After Hours Report

Today's trade was mixed following yesterday's CPI-induced surge. The Nasdaq Composite underperformed its peers, dropping 0.9%, while the Dow Jones Industrial Average (-0.2%) and S&P 500 (-0.2%) traded around their prior closing levels. The Russell 2000 eked out a 0.2% gain. 

There was a big batch of economic data, earnings news, and headlines to digest today and most of them could've acted as support for the stock market. Retail sales and weekly jobless claims reflected ongoing strength in the economy and labor market, Treasury Secretary nominee Scott Bessent reiterated at his confirmation hearing that the U.S. must get its fiscal house in order while also pursuing pro-growth policies, and Fed Governor Waller (FOMC voter) said he believes that there could possibly be 3-4 rate cuts this year, depending on the data.

Treasury yields declined after Fed Governor Waller's remarks. The 10-yr yield settled five basis points lower at 4.61% and the 2-yr yield settled two basis points lower at 4.24%.

Equities still struggled, though, due to technical resistance after the S&P 500 could not maintain a posture above its 50-day moving average (5,962) and due to losses in influential names. Apple (AAPL 228.26, -9.61, -4.0%), NVIDIA (NVDA 133.57, -2.67, -2.0%), Tesla (TSLA 413.82, -14.40, -3.4%), Amazon.com (AMZN 220.66, -2.69, -1.2%), Meta Platforms (META 611.30, -5.82, -0.9%), and Microsoft (MSFT 424.58, -1.73, -0.4%) were among the standouts in that respect. 

Some companies that reported earnings traded lower despite better-than-expected results. Bank of America (BAC 46.64, -0.46, -1.0%) and US Bancorp (USB 48.03, -2.87, -5.6%) were among them while Morgan Stanley (MS 135.81, +5.26, +4.0%) hit a fresh 52-week high in response to earnings. 

Dow component UnitedHealth (UNH 510.59, -32.83, -6.0%) was another name that reported results, stumbling after reporting Q4 and year-end results that featured a higher medical care ratio.

Losses in some of the aforementioned names weighed down the S&P 500 information technology (-1.3%), communication services (-1.0%), and consumer discretionary (-0.9%) sectors while the remaining eight sectors registered gains ranging from 0.4% (health care) to 2.6% (utilities). 

• S&P Midcap 400: +3.4% YTD
• Russell 2000: +1.6% YTD
• Dow Jones Industrial Average: +1.4% YTD
• S&P 500: +1.0% YTD
• Nasdaq Composite: +0.1% YTD

Reviewing today's economic data:

• December Retail Sales 0.4% (Briefing.com consensus 0.5%); Prior was revised to 0.8% from 0.7%, December Retail Sales ex-auto 0.4% (Briefing.com consensus 0.5%); Prior 0.2%
  • The key takeaway from the report is that retail sales, which are not adjusted for price changes, were more subdued than expected in December, suggesting consumers spent in a more considerate manner. Importantly, though, they remained inclined to spend.
• Weekly Initial Claims 217K (Briefing.com consensus 212K); Prior was revised to 203K from 201K, Weekly Continuing Claims 1.859 mln; Prior was revised to 1.877 mln from 1.867 mln
  • The key takeaway from the report is that there was nothing disruptive about it in terms of the market's understanding that the labor market, overall, continues to be in pretty good shape.
• January Philadelphia Fed Index 44.3 (Briefing.com consensus -6.0); Prior was revised to -10.9 from -16.4
• December Export Prices 0.3%; Prior 0.0%
• December Export Prices ex-ag. 0.3%; Prior was revised to 0.0% from 0.1%
• December Import Prices 0.1%; Prior 0.1%
• December Import Prices ex-oil 0.1%; Prior was revised to 0.1% from 0.0%
• November Business Inventories 0.1% (Briefing.com consensus 0.1%); Prior was revised to 0.0% from 0.1%
• January NAHB Housing Market Index 47 (Briefing.com consensus 45); Prior 46

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

• 8:30 ET: December Housing Starts (Briefing.com consensus 1.318 mln; prior 1.289 mln), Building Permits (Briefing.com consensus 1.454 mln; prior 1.505 mln)
• 9:15 ET: December Industrial Production (Briefing.com consensus 0.3%; prior -0.1%) and Capacity Utilization (Briefing.com consensus 77.0%; prior 76.8%)
• 16:00 ET: November Long-Term TIC Flows (prior $152.3 bln)

Overseas:

• Europe: DAX +0.3%, FTSE +1.1%, CAC +2.1%
• Asia: Nikkei +0.3%, Hang Seng +1.2%, Shanghai +0.3%

Commodities:

• Crude Oil +0.94 @ 77.82
• Nat Gas +0.16 @ 3.73
• Gold +33.80 @ 2751.30
• Silver +0.14 @ 31.68
• Copper +0.04 @ 4.43

After-Hours Spotlight:

• J.B. Hunt Transport (JBHT) misses by $0.09, reports revs in-line... JBHT down 1.8%
• Otis Worldwide (OTIS) authorizes $2 billion for share repurchase... OTIS up 1.8%
• Plug Power (PLUG) closes $1.66 bln loan guarantee from the U.S. Department of Energy... PLUG up 4.0%
• Rivian Automotive (RIVN) closes its loan agreement with the U.S. Department of Energy’s Loan Programs Office for up to $6.6 billion in financial support for the construction of its next manufacturing facility in Stanton Springs North... RIVN up 2.6%
• Western Digital (WDC) releases prelim Q2 (Dec) guidance; revs to be at midpoint of prior guidance, earnings toward lower end... WDC down 0.4%

Fair Value for Friday, Jan 17:

• S&P 500: 5,977
• Nasdaq 100: 21,252
• DJIA: 43,389

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

• Earnings/Guidance (Full Earnings Calendar):
  • Aris Mining Corporation (ARMN) reports 2024 gold production of 210,955 ounces from its two operations in Colombia; Issues 2025 gold production and AISC guidance
  • Bank of America (BAC) beats by $0.05, reports revs in-line; provides FY25 outlook
  • Blue Owl Capital (OBDC) sees Q4 EPS above consensus
  • Capital Southwest Corp. (CSWC) issues in-line Q3 net investment income per share guidance
  • Concentrix (CNXC) beats by $0.25, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus; increases repurchase plan
  • Eos Energy (EOSE) sees Q4 revs above consensus; reaffirms FY25 revs outlook
  • Establishment Labs (ESTA) provides in line FY25 guidance at JP Morgan conference
  • Evolent Health (EVH) reiterates its long-term outlook in investor presentation
  • First Horizon (FHN) beats by $0.04
  • H.B. Fuller (FUL) misses by $0.08, reports revs in-line; guides FY25 revs below consensus
  • Home Bancshares (HOMB) misses by $0.02, reports revs in-line
  • Insteel Industries (IIIN) misses by $0.04, beats on revs
  • Life Time (LTH) sees Q4 EPS and revs above consensus
  • M&T Bank (MTB) beats by $0.17; provides 2025 outlook
  • Main Street Capital (MAIN) guides Q4 net investment income per share slightly below consensus
  • Masimo (MASI) issues upside Q4 revenue guidance, upside FY25 EPS guidance
  • Morgan Stanley (MS) beats by $0.52, beats on revs
  • Orion Engineered Carbons (OEC) lowers FY24 adjusted EBITDA guidance due primarily to FX translation impacts
  • Orla Mining (ORLA) provides an operational update for the fourth quarter and year ended December 31, 2024, as well as preliminary 2025 guidance
  • Pan Am Silver (PAAS) achieves 2024 production guidance
  • Pearson Plc (PSO) reports FY24 trading update
  • PNC (PNC) beats by $0.44, beats on revs; guides Q1 revs in-line
  • Polestar (PSNY) Publishes Selected Results for the Third Quarter and Updates FY 2024 Guidance
  • Prudential (PRU) assets under management of the PGIM segment were $1.38 trillion as of December 31, 2024; revised Q3 supplement
  • Rio Tinto (RIO) releases Q4 production figures
  • Sezzle (SEZL) expects to exceed its prior 2024 total revenue and adjusted EPS guidance
  • Stellantis (STLA) reports Q4 shipment estimates
  • Synovus (SNV) beats by $0.10, beats on revs; offers guidance in slides
  • Taiwan Semiconductor Manufacturing (TSM) beats on EPS and revs
  • Target (TGT) raises Q4 comp guidance; reaffirms Q4 EPS guidance; announces holiday sales; makes leadership changes
  • TotalEnergies (TTE) provides Q4 main indicators
  • Trimble (TRMB) files Form 10-K/A for 2023 and issuance of Forms 10-Q for first, second and third quarters of 2024; Remediation to internal controls well underway - No changes have been made to previously reported financial statements
  • UnitedHealth (UNH) beats by $0.08, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
  • U.S. Bancorp (USB) beats by $0.02, reports revs in-line; guides FY25 revs in-line
  • Westamerica Bancorporation (WABC) reports fourth quarter 2024 financial results
• General News
  • Israeli Prime Minister Benjamin Netanyahu accused Hamas of making last minute demands, which could risk ceasefire negotiations, according to Bloomberg
  • Treasury Secretary nominee Scott Bessent will tell Congress today that dollar's reserve currency status is critical for US economy, according to Bloomberg
  • Canada preparing $105 bln in retaliatory tariffs if Present-elect Trump imposes tariffs on Canadian exports, according to Bloomberg
  • President-elect Trump mulls executive order to suspend enforcement of the TikTok ban, according to The Washington Post
  • Allies of both President Biden and President-elect Trump are considering ways to delay ban on TikTok. TikTok's CEO will attend Mr. Trump's inauguration on Monday, according to Bloomberg
  • OMB nominee Russell Vought believes Trump administration can claw back spending and shrink government, according to the New York Times
  • Electrical tower in focus for possible cause of Eaton fire, according to NBC News
  • China investigating US chip companies for alleged dumping, according to Bloomberg
  • Florida Governor Ron DeSantis selects Ashley Moody (Florida's current AG) to fill Senate seat vacated by Marco Rubio, who will be Secretary of State, according to Axios
  • U.S. Department of the Treasury releases guidance on domestic content bonus for clean energy credits
  • President-elect Trump expected to delay TikTok ban, but President Biden is not planning to get involved, according to Bloomberg
  • Canada prepares multi-stage counter-tariff plan in response to potential US , according to Bloomberg
  • Chicago Fed President Austan Goolsbee (voting FOMC member) argues that the Fed should be more patient with rate cuts, according to WSJ
  • President Biden issues executive order on strengthening and promoting innovation in the nation’s cybersecurity
  • FTC, State of Colorado confirm action against Greystar, nation’s largest multi-family rental property manager, for deceiving consumers about rent prices
  • Alphabet (GOOG) will not add fact checks to posts despite new law in Europe, according to Axios
  • Alphabet (GOOG): The Associated Press will now deliver a feed of real-time information to help further enhance the usefulness of results displayed in the Gemini app
  • Altria (MO): FDA authorizes marketing of 20 ZYN nicotine pouch products after extensive scientific review
  • Amazon (AMZN) plans to make cuts in its Fashion and Fitness biz; layoffs to impact about 200 jobs, according to Business Insider
  • AMC Entertainment (AMC) introduced an all new 'achievable' rewards tier to its AMC Stubs program
  • American Express (AXP): DoJ announces AmEx agreed to pay $108.7m to settle allegations of deceptive marketing and “dummy” account information
  • American Electric (AEP) secures $1.6 billion DOE loan commitment for major transmission upgrades across five states
  • American Express (AXP) confirms agreement with the U.S. Department of Justice; will pay approximately $230 million in total to resolve these matters
  • Anheuser-Busch InBev (BUD): Belgian Competition Authority opens proceedings against AB InBev in relation to certain commercial practices on the Belgian market
  • Apple (AAPL) in discussions with Barclays (BCS) and Synchrony Financial (SYF) to replace Goldman Sachs (GS) credit card partnership, according to Reuters
  • Apple (AAPL) is no longer largest smartphone seller in China, according to Reuters
  • BigBear.ai (BBAI) appoints Kevin McAleenan as CEO, effective today; succeeds Mandy Long, who is stepping down
  • Bitdeer Technologies (BTDR) launches new feature "ReMine" that offers a transparent transfer market for Bitdeer mining machine buyers and sellers
  • Black Hills Corp (BKH) announces that its Wyoming electric utility has successfully placed in service the initial 12-mile segment and supporting substations of its Ready Wyoming transmission expansion project near Cheyenne, Wyoming
  • Blaize Holdings (BZAI) partners with alwaysAI to revolutionize real-time insights with AI edge computing and advanced computer vision applications
  • Block (SQ) to pay $80 mln for insufficient money laundering controls, according to Reuters
  • Block (SQ): CFPB orders operator of Cash App to pay $175 million and fix its failures on fraud
  • Borr Drilling (BORR) received a notice of temporary suspension of operation for its rigs “Galar", "Gersemi" and "Grid”, operating in Mexico
  • BP (BP) CEO Murray Auchincloss says company will cut 7700 positions, according to Bloomberg
  • Comcast (CMCSA) has added sports betting odds from FanDuel into Xfinity Odds Zone on Xfinity X1, giving customers more ways to view live odds, game lines and prop bets for major sporting events without having to take their eyes off their TV
  • Compass Diversified (CODI) announces amendment of its management services agreement
  • Core Natural Resources (CNR) taking steps to temporarily seal the Leer South mine's active longwall panel in order to extinguish isolated combustion-related activity
  • Cosan (CSAN) discloses 173,073,795 shares issued by Vale (VALE) and owned by the Company were sold, representing approximately 4.05% of Vale's voting capital
  • DouYu (DOYU) appoints Co-CEO; approves special cash dividend
  • Duolingo (DUOL) noted an over 200% jump in U.S. users learning Chinese due to pending TikTok ban and shift to RedNote, according to TechCrunch
  • DuPont (DD) provides separation plan update; reiterates Q4 guidance
  • Eli Lilly (LLY): FDA approves Lilly's Omvoh(mirikizumab-mrkz) for Crohn's disease, expanding its use to the second major type of inflammatory bowel disease
  • Embraer SA (ERJ) delivered 75 aircraft in 4Q24 – or 27% higher than in the previous quarter (3Q24), when 59 aircraft were delivered, and equal to the volume of the same period of 2023
  • enCore Energy Corp. (EU) files new S-K 1300 Technical Report Summary for its Dewey-Burdock Project located in South Dakota with the SEC; Filing discloses updated mineral resource and preliminary economic assessment for its pipeline In-Situ Recovery uranium project
  • Eni S.p.A. (E): Plenitude signs agreement with EDP Renewables (EDRVF) to acquire two photovoltaic plants and a storage facility in the United States for a capacity of 245 MWdc
  • Flutter Entertainment's (FLUT) FanDuel announces the availability of FanDuel Sportsbook within Puerto Rico and the opening of a new retail sportsbook in partnership with CAGE Puerto Rico II at #53 Edificio El Caribe, Calle Palmeras in San Juan
  • Gilead Sciences (GILD): Seladelpar approved in UK to treat adult patients in the UK with liver illness
  • Glencore Intl plc (GLNCY) follow up to report that company is discussing merger with Rio Tinto (RIO)
  • Graham (GHC) increases quarterly dividend to $1.80/share from $1.72/share
  • Helmerich & Paynehas (HP) completed its acquisition of KCA Deutag International Limited
  • IBM (IBM) to acquire Applications Software Technology, a global Oracle consultancy
  • ImmunityBio (IBRX) provides regulatory update on global submission for ANKTIVA + BCG in BCG unresponsive non-muscle invasive bladder cancer with carcinoma in situ in europe and United Kingdom; also provides regulatory update on anticipated FDA Submissions in 2025 following meeting with the agency
  • Ingevity (NGVT) announces plans to explore strategic alternatives for Performance Chemicals Industrial Specialties product line and North Charleston CTO refinery; releases preliminary 2024 financial results
  • Johnson & Johnson (JNJ): RYBREVANT plus chemotherapy approved in Canada as first and only targeted treatment to reduce risk of disease progression or death by more than half in second-line EGFR-mutated advanced lung cancer
  • LiveOne (LVO) provides a business and financial update
  • Microsoft (MSFT): President-elect Trump met with Microsoft CEO Satya Nadella and discussed artificial intelligence and cyber security, according to Bloomberg
  • Microsoft (MSFT) says Copilot is now included in Microsoft 365 Personal and Family; increases prices of Microsoft 365 Personal and Family in the US for the first time since its release by $3 per month
  • Nexa Resources (NEXA) announced the adoption of a new dividend policy effective January 1, 2025
  • Omeros (OMER) announces statistical sensitivity analysis results related to the primary endpoint analysis for narsoplimab, Omeros’ first-in-class monoclonal antibody inhibiting the lectin pathway of complement, in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy
  • Panasonic Industrial IOT Solutions Group (PCRHY) has moved to a new facility that includes an extensive production line testing area, allowing Panasonic to design, engineer, and test solution enhancements for manufacturers without disrupting current production lines
  • Philip Morris International (PM): FDA authorizes All ZYN nicotine pouch products currently marketed by Swedish Match in the U.S.
  • PPL Corp (PPL) Louisville Gas and Electric Company subsidiary announces its first hyperscale data center electric customer; partnership with Poe Companies and PowerHouse Data Centers sets stage for Kentucky's first hyperscale data center campus
  • Prudential (PRU) assets under management of the PGIM segment were $1.38 trillion as of December 31, 2024; revised Q3 supplement
  • Rocket Lab’s (RKLB) Second Reentry Class Spacecraft for Varda Operating on Orbit Supporting Payloads for Air Force Research Lab and NASA
  • RTX (RTX) awarded a $529 million contract to supply the Netherlands with a Patriot air and missile defense system fire unit and related equipment
  • Spirit Airlines (SAVEQ) to eliminate 200 jobs in effort to reduce costs, according to CNBC
  • Skeena Resources (SKE) reported drill results from the 2024 exploratory drilling program at the KSP Property in the Golden Triangle of British Columbia
  • Snap (SNAP): FTC referred to the Department of Justice a complaint against SNAP
  • Southwest Air (LUV): DOT confirms suit against Southwest Airlines for chronically delayed flights
  • SSR Mining (SSRM) provides update on the February 13, 2024 incident at Çöpler; Says independent review from international mining consulting firm found that most likely cause of incident was a "deeply-rooted flaw in the third-party engineered design of the heap leach pad"
  • Synchrony Financial (SYF) is enhancing the way consumers securely shop online and in-app when checking out with Apple Pay on iPhone and iPad
  • Syndax Pharmaceuticals (SNDX) and Incyte (INCY) receive FDA approval of Niktimvo 9 mg and 22 mg vial sizes
  • Talos Energy (TALO): Katmai West #2 well located in the Ewing Bank area of the U.S Gulf of Mexico successfully encountered commercial quantities of oil and natural gas
  • Tencent (TCEHY): US adds TCEHY supported Beijing Zhipu Huazhang Technology Co to end-user review committee list of entities
  • Tesla (TSLA) offering Cybertruck discounts, according to CNBC
  • Toyota Motor (TM) unit Hino Motors agrees to plead guilty and pay over $1.6 bln to resolve emissions fraud scheme
  • TXO Partners (TXO) Announces 3 TCFE of Natural Gas Potential in the Mancos Shale of the San Juan Basin
  • UCB (UCBJY) Announces U.S. Availability of 320 mg/2 mL Single-Injection Administration Option for BIMZELX (bimekizumab-bkzx)
  • Volkswagen (VWAGY): China buyers interested in Volkswagen factories, according to Reuters
  • Warner Bros. Discovery (WBD): NFL and Bleacher Report ink multi-year content partnership
  • WEC Energy Group (WEC) executes earlier planned dividend raise
  • Westamerica Bancorporation (WABC) reports fourth quarter 2024 financial results

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

• Upgrades:
  • Ametek (AME) upgraded to Outperform from Neutral at Exane BNP Paribas; tgt $210
  • Bill.com (BILL) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $95
  • BlackLine (BL) upgraded to Buy from Neutral at Citigroup; tgt $73
  • Blue Owl Capital (OWL) upgraded to Buy from Hold at TD Cowen; tgt $28
  • CACI Intl (CACI) upgraded to Buy from Hold at Jefferies; tgt $515
  • Canadian Nat'l Rail (CNI) upgraded to Buy from Hold at Stifel; tgt lowered to $120
  • Dana Inc (DAN) upgraded to Buy from Neutral at UBS; tgt raised to $18
  • Dexcom (DXCM) upgraded to Outperform from Neutral at Robert W. Baird; tgt raised to $104
  • DigitalOcean (DOCN) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $41
  • First Solar (FSLR) upgraded to Buy from Neutral at Seaport Research Partners; tgt $274
  • Freshworks (FRSH) upgraded to Outperform from Perform at Oppenheimer; tgt $22
  • Ingram Micro Holding Corp. (INGM) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $27
  • Monday.com (MNDY) upgraded to Buy from Neutral at Citigroup; tgt lowered to $298
  • Netflix (NFLX) upgraded to Buy from Neutral at Seaport Research Partners; tgt $955
  • OneStream (OS) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $37
  • Paylocity (PCTY) upgraded to Buy from Neutral at Citigroup; tgt raised to $231
  • Rockwell Automation (ROK) upgraded to Overweight from Equal-Weight at Stephens; tgt raised to $350
  • UPS (UPS) upgraded to Buy from Neutral at BofA Securities; tgt $150
  • Zegna Group (ZGN) upgraded to Buy from Neutral at BofA Securities
• Downgrades:
  • Advanced Micro Devices (AMD) downgraded to Peer Perform from Outperform at Wolfe Research
  • Ardagh Metal Packaging S.A. (AMBP) downgraded to Equal Weight from Overweight at Wells Fargo; tgt $3.35
  • Ball Corp (BALL) downgraded to Underweight from Equal Weight at Wells Fargo; tgt lowered to $49
  • Confluent (CFLT) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $30
  • Datadog (DDOG) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $143
  • Edwards Lifesciences (EW) downgraded to Underperform from Peer Perform at Wolfe Research; tgt $60
  • Enphase Energy (ENPH) downgraded to Hold from Buy at Truist; tgt lowered to $65
  • Intapp (INTA) downgraded to Neutral from Buy at Citigroup; tgt lowered to $78
  • Nokia (NOK) downgraded to Sell from Neutral at Goldman; tgt $3.60
  • PagSeguro Digital (PAGS) downgraded to Neutral from Buy at Citigroup; tgt lowered to $7
  • Piedmont Office Realty Trust (PDM) downgraded to Neutral from Outperform at Robert W. Baird; tgt $11
  • PROS Holdings (PRO) downgraded to Perform from Outperform at Oppenheimer
  • Regeneron Pharma (REGN) downgraded to Neutral from Buy at UBS; tgt lowered to $738
  • Southwest Air (LUV) downgraded to Sell from Neutral at Citigroup; tgt lowered to $29.50
  • StoneCo (STNE) downgraded to Neutral from Buy at Citigroup
• Others:
  • AAR Corp (AIR) initiated with an Overweight at KeyBanc Capital Markets; tgt $83
  • Altria (MO) initiated with an Equal-Weight at Morgan Stanley; tgt $54
  • Commvault Systems (CVLT) initiated with an Overweight at KeyBanc Capital Markets; tgt $192
  • Expand Energy Corporation (EXE) initiated with an Overweight at JP Morgan; tgt $112
  • Genuine Parts (GPC) initiated with a Buy at Loop Capital; tgt $155
  • HEICO (HEI) initiated with a Sector Weight at KeyBanc Capital Markets
  • Interparfums (IPAR) initiated with a Buy at Canaccord Genuity; tgt $158
  • Mobileye Global (MBLY) initiated with an Outperform at Oppenheimer; tgt $28
  • MSC Industrial (MSM) initiated with an Outperform at Wolfe Research; tgt $95
  • Peakstone Realty Trust (PKST) initiated with a Buy at UBS; tgt $15
  • Philip Morris International (PM) initiated with an Overweight at Morgan Stanley; tgt $140
  • ResMed (RMD) initiated with a Buy at Goldman
  • Sally Beauty (SBH) initiated with a Buy at Canaccord Genuity; tgt $14
  • Sony (SONY) initiated with an Outperform at Bernstein
  • Strawberry Fields REIT (STRW) initiated with a Buy at Compass Point; tgt $14
  • Symbotic (SYM) initiated with a Outperform at Oppenheimer; tgt $35
  • TELUS Digital (TIXT) initiated with a Buy at Stifel; tgt $5

• Econ Data (Friday):
  • 8:30 ET: December Housing Starts (Briefing.com consensus 1.318 mln; prior 1.289 mln), Building Permits (Briefing.com consensus 1.454 mln; prior 1.505 mln)
  • 9:15 ET: December Industrial Production (Briefing.com consensus 0.3%; prior -0.1%) and Capacity Utilization (Briefing.com consensus 77.0%; prior 76.8%)
  • 16:00 ET: November Long-Term TIC Flows (prior $152.3 bln)
• Earnings:
  • Monday (Jan 13)
    • Pre-Market: None
    • After-Hours: KBH
  • Tuesday (Jan 14)
    • Pre-Market: None
    • After-Hours: APLD CVGW
  • Wednesday (Jan 15)
    • Pre-Market: BLK BK C GS JPM WFC
      
    • After-Hours: CNXC FUL HOMB SNV
  • Thursday (Jan 16)
    • Pre-Market: BAC FHN IIIN MTB MS PNC USB UNH TSM
    • After-Hours: OZK JBHT
  • Friday (Jan 17)
    • Pre-Market: CFG FAST HBAN RF SLB STT TFC WBS
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike