After Hours Report

The S&P 500 (+0.4%) and Nasdaq Composite (+1.5%) closed off session highs, while the Dow Jones Industrial Average, which was trading higher initially, settled 0.3% lower. Market participants took advantage of weakness following last week's pullback in the major indices. The "buy-the-dip" mentality also coincided with a seasonally strong period for equities (the second half of December).

At the outset, advancers were outpacing decliners by a 3-to-2 margin at both the NYSE and Nasdaq. At the close, decliners at the NYSE led advancers by a 3-to-2 ratio, while advancers continued to hold a fractional advantage at the Nasdaq.

Rising interest rates, which surged last week following hotter-than-expected inflation data, dampened initially buying interest. The 10-year Treasury yield has edged up one basis point to 4.41%, while the 2-year yield has similarly risen one basis point to 4.25%.

Despite the pressure from rising rates, some individual stocks traded sharply higher, providing integral support to the S&P 500 and Nasdaq. Notable contributions came from Broadcom (AVGO 250.00, +25.20, +11.2%), Alphabet (GOOG 198.16, +6.78, +3.5%), and Tesla (TSLA 463.02, +26.79, +6.1%), all of which reached fresh 52-week highs.

Meanwhile, the equal-weighted S&P 500 closed 0.3% lower and seven S&P 500 sectors closed with declines. The energy sector registered the largest decline by a wide margin, dropping 2.2% amid sliding oil prices ($70.83/bbl, -0.46, -0.7%). The health care (-1.3%) and materials (-1.0%) sectors also logged solid declines.

The communication services (+1.3%), consumer discretionary (+1.7%), and information technology (+1.0%) sectors showed the largest advances among the four sectors in the green.

This week features a slate of market-moving events, including including the November Retail Sales, Industrial Production, Housing Starts, Existing Home Sales, and Personal Income and Spending reports, the latter of which features the Fed's preferred inflation gauge in the PCE Price Index. The main event will be the FOMC decision on Wednesday.

There is a 95.4% probability in the fed funds futures market of a 25 basis points rate cut on Wednesday, according to the CME FedWatch tool.

• Nasdaq Composite: +31.3% YTD
• S&P 500: +27.3% YTD
• S&P Midcap 400: +17.7% YTD
• Russell 2000: +16.5% YTD
• Dow Jones Industrial Average: +16.0% YTD

Reviewing today's economic data:

• December NY Fed Empire State Manufacturing 0.2 (Briefing.com consensus 10.0); Prior 31.2
• December S&P Global US Manufacturing PMI - Prelim 48.3; Prior 49.7
• December S&P Global US Services PMI - Prelim 58.5; Prior 56.1

Looking ahead to Tuesday, market participants receive the following economic data: 

• 08:30 ET: November Retail Sales (Briefing.com consensus 0.5%; prior 0.4%) and Retail Sales, Ex-Auto (Briefing.com consensus 0.4%; prior 0.1%)
• 08:30 ET: November Industrial Production (Briefing.com consensus 0.3%; prior -0.3%) and Capacity Utilization (Briefing.com consensus 77.3%; prior 77.1%)
• 10:00 ET: October Business Inventories (Briefing.com consensus 0.2%; prior 0.1%)
• 10:00 ET: December NAHB Housing Market Index (Briefing.com consensus 47; prior 46)

Overseas:

• Europe: DAX -0.5%, FTSE -0.5%, CAC -0.7%
• Asia: Nikkei -0.1%, Hang Seng -0.9% Shanghai -0.2%

Commodities:

• Crude Oil -0.46 @ 70.83
• Nat Gas -0.06 @ 3.22
• Gold -5.60 @ 267110
• Silver +0.03 @ 31.10
• Copper -0.01 @ 4.19

After-Hours Spotlight:

• eBay (EBAY) authorizes an incremental $3.0 billion under its current stock repurchase program in addition to the remaining amounts previously authorized... EBAY up 1.9%
• Jazz Pharma (JAZZ): Bruce Cozadd to retire as CEO, but remain as Chair of the Board; reaffirms FY24 revenue guidance... JAZZ down 0.9%
• Mitek Systems (MITK) beats by $0.16, beats on revs; guides FY25 revs in-line... MITK up 18.2%
• Nano Dimension (NNDM) appoints Ofir Baharav as Chairman of the Board
• Nucor (NUE) guides Q4 EPS below consensus... NUE down 1.0%

