After Hours Report

The session started a little shaky, but stocks quickly shifted into rally-mode as investors digested NVIDIA's (NVDA 146.67, +0.78, +0.5%) Q3 earnings report. Shares of NVDA initially traded lower due to profit-taking activity and due to a slight deceleration in its revenue growth rate. The report was solid overall, though, and the company said demand for its Blackwell chip is "staggering."

There was a positive bias under the index surface through the entire session despite the early weakness in NVDA. Other mega caps were weak through the entire session as money rotated away from those names into other areas of the market. 

The S&P 500 (+0.5%), Dow Jones Industrial Average (+1.1%), and Russell 2000 (+1.7%) closed near their best levels of the session. The Nasdaq Composite trailed its peers, closing fractionally higher than yesterday.

Broad buying activity left the Invesco S&P 500 Equal Weight ETF (RSP) 1.3% higher today and left nine out of the 11 S&P 500 sectors higher. Five sectors were higher by 1.0% or more, led by utilities (+1.8%), financials (+1.3%), consumer staples (+1.2%), and industrials (+1.2%).

The industrial sector was boosted by an earnings-related gain in Deere & Co. (DE 437.54, +32.58, +8.1%). Meanwhile, the communication services sector was the worst performer by a wide margin, dropping 1.7%, due to a sizable decline in Alphabet (GOOG 169.24, -8.09, -4.6%) after reports that the DOJ is pushing for a forced sale of Chrome and potentially Android.

The Treasury market closed with losses after a stronger-than-expected Existing Home Sales report for October (3.96 mln; Briefing.com consensus 3.90 mln), which followed another decrease in weekly jobless claims (to 213,000 form 219,000), and a disappointing Philadelphia Fed Survey (-5.5; Briefing.com consensus 7.0).

The 10-yr yield settled three basis points higher at 4.43% and the 2-yr yield settled four basis points higher at 4.35%.

• Nasdaq Composite: +26.4%
• S&P 500: +24.7%
• S&P Midcap 400: +18.2%
• Russell 2000: +16.6%
• Dow Jones Industrial Average: +16.4%

Reviewing today's economic data:

• Weekly Initial Claims 213K (Briefing.com consensus 221K); Prior was revised to 219K from 217K, Weekly Continuing Claims 1.908 mln; Prior was revised to 1.872 mln from 1.873 mln
  • The key takeaway from the report is that the rising trend for continuing jobless claims connotes a softening labor market whereby it has become more challenging to find a new job after being laid off.
• November Philadelphia Fed Index -5.5 (Briefing.com consensus 7.0); Prior 10.3
• October Existing Home Sales 3.96 mln (Briefing.com consensus 3.90 mln); Prior was revised to 3.83 mln from 3.84 mln
  • The key takeaway from the report is that more inventory is becoming available, but with the ongoing increase in the median home price and mortgage rates remaining elevated, affordability constraints will persist, capping total sales potential.
• October Leading Home Sales -0.4% (Briefing.com consensus -0.3%); Prior was revised to -0.3% from -0.5%

Friday's economic lineup features:

• 9:45 ET: Flash November S&P Global U.S. Manufacturing PMI (prior 48.5) and flash November S&P Global U.S. Services PMI (prior 55.0)
• 10:00 ET: Final November University of Michigan Consumer Sentiment (Briefing.com consensus 73.0; prior 73.0)

Overseas:

• Europe: DAX +0.8%, FTSE +0.8%, CAC +0.2%
• Asia: Nikkei -1.0%, Hang Seng -0.5% Shanghai +0.1%

Commodities:

• Crude Oil +1.34 @ 70.10
• Nat Gas +0.14 @ 3.20
• Gold +23.10 @ 2675.00
• Silver -0.09 @ 30.95
• Copper -0.03 @ 4.12

After-Hours Spotlight:

• Alphabet (GOOG) dipping by 1% after OpenAI (MSFT) mulls battling Google with its own browser, according to The Information... GOOG down 1.0%
• Apple (AAPL) overhauling Siri to catch up in AI; unveiling set for next year, to launch in 2026, according to Bloomberg... AAPL down 0.1%
• Elastic (ESTC) beats by $0.21, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY25 EPS above consensus, revs above consensus; CFO and COO Janesh Moorjani to depart... ESTC up 17.1%
• Gap (GAP) beats by $0.14, reports revs in-line, comps +1%; guides FY25 revs above consensus... GAP up 12.5%
• Intuit (INTU) beats by $0.14, beats on revs; guides JanQ EPS below consensus, revs below consensus; reaffirms FY25 EPS guidance, revs guidance... INTU down 4.7%
• NetApp (NTAP) beats by $0.09, reports revs in-line; guides Q3 EPS in-line, revs in-line; guides FY25 EPS above consensus, revs in-line... NTAP up 4.2%
• Ross Stores (ROST) beats by $0.08, reports revs in-line, comps of +1%; guides Q4 EPS below consensus; guides FY25 EPS in-line... ROST up 7.0%

Fair Value for Friday, Nov 22:

• S&P 500: 5,970
• Nasdaq 100: 20,821
• DJIA: 43,992

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

• Earnings/Guidance (Full Earnings Calendar):
  • Atkore International (ATKR) misses by $0.04, beats on revs; guides Q1 EPS below consensus; guides FY25 EPS below consensus, revs in-line
  • Baidu (BIDU) misses by RMB0.86, reports revs in-line
  • BJ's Wholesale (BJ) beats by $0.25, reports revs in-line; guides Q4 EPS below consensus; approves new $1 billion share repurchase program
  • Construction Partners (ROAD) misses by $0.01, reports revs in-line; guides FY25 revs in-line
  • Copa Holdings (CPA) misses by $0.08, misses on revs
  • Corporación América Airports (CAAP) reports Q3 (Sep) results, revs in-line
  • Deere (DE) beats by $0.68, reports revs in-line
  • Evolv Technologies Holdings (EVLV) announces results of its internal investigation; CFO resigns; provides business update - reaffirms revenue recognition impact of $4 to $6 mln
  • GE HealthCare (GEHC) reaffirms FY24 EPS guidance and provides medium term targets at investor day
  • IDEXX Labs (IDXX) reaffirms FY24 guidance
  • Jack In The Box (JACK) beats by $0.07, misses on revs
  • KE Holdings (BEKE) beats by RMB0.12, misses on revs
  • KinderCare Learning Companies (KLC) beats by $0.07, beats on revs
  • Lifecore Biomedical (LFCR) releases Investor Day presentation with med-term and long-term outlook
  • MAXIMUS (MMS) misses by $0.02, reports revs in-line; guides FY25 EPS in-line, revs in-line
  • Novartis AG (NVS) provides mid-term sales guidance upgraded to +6% CAGR 2023-2028 and +5% 2024-2029
  • NVIDIA (NVDA) beats by $0.06, beats on revs; guides Q4 revs in-line; demand for Blackwell expected to exceed supply for several quarters in FY26
  • Palo Alto Networks (PANW) beats by $0.08, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY25 EPS in-line, revs in-line
  • Pinduoduo (PDD) misses by RMB0.99, misses on revs
  • Procter & Gamble (PG) in slide presentation sees long term EPS growth mid-to-high single digits; sees long term organic sales grow ahead of the market
  • Raymond James (RJF) reports October 2024 operating data
  • Shoe Carnival (SCVL) beats by $0.04, misses on revs; reaffirms FY25 EPS guidance, lowers FY25 revenue guidance
  • Snowflake (SNOW) beats by $0.05, beats on revs, product revenue up 29% yr/yr; Issues Q4 product revenue guidance of $906-$911 mln and also agrees to acquire Datavolo
  • Universal Technical Institute (UTI) beats by $0.04, beats on revs; guides FY25 EPS in-line, revs above consensus
  • Vestis (VSTS) misses by $0.02, misses on revs; guides FY25 revs below consensus
  • Warner Music Group (WMG) reports Q4 (Sep) results, beats on revs
• General News
  • Russia fired an intercontinental ballistic missile at Ukraine, according to Reuters
  • NY Fed President John Williams (voting FOMC member) in interview expects inflation and rates to decline further, according to Barron's
  • President-elect Trump could announce his selection for Secretary of Treasury this week, according to The Hill
  • Elon Musk and Vivek Ramaswamy discuss plans to reform government spending via Supreme Court authority, according to the Wall Street Journal
  • HHS nominee RFK Jr. wants to remove American Medical Association from its role in Medicare billing, according to Financial Times
  • Taiwan planning to invest $3.0 bln on AI data centers over the next three years, according to Nikkei
  • President-elect Trump believes Apollo (APO) CEO Marc Rowan is a top contender for Treasury Secretary, according to FT
  • Western officials believe the missile fired at Ukraine from Russia was not an intercontinental ballistic missile, according to Reuters
  • Chicago Fed President Goolsbee (2025 FOMC voter) thinks rates over the next year or so will end up a fair bit lower than where they are today, but don't need to get to that place immediately
  • Rep. Matt Gaetz (R-FL) withdraws name from consideration for Attorney General
  • SEC Chair Gary Gensler plans to step down in January
  • President-elect Trump considering Chris Giancarlo for "crypto czar" role in White House, according to Fox Business
  • ACADIA Pharmaceuticals (ACAD) involuntarily terminates COO Brendan Teehan from his position, effective immediately
  • Accenture (ACN) has acquired Award Solutions, financial terms were not disclosed
  • ADTRAN (ADTN) and Dell Technologies (DELL) announce a strategic collaboration to meet the growing AI networking needs of the US federal government
  • Alibaba (BABA) confirms establishment of Alibaba E-commerce Business Group
  • Alibaba (BABA) aiming to revamp e-commerce unit, according to The Information
  • Align Technology (ALGN) Has Received CE Mark in Europe for the Invisalign® Palatal Expander System to Address Skeletal and Dental Expansion in Growing Patients, Including Teenage Patients
  • Allegiant Travel (ALGT) enters into agreements with Boeing (BA) to amend its December 2021 agreement to acquire 50 newly manufactured Boeing 737 MAX aircraft
  • Alphabet (GOOG): It is unclear if antitrust actions against GOOG will continue under President-elect Trump, according to NY Times
  • Alphabet (GOOG) says DOJ "filed a staggering proposal that seeks dramatic changes to Google services"
  • Alphabet (GOOG): DOJ wants to unwind GOOG's partnership deal with Anthropic, according to Bloomberg
  • Amazon (AMZN) will likely have to face an EU investigation in 2025, according to Reuters
  • Applied Optoelectronics (AAOI) files a complaint for patent infringement against Eoptolink Technology USA
  • BayCom (BCML) increases quarterly cash dividend 50% to $0.15/share from $0.10/share
  • Bayer AG (BAYRY): FDA has accepted the sNDA for the oral androgen receptor inhibitor (ARi) NUBEQA in combination with androgen deprivation therapy for the treatment of patients with metastatic hormone-sensitive prostate cancer
  • Beyond, Inc. (BYON) provides update on proposed financing arrangements for its pending transaction with The Container Store Group (TCS)
  • BNY Mellon (BK) has been selected by the U.S. Department of the Treasury's Bureau of the Fiscal Service as the financial agent for the Direct Express prepaid debit card program
  • Boeing (BA) CEO Kelly Ortberg will meet with FAA Administrator Michael Whitaker, according to Reuters
  • Bombardier (BDRBF) announces that its industry-leading Global 7500 business jet has soared to new record-setting heights, adding to its already impressive speed record performances with more than 75 records in the books – a truly incredible accomplishment
  • Braze (BRZE) could be a M&A target, according to The Information
  • Brookfield Corporation (BN) Receives Exemptive Relief from the Ontario Securities Commission
  • BW LPG (BWLP) takes delivery of vessel BW Sirocco from Avance Gas; issues 1.35 mln new shares to Avance Gas
  • Comerica Bank (CMA) statement on Direct Express program transition
  • Contango ORE (CTGO) announces drill results from 2024 surface drill campaign and provides an update on its 2024 exploration and development program at the Johnson Tract
  • Cracker Barrel (CBRL) shareholders support all 10 of the company's recommended Director nominees per preliminary results
  • CVB Financial (CVBF) authorized the Company to repurchase up to 10 mln shares of the Company’s common stock
  • Day One (DAWN) announces retirement of Dr. Samuel Blackman, Co-Founder and Head of Research & Development
  • DXC Technology (DXC) and ServiceNow (NOW) extend strategic partnership to fast-track generative AI value for businesses
  • East West Banc (EWBC) announced that Dominic Ng, Chairman of the Board and Chief Executive Officer of the Company and East West Bank, entered into a pre-arranged stock trading plan
  • e.l.f. Beauty (ELF) issues statement refuting unsubstantiated short-seller report
  • Energy Services of America (ESOA) announces the initiation of a quarterly dividend of $0.03/share payable on January 2, 2025 to shareholders of record at the close of business on December 13
  • Flywire (FLYW) has announced a strategic partnership with Blackbaud (BLKB)
  • Fox Corporation (FOXA) and Hulu (DIS) will agree to new multi-year content partnership, according to Deadline
  • Fresenius Medical's (FMS) Fresenius Kabi submitted a 510(k) notification to the U.S. Food and Drug Administration seeking clearance of the Aurora Xi Plasmapheresis System software version 2.0
  • Gray Television (GTN) completes series of transactions that reduced principal amount of debt outstanding by $278 mln since October 1, 2024; authorizes increase in previously announced debt repurchase authorization
  • Great Ajax (AJX) announces that it will complete its previously announced name change and rebrand to Rithm Property Trust Inc. on December 2
  • Grid Dynamics (GD) introduces composable commerce starter kit on Microsoft Azure, enabling rapid replacement of legacy systems with modern digital commerce capabilities
  • Harrow (HROW) announces favorable jury verdict in ImprimisRx, LLC v. OSRX, Inc.; Receives $34.9 mln award for punitive and actual damages
  • Haynes Intl (HAYN): Acerinox has completed through its wholly owned U.S. subsidiary, North American Stainless, the acquisition of Haynes International
  • Huawei wants to mass produce new artificial intelligence chip next year, according to Reuters
  • ImmunityBio (IBRX) announces a collaboration agreement aimed at automating and streamlining the data fulfillment process for clinical trials
  • IPG Photonics (IPGP) Launches Advanced Dual-Beam Fiber Lasers for Additive Manufacturing
  • Jazz Pharma (JAZZ) receives FDA approval for Ziihera
  • Korro (KRRO) Receives Australian HREC Approval and CTN Clearance to Initiate Phase 1/2a Clinical Study (REWRITE) of KRRO-110 for Alpha-1 Antitrypsin Deficiency
  • Kura Oncology (KURA) and Kyowa Kirin Announce Global Strategic Collaboration to Develop and Commercialize Ziftomenib in Acute Leukemias
  • Kyndryl (KD) announced that its Board of Directors has authorized a $300 million share repurchase program
  • Kyndryl (KD) outlines growth strategy at 2024 Investor Day
  • Lockheed Martin (LMT) Skunk Works, in partnership with Lockheed Martin's Demonstrations and Prototypes organization and the University of Iowa's Operator Performance Laboratory
  • Manulife Financial (MFC) enters into $5.4 bln reinsurance agreement with Reinsurance Group of America; transaction neutral to core EPS
  • Mastercard (MA): Turkey aiming to investigate units of Mastercard and Visa (V), according to Reuters
  • Merck (MRK): Data at the ASH 2024 annual meeting highlights promising hematology pipeline with diverse range of investigational assets and novel modalities
  • Myriad Genetics (MYGN) announces updates to its agreement with Illumina (ILMN), to expand worldwide access and better position Myriad’s GIS as a potential companion diagnostic across multiple potential tumor types
  • Nano Dimension (NNDM): Israeli District court rules in favor of Murchinson and validates shareholder vote from the Nano Dimension March 2023 Special Meeting
  • Nano Dimension (NNDM): Israeli Court Ruling validates nano dimension board’s strategic decisions and clarifies current board structure
  • Navigator Holdings (NVGS) exercised its previously announced option to construct two further 48,500 cubic meter capacity liquefied ethylene gas carriers
  • NJ Resources (NJR) confirms New Jersey Board of Public Utilities approves new rates for New Jersey Natural Gas
  • Nokia (NOK) expands multi-year agreement to supply Microsoft Azure (MSFT) datacenter networks
  • Nurix Therapeutics (NRIX) receives PRIME designation from the european medicines agency for NX-5948 for the treatment of relapsed or refractory chronic lymphocytic leukemia
  • Olin (OLN) entered into a $500,000,000 Receivables Purchase Agreement; paid in full outstanding aggregate principal amount of all loans
  • Omeros (OMER) provides update on progress toward BLA resubmission
  • Osisko Development (ODV) Receives BC Mines Act Permits for Cariboo Gold Project; Environmental Management Act Permits Referred
  • Palo Alto Networks (PANW): Hackers compromised thousands of PANW firewalls, according to Bleeping Computer
  • PAR Technology (PAR) announces agreements to exchange $100 million of its 2.875% convertible senior notes due 2026 for shares of its common stock
  • PayPal (PYPL): CFPB finalizes rule to supervise major digital payment apps, ensuring consumer protection in growing market
  • Peabody Energy (BTU) and RWE announce a new partnership to strategically advance renewable energy projects by repurposing reclaimed land previously used for mining
  • Perspective Therapeutics (CATX) announces initial results from its ongoing Phase 1/2a clinical trial of [212Pb]VMT-a-NET that are being presented at the 2024 North American Neuroendocrine Tumor Society Multidisciplinary NET Medical Symposium
  • Petrobras (PBR) informs about payment of remuneration to shareholders
  • PotlatchDeltic (PCH) provides investor updates in presentation
  • Priority Technology Holdings, Inc. (PRTH) announces redemption of preferred stock and simplified capital structure
  • PubMatic (PUBM) and Xumo announce a partnership today to make Xumo’s premium inventory programmatically available to advertisers via PubMatic
  • Pyxis Oncology (PYXS) announces favorable preliminary PYX-201 clinical phase 1 part 1 data
  • Rezolute (RZLT) receives FDA orphan designation for treatment of hypoglycemia due to tumor-associated hyperinsulinism
  • Roblox (RBLX): SEC and FTC investigations target Roblox as execs offload $1.7 billion in stock, Hunterbrook outlines position in short report
  • RTX's (RTX) Pratt & Whitney and WZL2 sign a letter of intent for F100 sustainment work in Poland
  • Seritage Growth Properties (SRG) and Berkshire Hathaway Life Insurance amend Senior Secured Term Loan Agreement
  • Snowflake (SNOW) announces multi-year partnership with Anthropic
  • Southern Power (SO) announced an additional expansion of its 29th solar project — Millers Branch Solar Facility; expected to achieve commercial operation in the fourth quarter of 2026
  • Starbucks (SBUX) mulling selling stake in its Chinese operations, according to Bloomberg
  • Summit Materials (SUM): Quikrete in discussions to acquire SUM, according to WSJ
  • Summit Materials (SUM) responds to media reports
  • Super Micro Computer Inc. (SMCI) Nasdaq Non-Compliance Update
  • Target (TGT) announces Black Friday Deals - starting today
  • TC Energy (TRP): President-elect Trump wants to restart Keystone XL pipeline, according to Politico
  • Telomir Pharmaceuticals (TELO) reports groundbreaking preclinical results confirming the efficacy of Telomir-1, its licensed compound designed to effectively turn back the biological clock and support longevity
  • Terex (TEX) announces that Jennifer Kong-Picarello will succeed Julie Beck as Senior Vice President and Chief Financial Officer and become a member of the Terex Executive Leadership Team
  • The Shyft Group (SHYF) announces that Jon Douyard has resigned as Chief Financial Officer to pursue another professional opportunity outside the industry
  • Trump Media & Technology Group Corp. (DJT) considering creation of a cryptocurrency payment service, according to NY Times
  • Veea Inc. (VEEA) and DeepGreenX agree on global strategic partnership
  • Verizon (VZ) Business has been awarded a new agreement with the United States Department of Agriculture, valued at over $21 mln in the first year
  • Volkswagen (VWAGY) begins third round of wage negotiations with workers, according to Reuters
  • Willdan Group (WLDN) has won a three-year, $4.5 mln contract to provide in-house building division operations and fire plan inspection review services for the City of Bellflower
  • Zai Lab (ZLAB) and Pfizer (PFE) form strategic collaboration on the novel antibacterial drug XACDURO
  • Zymeworks (ZYME): FDA grants U.S. approval of Ziihera for the treatment of adults with previously treated, unresectable or metastatic HER2-positive biliary tract cancer

