After Hours Report

Updated: 29-Oct-24 16:54 ET
Alphabet up nicely on upbeat Q3 results; AMD sliding by 7% following Q3 report

The Nasdaq Composite reached a record close, settling 0.8% higher than yesterday. The S&P 500 rose 0.2%, or about ten points. Mega caps and chipmakers contributed to the upside moves. The PHLX Semiconductor Index (SOX) closed 2.3% higher and the Vanguard Mega Cap Growth ETF (MGK) settled 0.9% higher. 

Alphabet (GOOG 171.14, +2.80, +1.7%) was an influential winner ahead of its earnings report after today's close. 

Market internals reflect an underlying negative bias in today's trade. Decliners led advancers by a 2-to-1 margin at the NYSE and by a 4-to-3 margin at the Nasdaq. Also, the Dow Jones Industrial Average (-0.4%) and Russell 2000 (-0.3%) closed lower.

The price action in Treasuries kept buying in check in the equity market. Yields moved higher following a strong Consumer Confidence report for October, but ultimately settled little changed from yesterday after a strong $44 billion 7-yr note sale that made for a welcome respite from recent all-around weakness in auction demand and intraday trade. The 10-yr yield settled unchanged at 4.27% and the 2-yr yield declined two basis points to 4.12%.

Market participants were also digesting a mixed slate of earnings news. D.R. Horton (DHI 167.32, -13.06, -7.2%), Ford (F 10.41, -0.96, -8.4%), and Pfizer (PFE 28.46, -0.40, -1.4%) are some of the names that closed lower after reporting results, along with Dow component McDonald's (MCD 295.00, -1.79, -0.6%),

V.F. Corp (VFC 21.63, +4.60, +27.0%) and Royal Caribbean (RCL 210.10, +6.58, +3.2%) were some of the earnings-related winners today.

  • Nasdaq Composite: +24.7% YTD
  • S&P 500: +22.3% YTD
  • Dow Jones Industrial Average: +12.1% YTD
  • S&P Midcap 400: +13.0% YTD
  • Russell 2000: +10.4% YTD

Reviewing today's economic data:

  • August FHFA Housing Price Index 0.3%; Prior was revised to 0.2% from 0.1%
  • August S&P Case-Shiller Home Price Index 5.2% (Briefing.com consensus 5.1%); Prior 5.9%
  • October Consumer Confidence 108.7 (Briefing.com consensus 99.0); Prior was revised to 99.2 from 98.7
    • The key takeaway from the report is that the increase in confidence in October was broad-based across all age groups and most income groups, and featured a substantially more optimistic view about future business conditions than the prior month. That sets up to be a supportive component for consumer spending.
  • September JOLTS - Job Openings 7.443 mln; Prior was revised to 7.861 mln from 8.040 mln
  • September Adv. Intl. Trade in Goods -$108.2 bln; Prior was revised to -$94.2 bln from -$94.3 bln
  • September Adv. Retail Inventories 0.8%; Prior was revised to 0.7% from 0.5%
  • September Adv. Wholesale Inventories -0.1%; Prior 0.2%

Wednesday's economic calendar features:

  • 7:00 ET: Weekly MBA Mortgage Index (prior -6.7%
  • 8:15 ET: October ADP Employment Change (Briefing.com consensus 105,000; prior 143,000)
  • 8:30 ET: Advance Q3 GDP (Briefing.com consensus 3.0%; prior 3.0%) and advance Q3 GDP Chain Deflator (Briefing.com consensus 2.3%; prior 2.5%)
  • 10:00 ET: September Pending Home Sales (Briefing.com consensus 2.5%; prior 0.6%)
  • 10:30 ET: Weekly crude oil inventories (prior +5.47 mln)

Overseas:

  • Europe: DAX -0.3%, FTSE -0.8%, CAC -0.6%
  • Asia: Nikkei +0.6%, Hang Seng +0.5%, Shanghai -1.1%

Commodities:

  • Crude Oil -0.18 @ 67.21
  • Nat Gas +0.01 @ 2.86
  • Gold +24.50 @ 2781.30
  • Silver +0.48 @ 34.47
  • Copper unchanged @ 4.36

After-Hours Spotlight:

  • Advanced Micro Devices (AMD) reports EPS in-line, beats on revs; guides Q4 revs in-line... AMD down 7.0%
  • Alphabet (GOOG) beats by $0.28, beats on revs, Google Advertising revenue up 10.4%, Google Cloud revenue up 35%... GOOG up 4.3%
  • Caesars Entertainment (CZR) reports Q3 (Sep) results, misses on revs... CZR down 3.1%
  • Chewy (CHWY): Keith Gill liquidates stake (previously disclosed 6.6% passive stake on July 1)... CHWY down 2.1%
  • Chipotle Mexican Grill (CMG) beats by $0.02, reports revs in-line; comps +6.0%; reaffirms FY24 comp guidance... CMG down 3.6%
  • First Solar (FSLR) misses by $0.20, misses on revs; lowers FY24 guidance... FSLR down 3.6%
  • NerdWallet (NRDS) misses by $0.04, beats on revs; guides Q4 revs above consensus; approves up to $25 mln for repurchases... NRDS up 25.9%
  • O-I Glass (OI) misses by $0.08, misses on revs; lowers FY24 EPS below consensus... OI down 18.0%
  • Reddit (RDDT) beats by $0.23, beats on revs, Daily Active Uniques increased 47% yr/yr; guides Q4 revs above consensus... RDDT up 18.0%
  • Snap (SNAP) beats by $0.22, reports revs in-line; guides Q4 revs below consensus; authorized a stock repurchase program of up to $500 mln... SNAP up 5.5%
  • Stryker (SYK) beats by $0.10, beats on revs; guides FY24 EPS in-line... SYK up 3.8%
  • Qorvo (QRVO) beats by $0.03, beats on revs; guides DecQ EPS and revs below consensus; guides FY25 revs below consensus; taking actions, including factory consolidation and operating expense reductions... QRVO down 15.0%
  • Visa (V) beats by $0.13, beats on revs; increases dividend... V up 1.7%
Today's News Summary:

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

  • Earnings/Guidance (Full Earnings Calendar):
    • Adidas (ADDYY) reports Q3 results; revs rise 7% yr/yr
    • Agilysys (AGYS) beats by $0.04, beats on revs; raises FY25 revs above consensus
    • Allison Transmission (ALSN) partners with Ashok Leyland to introduce low-floor city buses
    • Amkor (AMKR) misses by $0.01, beats on revs; guides Q4 EPS below consensus, revs below consensus
    • Armstrong World Industries (AWI) beats by $0.06, reports revs in-line; guides FY24 EPS above consensus, revs in-line
    • Asbury Automotive (ABG) misses by $0.23, misses on revs
    • ATI Inc. (ATI) misses by $0.06, misses on revs; lowers FY24 EPS below consensus
    • Atlas Energy Solutions (AESI) reports Q3 (Sep) results, misses on revs; Board increases dividend and authorizes stock repurchase program up to $200 mln
    • Boot Barn Holdings (BOOT) misses by $0.01, reports revs in-line, same store sales increased 4.9%; guides Q3 EPS below consensus, revs in-line
    • BP (BP) beats by $0.02, misses on revs; announces share buyback
    • Brown & Brown (BRO) beats by $0.03, beats on revs
    • Cadence Design (CDNS) beats by $0.20, beats on revs; guides FY24 EPS in-line, revs in-line
    • Calix Networks (CALX) beats by $0.04, reports revs in-line; guides Q4 EPS in-line, revs in-line
    • Camping World (CWH) beats by $0.08, beats on revs
    • Capital Southwest Corp. (CSWC) beats by $0.01
    • CBIZ (CBZ) beats by $0.08, reports revs in-line; guides FY24 EPS in-line, revs in-line
    • CCC Intelligent Solutions (CCCS) beats by $0.01, reports revs in-line; guides Q4 revs in-line
    • CECO Environ. (CECO) misses by $0.06, misses on revs; lowers FY24 revs below consensus; guides FY25 revs above consensus; to acquire Profire Energy $125 mln cash
    • Check Point Software (CHKP) reports EPS in-line, revs in-line
    • Check Point Software (CHKP) provides Q4 in line guidance on conference call
    • Commvault Systems (CVLT) beats by $0.07, beats on revs; guides DecQ revs above consensus; guides FY25 revs above consensus
    • Corning (GLW) beats by $0.01, misses on revs; guides Q4 EPS above consensus, revs above consensus
    • Coya Therapeutics (COYA) announces that results from the placebo-controlled Phase 2 clinical trial of LD IL-2 in patients with mild to moderate Alzheimer's Disease were announced today at the 17th Clinical Trials on Alzheimer’s Disease Conference
    • Crane (CR) beats by $0.06, reports revs in-line; guides FY24 EPS in-line, reaffirms FY24 revs guidance
    • Crocs (CROX) beats by $0.50, beats on revs; guides Q4 EPS below consensus
    • CTS Corp (CTS) beats by $0.09, reports revs in-line; guides FY24 EPS in-line, lowers revs below estimate
    • CVR Energy (CVI) misses by $0.41, misses on revs; suspends dividend
    • Douglas Dynamics (PLOW) beats by $0.03, misses on revs; lowers FY24 EPS in-line, revs below consensus
    • D.R. Horton (DHI) misses by $0.25, misses on revs; guides FY25 revs below consensus; increases quarterly dividend 33% to $0.40/share
    • D.R. Horton (DHI) issues downside Q1 rev guidance on call
    • DT Midstream (DTM) misses by $0.04; increases 2024 adjusted EBITDA guidance
    • Ecolab (ECL) beats by $0.75, reports revs in-line; guides Q4 EPS in-line
    • Element Solutions (ESI) beats by $0.01, beats on revs
    • Encompass Health (EHC) beats by $0.09, beats on revs; guides FY24 EPS in-line, revs above consensus
    • Enterprise Products (EPD) misses by $0.01, reports revs in-line
    • ESAB Corp. (ESAB) beats by $0.13, beats on revs, narrows FY24 core adjusted EPS guidance range
    • F5 Networks (FFIV) beats by $0.22, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY25 EPS in-line, revs above consensus; Announces $1.0 bln share repurchase program
    • Flowserve (FLS) misses by $0.05, reports revs in-line; guides FY24 EPS below consensus, revs below consensus
    • Ford Motor (F) beats by $0.03, beats on revs; projects FY24 adjusted EBIT of about $10 bln
    • Forestar (FOR) beats by $0.29, beats on revs; guides FY25 revs below consensus
    • Franklin Electric (FELE) misses by $0.10, misses on revs; guides FY24 EPS below consensus, revs below consensus
    • Frontier Group Holdings (ULCC) misses by $0.03, reports revs in-line
    • GeneDx (WGS) misses by $0.10, beats on revs; guides FY24 revs above consensus
    • Graphic Packaging (GPK) misses by $0.03, misses on revs; guides FY24 EPS below consensus
    • H&E Equipment (HEES) misses on EPS, reports revs in-line
    • Harmonic (HLIT) beats by $0.05, beats on revs; guides Q4 EPS in-line; guides FY24 EPS above consensus
    • Hayward Holdings (HAYW) beats by $0.01, beats on revs; guides FY24 revs above consensus
    • Heartland Express (HTLD) misses by $0.11, misses on revs
    • HNI (HNI) beats by $0.05, misses on revs, Non-GAAP EPS in Q4 expected to decrease from 2023 levels
    • HSBC Holdings (HSBC) reports Q3 results; approves dividend, initiates buyback; reaffirms outlook
    • Hubbell (HUBB) beats by $0.03, misses on revs; guides FY24 EPS in-line, revs below consensus
    • Inari (NARI) misses by $0.19, beats on revs; guides FY24 revs above consensus
    • Incyte (INCY) beats by $0.09, beats on revs; provides business update
    • IPG Photonics (IPGP) beats by $0.10, beats on revs; guides Q4 EPS in-line, revs in-line
    • ITT (ITT) beats by $0.03, reports revs in-line; guides FY24 EPS in-line, revs in-line
    • Janus International Group (JBI) misses by $0.10, misses on revs; lowers FY24 revs below consensus
    • JetBlue Airways (JBLU) beats by $0.05, reports revs in-line; guides FY24 revs below consensus
    • Kforce (KFRC) beats by $0.06, reports revs in-line; guides Q4 revs mostly below consensus
    • Kilroy Realty (KRC) beats by $0.12, beats on revs; guides FY24 FFO above consensus
    • Leggett & Platt (LEG) misses by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs in-line; lowers FY24 EPS below consensus, revs in-line
    • Leidos (LDOS) beats by $0.92, beats on revs; raises FY24 EPS above consensus, raises revs above consensus
    • LTC Properties (LTC) beats by $0.08, beats on revs
    • Masco (MAS) reports EPS in-line, revs in-line; guides FY24 EPS in-line
    • McDonald's (MCD) beats by $0.02, reports revs in-line
    • MSCI (MSCI) beats by $0.08, beats on revs
    • Northwest Bancshares (NWBI) reports EPS in-line, net interest income increased 2.7% yr/yr
    • Northwest Natural (NWN) provides Public Utility Commission of Oregon update; revises guidance to reflect disallowance
    • NorthWestern (NWE) misses by $0.03, misses on revs; lowers FY24 EPS in-line
    • Novartis AG (NVS) beats by $0.12, reports revs in-line; raises FY24 outlook
    • PayPal (PYPL) beats by $0.13, reports revs in-line, guides for low-to-mid single digit decrease in FY24 EPS, revenue growth in low-single-digits
    • Pearson Plc (PSO) reports nine-month trading update; sales rise 3% yr/yr; reaffirms FY24 outlook
    • Penske Auto (PAG) misses by $0.02, misses on revs
    • Petrobras (PBR) reports Q3 production
    • Pfizer (PFE) beats by $0.45, beats on revs; raises FY24 EPS and revenue guidance
    • Phillips 66 (PSX) beats by $0.39, reports revs in-line
    • PJT Partners (PJT) beats by $0.02, beats on revs
    • PotlatchDeltic (PCH) reports Q3 (Sep) results, beats on revs
    • Quad/Graphics (QUAD) beats by $0.02; beats on revs; lowers outlook
    • Rambus (RMBS) reports Q3 (Sep) results, misses on revs
    • Regency Centers (REG) beats by $0.03; raises FY24 FFO above consensus
    • Royal Caribbean (RCL) beats by $0.17, reports revs in-line; raises FY24 EPS in-line
    • SBA Comm (SBAC) beats by $0.01, reports revs in-line; raises FY24 guidance
    • Shutterstock (SSTK) beats by $0.36, beats on revs; guides FY24 EPS above consensus, revs above consensus; names new CFO
    • Skyline Champion (SKY) beats by $0.18, beats on revs; refreshes repurchase authorization to provide for $100 mln of potential future buybacks
    • SoFi Technologies (SOFI) beats by $0.01, beats on revs; guides FY24 EPS above consensus, revs above consensus
    • Standex International (SXI) beats by $0.05, misses on revs
    • Stanley Black & Decker (SWK) beats by $0.17, misses on revs; guides FY24 EPS in-line
    • Sysco (SYY) misses by $0.04, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
    • Tenet Healthcare (THC) beats by $0.58, beats on revs; guides Q4 EPS in-line, revs below consensus
    • Transcat (TRNS) misses by $0.05, misses on revs
    • TransMedics Group (TMDX) misses by $0.17, misses on revs; reaffirms FY24 revs guidance
    • Trex (TREX) beats by $0.05, beats on revs; reaffirms FY24 revs guidance
    • UFP Industries (UFPI) misses by $0.25, misses on revs
    • Ultra Clean Holdings (UCTT) beats by $0.02, beats on revs; guides Q4 EPS in-line, revs above consensus
    • V.F. Corp (VFC) beats by $0.22, beats on revs; guides Q3 revs below consensus
    • Waste Mgmt (WM) beats by $0.07, beats on revs; on track to achieve high end of FY24 FCF guidance
    • Welltower (WELL) beats by $0.07, beats on revs; raises FY24 FFO guidance
    • Xerox (XRX) misses by $0.26, misses on revs, lowers FY24 revenue, adjusted operating margin, and free cash flow guidance
    • Zebra Tech (ZBRA) beats by $0.26, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • General News
    • Aides close to Vice President Kamala Harris are becoming more cautiously optimistic about victory in tight presidential race, according to New York Times
    • Former President Trump's allies are very confident they will win the 2024 election, according to Axios
    • China mulling $1.4 bln in new debt, according to Reuters
    • White House announces $3 billion to strengthen port infrastructure
    • White House is addressing U.S. investments in certain national security technologies and products in countries of concern
    • Abeona Therapeutics (ABEO) announces that the Company has resubmitted its Biologics License Application to the U.S. FDA for prademagene zamikeracel, its investigational autologous cell-based gene therapy, as a potential new treatment for patients with recessive dystrophic epidermolysis bullosa
    • Albertsons (ACI) announces that effective October 24, 2024, the Board of Directors has elected Jim Donald as the sole independent Chair of the Board
    • Allete Clean Energy (ALE) subsidiary announces sale of the Whitetail wind project in southwestern Wisconsin to Invenergy
    • Apple (AAPL) iPhone exports from India increased 33%, according to Bloomberg
    • Ardelyx (ARDX) presents results from its IBS in America 2024 Supplemental Survey at the American College of Gastroenterology’s Annual Meeting
    • Arthur J. Gallagher (AJG) announces the acquisition of Snoqualmie, Washington-based Adept Benefits, LLC
    • Blink Charging (BLNK): Envoy Technologies teams up with UNLMTD Real Estate Group, to introduce electric car sharing at FIAT House, a brand-new collection of more than 300 studios, one- and two-bedroom luxury residences
    • Boot Barn Holdings (BOOT) announces that Jim Conroy plans to step down as CEO and President, John Hazen promoted to interim CEO; both are effective November 22
    • Broadcom (AVGO): OpenAI expands AI chip strategy with AVGO, TSMC, and AMD amid growing infrastructure demands and rising costs, according to Reuters
    • B. Riley Financial (RILY) announces it and its subsidiary bebe stores, inc. have completed a transaction for their brand assets yielding ~$236 mln in cash proceeds to B. Riley
    • Cintas (CTAS) approves a quarterly cash dividend of $0.39/share
    • Cisco (CSCO) unveils plug-and-play AI solutions, accelerating AI adoption for the enterprise
    • Cisco (CSCO) unveils new cisco 360 partner program to accelerate value and innovation, launching in 2026
    • CME Group (CME) receives approval from the National Futures Association to establish futures commission merchant
    • Cognizant Tech (CTSH) announces a new agreement with Alnylam Pharmaceuticals to scale IT operations
    • Daimler Truck Holding AG (DTRUY) is assessing the future of its China operations
    • Eledon Pharmaceuticals (ELDN) announces positive data for the first three islet transplant recipients treated with an immunosuppression regimen that includes tegoprubart, the Company’s investigational anti-CD40L antibody, for prevention of islet transplant rejection in subjects with type 1 diabetes
    • Eli Lilly (LLY) Canada received a positive Canada's Drug Agency recommendation for the Verzenio expanded indication in early breast cancer
    • Eli Lilly's (LLY) Alzheimer’s drug Kisunla (donanemab-azbt) dosing and data was presented at the Clinical Trials on Alzheimer’s Disease conference
    • Eli Lilly (LLY) confirms "positive" results from the TRAILBLAZER-ALZ 6 Phase 3b study, showing a reduction in amyloid-related imaging abnormalities with edema/effusion (ARIA-E) at the 24-week primary endpoint for people receiving a slightly modified titration of donanemab in adults with early symptomatic Alzheimer's disease
    • eXp World Holdings (EXPI): eXp Realty has launched two groundbreaking initiatives at eXpcon Miami: the ICON Incentive Program and the Revenue Share Capping Incentive Program, effective November 1
    • FibroBiologics (FBLG) announces updates for novel artificial thymus organoid technology
    • GE HealthCare (GEHC): FDA provides update on use of GE HealthCare EVair and EVair 03 compressors - letter to health care providers
    • Goldman Sachs (GS) CEO David Solomon is optimistic about deal outlook, according to Bloomberg
    • Hewlett Packard Enterprise (HPE) announces that TEPCO SYSTEMS selected HPE GreenLake cloud to advance its data-driven approach to help advance decarbonization of the energy supply
    • Invivyd (IVVD) announces "positive" 12-month exploratory clinical efficacy data from the company’s ongoing CANOPY Phase 3 clinical trial of pemivibart, a half-life extended investigational monoclonal antibody, for the pre-exposure prophylaxis of COVID-19
    • Johnson & Johnson (JNJ): European Commission approves expanded use of HIV-1 therapy EDURANT in younger patients
    • Lithium Americas (LAC) closes $2.26 billion U.S. DOE ATVM loan
    • Lockheed Martin (LMT): Sikorsky awarded $1.24 bln U.S. Army contract modification
    • Luckin Coffee (LKNCY) planning to launch in US, according to Financial Times
    • Magna (MGA) is accelerating the industry’s move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco solution for a European OEM
    • Merck (MRK): Biond Biologics announces clinical trial collaboration and supply agreement with Merck KGaA, Darmstadt, Germany to Evaluate BND-35 in Combination with Cetuximab in a Phase 1 clinical study in patients with solid tumors
    • MPLX LP (MPLX) increases quarterly cash dividend 12.5% to $0.9565/unit from $0.85/unit
    • Netflix (NFLX) and Comcast's (CMCSA) Universal Filmed Entertainment Group expand U.S. licensing deal for feature films
    • New Mountain Finance (NMFC) extends its stock repurchase program, the Company can repurchase up to $50 million worth of its common stock at the discretion of NMFC’s management team
    • Novartis AG (NVS) announces that Scemblix was granted accelerated approval by the U.S. FDA for adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase
    • Novartis AG (NVS): FDA grants accelerated approval to asciminib for newly diagnosed chronic myeloid leukemia
    • Oracle (ORCL) unveils next-generation EHR
    • Paysafe (PSFE) has partnered with Deutsche Bank AG (DB) to provide private customers with easy access to cash services
    • Qiagen (QGEN) receives FDA clearance for QIAstat-Dx mini panel
    • Rio Tinto (RIO) has completed the transition from conventional to renewable diesel for all heavy mining equipment at its Kennecott copper mine in Utah, giving the mine one of the lowest carbon footprints of any copper producer in the United States
    • Ross Stores (ROST) announces that its Board of Directors has appointed James Conroy, a seasoned retail CEO, as Chief Executive Officer, succeeding Barbara Rentler effective February 2, 2025
    • RTX (RTX): State Department has made a determination approving a possible Foreign Military Sale to the Government of Denmark
    • Sachem Capital (SACH) adopted a new stock repurchase plan to replace its existing stock repurchase plan - may repurchase up to an aggregate of $5,802,959.45 of its common shares
    • Sanofi (SNY) and SandboxAQ announce a collaboration to identify biomarkers during clinical development
    • Southwest (LUV) must face union lawsuits, according to Reuters
    • Sony (SONY) announces plans to close Neon Koi and Firewalk
    • SpartanNash (SPTN) enters into an asset purchase agreement with Markham Enterprises, Markham Oil and its affiliates, a three-store chain of convenience stores and fuel distributor in mid-Michigan
    • Tevogen Bio (TVGN) took significant steps toward expanding R&D and manufacturing capabilities
    • The Shyft Group (SHYF) expands Blue Arc EV network through strategic partnerships with allegiance trucks and ascendance truck centers
    • TFI International (TFII) announces renewal of NCIB; may repurchase a maximum of 10% of its public float
    • Vinci Partners (VINP) completes its previously announced combination with Compass
    • Viasat (VSAT): Defense Department aiming to increase spending low Earth orbit satellite internet services, according to Space News
    • Visa (V) aiming to eliminate 1400 jobs, according to WSJ
    • Western Midstream (WES) names Oscar Brown as CEO; reaffirms FY24 guidance
    • Zai Lab (ZLAB) reports positive topline data from Phase 3 bridging trial evaluating KarXT for the treatment of schizophrenia in China

Ratings Changes (see Upgrades/Downgrades calendar for full list):

  • Upgrades:
    • Coca-Cola FEMSA (KOF) upgraded to Buy from Neutral at Citigroup; tgt raised to $102
    • Philips (PHG) upgraded to Hold from Underperform at Jefferies
    • Summit Materials (SUM) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $52
  • Downgrades:
    • CEMEX S.A. (CX) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $6
    • Redwire Corporation (RDW) downgraded to Neutral from Buy at B. Riley Securities; tgt raised to $9.50
    • Tapestry (TPR) downgraded to Hold from Buy at TD Cowen; tgt $52
  • Others:
    • AppLovin (APP) initiated with an Overweight at Wells Fargo; tgt $200
    • Arcosa (ACA) initiated with an Overweight at Barclays; tgt $106
    • CRH Plc. (CRH) initiated with an Overweight at Barclays; tgt $110
    • Criteo (CRTO) initiated with an Overweight at Wells Fargo; tgt $70
    • Curtiss-Wright (CW) initiated with an Overweight at Alembic Global Advisors; tgt $412
    • DoubleVerify (DV) initiated with an Underweight at Wells Fargo; tgt $14
    • Evergy (EVRG) initiated with an Outperform at Mizuho; tgt $67
    • Genelux (GNLX) initiated with a Buy at Guggenheim; tgt $8
    • HIVE Digital Technologies (HIVE) initiated with an Overweight at Cantor Fitzgerald; tgt $9
    • LiveRamp (RAMP) initiated with an Equal Weight at Wells Fargo; tgt $25
    • Magnite (MGNI) initiated with an Equal Weight at Wells Fargo; tgt $13
    • RxSight (RXST) initiated with a Buy at Jefferies; tgt $72
    • Six Flags Entertainment (FUN) initiated with a Buy at Guggenheim; tgt $52
    • TG Therapeutics (TGTX) initiated with a Buy at TD Cowen; tgt $50
    • The Trade Desk (TTD) initiated with an Overweight at Wells Fargo; tgt $150
    • Unity Software (U) initiated with an Equal Weight at Wells Fargo; tgt $20
  • Econ Data (Wednesday):
    • 7:00 ET: Weekly MBA Mortgage Index (prior -6.7%)
    • 8:15 ET: October ADP Employment Change (Briefing.com consensus 105,000; prior 143,000)
    • 8:30 ET: Advance Q3 GDP (Briefing.com consensus 3.0%; prior 3.0%) and advance Q3 GDP Chain Deflator (Briefing.com consensus 2.3%; prior 2.5%)
    • 10:00 ET: September Pending Home Sales (Briefing.com consensus 2.5%; prior 0.6%)
    • 10:30 ET: Weekly crude oil inventories (prior +5.47 mln)
  • Earnings:
    • Monday (Oct 28)
      • Pre-Market: AKR BOH CNP HOPE ON PHG PRCT SJW
      • After-Hours: AGYS AMKR AESI BOOT BRX BRO CDNS CALX CWH CSWC CCCS CDP CR CVI PLOW ESI EHC FFIV FLS F HLIT NARI KFRC KRC LEG LTC NWE PCH RMBS REG SAFE SBAC SKY TRNS TMDX TREX UFPI UCTT VFC WM WELL
    • Tuesday (Oct 29)
      • Pre-Market: AMT AWI ABG ATI BP CBZ CECO CHKP CVLT CROX GLW CTS DHI DTM EXP ECL EPD ESAB FELE ULCC GPK HEES HRMY HAYW HNI HUBB INCY IPGP ITT JBI JBLU KNSA LDOS MAS MCD MSCI NWBI NVS PAG PYPL PFE PSX PJT RITM RCL STNG SSTK SOFI SWK SYY THC XRX ZBRA
      • After-Hours: ATRC TXG ATGE AMD ALHC ALSN GOOG AMH APAM BMRN BXP CZR CAKE CHE CMG CB DVA EIX EA ENVX EQT ESS EXEL EXLS EXE EXR FCF FSLR FE FMC HURN IEX NGVT KAI LSTR LFUS MTH MIR MOD MDLZ NRDS OI OKE PK PRO PFS QRVO RDDT RSG SAGE SKWD SNAP STAG SXI SYK UDMY UMBF UIS UNM VRNS V WPC WERN ZWS
    • Wednesday (Oct 30)
      • Pre-Market: ABBV AER ALE ARCC ARVN ADP AVNS AVT AXTA BLCO BHC BIIB BLKB BPMC EAT BG CAT CDW CHEF CLH CWEN CMCO CRTO DAN DAY LLY EXC EXTR FVRR FLEX FTV GRMN GTES GEHC THRM ROCK GSK GPN GPI HR HES HESM HUM ITW IMAX INMD ITCI JKS KEX KHC DRS LIVN MLM MTRN MNRO NAVI NBIX NI NVCR OIS OMCL OMF OSW OPCH OSK OTIS PSN PUMP REYN SHAK SLGN SITE SCL TEX TECH COCO TW TT TTMI UTHR VRSK VMC WING XPO ZBH
      • After-Hours: ACHC AEIS AFL AIN ALKT ALGT ALL ATEC ALTR AWK AMGN AM AR ACGL ACA AXS AX BECN BHE BIO BKNG CHRW WHD CVNA CWST CF CLX CGNX CTSH COIN COLM CODI CRK CFLT CNMD CORT CACC CW CTOS DASH EBAY EIG ERII NVST EPR EQIX EQR ETD ETSY EG FRT FND FORM FCPT FTAI GEN GDDY GRBK THG HLF HTGC HLI HUBG IRT INFA INVH IRTC KLAC LMND LPLA MGY MTW MATX MAX MMSI META MET MGM MSFT MSTR MAA MCW MPWR MUSA MYRG NSA NTGR NMFC NXT NVEE OHI PGRE PAYC PCTY PEN PPC PSMT PCOR PRU PSA RELY RIOT HOOD ROKU ROOT RSI RIG RYAN SIMO SCI SRI SNBR SFM SPXC STAA SBUX SNCY STEM RGR SUM NOVA TNK TDOC TENB TRUP TWLO UDR UMC OLED VTR HCC WTS WSC
    • Thursday (Oct 31)
      • Pre-Market: FLWS AGIO ALGM ALNY MO AME BUD APG APTV ARW AVNT BALL BAND BDC BWA BMY CWT CNQ LNG CNK CMS COP CFR DFIN LPG DRVN DNB ETN ECVT EME ETR NVRI EL FSS FDP GNRC GEL GWW GVA GPRE DINO HII H IDA IDXX NSP IP ICE IDCC IQV ITRI INSM JHG K KIM KTB KYMR LANC LAUR LAZ TREE LI LECO LNC LIN MDGL MBUU HZO MA MRK MGPI MBLY NCLH NKLA OTEX OGN PATK PBF BTU PTON PHIN PWR RDWR PACK REGN RBLX SABR SN SWI SO SIRI STM SXC TFX CI TRN UBER UNIT UPBD UTZ VNT WEC WCC WEN WTW XEL XYL
      • After-Hours: ACCO AEM AES ALNT AMZN AMCR AAPL ARDX ASUR TEAM BJRI CPT CNO COHU CON CTRA CUBE CUBI DORM EMN LOCO FOXF GDYN HALO ICFI IR INTC JNPR LMAT MTZ MERC MKL ONTO KWR RGA SBRA SEM SKYW SM SON TNC X VRRM VIAV VICI VIR ACCO AEM LNT AMZN AMCR AAPL ARDX ASUR TEAM BJRI CPT CNO COHU CON CTRA CUBE CUBI DORM EMN LOCO FOXF GDYN HALO ICFI IR INTC JNPR LMAT MTZ MERC ONTO KWR RGA SBRA SEM SKYW SM SON TNC X VRRM VIAV VICI VIRI
    • Friday (Nov 1)
      • Pre-Market: AMR ARCB ARES BTSG CAH CBOE GTLS CHTR CVX CHD DBRG D ENB ESNT XOM FUBO IMO TILE LYB MGA NVT MD PPL PRLB RBC TROW TXNM WAT W
      • After-Hours: None
    • General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike
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