A U.S.–Saudi nuclear pact and datacenter offtake lifted the operating-reactor complex, with Constellation up 5%, while GE Vernova's profit miss made it the lone heavy name in a broadly green tape.

Constellation Energy led, up 4.8% to $274.90, at the front of a nuclear-wide bid after the administration unveiled a 30-year U.S.–Saudi nuclear-cooperation pact that hands U.S. firms lead roles in Gulf build-outs — layered on Constellation's own datacenter-demand story, including a Walmart power agreement tied to its Dresden plant (~176 MW with planned uprates) and a July 16 venture stake in SMR developer Blue Energy. Constellation owns the restarts-and-utilities chokepoint — the operating reactors and relicensing/uprate optionality that are the fastest megawatts to market — and policy tailwinds plus datacenter offtake are precisely what re-rate that fleet.

GE Vernova was the day's outlier to the downside, off 8.7% to $985.03 after its Q2: revenue of $11.1B (+22%) and record orders of $24.2B, but GAAP EPS of $2.47 missed the ~$3.2 consensus as the Wind unit dragged; it raised full-year revenue guidance. In the nuclear frame, GEV rides the conversion/deconversion and fuel-fabrication tiers through its BWRX-300 SMR and fuel ambitions, so the drop was a valuation reset on a stretched multiple rather than a nuclear-demand signal — the orders and backlog both set records.

Beyond GEV the complex was broadly green. Huntington Ingalls (naval reactors) +3.2% to $277.28, Talen +3.1% to $377.41, NexGen (NXE) +2.9% to $9.44, PSEG +2.8% to $79.58, Vistra +2.7% to $166.74, Silex +2.5% to $17.06, and Denison +2.0% to $3.05. The fuel-cycle names firmed with the pact: Cameco +1.9% to $90.37, UEC +1.9% to $9.73, and Centrus (LEU) +1.8% to $174.28. The only other soft spots were Japan's JGC (JPSWY) -4.2% and ATI -0.8%.

Earnings now dominate the calendar: NextEra July 29; Constellation, Mirion, and ATI July 30; Cameco July 31, where the Westinghouse equity contribution is the key line. BWX Technologies reports August 3, Centrus August 4, and Talen and X-Energy — X-Energy's first full quarter public — August 6, with Oklo (Aug 10) and NuScale (Aug 12) rounding out the SMR reads. Watch whether the Saudi pact translates into named U.S. contractors as the prints land.