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

• Earnings/Guidance (Full Earnings Calendar):
  • ARMOUR Residential REIT (ARR) releases presentation, which contains updates on financial position, business and operations
  • Penguin Solutions (PENG) also lowers FY25 EPS guidance
  • Phillips 66 (PSX) announces a 2025 capital budget of $2.1 bln, including $998 mln for sustaining capital and $1.1 bln for growth capital
  • Steel Dynamics (STLD) sees Q4 EPS below consensus
• General News
  • PBOC will lower rates next year, according to Bloomberg
  • South Korean President Yoon Suk Yeol was suspended from office following impeachment vote. Prime Minister Han Duck-soo will become interim leader, according to the New York Times
  • Lawmakers have disagreements over government funding bill ahead of Friday deadline, according to Politico
  • Bipartisan lawmakers are calling for drones to be shot down. Biden administration officials say they pose no national security threat, according to NBC News
  • President-elect Trump considering privatizing the USPS, which would require congressional approval, according to the Washington Post
  • President Biden planning artificial intelligence executive orders, according to Bloomberg
  • Treasury Secretary Janet Yellen in interview says she is looking at additional sanctions on "dark fleet" tankers, according to Reuters
  • President-elect Trump suggested creating bitcoin reserve, according to Reuters
  • EU adopts 15th sanctions package against Russia for its continued illegal war against Ukraine
  • Moody's Ratings downgrades France's ratings to Aa3; changes outlook to stable
  • Office property values are impacting regional banks, according to Bloomberg
  • Appeals Court denied TikTok's request to pause January 19th ban, according to Bloomberg
  • Treasury issues additional sanctions on North Korea and Russia
  • Chancellor Olaf Scholz lost a vote of confidence; Germany moving towards snap election, according to FT
  • U.S. eyes trade investigation into China's surge in older-model chips over security, supply chain fears, according to NYT
  • Congressional lawmakers are close to deal that will fund government through March 14, according to Reuters
  • A2Z Cust2Mate Solutions Corp. (AZ) entered into a securities purchase agreement to issue/sell 1,947,000 common shares at $6.40 per share in a registered direct offering
  • AeroVironment (AVAV) disclosed that the U.S. Government Accountability Office denied protest filed on September 6 that challenged IDIQ
  • Alpha and Omega Semi (AOSL) faces setback as thermal issues in 5x5 DrMOS raise risk of Nvidia shifting to competitor MPS, according to TF Int'l analyst Kuo
  • Alphabet's (GOOG) Google unveils Veo 2 and upgraded Imagen 3 video and image generation models, and new creative tool 'Whisk'
  • Amazon (AMZN) Teamsters vote to authorize strike at two major NYC warehouses
  • Amazon (AMZN): Governor DeWine announces $10 billion investment plan from Amazon Web Services in Greater Ohio
  • AMC Entertainment (AMC): Fathom Events reports record-breaking 2024 business performance with specialty distribution model; set to rebrand as Fathom Entertainment in January 2025
  • American Airlines (AAL) expects to nearly 12.7 million customers during the winter holidays
  • American Express (AXP) reports November card metrics
  • Annexon (ANNX) announces positive topline results from real-world evidence study comparing ANX005 treatment to intravenous immunoglobulin or plasma exchange in a matched patient cohort for the treatment of guillain-barré syndrome
  • Apple (AAPL): President-elect Trump will have dinner with Apple CEO Tim Cook, according to Bloomberg
  • Apple (AAPL): Lawmakers tell Apple and Google (GOOG, GOOGL) to remove TikTok from application stores on January 19, according to Reuters
  • Apple (AAPL) aiming to introduce thinner and foldable iPhones, according to the Wall Street Journal
  • Arm Holding (ARM) and Qualcomm (QCOM) to begin licensing trial today, according to Financial Times
  • Atea Pharmaceuticals (AVIR) retains financial advisor to explore strategic partnerships
  • BAE Systems (BAESY): State Department has made a determination approving a possible Foreign Military Sale to the Republic of Korea of KDX-II Class Destroyers Product Improvement Program
  • Bank of America (BAC) reports November card metrics
  • Barrick (GOLD) reports that it has to date been unsuccessful in arriving at a final resolution with Government of Mali over the Loulo-Gounkoto complex
  • Benitec Biopharma (BNTC) appointed Sophie Mukadam as Chief Operating Officer of the Company, effective as of January 1, 2025
  • BigBear.ai (BBAI) announces a collaboration with Proof Labs Inc to deliver an advanced cyber resiliency solution for the Department of the Air Force
  • BioNTech (BNTX): FDA has lifted the partial clinical hold on PRESERVE-003
  • BlackBerry (BB): Arctic Wolf to acquire BlackBerry’s Cylance endpoint security assets
  • Boston Scientific's (BSX) pacemaker devices Accolade may need early replacement; as the U.S. FDA notifies patients, caregivers, and health care providers
