← Back to Archive  ·  lzalpha.com
FRI · JUL 24, 2026 · 06:00 EST · ISSUE #204

The overnight tape is dominated by one unusually large congressional energy exit and a stack of 8-Ks where the risk is mostly in financing, rights changes, and distress mechanics rather than headline-grabbing events. Congressional and 8-K data are current to July 23; the insider feed has fresh Form 4 headers but no parsed transaction economics, so those entries are not treated as conviction buys or sells.

Signal Tracker
How last week's featured signals performed since we flagged them.
Type Ticker Signal Flagged Then Now Return
8-KRGENRepligen Corp2026-07-23$136.99$137.60▲ 0.4%
8-KMTBM&T BANK CORP2026-07-22$249.44$245.97▼ 1.4%
8-KMGYMagnolia Oil & Gas Corp2026-07-21$25.53$25.76▲ 0.9%
CGSPCXRep. William R. Timmons IV (R-SC2026-07-21$119.85$118.24▼ 1.3%
CGXOMRep. Kevin Hern (R-OK)2026-07-20$148.36$156.89▲ 5.7%
CGDUKSen. Thomas H Tuberville (R-AL)2026-07-19$125.01$129.26▲ 3.4%
8-KJSPRJasper Therapeutics, Inc.2026-07-18$0.77$0.73▼ 5.8%
CGAWKSen. Thomas H Tuberville (R-AL)2026-07-18$134.33$134.41▲ 0.1%
Congressional Trades
CongressAlan Armstrong (party/state N/A) — WMB STOCK Sell

Alan Armstrong disclosed a partial sale of Williams Companies common stock held jointly, valued at $5,000,001 - $25,000,000. The transaction occurred on 2026-06-24 and was filed on 2026-07-21.

This is the largest disclosed trade in the dataset by a wide margin and lands in a politically sensitive energy-infrastructure name. No party, state, or committee metadata was supplied, so the signal is primarily size, sector exposure, and timing.

Ticker: WMBAmount: $5,000,001 - $25,000,000Type: STOCKFiled: 2026-07-21
$75.25-0.07%52W $55.82 – $80.08
CongressAlan Armstrong (party/state N/A) — WMB CALL OPTION Sell

Alan Armstrong disclosed a full sale of Williams Companies call options with a $75 strike expiring 2026-08-21, valued at $250,001 - $500,000. The transaction occurred on 2026-06-22 and was filed on 2026-07-21.

The combination of a large common-stock sale and a full call-option sale suggests a broad reduction in Williams exposure rather than routine trimming. Watch whether the trade preceded energy-policy headlines, pipeline news, or volatility around Williams' next reporting cycle.

Ticker: WMBAmount: $250,001 - $500,000Type: CALL OPTIONFiled: 2026-07-21
$75.25-0.07%52W $55.82 – $80.08
CongressAlan Armstrong (party/state N/A) — AAPL STOCK Buy

Alan Armstrong disclosed a purchase of Apple common stock for $250,001 - $500,000. The trade occurred on 2026-03-27, was filed on 2026-07-21, and was marked late after 116 days.

The late filing matters because Apple has moved materially since late March, with the dataset showing a 29.29% return since the transaction. Apple remains exposed to AI-device positioning, antitrust scrutiny, China demand, and upcoming earnings.

Ticker: AAPLAmount: $250,001 - $500,000Type: STOCKFiled: 2026-07-21
$321.66+0.17%52W $201.50 – $334.99
CongressAlan Armstrong (party/state N/A) — GLW STOCK Sell

Alan Armstrong disclosed a full sale of Corning common stock for $100,001 - $250,000. The transaction occurred on 2026-03-27, was filed on 2026-07-21, and was marked late after 116 days.

Corning sits at the intersection of optical fiber, data-center infrastructure, and specialty glass, making the timing notable against the AI-infrastructure trade. The dataset shows GLW up 13.41% since the transaction and 22.81% over 30 days.

Ticker: GLWAmount: $100,001 - $250,000Type: STOCKFiled: 2026-07-21
$156.06-0.08%52W $54.89 – $271.78
CongressAlan Armstrong (party/state N/A) — ASML STOCK Buy

Alan Armstrong disclosed a purchase of ASML Holding N.V. New York Registry Shares for $50,001 - $100,000. The trade occurred on 2026-03-30, was filed on 2026-07-21, and was marked late after 113 days.

ASML is a choke-point asset in advanced semiconductor manufacturing, so congressional exposure to the name is always worth flagging. The dataset shows ASML up 43.39% since the transaction, making the delayed disclosure especially relevant.

Ticker: ASMLAmount: $50,001 - $100,000Type: STOCKFiled: 2026-07-21
$1,803.00-1.30%52W $683.48 – $1,999.96
Also Notable
LawmakerTickerActionAmountFiledChartFiling
Alan ArmstrongGOOGPurchase2026-07-21Chart ↗Filing ↗
Alan ArmstrongBRK.BPurchase2026-07-21Chart ↗Filing ↗
Alan ArmstrongPSTGSale (full)2026-07-21Chart ↗Filing ↗
Alan ArmstrongNDAQSale (full)2026-07-21Chart ↗Filing ↗
Alan ArmstrongNEESale (full)2026-07-21Chart ↗Filing ↗
Alan ArmstrongNVDAPurchase2026-07-21Chart ↗Filing ↗
Alan ArmstrongPSXSale (full)2026-07-21Chart ↗Filing ↗
Alan ArmstrongPNCSale (full)2026-07-21Chart ↗Filing ↗
Alan ArmstrongTDYSale (full)2026-07-21Chart ↗Filing ↗
Alan ArmstrongCDNSSale (full)2026-07-21Chart ↗Filing ↗
Insider Buys
Insider BuyA TSMC Form 4 hit the tape, but the feed lacks the actual trade economics.

A Form 4 was filed for Bor-Zen Tien and TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD with period ending 2026-07-21. The provided feed does not include share count, average price, transaction code, or total value.

This is not a primary insider signal until the underlying transaction details are parsed. TSMC is a systemically important semiconductor name, so any confirmed open-market purchase or large sale would be market-relevant.

Ticker: N/AShares: N/AAvg Price: N/AFiled: 2026-07-23
Insider Buy3M has a fresh Form 4, but no actionable transaction detail in the feed.

A Form 4 was filed for Christian T Goralski Jr and 3M CO with period ending 2026-07-22. The provided feed does not include share count, average price, transaction code, or total value.

Without the transaction economics, this cannot be read as insider conviction or distribution. The name is still worth monitoring because 3M remains sensitive to legal-liability cleanup, margin recovery, and industrial demand.

Ticker: N/AShares: N/AAvg Price: N/AFiled: 2026-07-23
Insider BuyDomino's shows a new Form 4 header, not a usable buy-or-sell signal yet.

A Form 4 was filed for Kelly E Garcia and DOMINOS PIZZA INC with period ending 2026-07-22. The provided feed does not include share count, average price, transaction code, or total value.

The filing needs parsed transaction lines before investors can separate routine equity compensation from an open-market trade. Domino's remains a consumer-spending and margin read-through name, so confirmed insider activity would matter.

Ticker: N/AShares: N/AAvg Price: N/AFiled: 2026-07-23
Insider BuyMillerKnoll filed a Form 4 with no parsed trade detail available.

A Form 4 was filed for Jeffrey M Stutz and MILLERKNOLL, INC. with period ending 2026-07-22. The provided feed does not include share count, average price, transaction code, or total value.

This should not be treated as an insider sentiment signal until the actual transaction is visible. MillerKnoll is levered to office, furnishings, and corporate capex trends, making confirmed insider purchases more meaningful than routine award activity.

Ticker: N/AShares: N/AAvg Price: N/AFiled: 2026-07-23
Insider BuyByrna has a fresh Form 4, but the transaction fields are missing.

A Form 4 was filed for Herbert Hughes and Byrna Technologies Inc. with period ending 2026-07-22. The provided feed does not include share count, average price, transaction code, or total value.

Because shares, price, and value are unavailable, this ranks as a watchlist item rather than a primary insider signal. If later parsing shows an open-market buy, it would carry more weight than a routine equity grant or option exercise.

Ticker: N/AShares: N/AAvg Price: N/AFiled: 2026-07-23
Also Notable
Company / IssuerFiledSource
DOMINOS PIZZA INC2026-07-23EDGAR ↗
Byrna Technologies Inc.2026-07-23EDGAR ↗
BlackRock Private Investments Fund2026-07-23EDGAR ↗
Nova Minerals Corp2026-07-23EDGAR ↗
B&R Technology Merger Corp.2026-07-23EDGAR ↗
Byrna Technologies Inc.2026-07-23EDGAR ↗
3M CO2026-07-23EDGAR ↗
Byrna Technologies Inc.2026-07-23EDGAR ↗
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD2026-07-23EDGAR ↗
MILLERKNOLL, INC.2026-07-23EDGAR ↗
SEC Filings
SEC 8-KSleep Number Corp — Sleep Number's new 8-K lands under a bankruptcy-style ticker and a material agreement item.

Sleep Number Corp filed an 8-K for period ending 2026-07-18, reporting Item 1.01 with Exhibit 10.1. The ticker shown in the filing feed is SNBRQ.

The Q suffix signals distress context, and Item 1.01 can carry critical covenant, restructuring, or financing terms that are easy to miss in exhibit language. Watch the Exhibit 10.1 agreement for liquidity constraints, lender protections, or operating restrictions.

Ticker: SNBRQRisk: HIGHForm: 8-KFiled: 2026-07-23
$0.02-33.33%52W $0.01 – $13.94
SEC 8-KBank of New York Mellon Corp — BNY disclosed security-holder rights and charter changes in a dense 8-K.

Bank of New York Mellon Corp filed an 8-K for period ending 2026-07-22 covering Items 3.03, 5.03, 8.01, and 9.01, with Exhibit 1.1 attached. The filing feed lists BNY and BNY-PK.

Item 3.03 is the key flag because it addresses material modifications to rights of security holders, often buried beneath routine capital-markets documentation. Watch whether the preferred-security structure, governance language, or capital instrument terms change investor economics.

Ticker: BNYRisk: MEDIUMForm: 8-KFiled: 2026-07-23
$160.11+0.96%52W $98.40 – $163.77
SEC 8-KSOUTHERN CALIFORNIA EDISON Co — Southern California Edison is back in the recovery-funding lane.

SOUTHERN CALIFORNIA EDISON Co and SCE Recovery Funding LLC filed an 8-K for period ending 2026-07-21 covering Items 8.01 and 9.01, with Exhibit 1.1. The filing feed lists preferred tickers SCE-PG, SCE-PL, SCE-PM, and SCE-PN.

Recovery funding structures can shift cost recovery, financing burden, and regulatory risk across stakeholders, and the details usually sit inside underwriting and securitization exhibits. Watch for ratepayer-backed obligations, wildfire-cost recovery mechanics, and any change in regulatory assumptions.

Ticker: SCE-PGRisk: MEDIUMForm: 8-KFiled: 2026-07-23
$16.89-0.88%52W $16.03 – $19.75
SEC 8-KNORTHRIM BANCORP INC — Northrim filed an agreement-heavy 8-K with an acquisition exhibit attached.

NORTHRIM BANCORP INC filed an 8-K for period ending 2026-07-22 covering Items 1.01, 7.01, and 9.01, with Exhibit 2.1. Exhibit 2.1 is typically where merger or acquisition agreement terms are filed.

For a bank, deal terms can create credit, integration, capital, and regulatory-approval risk that are not obvious from the headline. Watch the agreement for pricing, termination rights, closing conditions, and any capital or balance-sheet commitments.

Ticker: NRIMRisk: MEDIUMForm: 8-KFiled: 2026-07-23
$27.15-2.41%52W $19.60 – $30.82
SEC 8-KSummit Therapeutics Inc. — Summit filed a material agreement tied to an underwriting exhibit.

Summit Therapeutics Inc. filed an 8-K for period ending 2026-07-23 covering Items 1.01 and 9.01, with Exhibit 1.1 attached. The filing feed identifies the company as SMMT.

For a biotech, underwriting agreements often point to capital raises, dilution, or balance-sheet positioning ahead of clinical or regulatory milestones. Watch the size, pricing, lockups, and use-of-proceeds language in Exhibit 1.1.

Ticker: SMMTRisk: MEDIUMForm: 8-KFiled: 2026-07-23
$14.98+5.49%52W $12.55 – $30.98
Also Notable
Company / IssuerFiledSource
FIVE STAR BANCORP (FSBC)2026-07-23EDGAR ↗
Nissan Auto Lease Trust 2026-B2026-07-23EDGAR ↗
SCE Recovery Funding LLC2026-07-23EDGAR ↗
Vireo Growth Inc. (VREOF)2026-07-23EDGAR ↗
Magnolia Oil & Gas Corp (MGY)2026-07-23EDGAR ↗
Bridgecrest Lending Auto Securitization Trust 2026-32026-07-23EDGAR ↗
Ford Credit Auto Lease Trust 2026-B2026-07-23EDGAR ↗
HF Foods Group Inc. (HFFG)2026-07-23EDGAR ↗
Southern Cross Acquisition I Corp. (NCO)2026-07-23EDGAR ↗
Ford Credit Auto Lease Trust 2026-B2026-07-23EDGAR ↗
Market Snapshot · Previous Session
S&P 500
7,408.30
-1.21%
Nasdaq
25,137.69
-2.15%
Dow Jones
51,711.65
-0.97%
VIX
18.73
+0.16%
10-Yr Yield
4.70
+0.99%
AAPL$321.66+0.17%
MSFT$381.58-0.22%
NVDA$208.76+0.37%
AMZN$233.66-0.29%
GOOGL$317.69-0.49%
META$606.10-0.13%
TSLA$319.69-1.33%
NFLX$68.89+0.38%
JPM$349.90+0.11%
AMD$539.69-1.64%
Market Movers · Previous Session
📈 Top Gainers
NVCR+28.4%$19.99
CLF+16.0%$10.96
MEDP+14.7%$605.82
EQPT+11.9%$19.40
IMAX+11.9%$43.96
LMT+10.5%$568.59
ALLE+10.4%$154.57
WEX+10.1%$171.47
URI+10.1%$1,139.71
KALU+9.9%$180.60
MBX+9.0%$63.57
TMO+8.7%$572.32
DGX+8.6%$227.90
ARGX+8.6%$924.60
HRI+8.1%$163.25
MRCY+7.5%$106.34
DHR+7.5%$192.50
UTI+7.5%$38.67
RTX+7.3%$209.16
PONY+7.2%$7.32
📉 Top Losers
LBRT-22.0%$19.62
ACI-21.6%$11.44
STM-18.7%$53.49
MBLY-14.9%$7.47
TSLA-14.5%$319.69
QS-12.9%$5.12
XMTR-12.1%$86.51
CHRN-11.6%$22.57
TMUS-10.8%$170.42
MOH-9.7%$200.29
BBAR-9.6%$18.86
AUR-9.4%$5.99
ROL-9.3%$39.44
SEZL-8.7%$159.01
AAL-8.3%$13.55
PI-8.1%$126.82
DOCN-8.1%$131.15
COLD-7.8%$14.10
DOV-7.8%$197.80
FSV-7.4%$131.14
Disclaimer  ·  LZ Alpha is published for informational purposes only. Nothing in this newsletter constitutes financial, investment, or legal advice. All data is sourced from public disclosures (STOCK Act filings, SEC EDGAR). Trading involves risk of loss. Always conduct your own research and consult a qualified financial advisor before making any investment decision.
LZ ALPHA

The Signal. Every Morning. Before the Bell.

© 2026 LZ Alpha  ·  Intelligence, not advice  ·  lzalpha.com