The Exchange A September Skip, The Bullish Case for Viking Therapeutics, and Lassoing the Laggards 8/19/25
Aug 19, 2025
In this discussion, Christina Parsinevila, a Nasdaq reporter with a keen eye on investment trends, dives into the recent dynamics of chip stocks and the Federal Reserve's potential decisions. She highlights the challenges faced by Intel amidst political influences and inflation concerns. The conversation shifts to Viking Therapeutics’ disappointing weight-loss drug trials, drawing interesting comparisons to competitors like Eli Lilly and Novo Nordisk. Parsinevila also explores the current landscape of mega-cap tech stocks and undervalued opportunities in the market.
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Fed May Skip Aggressive September Action
- Michael Darda argues the urgency for a September Fed cut is lower than a year ago because unemployment is flat and inflation expectations are higher.
- He expects a 25 bps cut may occur but warns against fueling expectations for many more cuts without data support.
Tariffs Likely A Temporary Price Shock
- Darda views tariff-driven price moves as a one-off relative price-level shock rather than a persistent inflation problem the Fed must aggressively fight.
- He emphasizes maintaining anchored inflation expectations over reacting to temporary tariff effects.
SoftBank Cash Helps But Government Equity Risks
- SoftBank's $2B primary equity purchase for Intel is viewed as credibility and potential strategic partnership, but it dilutes shareholders.
- Christina Parsinevila warns government equity from CHIPS funding could limit Intel's strategic freedom and harm shareholder value.