Core Insights - Oklo Inc. (NYSE:OKLO) is a nuclear power company focused on designing small modular reactors, but faces long project delivery timelines [2][3] - Jim Cramer highlighted a significant 400% gain in Oklo's shares, suggesting it may be a good time to take profits [2] - Cramer expressed skepticism about the nuclear sector's timelines, indicating that even small modular reactors require 6 to 7 years for completion [3] Company Overview - Oklo Inc. is involved in the development of small modular reactors, which are seen as a potential solution for nuclear energy [2] - The company is positioned in a sector that is experiencing a shift away from rapid investment returns, as indicated by Cramer's commentary on the end of the 'era of magical investing' [2] Market Context - Cramer compared Oklo's investment potential unfavorably to certain AI stocks, suggesting that AI may offer better returns with lower risk [3] - The nuclear power industry is characterized by lengthy project timelines, which may deter some investors looking for quicker returns [3]

Core Insights - NuScale Power has been a prominent player in the U.S. nuclear renaissance, but its stock has seen a significant decline of 46% over the past three months as of November 21 [1] - Over the past year, NuScale Power's stock has underperformed the market, dropping 29% compared to an 11.4% increase in the S&P 500, resulting in a decrease in value from $100 to $70.90 for investors [6] - The stock experienced a temporary boost following President Trump's executive orders aimed at promoting nuclear energy, but this momentum has not been sustained [4][9] Company Performance - Despite a strong performance in the spring, NuScale Power's stock has struggled to recover after a decline in late 2024 and early 2025 [4] - Investors have become more cautious, reducing their positions in the company, which has lost some of its previous appeal [5] - The volatility in NuScale Power's stock is expected to continue, leading some investors to consider nuclear energy exchange-traded funds as a safer alternative [7] Market Context - The nuclear energy sector is still in the early stages of a renaissance, suggesting that it may be premature to dismiss NuScale Power as a growth opportunity [7] - The company's stock price has dropped nearly 40% in the last three months, reflecting broader market challenges [9] - Analysts have identified other stocks that may offer better investment opportunities than NuScale Power at this time [10]

Core Viewpoint - Fluor, a Texas-based construction and engineering company, has experienced significant stock volatility in 2025, but its strategic focus on nuclear power is attracting renewed investor interest [1][2]. Company Performance - Fluor's stock has fluctuated dramatically, with a 40% decline in April, a 20% gain in July, and a subsequent 20% drop in August, leading to a current year-to-date loss of 7% [2]. - The company has a market capitalization of $7 billion, making it the smallest among six Construction & Engineering stocks in the SPDR S&P MidCap 400 ETF Trust, and it remains the only one with a negative performance for the year [3]. - Fluor's stock is approximately 55% below its all-time high of $102 from 2008 and about 20% below its 52-week high of $57.50 reached in late July [4]. Financial Results - Fluor missed revenue estimates for the eighth consecutive quarter, reporting a 17% decline in revenue to $3.3 billion, significantly below the average estimate of $4.2 billion [5]. - Adjusted earnings per share increased by 33% to $0.68, surpassing analysts' expectations of $0.45 [5]. - The company secured $3.3 billion in new contracts in Q3, raising its backlog to $28.2 billion, with 82% of this backlog being reimbursable contracts [6]. Strategic Moves - Fluor plans to monetize its remaining 39% stake in NuScale, a company specializing in small modular reactors, which has seen its stock rise over 600% in the past two years due to increased demand for nuclear energy [7]. - After selling a 15 million-share block of NuScale for $605 million, Fluor aims to liquidate the rest of its stake by the end of Q2 2026, expecting to raise $800 million by February to support a stock-buyback program [8][9]. Market Outlook - Analysts have mixed ratings on Fluor, with five recommending a buy and five suggesting a hold, and an average 12-month price target of $51, indicating a potential upside of about 12% from the current price [13]. - The company is projected to achieve earnings growth of approximately 7% and an 8% increase in revenue for the full year 2026 [13]. - Fluor's forward price-to-earnings ratio of 22x places it in the top quintile of its historical range, indicating a higher valuation compared to 80% of the past decade [12].

Core Insights - NuScale Power Corporation is focused on developing small modular reactors for clean energy solutions [1] - Cantor Fitzgerald has set a price target of $55 for SMR, indicating a potential increase of approximately 24.41% from the current price of $44.21 [1][5] - The appointment of James D. Canafax as Chief Legal Officer and Corporate Secretary may influence investor confidence [2][5] Stock Performance - SMR's stock price has shown volatility, with a daily range between $43.41 and $46.39 [3] - Over the past year, the stock reached a high of $57.42 and a low of $11.08, indicating significant fluctuations [3] - The current stock price has seen a slight decrease of $0.04, or approximately -0.09%, settling at $44.21 [2] Market Metrics - The company's market capitalization is approximately $13.18 billion, reflecting its size and market presence [4] - SMR has a trading volume of 14.99 million shares, indicating active trading and investor interest [4][5] - The stock's volatility and significant trading volume suggest potential for growth as highlighted by Cantor Fitzgerald's price target [5]

Core Viewpoint - NuScale Power Corporation is focused on developing small modular reactors for nuclear energy, with a positive outlook indicated by Cantor Fitzgerald's "Overweight" rating on the stock [1][5]. Company Developments - The appointment of James D. Canafax as Chief Legal Officer and Corporate Secretary is expected to enhance the company's legal and corporate governance framework, potentially influencing investor confidence and stock performance [2][5]. Stock Performance - Currently, SMR is priced at $44.21, with a slight decrease of $0.04, or approximately -0.09%. The stock has fluctuated between a low of $43.41 and a high of $46.395 during the trading day [3]. - Over the past year, SMR has experienced significant price movement, with a high of $57.42 and a low of $11.08, indicating both growth potential and market risk [4][5]. - NuScale's market capitalization is approximately $13.18 billion, with a trading volume of 14.99 million shares, reflecting high investor interest and liquidity [4].

Core Viewpoint - Bloom Energy Corp. has experienced significant stock price increases due to the AI hype cycle, but analysts caution that the rally is not supported by strong fundamentals [1][2]. Financial Performance - In Q2, Bloom Energy reported adjusted earnings of $0.10 per share, exceeding the consensus estimate of $0.01, and a revenue increase of 19.5% year-on-year to $401.2 million, surpassing analysts' expectations of $378.0 million [5]. Valuation Concerns - The stock currently trades at a high multiple of 99.9x 2025E EV/EBITDA, which is more expensive than competitors like GE Vernova and Nvidia, despite Bloom's weaker revenue growth and margins [3]. Revenue Guidance - The company's revenue guidance for 2025 is projected to be between $1.65 billion and $1.85 billion, which does not align with its elevated valuation [3]. Competitive Landscape - Competitive pressure is increasing from established players such as Caterpillar, Cummins, Rolls Royce, and GE Vernova, which offer better pricing, speed, and reliability, particularly in the niche co-location segment of the data center market [4]. Market Dynamics - On-site power generation remains a niche market, with only 6% of 540 tracked data centers utilizing co-located generation, while turbines and reciprocating engines dominate due to lower costs [6].

Core Viewpoint - The stock of Oklo surged by 63.5% following the announcement of a U.K.-U.S. partnership to advance nuclear energy technology and reduce permitting wait times [1][2]. Group 1: U.K. and U.S. Partnership - A memorandum of understanding was established between the U.K. and U.S. to collaborate on nuclear energy development, announced during President Trump's visit to the U.K. [2] - The U.K. aims to reduce its reactor licensing timeline from three to four years to just two years, while the U.S. has set an 18-month target for review procedures [3]. Group 2: Impact on Oklo - The streamlined licensing process presents a significant opportunity for Oklo, as the company specializes in compact fast reactor designs, positioning it well to benefit from these changes [6]. - Despite the positive outlook, Oklo has not yet generated meaningful revenue and is currently valued based on potential rather than actual performance [7]. Group 3: Geopolitical Context - The agreement also addresses the need to reduce reliance on Russian nuclear fuel, with both nations committing to eliminate Russian fuel imports by 2028 [4].

Core Viewpoint - NuScale Power's second-quarter earnings report disappointed investors, leading to a significant drop in stock price, indicating that the company remains a speculative long-term investment prospect [1][6]. Financial Performance - Analysts had forecasted NuScale to generate approximately $11.7 million in revenue, but the actual revenue reported was only $8.1 million, resulting in a loss of $0.13 per share [1][3]. - The company has not yet built any reactors, and thus, earnings were not expected; however, revenue was weaker than anticipated [3]. Cash Management - NuScale has consumed $56.1 million in cash during the first half of 2025, which is less than the cash burned in the same period of 2024, suggesting a potential improvement in cash management [4]. - The company ended the quarter with $489.9 million in cash, cash equivalents, and investments, which is sufficient to sustain operations for nearly five more years at the current cash-burn rate [4]. Market Reactions - Investors are selling NuScale stock due to the absence of significant new announcements in the earnings report and concerns regarding Fluor potentially flooding the market with shares after converting 15 million Class B shares into Class A shares [5]. - The overall sentiment remains that the company's success will depend on its ability to develop and market small modular reactors in the future, making the recent earnings report less impactful [6].

Core Insights - The U.S. government and major tech companies are supporting nuclear energy expansion to drive economic growth and support the energy demands of artificial intelligence [1][2][8] - The U.S. aims to triple nuclear energy capacity by 2050, with recent executive orders to accelerate this initiative [2] - Major tech firms like Meta, Microsoft, and Amazon are entering nuclear energy agreements to support their AI operations while reducing fossil fuel reliance [3][4] Industry Overview - The global investment in clean energy technologies is projected to reach $2.5 trillion by 2025, driven by significant capital expenditures from tech companies [5] - Nuclear energy is seen as a critical component in the transition to a sustainable energy landscape, particularly in relation to AI growth [5] Company Insights - Mirion Technologies specializes in radiation safety and is positioned to benefit from the nuclear energy industry's expansion, with a focus on next-generation nuclear reactors [7][9] - Mirion's revenue from nuclear power is expected to account for approximately 40% in 2024, with projected sales growth of over 5% in 2025 [15] - Rolls-Royce has seen significant stock growth and is leveraging its expertise in nuclear propulsion to develop small modular reactors, with a projected 31% growth in adjusted earnings for FY25 [16][21]

Core Insights - The global clean energy sector is evolving, with nuclear energy stocks like Oklo Inc. and NuScale Power gaining attention due to rising government support and investment in small modular and advanced nuclear technologies [1][2] Summary of Oklo Inc. (OKLO) - Recent Achievements: Oklo signed a Memorandum of Understanding with Korea Hydro & Nuclear Power to support the development of its Aurora powerhouse and completed borehole drilling for site characterization at Idaho National Laboratory [4][5] - Financial Stability: As of Q1 2025, Oklo had cash and cash equivalents of $201 million, down from $228 million at the end of 2024, but reported no notable debt, indicating solid financial stability [7] - Challenges: Oklo has not yet started generating revenues, with its first Aurora powerhouse expected to go live in 2027, and faces high operating costs [8] Summary of NuScale Power Corporation (SMR) - Recent Achievements: NuScale reported a narrower loss per share compared to the prior year and an impressive year-over-year revenue growth of 857.1%, being the only small modular reactor company with U.S. Nuclear Regulatory Commission design approval [9][10] - Financial Stability: As of Q1 2025, NuScale had cash and cash equivalents of $527 million, up from $447 million at the end of 2024, and reported no notable debt, indicating strong financial stability [11] - Challenges: NuScale has yet to secure a firm commercial order but expects its first order this year, while also facing industry-wide challenges [12] Earnings Per Share (EPS) Estimates - Oklo's 2025 EPS estimate is a loss of 42 cents, an improvement from a loss of 74 cents the previous year, with estimates trending upward [13] - NuScale's 2025 EPS estimate is a loss of 41 cents, a deterioration from earnings of 42 cents the previous year, with estimates remaining constant [14] Stock Performance and Valuation - Over the past three months, SMR has outperformed OKLO with a 128.9% increase compared to OKLO's 88%, but OKLO has shown a 437.4% increase over the past year compared to SMR's 306.1% [17] - SMR's valuation is more attractive, with a trailing 12-month Price/Book ratio of 18.97X compared to OKLO's 28.55X [18] Investment Recommendation - NuScale is currently viewed as the more attractive investment opportunity due to its revenue generation, stronger cash position, and favorable valuation compared to Oklo, which is still in the pre-revenue stage [19][20]