Good morning and happy Tuesday. Welcome back to Top Tickers, this is our second send of the week. Some of you may not have received yesterday’s email, but that was by design. We’re slowly rolling over cohorts from The Street Sheet, so if you missed yesterday don’t fret, you should be good now. Let’s get up to speed before the opening bell.

Today’s premarket action is being driven by two very different narratives.

On one side, deal activity is lighting up biotech, with aggressive M&A speculation pushing names sharply higher. A potential blockbuster merger is also stirring momentum in consumer staples, adding another layer of upside tied to consolidation.

On the other, pressure is building in semis. The memory trade is weakening as spot DRAM prices roll over, dragging chip stocks lower and weighing on broader tech sentiment.

Elsewhere, the largest nuclear operator in the U.S. is trading down after guiding below expectations, a reminder that even the strongest AI infrastructure narratives are still hostage to execution.

SoftBank CEO Masayoshi Son predicts AI robotics could generate at least 10% of global GDP. That’s $20 trillion per year. With that kind of prediction, it’s no surprise that SoftBank just acquired ABB Robotics for $5.4B.

But that’s not the only AI acquisition making headlines.

Miso Robotics, the leading fast-food AI and robots company, just announced the acquisition of Zignyl, a restaurant operations tool serving brands like Cinnabon, Jersey Mike’s, and Jamba.

Combined with its famous Flippy Fry Station robot, Miso is building game-changing AI products that could modernize the entire $1T fast-food restaurant industry. Now, Miso can scale across 100,000+ US restaurant locations, a $4B/year revenue opportunity.

And unlike SoftBank’s robotics acquisition, you have the chance to be part of Miso’s growth as an investor. Become a Miso shareholder today and unlock up to 7% bonus stock.

This is a paid advertisement for Miso Robotics’ Regulation A offering. Please read the offering circular at invest.misorobotics.com.

Apellis Pharmaceuticals (APLS): +138%

Biogen just wrote a $5.6 billion check for Apellis, and the stock has more than doubled on the news. The deal expands Biogen's reach into immunology and rare disease, and for Apellis shareholders, the acquisition premium is being paid in full today.

Centessa Pharmaceuticals (CNTA): +46%

Eli Lilly is buying the clinical-stage drugmaker, and the market is repricing accordingly. Lilly wants to advance Centessa's work on excessive daytime sleepiness and other neurological conditions, adding another rare disease asset to a pipeline that's become one of the most aggressive in pharma.

McCormick (MKC): +3%

Unilever confirmed it's in talks with McCormick about merging Unilever's foods business with the spice giant in a deal that would hand Unilever and its shareholders a 65% stake in the combined company. For McCormick, the move would represent a dramatic reorientation of the business if it closes.

Diageo (DEO): +2%

Deutsche Bank upgraded the spirits company from hold to buy, arguing that the structural and cyclical pressures on alcohol sales are already reflected in the share price. The upgrade is a contrarian bet that the worst of the industry headwinds have already been priced in.

Constellation Energy (CEG): -5%

The operator of the largest nuclear fleet in the country issued guidance that came in slightly below what analysts were expecting, and the stock is paying the price. For a name closely tied to the AI power demand story, the miss on near-term guidance is spooking the market.

Micron Technology (MU): -1%

Citi cut its price target on Micron by 17% after spot prices for mainstream DRAM products fell roughly 6% since the company's last earnings report. The near-term pressure is real, but Citi kept its Buy rating, arguing that ongoing negotiations between memory suppliers and hyperscalers on multi-year supply agreements should help stabilize contract pricing.

SanDisk (SNDK): -0.3%

SanDisk is getting pulled down alongside Micron on the same memory market concerns. The two names trade in close sympathy, and when spot DRAM pricing rolls over, the sector tends to move together.

That’s what the world’s richest person said about AI and robotics. There’s just one question: How do you take advantage of a wealth creation opportunity like this?

Over 39,000 people are doing it by investing in a private company: Miso Robotics. And Miso has already landed customers like White Castle, Jersey Mike’s, Jamba, Auntie Ann’s Pretzels, and many more.

Miso’s not a newcomer to AI and robots. They’re a first-mover and current leader in bringing AI-powered robots to one of the biggest markets in the world, the $1T fast food industry. Miso’s spent years honing their technology, with their AI-powered Flippy Fry Station robot already logging over 200,000 hours in real kitchens.

Flippy can boost restaurant profits by 4X, making it an easy choice as brands turn to robots and AI to solve a desperate labor shortage.

Now Miso’s scaling commercial production of Flippy toward 100,000+ potential U.S. locations. That’s a $4B/year revenue opportunity.

And you still have the chance to tap into this growth as a Miso shareholder. Invest in Miso Robotics and get up to 7% in bonus stock.

This is a paid advertisement for Miso Robotics’ Regulation A offering. Please read the offering circular at invest.misorobotics.com.

Nebius Group (NBIS)

Nebius is a trending ticker on Stocktwits this morning after announcing plans to build one of Europe's largest AI data centers in Lappeenranta, Finland, with up to 310 MW of planned capacity.

The chatter on r/wallstreetbets has been building for weeks around the core thesis: that Nebius's contract backlog with Microsoft and Meta may now exceed the company's own market cap, making it an unusually asymmetric AI infrastructure play.

The stock has drawn both bulls and bears, with the debate centering less on demand and more on whether the company can build fast enough to collect on what it has already sold. Today's Finland announcement adds another data point to that execution story, and retail traders are watching closely to see whether it moves the needle.

✌️That’s it for today.