After Hours Report

The stock market closed on a positive note after a sharp dip and quick recovery in the afternoon trade after President Trump told reporters that he will impose 25% tariffs on Canada and Mexico beginning Saturday due to immigration, trade deficits, and fentanyl, according to Bloomberg.

The S&P 500 logged a 0.5% gain, the Nasdaq Composite closed 0.3% higher, and the Dow Jones Industrial Average registered a 0.4% gain while the Russell 2000 outperformed, jumping 1.1%.  

A solid earnings-related decline in Microsoft (MSFT 414.99, -27.34, -6.2%) was overshadowed by positive responses to earnings results from the likes of IBM (IBM 258.27, +29.64, +13.0%), Meta Platforms (META 687.00, +10.51, +1.6%), and Tesla (TSLA 400.28, +11.18, +2.9%).

The upside bias in equities was also supported by the price action in Treasuries. 10-yr yield settled four basis points lower at 4.52% and the 2-yr yield settled three basis points lower at 4.20%.

Broad buying interest led the equal-weighted S&P 500 to close 1.1% higher and ten of the S&P 500 sectors to close in the green. The lone holdout in the red was information technology while the rate-sensitive utilities (+2.1%) and real estate (+1.4%) sectors rose to the top of the leaderboard.

Market participants were also digesting this morning's economic releases, which featured an encouragingly low level of initial jobless claims (207,000) for the week ending January 25 and a refreshingly strong 4.2% growth rate for personal spending in the fourth quarter, which was the best since Q1 2023.

The market will be focused on earnings news from influential names this afternoon followed by tomorrow's release of the December Personal Income and Spending report, which includes the Fed's preferred gauge on inflation (PCE Price Indexes) at 8:30 ET. 

• Dow Jones Industrial Average: +5.5.% YTD
• S&P Midcap 400: +4.7% YTD
• Russell 2000: +3.5% YTD
• S&P 500: +3.2% YTD
• Nasdaq Composite: +1.9% YTD

Reviewing today's economic data: 

• Q4 GDP-Adv. 2.3% (Briefing.com consensus 2.3%); Prior 3.1%, Q4 GDP Deflator-Adv. 2.2% (Briefing.com consensus 2.4%); Prior 1.9%
  • The key takeaway from the report is that there were stronger growth attributes in the fourth quarter than the headline number suggests. To that end, personal consumption expenditures were up 4.2% -- the strongest since Q1 2023 -- and real final sales of domestic product, which excludes the change in private inventories, was up 3.2%.
• Weekly Initial Claims 207K (Briefing.com consensus 221K); Prior 223K, Weekly Continuing Claims 1.858 mln; Prior was revised to 1.900 mln from 1.899 mln
  
  • The key takeaway from the report is the low level of initial jobless claims -- a leading indicator -- which is a good signal for growth prospects, as it conveys a reluctance on the part of employers to let employees go.
• December Pending Home Sales -5.5% (Briefing.com consensus 0.8%); Prior was revised to 1.6% from 2.2%

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

• 08:30 ET: December Personal Income (Briefing.com consensus 0.4%; prior 0.3%), December Personal Spending (Briefing.com consensus 0.5%; prior 0.4%), December PCE Price Index (Briefing.com consensus 0.3%; prior 0.1%), December Core-PCE Price Index (Briefing.com consensus 0.2%; prior 0.1%), Q4 Employment Cost Index (Briefing.com consensus 0.9%; prior 0.8%)
• 09:45 ET: January Chicago PMI (Briefing.com consensus 41.5; prior 36.9)

Overseas:

• Europe: DAX +0.4%, FTSE +1.0%, CAC +0.9%
• Asia: Nikkei +0.0%, Hang Seng market closed, Shanghai market closed

Commodities:

• Crude Oil +0.10 @ 72.74
• Nat Gas -0.11 @ 3.05
• Gold +74.90 @ 2844.60
• Silver +1.06 @ 32.47
• Copper +0.03 @ 4.31

After-Hours Spotlight:

• Apple (AAPL) beats by $0.05, reports revs in-line; iPhones miss; services and wearables roughly in line; China revs decline... AAPL down 0.3%
• Atlassian (TEAM) beats by $0.21, beats on revs; guides MarQ revs above consensus; guides FY25 revs above consensus... TEAM up 15.9%
• Beazer Homes (BZH) misses by $0.21, beats on revs... BZH down 8.2%
• Deckers Outdoor (DECK) beats by $0.42, beats on revs; guides FY25 EPS above consensus, revs in-line... DECK down 15.8%
• Intel (INTC) beats by $0.01, beats on revs, DCAI segment revenue down 9%; guides Q1 EPS below consensus, revs below consensus... INTC up 1.3%
• KLA Corporation (KLAC) beats by $0.45, beats on revs; mid-point of MarQ EPS and revs guidance above consensus... KLAC up 3.9%
• SkyWest (SKYW) beats by $0.55, beats on revs... SKYW up 1.9%
• Visa (V) beats by $0.09, beats on revs; provides Q2 and FY25 guidance... V up 1.2%

Fair Value for Friday, January 31:

• S&P 500: 6,046
• Nasdaq 100: 21,622
• DJIA: 45,046

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

• Earnings/Guidance (Full Earnings Calendar):
  • 1-800-FLOWERS (FLWS) misses by $0.12, misses on revs; Issues downside FY25 revenue guidance
  • Allegro Microsystems (ALGM) beats by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs in-line
  • Altria (MO) beats by $0.01, beats on revs; guides FY25 EPS in-line; announces buyback
  • Ameriprise Financial (AMP) beats by $0.49, reports revs in-line
  • A.O. Smith (AOS) misses by $0.04, misses on revs; guides FY25 EPS below consensus, revs below consensus
  • Avery Dennison (AVY) reports EPS in-line, revs in-line; guides FY25 EPS below consensus
  • AXIS Capital (AXS) beats by $0.81
  • Benchmark Electronics (BHE) beats by $0.05, reports revs in-line; guides Q1 EPS in-line, revs in-line
  • Berkshire Hills Bancorp (BHLB) beats by $0.05
  • Blackstone (BX) beats by $0.22
  • Bread Financial (BFH) beats by $0.07, provides 2025 outlook
  • Brunswick (BC) beats by $0.07, beats on revs; guides Q1 EPS in-line; guides FY25 EPS in-line, revs in-line
  • Calix Networks (CALX) beats by $0.01, beats on revs; guides Q1 EPS in-line, revs in-line
  • Canadian Pacific Kansas City Ltd. (CP) beats by CC$0.05, reports revs in-line; guides FY25 EPS in-line
  • Cardinal Health (CAH) beats by $0.16, reports revs in-line; raises FY25 EPS mostly above consensus
  • Carpenter Tech (CRS) beats by $0.05, misses on revs
  • Caterpillar (CAT) beats by $0.12, misses on revs
  • Celestica (CLS) beats by $0.06, reports revs in-line; guides Q1 EPS above consensus, revs above consensus; raises FY25 guidance
  • Century Communities (CCS) beats by $0.31, misses on revs; guides FY25 revs below consensus
  • Check Point Software (CHKP) beats by $0.04, reports revs in-line
  • Check Point Software (CHKP) provides Q1 and FY25 guidance on conference call
  • C.H. Robinson (CHRW) beats by $0.10, misses on revs
  • CNX Resources (CNX) reports Q4 (Dec) results, misses on revs
  • Comcast (CMCSA) beats by $0.10, reports revs in-line; increases quarterly cash dividend to $0.33/share from $0.31/share and increases share repurchase authorization to $15 billion
  • Core Labs (CLB) reports EPS in-line, misses on revs; guides Q1 EPS below consensus, revs below consensus
  • Coursera (COUR) beats by $0.04, beats on revs; guides Q1 revs below consensus
  • Cullen/Frost (CFR) beats by $0.20
  • Deutsche Bank (DB) reports Q4 results; beats on revs
  • Dolby Labs (DLB) beats by $0.09, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY25 EPS in-line, revs in-line
  • Dover (DOV) beats by $0.12, misses on revs; guides FY25 EPS in-line, revs below consensus
  • Dow (DOW) misses by $0.24, misses on revs
  • Dynatrace (DT) beats by $0.04, beats on revs; guides Q4 EPS in-line, revs above consensus
  • Ethan Allen (ETD) misses by $0.02 (two estimates), misses on revs
  • First Merchants (FRME) beats by $0.20
  • FirstCash (FCFS) beats by $0.11, misses on revs
  • Glencore Intl plc (GLNCY) reports FY24 production
  • Heritage Insurance (HRTG) expects to incur approximately $35.0 - $40.0 million of pre-tax net current accident quarter catastrophe losses stemming from the Southern California wildfires in the first quarter of 2025
  • IBM (IBM) beats by $0.14, reports revs in-line; provides guidance on earnings call; expects Q1 CC yr/yr revenue growth to be similar to Q4's +2% CC
  • Int'l Paper (IP) beats by $0.05, misses on revs
  • Ironwood Pharma (IRWD) sees FY25 revs below consensus
  • Kirby (KEX) beats by $0.01, reports revs in-line
  • Tesla (TSLA) misses by $0.04, misses on revs; plans for new vehicles remain on track for start of production in 1H25; Cybercab scheduled for volume production in 2026
  • L3Harris (LHX) beats by $0.05, reports revs in-line; guides FY25 revs in-line
  • Lam Research (LRCX) beats by $0.03, beats on revs; guides Q3 EPS above consensus, revs above consensus
  • Landstar System (LSTR) misses by $0.03, reports revs in-line
  • Las Vegas Sands (LVS) misses by $0.04, beats on revs
  • Lazard (LAZ) beats by $0.27, beats on revs
  • Levi Strauss (LEVI) beats by $0.02, beats on revs; guides FY25 EPS below consensus, revs below consensus
  • Liberty Energy (LBRT) misses by $0.01, misses on revs
  • Malibu Boats (MBUU) beats by $0.13, beats on revs
  • Manpower (MAN) beats by $0.04, reports revs in-line; guides Q1 EPS below consensus
  • Mastercard (MA) beats by $0.13, beats on revs
  • MaxLinear (MXL) beats by $0.04, beats on revs; guides Q1 revs in-line
  • Meritage (MTH) beats by $2.48, beats on revs; guides FY25 revs in-line
  • Meta Platforms (META) beats by $1.26, beats on revs; guides Q1 revs in-line, reiterates FY25 capex guidance
  • Methanex (MEOH) beats by $0.14, misses on revs
  • Microsoft (MSFT) beats by $0.12, beats on revs; Azure +31% CC vs +31-32% CC prior guidance; IC segment revs a bit light of guidance; Guidance for Q3 (Mar) calculates to $67.70-68.70 bln vs. $69.81 bln FactSet consensus.
  • Mobileye Global (MBLY) beats by $0.02, beats on revs; guides FY25 revs below consensus
  • Murphy Oil (MUR) misses by $0.23, misses on revs; Issues 2025 Capex and Production Guidance
  • National Fuel Gas (NFG) beats by $0.13, misses on revs; guides FY25 EPS above consensus
  • NetScout Systems (NTCT) beats by $0.23 (two estimates), beats on revs; guides FY26 EPS in-line, revs below two analyst estimate
  • Nokia (NOK) beats by €0.05, beats on revs; provides FY25 outlook; FY26 targets
  • Northrop Grumman (NOC) beats by $0.04, misses on revs; guides FY25 EPS in-line, revs below consensus
  • Oshkosh (OSK) beats by $0.41, beats on revs; guides FY25 EPS above consensus, revs above consensus; increases dividend 11%
  • Parker-Hannifin (PH) beats by $0.29, misses on revs; guides FY25 EPS in-line, revs below consensus
  • PulteGroup (PHM) beats by $1.17, beats on revs; Board approves $1.5 bln increase to share buyback program
  • Quest Diagnostics (DGX) beats by $0.05, beats on revs; guides FY25 EPS in-line, revs mostly above consensus; ups dividend by 6.7%
  • Raymond James (RJF) beats by $0.25, beats on revs
  • Robert Half (RHI) misses by $0.02, reports revs in-line
  • Roche Hldg (RHHBY) reports FY24 results; provides outlook for FY25; proposes dividend raise
  • Rogers Comms (RCI) beats by C$0.09, beats on revs
  • Roper (ROP) beats by $0.08, beats on revs; guides Q1 EPS below consensus; guides FY25 EPS in-line
  • Sanofi (SNY) beats by €0.63, misses on revs
  • ScanSource (SCSC) misses by $0.06, misses on revs; reaffirms FY25 revs guidance
  • Schneider National (SNDR) reports EPS in-line, revs in-line; guides FY25 EPS in-line
  • SEI Investments (SEIC) misses by $0.01, reports revs in-line
  • Selective Insurance (SIGI) misses by $0.37, beats on revs
  • ServiceNow (NOW) beats by $0.02, reports revs in-line; guides Q1 revs below consensus; guides FY25 revs below consensus; announces buyback
  • Shell plc (SHEL) misses by $0.07; beats on revs; raises dividend; announces $3.5 bln buyback
  • Sherwin-Williams (SHW) beats by $0.03, reports revs in-line; guides FY25 EPS below consensus
  • Sirius XM (SIRI) beats by $0.17, reports revs in-line; reaffirms FY25 revs guidance
  • Southwest Air (LUV) beats by $0.10, reports revs in-line
  • STMicroelectronics (STM) beats by $0.02, reports revs in-line; guides Q1 revs below consensus
  • SunCoke Energy (SXC) beats by $0.04, beats on revs
  • Takeda Pharma (TAK) reports nine-month results; raises guidance; announces share buyback of up to JPY 100.0 billion; provides CEO update
  • Teradyne (TER) beats by $0.04, beats on revs; guides Q1 EPS in-line, revs in-line
  • Tetra Tech (TTEK) beats by $0.02, beats on revs; guides Q2 EPS in-line, revs below consensus; guides FY25 EPS in-line, revs in-line
  • The Cigna Group (CI) misses by $1.18, beats on revs; guides FY25 EPS below consensus, revs in-line; Declares an 8% increase in quarterly dividend and approves an increase of $6.0 bln in incremental share repurchase authorization
  • Tractor Supply (TSCO) misses by $0.01, reports revs in-line, comps +0.6%; guides FY25 EPS in-line, revs above consensus
  • United Rentals (URI) misses by $0.09, beats on revs; guides FY25 revs in-line; has paused its share repurchases due to its pending acquisition of H&E
  • UPS (UPS) beats by $0.22, reports revs in-line; guides FY25 revs below consensus
  • Valero Energy (VLO) beats by $0.57, beats on revs
  • Voya Financial (VOYA) AUM of the IM segment was $339 billion as of Dec 31, 2024
  • Waste Mgmt (WM) misses by $0.10, reports revs in-line; guides FY25 revs in-line
  • Western Digital (WDC) misses by $0.01, reports revs in-line; guides Q3 EPS below consensus, revs below consensus
  • Whirlpool (WHR) beats by $0.26, misses on revs; guides FY25 EPS below consensus, revs below consensus
  • Wolfspeed (WOLF) beats by $0.07, reports revs in-line; guides Q3 EPS in-line, revs in-line
• General News
  • President Trump criticized Fed for creating the inflation problem and said the Fed has done a "terrible job" with bank regulation
  • White House mulling new ways for President Trump to control federal spending, according to Bloomberg
  • President Trump will order construction of facility at Guantanamo Bay to hold migrants, according to the Wall Street Journal
  • TikTok US bidders could offer more than $20 bln for the company, according to Bloomberg
  • Nevada Gaming Board reports December gaming win +2.0% yr/yr to $1.461 bln; -2.6% yr/yr to $881.3 mln on the Las Vegas Strip
  • 8x8 (EGHT) drives customer and employee experience with latest platform innovations
  • Amazon (AMZN) increases advertising on X platform, according to WSJ
  • American Airlines (AAL): FAA says American Airlines Flight 5342 collided in midair with a Sikorsky (LMT) H-60 helicopter; reports indicate the at least 12 bodies have been recovered from the river
  • American Airlines (AAL): FAA staffing was "not normal" at airport tower prior to crash, according to NY Times
  • American Vanguard (AVD) announces that its crop business unit, AMVAC, entered into a regional distribution agreement with DPH Biologicals, a leading developer and supplier of agricultural biological
  • Amgen (AMGN): European Commission has approved BLINCYTO monotherapy as part of consolidation therapy
  • Ares Management (ARES): ID.me has closed a $275 mln credit facility provided by Ares Management funds
  • ASGN Incorporated (ASGN) announces that ASGN President Rand Blazer will transition to the role of Executive Vice Chairman on March 1, 2025
  • Baker Hughes (BKR) awarded an order by Tecnicas Reunidas for six gas compression trains and six propane compressors, for the third expansion phase of Aramco’s Jafurah gas field, located in the Kingdom of Saudi Arabia
  • Baker Hughes (BKR) increases quarterly dividend to $0.23/share from $0.21/share
  • Ball Corp (BALL) approves $4 billion share repurchase program
  • Brunswick Corporation (BC) reports record sales and market share increases at 2025 early-season global trade shows
  • Canadian Natrl Res (CNQ) announces swap transaction
  • CARGO Therapeutics (CRGX) has elected to discontinue FIRCE-1, a Phase 2 clinical study of firi-cel for patients with large B-cell lymphoma whose disease relapsed or was refractory to CD19 CAR T-cell therapy
  • CenterPoint Energy (CNP) reaches settlement agreement with parties to lower bills for customers in its 2024 Houston Electric Rate Case
  • CMS Energy (CMS) and Hecate Energy announce that initial site work by Bechtel has begun on the 360-megawatt Sunfish Solar 2 project, progressing with a target completion date of Q2 2026
  • Cognizant Tech (CTSH) announces an expanded agreement with Medidata, a Dassault Systèmes brand and leader of clinical trial solutions to the life sciences industry, to provide support for Medidata's life sciences clients and expand the strategic alliance partnership
  • Costco (COST) aiming to increase hourly pay for most store workers to $30/hour, according to Bloomberg
  • Coursera (COUR) appoints Greg Hart as CEO effective February 3, Jeff Maggioncalda to retire as CEO
  • Cullen/Frost (CFR) also authorizes $150 million stock repurchase program
  • Despegar.com (DESP) announces a strategic partnership with HBX Group, a leading independent B2B travel technology marketplace
  • Dow (DOW) announces targeted actions to deliver $1 bln in cost savings
  • Equinor (EQNR): Scotland court blocks oil and gas production at two sites related to Equinor and Shell (SHEL), according to the New York Times
  • FTAI Infrastructure (FIP): Long Ridge Energy to commence a private offering of $500 million aggregate principal amount of senior secured notes due 2032
  • Guardant Health's (GH) Shield Test selected by Abu Dhabi Department of Health for blood-based colorectal cancer screening program
  • Halliburton (HAL) announces a contract award from Petrobras (PBR) for integrated drilling services across several offshore fields in Brazil, the result of a competitive process
  • Hewlett Packard Enterprise (HPE) and Juniper Networks (JNPR) strongly oppose Department of Justice’s decision to file suit to block acquisition
  • IBM (IBM) and Telefónica Tech announce a collaboration agreement to develop and deliver security solutions that address security challenges posed by future cryptographically relevant quantum computers
  • iHeartMedia (IHRT) and BBC Studios announce a multi-year deal that will make iHeartMedia the exclusive third-party advertising reseller of BBC podcasts to the U.S. market
  • Inhibikase Therapeutics (IKT) reported results from the Phase 2 201 trial evaluating risvodetinib, a selective inhibitor of the non-receptor Abelson Tyrosine Kinases, in untreated Parkinson’s disease
  • Innovative Industrial Properties (IIPR) has reached an agreement with PharmaCann Inc. and its affiliates to resolve PharmaCann’s existing defaults under leases for eleven properties that the Company owns, previously announced by IIP on December 20, 2024
  • Ironwood Pharma (IRWD) initiates Apraglutide NDA submission, highlights compelling new data and updates corporate structure to position for the future
  • Jacobs Solutions (J) increases quarterly cash dividend 10% to $0.32/share from $0.29/share
  • Jefferies (JEF) may be facing $250 mln lawsuit with George Weiss, according to Bloomberg
  • Juniper Networks (JNPR) Follow up: DOJ will file lawsuit to block JNPR merger with Hewlett Packard Enterprise (HPE)
  • Kazia Therapeutics (KZIA) announces the regulatory approval and launch of a clinical trial evaluating the combination of paxalisib and immunotherapy in patients with advanced breast cancer
  • KBR (KBR) has been awarded a contract by Weardale Lithium Limited for one of Europe's most advanced demonstration facilities for lithium brine extraction in Eastgate, County Durham, United Kingdom
  • Keysight (KEYS) and the University of Malaga have opened a 6G research and innovation Lab
  • Lam Research (LRCX) has been selected by a leading memory manufacturer as production tool of record for the most advanced DRAM processes
  • Merck (MRK) announces the Phase 3 HYPERION study evaluating WINREVAIR versus placebo in recently diagnosed adults with pulmonary arterial hypertension functional class II or III at intermediate or high risk of disease progression will be stopped early
  • Meta Platforms (META) to pay $25 mln settlement over 2021 lawsuit, according to the Wall Street Journal
  • Methanex (MEOH) also said "We have been advised by our legal counsel that earlier today OCI Global received a favorable decision from the Delaware Court of Chancery in its dispute with its joint venture partner with respect to the Natgasoline asset (subject to any potential further proceedings or appeal)."
  • Microsoft (MSFT): OpenAI in discussions with investment from Softbank (SFTBY) that could value the company at $340 bln, according to WSJ
  • MicroStrategy (MSTR) announces the latest release of MicroStrategy ONE, which helps enterprises gain rapid value from generative AI (GenAI) by personalizing the AI experience for each user
  • MindMed (MNMD) announces that the first patient has been dosed in Panorama, its second Phase 3 study evaluating MM120 ODT, a proprietary, pharmaceutically optimized form of LSD for the treatment generalized anxiety disorder
  • Moderna (MRNA): HHS nominee RFK Jr. at Senate hearing says he will support development of vaccines for avian flu
  • Molson Coors Brewing (TAP) announces strategic partnership with Fever-Tree in U.S.
  • Moog (MOG.A) selected by Lockheed Martin (LMT) in a contract valued at over $100 mln to provide custom actuators for the Patriot Advanced Capability – 3 (PAC-3) Missile Segment Enhancement contract with the U.S. Army
  • Nissan (NSANY) offering some employees buyouts, according to Reuters
  • ONEOK (OKE) and EnLink Midstream (ENLC) announce that EnLink unitholders approved ONEOK's previously announced acquisition of the remaining publicly held common units of EnLink
  • Perma-Fix Enviro (PESI) Board approved the appointment of Mr. Troy Eshleman as the Company’s Chief Operating Officer on Jan 23
  • Petrobras (PBR) provides data on proved reserves in 2024
  • PulteGroup (PHM) has approved a $1.5 bln increase to the Company’s share repurchase authorization
  • Revance Therapeutics (RVNC): Teoxane SA withdraws proposal; concluded that committed financing is not available within the constraints of the existing timeline of the revised tender offer
  • ServiceNow (NOW) and SoftwareOne announce strategic partnership to transform IT modernization in the Cloud
  • ServiceNow (NOW) expands Workflow Data Fabric capabilities with new Oracle Autonomous Database, Oracle Database 23ai integration
  • ServiceNow (NOW) expands strategic alliance with Visa (V)
  • ServiceNow (NOW) unveils new agentic AI innovations to autonomously solve the most complex enterprise challenges
  • Smurfit Westrock plc (SW) increases quarterly dividend to $0.4308/share from $0.3025/share
  • SoftBank (SFTBY) in discussions to invest $15-25 bln in OpenAI, according to the Wall Street Journal
  • Stagwell (STGW) launches STAGE AI, the latest evolution of its proprietary operating system, STAGE
  • Standard Lithium (SLI) and Equinor (EQNR) announce Smackover Lithium as the new name for their joint venture developing direct lithium extraction projects in Southwest Arkansas and East Texas
  • Starbucks (SBUX) agrees to mediation with unions amid ongoing talks, according to Bloomberg
  • Stellantis (STLA) believes shift away from electric vehicles could help US operations, according to Financial Times
  • Tectonic Therapeutic (TECX) announces "positive" interim data from the Phase 1b acute hemodynamic clinical trial of its lead product candidate, TX45, a long-acting, Fc-relaxin fusion protein
  • Thermo Fisher (TMO) beats by $0.16, beats on revs
  • Trane (TT) beats by $0.07, beats on revs; guides FY25 EPS mostly above consensus, revs in-line
  • Trinity Biotech (TRIB) provided an update as to the potential impact of U.S. President’s Executive Order on Reevaluating and Realigning United States Foreign Aid on the Company’s sales of Rapid HIV tests
  • Uber (UBER): FTC investigating UBER and Lyft (LYFT) over allegations of limiting NYC driver pay, according to Bloomberg
  • Uber (UBER): Waymo (GOOG / GOOGL) confirms 'Auto mode activated: We're beginning our first fully autonomous miles for Waymo employees in Atlanta, building on years of experience and 33M+ miles across SF, PHX, LA, and ATX.'
  • uniQure (QURE) announces that the Independent Data Monitoring Committee for EPISOD1, uniQure’s Phase I/II clinical trial of AMT-162, an investigational gene therapy for amyotrophic lateral sclerosis caused by mutations in the superoxide dismutase 1 gene, has met and reviewed 28-day safety data from the first study cohort
  • Valneva SE (VALN) announces the signing of a new $32.8 mln contract with the United States Department of Defense for the supply of its Japanese encephalitis vaccine, IXIARO
  • Venture Global (VG): Pimco $7 bln stake in VG is an indication of private asset strategy, according to WSJ
  • Veritex Holdings (VBTX) announced that Senior Executive Vice President, Chief Financial Officer, Terry S. Earley will retire effective June 30, 2025, following a planned transition period
  • Virgin Galactic (SPCE) announces a partnership with Redwire Corporation (RDW) to manufacture the research payload lockers that will travel aboard Virgin Galactic’s new Delta-Class spaceships
  • Volkswagan (VWAGY) Board want additional cost cuts, according to Handelsblatt
  • Walmart (WMT) Canada announces $6.5 bln investment in store and supply chain footprint - dozens of new stores to be built across Canada over the next five years
  • Walmart (WMT) same-day pharmacy delivery now available across the United States
  • Welltower (WELL) launches private funds management business; affiliate acquires NorthStar Healthcare Income
  • YPF Soc. Anonima (YPF) completed $327 mln acquisition of Mobil Argentina S.A. pursuant to ExxonMobil (XOM) and QatarEnergy units agreements

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

• Upgrades:
  • Akero Therapeutics (AKRO) upgraded to Buy from Neutral at BofA Securities; tgt raised to $63
  • BlackLine (BL) upgraded to Buy from Underperform at BofA Securities; tgt raised to $75
  • Brinker (EAT) upgraded to Buy from Neutral at Northcoast; tgt $215
  • Coca-Cola (KO) upgraded to Buy from Hold at Jefferies; tgt raised to $75
  • Commvault Systems (CVLT) upgraded to Outperform from Mkt Perform at William Blair
  • Corning (GLW) upgraded to Buy from Hold at HSBC Securities; tgt raised to $60
  • CVS Health (CVS) upgraded to Buy from Hold at Edward Jones
  • Edwards Lifesciences (EW) upgraded to Buy from Hold at Stifel; tgt raised to $90
  • Lam Research (LRCX) upgraded to Overweight from Neutral at Cantor Fitzgerald; tgt $100
  • Lam Research (LRCX) upgraded to Outperform from Mkt Perform at Bernstein; tgt raised to $91
  • Logitech Int'l SA (LOGI) upgraded to Buy from Hold at Kepler
  • MercadoLibre (MELI) upgraded to Buy from Neutral at New Street; tgt raised to $2,300
  • Meta Platforms (META) upgraded to Buy from Hold at The Benchmark Company; tgt $820
  • Pacira BioSciences (PCRX) upgraded to Hold from Sell at Truist; tgt raised to $25
  • RH (RH) upgraded to Neutral from Sell at Goldman; tgt raised to $374
  • SEI Investments (SEIC) upgraded to Outperform from Mkt Perform at Raymond James; tgt $99
  • Veritex Holdings (VBTX) upgraded to Outperform from Market Perform at Hovde Group; tgt $31.50
• Downgrades:
  • Everest Group (EG) downgraded to Market Perform from Outperform at BMO Capital Markets; tgt lowered to $375
  • Floor & Decor (FND) downgraded to Sell from Neutral at Goldman; tgt $79
  • KKR (KKR) downgraded to Hold from Buy at HSBC Securities; tgt $173
  • Lennox Int'l (LLI) downgraded to Neutral from Outperform at Mizuho; tgt lowered to $625
  • PagerDuty (PD) downgraded to Underperform from Buy at BofA Securities; tgt lowered to $18
  • Vertex Pharma (VRTX) downgraded to Equal Weight from Overweight at Wells Fargo; tgt $460
• Others:
  • Knightscope (KSCP) initiated with a Buy at H.C. Wainwright; tgt $16
  • Surrozen (SRZN) initiated with a Buy at H.C. Wainwright; tgt $32

• Econ Data (Friday):
  • 08:30 ET: December Personal Income (Briefing.com consensus 0.4%; prior 0.3%)
  • 08:30 ET: December Personal Spending (Briefing.com consensus 0.5%; prior 0.4%)
  • 08:30 ET: December PCE Price Index (Briefing.com consensus 0.3%; prior 0.1%)
  • 08:30 ET: December Core-PCE Price Index (Briefing.com consensus 0.2%; prior 0.1%)
  • 08:30 ET: Q4 Employment Cost Index (Briefing.com consensus 0.9%; prior 0.8%)
  • 09:45 ET: January Chicago PMI (Briefing.com consensus 41.5; prior 36.9)
• Earnings:
  • Monday (Jan 27)
    • Pre-Market: T BOH HOPE SOFI
    • After-Hours: ARE BRO CR ELS GGG NUE PCH SANM SBCF TRNS WRB WAL WSFS
  • Tuesday (Jan 28)
    • Pre-Market: ADNT BA CVLT GM IVZ JBLU KMB LMT PCAR PII BPOP RCL RTX SAP SASR SYF SYY XRX
    • After-Hours: ASH AX BXP CB FFIV FCF HLI LC LFUS LOGI MANH NXT PKG PFS QRVO RNR RNST SBUX LRN SYK TRMK UMBF VBTX
  • Wednesday (Jan 29)
    • Pre-Market: AIT ASML ADP AVT EAT GLW DHR EXP EXTR FLEX GD GPI HES HESM LII MNRO MSCI NDAQ NAVI NSC OTIS PB SMG SLGN SBSI SF TMUS TEVA VFC VIRT WNC
      
    • After-Hours: AMP AXS BHE CHRW CALX CP CCS CLB DLB ETD FIBK IBM LRCX LSTR LVS LEVI LBRT MXL MTH META MSFT NFG RJF RHI SEIC SIGI NOW TER TSLA TTEK URI WM WDC WHR WOLF
  • Thursday (Jan 30)
    • Pre-Market: FLWS AOS ALGM MO ABG AVY BHLB BX BFH BIP BC CAH CRS CAT CHKP CFR DOV DOW DT FRME FCFS FLG IP KEX LAZ LHX MBUU MAN MMC MA MBLY MUR NTCT NOK NOC OSK PH PHM DGX ROP RES SNY SCSC SNDR SHW SIRI LUV STM CI TMO TSCO TT UPS VLO
    • After-Hours: ATGE ABCB APPF AAPL AJG TEAM BKR BZH CNI CLS COUR DECK EMN FHI GEN HIG HTH INTC KLAC LPLA OLN PPG RMD SKYW STEL X VIAV V WY
  • Friday (Jan 31)
    • Pre-Market: ABBV AON ARCB ALV BMI BAH BR CHTR CVX CHD CL ETN XOM FHB BEN GNTX GWW IMO JHG LYB NVS OMF PSX RBC VSTS WT
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike