After Hours Report

Updated: 08-May-24 17:11 ET
Airbnb travelling downhill quickly following mild Q2 guidance; ARM slides despite upbeat Q1 guidance

The S&P 500 closed little changed from yesterday, the Nasdaq Composite registered a 0.2% decline, and the Russell 2000 underperformed with a 0.5% loss. Meanwhile, the Dow Jones Industrial Average logged a 0.4% gain and closed 172 points higher than yesterday. 

The major indices traded in relatively narrow ranges through most of the session after climbing off opening lows. The overall vibe in today's trade was slightly negative despite the index level improvement and gain in the DJIA. Decliners led advancers by a 4-to-3 margin at the NYSE and by an 11-to-10 margin at the Nasdaq. 

The downside bias was related to normal consolidation efforts after recent gains. Also, the 5,200 level was an overhang for the S&P 500 after the index stalled out at that point yesterday. 

Uber (UBER 66.40, -4.03, -5.7%) was among the worst performing stocks in the S&P 500 after reporting below-consensus earnings. The S&P 500 industrial sector still eked out a fractional gain despite the movement in shares of Uber. 

The information technology (+0.2%), financials (+0.4%), and utilities (+1.1%) sectors also closed with gains. The real estate (-0.9%) and materials (-0.4%) sectors registered the largest declines. 

Some other stocks that reported earnings received positive responses from investors. Lyft (LYFT 17.78, +1.18, +7.1%), Arista Networks (ANET 291.67, +17.68, +6.5%), Reddit (RDDT 51.40, +2.00, +4.1%), and Anheuser-Busch InBev (BUD 62.99, +2.42, +4.0%) were among the winning standouts in that respect. 

The price action in Treasuries contributed to the muted action in stocks. The 10-yr note yield settled three basis points higher at 4.49% and the 2-yr note yield settled one basis point higher at 4.84%. This followed today's $42 billion 10-yr note sale, which met weaker demand than yesterday's 3-yr note auction.

  • S&P 500:+8.8% YTD
  • Nasdaq Composite: +8.6% YTD
  • S&P Midcap 400: +6.7% YTD
  • Dow Jones Industrial Average: +3.6% YTD
  • Russell 2000: +1.4% YTD

Reviewing today's economic data:

  • The weekly MBA Mortgage Applications Index rose 2.6% versus last week's 2.3% decline
  • Wholesale Inventories fell 0.4% in March (Briefing.com consensus -0.4%) following a revised 0.2% increase in February (from 0.5%).
  • The weekly EIA Crude Oil Inventories showed a draw of 1.36 million barrels following last week's build of 7.27 million barrels

Looking ahead, Thursday's economic calendar features:

  • 8:30 ET: Weekly Initial Claims (Briefing.com consensus 213,000; prior 208,000) and Continuing Claims (prior 1.774 mln)
  • 10:30 ET: Weekly natural gas inventories (prior +59 bcf)

Overseas:

  • Europe: DAX +0.3%, FTSE +0.5%, CAC +0.7%
  • Asia: Nikkei -1.5%, Hang Seng -0.9%, Shanghai -0.6%

Commodities:

  • Crude Oil +0.57 @ 78.97
  • Nat Gas -0.01 @ 2.19
  • Gold -1.70 @ 2322.30
  • Silver +0.04 @ 27.61
  • Copper -0.07 @ 4.54

After-Hours Spotlight:

  • Airbnb (ABNB) beats by $0.18, beats on revs, bookings growth of +9.5%; guides Q2 revs in-line, expects bookings to remain stable sequentially... ABNB down 8.4%
  • Arm Holdings plc (ARM) beats by $0.06, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY25 EPS in-line, revs in-line... ARM down 5.3%
  • Beyond Meat (BYND) misses by $0.17, reports revs in-line; guides Q2 revs below consensus; reaffirms FY24 revs guidance... BYND down 11.3%
  • Bumble Inc. (BMBL) beats by $0.12, reports revs in-line; guides Q2 revs below consensus; reaffirms FY24 revs guidance... BMBL up 7.4%
  • Duolingo (DUOL) beats by $0.30, beats on revs; guides Q2 revs in-line; guides FY24 revs in-line... DUOL down 13.9%
  • Instacart (CART) reports Q1 results, beats on revs, GTV up 11% yr/yr; guides for GTV of $8.0-$8.15 bln, for growth of 7-9%... CART down 3.3%
  • Robinhood Markets (HOOD) beats by $0.12, beats on revs; provides FY24 outlook... HOOD up 5.7%
  • SolarEdge Technologies (SEDG) misses by $0.35, beats on revs; guides Q2 revs below consensus... SEDG down 6.8%
  • The Trade Desk (TTD) beats by $0.04, beats on revs; guides Q2 revs above consensus... TTD up 2.0%

Fair Value for Thursday, May 9:

  • S&P 500: 5,213
  • Nasdaq 100: 18,183
  • DJIA: 39,187
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):
    • ACM Research (ACMR) beats by $0.21, beats on revs; reaffirms FY24 revs guidance
    • Affirm (AFRM) beats by $0.27, beats on revs, GMV increased 36%; guides Q4 revs above consensus
    • Alight (ALIT) reports Q1 (Mar) results, misses on revs; announces CFO change
    • Alphatec (ATEC) reports Q1 (Mar) results, beats on revs; guides FY24 revs above consensus
    • Ameresco (AMRC) beats by $0.02, beats on revs; reaffirms FY24 EPS guidance, revs guidance
    • Anheuser-Busch InBev (BUD) beats by $0.09, reports revs in-line
    • Ardmore Shipping (ASC) beats by $0.06, beats on revs
    • Arista Networks (ANET) beats by $0.25, beats on revs; guides Q2 revs in-line; authorizes additional $1.2 bln for repurchases
    • Aspen Tech (AZPN) beats by $0.24, beats on revs; guides FY24 EPS below consensus, revs below consensus; names new CFO
    • Assurant (AIZ) beats by $1.09, beats on revs
    • Astera Labs (ALAB) beats by $0.06, beats on revs; guides Q2 EPS above consensus
    • Autohome (ATHM) beats by RMB1.00, beats on revs
    • BeiGene (BGNE) beats by $0.66, beats on revs
    • Bio-Rad Labs (BIO) beats by $0.14, misses on revs
    • BlackLine (BL) beats by $0.07, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY24 EPS above consensus, revs in-line
    • Brinks (BCO) beats by $0.29, beats on revs; guides FY24 EPS in-line, revs in-line
    • Cadre Holdings (CDRE) misses by $0.06, beats on revs; reaffirms FY24 revs guidance
    • Centuri Holdings (CTRI) reports Q1 results
    • Choice Hotels (CHH) beats by $0.14, misses on revs; reaffirms FY24 EPS guidance
    • Chord Energy (CHRD) beats by $0.36, beats on revs
    • Cirrus Logic (CRUS) beats by $0.60, beats on revs; guides JunQ revs in-line but mid-point above consensus
    • Confluent (CFLT) beats by $0.03, beats on revs; guides Q2 EPS in-line, revs above consensus; guides FY24 EPS above consensus, revs above consensus
    • Corsair Gaming (CRSR) misses by $0.05, misses on revs; reaffirms FY24 revs guidance
    • Coupang (CPNG) misses by $0.05, beats on revs
    • Dine Brands (DIN) misses by $0.24, misses on revs; reaffirms FY24 domestic comp guidance
    • DoubleVerify (DV) misses by $0.08, beats on revs; guides Q2 revs below consensus; lowers FY24 revs below consensus
    • Ducommun (DCO) beats by $0.34, reports revs in-line
    • Dutch Bros (BROS) beats by $0.08, beats on revs; raises FY24 revenue guidance
    • Edgewell Personal Care (EPC) beats by $0.16, misses on revs; raises FY24 EPS guidance above consensus
    • Electronic Arts (EA) misses by $0.01, misses on revs; guides Q1 EPS in-line, revs below consensus; guides FY25 EPS below consensus, revs below consensus
    • Emerson (EMR) beats by $0.11, beats on revs; guides Q3 EPS below consensus; guides FY24 EPS above consensus, revs below consensus
    • Envestnet (ENV) beats by $0.05, reports revs in-line; guides Q2 EPS in-line, revs in-line
    • Flywire (FLYW) misses by $0.02, beats on revs; guides Q2 revs in-line; guides FY24 revs in-line
    • Fox Corporation (FOXA) beats by $0.44, reports revs in-line
    • Globus Medical (GMED) beats by $0.15, beats on revs; raises both FY24 EPS, revs outlook
    • Grand Canyon Education (LOPE) beats by $0.13, reports revs in-line; guides Q2 EPS below consensus, revs in-line; guides Q3 (Sep) EPS in-line, revs in-line; guides FY24 EPS in-line, reaffirms FY24 revs guidance
    • Grocery Outlet (GO) misses by $0.09, beats on revs, comps +3.9%; cuts FY24 EPS outlook, reaffirms FY24 revs guidance
    • GXO Logistics (GXO) beats by $0.03, beats on revs; reaffirms FY24 EPS guidance, organic revenue growth guidance
    • Halozyme Therapeutics (HALO) beats by $0.10, misses on revs; reaffirms FY24 EPS guidance, revs guidance
    • HF Sinclair (DINO) beats by $0.11, misses on revs; Authorized a new $1.0 billion share repurchase program
    • IAC Inc. (IAC) beats by $1.83, reports revs in-line, issues FY24 guidance
    • Icahn Enterprises (IEP) reports Q1 results
    • ICHOR Corporation (ICHR) misses by $0.09, reports revs in-line; guides Q2 EPS below consensus, revs in-line
    • ICU Medical (ICUI) beats by $0.14, beats on revs
    • Inspire Medical Systems (INSP) beats by $0.31, beats on revs; guides FY24 EPS above consensus, revs above consensus
    • Intapp (INTA) beats by $0.07, beats on revs; guides Q4 EPS above consensus, revs in-line
    • Intel (INTC) confirms U.S. Department of Commerce informed Intel that it was revoking certain licenses for exports of consumer-related items to a customer in China effective immediately; sees Q2 revs below midpoint of guidance range
    • Inter Parfums (IPAR) misses by $0.27, reports revs in-line (single est); reaffirms FY24 EPS guidance, revs guidance
    • International Money Express (IMXI) reports Q1 results; guides Q2 EPS in-line, revs in-line; guides FY24 EPS in-line, revs in-line
    • iRobot (IRBT) beats by $0.48, beats on revs; guides Q2 EPS below consensus, revs in-line; guides FY24 EPS above consensus, revs in-line
    • Jack Henry (JKHY) reports Q3 (Mar) results, revs in-line; reaffirms FY24 revs guidance
    • Kennametal (KMT) reports EPS in-line, revs in-line; narrows FY24 guidance
    • Keros Therapeutics (KROS) beats by $0.12, beats on revs
    • Kinross Gold (KGC) beats by $0.04, beats on revs
    • Kratos Defense and Security (KTOS) beats by $0.06, beats on revs; guides Q2 revs in-line; guides FY24 revs in-line
    • Kyndryl (KD) beats by $0.01, beats on revs
    • LCI Industries (LCII) beats by $0.92, reports revs in-line
    • Liberty Media (LSXMA) reports Q1 results and reaffirms FY24 guidance
    • Ligand Pharma (LGND) beats by $3.01, beats on revs; reaffirms FY24 revs guidance
    • Louisiana-Pacific (LPX) beats by $0.41, beats on revs; guides Q2 revs in-line; guides FY24 revs above consensus; increases buyback
    • Lyft (LYFT) beats by $0.09, beats on revs, gross bookings up 21%, ahead of guidance, adjusted EBITDA of $59.4 mln, also ahead of guidance; Guides for Q2 gross bookings of $4.0-$4.1 bln, adjusted EBITDA of $95-$100 mln
    • Masimo (MASI) beats by $0.07, beats on revs; guides Q2 EPS below consensus, revs in-line; raises FY24 EPS above consensus, revs in-line
    • MasterCraft (MCFT) beats by $0.14, beats on revs; guides FY24 EPS below consensus, revs below consensus
    • Match Group (MTCH) beats by $0.03, reports revs in-line; guides Q2 revs below consensus, expects total FY24 revenue growth to be near lower end of prior guidance range of 6-9%
    • McKesson (MCK) misses by $0.18, misses on revs; guides FY25 EPS above consensus, revs above consensus
    • Mercury (MRCY) misses by $0.24, misses on revs; reaffirms FY24 revs guidance
    • Middleby (MIDD) misses by $0.17, misses on revs
    • New York Times (NYT) beats by $0.11, reports revs in-line
    • NiSource (NI) beats by $0.02; reaffirms FY24 EPS guidance
    • Occidental Petro (OXY) beats by $0.05, misses on revs
    • ODDITY Tech Ltd. (ODD) beats by $0.14, beats on revs; guides Q2 EPS above consensus, revs in-line; raises FY24 EPS above consensus, revs in-line
    • Ovintiv (OVV) misses by $0.17; reports average total production volumes of approx. 574 MBOE/d
    • Penumbra (PEN) beats by $0.03, beats on revs; guides FY24 revs in-line
    • Performance Food Group (PFGC) misses by $0.04, misses on revs; guides Q4 revs below consensus; guides FY24 revs below consensus
    • Perion Network (PERI) beats by $0.06, reports revs in-line; guides Q2 revs in-line; guides FY24 revs in-line
    • Permian Resources (PR) misses by $0.12, beats on revs; raises dividend by 20%
    • Power Integrations (POWI) beats by $0.05, beats on revs; guides Q2 revs in-line
    • PROS Holdings (PROS) beats by $0.03, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY24 revs in-line
    • PubMatic (PUBM) beats by $0.06, beats on revs; guides Q2 revs above consensus; guides FY24 revs above consensus
    • Qualys (QLYS) beats by $0.14, reports revs in-line; guides Q2 EPS in-line, revs below consensus; guides FY24 EPS in-line, revs in-line
    • Radware (RDWR) beats by $0.03, beats on revs
    • Radware (RDWR) on call guides Q2 EPS and revs in-line with consensus
    • Rapid7 (RPD) beats by $0.01, reports revs in-line; guides Q2 EPS in-line, revs below consensus; reaffirms FY24 EPS guidance, guides FY24 revs below consensus
    • Redfin (RDFN) beats by $0.01, beats on revs; guides Q2 revs above consensus
    • Reddit (RDDT) beats by $0.56, beats on revs; guides Q2 revs above consensus
    • Reynolds Consumer Products (REYN) beats by $0.01, beats on revs; guides Q2 EPS above consensus, revs in-line; guides FY24 EPS in-line, reaffirms FY24 revs guidance
    • RingCentral (RNG) beats by $0.07, beats on revs; guides Q2 EPS above consensus, revs in-line; raises FY24 EPS and revenue guidance
    • Rivian Automotive (RIVN) misses by $0.33, beats on revs; reaffirms 2024 annual guidance for 57K total units produced
    • Sapiens Int'l (SPNS) beats by $0.02, reports revs in-line; reaffirms FY24 revs guidance
    • Shopify (SHOP) beats by $0.03, reports revs in-line
    • SmartRent (SMRT) misses by $0.03, misses on revs; guides Q2 revs in-line; reaffirms FY24 revs guidance
    • Sonos (SONO) beats by $0.12, beats on revs; reaffirms FY24 revs guidance
    • Southwest Gas (SWX) misses by $0.05, beats on revs
    • STAAR Surgical (STAA) reports Q1 results; beats on revs; guides FY24 revs in-line
    • Suncor Energy (SU) beats by CAD0.17
    • Sunoco LP (SUN) beats by $0.95, beats on revs
    • Super Group (SGHC) reports Q1 (Mar) results, beats on revs
    • TEGNA (TGNA) beats by $0.01, reports revs in-line; guides Q2 revs in-line
    • Toast (TOST) reports Q1 (Mar) results, beats on adjusted EBITDA and revs; raises FY24 adjusted EBITDA guidance
    • Toyota Motor (TM) beats on top and bottom lines
    • TPG Inc. (TPG) beats by $0.06, beats on revs
    • TripAdvisor (TRIP) beats by $0.08, reports revs in-line
    • Twilio (TWLO) beats by $0.21, beats on revs; guides Q2 EPS in-line, revs below consensus; raises FY24 non-GAAP income from ops
    • Uber (UBER) misses by $0.54, reports revs in-line
    • Upstart (UPST) beats by $0.06, misses on revs; guides Q2 revs below consensus
    • Valvoline (VVV) beats by $0.02, reports revs in-line; guides FY24 EPS in-line, revs in-line
    • Vericel (VCEL) beats by $0.03, beats on revs; guides FY24 revs in-line
    • Virgin Galactic (SPCE) beats by $0.04, misses on revs; guides Q2 revs below consensus
    • Wolverine (WWW) beats by $0.11, beats on revs; reaffirms FY24 EPS guidance, guides FY24 revs in-line
    • Wynn Resorts (WYNN) beats by $0.30, beats on revs
    • ZoomInfo (ZI) beats by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; guides FY24 EPS in-line, revs in-line; buyback increased
  • General News
    • Delegations from Israel and Hamas will resume temporary ceasefire negotiations as Israel sends tanks into Rafah, according to the New York Times
    • Federal judge Aileen Cannon postponed former President Donald Trump's classified documents trial without setting a new date, according to the New York Times
    • AbbVie (ABBV): QULIPTA now approved by Health Canada for the preventive treatment of chronic migraine in adults
    • Accenture (ACN) and Virgin Media O2 announce a new collaboration to seize opportunities in the UK’s growing mobile private network market estimated to reach £528 mln by 2030
    • Aecom Tech (ACM) announces that its joint venture with Arup has been appointed as a design and consenting service partner for the UK National Grid’s Great Grid Partnership
    • AerCap (AER) announces new engine order, new share repurchase authorization and first cash dividend
    • Albemarle (ALB) announces an innovative agreement with Martin Marietta Materials (MLM) to make beneficial use of extracted limestone material from Albemarle's proposed Kings Mountain Mine project
    • Amazon (AMZN) largest fleet of heavy-duty electric trucks hits the road
    • Apple (AAPL): China Apple iPhone shipments increased 12% in March amid discounts, according to Bloomberg
    • Apple (AAPL) top designer Duncan Kerr to leave the company, according to Bloomberg
    • Apple (AAPL): Communications Workers of America charges Apple with additional labor law violations
    • Archer Aviation (ACHR) has completed the build out of its high-volume battery pack manufacturing line
    • Aspen Tech (AZPN) appoints David Becker as CFO, effective June 3
    • Astellas Pharma (ALPMY) announces the opening of a new $90 mln, state-of-the-art center at 480 Forbes Boulevard in South San Francisco, CA
    • AstraZeneca (AZN) withdrew COVID-19 vaccine worldwide amid lower than expected demand, according to CNN
    • Avidity Biosciences (RNA) announces that the U.S. FDA has granted Breakthrough Therapy designation to delpacibart etedesiran for the treatment of myotonic dystrophy type 1
    • Boeing (BA) 767 cargo jet crashed upon landing in Turkey following failure of landing gear, according to Daily Mail
    • CGI Group  (GIB) and Nokia Corporation (NOK) have signed an agreement that deepens their strategic partnership, combining leading-edge 5G private wireless networking technology with CGI business services and solutions
    • Chesapeake Utilities (CPK) increases quarterly cash dividend to $0.64/share from $0.59/share
    • CME Group (CME) reaches multiple records across U.S. Crude Oil futures
    • Coherus BioSciences (CHRS) announces clinical collaboration with the cancer research institute for a novel combination evaluating LOQTORZI with ENB Therapeutics' ENB-003 for the treatment of ovarian cancer
    • COMPASS Pathways (CMPS) announces top-line results from an open-label phase 2 study evaluating the safety and tolerability of investigational COMP360 psilocybin treatment in 22 patients with post-traumatic stress disorder
    • Cytokinetics (CYTK) announced topline data from the Phase 1 study of CK-4021586
    • CytomX Therapeutics (CTMX) has entered into a clinical trial collaboration and supply agreement with Merck (MRK) for CytomX’s first-in-human Phase 1 clinical trial assessing the clinical activity of CX-801, a dually-masked interferon-alpha2b cytokine in combination with Merck’s anti-PD-1 therapy KEYTRUDA
    • Daimler Truck Holding AG (DTRUY) unveils battery electric autonomous Freightliner eCascadia technology demonstrator
    • Dick's Sporting Goods (DKS) announces multi-year partnership with the Boston Celtics and Red Sox, becoming the official sporting goods retail partner of each team
    • Digi International (DGII) Prevails in Patent Infringement Case
    • DocGo (DCGO) discloses cybersecurity update
    • Donaldson (DCI) announces its Isolere Bio and Univercells Technologies businesses are developing an integrated upstream and downstream platform for viral vector manufacturing
    • Elbit Systems (ESLT) receives ~$53 million contract to supply Crossbow Unmanned Turreted Mortar Systems for a European Customer
    • Electronic Arts (EA) authorizes new $5.0 bln repurchase program; to expire on May 9, 2027
    • Exxon Mobil's (XOM) Liza Unity production vessel in Guyana reaches production milestone of 252,000 barrels per day, according to Reuters
    • FedEx (FDX) plans to close seven service centers across the country in 2024, representing approx. 1% of FedEx Freight’s door count, according to FreightWaves
    • General Motors (GM) will stop production of Malibu in the fall, according to Detroit News
    • Global Indemnity plc (GBLI) merger discussions with James River Group (JRVR) are on "pause", according to Insurance Insider
    • Hannon Armstrong Sust. Infr. (HASI) and (KKR) establish $2 billion strategic partnership to invest in sustainable infrastructure projects
    • Helios Technologies (HLIO) announces that its operating company Balboa Water Group has signed a strategic agreement with WaterGuru
    • HIVE Digital Technologies (HIVE) reports April 2024 Bitcoin Production with 5 Exahash and HODL Grown to 2,377 Bitcoin
    • Hyster-Yale (HY) increases quarterly cash dividend to $0.35/share from $0.325/share
    • IBM (IBM) and SAP SE (SAP) plan to expand collaboration to help clients become next-generation enterprises with generative AI
    • ICF International (ICFI): The U.S. Agency for International Development Bureau for Global Health has awarded global consulting and technology services provider ICF a five-year, $236 mln recompete contract to continue to deliver their Demographic and Health Surveys Program
    • iHeartMedia (IHRT): NBCUniversal has chosen iHeartMedia as its exclusive audio partner for the Olympic Games Paris 2024
    • iRobot (IRBT) announces that Gary Cohen will serve as the company's new chief executive officer, effective immediately
    • Janux Therapeutics (JANX) files mixed securities shelf offering for an undisclosed amount
    • JP Morgan (JPM) aiming to limit exposure to Segantii Capital Management, according to Bloomberg
    • Keysight (KEYS) has received formal approval from the Netherlands Vehicle Authority to become a designated technical service provider for approval of the United Nations Economic Commission for Europe R155 and R156 regulations
    • Leonardo DRS (DRS) announces that it was awarded a contract from Boeing (BA) Defense to provide the upgraded Aerial Refueling Operator Station for new U.S. Air Force KC-46 Pegasus refueling tanker aircraft
    • LyondellBasell (LYB) announced the formal launch of a strategic review of the European assets of its Olefins & Polyolefins and Intermediates & Derivatives business units
    • Manulife (MFC) amends its normal course issuer bid to repurchase for cancellation up to an additional 40 million of its common shares
    • Microsoft (MSFT): President Biden to highlight $3.3 billion investment in Racine, Wisconsin; Microsoft will build a new AI datacenter
    • Microsoft (MSFT) confirms $3.3 billion investment in Wisconsin to spur artificial intelligence innovation and economic growth
    • NextNav (NN) announces the appointment of Dr. Sanyogita Shamsunder as NextNav’s new Chief Operating Officer, effective May 9, 2024
    • Noah Holdings limited (NOAH) provides further updates on the status of the legal proceedings related to certain credit funds managed by Shanghai Gopher Asset Management Co., Ltd.
    • Olo Inc. (OLO) has been selected by Dutch Bros to enable seamless ordering and payment through its mobile app for the first time
    • PC Connection (CNXN) announces that its public sector subsidiary, Connection Public Sector Solutions, has been awarded a Blanket Purchase Agreement for the Administrative Office of the U.S. Courts and the Federal Judiciary
    • Pfizer (PFE) aiming to settle over 10,000 Zantac lawsuits, according to Bloomberg
    • PowerSchool (PWSC): Bain mulling takeover of PWSC, according to WSJ
    • Provident Bancorp (PVBC) appoints Kenneth Fisher as CFO both of the co and the bank
    • Qiagen (QGEN) announces a cooperative research and development agreement with the U.S. Federal Bureau of Investigation to develop a novel test for its QIAcuity digital PCR devices that will boost forensics by improving the quantification of DNA in human samples
    • Regeneron Pharma (REGN): Latest DB-OTO Results Show Dramatically Improved Hearing to Normal Levels in a Child with Profound Genetic Deafness within 24 Weeks and Initial Hearing Improvements in a Second Child at 6 Weeks
    • Seadrill Ltd (SDRL) announces contract awards for two drillships
    • STAAR Surgical (STAA) announces milestone strategic agreement in U.S. with IQ laser vision
    • Telefonica (TEF) will move 1 mln 5G customers to Amazon Web Services (AMZN) starting next month, according to Reuters
    • Tesla (TSLA) CEO Elon Musk recommended that China allow testing of self driving cars, according to Reuters
    • Teva Pharma (TEVA) and Medincell announce results from the efficacy portion of the Phase 3 Subcutaneous OLAnzapine extended-Release Injection Study trial evaluating TEV-‘749 in adult patients with schizophrenia compared to placebo
    • TotalEnergies SE (TTE) announces successful first oil production on the Eldfisk North Project, located in the Greater Ekofisk Area in the North Sea
    • TruBridge (TBRG) and Multiview Financial Software announce a newly formed strategic partnership at TruBridge’s recent annual National Client Conference held in Las Vegas, Nevada
    • Vale S.A. (VALE) clarifies payment request from the Brazilian Federal Attorney General’s Office
    • Warner Bros. Discovery (WBD) plans fresh cost cut measures in pursuit of financial targets; raises subscription price for Max, according to Bloomberg
    • Watts Water Tech. (WTS) increases quarterly dividend to $0.43/share from $0.36/share
    • Wolverine (WWW) has appointed Taryn Miller as the Company’s Chief Financial Officer, effective May 9, 2024

G(see Upgrades/Downgrades calendar for full list):

  • Upgrades:
    • Alignment Healthcare (ALHC) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $8
    • Block (SQ) upgraded to Buy from Accumulate at Phillip Securities
    • Boston Beer Co (SAM) upgraded to Hold from Sell at Deutsche Bank; tgt $273
    • Confluent (CFLT) upgraded to Buy from Hold at Canaccord Genuity; tgt $35
    • Datadog (DDOG) upgraded to Outperform from Neutral at Robert W. Baird; tgt raised to $140
    • Energizer (ENR) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt $33
    • Envestnet (ENV) upgraded to Hold from Underperform at Jefferies; tgt raised to $59
    • Hexcel (HXL) upgraded to Overweight from Equal Weight at Wells Fargo; tgt raised to $95
    • HireRight Holdings (HRT) upgraded to Outperform from Mkt Perform at William Blair
    • Intl Flavors (IFF) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $100
    • Nutanix (NTNX) upgraded to Outperform from Mkt Perform at Raymond James; tgt $72
    • Old Dominion (ODFL) upgraded to Outperform from Neutral at Robert W. Baird; tgt $205
    • Orthofix (OFIX) upgraded to Buy from Neutral at ROTH MKM; tgt raised to $20
  • Downgrades:
    • Definitive Healthcare (DH) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $9
    • DoubleVerify (DV) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
    • Golub Capital (GBDC) downgraded to Mkt Perform from Outperform at Raymond James
    • NASDAQ (NDAQ) downgraded to Neutral from Buy at Rosenblatt; tgt lowered to $64
    • Nuvei Corporation (NVEI) downgraded to Neutral from Overweight at JP Morgan; tgt raised to $34
    • Premier (PINC) downgraded to Hold from Buy at Canaccord Genuity; tgt lowered to $21
    • Rhythm Pharmaceuticals (RYTM) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $42
    • Runway Growth Finance (RWAY) downgraded to Neutral from Buy at Compass Point; tgt $12.75
    • Saratoga Investment (SAR) downgraded to Perform from Outperform at Oppenheimer
    • Shoals Technologies (SHLS) downgraded to Neutral from Buy at ROTH MKM; tgt lowered to $8
    • Treace Medical Concepts (TMCI) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $8
    • Treace Medical Concepts (TMCI) downgraded to Neutral from Buy at BTIG Research
    • Treace Medical Concepts (TMCI) downgraded to Hold from Buy at Stifel; tgt lowered to $6
    • Victoria's Secret (VSCO) downgraded to Underweight from Equal Weight at Barclays; tgt $14
    • Vishay Precision (VPG) downgraded to Neutral from Buy at B. Riley Securities; tgt lowered to $36
    • WideOpenWest (WOW) downgraded to Mkt Perform from Outperform at Raymond James
    • WK Kellogg Co (KLG) downgraded to Underperform from Neutral at Exane BNP Paribas; tgt $20
    • ZoomInfo (ZI) downgraded to Sell from Neutral at Goldman; tgt lowered to $12
    • ZoomInfo (ZI) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $15
    • ZoomInfo (ZI) downgraded to Neutral from Buy at Mizuho; tgt lowered to $14
  • Others:
    • Chart Industries (GTLS) resumed with an Equal Weight at Barclays; tgt $193
    • lululemon athletica (LULU) resumed with a Buy at BTIG Research; tgt $425
    • Sutro Biopharma (STRO) initiated with a Buy at BofA Securities; tgt $12
  • Econ Data (Thursday):
    • 8:30 ET: Weekly Initial Claims (Briefing.com consensus 213,000; prior 208,000) and Continuing Claims (prior 1.774 mln)
    • 10:30 ET: Weekly natural gas inventories (prior +59 bcf)
  • Treasury Auctions:
    • 13:00 ET: $25 bln 30-yr Treasury bond auction results
  • Earnings:
    • Monday (May 6)
      • Pre-Market: AMG AMR AESI BCRX BNTX CNA FRPT IART JLL JELD KRYS MFA MODN NSSC NWN PRFT SAVE SHO THS TSN
      • After-Hours: ADUS ADTN ACM AL ATSG AXON BRBR BCC BYON BWXT CBT COHR COTY DOOR EVER FN FIS FMC GBDC GT HIMS IFF JJSF LCID LITE VAC MTTR MCHP MWA NHI NE OGS OTTR PLTR PAY PLYA PRAA PRI PRA O RRX RKLB RXST SAFE SWAV SPG SYM SNCY TALO TDC AAN TVTX TBI UCTT VRNS VRTX VMEO VNO WMB ZETA
    • Tuesday (May 7)
      • Pre-Market: GOLF AHCO APLS ARMK ATKR AVNT BAND BSY BLMN BP BLDR CELH CEIX CROX DDOG DK DORM DUK ERJ EHTH ENR NPO EVGO EXPD FWRG FTRE GFS GOGO GTN HR HSIC HLMN ITCI IONS J KVUE KNF MDGL MKTX NJR NOVT NRG OSCR MD PRGO PTLO PINC RYTM ROK SCSC SRE SPR SQSP SGRY TPX TWKS BLD TDG VVX DIS WAT WOW KLG
      • After-Hours: ABCL ADPT AGL AOSL ATEC ALGT AMRC AWR ANDE ANGI ALTM ANET AZPN AIZ AGO ALAB ASTH BBDC BIO BL BHF CDRE CRC CERT CHRD CRUS CFLT CRSR CPNG CYRX DH DV DEI BROS EA ENV EOLS FLYW GMED GPRO LOPE GO GXO HALO IAC ICHR ICUI INGN INSP INTA IPAR IRBT JKHY JOBY KTOS KD LZ LGND LAZR LYFT MGY MTW MASI MTCH MCK MRCY MLNK MYGN MQ NRDY NVRO OXY ODD OLO LPRO OVV PCRX PEN PR POWI PWSC PRO PUBM QLYS RPD RRR RDDT RDFN RVLV RNG RIVN SHLS SONO STAA RGR BRP TOST TMCI TRIP TWLO USPH UIS UPST VECO VCYT SPCE VTEX WYNN ZI
    • Wednesday (May 8)
      • Pre-Market: DIBS ACMR AFRM ALIT BUD ASC ATHM AVDL AVDX BCO BR CHH CLVT YOU DIN SATS EPC EDIT EMR ELAN EVRI FOXA FREY GENI GFF HAIN DINO HLLY INGR IMXI INSW KMT KRNT LCII LPX MCFT MIDD EYE NFE NYT NI ODP PAYO PFGC PERI RCM RDWR REYN SPNS SMRT SWX STWD SUN SNDX TBLA TGNA TEVA TPG UBER PRKS VVV VCEL VERX VRDN VSH WWW
      • After-Hours: EGHT ACAD ACVA ASLE ABNB AMC DOX APP RCUS ARM ATO AZEK AZTA BGS BYND BKH BMBL CDLX CE CAKE CPK CXW CPAY CXT CYTK DUOL ECPG ET ESTA EXAS FNF FLNC FWRD FSK GNK HL HLIO HPK HMN HLI HUBS IIPR CART INST IONQ JXN JRVR JAMF KW KNTK KVYO KGS KYTX LESL LNW MGNI MNKD MRVI MMS MKSI MRC NWSA NUS OSUR ORA PYCR PETQ PRIM PRTA QDEL QNST METC RDNT RGNX RVMD HOOD RGLD SBRA SBGI SITM STR SEDG STE SLF STKL RUN SUPN TTD TKO MODG COOK TTEC VSTO VTLE VZIO WTS WES ZD
    • Thursday (May 9)
      • Pre-Market: ALGM ALE FOLD AHH BERY BIGC CAMT CSIQ CARS CRNC CEVA CRL CWEN CCOI CEG EMBC EDR EPAM EVRG FA FVRR GDRX HAE HBI HGV HIMX H INSM IBP IMOS NTLA IRWD JBI DNUT LFST MSGE MPW MRSN NABL VYX NTCT NXST NOMD NVMI PZZA PAR PLNT PLUG PLTK PRVA RBLX SBH STNG SN FOUR SIX SPB STVN TPR TGLS TNK TSEM USFD VTRS WRBY WBD WMG XMTR YETI
      • After-Hours: ADMA AKAM ALRM COLD AMN AMPL AAOI ARLO ARRY ARWR AVPT BW BLNK BE CDNA CARG CHUY CLNE CLSK COLL CRNX LAW DIOD DBX ESE EVCM EVH EXFY FIGS FNKO GEN G GDOT GH HRB HCAT INDI IOSP PODD IAS IOVA FROG MARA MERC MTUS MTD NTRA NVTS ONTO PACB PGNY RXT RXRX RPAY RVNC SVV SSP SOUN SG SYNA TTGT SKIN TREX U VTYX VCTR WEST XENE YELP ZIP
    • Friday (May 10)
      • Pre-Market: AMCX ANIP CLMT ROAD DOCN DNOW SLVM
      • After-Hours: HE
    • General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike
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