  • BP (BP) and JERA joining forces to create top-tier global offshore wind joint venture
  • Broadridge Financial (BR) appoints Ashima Ghei as its Chief Financial Officer, effectively immediately
  • Brookfield Renewable Partners (BEP) announces renewal of normal course issuer bids
  • Capital One (COF) reports November card metrics
  • Century Therapeutics (IPSC): Bristol-Myers Squibb (BMY) notified the Company on December 12, 2024 that it would be terminating the Collaboration Agreement
  • Check Point Software (CHKP) announces the transition of Gil Shwed into the role of Executive Chairman of the Board of Directors, and the appointment of Nadav Zafrir as the company’s new Chief Executive Officer, starting December 16th
  • Checkpoint Therapeutics (CKPT) announces FDA approval of UNLOXCYT
  • Cibus (CBUS), Albaugh LLC and RTDC Company Limited Affirm Collaboration to Enable Commercialization of Cibus’ First Gene Edited Weed Management Solution for U.S. Rice Growers
  • Citigroup (C) reports November card metrics
  • CoreCivic (CXW) has appointed Patrick Swindle, who currently serves as CoreCivic's Executive Vice President and Chief Operating Officer, to President and Chief Operating Officer, effective January 1, 2025
  • Corvel (CRVL) approves a 3-for-1 forward stock split of its common stock
  • CrowdStrike (CRWD) confirmed outstanding share of Class B Common Stock automatically converted into one share of the Company’s Class A Common Stock on Dec 11
  • CVS Health Corporation (CVS) Announces Early Results of Maximum Tender Offer and Election of Early Settlement
  • Discover Financial Services (DFS) reports monthly credit card charge-off and delinquency statistics
  • Douglas Elliman (DOUG) getting questions from DOJ over Oren and Tal Alexander, according to Bloomberg
  • Edgewise Therapeutics (EWTX) announced positive topline results from the Phase 2 CANYON trial of sevasemten in individuals with Becker muscular dystrophy
  • Embraer SA (ERJ): Portugal orders 12 Embraer A-29N Super Tucano aircraft
  • Flagstar Financial (FLG) names Lee Smith as CFO, effective December 27
  • Foghorn Therapeutics (FHTX) has made the decision to discontinue the independent development of FHD-286 in combination with decitabine in patients with relapsed and/or refractory acute myeloid leukemia
  • Fortuna Silver Mines (FSM) extends Kingfisher deposit with drill intersect of 4.1 g/t Au over 15.3 meters at the Séguéla Mine, Côte d’Ivoire
  • Fox (FOXA): CNN & MSNBC's ratings have plummeted since election as viewers move to Fox News, according to the Wall Street Journal
  • GlaxoSmithKline (GSK): Jemperli (dostarlimab) plus chemotherapy receives positive CHMP opinion to expand approval to all adult patients with primary advanced or recurrent endometrial cancer
  • GlaxoSmithKline's (GSK) ViiV announces CHMP positive opinion for Vocabria + Rekambys, the first and only complete long-acting HIV treatment, for adolescents in Europe
  • Honeywell (HON) explores strategic alternatives for unlocking shareholder value; continues review of transformational portfolio actions
  • Honeywell (HON): Elliott statement on Honeywell; 'welcomes Honeywell's announcement today of its ongoing review of strategic alternatives'
  • HSBC Holdings (HSBC): ASIC sues HSBC Australia alleging failures to adequately protect customers from scams
  • IDEAYA Biosciences (IDYA) announces development candidate nomination of IDE251, a potential first-in-class KAT6/7 dual inhibitor targeting 8p11 amplification tumors in breast and lung cancers
  • Immatics N.V. (IMTX): Bristol Myers Squibb has notified Immatics that it has elected to terminate the collaboration agreement
  • Innoviva (INVA): Basilea announces agreement with Innoviva Specialty Therapeutics for the commercialization of antibiotic Zevtera® (ceftobiprole) in the United States
  • Interactive Brokers (IBKR) announces updates to IBKR Desktop, a modern trading platform for investors who demand simplicity but value Interactive Brokers’ advanced technology
  • JPMorgan Chase (JPM) reports November card metrics
  • KalVista Pharmaceuticals (KALV) announces Jeb Ledell as COO
  • Keysight (KEYS) announces that Indra has selected the Keysight EW Advanced Simulation Platform to enhance and accelerate EW test and evaluation capabilities
  • KBR (KBR) awarded an estimated $445 million cost-plus-fixed-fee contract under the Department of Defense Information Analysis Center's (DoD IAC) multiple-award contract vehicle
  • Larimar Therapeutics (LRMR) Announces Positive Initial Data from Ongoing Long-term Open Label Extension Study & Progress Across Nomlabofusp Program for Friedreich’s Ataxia
  • LKQ (LKQ) announces cybersecurity incident; detected unauthorized access to IT systems of a single business unit in Canada
  • Lockheed Martin (LMT) launches Astris AI to enable secure AI solutions across industries
  • MannKind (MNKD) announces six-month results from Phase 3 INHALE-1 pediatric diabetes trial utilizing inhaled insulin (Afrezza)
  • Marathon (MPC) workers reach pay deal at Detroit refinery, according to Reuters
  • MarineMax (HZO): Levin Capital issued the following statement
