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This preview opens with a summary of our calls on the names of note, then a one-page view of those names: a table of the key numbers, the points that stand out, and charts ranking them on relative performance, short interest, options pricing, valuation, estimate momentum, growth, positioning and trend. Each name of note follows with its setup table, a read on whether it leans long or short into the print based on that table, a bull and bear case, and a combined view that weighs the setup against the fundamental story and recent news. We close with a spreadsheet of setup tables for all of the day’s reporters.
Setup Summary
Research as of September 22, 2026
MU - Table: Lean Long | Combined: Lean Long - cheapest multiple in two years with estimates still rising
NKE - Table: Stay Away | Combined: Stay Away - trough multiple offset by post-print estimate cuts and a long turnaround
BB - Table: Lean Long | Combined: Lean Long - pullback resets the bar while QNX design wins keep coming
COST - Table: Stay Away | Combined: Stay Away - strong monthly sales already known; modest beats rarely rewarded
ACN - Table: Lean Short | Combined: Stay Away - sharp rally meets slowing growth; AI partnership offsets
JBL - Table: Lean Long | Combined: Lean Long - fastest estimate momentum in its history after a pullback
CCL - Table: Lean Long | Combined: Lean Long - lowest multiple in its history with estimates rising into the print
FDS - Table: Lean Long | Combined: Lean Long - crowded short and rising estimates, but fiscal 2027 guide decides
KMX - Table: Lean Short | Combined: Lean Short - three quarters of outperformance while beats keep selling off
MTN - Table: Stay Away | Combined: Stay Away - heavy short interest, but guidance has been cut after most prints
The table reads split 5 long, 2 short and 3 stay away; the combined views land at 5 long, 1 short and 4 stay away. The two views agreed on 9 of 10 names, with ACN moving from the table’s call to stay away once the news was weighed.
Week Ahead at a Glance
The names of note, ordered by report time. Figures come from the setup tables below; the charts that follow rank the names on each measure.
Shading: red marks the three heaviest short interest readings, a forward multiple in the top quarter of its own 5-year range, and an implied move at least 1 point above the average of the last 8 reactions. Blue marks the opposite. P/E percentile ranks today against the prior quarters in each table. Avg. move is the average absolute one-day reaction.
What Stands Out
• Short interest: MTN is the most crowded short at 16.4% of float. FDS (12.6%) is also above 10%.
• Relative performance: 3 names are ahead of SPY since their last print, led by ACN (+43.3 pts). BB (-31.5 pts) and CCL (-26.8 pts) lag most.
• Options vs. history: Options price more than usual for JBL (8.6% vs. 5.1% avg.) and CCL (6.1% vs. 4.7% avg.), less for MU (7.8% vs. 9.1%).
• Valuation: Near the bottom: NKE (0th pct), CCL (0th pct) and ACN (5th pct).
• Estimates: NTM EPS estimates rose over the last 75 days for 10 of 10 names. MU leads (+10.4%).
• Growth and track record: CCL (-4.1%) has shrinking forward EPS. MU beat in 8 of its last 8 prints; MTN in only 3 of 8.
• Positioning: KMX has the steepest put skew (5.7%); BB the lowest put/call open interest (0.23). FDS carries the most puts vs. calls (2.17).
Rankings by Category
Names of Note
Micron Technology (MU)
MU reports Wednesday, September 30, 2026 after the close (fiscal Q4 2026)
Research as of: September 22, 2026
Directional Commentary - Lean Long