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

• Upgrades:
  • AngloGold Ashanti (AU) upgraded to Sector Perform from Sector Underperform at Scotiabank
  • Bank of Nova Scotia (BNS) upgraded to Equal Weight from Underweight at Barclays
  • Buenaventura SA (BVN) upgraded to Sector Perform from Sector Underperform at Scotiabank
  • DT Midstream (DTM) upgraded to Buy from Neutral at Citigroup; tgt raised to $115
  • EVERTEC (EVTC) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $35
  • Franco-Nevada (FNV) upgraded to Buy from Reduce at Veritas
  • On (ONON) upgraded to Strong Buy from Outperform at Raymond James; tgt raised to $63
  • Palo Alto Networks (PANW) upgraded to Buy from Neutral at Rosenblatt; tgt raised to $430
  • Pebblebrook Hotel Trust (PEB) upgraded to Buy from Neutral at Compass Point; tgt $17
  • Piedmont Lithium (PLL) upgraded to Neutral from Underperform at Macquarie; tgt $13.50
  • Royal Bank of Canada (RY) upgraded to Overweight from Equal Weight at Barclays
  • SAGE Therapeutics (SAGE) upgraded to Sector Perform from Underperform at RBC Capital Mkts; tgt $4
  • SFL Corporation (SFL) upgraded to Buy from Hold at Fearnley
• Downgrades:
  • Adient (ADNT) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $24
  • Golden Ocean (GOGL) downgraded to Hold from Buy at Pareto
  • Grab (GRAB) downgraded to Hold from Buy at China Renaissance; tgt $5.40
  • Hanover Insurance (THG) downgraded to Neutral from Buy at Janney; tgt $176
  • Pyxis Oncology (PYXS) downgraded to Mkt Perform from Outperform at William Blair
  • RBC Bearings (RBC) downgraded to Neutral from Buy at BofA Securities; tgt raised to $335
  • Shopify (SHOP) downgraded to Sell from Hold at DZ Bank
  • Toronto-Dominion Bank (TD) downgraded to Underweight from Equal Weight at Barclays
  • Travelers (TRV) downgraded to Neutral from Buy at Janney; tgt $280
  • Ulta Beauty (ULTA) downgraded to Mkt Perform from Outperform at William Blair
  • Walmart (WMT) downgraded to Hold from Buy at DZ Bank; tgt $91
  • XPeng (XPEV) downgraded to Neutral from Buy at Goldman; tgt $12.50
  • ZIM Integrated Shipping (ZIM) downgraded to Sell from Hold at Fearnley
• Others:
  • 4D Molecular Therapeutics (FDMT) initiated with an Underweight at Morgan Stanley; tgt $8
  • AerCap (AER) resumed with a Buy at Goldman; tgt $119
  • Air Lease (AL) resumed with a Buy at Goldman; tgt $65
  • Amentum Holdings (AMTM) initiated with an Outperform at Raymond James; tgt $30
  • Apellis Pharmaceuticals (APLS) initiated with an Equal-Weight at Morgan Stanley; tgt $31
  • Broadridge Financial (BR) initiated with a Neutral at UBS; tgt $250
  • Ensign Group (ENSG) initiated with a Buy at UBS; tgt $175
  • Farmers National (FMNB) resumed with a Neutral at Piper Sandler; tgt $17
  • GE Vernova (GEV) initiated with an Overweight at Wells Fargo; tgt $385
  • International General Insurance (IGIC) initiated with an Outperform at Oppenheimer; tgt $30
  • Marex Group plc (MRX) initiated with a Buy at HSBC Securities; tgt $33
  • Merus (MRUS) initiated with a Buy at Goldman; tgt $73
  • Northeast Bancorp (NBN) initiated with a Mkt Perform at Keefe Bruyette; tgt $102
  • Nutex Health (NUTX) initiated with a Buy at Freedom Capital, tgt $56
  • NVIDIA (NVDA) added to 90-day positive catalyst watch at Citigroup
  • Stardust Power (SDST) initiated with a Buy at ROTH MKM; tgt $13
  • Sunrise Communications AG (SNRE) initiated with a Buy at Deutsche Bank
  • Thermo Fisher (TMO) initiated with a Buy at CMB Int'l
  • UMB Financial Corporation (UMBF) initiated with an Overweight at Morgan Stanley; tgt $156
  • Vera Therapeutics (VERA) initiated with an Overweight at Wells Fargo; tgt $70

• Econ Data (Friday):
  • 9:45 ET: Flash November S&P Global U.S. Manufacturing PMI (prior 48.5) and flash November S&P Global U.S. Services PMI (prior 55.0)
  • 10:00 ET: Final November University of Michigan Consumer Sentiment (Briefing.com consensus 73.0; prior 73.0)
• Earnings:
  • Monday (Nov 18)
    • Pre-Market: BRC TWST
    • After-Hours: ACM BRBR SYM TCOM
  • Tuesday (Nov 19)
    • Pre-Market: AS ENR GDS J KC LOW MDT OCSL VIK VIPS VVV WMT WB
    • After-Hours: AZEK DLB GBDC KEYS LZB POWL VREX ZTO
  • Wednesday (Nov 20)
    • Pre-Market: BERY DY GLBE NIO SR TGT TJX WSM WIX
    • After-Hours: CPA JACK MMS NVDA PANW SNOW SQM
  • Thursday (Nov 21)
    • Pre-Market: ATKR BIDU BJ DE BEKE SCVL VSTS WMG
    • After-Hours: CPRT ESTC GAP INTU ROST UGI
  • Friday (Nov 22)
    • Pre-Market: BKE
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike