After Hours Report

Updated: 10-Dec-25 17:29 ET
Oracle sharply lower on earnings

The stock market captured solid broad-based gains this afternoon following the FOMC's decision to reduce the federal funds rate by 25 basis points, snapping a streak of muted sessions and moving the S&P 500 (+0.7%), Nasdaq Composite (+0.3%), and DJIA (+1.1%) within close proximity of their all-time highs. The Russell 2000 (+1.3%) captured record highs of its own as small-cap stocks, with their increased domestic presence and sensitivity to borrowing costs, surged in reaction to today's FOMC decision.

The market was largely expecting the FOMC to deliver a "hawkish cut" at today's meeting, meaning that a rate reduction was anticipated alongside commentary that would dampen expectations of further easing. 

Indeed, the Summary of Economic Projections (SEP) showed a median expectation of just one rate cut in 2026, unchanged from the September SEP. However, the SEP also showed an upward revision in the median estimate for the change in real GDP to 2.3% from 1.8%. Meanwhile, the median estimate for the unemployment rate held steady at 4.4%, as the outlook for PCE inflation was revised down to 2.4% from 2.6%.

While the FOMC may now embrace a "wait-and-see" approach, as noted by Fed Chair Powell's comment, "the Fed funds rate is now within a broad range of estimates of its neutral value," optimistic revisions to the economic outlook, in tandem with an expressed willingness to make policy decisions on a meeting-by-meeting basis, invite questions as to just how hawkish today's meeting truly was. 

Today's decision also featured an announcement that the Fed will begin purchasing Treasury bills, starting December 12, to the tune of $40 billion per month before likely being "significantly reduced" after a few months, noting that reserve balances have declined to ample levels.

The stock market certainly benefitted from the more dovish than expected tilt, with the major averages capturing solid gains after a morning spent in a mixed fashion near their unchanged levels. 

Nine S&P 500 sectors finished higher, with six notching gains of 1.0% or wider. A smattering of corporate news items contributed strength to several of the top-performing sectors. 

The industrials sector (+1.8%) finished at the top of the leaderboard, supported by shares of GE Vernova (GEV 722.97, +97.67, +15.62%) rallying after the company issued upbeat guidance and provided an optimistic long-term financial outlook.

The consumer discretionary sector (+1.5%) was another top mover, garnering the bulk of today's mega-cap strength due to solid gains in Amazon (AMZN 231.78, +3.86, +1.69%) and Tesla (TSLA 451.44, +6.27, +1.41%). 

Homebuilder names, which are sensitive to borrowing costs, added support, with the iShares U.S. Home Construction ETF gaining 3.2% today. 

Banking names lifted the financials sector (+1.1%) to a nice gain, with JPMorgan Chase (JPM 310.17, +9.66, +3.21%) mounting a solid rebound from yesterday's 4.6% slide. 

Elsewhere, the materials (+1.8%), health care (+1.5%), and energy (+1.1%) sectors round out today's top performers. 

While losses in Microsoft (MSFT 478.76, -13.26, -2.70%) and NVIDIA (NVDA 183.74, -1.23, -0.66%) limited gains in the information technology sector (+0.1%), solid participation across a majority of its components helped the sector recover from a loss of nearly 1.0% this morning. Oracle (ORCL 223.30, +1.78, +0.80%) ended with a modest gain ahead of its earnings release this afternoon despite spending the bulk of the session in negative territory.

Only the defensive utilities (-0.1%) and consumer staples (flat) sectors failed to notch a gain today. 

All told, today's FOMC decision delivered on the promise of a rate cut, while Fed Chair Powell's emphasis on a meeting-by-meeting approach and his comment that a rate hike is not in anyone's base case conveyed a surprisingly dovish tone that helped lift risk sentiment and support solid growth across stocks today. Still, investors will have plenty to monitor on the policy front going forward, as today's decision featured two dissenters (Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeffrey Schmid), while a new Fed Chair, likely one with an initiative to lower interest rates, will take the helm in May.

U.S. Treasuries climbed on Wednesday, snapping a four-day skid in the 10-year note and shorter tenors. The 2-year note yield settled down four basis points to 3.57%, and the 10-year note yield settled down two basis points to 4.16%

  • Nasdaq Composite: +22.5% YTD
  • S&P 500: +17.1% YTD
  • Russell 2000: +14.8% YTD
  • DJIA: +13.0% YTD
  • S&P Mid Cap 400: +7.7% YTD

Reviewing today's data:

  • Compensation costs for civilian workers increased 0.8% (Briefing.com consensus: 0.9%), seasonally adjusted, for the 3-month period ending in September 2025. That was a moderation from the 0.9% increase registered in the second quarter.
    • The key takeaway from the report is that it was an inflation-friendly report, evidenced by wages and salaries decelerating on a year-over-year basis for civilian workers (3.5% vs 3.9% a year ago), private industry (3.6% vs 3.8% a year ago), and state and local government workers (3.5% vs 4.6% a year ago).
  • The U.S. Treasury reported a $173.0 bln deficit for November (Briefing.com consensus -$223.4 bln) after a deficit of $284.0 bln in October.
  • The weekly MBA Mortgage Index rose 4.8% to follow last week's 1.4% decrease. The Refinance Index jumped 14.3% while the Purchase Index was down 2.4%.

Overseas:

  • Europe: DAX -0.2%, FTSE +0.1%, CAC -0.4%
  • Asia: Nikkei -0.1%, Hang Seng +0.4%, Shanghai -0.2%

Commodities:

  • Crude Oil +0.27 @ 58.53
  • Nat Gas +0.02 @ 4.60
  • Gold -12.60 @ 4224.70
  • Silver +0.07 @ 61.01
  • Copper +0.03 @ 5.35

After-Hours Spotlight:

  • Adobe (ADBE) beats by $0.10, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY26 EPS in-line, revs above consensus... ADBE +0.1%
  • Nordson (NDSN) beats by $0.10, misses on revs; guides Q1 EPS in-line, revs in-line; guides FY26 EPS in-line, revs in-line... NDSN +5.2%
  • Oracle (ORCL) beats by $0.62, misses on revs; RPO grew 15% sequentially to $523 bln... ORCL -10.9%
  • Oxford Industries (OXM) beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs below consensus... OXM -23.2%
  • Planet Labs (PL) beats by $0.03, beats on revs; guides Q4 revs above consensus... PL +14.7%
  • Synopsys (SNPS) beats by $0.12, reports revs in-line; guides Q1 EPS above consensus, revs below consensus; guides FY26 EPS above consensus, revs in-line... SNPS +2.6%
  • Vail Resorts (MTN) misses by $0.04, misses on revs... MTN +0.4%

Fair Value for Thursday, December 11:

  • S&P 500: 6,893
  • Nasdaq 100: 25,806
  • DJIA: 48,105
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):
    • Aegon N.V. (AEG) holds Capital Markets Day; provides various financial targets
    • AeroVironment (AVAV) misses by $0.34, reports revs in-line; guides FY26 EPS below consensus, revs below consensus
    • Atlantic Union Bankshares (AUB) sees Q4 mid single digit loan growth; sees Q4 NII of $325-330 mln; sees FY26 loans of $29-31 bln; sees FY26 NII of $1.350-1.375 bln; sees medium term efficiency ratio of 46-48%
    • BillionToOne (BLLN) Reports Third Quarter 2025 Results
    • Braze (BRZE) reports EPS in-line, beats on revs; guides Q4 EPS in-line, revs above consensus
    • Bread Financial (BFH) provides performance update for November
    • Casey's General (CASY) beats by $0.14, reports revs in-line; inside same-store sales +3.3%; raises FY26 EBITDA growth, narrows FY26 inside same-store sales growth
    • Chewy (CHWY) beats by $0.20, reports revs in-line; provides Q4 guidance in slide presentation
    • ChipMOS TECHNOLOGIES (IMOS) reports November revs increased 16.7% yr/yr
    • Chunghwa Telecom (CHT) reports november operating results
    • Cracker Barrel (CBRL) beats by $0.05, reports revs in-line, comparable store restaurant sales decreased 4.7%; lowers FY26 revenue and adjusted EBITDA guidance
    • Dave & Buster's (PLAY) misses by $0.17, misses on revs; comp sales -4%
    • Fifth Third (FITB) released presentation for Goldman conference; updated Q4 expectations
    • GameStop (GME) beats by $0.04 (single estimate), misses on revs
    • GE Vernova (GEV) reaffirms FY25 guidance, provides FY26 guidance, and raises multi-year financial outlook; also doubles quarterly dividend to $0.50/share and increases buyback authorization to $10 bln
    • HIVE Digital Technologies (HIVE) posts record November bitcoin production and scales capacity
    • Huntington Banc (HBAN) provided investor updates in presentation
    • Jumia (JMIA) releases preliminary KPIs for the two months ended November 30, 2025, highlighting a successful Black Friday event
    • M&T Bank (MTB) provided investor updates in presentation
    • Packaging Corp (PKG) provides Q4 outlook
    • Photronics (PLAB) beats by $0.15, beats on revs; guides Q1 EPS above consensus, revs above consensus
    • REV Group (REVG) beats by $0.05, beats on revs
    • Suzano S.A. (SUZ) maintains its CAPEX for fiscal year 2025 in the total amount of R$13.3 billion
    • United Natural Foods (UNFI) updates its long-term financial algorithm ahead of its 2025 Investor Day
    • VinFast (VFS) Auto announced Nov preliminary domestic Vietnam deliveries of 23,186 electric vehicles
  • General News
    • President Trump set to begin the final round of Fed chair interviews this week, according to FT
    • Kevin Hassett says he would not bow to political pressure to make interest rate decisions if he were Fed Chair, according to WSJ
    • Indonesia's trade with the U.S. could collapse, according to Reuters
    • USTR Jamieson Greer says Chinese deadline to purchase 12 million metric tons of soybeans has been extended past December, according to CNBC
    • China puts domestic artificial intelligence chips on a procurement list, according to FT
    • The Trump administration ends Biden-era student loan repayment plan, according to Washington Post
    • Republicans propose changes to cryptocurrency and digital asset regulation bill to compromise with Democrats, according to Politico 
    • U.S. seizes a sanctioned oil tanker off the coast of Venezuela, according to Bloomberg
    • USTR says U.S. will impose a tariff that is phased-in over two years on all imported Nicaraguan goods due to violation of human rights
    • OpenAI models will likely pose a high risk to cybersecurity, according to Axios
    • AAR Corp (AIR) signs a multi-year extension of its exclusive global distribution agreement with Collins Aerospace
    • Alibaba (BABA) and Bytedance place large orders for Nvidia (NVDA) H200 chips, according to Reuters
    • Ally Financial (ALLY) authorizes $2.0 bln share repurchase plan
    • Alphabet's (GOOG) Youtube TV preparing lower priced streaming packages for the beginning of 2026, according to WSJ
    • Alphabet (GOOG): EU regulators may hit Google with hefty fine over Play Store noncompliance in early 2026, according to Reuters
    • Alphabet's (GOOG) Google Cloud adds Palo Alto Networks (PANW) to Unified Security Program, boosting AI-powered, multi-domain protection
    • Alphabet (GOOG): Waymo ends 2025 with strong growth as robotaxi trips surge and service expansion accelerates
    • Amazon (AMZN) will have to pay Italian authorities EUR 721 mln following tax investigation, according to Ansa IT
    • Amazon (AMZN) announces $35 billion investment in India by 2030 to advance AI innovation, create jobs
    • Amazon (AMZN) same-day perishable grocery delivery expands to 2,300+ cities and towns as fresh foods become bestsellers
    • Artisan Partners Asset Mgmt (APAM) reports that its preliminary assets under management as of November 30, 2025 totaled $180.8 billion
    • Azenta (AZTA) has approved a share repurchase program under which the company may repurchase up to $250 mln of its outstanding common stock
    • BAE Systems (BAESY) to advance autonomous space-based surveillance technology for DARPA
    • Black Hills Corp (BKH) announces that its natural gas utility subsidiary in Nebraska received approval from the Nebraska Public Service Commission of a unanimous settlement agreement for new rates
    • Boeing (BA) and United Airlines (UAL) have conducted flight tests to evaluate a modernized data communication system designed to improve information flow between the flight deck, air traffic control and airline operation centers
    • Boeing (BA): DHS will create its own fleet of Boeing 737s for use during deportations, according to Washington Post
    • Borr Drilling (BORR) announces the settlement of its previously announced public offering of 21 mln common shares at a price of $4.00/share for total gross proceeds of $84 mln
    • British American Tobacco (BTI) extends buyback program through 2026
    • Bruker (BRKR) announces orders for high-performance magnetic resonance systems for materials and life-science research from leading European institutions
    • Cardinal Infrastructure Group Inc. (CDNL) off to a solid start amid a more tempered IPO market
    • Chubb (CB) reportedly made an informal approach for American Intl (AIG), accoridng to Insurance Insider US
    • CNF Inc (CNF) announces the results of its extraordinary general meeting
    • Colliers (CIGI) announces its partnership to innovate with Google Cloud
    • Comcast’s (CMCSA) Xfinity launches national video plans; the best entertainment experience for one simple price
    • Coupang (CPNG) CEO Park Dae-joon resigns, and Harold Rogers, the company's U.S. parent company, is appointed CEO
    • Dorchester Minerals (DMLP) announces retirement of Mr. William Casey McManemin from the Board of Managers; Appointments of Mr. Robert C. Vaughn as Interim Chairman and Mr. Albert G. Nance III to the Board of Managers
    • Douglas Emmett (DEI) Board approved the appointment of COO Kenneth M. Panzer to the position of President of the Company, effective as of December 4, 2025
    • Eaton (ETN) will open a new manufacturing campus in Henrico County, Virginia, for critical power distribution technologies to help meet record demand from data center customers
    • Equifax (EFX) announced the launch of Income Qualify, a new product that delivers income and employment insights from The Work Number® to mortgage lenders during the prequalification and pre-approval phase as a value add alongside the Equifax consumer credit file
    • Euroseas (ESEA) announces 3-yr forward charter contracts for three of its modern 2,800 TEU containerships
    • Fluor (FLR) announces that Teck Resources Limited has awarded Fluor the Highland Valley Copper Mine Life Extension project near Logan Lake, British Columbia, Canada
    • Ford (F) acknowledges that some of its Chinese rare-earth magnet suppliers were included in the first batch of new export licences, according to Reuters
    • GE Vernova (GEV) working with U.S. government to increase supply of yttrium, according to Reuters
    • GlaxoSmithKline (GSK) secures US orphan drug status for B7-H3 ADC in small-cell lung cancer
    • Granite Constr (GVA) to upgrade Perris South Metrolink Station and Layover Facility to boost capacity and reliability
    • HCA (HCA): GOP weighs Medicare hospital pay cuts as counter to Democrats' push to renew ACA subsidies, according to Bloomberg
    • IAMGOLD (IAG) completes term loan repayment and authorizes share buyback program
    • ICICI Bank (IBN) provides Prudential Corporation (PUK) and ICICI Prudential Asset Management Company updates
    • IDEAYA Biosciences (IDYA) files IND to advance first-in-class KAT6/7 oncology program
    • Intel (INTC) and AMD (AMD) face claims they did not prevent their chips from ending up in Russian missiles, according to Bloomberg
    • Lazard (LAZ) reports November AUM of about $250.8 bln vs $267.780 bln October-end
    • Lockheed Martin (LMT) and Microsoft (MSFT) collaborate on next-gen C-UAS technologies
    • Lockheed Martin (LMT) has announced construction on a state-of-the-art facility that will support production of the Next Generation Interceptor is nearing completion
    • Marvell (MRVL) introduces its Golden Cable initiative, a program designed to accelerate and broaden the active electrical cable ecosystem and enable faster time-to-market for hyperscaler AI deployments
    • Marvell (MRVL) CEO Matt Murphy responds to reports of lost business from Amazon (AMZN) in CNBC interview; says "those orders are in the books"
    • Mastercard (MA) increases quarterly cash dividend 14% to $0.87/share from $0.76/share and approves $14 billion share repurchase program
    • Match Group (MTCH) announces a leadership transition at Hinge as Founder and CEO Justin McLeod steps away from the company to launch Overtone, a new standalone AI-driven venture backed by Match Group
    • MediWound (MDWD) reports new clinical data demonstrating NexoBrid’s effectiveness in preventing traumatic tattoos after abrasion and blast injuries
    • Merck (MRK): Medicenna Updates MDNA11 Clinical Trial Results at the ESMO-IO Congress 2025, Further Bolstering its Anti-Tumor Activity in Advanced Solid Tumors
    • Microsoft (MSFT) invests $17.5 billion in India to drive AI diffusion at population scale
    • Microsoft (MSFT), Meta, Google and Apple recieved a warning from a bipartisan group of state attorneys general in regards to AI outputs, according to Reuters
    • Motorola Solutions (MSI) and Google (GOOG) announce a new innovation in emergency response: Android users can now share live video with 911 call handlers within seconds of connecting the call
    • Nukkleus (NUKK) appoints Morel Levi as the Chief Financial Officer of the Company, effective as of December 8
    • NVIDIA (NVDA): President Trump's decision to allow Nvidia H200 chips to be sold to China was fueled by Huawei gains, according to Bloomberg
    • NVIDIA (NVDA) building location verification technology in order to battle chip smuggling, according to Reuters
    • NVIDIA (NVDA): China considering Nvidia chip purchase after meeting with technology companies, according to The Information
    • ORIX Corporation (IX) announces leadership and structural changes; The Board of Directors has decided to appoint Hidetake Takahashi as Chief Executive Officer on January 1, 2026
    • Praxis Precision Medicines (PRAX) announces alignment with FDA on simplified and accelerated registrational pathway for Elsunersen in Early Onset SCN2A developmental and epileptic encephalopathy
    • Rackspace Technology (RXT) announces that Niterra EMEA GmbH partnered with Rackspace to advance its digital transformation through a rapid migration to Google Cloud
    • RedCloud Holdings plc (RCT) announces and signed its second Joint Venture to deploy RedAI in Türkiye, with a minimum contract value of $5 mln per year over ten years, to transform the country’s $166 bkn market for Fast Moving Consumer Goods
    • Rocket Lab USA (RKLB) accelerates responsive launch cadence with KAIST mission moved forward
    • Sagimet Biosciences (SGMT) announced that Ascletis Pharma Inc. issued a December 10 statement that China’s National Medical Products Administration has accepted its New Drug Application for denifanstat for the treatment of moderate to severe acne
    • Seabridge Gold (SA) announced further results from 2025 drilling on the Snip North Deposit at the 100% owned Iskut project
    • Spotify (SPOT) is giving users the power to steer the algorithm
    • StandardAero (SARO) authorizes $450 mln stock repurchase program
    • Super Micro Computer (SMCI) announces the expansion of its NVIDIA (NVDA) Blackwell architecture portfolio with the introduction and shipment availability of new 4U and 2-OU liquid-cooled NVIDIA HGX B300 system
    • Telefonica Brasil (VIV) Board approved proposal to be deliberated by its shareholders for an operation to reduce the Company’s capital stock in the amount of R$4.0 bln
    • Telus (TU) and Qohash announce strategic partnership that will embed enhanced data protection into TELUS' generative AI platform, Fuel iX
    • Teva Pharma (TEVA) removes over 200 improper patent listings under pressure from FTC
    • T-Mobile US (TMUS): National Advertising Division will refer T-Mobile to the FTC and State Attorneys General for declining to participate in advertising review
    • Toro (TTC) authorizes the repurchase of up to an additional 6 mln shares
    • Towne Bank (TOWN): Dogwood State Bank (DSBX) shareholders approve merger into TowneBank
    • Toyota (TM): Elliott putting pressure on Toyota with 5% stake, according to Reuters
    • Twilio (TWLO): The LA Kings announce a new strategic multi-year partnership with Twilio
    • UniFirst: Third Avenue (UNF) announces support for Engine Capital Director nominees to strengthen the UniFirst Board and unlock shareholder value
    • Valneva SE (VALN) reports positive final phase 2 antibody persistence and safety results in children for its chikungunya vaccine IXCHIQ
    • Vertical Aerospace Group (EVTL) outlines integrated eVTOL strategy spanning aircraft, operators and networks
    • Volkswagen AG (VWAGY): The Audi Group is entering into a strategic partnership with UST
    • Walt Disney (DIS) nominates former Apple executive Jeff Williams for election as new independent director, expanding total size of the board to 11, effective as of the election of directors at the 2026 annual meeting
    • Wiley (WLY) has boosted its Fiscal 2026 share repurchase allocation to $100 mln, up from $60 mlnin Fiscal 2025 and $45 mln in Fiscal 2024
  • Upgrades:
    • AbbVie (ABBV) upgraded to Buy from Hold at HSBC, tgt $265
    • Andersons (ANDE) upgraded to Outperform from Market Perform at BMO Capital, tgt $65
    • Blue Owl Capital (OWL) upgraded to Strong Buy from Market Perform at Raymond James, tgt $20
    • Commercial Metals (CMC) upgraded to Buy from Hold at Jefferies, tgt $78
    • Compass Pathways (CMPS) upgraded to Outperform from Perform at Oppenheimer, tgt $15
    • Docebo (DCBO) upgraded to Outperform from Sector Perform at ATB Capital
    • Dyne Therapeutics (DYN) upgraded to Outperform from Perform at Oppenheimer, tgt $40
    • Franco-Nevada (FNV) upgraded to Outperform from Sector Perform at RBC Capital, tgt $250
    • GE Vernova (GEV) upgraded to Outperform from Sector Perform at RBC Capital, tgt $761
    • GE Vernova (GEV) upgraded to Outperform from Perform at Oppenheimer, tgt $855
    • Helmerich & Payne (HP) upgraded to Overweight from Neutral at JPMorgan, tgt $34
    • HSBC (HSBC) upgraded to Buy from Neutral at BofA Securities
    • JBT Marel (JBTM) upgraded to Buy from Hold at Jefferies, tgt $180
    • Liberty Energy (LBRT) upgraded to Overweight from Neutral at JPMorgan, tgt $24
    • Middleby (MIDD) upgraded to Buy from Hold at Jefferies, tgt $175
    • Parsons (PSN) upgraded to Buy from Hold at TD Cowen, tgt $75
    • Pentair (PNR) upgraded to Buy from Hold at Jefferies, tgt $135
    • PepsiCo (PEP) upgraded to Overweight from Neutral at JPMorgan, tgt $164
    • ProPetro Holding (PUMP) upgraded to Overweight from Neutral at JPMorgan, tgt $13
    • SATS (EchoStar) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $110
    • Terex (TEX) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $60
    • Vale (VALE) upgraded to Outperform from Sector Perform at RBC Capital, tgt $14.20
    • Waters (WAT) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $480
    • Wheaton Precious Metals (WPM) upgraded to Outperform from Sector Perform at RBC Capital, tgt $130
  • Downgrades:
    • Biogen (BIIB) downgraded to Reduce from Hold at HSBC, tgt $143
    • Lakeland Industries (LAKE) downgraded to Neutral from Buy at DA Davidson, tgt $14
    • Noble Corp. (NE) downgraded to Neutral from Overweight at JPMorgan, tgt $33
    • Patterson-UTI (PTEN) downgraded to Underweight from Neutral at JPMorgan, tgt $6
    • Regal Rexnord (RRX) downgraded to Hold from Buy at Jefferies, tgt $160
    • Rogers Communications (RCI) downgraded to Hold from Buy at Desjardins
    • Transocean (RIG) downgraded to Underweight from Neutral at JPMorgan
    • Veralto (VLTO) downgraded to Hold from Buy at Jefferies, tgt $105
  • Others:
    • ABM Industries (ABM) initiated with a Buy at Freedom Capital, tgt $54
    • American Bitcoin (ABTC) initiated with a Buy at Roth Capital, tgt $4
    • Apogee Therapeutics (APGE) initiated with a Buy at Deutsche Bank, tgt $103
    • ArriVent Biopharma (AVBP) initiated with a Buy at BTIG Research, tgt $45
    • Bath & Body Works (BBWI) initiated with a Neutral at Guggenheim
    • Birkenstock (BIRK) initiated with a Buy at Guggenheim, tgt $60
    • Bridgewater Bancshares (BWB) initiated with an Equal Weight at Stephens, tgt $20
    • Burlington Stores (BURL) initiated with a Neutral at Guggenheim
    • Capri Holdings (CPRI) initiated with a Buy at Guggenheim, tgt $32
    • Clean Harbors (CLH) initiated with a Neutral at Citigroup, tgt $263
    • Deckers Outdoor (DECK) initiated with a Neutral at Guggenheim
    • Ferrari (RACE) initiated with a Neutral at Oddo BHF
    • Gap (GAP) initiated with a Neutral at Guggenheim
    • Laureate Education (LAUR) initiated with an Overweight at JPMorgan, tgt $40
    • LKQ Corp (LKQ) initiated with an Overweight at Stephens, tgt $39
    • Lululemon (LULU) initiated with a Neutral at Guggenheim
    • Macy's (M) initiated with a Neutral at Guggenheim
    • Magnum Ice Cream (MICC) initiated with a Neutral at BofA Securities
    • Magnum Ice Cream (MICC) initiated with an Overweight at Morgan Stanley
    • National Vision (EYE) initiated with a Buy at Guggenheim, tgt $32
    • Nike (NKE) initiated with a Buy at Guggenheim, tgt $77
    • On Holding (ONON) initiated with a Buy at Guggenheim, tgt $59
    • Opus Genetics (IRD) initiated with a Buy at B. Riley, tgt $9
    • Orchestra BioMed (OBIO) initiated with a Buy at TD Cowen, tgt $15
    • OrthoPediatrics (KIDS) initiated with a Buy at Canaccord, tgt $24
    • Peloton (PTON) initiated with a Neutral at Guggenheim
    • Planet Fitness (PLNT) initiated with a Buy at Guggenheim, tgt $130
    • PVH Corp (PVH) initiated with a Neutral at Guggenheim
    • Revolve Group (RVLV) initiated with a Neutral at Guggenheim
    • Roblox (RBLX) initiated with a Buy at B. Riley, tgt $125
    • Ross Stores (ROST) initiated with a Buy at Guggenheim, tgt $199
    • Samsara (IOT) initiated with an Overweight at KeyBanc, tgt $55
    • SharkNinja (SN) initiated with a Buy at TD Cowen, tgt $135
    • Sprott (SII) initiated with a Sector Perform at RBC Capital
    • Take-Two (TTWO) initiated with a Buy at B. Riley, tgt $300
    • Tapestry (TPR) initiated with a Neutral at Guggenheim
    • TJX (TJX) initiated with a Buy at Guggenheim, tgt $175
    • Under Armour (UAA) initiated with a Buy at Guggenheim, tgt $6
    • Unisys (UIS) initiated with an Outperform at William Blair
    • Urban Outfitters (URBN) initiated with a Neutral at Guggenheim
    • VF Corp (VFC) initiated with a Neutral at Guggenheim
    • Victoria's Secret (VSCO) initiated with a Neutral at Guggenheim
  • Econ Data (Thursday):
    • 8:30 ET: Weekly Initial Claims (prior 191,000), Continuing Claims (prior 1.939 mln), and September Trade Balance (Briefing.com consensus -$61.7 bln; prior -$59.6 bln)
    • 10:00 ET: September Wholesale Inventories (Briefing.com consensus -0.2%; prior NA)
    • 10:30 ET: Weekly natural gas inventories (prior -12 bcf)
  • Earnings:
    • Monday (Dec 8)
      • Pre-Market: None
      • After-Hours: CMP PHR TOL
      Tuesday (Dec 9)
      • Pre-Market: ASO AZO CAL CPB CNM FERG GIII KFY OLLI SAIL
      • After-Hours: AVAV BRZE CASY CBRL PLAY GME
    • Wednesday (Dec 10)
      • Pre-Market: CHWY MOMO PLAB REVG UEC
      • After-Hours: ADBE NDSN ORCL OXM PL SNPS MTN
    • Thursday (Dec 11)
      • Pre-Market: CIEN LOVE
      • After-Hours: AVGO COST LULU NTSK RH
    • Friday (Dec 12)
      • Pre-Market: None
      • After-Hours: None
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