospectus documents filed with the SEC on Wednesday.

The offering covers four series of senior unsecured notes, with proceeds directed toward debt repayment and general corporate purposes, giving Dell additional room to fund infrastructure growth while managing the heavier capital demands tied to its AI hardware push.

Fastly raised its full-year revenue outlook to $732 million to $746 million after management presented at Citi’s 2026 Global TMT Conference, pointing to roughly 18% growth and stronger momentum in security and compute.

The edge-cloud company also scheduled a September 22 investor day, where executives plan to outline product priorities and longer-term targets, making the next phase about turning newer services into a broader growth engine beyond its core content-delivery network.

RxSight outlined a commercial reset at Wells Fargo, with new CEO Aziz Mottiwala saying the company will focus on increasing usage among roughly 3,000 existing surgeons instead of chasing account growth.

Management also highlighted its Alcon partnership, which includes $200 million in upfront payments and a 30% royalty on future sales, while reallocating resources to double the U.S. sales force and drive broader adoption of its Light Adjustable Lens based on strong clinical feedback.

Evommune suffered a setback in its lead dermatitis program, as EVO756 failed to meet the primary and secondary endpoints in a 121-patient Phase 2b trial, prompting the company to stop advancing the drug for atopic dermatitis.

Attention now shifts to its migraine program, with another Phase 2b study on track for 2027 and a separate EVO301 dermatitis program planned after Phase 2a data, leaving Evommune’s pipeline dependent on programs still earlier in development.

GE Aerospace agreed to pay $12 billion for CPP to secure a major supplier of precision castings used in jet-engine turbine blades, addressing one of aerospace’s longest-running production bottlenecks.

CPP supplies roughly a quarter of GE’s casting needs, giving the company more control over capacity, technology and delivery schedules as aerospace manufacturers work through order books stretching seven to ten years.

Baker Hughes raised its 2026 revenue and EBITDA forecasts after completing its $13.6 billion acquisition of Chart Industries, with CEO Lorenzo Simonelli also pointing to improving visibility for LNG equipment orders heading into 2027.

Revenue guidance now stands at $28.5 billion to $30.3 billion, up from $26.65 billion to $28.05 billion, while adjusted EBITDA is projected at $4.88 billion to $5.48 billion as Chart’s contribution begins showing up in results.

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Academy Sports + Outdoors delivered a stronger-than-expected second-quarter profit result, with adjusted earnings of $2.31 a share beating the $2.09 estimate and shares rising 7.6% in premarket trading.

Sales rose 3% to $1.65 billion, while comparable sales slipped 0.4%; gross margin widened to 40.4%, and management lifted full-year adjusted EPS guidance to $6.05 to $6.45.

Caleres beat Wall Street’s second-quarter earnings estimates, posting adjusted EPS of $0.47 versus $0.3767 expected even as revenue reached $695.45 million, below the $705.67 million forecast.

Brand-portfolio sales grew 8.2% organically, and gross margin expanded 340 basis points, while management raised fiscal 2026 adjusted EPS guidance to $1.50 to $1.65 despite continued pressure at Famous Footwear.

MGP Ingredients launched its first namesake bourbon brand, taking a company long known for distilling whiskey for other labels and bringing it directly to consumers, while reviving the MGP Distillery name at its Lawrenceburg, Indiana operation.

The limited-edition MGP Chapter One is a 10-year-old, 111-proof straight bourbon priced at $69.99, with nationwide availability planned for the fall, giving the Nasdaq-listed distiller a premium consumer product alongside contract production and brands such as Penelope, Remus and Yellowstone.

Starbucks is rebuilding its coffeehouse model under Niccol, with store improvements, faster service and heavier staffing helping reverse three consecutive quarters of falling comparable sales when he took over in 2024.

Management has spent hundreds of millions on labor and store upgrades while reorganizing China through its Boyu Capital joint venture, creating a structure designed to convert stronger customer traffic into better margins without relying on a fresh earnings report.

Opus Genetics [IRD] $5.73 (+32.03%)

Opus Genetics announced 3-month and 6-month results from the low-dose Cohort 1 of its BIRD-1 Phase 1/2 trial, evaluating OPGx-BEST1 — a gene therapy for BEST1-related retinal diseases including Best vitelliform macular dystrophy.

The data showed clinically meaningful improvements in visual function at both time points, providing the first human proof that the gene therapy is working as designed.

ODDITY Tech [ODD] $16.48 (+26.53%)

ODDITY Tech runs AI-powered direct-to-consumer beauty brands, Il Makiage and Spoiled Child, built on proprietary skin and hair analysis algorithms that personalize product recommendations at scale.

Q2 results beat revenue and adjusted EBITDA estimates, demonstrating that its AI-first approach to beauty commerce is delivering customer lifetime value that justifies premium pricing.

The stock’s Sell rating tells you the short interest is high, which means a clean beat becomes a short squeeze. Which is exactly what today was.

Ribbon Acquisition [RIBB] $13.69 (+25.71%)

Ribbon Acquisition Corp. is a SPAC positioned around a deal in the financial services sector. The 36% gain reflects active deal positioning as investors build around an announced combination that is tracking toward completion.

At $93.01 million in total value, concentrated buying produces outsized percentage moves when the float is this tight.

ServiceTitan [TTAN] $57.12 (-29.98%)

ServiceTitan runs the operating system for home services businesses — the platform that dispatches plumbers, tracks HVAC jobs, processes payments, and manages customer records for 10,000+ contractors.

Q2 revenue of $292.8 million beat estimates by 2%, and EPS of $0.40 cleared the $0.35 consensus, but Q3 guidance of $285-287 million came in below the $288 million consensus, and gross transaction volume growth decelerated by 200 basis points.

In a $5.45 billion company, a guidance miss of $1-3 million doesn’t stay small.

Greenpro Capital [GRNQ] $13.23 (-29.63%)

Greenpro Capital was up 30% Tuesday and is down 29% Wednesday — the fourth time this summer a small-cap financial services name has appeared on back-to-back winner and loser lists.

The company provides cloud accounting and advisory services to SMEs across Southeast Asia, and the price action in both directions reflects positioning mechanics in a name with limited institutional coverage rather than fundamental news in either session.

Lexaria Bioscience [LEXX] $6.60 (-29.56%)

Lexaria was down 33% Tuesday and down another 29% Wednesday, bringing the two-day total to roughly -53%. The DehydraTECH drug delivery platform company has no specific negative catalyst confirmed across either session.

This is a sustained unwinding of August’s positioning run, and the lack of a single defined seller floor means each session’s opening price becomes the starting point for the next round of exits.

A well-known ratings firm just flagged a government retirement issue most investors haven't heard about yet.

Weiss Ratings has a track record of early warnings, including several major financial shifts over the past few decades.

Their research team put together a short briefing on what they're calling "Project Pyramid" and what it could mean for retirement accounts.

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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! 

Best Regards,
— Adam G.
Elite Trade Club

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