  • Mastech (MHH) names Nirav Patel as CEO, he succeeds Vivek Gupta, who is stepping down
  • Merck's (MRK) KEYTRUDA approved by the NMPA in China in combination with platinum-containing chemotherapy as neoadjuvant treatment and then continued as monotherapy as adjuvant treatment for patients with resectable stage II, IIIA, or IIIB non-small cell lung cancer
  • Nasdaq (NDAQ) announces annual changes to the Nasdaq-100 Index
  • Neurocrine Biosciences (NBIX) announces FDA approval of CRENESSITY, a first-in-class treatment for children and adults with classic congenital adrenal hyperplasia
  • Ondas Holdings (ONDS) announced today that a note holder has elected to purchase $11.5 million in aggregate principal amount of 3% senior convertible notes due 2026
  • Organon (OGN) has approved VTAMA cream, 1%, an aryl hydrocarbon receptor agonist, for an additional indication of the topical treatment of atopic dermatitis in adults and pediatric patients 2 years of age and older
  • Pampa Energia S.A. (PAM) also details its VMOS participation
  • Peabody Energy (BTU) has successfully shipped the first product from its Centurion Mine in Queensland's Bowen Basin, marking another major milestone in the redevelopment of the premium hard coking coal mine
  • Penguin Solutions (PENG) announces closing of $200 million strategic investment from SK Telecom
  • Performance Food Group (PFGC) announces Scott McPherson named President & COO; Craig Hoskins appointed EVP & Chief Development Officer
  • PureTech Health plc (PRTC): Deupirfenidone slowed lung function decline in people with idiopathic pulmonary fibrosis as measured by forced vital capacity, achieving the primary and key secondary endpoints in the ELEVATE IPF phase 2b trial
  • Red Cat Holdings (RCAT) partners with Palantir (PLTR) to equip Black Widow with autonomous visual navigation and warp speed for GPS-compromised environments
  • Riot Platforms (RIOT) closing of $594.4 million convertible senior notes offering
  • RTX's (RTX) Collins Aerospace announces avionics modernization program for King Air and Hawker aircraft
  • Samsara (IOT): Trayecto drives more than 12 companies operating across 50+ strategic locations in Mexico and the United States
  • Scinai Immunotherapeutics (SCNI) announces the establishment of a U.S.-based subsidiary for its Contract Development and Manufacturing Services
  • Shell plc (SEL) invests in Bonga North deep-water project, Nigeria
  • Skeena Resources (SKE) reports positive progress on permitting activities for the development of the Company’s 100%-owned Eskay Creek Gold-Silver Project
  • Skyline Champion (SKY) appoints Tim Larson as President and CEO, succeeding Mark Yost, effective immediately
  • SmartRent (SMRT) confirms $10 mln investment program to fuel next-level innovation and customer success
  • Smith & Nephew (SNN) has received 510(k) clearance from the United States Food & Drug Administration for a stemless anatomic total shoulder for the AETOS Shoulder System
  • Softbank (SFTBY): Incoming White House Press Secretary Karoline Leavitt confirms that SoftBank CEO Masayoshi Son and President-elect Trump will announce $100 bln US investment later today
  • Softbank (SFTBY) CEO Masayoshi Son will make joint announcement later today with President-elect Trump at Mar-A-Lago; SFTBY will create 100K jobs and invest $100 bln in US over next 4 years; investments will be focused on AI, according to CNBC
  • Star Bulk Carriers (SBLK) announces an amended dividend policy and share buy-back under a new share repurchase program
  • Starbucks (SBUX) announces an enhanced benefit for its retail teams
  • Telecom Italia (TIIAY): CVC is weighing purchase of Vivendi (VIVHY) stake in TIIAY, according to Bloomberg
  • Tesla (TSLA) aiming to increase Model S prices by $5000, according to Reuters
  • The9 Ltd's (NCTY) wholly-owned subsidiary Shanghai The9 Information Technology Co. signs joint venture with Shenzhen JiTuo Interactive Technology Co to operate AI mobile advertising business
  • Trimble (TRMB) and Orica Digital Solutions' GroundProbe announced a new collaboration
  • Uber (UBER) and Lyft (LYFT) getting some competition from startup Empower in Washington, DC, according to NY Times
  • UnitedHealth (UNH) responds to misinformation
  • Universal Music Group N.V. (UMGNF): Virgin Music Group has entered into a definitive agreement to acquire Downtown Music Holdings LLC for cash consideration of $775 mln
  • Viridian Therapeutics (VRDN) Announces Positive Topline Results from Veligrotug Phase 3 THRIVE-2 Clinical Trial in Patients with Chronic Thyroid Eye Disease
  • Walmart (WMT) announces $1.3 billion investment in Chile, expanding operations with 70 new stores and 4,000 jobs
  • WEC Energy Group (WEC): Department of Energy announces conditional commitment to Wisconsin Electric Power Company to help maintain reliability and affordability through hydropower rehabilitation and new utility-scale renewable generation
  • Western Union (WU) announces new $1 billion share repurchase program
  • West Pharm (WST) approved a share repurchase program authorizing the repurchase of up to 550,000 shares of common stock

