CEG up 12.2% on Google's 3,590 MW nuclear deal

The 10-year Treasury closed Monday at 5.31% and the VIX printed 15.5 — a rate environment still pressuring long-duration assets, volatility subdued enough to let individual catalysts drive the session. They did.

Nuclear sector reprices in a session

$CEG finished +12.2% after Constellation Energy and Google announced two 20-year power purchase agreements totaling 3,590 megawatts. Constellation will invest $4.3 billion to upgrade 11 nuclear units across three states to meet rising data center load. The deal converts existing nuclear capacity into guaranteed long-term revenue — the market re-rated the stock in a single session.

$VST rose 10.8%, lifted by the same nuclear narrative and by a distinct second catalyst: a $4.2 billion government loan commitment for Vistra's nuclear plant upgrades. Both drivers compounded in one session. $TLN also moved with the group, though headline flow concentrated on CEG and VST.

$GEV added 4.0%. GE Vernova supplies the turbines and grid equipment that nuclear expansion requires; the stock drew spillover buying as investors priced what the Constellation-Google deal implies for power infrastructure demand.

Semiconductors split

$AVGO gained 3.7% after Marvell Technology forecast continued AI chip demand growth. Broadcom operates in the same custom silicon market, with AI revenue up 221% last quarter; Marvell's forward commentary was read as corroboration. $INTC declined 3.2% on the same day Citi raised AMD's price target to $800 and Stifel moved to $700, both citing AI agent workloads as a structural tailwind for AMD's server lineup. Intel appeared in neither upgrade.

Insider desk

$AAPL Executive Chair Timothy Cook sold $63.8 million in shares, per a Form 4 filed today.

Since last Tuesday's note on a Berkshire Vice Chairman trimming his personal $BRK-B stake, a separate filing shows Berkshire itself purchasing $192.6 million in $LEN (Lennar) homebuilder stock — extending the firm's visible homebuilder exposure.

Filings desk

$CVX filed an 8-K disclosing it is selling its Hess Midstream LP stake and expects a one-time after-tax loss of $3–4 billion on closing, reported separately from operating results. Regulatory approval required; close expected by year-end 2026. $DLR priced €1 billion in 10-year bonds at 5.125%, proceeds earmarked primarily for renewable energy and green building projects; settlement closes October 9.

What we set aside

Nine filings were held because the underlying events were more than 36 hours old at disclosure time. Two tickers — $EQIX and $WELL — produced no actionable filings or news in the window.

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Tomorrow, the desk is watching Intel's Q3 earnings report, which the company announced today it will release in the coming days.