Constellation Energy, SpaceX Deal and Micron Target Lift a Week of Big Moves

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4▲6 ▼4Impact / 5
Summary · why it matters

Wall Street ended the week higher, with the Dow up 0.9%, the S&P 500 up 1.2% and the Nasdaq Composite up 0.6%, as investors weighed a hawkish Federal Reserve outlook, a major SpaceX deal and renewed scrutiny of AI revenue expectations. Constellation Energy shares surged about 12% on Tuesday after Google agreed to purchase 3,590 megawatts of power, including a 20-year agreement for 890 MW of new nuclear power and support for more than $4.3 billion in investment to upgrade Constellation's existing reactors. SpaceX's $8 billion deal to buy a nationwide low-band spectrum portfolio from Grain Management sparked a telecom selloff, with AT&T down almost 11% on Friday, Verizon down almost 10%, T-Mobile down more than 13% and AST SpaceMobile down more than 10%. Humana shares jumped nearly 12% on Friday after the insurer said 95% of its Medicare Advantage members would be enrolled in plans rated four stars or higher for 2027, closing at $431.87, up $44.75. DA Davidson lifted its Micron price target to $3000 from $2100, implying about 195% upside, while Rivian produced 19,751 vehicles and delivered 19,248 in the third quarter, reaffirming guidance to deliver 65,000 to 70,000 vehicles in 2026. Samsung Electronics expects quarterly operating profit to surge nearly nine-fold year over year to a record 107.4 trillion won, or $80.1 billion, below the average analyst estimate, and TSMC reported record third-quarter revenue of NT$1.49 trillion, or $46.71 billion, up 50% year over year on AI demand. PepsiCo posted organic sales up 3.1% and core EPS up 2% to $2.34, topping consensus by $0.04, and guided to full-year organic revenue up 3% and core constant currency EPS up 2.5% to 3.5%. Chipotle Mexican Grill rose over 6% after the Financial Times reported that Starbucks has explored a takeover of the chain.

Impact on assets 18

Cloud & Digital Infrastructure▼
AT&T Inc.
T
▼ NegativeCompetitionrelevance

AT&T fell almost 11% Friday as SpaceX's $8 billion low-band spectrum deal with Grain Management sparked a telecom selloff.

T-Mobile US Inc
TMUS
▼ NegativeCompetitionrelevance

T-Mobile dropped more than 13% amid the telecom selloff triggered by SpaceX's $8 billion spectrum purchase.

Verizon Communications Inc
VZ
▼ NegativeCompetitionrelevance

Verizon fell almost 10% Friday as SpaceX's spectrum deal sparked a broad telecom selloff.

Semiconductors▲
Micron Technology Inc
MU
▲ PositiveCapitalrelevance

DA Davidson lifted its Micron price target to $3000 from $2100, implying about 195% upside.

Artificial Intelligence▲
Samsung Electronics Co Ltd
005930
± MixedCapitalrelevance

Samsung expects record quarterly operating profit up nearly nine-fold to 107.4T won, but it came in below analyst estimates.

Space Economy▼
Ast Spacemobile Inc
ASTS
▼ NegativeCompetitionrelevance

AST SpaceMobile fell over 10% as SpaceX's $8B spectrum deal sparked a telecom selloff, signaling intensified satellite/telecom competition.

Consumer Discretionary▲
Chipotle Mexican Grill Inc
CMG
▲ PositiveCompetitionrelevance

Chipotle rose over 6% after the FT reported Starbucks explored a takeover of the burrito chain, a competitive/M&A development for Chipotle.

Starbucks Corporation
SBUX
± MixedCompetitionrelevance

Starbucks reportedly explored a takeover of Chipotle, a strategic move whose impact on Starbucks is unclear.

Energy Transition & Power Demand▲
Constellation Energy Corp
CEG
▲ PositiveDemandrelevance

Google agreed to buy 3,590 MW of power from Constellation, including a 20-year 890 MW nuclear deal and $4.3B reactor upgrade investment.

Aging Population▲
Humana Inc
HUM
▲ PositiveRegulationrelevance

Humana said 95% of its Medicare Advantage members will be in plans rated four stars or higher for 2027, a key quality-rating milestone.

Consumer Staples▲
PepsiCo Inc
PEP
▲ PositiveCapitalrelevance

PepsiCo posted organic sales up 3.1% and core EPS up 2% to $2.34, beating consensus, with upbeat full-year guidance.

Electrification & Mobility▲
Rivian Automotive Inc
RIVN
± MixedDemandrelevance

Rivian produced 19,751 and delivered 19,248 vehicles in Q3, reaffirming 2026 delivery guidance of 65,000-70,000.

Defense & Geopolitical Fragmentation▲
Industrials▲

Off-coverage companies 1

Grain Managementi
Private± Mixedrelevance