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

• Upgrades:
  • Advanced Energy (AEIS) upgraded to Buy from Neutral at BofA Securities; tgt $140
  • Ambarella (AMBA) upgraded to Neutral from Underperform at BofA Securities; tgt $80
  • Ametek (AME) upgraded to Buy from Neutral at BofA Securities; tgt raised to $225
  • Banco BBVA Argentina S.A. (BBAR) upgraded to Overweight from Underweight at Morgan Stanley; tgt $27
  • Banco Macro (BMA) upgraded to Overweight from Underweight at Morgan Stanley; tgt $12.50
  • Bristol-Myers (BMY) upgraded to Buy from Hold at Jefferies; tgt $70
  • Broadcom (AVGO) upgraded to Outperform from Market Perform at CICC
  • CBRE Group (CBRE) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $163
  • Comstock (CRK) upgraded to Neutral from Underperform at Mizuho; tgt raised to $18
  • Concentra Group Holdings Parent (CON) upgraded to Buy from Neutral at BofA Securities; tgt $24
  • ConocoPhillips (COP) upgraded to Outperform from Neutral at Mizuho; tgt raised to $134
  • Denali Therapeutics (DNLI) upgraded to Buy from Hold at Stifel; tgt $37
  • EQT Corp. (EQT) upgraded to Outperform from Neutral at Mizuho; tgt raised to $57
  • Equifax (EFX) upgraded to Outperform from Neutral at Exane BNP Paribas; tgt $305
  • Grupo Financiero Galicia (GGAL) upgraded to Overweight from Underweight at Morgan Stanley; tgt $92
  • Grupo Supervielle (SUPV) upgraded to Overweight from Underweight at Morgan Stanley; tgt $19
  • Keysight (KEYS) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $200
  • LifeStance Health Group (LFST) upgraded to Buy from Neutral at Goldman; tgt $10
  • Macy's (M) upgraded to Buy from Hold at Gordon Haskett; tgt $20
  • NetApp (NTAP) upgraded to Overweight from Neutral at JP Morgan; tgt $160
  • Okta (OKTA) upgraded to Overweight from Neutral at JP Morgan; tgt $100
  • Peabody Energy (BTU) upgraded to Outperform from Market Perform at BMO Capital Markets; tgt $26
  • Teradyne (TER) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $158
  • Trimble (TRMB) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $90
  • U.S. Physical Therapy (USPH) upgraded to Buy from Neutral at BofA Securities; tgt raised to $115
  • Zymeworks (ZYME) upgraded to Overweight from Neutral at JP Morgan; tgt $18
• Downgrades:
  • Adient (ADNT) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $20
  • Alector (ALEC) downgraded to Hold from Buy at Stifel; tgt $4
  • Amer Sports (AS) downgraded to Hold from Buy at HSBC Securities; tgt $30
  • Biogen (BIIB) downgraded to Hold from Buy at Stifel; tgt $175
  • Brown-Forman (BF.B) downgraded to Hold from Buy at Truist; tgt lowered to $45
  • CNX Resources (CNX) downgraded to Underperform from Neutral at Mizuho; tgt raised to $38
  • Eagle Materials (EXP) downgraded to Hold from Buy at Jefferies; tgt lowered to $310
  • Editas Medicine (EDIT) downgraded to Underweight from Neutral at JP Morgan
  • Ford Motor (F) downgraded to Underperform from Hold at Jefferies; tgt lowered to $9
  • Installed Building Products (IBP) downgraded to Underperform from Outperform at Evercore ISI; tgt lowered to $206
  • Keros Therapeutics (KROS) downgraded to Neutral from Buy at Guggenheim
  • Logitech Int'l SA (LOGI) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $92
  • Masco (MAS) downgraded to Hold from Buy at Jefferies; tgt lowered to $89
  • Microchip (MCHP) downgraded to Underperform from Neutral at BofA Securities; tgt lowered to $65
  • Netflix (NFLX) downgraded to Hold from Buy at Loop Capital; tgt raised to $950
  • Northern Oil & Gas (NOG) downgraded to Neutral from Outperform at Mizuho; tgt $47
  • Par Pacific (PARR) downgraded to Neutral from Outperform at Mizuho; tgt lowered to $22
  • PBF Energy (PBF) downgraded to Underperform from Neutral at Mizuho; tgt lowered to $31
  • Robert Half (RHI) downgraded to Underperform from Outperform at Exane BNP Paribas; tgt $64
  • Summit Materials (SUM) downgraded to Hold from Buy at Jefferies; tgt lowered to $52.50
  • Suncor Energy (SU) downgraded to Equal-Weight from Overweight at Morgan Stanley
  • Tenet Healthcare (THC) downgraded to Neutral from Buy at Goldman; tgt lowered to $140
  • TopBuild (BLD) downgraded to In-line from Outperform at Evercore ISI; tgt lowered to $381
  • Universal Health (UHS) downgraded to Neutral from Buy at Goldman; tgt lowered to $198
• Others:
  • Addus HomeCare (ADUS) initiated with a Mkt Outperform at JMP Securities; tgt $150
  • Benitec Biopharma (BNTC) initiated with a Buy at H.C. Wainwright; tgt $28
  • Colliers (CIGI) initiated with a Neutral at JP Morgan; tgt $167
  • ConocoPhillips (COP) initiated with an Overweight at Morgan Stanley; tgt $128
  • Grindr (GRND) initiated with a Buy at Goldman; tgt $20
  • Surgery Partners (SGRY) initiated with a Buy at BofA Securities; tgt $30
  • U.S. Physical Therapy (USPH) initiated with a Mkt Outperform at JMP Securities; tgt $113
  • Vishay (VSH) initiated with a Neutral at JP Morgan; tgt $19
  • Waldencast plc (WALD) initiated with a Hold at TD Cowen; tgt $4.30
  • Zenas Biopharma (ZBIO) initiated with a Buy at H.C. Wainwright; tgt $30

• Econ Data (Tuesday):
  • 08:30 ET: November Retail Sales (Briefing.com consensus 0.5%; prior 0.4%) and Retail Sales, Ex-Auto (Briefing.com consensus 0.4%; prior 0.1%)
  • 08:30 ET: November Industrial Production (Briefing.com consensus 0.3%; prior -0.3%) and Capacity Utilization (Briefing.com consensus 77.3%; prior 77.1%)
  • 10:00 ET: October Business Inventories (Briefing.com consensus 0.2%; prior 0.1%)
  • 10:00 ET: December NAHB Housing Market Index (Briefing.com consensus 47; prior 46)
• Earnings:
  • Monday (Dec 16)
    • Pre-Market: None
    • After-Hours: CMP MITK
  • Tuesday (Dec 17)
    • Pre-Market: None
    • After-Hours: HEI WOR
  • Wednesday (Dec 18)
    • Pre-Market: ABM BIRK GIS JBL TTC
    • After-Hours: LEN MU MLKN SCS WS
  • Thursday (Dec 19)
    • Pre-Market: ACN KMX CTAS CAG DRI FDS LW PAYX
    • After-Hours: FDX AVO NKE
  • Friday (Dec 20)
    • Pre-Market: CCL WGO
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike