After Hours Report

The stock market closed mixed at the index level, but the vibe under the surface was negative through the entire session. The underlying downside bias followed a hotter-than-expected January Consumer Price Index (CPI) report, which sent Treasury yields sharply higher.

Total CPI was up 3.0% year-over-year, versus 2.9% in December, while core CPI was up 3.3% year-over-year, versus 3.2% in December. The 10-yr note yield, which is most sensitive to changes in inflation, was at 4.53% ahead of the 8:30 ET release before settling at 4.64%. The 2-yr yield settled eight basis points higher at 4.37%.

The S&P 500 closed 0.3% lower and the Dow Jones Industrial Average closed 0.5% lower after recovering off session lows. The Nasdaq Composite settled slightly higher than yesterday, boosted by gains in the mega cap space in a buy-the-dip bid following initial declines. 

Apple (AAPL 236.87, +4.25, +1.8%) and Meta Platforms (META 725.38, +5.58, +0.8%) were integral in the turnaround action after being down as much as 0.8% and x%, respectively. 

Other stocks that went against the downside grain included DoorDash (DASH 200.89, +7.80, +4.0%), Gilead Sciences (GILD 103.31, +7.17, +7.5%), and Confluent (CFLT 37.65, +7.55, +25.1%), which hit 52-week highs after reporting earnings. 

Many other stocks registered declines, leading nine of the 11 S&P 500 sectors lower. The energy (-2.7%) and rate-sensitive real estate (-0.9%) sectors closed at the bottom of the pack.

• Dow Jones Industrial Average: +4.3% YTD
• S&P Midcap 400: +1.6% YTD
• Russell 2000: +1.2% YTD
• S&P 500: +2.9% YTD
• Nasdaq Composite: +1.8% YTD

Reviewing today's economic data:

• Weekly MBA Mortgage Applications Index 2.3%; Prior 2.2%
• January CPI 0.5% (Briefing.com consensus 0.3%); Prior 0.4%
• January Core CPI 0.4% (Briefing.com consensus 0.3%); Prior 0.2%

Thursday's economic lineup includes:

• 8:30 ET: January PPI (Briefing.com consensus 0.2%; prior 0.2%), January Core PPI (Briefing.com consensus 0.3%; prior 0.0%), weekly Initial Claims (Briefing.com consensus 217,000; prior 219,000), and Continuing Claims (prior 1.886 mln)
• 10:30 ET: Weekly natural gas inventories (prior -174 bcf)

Overseas:

• Europe: DAX +0.5%, FTSE +0.3%, CAC +0.2%
• Asia: Nikkei +0.5%, Hang Seng +2.6%, Shanghai +0.9%

Commodities:

• Crude Oil -1.95 @ 71.37
• Nat Gas +0.05 @ 3.57
• Gold -4.70 @ 2928.10
• Silver +0.45 @ 32.75
• Copper +0.10 @ 4.70

After-Hours Spotlight:

• AppLovin (APP) beats by $0.48, beats on revs; guides Q1 revs above consensus... APP up 20.9%
• Aspen Aerogels (ASPN) beats by $0.05, beats on revs; guides Q1 EPS below consensus, revs below consensus... ASPN down 28.8%
• Cisco (CSCO) beats by $0.03, reports revs in-line; guides Q3 EPS in-line, revs above consensus; guides FY25 EPS and revs above consensus; also increases dividend and increase buyback auth by $15 bln... CSCO up 6.4%
• Dutch Bros (BROS) beats by $0.05, beats on revs; guides FY25 revs above consensus... BROS up 22.8%
• Fastly (FSLY) misses by $0.03, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY25 EPS below consensus, revs above consensus... FSLY down 16.5%
• MGM Resorts (MGM) beats by $0.13, beats on revs; provides FY25 guidance... MGM up 8.0%
• Rapid7 (RPD) misses by $0.02, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus... RPD down 8.5%
• Reddit (RDDT) beats by $0.11, beats on revs, DAUq increased 39%; guides Q1 revs above consensus... RDDT down 15.5%
• Robinhood Markets (HOOD) reports Q4 (Dec) results, beats on revs... HOOD up 10.7%
• The Trade Desk (TTD) beats by $0.02, misses on revs; guides Q1 revs below consensus... TTD down 26.0%

Fair Value for Thursday, February 13:

• S&P 500: 6,072
• Nasdaq 100: 21,801
• DJIA: 44,464

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

• Earnings/Guidance (Full Earnings Calendar):
  • Acadia Realty Trust (AKR) reports FFO in-line, beats on revs; guides FY25 FFO in-line; increases dividend 5.3%
  • Adaptive Biotechnologies (ADPT) beats by $0.03, beats on revs; Issues FY25 guidance
  • Agree Realty (ADC) beats by $0.01, beats on revs; guides FY25 FFO in-line
  • Alkermes Plc (ALKS) beats by $0.29, beats on revs; guides FY25 revs in-line
  • Allison Transmission (ALSN) beats by $0.10, reports revs in-line; guides FY25 revs below consensus
  • Assurant (AIZ) beats by $1.41, beats on revs
  • Avis Budget (AVIS) reports Q4 (Dec) results, revs in-line
  • Barrick (GOLD) beats by $0.04, misses on revs
  • Biogen (BIIB) beats by $0.09, beats on revs; guides FY25 EPS below consensus
  • BlackLine (BL) misses by $0.03, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus
  • Brookfield Asset Management (BAM) announces record 2024 results and 15% dividend increase
  • Camtek (CAMT) beats by $0.02, beats on revs; guides Q1 revs above consensus
  • Chefs' Warehouse (CHEF) beats by $0.04, beats on revs; guides FY25 revs in-line
  • CME Group (CME) beats by $0.07, reports revs in-line
  • Conduent (CNDT) misses by $0.06, misses on revs
  • Confluent (CFLT) beats by $0.03, beats on revs; guides Q1 EPS in-line; guides FY25 EPS in-line
  • CRISPR Therapeutics (CRSP) beats by $0.75, beats on revs; provides business update
  • CVS Health (CVS) beats by $0.28, reports revs in-line; guides FY25 EPS in-line
  • Denny's (DENN) misses by $0.01, misses on revs
  • Diodes (DIOD) misses by $0.09, reports revs in-line; guides Q1 revs below consensus
  • Dominion Energy (D) beats by $0.02, misses on revs; guides FY25 EPS in-line; reaffirms long-term operating EPS growth guidance
  • DoorDash (DASH) misses by $0.01, beats on revs; reports Adjusted EBITDA in-line with prior guidance
  • Edwards Lifesciences (EW) beats by $0.04, beats on revs; guides Q1 EPS in-line, revs in-line; sees FY25 EPS in line
  • Energy Transfer (ET) misses by $0.08, misses on revs
  • Eversource Energy (ES) beats by $0.02, misses on revs; guides FY25 EPS in-line
  • Exelixis (EXEL) beats by $0.12, reports revs in-line; reaffirms FY25 revs guidance
  • Exelon (EXC) beats by $0.05, beats on revs; guides FY25 EPS above consensus
  • Freshworks (FRSH) beats by $0.04, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY25 EPS in-line, revs in-line
  • Generac (GNRC) beats by $0.27, reports revs in-line
  • Gilead Sciences (GILD) beats by $0.16, beats on revs; guides FY25 EPS above consensus
  • Healthcare Services Group (HCSG) misses by $0.04, reports revs in-line; guides Q1 revs above consensus
  • Heineken (HEINY) reports FY24 results; revs increase 5% yr/yr
  • HIVE Digital Technologies (HIVE) beats on top and bottom lines
  • IAC Inc. (IAC) misses by $2.63, beats on revs
  • Interpublic (IPG) misses by $0.06, misses on revs; provides outlook; outlines accelerated business transformation
  • Kornit Digital (KRNT) misses by $0.02, reports revs in-line; guides Q1 revs in-line
  • Kraft Heinz (KHC) beats by $0.06, misses on revs; guides FY25 EPS below consensus
  • Lithia Motors (LAD) beats by $0.62, beats on revs
  • Lyft (LYFT) beats by $0.07, beats on revs, Gross Bookings up 15% yr/yr; Sees Q1 Gross Bookings growth of 10-14%
  • Martin Marietta (MLM) beats by $0.23, reports revs in-line; guides FY25 revs in-line
  • Mirion Technologies (MIR) beats by $0.03, beats on revs; guides FY25 EPS in-line, revs in-line
  • Monarch Casino & Resort (MCRI) reports record 2024 fourth quarter financial results
  • Mr. Cooper Group (COOP) beats by $0.47, beats on revs
  • Nexa Resources (NEXA) reports Q4 exploration results
  • NiSource (NI) beats by $0.01; guides FY25 EPS in-line
  • OneStream (OS) beats by $0.05, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs in-line
  • Proficient Auto Logistics (PAL) projects Q4 revs above consensus
  • Pitney Bowes (PBI) beats by $0.18, beats on revs; guides FY25 EPS above two analyst estimate, revs in-line
  • Primerica (PRI) beats by $0.05, beats on revs; Declared 16% increase in dividend
  • Radware (RDWR) beats by $0.03, beats on revs
  • Red Rock Resorts (RRR) beats by $0.33, beats on revs
  • Restaurant Brands Int'l (QSR) beats by $0.03, reports revs in-line; declares dividend
  • Ryder System (R) beats by $0.07, misses on revs; guides Q1 EPS in-line; guides FY25 EPS in-line
  • SAGE Therapeutics (SAGE) misses by $0.08, misses on revs
  • Sensata Tech (ST) beats by $0.01, beats on revs; guides Q1 EPS below consensus, revs in-line
  • SFL Corporation (SFL) reports EPS in-line, beats on revs
  • SiteOne Landscape Supply (SITE) misses by $0.22, beats on revs
  • Sonic Automotive (SAH) beats by $0.05, beats on revs
  • Southern Copper (SCCO) reported Q4 results; to maintain the current activity level in copper in 2025
  • SpartanNash (SPTN) beats by $0.10, reports revs in-line; guides FY25 EPS below consensus, revs above consensus
  • STAAR Surgical (STAA) misses by $0.37, misses on revs
  • Super Micro Computer (SMCI) projects Q2 earnings and sales below consensus; guides FY25 revenue in-line with consensus; sees $40 bln in revs possible in FY26
  • Sylvamo (SLVM) beats by $0.18, reports revs in-line
  • Taylor Morrison Home (TMHC) beats by $0.25, beats on revs
  • Tenet Healthcare (THC) beats by $0.49, misses on revs; guides FY25 EPS above consensus, revs below consensus
  • Teradata (TDC) beats by $0.10, misses on revs; guides Q1 EPS below consensus; guides FY25 EPS below consensus; CFO to step down
  • Upstart (UPST) beats by $0.30, beats on revs; guides Q1 revs above consensus; guides FY25 revs above consensus
  • Urban Edge Properties (UE) reported fourth quarter results
  • Vertiv (VRT) beats by $0.17, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY25 EPS in-line, revs in-line
  • Wabtec (WAB) misses by $0.05, misses on revs; guides FY25 EPS in-line, revs below consensus; increases dividend by 25%
  • Waters (WAT) beats by $0.07, beats on revs; guides Q1 EPS below consensus; guides FY25 EPS in-line, revs in-line
  • Welltower (WELL) beats by $0.01, beats on revs; guides FY25 FFO in-line
  • W.P. Carey (WPC) beats by $0.02, beats on revs; guides FY25 FFO in-line
  • Zillow (ZG) beats by $0.01, beats on revs; guides Q1 revs below consensus; expects low to mid-teens revenue growth in FY25
  • Zuora (ZUO) provides preliminary results for JanQ; sees total revs of $117.7 mln
• General News
  • President Trump expected to announce new reciprocal tariffs today (Note: White House schedule says President Trump will sign executive orders at 14:30 ET), according to Reuters
  • President Trump signed an executive order implementing the President’s Department of Government Efficiency workforce optimization initiative
  • Elon Musk defended cost cutting efforts and President Trump said he would abide by court rulings and appeal rulings he disagreed with, according to the Wall Street Journal
  • California's insurance commission aims to impose $1 bln assessment on insurance companies, according to Bloomberg
  • Energy Secretary Chris Wright in interview said US should stop closing coal plants, according to Bloomberg
  • President Trump considering plan to combine powers of bank regulators, according to the Wall Street Journal
  • House Republicans release $4.5 trillion budget resolution for 2025-2034; also includes increase in the debt ceiling
  • President Trump says in Truth Social Post that he had a lengthy and highly productive talk with President Putin of Russia
  • Senate votes to advance nomination of RFK Jr. to full Senate vote; vote was 53-47
  • Chicago Fed President Austan Goolsbee (voting FOMC member) says that Fed's job is "not done" if they get multiple higher inflation reports, but he doesn't want to read too much into one report, according to NY Times interview
  • President Trump says he spoke with Ukraine President Volodymyr Zelenskyy; says Zelenskyy wants to "make peace"
  • AbbVie (ABBV) and Xilio Therapeutics (XLO) announce a collaboration and option-to-license agreement to develop novel tumor-activated, antibody-based immunotherapies, including masked T-cell engagers, leveraging Xilio's proprietary technology
  • Alpine Income Property Trust (PINE) announces that its Board of Directors approved a new common stock repurchase program
  • AMC Entertainment (AMC): Goldman (GS) discloses 6.5% passive stake
  • Anaptys (ANAB) announces rosnilimab achieved positive results in RA Phase 2b trial and highest ever reported CDAI LDA response over 6 months
  • Angi Inc. (ANGI) releases earnings and letter to shareholders
  • Applied Digital (APLD) closes $375 million financing with SMBC to support Ellendale HPC Campus
  • Artisan Partners Asset Mgmt (APAM) reports that its preliminary assets under management as of January 31, 2025 totaled $168.4 bln
  • BHP Group (BHP) announced that its Chair, Ken MacKenzie, will retire from the Board on March 31, 2025
  • Bicara Therapeutics (BCAX) announces first patients enrolled in FORTIFI-HN01, a Pivotal Phase 2/3 Clinical Trial of Ficerafusp Alfa in 1L recurrent/metastatic head and neck squamous cell carcinoma
  • BioCryst Pharma (BCRX) announces that Infarmed in Portugal has recommended ORLADEYO (berotralstat) for the routine prevention of recurrent attacks of hereditary angioedema in eligible patients 12 years and older
  • Blink Charging's (BLNK) Envoy Technologies, subsidiary, files registration statement for proposed initial public offering of shares
  • CAE (CAE) identified as a strategic partner to the Government of Canada to work with the Royal Canadian Air Force to design and co-develop the Future Fighter Lead-in Training program, which will prepare and train pilots to operate Canada's advanced fighters
  • California Water (CWT) has partnered with Walmart (WMT) to enable these customers to pay their water bills at Walmart Bill Pay service counters nationwide at no additional cost
  • Calumet Specialty Products (CLMT) was recently informed by the DOE’s Loan Program Office that the review has been successfully complete
  • Cellebrite DI's (CLBT) Cellebrite Government Cloud platform has achieved FedRAMP High Ready designation by the Federal Risk and Authorization Management Program
  • Charles Schwab (SCHW) announced the launch of broad access to an expanded range of securities in the overnight trading session following a series of successful pilots at the end of 2024
  • Chevron (CVX) to layoff 15-20% of workers, according to Barron's
  • Cognizant Tech (CTSH) announces a new collaboration with Elektrobit to integrate Elektrobit's Software Development Kit for EB corbos AdaptiveCore into Cognizant's software-defined vehicle solution accelerator
  • Comcast (CMCSA) being looked into by FCC in regards to promotion of DEI programs, according to Reuters
  • Commscope (COMM) and NCTC announce a collaboration with the National Content & Technology Cooperative to provide enhanced access to CommScope's end-to-end network solutions for NCTC members
  • Confluent (CFLT) announces strategic partnership with jio platforms limited to accelerate India’s Development of GenAI and next-gen applications with data streams through jio cloud services
  • CVRx (CVRX) announces new real-world evidence demonstrating significant reductions in healthcare utilization with Barostim
  • Diana Shipping (DSX) has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2010-built Post-Panamax vessel “Alcmene”, with delivery to the buyer latest by March 7, 2025, for a sale price of ~$11.9 mln before commissions
  • Federal Signal (FSS) completes the acquisition of substantially all the assets and operations of Waterblasting, owner of Hog Technologies, a U.S. manufacturer of truck-mounted road-marking, line-removal, and waterblasting equipment for an initial purchase price of $78.1 million
  • Fox Corporation (FOXA): Super Bowl LIX had the largest audience for a single-network telecast in TV history, according to Nielsen
  • Fox Corporation (FOXA) announces that the presentation of Super Bowl LIX on FOX and Tubi generated over $800 Million in gross revenue from advertising sales across all platforms, with record pricing for the sold-out game
  • Genmab (GMAB) announces the publication of its Annual Report for 2024
  • GRAIL (GRAL) and Quest Diagnostics (DGX) announce the initial phase of a program to improve provider access to GRAIL's Galleri multi-cancer early detection test
  • Granite Constr (GVA) has been awarded a $78 mln infrastructure project by the California Department of Transportation in Orange County, California
  • Holley Inc. (HLLY) launches Modern Truck & Off-Road Performance Packages for the aftermarket industry
  • Indivior (INDV) confirmed that the final review of the SUBLOCADE label changes has been delayed
  • INmune Bio (INMB) continues to advance its Natural Killer cell therapy, INKmune, in a Phase I/II trial for men with metastatic castration-resistant prostate cancer
  • Intercontinental Exchange (ICE) and Reddit (RDDT) announce an agreement for Intercontinental Exchange to leverage Reddit’s Data API to research, create and distribute new data and analytics products for the financial industry
  • Intercontinental Exchange (ICE): The New York Stock Exchange to Launch NYSE Texas
  • Interpublic (IPG) authorizes a $155mln share repurchase program
  • Invesco (IVZ) reports preliminary month-end assets under management (AUM) of $1,902.8 billion, an increase of 3.1% versus previous month-end. The firm delivered net long-term inflows of $5.1 billion in the month
  • Ivanhoe Electric (IE) priced an underwritten public offering last night of 10,256,411 units at $5.85/unit
  • JFrog (FROG) has signed a strategic collaboration agreement with Amazon (AMZN) Web Services
  • JPMorgan Chase (JPM) planning additional layoffs, according to Barron's
  • Koppers Holdings (KOP) increases quarterly cash dividend 14% to $0.08/share from $0.07/share
  • Kroger (KR) announces David Kennerley as incoming CFO, effective April 3
  • L3Harris (LHX) delivers for Intuitive Machines (LUNR) IM-2 Nova-C lunar lande
  • Lazard (LAZ) reports that its preliminary assets under management as of January 31, 2025 totaled ~$233.0 bln
  • Levi Strauss & Co. (LEVI) announces strategic leadership changes to accelerate its shift to a best-in-class, denim lifestyle retailer
  • Lightbridge (LTBR) announces a significant milestone in its innovative nuclear fuel development efforts, successfully performing a co-extrusion demonstration of a coupon sample consisting of an alloy of depleted uranium and zirconium with an outer cladding made of nuclear-grade zirconium alloy material at Idaho National Laboratory
  • Matthews International (MATW) highlights support from investment community following Fiscal 2025 first quarter earnings announcement
  • MaxCyte (MXCT) enters strategic platform license with TG Therapeutics
  • McEwen Mining (MUX) announces that its subsidiary Andes Corporación Minera S.A., has applied for admission of the Los Azules copper project to Argentina's Large Investment Incentive Regime
  • MediWound (MDWD) initiates VALUE, a global, pivotal Phase III trial evaluating EscharEx for the treatment of venous leg ulcers
  • Micron (MU) wants partner for Sanand chip plant, according to Economic Times
  • Nippon Steel execs to visit United States, according to NTV
  • Nissan Motor (NSANY) and Honda (HMC) expected to announce final decision on merger talks tomorrow, according to NHK
  • Novo Nordisk A/S (NVO): Jama Network says "Once-weekly Semaglutide in adults with alcohol use disorder"
  • Orchestra BioMed (OBIO) announces data demonstrating favorable impact of AVIM therapy on diastolic dysfunction, a key driver of heart failure progression, will be presented as late-breaking science at the THT 2025 Conference
  • Pfizer (PFE): FDA approves brentuximab vedotin with lenalidomide and rituximab for relapsed or refractory large B-cell lymphom
  • Pfizer (PFE): U.S. FDA approves Pfizer’s ADCETRIS Combination Regimen for the treatment of Relapsed/Refractory Diffuse Large B-Cell Lymphoma
  • Pitney Bowes (PBI) appoints Bob Gold as CFO, effective March 10
  • Redfin (RDFN) details Content License Agreement and Partnership Agreement with Zillow (ZG)
  • Red Robin Gourmet (RRGB) announced the departure of Kevin Mayer, the Company’s Chief Marketing Officer, effective February 11, 2025
  • Roche Hldg (RHHBY): Genentech announces that the U.S. FDA has approved a New Drug Application for an Evrysdi tablet for people living with spinal muscular atrophy
  • Rocket Lab USA (RKLB) announced it has delivered another Pioneer spacecraft for Varda Space Industries to Vandenberg Space Force Base in preparation for launch
  • Royalty Pharma (RPRX) has entered into an agreement with Biogen (BIIB) to provide research and development funding of up to $250 mln for litifilimab, a first-in-class investigational drug candidate in Phase 3 with demonstrated proof-of-concept in both systemic lupus erythematosus and cutaneous lupus erythematosus
  • Spire Global (SPIR) in 8-K filing: there is substantial doubt about the company's ability to continue as a going concern
  • SpringWorks Therapeutics (SWTX) confirms that the FDA has approved GOMEKLI for the treatment of adult and pediatric patients 2 years of age and older with neurofibromatosis type 1 who have symptomatic plexiform neurofibromas
  • Super Micro Computer (SMCI) delays 10-Q filing; in late 2024, received subpoenas from DOJ and SEC requesting documents following short seller report; SMCI is cooperating with these document requests
  • T. Rowe Price (TROW) reports preliminary month-end assets under management of $1.65 trillion as of January 31, 2025; Preliminary net outflows for January 2025 were $2.1 billion
  • Telecom Argentina (TEO) was notified of a complaint filed in National First Instance Court proceedings
  • TruBridge (TBRG) announces its selection as a preferred partner to Cibolo Health, a healthcare services company focused on financial optimization of independent rural hospitals and medical practices
  • UroGen Pharma (URGN): Data from a long-term follow-up study to the OLYMPUS trial that shows a median duration of response of nearly four years in patients achieving complete response with JELMYTO Published in The Journal of Urology
  • Valens Semiconductor (VLN) adopts a share repurchase program of up to $15 million
  • Verint Systems (VRNT) expands its Global Innovation Center in Bangalore, India, marking a significant milestone in Verint’s commitment to innovation and growth
  • Victory Capital (VCTR) reports total assets under management of $176.5 billion, other assets of $4.0 billion, and total client assets of $180.5 billion, as of January 31, 2025
  • World Acceptance (WRLD) approved a share repurchase program authorizing the Company to repurchase up to $25.0 million of its outstanding common stock
  • Zillow (ZG) and Redfin (RDFN) partner to make apartment hunting easier and give listings more exposure

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

• Upgrades:
  • Compass Minerals (CMP) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $15
  • CRISPR Therapeutics (CRSP) upgraded to Hold from Sell at TD Cowen; tgt $35
  • Mercury General (MCY) upgraded to Strong Buy from Outperform at Raymond James; tgt raised to $80
  • Upstart (UPST) upgraded to Buy from Neutral at B. Riley Securities; tgt raised to $105
  • Upstart (UPST) upgraded to Neutral from Underweight at JP Morgan; tgt raised to $79
• Downgrades:
  • Axcelis Tech (ACLS) downgraded to Mkt Perform from Outperform at William Blair
  • Fluence (FLNC) downgraded to Peer Perform from Outperform at Wolfe Research
  • Fluence (FLNC) downgraded to Neutral from Buy at ROTH MKM; tgt lowered to $6.50
  • Fluence (FLNC) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $7
  • Fluence (FLNC) downgraded to Neutral from Buy at UBS; tgt lowered to $8
  • On (ONON) downgraded to Neutral from Buy at Goldman; tgt $57
  • PPG Industries (PPG) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $115
  • STAAR Surgical (STAA) downgraded to Mkt Perform from Outperform at William Blair
  • STAAR Surgical (STAA) downgraded to Neutral from Buy at BTIG Research
  • STAAR Surgical (STAA) downgraded to Neutral from Outperform at Mizuho; tgt lowered to $17
  • Tempus AI (TEM) downgraded to Mkt Perform from Outperform at William Blair
  • Third Harmonic Bio (THRD) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $5
• Others:
  • AstraZeneca (AZN) initiated with an Overweight at Morgan Stanley
  • Blaize Holdings (BZAI) initiated with a Buy at DA Davidson; tgt $10
  • CleanSpark (CLSK) initiated with a Buy at Needham; tgt $20
  • Exodus Movement (EXOD) initiated with a Buy at Compass Point; tgt $70
  • GlaxoSmithKline (GSK) initiated with an Equal-Weight at Morgan Stanley
  • Lucid Group (LCID) initiated with a Buy at The Benchmark Company; tgt $5
  • Novartis AG (NVS) initiated with an Underweight at Morgan Stanley
  • Novo Nordisk A/S (NVO) initiated with an Equal-Weight at Morgan Stanley
  • Ralph Lauren (RL) initiated with a Buy at Needham; tgt $310
  • Rapid Micro Biosystems (RPID) initiated with an Overweight at KeyBanc Capital Markets; tgt $8
  • Roche Hldg (RHHBY) initiated with an Equal-Weight at Morgan Stanley
  • Tesla (TSLA) initiated with a Buy at The Benchmark Company; tgt $475
  • V.F. Corp (VFC) initiated with a Buy at Needham; tgt $28

• Econ Data (Thursday):
  • 8:30 ET: January PPI (Briefing.com consensus 0.2%; prior 0.2%), January Core PPI (Briefing.com consensus 0.3%; prior 0.0%), weekly Initial Claims (Briefing.com consensus 217,000; prior 219,000), and Continuing Claims (prior 1.886 mln)
  • 10:30 ET: Weekly natural gas inventories (prior -174 bcf)
• Treasury Auctions:
  • 13:00 ET: $25 bln 30-yr Treasury bond auction results
• Earnings:
  • Monday (Feb 10)
    • Pre-Market: CNA EPC HAIN INCY MCD MNDY ON ROK ROIV TSEM
    • After-Hours: AMKR ACGL ARWR ALAB ACLS BTG NTB BRX CINF CMCO CMP CXW COTY FLNC HLIT INSP KRC LSCC MEDP MITK SSD SPSC VRTX VNO WTS
  • Tuesday (Feb 11)
    • Pre-Market: ARVN AN BP CG CARR KO CURB DD ECL FIS GFS HUM IPGP LCII LDOS MAR MAS NNN SPGI SHOP SWI SUN TPG WCC KLG
    • After-Hours: AKR ADPT ADC ALSN AIG AIZ BL BHF BN CFLT DIOD DASH EW ET ECG EXEL FRSH GILD HIW IAC LYFT MIR MRC OS PBI PRI RRR SAGE ST SMCI TDC UPST WPC WELL ZG
  • Wednesday (Feb 12)
    • Pre-Market: ALKS GOLD BIIB CHEF CME CNDT CVS DENN D EXC AG GNRC HCSG IPG KGC KRNT KHC LAD MLM COOP NI NWE QSR R RDWR SITE SAH SPTN SLVM TMHC THC VRT WAB WAT
      
    • After-Hours: TXG AEIS ALB AM AR APP ASPN ATRC CAMT CWST CSCO CGNX CPA CRBG CRSR CXT CW BROS EQIX EPRT ES FSLY FAF FCPT GXO HUBS IRT MTW MGM MKSI MSA NBR PLMR PAYC PEGA QTWO QS QDEL RPD RDDT RBBN HOOD ROL RGLD STAG SCI TTD TROX TYL UPWK VECO VTR WCN WMB WH
  • Thursday (Feb 13)
    • Pre-Market: AGIO ALNY ATUS AEP HOUS ASC AVNT BPMC CBRE CLBT CEVA CROX CYBR DDOG DE DNOW DTE DUK GEHC GEL GPN GVA HBI HL HRI HTZ HWM H HIMX IRDM IRM KELYA KNF LECO LXP TAP MCO NVMI OGN PGY PBF PAG PCG PHIN PPC PPL SBH STNG SONY SN SLF TRU TNET USFD VNT WD WEN WST YETI ZBRA ZTS
    • After-Hours: AL ABNB AEE AMAT BIO BFAM COIN DVA DXCM DLR DKNG ELME EEFT FRT FROG GDDY HTGC INFA IR KNSL KN LEG MSI NUS PACB PANW PDM PCOR RARE RSG ROKU TSLX TWLO UDMY HCC WYNN YELP
  • Friday (Feb 14)
    • Pre-Market: AEM AMCX AXL CAE ENB ESNT FTS MGA MRNA NMRK POR SXT TRP THS
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike