The major equity indices closed modestly lower on Friday, one day after the S&P 500 notched a fresh record high close. The S&P 500 gave up 0.1% on the session while the Nasdaq Composite lost 0.2%. Six of the 11 S&P sector SPDR ETFs finished higher, led by Energy (XLE). Healthcare (XLV) was the weakest of these funds.

Treasury yields shifted higher as bond traders made sales. The U.S. 10-year note paid 4.69% (+4 BPS) by day’s end while the two-year note paid 4.17% (+2 BPS). Stocks started out the day on strength after July U.S. retail sales fell 0.6% month-over-month to $763.6 billion. This was considerably softer than expected and marked the largest one months drop for the series in more than a year.

Sandisk (SNDK) was the star of the S&P 500, gaining 7.4% on continued strength one day after the firm’s investor day, where management outlined strong long-term growth and margin targets for the business. Applied Materials (AMAT) at -5.1% for the day was a laggard, but Broadcom (AVGO) led the way lower at -5.9%. 

OK, gang. It’s Friday night. I need a break. I bet you do, too. With a little luck and the blessings of a merciful God, Dougie should be back at the helm on Monday. May all of you have a safe and enjoyable weekend. Sarge out. 

Positions: Long SNDK equity. 

From TipRanks:

Federal Reserve Bank of Chicago President Austan Goolsbee said Friday that recent indications of cooling inflation are encouraging. However, he would like to see additional evidence in the coming months that price pressures are continuing to ease toward the central bank’s 2% target.

“If we get three, four months in a row like what we saw in June, I will be feeling much better that we are on path back to 2%,” he told Bloomberg. Earlier this week, the July CPI showed 3.4% annual growth, down from 3.5% in June.

Goolsbee Cautious on Inflation Ahead of Interest Rate Decision

Goolsbee added that inflation remaining above the Fed’s target for over five years has made him cautious about making quick changes to monetary policy. Once inflation sets in, “it can be painful and hard to get rid of,” he said. Meanwhile, Goolsbee added that economic growth and the labor market are both “stable.”

The Fed will meet for its next interest rate decision on September 16. The central bank is expected to hold rates steady with 67.4% odds, according to the CME FedWatch tool. At the same time, a 25-bp hike is still possible with 32.6% odds.

Positions: None.

Question

Since integration (1947), there have only been six seasons where an MLB starting pitcher threw 30 or more complete games in a season. Robin Roberts of the Philadelphia Phillies did it twice in the early 1950s. The other four seasons (four different pitchers) all occurred between 1968 and 1975. Name those four hurlers. 

Answer

1968: Juan Marichal of the SF Giants went 26-9 with a 2.43 ERA, completing 30 of 38 starts.

1971: Fergie Jenkins of the Chi Cubs went 24-13 with a 2.77 ERA, completing 30 of 41 starts.

1972: Steve Carlton of the Pha Phillies went 27-10 with a 1.97 ERA, completing 30 of 41 starts.

1975: Catfish Hunter of the NY Yankees went 23-14 with a 2.58 ERA, completing 30 of 39 starts.

Positions: None.

From TipRanks:

Earnings season is set to continue next week with several key retailers on deck. Furthermore, the Fed will release its minutes from the July 28 to 29 Federal Open Market Committee (FOMC) meeting. Let’s take a look at next week’s key events:

Stock Market Earnings Next Week

• Monday: Fabrinet FN +0.74% ▲ , H World Group HTHT +2.93% ▲ , XP XP -0.76% ▼
• Tuesday: Home Depot HD -0.68% ▼ , Baidu BIDU -1.51% ▼ , KIarna KLAR +0.48% ▲
• Wednesday: Target TGT -0.38% ▼ , TJX Companies TJX -1.03% ▼ , Lowe’s LOW -0.07% ▼ ,
• Thursday: Walmart WMT -0.30% ▼ , Alibaba BABA +1.24% ▲ , Deere & Company DE -0.26% ▼ , Ross Stores ROST -0.21% ▼
• Friday: BJ’s Wholesale Club BJ +0.26% ▲ , KE Holdings BEKE -0.15% ▼ , Taylor Devices TAYD +2.71% ▲

Economic Data Next Week

• Monday: NAHB Housing Market Index
• Tuesday: Industrial Production, Pending Home Sales
• Wednesday: FOMC Minutes
• Thursday: Initial Jobless Claims, Continuing Jobless Claims
• Friday: S&P Global Services PMI, S&P Global Manufacturing PMI

Positions: None.

Since integration (1947), there have only been six seasons where an MLB starting pitcher threw 30 or more complete games in a season. Robin Roberts of the Philadelphia Phillies did it twice in the early 1950s. The other four seasons (four different pitchers) all occurred between 1968 and 1975. Name those four hurlers.

Positions: None.

“Wayfair Faces a Fork in the Road But I’m Bullish“

Positions: None.

Earlier this week, AST SpaceMobile (ASTS) released the firm’s second quarter financial results. For the period ended June 30, AST SpaceMobile posted a GAAP EPS of -$0.77 on revenue of $31.52 million. These top- and bottom-line results both fell well short of Wall Street’s expectations. Despite the fact that the sales print reflected annual growth of 2,617%. Hmm…

So, why am I in the stock? Three reasons:

1) The firm signed partnerships with over 60 MNO partners globally who collectively cover over 3 billion subscribers.
2) The firm’s order backlog increased to approximately $1.3 billion in aggregate contracted revenue including both commercial partners and contracts awarded by the U.S. government. 
3) During the call, CFO Andrew Johnson said, “We remain on track to meet our full year 2026 revenue guidance of $150 million to $200 million.” That keeps the midpoint of the range above the $169 million that Wall Street had in mind.

The Chart

Readers will see that ASTS came into this year riding the first peak of what became a double-top pattern of bearish reversal. That setup worked well. Readers will then note that coming out of that setup, as the stock sold off through June and July, the shares developed a falling wedge of bullish reversal. This appears to be working as well. The stock broke out from that closing wedge in late July, ahead of the numbers.

The stock has since retaken its 21-day EMA (green line), engaging the swing crowd. The last sale now stands in between that line and its 50-day SMA which has acted as resistance. Investors need to see the stock make a run at both that blue line and the 200-day SMA as they are not that far apart and that would all but ensure increased participation by professional managers.

Moving on to the indicators, relative strength is looking rather non-committal. However, the daily MACD is looking much better than it has. The histogram of the nine-day EMA is now in positive territory which is a bullish signal. In addition, the 12-day EMA has overtaken the 26-day EMA, which is also bullish. Both of those lines appear to be moving toward the zero-bound. Should these two lines move into positive territory together, the bullish signaling would then be amplified. I think $101 is realistic. 

Positions: Long ASTS equity. 

Featuring Evolv Technologies (EVLV):

“Evolv Reports, and Here’s What I’d Do … If I Had the Cash“

Positions: Long ALTO, EVLV, OCUL, ONDS, PL, RKLB, SOFI, SWBI, VELO equity; Short OCUL calls.

Sandisk (SNDK) is running wild in response to the firm’s investor day on Thursday.

While unhappy that we sold most of our long position here at the Sarge-folio, we can take solace in the fact that at least we did not sell it all and that we did add an odd lot to the odd lot that we had left going into the event. Do we even have a round lot in inventory? Rather not talk about it.

For a stock that we had traded masterfully through the spring, we sure have managed to turn a grand slam into a triple. Still, we could have missed the memory/storage trade of 2026 and we did not. That said, we have a broken pattern.

Readers will see that our head-and-shoulders pattern has gone the way of the dinosaur, the blacksmith and the NYSE floor trader. The shares took back their 21-day SMA on Thursday and are trying to take back their 50-day SMA this morning. Should this happen, as the swing crowd is already on board, the pros will have no choice but to increase long side exposure further. That blue line is the pivot. Both relative strength and the daily MACD are wearing their rally cpas as well. Take that blur line and a target price of $2,155 is very realistic. 

Positions: Long SNDK equity. 

That includes my sharp rebuke of Cleveland Fed Pres. Beth Hammack that is probably even more pertinent now that July retail sales have hit the tape.

I’m a Little ‘Fed’ Up … | TheStreet Pro

Positions: Long SNDK, MU equity.

Provided by TheFly…

Applied Materials price target lowered to $605 from $680 at Deutsche Bank

AMAT

8:29 AM

Deutsche Bank analyst Melissa Weathers lowered the firm’s price target on Applied Materials to $605 from $680 and keeps a Buy rating on the shares post the fiscal Q3 report. The firm views the company’s outlook as “hazy” but says the stock’s long-term thesis remains intact.

Globant price target lowered to $35 from $40 at Canaccord

GLOB

8:29 AM

Canaccord lowered the firm’s price target on Globant to $35 from $40 and keeps a Hold rating on the shares. The firm updated its model following Q2 results where guidance was lowered but the firm’s conviction is up as revenue of $614M landed inside the guided range and roughly flat year-over-year, but profitability came in below it.

Aveanna price target raised to $16 from $11.50 at Deutsche Bank

AVAH

8:29 AM

Deutsche Bank raised the firm’s price target on Aveanna to $16 from $11.50 and keeps a Buy rating on the shares.

UDR price target lowered to $44 from $45 at Deutsche Bank

UDR

8:28 AM

Deutsche Bank analyst Peter Abramowitz lowered the firm’s price target on UDR to $44 from $45 and keeps a Buy rating on the shares.

Applied Materials price target lowered to $642 from $646 at Morgan Stanley

AMAT

8:28 AM

Morgan Stanley lowered the firm’s price target on Applied Materials to $642 from $646 and keeps an Equal Weight rating on the shares. By “no means is 42% systems shipment growth ‘bad’,” says the analyst, who thinks the market was expecting Applied to “provide greater confidence” following peer earnings that pointed to system shipment growth of more than 40%. Earnings were “good, but not great,” the analyst added.

Andersen Group price target raised to $56 from $41 at Deutsche Bank

ANDG

8:28 AM

Deutsche Bank raised the firm’s price target on Andersen Group to $56 from $41 and keeps a Buy rating on the shares. The company reported “impressive” organic growth with a conservative outlook, the analyst tells investors in a research note.

Femasys price target lowered to $10 from $30 at Maxim

FEMY

8:28 AM

Maxim analyst Jason McCarthy lowered the firm’s price target on Femasys to $10 from $30 and keeps a Buy rating on the shares. The firm cites the company having announced a $30M equity financing which extends its operating runway into Q3 of 2027, though with the balance sheet strengthened, Femasys should be able to fund its ongoing commercial efforts for its FemaSeed fertility treatment while also advancing the ongoing pivotal study evaluating FemBloc for permanent birth control, the analyst tells investors in a research note.

Blend Labs price target lowered to $3 from $4.50 at Canaccord

BLND

8:28 AM

Canaccord lowered the firm’s price target on Blend Labs to $3 from $4.50 and keeps a Buy rating on the shares. The firm said the company continues to do all it can in terms of growth, profitability, and product set expansion, despite the persistently tough mortgage macro.

KinderCare Learning price target raised to $6 from $5 at Deutsche Bank

KLC

8:28 AM

Deutsche Bank raised the firm’s price target on KinderCare Learning to $6 from $5 and keeps a Hold rating on the shares.

Yeti price target raised to $56 from $55 at Raymond James

YETI

8:27 AM

Raymond James analyst Joseph Altobello raised the firm’s price target on Yeti to $56 from $55 and keeps an Outperform rating on the shares. Solid execution, innovation, and brand development have positioned the company as a high-quality consumer growth story, with near-term competitive, tariff, and inflation pressures largely reflected in forecasts and valuation while long-term growth prospects remain compelling, the analyst tells investors in a research note.

Target price target raised to $140 from $126 at Deutsche Bank

TGT

8:27 AM

Deutsche Bank raised the firm’s price target on Target to $140 from $126 and keeps a Hold rating on the shares. The firm says investor expectations are “very elevated” into Target’s Q2 earnings report. The more important debate is whether improving store and merchandising execution supports confidence in company’s fiscal 2027 growth durability, the analyst tells investors in a research note. Deutsche believes much of Target’s turnaround progress is reflected in the stock.

MapLight Therapeutics price target lowered to $31 from $35 at Raymond James

MPLT

8:27 AM

Raymond James lowered the firm’s price target on MapLight Therapeutics (MPLT) to $31 from $35 and keeps a Strong Buy rating on the shares. Following the ZEPHYR readout, the firm’s investment thesis increasingly centers on ADP, with Bristol’s (BMY) Phase 3 ADEPT data by YE26 and MapLight’s Phase 2 VISTA results in 2H27 serving as key catalysts, while the remaining opportunity remains supported by KOL feedback despite limited efficacy differentiation versus Cobenfy, the analyst tells investors in a research note.

Block price target raised to $100 from $85 at Canaccord

XYZ

8:27 AM

Canaccord analyst Joseph Vafi raised the firm’s price target on Block to $100 from $85 and keeps a Buy rating on the shares. The firm said two quarters after announcing a significant workforce reduction as part of its AI transformation, the company is demonstrating that growth and efficiency are not mutually exclusive. They are benefitting from Cash App which is driving growth while benefitting from AI productivity gains.

Burlington Stores price target raised to $410 from $365 at Jefferies

BURL

8:26 AM

Jefferies raised the firm’s price target on Burlington Stores to $410 from $365 and keeps a Buy rating on the shares. Off-price “remains one of our preferred channels into earnings,” says the analyst, who views Burlington as positioned to sustain share gains despite “mixed” alternative data.

Definium Therapeutics price target raised to $55 from $50 at Maxim

DFTX

8:26 AM

Maxim raised the firm’s price target on Definium Therapeutics to $55 from $50 and keeps a Buy rating on the shares. The firm cites the company having announced topline data from Voyage, its first pivotal study in generalized anxiety disorder, GAD), meeting the primary and all key secondary endpoints, also noting that data from the confirmatory pivotal study, Panorama, are expected in September, the analyst tells investors in a research note.

Jefferson Capital price target raised to $24 from $21 at Raymond James

JCAP

8:26 AM

Raymond James analyst Robert Dodd raised the firm’s price target on Jefferson Capital to $24 from $21 and keeps an Outperform rating on the shares. Jefferson Capital’s lower leverage, efficient collections model, strong U.S. exposure, and recent acquisition position the company for medium-term outperformance, the analyst tells investors in a research note.

Ryman Hospitality price target raised to $152 from $150 at Deutsche Bank

RHP

8:26 AM

Deutsche Bank raised the firm’s price target on Ryman Hospitality to $152 from $150 and keeps a Buy rating on the shares.

Park Hotels & Resorts price target raised to $18 from $17 at Deutsche Bank

PK

8:26 AM

Deutsche Bank raised the firm’s price target on Park Hotels & Resorts to $18 from $17 and keeps a Buy rating on the shares.

J.M. Smucker price target raised to $107 from $102 at Deutsche Bank

SJM

8:26 AM

Deutsche Bank analyst Steve Powers raised the firm’s price target on J.M. Smucker to $107 from $102 and keeps a Hold rating on the shares.

Aveanna price target raised to $15 from $13 at Raymond James

AVAH

8:25 AM

Raymond James raised the firm’s price target on Aveanna to $15 from $13 and keeps a Strong Buy rating on the shares. Aveanna’s Q2 EBITDA beat and higher guidance leave room for further upside, with broad-based strength, California rate increases, and an improved long-term growth framework supporting the bullish outlook, the analyst tells investors in a research note.

Hertz price target raised to $2.80 from $2.65 at Deutsche Bank

HTZ

8:25 AM

Deutsche Bank raised the firm’s price target on Hertz to $2.80 from $2.65 and keeps a Hold rating on the shares. The firm says the market is looking for indications of how quickly Hertz might transform the business mode.

Positions: none

Positions: None.

(Following was from around 7:30 a.m. ET:)

S&P futures: +4 vs FV

Nasdaq Futures: +82 vs FV

US Ten-Year Note: 4.656%

US Two-Year Note: 4.144%

US 3-Month T-Bill: 3.79%

WTI Crude: +0.5%

US Dollar Index: -0.25%

Gold: -0.19%

Silver: -0.1%

Bitcoin: -0.81%

positions: Long physical gold & silver

S&P futures: +4 vs FV

Nasdaq Futures: +82 vs FV

US Ten-Year Note: 4.656%

US Two-Year Note: 4.144%

US 3-Month T-Bill: 3.79%

WTI Crude: +0.5%

US Dollar Index: -0.25%

Gold: -0.19%

Silver: -0.1%

Bitcoin: -0.81%

Positions: Long physical gold & silver

from TheFly:

8th Annual Needham Virtual FinTech & Digital Transformation 1×1 Conference

Managers: NEED-Needham | City: Virtual Conference

Positions: none

From TheFly:

Acurx – ACXP 8/14/26 08:00:00 ET

Managers: Company Sponsored | Call in Number: 877-790-1503 | Call in Code: 13761686 | International Call in Number: 877-790-1503 | International Call in Code: 13761686 | Streaming Link

RLX Technology – RLX 8/14/26 08:00:00 ET

Managers: Company Sponsored | Call in Number: 888-317-6003 | Call in Code: 7036236 | International Call in Number: 412-317-6061 | International Call in Code: 7036236 | Streaming Link

Edible Garden – EDBL 8/14/26 08:00:00 ET

Managers: Company Sponsored | Call in Number: 888-506-0062 | Call in Code: 248059 | International Call in Number: 973-528-0011 | International Call in Code: 248059 | Streaming Link

Gemini – GEMI 8/14/26 08:30:00 ET

Managers: Company Sponsored | Streaming Link

Teamshares – TMS 8/14/26 08:30:00 ET

Managers: Company Sponsored | Streaming Link

Net Power – NPWR 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 877-407-8014 | International Call in Number: 201-689-8053 | Streaming Link

PAVmed – PAVM 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 800-836-8184 | Call in Code: PAVmed Business Update | International Call in Number: 646-357-8785 | International Call in Code: PAVmed Business Update | Streaming Link

Milestone Scientific – MLSS 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 888-506-0062 | Call in Code: 252290 | International Call in Number: 973-528-0011 | International Call in Code: 252290 | Streaming Link

Outlook Therapeutics – OTLK 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 877-407-8291 | International Call in Number: 201-689-8345 | Streaming Link

Super League Enterprise – SLE 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 877-407-0779 | International Call in Number: 201-389-0914 | Streaming Link

AirJoule Technologies – AIRJ 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 877-407-6184 | International Call in Number: 877-407-6184 | Streaming Link

Lument Finance Trust – LFT 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 800-836-8184 | International Call in Number: 646-357-8785 | Streaming Link

VolitionRx – VNRX 8/14/26 08:30:00 ET

Managers: Company Sponsored | Call in Number: 877-407-9716 | Call in Code: 13762190 | International Call in Number: 201-493-6779 | International Call in Code: 13762190 | Streaming Link

BayFirst Financial – BAFN 8/14/26 09:00:00 ET

Managers: Company Sponsored | Call in Number: 833-461-5787 | Call in Code: 560643219 | International Call in Number: 833-461-5787 | International Call in Code: 560643219 | Streaming Link

Immucell – ICCC 8/14/26 09:00:00 ET

Managers: Company Sponsored | Call in Number: 844-855-9502 | International Call in Number: 412-317-5499 | Streaming Link

MBRF Global – MBRFY 8/14/26 09:00:00 ET

Managers: Company Sponsored | Streaming Link

Firy – FIRY 8/14/26 09:00:00 ET

Managers: Company Sponsored | Streaming Link

Lantern Pharma – LTRN 8/14/26 09:00:00 ET

Managers: Company Sponsored | Streaming Link

Xcel Brands – XELB 8/14/26 09:30:00 ET

Managers: Company Sponsored | Call in Number: 800-715-9871 | Call in Code: 4300396 | International Call in Number: 646-307-1963 | International Call in Code: 4300396 | Streaming Link

Suncrete – RMIX 8/14/26 10:00:00 ET

Managers: Company Sponsored | Call in Number: 201-389-0872 | International Call in Number: 201-389-0872 | Streaming Link

Cemig – CIG 8/14/26 10:00:00 ET

Managers: Company Sponsored | Streaming Link

Star Equity – STRR 8/14/26 10:00:00 ET

Managers: Company Sponsored | Call in Number: 833-890-6161 | International Call in Number: 412-504-9848 | Streaming Link

CSP Inc. – CSPI 8/14/26 10:00:00 ET

Managers: Company Sponsored | Call in Number: 888-506-0062 | Call in Code: 359648 | International Call in Number: 973-528-0011 | International Call in Code: 359648 | Streaming Link

Credicorp – BAP 8/14/26 10:30:00 ET

Managers: Company Sponsored | Call in Number: 844-435-0321 | International Call in Number: 412-317-5615 | Streaming Link

Braskem – BAK 8/14/26 10:30:00 ET

Managers: Company Sponsored | Streaming Link

Data Storage – DTST 8/14/26 11:00:00 ET

Managers: Company Sponsored | Call in Number: 877-407-9219 | International Call in Number: 412-652-1274 | Streaming Link

Positions: none

Greetings, gang. It’s Friday. CPI? Done. PPI? Done. Retail sales? On the way. Economic warfare? That’s a thing. OK, hit the deck. This morning we will do 25 four-count push-ups. On my command you will begin. Begin… One, two, three… one. One, two, three… two. You get it. You’re on your own to finish the set, or at least do what you can do. Everyone does something to get the blood circulating. Fear? Fear is but for the wicked, so let the wicked tremble before us.

It is I, Sarge. This is “day two” of this “other than for good reasons” filling in for Dougie who will be out again today. I will do my best to be Earl Morrall or Jeff Hostetler and still lead the team down the field even with the star QB on the sidelines. So, it is. So let it be. Good morning. God bless. We rock. Because it is who we are, and because our honor shall remain forever clean, we are always faithful. Say it with me. Always Faithful. Now, let it burn in.

Positions: none