After Hours Report

The stock market had an eventful session today that saw the S&P 500 (+0.3%) and Nasdaq Composite (+0.3%) finish significantly below their session highs as mega-cap tech faced considerable afternoon profit taking. Broad strength helped the DJIA (+0.6%) finish closer to its own session high, though most pockets of the market closed off of their best levels. 

Despite facing a considerable pullback of their own, semiconductor names were still one of the day's biggest winners. An impressive earnings report from Taiwan Semiconductor Manufacturing (TSM 341.64, +14.53, +4.44%) precipitated the sharp early gains across chipmakers and other AI plays. Notably, the company expects between $52 billion and $56 billion in capital spending in 2026, which provided a boost to the AI trade today. 

The PHLX Semiconductor Index (+1.8%) traded as much as 3.9% higher, though it found itself in the crosshairs of some selling activity this afternoon. The broader information technology sector (+0.5%) shed the bulk of its early gain after trading over 1.5% higher today. 

The pullback did somewhat coincide with comments from Commerce Secretary Howard Lutnick, who said in a CNBC interview that semiconductor companies without production in the U.S. will likely face a 100% tariff rate. However, the space was likely due for some profit-taking after a hot start to 2026 that had the PHLX Semiconductor Index up over 12% for the year. 

KLA Corporation (KLAC 1544.96, +110.46, +7.70%) still managed to capture the widest gain across S&P 500 names today, supported by Wells Fargo upgrading the stock to Overweight from Equal Weight with a $1600 target, while Morgan Stanley upgraded shares to Overweight from Equal Weight with a $1697 target.

Additionally, NVIDIA (NVDA 186.99, +3.85, +2.10%) remained a mega-cap standout despite a tough afternoon for the market's largest names. The Vanguard Mega Cap Growth ETF (+0.1%) finished flattish after moving as much as 0.7% higher. 

Mega-cap weakness saw the consumer discretionary sector (+0.4%) finish with about half of its previous gain, while a retreat in Alphabet (GOOG 333.16, -3.15, -0.94%) sent the communication services sector (-0.4%) lower. 

Seven total S&P 500 sectors closed with gains, with the defensive utilities sector (+1.0%) capturing the widest gain as it was largely resilient to the afternoon sell-off. 

Cyclical sectors finished mostly higher, with the industrials sector (+0.9%) finishing near the top of the leaderboard. Airline names such as Delta Air Lines (DAL 71.34, +2.85, +4.16%) and United Airlines (UAL 116.02, +5.27, +4.76%) outperformed today as they rebounded from previous losses this week that followed Delta's earnings release on Monday. 

The financials sector (+0.4%) also closed with a gain, though it was one of many sectors to finish well off of its best levels.  Morgan Stanley (MS 191.29, +10.51, +5.81%), Goldman Sachs (GS 975.88, +43.21, +4.63%), and BlackRock (BLK 1156.90, +65.05, +5.96%) all finished sharply higher after topping earnings estimates this morning, providing the financials sector with some reprieve after what has been a tough week. 

Meanwhile, the energy sector (-0.9%) closed with the widest loss as oil prices continued to fall sharply in response to a de-escalation of tensions between the U.S. and Iran that makes a U.S. strike seem unlikely for the time being.  Crude oil futures settled today's session $2.79 lower (-4.5%) at $59.09 per barrel. 

The health care sector (-0.6%) was another laggard, though its weakness was exacerbated by a few stock-specific developments. Eli Lilly (LLY 1032.72, -40.58, -3.78%) provided weak leadership after Reuters reported the FDA has delayed its approval decision of the company's weight loss pill to April 10. Boston Scientific (BSX 90.00, -3.74, -3.99%) was another laggard following the announcement of its agreement to acquire Penumbra (PEN 350.42, +37.00, +11.80%) in a deal valued at approximately $14.5 billion.

Outside of the S&P 500, the Russell 2000 (+0.9%) and S&P Mid Cap 400 (+1.2%) also ceded some of their early strength, though they were much more resilient to the pullback and once again decidedly outperformed the larger-cap major averages. 

The trend of broadening leadership continues to pervade the market as mega-cap stocks struggle in 2026. The Vanguard Mega Cap Growth ETF is down 0.9% year-to-date, while the Russell 2000 (+7.8% year-to-date) and S&P Mid Cap 400 (+6.4% year-to-date) have surged. This dynamic is also evident in the widening performance gap between the market-cap-weighted S&P 500 (+1.5% year-to-date) and the S&P 500 Equal Weight Index (+4.2% year-to-date), as cyclical sectors continue to post solid gains on expectations for a strong economy in 2026, even with recent Fed commentary pointing to several months before the next potential rate cut. 

U.S. Treasuries had a mixed showing on Thursday, with relative weakness in the front end lifting the 2-year yield to its highest settlement since early December while the long bond outperformed, recording its third consecutive gain. The 2-year note yield settled up five basis points to 3.56%, the 10-year note yield settled up two basis points to 4.16%, and the 30-year note yield settled down one basis point to 4.79%. 

• Russell 2000: +7.8% YTD
• S&P Mid Cap 400: +6.4% YTD
• DJIA: +2.9% YTD
• S&P 500: +1.5% YTD
• Nasdaq Composite: +1.2% YTD

Reviewing today's data:

• Weekly Initial Claims 198K (Briefing.com consensus 210K); Prior was revised to 207K from 208K, Weekly Continuing Claims 1.884 mln; Prior was revised to 1.903 mln from 1.914 mln
  • The key takeaway from the report is that it corroborates a low firing-low hiring environment that will keep the Fed on watch but also on hold in terms of a rate cut this month and possibly until June, which is when the fed funds futures market is projecting the first cut in 2026.
• January Philadelphia Fed Index 12.6 (Briefing.com consensus -5.0); Prior was revised to -8.8 from -10.2
• November Import Prices 0.4%; Prior 0.1%
• November Import Prices ex-oil 0.6%; Prior 0.1%
• November Export Priices 0.5%; Prior 0.0%
• November Export Prices ex-ag. 0.4%; Prior 0.0%
• January Empire State Manufacturing 7.7 (Briefing.com consensus 1.0); Prior was revised to -3.7 from -3.9

Overseas:

• Europe: DAX +0.4%, FTSE +0.5%, CAC -0.2%
• Asia: Nikkei -0.4%, Hang Seng -0.3%, Shanghai -0.3%

Commodities:

• Crude Oil -2.79 @ 59.09
• Nat Gas +0.02 @ 3.13
• Gold -11.30 @ 4624.10
• Silver +1.05 @ 92.41
• Copper -0.06 @ 5.99

After-Hours Spotlight:

• Capital Southwest Corp. (CSWC) issues upside 3Q26 EPS guidance...CSWC +0.2%
• Granite Constr (GVA) selected by the City of Tucson for the $157 mln 22nd Street Widening and Bridge Replacement Project in Tucson, Arizona...GVA +0.4%
• James Hardie (JHX) to optimize manufacturing footprint; expects annualized cost savings of $25 mln beginning Q1 FY27; reaffirms FY26 guidance...JHX -0.4%
• J.B. Hunt Transport (JBHT) beats by $0.09, reports revs in-line...JBHT -3.7%
• QXO, Inc (QXO) guides Q4 revenue in line with consensus; also announces common stock offering of $750 mln of shares of its common stock...QXO -4.2%
• Unusual Machines (UMAC) announces $2.1 mln order for drone components...UMAC +1.6%
• Verizon (VZ) and Frontier Communications (FYBR) have received all regulatory approvals and expect to close the acquisition on January 20, 2026...VZ +0.2%

Fair Value for Friday, January 16:

• S&P 500: 6,981
• Nasdaq 100: 25,705
• DJIA: 49,624

For a full rundown of today's market and after hours developments, see Live In Play

• Earnings/Guidance (Full Earnings Calendar):
  • Alamos Gold (AGI) Reports Fourth Quarter and Annual 2025 Production
  • Annexon (ANNX) provides investor updates in presentation
  • BlackRock (BLK) beats by $0.92, beats on revs; raises dividend; adds to buyback
  • B. Riley Financial (RILY) Reports Second Quarter 2025 Financial Results
  • Emergent BioSolutions (EBS) provides investor updates in presentation - sees 2025 revs $775-835 mln vs $813.93 mln consensus
  • First Horizon (FHN) beats by $0.06
  • First Majestic Silver (AG) reports 2025 production and 2026 outlook; increases dividend
  • Fortuna (FSM) achieves 2025 production guidance, delivering 317,001 GEO; issues 2026 outlook
  • Freightos Limited (CRGO) posts Q4 2025 KPIs above expectations, records continued platform growth
  • General Motors (GM) reports FY24 results from its Mexico unit
  • Goldman Sachs (GS) beats by $2.31, misses on revs; increases dividend to $4.50/share from $4.00/share
  • H.B. Fuller (FUL) beats by $0.05, reports revs in-line; guides FY26 EPS in-line, revs below consensus
  • Home Bancshares (HOMB) reports EPS in-line, beats on revs
  • Insteel Industries (IIIN) beats by $0.01, misses on revs
  • Legend Biotech (LEGN) provides investor updates in presentation - details 2026 priorities
  • Main Street Capital (MAIN) sees Q4 EPS above consensus
  • Matson (MATX) sees strong Q4, sees 2026 operating income near 2025 level
  • Morgan Stanley (MS) beats by $0.25, reports revs in-line
  • Penumbra (PEN) sees Q4 revs above consensus
  • Taiwan Semiconductor Manufacturing (TSM); guides Q1 revs above consensus
  • Vaalco Energy (EGY) reports 2025 performance, drilling success and cash growth
• General News
  • President Trump, in an interview, says he has no plans to fire Fed Chairman Jerome Powell. He said Kevin Warsh and Kevin Hassett are frontrunners for Fed Chair, according to Reuters
  • US Ambassador to Belgium Bill White says the US and Greenland will likely reach a beneficial agreement, according to Bloomberg
  • President Trump signs proclamation to address national security concerns with respect to semiconductors, says he may impose broader tariffs on semiconductors in near future
  • President Trump signs executive order ordering the U.S. Secretary of Commerce and U.S. Trade Representative to jointly negotiate agreements with trading partners to address the threatened impairment of national security with respect to imports of processed critical minerals and their derivative products from any country
  • Senate Republicans block resolution that would have restricted Venezuela strikes. Key senators got assurances that there will be no ground troops in Venezuela, according to NBC News
  • President Trump says "This morning I had a very good call with the Interim President of Venezuela, Delcy Rodríguez. We are making tremendous progress as we help Venezuela stabilize and recover. Many topics were discussed, including oil, minerals, trade, and, of course, national security. this partnership between the United States of America and Venezuela will be a spectacular one for all"
  • The House passes a bill that funds two government departments ahead of the January 30th funding deadline. The House has four appropriations bills left to complete, according to Axios
  • Senate is far away from deal to extend Affordable Care Act subsidies, according to PunchBowl News
  • Senate Banking Chair Tim Scott postponed the cryptocurrency vote, according to Politico
  • Treasury relerases readout from Secretary of the Treasury Scott Bessent’s Meeting with Finance Minister Satsuki Katayama of Japan
  • President Trump says EU is "very unfair" to U.S. technology companies; cites EU fines
  • 20 people were charged with allegedly rigging college basketball games, according to NBC News
  • HHS aiming to reverse $2 bln in cuts for mental and substance abuse, according to WSJ
  • Israel and Arab states ask President Trump not to attack Iran, according to NY Times
  • Philadelphia Fed President Anna Paulson (voting FOMC member) supports holding rates unchanged, according to WSJ
  • AAR Corp (AIR): Trax expands Air Atlanta Icelandic relationship with eMobility suite and cloud hosting
  • Aecom Tech (ACM): Stantec-AECOM SIOP JV is awarded a $150,000,000 firm-fixed-price, indefinite-delivery/indefinite-quantity, architect-engineering contract
  • Agenus (AGEN) Board of Directors appointed Dr. Garo Armen, the Company's current Chairman and Chief Executive Officer to serve as the Company's interim Chief Financial Officer and Principal Financial Officer
  • Agenus (AGEN) Announces closing of $141 mln strategic collaboration with Zydus Lifesciences to advance BOT+BAL and strengthen U.S. manufacturing readiness
  • Allegiant Travel (ALGT) promotes senior leaders, establishes integration management office
  • Amazon (AMZN) aiming to challenge Saks' funding deal, according to Bloomberg
  • American Express (AXP) reports December card metrics
  • Automatic Data (ADP) authorizes purchase of $6 billion of its common stock
  • Axsome Therapeutics (AXSM) initiates FORWARD Phase 3 Trial of AXS-14 for the Management of Fibromyalgia
  • Bank of America (BAC) reported December card metrics
  • Becton Dickinson (BDX) receives FDA 510(k) clearance for EnCor EnCompass breast biopsy and tissue removal system
  • Blackstone (BX) aiming to provide EUR 4 bln for data center in Germany, according to Handelsblatt
  • Boeing (BA): Regulators are investigating Boeing's response to past failures of MD-11 components, according to WSJ
  • Bombardier (BDRBF) announces a new 126,000-square-foot, state-of-the-art manufacturing centre in Dorval, which marks a significant milestone in its growth strategy
  • Canadian Solar (CSIQ) confirms U.S. Patent Trial and Appeal Board invalidates Maxeon (MAXN) patents in favor of Canadian Solar
  • Centessa Pharma (CNTA) announces poster presentation of new preclinical data supporting expansion of OX2R agonist pipeline into neuropsychiatric indications
  • Chevron (CVX) expected to receive an expanded Venezuelan production license this week, according to Reuters
  • Churchill Capital Corp IX (CCIX): T2 and PlusAI team up to accelerate the deployment of level 4 autonomous trucks in Japan
  • Clearway Energy (CWEN) signs nearly 1.2 GW of long-term PPAs with Google (GOOG) across three states
  • Coinbase Global (COIN) CEO Brian Armstrong posts on X commenting that Coinbase doesn't support crypto market structure bill as it's currently written
  • DXC Technology (DXC) acknowledged a recent decision by the U.S. Court of Appeals for the Fifth Circuit, upholding an award to DXC's subsidiary, CSC, of approximately $194 million, for trade secret misappropriation by Tata Consultancy Services
  • Eli Lilly (LLY) weight loss drug decision date delayed by FDA to April 10; Disc Medicine (IRON) decision also delayed by two weeks, according to Reuters
  • Energy Fuels (UUUU) released the results of a new Bankable Feasibility Study for its planned Phase 2 circuit expansion
  • Ericsson (ERIC) proposes headcount reduction in Sweden to improve cost position
  • Ford Motor (F) and BYD (BYDDY) in discussions for hybrid battery partnership, according to WSJ
  • Freddie Mac Multifamily (FMCC) announces its 2025 production volume totaled $77.6 billion, a 17% increase over 2024
  • Galaxy Digital (GLXY) closes initial $75 mln on debut tokenized CLO
  • Genesco (GCO) announced a strategic transformation of its information technology operations
  • Graham (GHC) increases quarterly cash dividend to $1.88/share from $1.80/share
  • Granite Constr (GVA) announces it has been selected for a contract valued at approximately $66 million by the California Department of Transportation for a highway improvement project in Nevada County, California
  • Heineken (HEINY) has been formally notified by the Nicaraguan antitrust authority that FIFCO in Nicaraguan Brewing Holding transaction acquisition has been approved
  • Hersey (HSY) aiming to increase the market budget for key brands by 20, according to WSJ
  • Hilton (HLT) authorizes a $3.5 billion increase in the amount available for repurchases of common stock under Hilton’s existing stock repurchase program, bringing the total amount currently authorized for future repurchases to approximately $4.6 billion
  • Inseego (INSG) completes the repurchase of all of its outstanding Fixed-Rate Cumulative Perpetual Preferred Stock, Series E in exchange for a combination of cash, common stock of the company and senior secured notes
  • Intuit (INTU) opened its new Intuit TurboTax flagship store in New York City’s SoHo neighborhood
  • Johnson & Johnson (JNJ) announces topline results from the investigational Phase 3 MajesTEC-9 study of TECVAYLI
  • JPMorgan Chase (JPM) reported December card metrics
  • Kiniksa Pharmaceuticals (KNSA) appointed Ross Moat to the position of Chief Operating Officer and principal operating officer
  • Kinross Gold (KGC) proceeds with construction of Phase X, Curlew and Redbird 2
  • Mastercard (MA) and Visa (V) lose UK case from cross-border card fees, according to Reuters
  • Microsoft (MSFT): COMCO Secretariat launches preliminary investigation into Microsoft
  • Netflix (NFLX) and Sony Pictures Entertainment (SONY) enter new pay-1 deal with first-of-its-kind global reach; Netflix to be the exclusive Pay-1 streaming home of Sony Pictures’ feature films following full theatrical and home entertainment runs
  • NexGen Energy (NXE) Announces expansion of high-grade subdomain at Patterson Corridor East (PCE) and commencement of 2026 exploration program totalling 45,500 meters
  • Novo Nordisk A/S (NVO) has allocated up to DKK 5.5 billion (EUR 736 million) to BioInnovation Institute, institute for life science and deep tech innovation in Copenhagen
  • NVIDIA (NVDA): China drafting purchase rules for NVDA H200 chips, according to Nikkei Asia
  • OraSure (OSUR) confirms that Altai Capital has nominated two candidates, including the fund’s founder Rishi Bajaj, to stand for election to the Company’s Board of Directors at its 2026 Annual Meeting of Stockholders
  • Orla Mining (ORLA) announces results of the updated feasibility study and approves start of construction spending for the south railroad project
  • Oshkosh (OSK) receives a $53 mln order for Common Bridge Transporters
  • Paramount Skydance (PSKY) appoints Dennis Cinelli as CFO, effective January 15, 2026
  • Paramount Skydance (PSKY): Delaware judge declines to fast-track Paramount lawsuit seeking Warner Bros. (WBD) merger records, Reuters says
  • Peloton (PTON) and Respin Health announces new findings from a targeted study focused on women's health during perimenopause and menopauss
  • Profound Medical (PROF) announces that Mount Sinai Hospital has successfully treated its first prostate cancer patient with the TULSA-PRO system
  • Rio Tinto (RIO) and BHP explore Pilbara collaboration to unlock up to 200 mln tonnes of iron ore
  • Rio Tinto (RIO) and Amazon (AMZN) Web Services collaborate to bring low-carbon Nuton copper to U.S. data centres
  • Sanofi (SNY) secures China approvals for Myqorzo and Redemplo
  • SelectQuote (SLQT) announces that its SelectRx pharmacy recently reached a new, multiyear agreement with a significant, long-time PBM partner
  • SentinelOne (S) enters into settlement with the Israeli Tax Authority
  • Sigma Lithium (SGML): Brazil’s labor ministry orders closure of Sigma Lithium waste piles over safety concerns, potentially delaying mine restart, according to Reuters
  • Soluna Holdings (SLNH) signs MOU with Metrobloks, LLC to enter into a co-development partnership to build Project Kati 2, unlocking 100+ MW of AI and HPC capacity
  • Spotify (SPOT) raises premium subscriber rate to $12.99/month from $11.99/month
  • Teledyne Tech (TDY) wins up to $32 mln contract to equip Bulgaria’s Strykers
  • Tenaris (TS) announces that it is restarting heat treatment and finishing operations at its Koppel, PA manufacturing facility, reinforcing its commitment to supply domestically produced steel pipes for the US energy sector
  • Teva Pharma (TEVA) announces that the New England Journal of Medicine has published pivotal Phase 3 data on AJOVY, highlighting its efficacy and safety in children and adolescents with episodic migraine
  • TryHard Holdings (THH) signs cooperation MOU to launch Star Party brand in Japan
  • UGI Corp (UGI) enters into definitive agreement to divest its LPG distribution businesses in Czech Republic, Hungary, Poland, and Slovakia for approximately €48 mln
  • Under Armour (UAA) announces executive leadership changes to accelerate transformation; Kara Trent named Chief Merchandising Officer; Adam Peake named President, Americas
  • Verizon (VZ) says "The outage has been resolved... For those affected, we will provide account credits."
  • Walt Disney (DIS) announces creation of a new enterprise marketing and brand organization and names Asad Ayaz as Chief Marketing and Brand Officer

• Upgrades:
  • Analog Devices (ADI) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $340
    
  • Amplitude (AMPL) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $16
    
  • Applied Materials (AMAT) upgraded to Overweight from Equal Weight at Barclays, tgt $360
    
  • Asana (ASAN) upgraded to Buy from Neutral at Citigroup, tgt $16
    
  • Broadcom (AVGO) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $430
    
  • Calix (CALX) upgraded to Overweight from Neutral at JPMorgan, tgt $90
    
  • CI&T (CINT) upgraded to Buy from Neutral at UBS, tgt $7
    
  • Dell Technologies (DELL) upgraded to Overweight from Equal Weight at Barclays, tgt $148
    
  • Descartes Systems (DSGX) upgraded to Overweight from Equal Weight at Morgan Stanley
    
  • DraftKings (DKNG) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $49
    
  • Digital Realty (DLR) upgraded to Buy from Hold at HSBC, tgt $193
    
  • Entegris (ENTG) upgraded to Buy from Neutral at UBS, tgt $145
    
  • EssilorLuxottica (ESLOY) upgraded to Buy at Kepler Cheuvreux
    
  • F5 (FFIV) upgraded to Overweight from Neutral at JPMorgan, tgt $345
    
  • KLA Corp. (KLAC) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $1,600
    
  • Lam Research (LRCX) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $250
  • Millicom (TIGO) upgraded to Buy from Neutral at UBS, tgt $70
    
  • Monolithic Power (MPWR) upgraded to Overweight from Equal Weight at Wells Fargo
    
  • Nokia (NOK) upgraded to Overweight from Equal Weight at Morgan Stanley
    
  • Samsara (IOT) upgraded to Outperform from Neutral at BNP Paribas, tgt $40
    
  • SiTime (SITM) upgraded to Equal Weight from Underweight at Barclays
    
  • Southwest Gas (SWX) upgraded to Buy from Neutral at Citigroup, tgt $99
• Downgrades:
  • Albertsons (ACI) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $14
    
  • easyJet (ESYJY) downgraded to Sell from Hold at Deutsche Bank
    
  • Flutter Entertainment (FLUT) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $228
    
  • GAP Airports (PAC) downgraded to Neutral from Buy at Citigroup
    
  • GE HealthCare (GEHC) downgraded to Sell from Neutral at UBS, tgt $77
    
  • Leslie's (LESL) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $1.50
    
  • MoonLake Immunotherapeutics (MLTX) downgraded to Sell from Neutral at Goldman, tgt $10
    
  • Nutanix (NTNX) downgraded to Equal Weight from Overweight at Barclays, tgt $53
    
  • Repsol (REPYY) downgraded to Underperform from Sector Perform at RBC Capital
    
  • Rocket Lab (RKLB) downgraded to Sector Weight from Overweight at KeyBanc
    
  • Teck Resources (TECK) downgraded to Market Perform from Outperform at Raymond James
    
  • VTEX (VTEX) downgraded to Neutral from Buy at UBS, tgt $4
• Others:
  • AdvanSix (ASIX) initiated with a Hold at Truist, tgt $19
    
  • American Financial Group (AFG) initiated with an Overweight at Wells Fargo, tgt $165
    
  • Arm (ARM) initiated with an Outperform at RBC Capital
    
  • ASML (ASML) initiated with an Outperform at RBC Capital
    
  • Astera Labs (ALAB) initiated with an Outperform at RBC Capital
    
  • BankUnited (BKU) initiated with an Outperform at Raymond James, tgt $51
    
  • Broadcom (AVGO) initiated with a Sector Perform at RBC Capital, tgt $370
    
  • First BanCorp (FBP) assumed with a Neutral at Piper Sandler
    
  • Intel (INTC) initiated with a Sector Perform at RBC Capital, tgt $50
    
  • Kinsale Capital (KNSL) initiated with an Overweight at Wells Fargo, tgt $490
    
  • KLA Corp. (KLAC) initiated with a Sector Perform at RBC Capital, tgt $1,550
    
  • Lam Research (LRCX) initiated with an Outperform at RBC Capital
    
  • Lattice Semiconductor (LSCC) initiated with an Outperform at RBC Capital
    
  • LuxExperience (LUXE) initiated with a Buy at B. Riley, tgt $12
    
  • Marvell (MRVL) initiated with an Outperform at RBC Capital
    
  • Micron Technology (MU) initiated with an Outperform at RBC Capital
    
  • Nebius Group (NBIS) initiated with an Equal Weight at Morgan Stanley, tgt $126
    
  • NVIDIA (NVDA) initiated with an Outperform at RBC Capital
    
  • OFG Bancorp (OFG) assumed with a Neutral at Piper Sandler
    
  • Popular (BPOP) assumed with an Overweight at Piper Sandler
    
  • Qualcomm (QCOM) initiated with a Sector Perform at RBC Capital, tgt $180
    
  • Quantum Computing (QUBT) initiated with a Buy at Rosenblatt
    
  • Rigetti Computing (RGTI) initiated with a Buy at Rosenblatt
    
  • RLI Corp. (RLI) initiated with an Equal Weight at Wells Fargo, tgt $62
    
  • SanDisk (SNDK) initiated with a Sector Perform at RBC Capital, tgt $400
    
  • Silicon Labs (SLAB) initiated with a Sector Perform at RBC Capital, tgt $160
    
  • Skyworks Solutions (SWKS) initiated with a Sector Perform at RBC Capital, tgt $65
    
  • TOYO (TOYO) initiated with a Buy at H.C. Wainwright, tgt $18
    
  • West Coast Community Bank (WCCB) initiated with a Buy at Janney, tgt $52

• Econ Data (Friday):
  • 9:15 ET: December Industrial Production (Briefing.com consensus 0.2%; prior 0.2%) and Capacity Utilization (Briefing.com consensus 76.0%; prior 76.0%)
  • 10:00 ET: January NAHB Housing Market Index (Briefing.com consensus 40; prior 39)

• Earnings:
  • Monday (Jan 12)
    • Pre-Market: None
    • After-Hours: None
      
    Tuesday (Jan 13)
    • Pre-Market: BK CNXC DAL JPM
    • After-Hours: PXED
  • Wednesday (Jan 14)
    • Pre-Market: BAC C UCB WFC
      
    • After-Hours: FUL HOMB
  • Thursday (Jan 15)
    • Pre-Market: BLK FHN GS IIIN TSM MS
    • After-Hours: JBHT
  • Friday (Jan 16)
    • Pre-Market: MTB PNC RF STT
    • After-Hours: BOKF