After Hours Report

The January Consumer Price Index on Wednesday sent some inflation shockwaves through the stock market and Treasury market. Fortunately, there were no aftershocks following today's release of the January Producer Price Index, which wasn't all that pleasing from a headline perspective but still created a sense among market participants that there might not be an inflation shockwave in the PCE Price Index when it is released on February 28.

That sense of things was influenced by month-over-month declines in various components, like airfare and physician care, and it resonated in the Treasury market, which provided clearance for the stock market to continue with yesterday's buy-the-dip efforts.

The stock market did so with conviction, further energized in the afternoon session by the recognition that President Trump's reciprocal tariff plan might not be as economically provocative as feared. To wit, the tariffs won't be applied until April 1 at the earliest, and at that time will be applied on a case-by-case basis. The president also injected a pleasant geopolitical thought with the announcement that he will be seeking a discussion with Xi Jinping and Vladimir Putin in which he will suggest they all cut their defense spending in half and pursue denuclearization.

The 2-yr note yield fell six basis points to 4.31% and the 10-yr note yield dropped 11 basis points, completing a round-trip to 4.53% where it stood just before yesterday's release of the January Consumer Price Index.

The move in the 10-yr note yield would have effectively stolen today's trading show if not for the S&P 500's assault on its record closing high (6118.71). Ultimately, it came up a whisker shy of a new high, yet there was still ample cause for celebration with all 11 S&P 500 sectors ending the day higher.

The materials (+1.7%), consumer discretionary (+1.6%), information technology (+1.5%), and communication services (+1.1%) sectors were today's biggest winners while the utilities (+0.1%) and industrials (+0.1%) sectors brought up the rear.

Individually, MGM Grand (MGM 40.37, +6.00, +17.5%) and Molson Coors (TAP 58.54, +5.09, +9.5%) were the biggest gainers among S&P 500 components, rallying in the wake of their earnings results, yet other big moves were registered outside the S&P 500. Stocks like AppLovin (APP 471.67, +91.35, +24.0%), Crocs (CROX 110.05, +21.22, +23.9%), and Robinhood Markets (HOOD 6380, +7.89, +14.1%) were standouts in that regard.

Dow component Cisco Systems (CSCO 63.84, +1.31, +2.1%) advanced after its earnings report, yet NVIDIA (NVDA 135.29, +4.15, +3.2%) and Apple (AAPL 241.53, +4.66, +2.0%) took the wheel as drivers of the price-weighted average. They were mega-cap leaders along with Tesla (TSLA 355.94, +19.43, +5.8%).

Reflecting today's broad-based rally effort, advancers led decliners by a better than 3-to-1 margin at the NYSE and by a roughly 5-to-2 margin at the Nasdaq; the Russell 2000 climbed 1.2%; the S&P Midcap 400 advanced 0.9%; and the equal-weighted S&P 500 jumped 0.9%.

• Dow Jones Industrial Average: +5.1% YTD
• S&P 500: +4.0% YTD
• Nasdaq Composite: +3.3%
• S&P Midcap 400: +2.6% YTD
• Russell 2000: +2.3% YTD

Reviewing today's economic data:

• The Producer Price Index for final demand increased 0.4% month-over-month (Briefing.com consensus 0.2%) following an upwardly revised 0.5% increase (from 0.2%) in December. Excluding food and energy, the index for final demand increased 0.3% month-over-month (Briefing.com consensus 0.3%) following an upwardly revised 0.4% increase (from 0.0%) in December. On a year-over-year basis, the index for final demand was up 3.5% (3.51% unrounded) versus 3.5% in December (3.46% unrounded). Excluding food and energy, the index for final demand was up 3.6% (3.61% unrounded) versus 3.7% in December (3.75% unrounded).
  • The key takeaway from the report is that the month-over-month readings were less upsetting than the month-over-month readings seen in the CPI report. Also, the year-over-year readings look improved at first blush, yet the revisions moved the December year-over-year readings for PPI and core PPI higher (versus the initial readings), so the improvement in January is from a higher base, meaning it is relative and not absolute. (Sidenote: when the December PPI report was first released, PPI was up 3.3% year-over-year and core PPI was up 3.5%).
• Initial jobless claims for the week ending February 8 decreased by 7,000 to 213,000 (Briefing.com consensus 217,000) while continuing jobless claims for the week ending February 1 decreased by 36,000 to 1.850 million.
  • The key takeaway from the report is the low level of initial jobless claims, which continue to connote an otherwise positive demand outlook on the part of employers who are reluctant to cut staff.

Friday's economic lineup includes:

• 8:30 a.m. ET: January Retail Sales (Briefing.com consensus 0.0%; prior 0.4%) and Retail Sales, Ex-Auto (Briefing.com consensus 0.3%; prior 0.4%)
• 8:30 a.m. ET: January Export Prices (prior 0.3%) and Export Prices, excluding agricultural products (prior 0.3%); Import Prices (prior 0.1%) and Import Prices, excluding fuel (prior 0.1%)
• 9:15 a.m. ET: January Industrial Production (Briefing.com consensus 0.3%; prior 0.9%) and Capacity Utilization (Briefing.com consensus 77.7%; prior 77.6%)
• 10:00 a.m. ET: December Business Inventories (Briefing.com consensus 0.1%; prior 0.1%)

Overseas:

• Europe: DAX +2.1%, FTSE -0.5%, CAC +1.5%
• Asia: Nikkei +1.3%, Hang Seng -0.2%, Shanghai -0.4%

Commodities:

• Crude Oil -0.06 @ 71.31
• Nat Gas +0.06 @ 3.63
• Gold +17.20 @ 2945.30
• Silver -0.02 @ 32.73
• 3Copper +0.07 @ 4.77

After-Hours Spotlight:

• Airbnb (ABNB) beats by $0.15, beats on revs, bookings growth of 12%; guides Q1 revs below consensus, expects stable bookings growth... ABNB up 11.5%
• Applied Materials (AMAT) beats by $0.10, reports revs in-line; guides Q2 EPS in-line, revs in-line... AMAT down 4.5%
• Informatica (INFA) beats by $0.04, misses on revs; guides Q1 revs below consensus; guides FY25 revs below consensus... INFA down 29.5%
• Palo Alto Networks (PANW) beats by $0.03, reports revs in-line; guides AprQ EPS in-line, revs in-line; guides FY25 EPS above consensus, revs in-line... PANW down 3.5%
• Procore Technologies (PCOR) misses by $0.11, beats on revs; guides Q1 revs in-line; guides FY25 revs above consensus... PCOR up 9.2%
• Roku (ROKU) beats by $0.17, beats on revs; guides Q1 revs in-line; guides FY25 revs in-line... ROKU up 10.5%
• Twilio (TWLO) misses by $0.03, reports revs in-line; guides Q1 EPS below consensus, revs below consensus... TWLO down 5.2%

Fair Value for Friday, February 14:

• S&P 500: 6,135
• Nasdaq 100: 22,110
• DJIA: 44,800

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

• Earnings/Guidance (Full Earnings Calendar):
  • 10x Genomics (TXG) misses by $0.10, beats on revs; guides FY25 revs below consensus
  • Advanced Energy (AEIS) beats by $0.20, beats on revs; guides Q1 EPS in-line, revs in-line
  • Albemarle (ALB) misses by $0.40, misses on revs
  • Alnylam Pharma (ALNY) misses by $0.05, beats on revs, provides update
  • Altice USA (ATUS) misses by $0.16, misses on revs
  • American Electric (AEP) misses by $0.01, misses on revs; reaffirms FY25 guidance
  • Antero Midstream (AM) reports EPS in-line, beats on revs; guides FY25 EPS in-line
  • Antero Resources (AR) reports Q4 (Dec) results, revs in-line
  • Anywhere Real Estate (HOUS) misses by $0.28, beats on revs
  • AppLovin (APP) beats by $0.48, beats on revs; guides Q1 revs above consensus
  • Ardmore Shipping (ASC) beats by $0.04, beats on revs
  • Aspen Aerogels (ASPN) beats by $0.05, beats on revs; guides Q1 EPS below consensus, revs below consensus
  • AtriCure (ATRC) misses by $0.13, beats on revs; guides FY25 EPS in-line, revs in-line
  • Avient (AVNT) beats by $0.01, reports revs in-line; guides Q1 EPS in-line; guides FY25 EPS in-line
  • Barclays (BCS) reports Q4 results; provides outlooks and targets for 2025 and 2026
  • British American Tobacco (BTI) reports FY24 results; misses on revs; provides outlook; raises dividend
  • Bruker (BRKR) beats by $0.02, reports revs in-line; guides FY25 EPS above consensus, revs below consensus
  • Casella Waste (CWST) beats by $0.25, beats on revs; guides FY25 revs above consensus
  • CBRE Group (CBRE) beats by $0.09, beats on revs; guides FY25 EPS in-line
  • Cellebrite DI (CLBT) beats by $0.04, beats on revs; guides Q1 revs above consensus; guides FY25 revs above consensus
  • 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
  • Cognex (CGNX) beats by $0.01, beats on revs; guides Q1 revs below consensus
  • Copa Holdings (CPA) beats by $0.21, reports revs in-line
  • Corsair Gaming (CRSR) beats by $0.07, beats on revs; guides FY25 revs in-line
  • Corebridge Financial (CRBG) beats by $0.03
  • Crane NXT (CXT) reports EPS in-line, misses on revs; guides FY25 EPS below consensus; Increases annual dividend by 6%
  • Crocs (CROX) beats by $0.26, beats on revs; guides Q1 EPS and revs below consensus; guides FY25 EPS and revs above consensus; $1 bln increase to its share repurchase authorization
  • Curtiss-Wright (CW) beats by $0.19, beats on revs; guides FY25 EPS above consensus, revs above consensus
  • CyberArk (CYBR) beats by $0.08, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY25 EPS in-line, revs above consensus
  • Datadog (DDOG) beats by $0.06, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY25 EPS below consensus, revs below consensus
  • Deere (DE) beats by $0.08, misses on revs; Reaffirms FY25 net income guidance
  • DNOW Inc. (DNOW) beats by $0.12, beats on revs
  • Duke Energy (DUK) beats by $0.01, misses on revs; guides FY25 EPS in-line
  • Dutch Bros (BROS) beats by $0.05, beats on revs; guides FY25 revs above consensus
  • Equinix (EQIX) misses by $0.20, reports revs in-line; guides Q1 revs below consensus; guides FY25 FFO below consensus, revs below consensus; increases dividend 10%
  • Essential Properties Realty Trust (EPRT) misses by $0.04, beats on revs; guides FY25 FFO below consensus
  • 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
  • Freddie Mac (FMCC) reports Q4 results
  • Galapagos NV (GLPG) reports FY24 results; Also announces plans to separate into two publicly traded entities
  • GE HealthCare (GEHC) beats by $0.18, reports revs in-line; guides FY25 EPS in-line
  • Global Payments (GPN) misses by $0.01, beats on revs; Enters into $250 mln accelerated share repurchase program
  • Granite Constr (GVA) beats by $0.02, misses on revs; guides FY25 revs in-line
  • GXO Logistics (GXO) beats by $0.06, beats on revs; guides FY25 EPS below consensus
  • Hanesbrands (HBI) beats by $0.03, misses on revs; CEO to depart company at end of 2025 or when successor is appointed
  • Herc Holdings (HERC) misses by $0.30, beats on revs
  • Hertz Global (HTZ) misses by $0.49, misses on revs
  • Himax Tech (HIMX) beats by $0.04, beats on revs; guides Q1 EPS in-line, revs above two analyst estimate
  • HomesToLife (HTLM) forecasts new subsidiary expected to produce 2025 revenue of $12-14 mln
  • Honda Motor (HMC) reports nine-month results; sees FY25 revs slightly above consensus
  • Howmet Aerospace (HWM) beats by $0.05, reports revs in-line; guides Q1 EPS above consensus, revs above consensus; guides FY25 EPS in-line, revs in-line; raises div
  • HubSpot (HUBS) beats by $0.13, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS in-line, revs in-line
  • Hyatt Hotels (H) misses by $0.34
  • IDEAYA Biosciences (IDYA) misses by $0.86, beats on revs
  • Independence Realty Trust (IRT) reports FFO in-line, misses on revs
  • iRadimed (IRMD) announces Q4 results; increases its regular quarterly cash dividend to $0.17 per share from $0.15 per share
  • Iridium Communications (IRDM) beats by $0.15, beats on revs
  • Iron Mountain (IRM) beats by $0.03, misses on revs; guides FY25 FFO in-line, revs in-line; increases dividend 10%
  • Kadant (KAI) beats by $0.17, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus
  • Kelly Services (KELYA) beats by $0.34, beats on revs; provides H1 2025 guidance
  • Kinross Gold (KGC) misses by $0.04
  • LXP Industrial Trust (LXP) reports FFO in-line, beats on revs; guides FY25 FFO in-line
  • Manitowoc (MTW) misses by $0.02, reports revs in-line; guides FY25 EPS in-line, revs in-line
  • MGM Resorts (MGM) beats by $0.13, beats on revs; provides FY25 guidance
  • MKS Instruments (MKSI) beats by $0.20, beats on revs; guides Q1 EPS in-line, revs in-line
  • Molson Coors Brewing (TAP) beats by $0.17, beats on revs; Sees low-single-digit net sales growth on constant currency basis for FY25
  • Moody's (MCO) reports EPS in-line, misses on revs; guides FY25 EPS above consensus; increases dividend 11%
  • MSA Safety (MSA) beats by $0.01, misses on revs
  • Nabors Industries (NBR) misses by $5.07, reports revs in-line
  • Navios Maritime Partners (NMM) misses by $0.10, beats on revs
  • Nestle (NSRGY) reports FY24 results; FY25 outlook reaffirmed; proposes dividend raise
  • Northern Oil & Gas (NOG) provides Q4 update; provides FY25 guidance; signs $40 mln bolt-on acquisition
  • NorthWestern (NWE) reports EPS in-line; raises dividend
  • Organon (OGN) beats by $0.03, reports revs in-line; guides FY25 revs below consensus
  • Palomar Holdings (PLMR) beats by $0.29, gross written premiums increased 23.3%
  • Paycom Software (PAYC) beats by $0.35, beats on revs; guides FY25 revs below consensus
  • Pegasystems (PEGA) beats by $0.14, beats on revs; guides FY25 EPS below consensus, revs above consensus
  • Penske Auto (PAG) beats by $0.24, beats on revs; raises dividend
  • PG&E (PCG) reports EPS in-line; raises FY25 EPS guidance
  • PHINIA (PHIN) misses by $0.16, beats on revs; guides FY25 revs in-line; increases dividend 8% and buyback authorization by $200 mln
  • Pilgrim's Pride (PPC) beats by $0.20, misses on revs
  • PPL Corp (PPL) misses by $0.03, misses on revs; guides FY25 EPS in-line; increases planned infrastructure investments to $20 bln from 2025-28, also increases dividend
  • Q2 Holdings (QTWO) reports Q4 (Dec) results, beats on revs; guides Q1 revs in-line; guides FY25 revs in-line
  • QuantumScape Corporation (QS) beats by $0.02, no revs
  • QuidelOrtho (QDEL) beats by $0.04, beats on revs; guides FY25 EPS in-line, revs in-line
  • 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
  • Reddit (RDDT) beats by $0.11, beats on revs, DAUq increased 39%; guides Q1 revs above consensus
  • Ribbon Communications (RBBN) beats by $0.04, beats on revs; guides Q1 revs in-line; guides FY25 revs in-line
  • Robinhood Markets (HOOD) reports Q4 (Dec) results, beats on revs
  • Rollins (ROL) misses by $0.01, beats on revs
  • Royal Gold (RGLD) beats by $0.15, beats on revs
  • Sally Beauty (SBH) reports EPS in-line, revs in-line
  • Scorpio Tankers (STNG) beats by $0.06, reports revs in-line
  • Service Corp (SCI) beats by $0.01, reports revs in-line; guides FY25 EPS in-line
  • SharkNinja (SN) beats by $0.13, beats on revs; guides FY25 EPS in-line, revs above consensus
  • Siemens (SIEGY) reports Q1 results; revs rise 3% yr/yr; reaffirms FY25 outlook
  • Sony (SONY) beats by JPY15.97, reports revs in-line
  • STAG Industrial (STAG) beats by $0.01, beats on revs
  • Sun Life (SLF) beats by $0.45
  • The Trade Desk (TTD) beats by $0.02, misses on revs; guides Q1 revs below consensus
  • TransUnion (TRU) beats by $0.01, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus; authorizes share repurchase up to $500 mln
  • TriNet Group (TNET) beats by $0.19; guides FY25 EPS below consensus
  • Tronox (TROX) misses by $0.01, misses on revs; guides FY25 revs in-line
  • Tyler Tech (TYL) reports EPS in-line, revs in-line; guides FY25 EPS above consensus, revs below consensus
  • Unilever PLC beats (UL) on top and bottom lines; provides outlook; raises dividend
  • Upwork (UPWK) beats by $0.05, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY25 EPS below consensus, revs in-line
  • US Foods (USFD) beats by $0.04, reports revs in-line; guides FY25 EPS in-line, revs in-line
  • Veeco Instruments (VECO) beats by $0.01, beats on revs; guides Q1 EPS below consensus, revs in-line
  • VinFast Auto (VFS) delivered 53,139 electric vehicles globally in 4Q24, representing a 143% increase quarter-over-quarter and a 342% increase yr/yr
  • Vontier (VNT) beats by $0.01, beats on revs; guides Q1 EPS in-line, revs below consensus; guides FY25 EPS in-line, revs below consensus
  • Walker & Dunlop (WD) beats by $0.09, beats on revs; increases dividend 3%
  • Waste Connections (WCN) misses by $0.04, reports revs in-line; guides FY25 revs in-line
  • Wendy's (WEN) beats by $0.01, beats on revs, comps +4.3%; guides FY25 EPS below consensus; to lower its dividend starting in Q2; to repurchase up to $200 mln of its shares in 2025
  • West Pharm (WST) beats by $0.10, beats on revs; guides FY25 EPS below consensus, revs below consensus
  • Wyndham Hotels & Resorts (WH)beats by $0.05, reports revs in-line; guides FY25 EPS in-line
  • YETI Holdings (YETI) beats by $0.07, misses on revs; guides FY25 EPS above consensus; increases buyback autjorization by $350 mln
  • Zebra Tech (ZBRA) beats by $0.06, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY25 EPS below consensus, revs below consensus
  • Zoetis (ZTS) beats by $0.04, reports revs in-line; guides FY25 EPS below consensus, revs below consensus
• General News
  • President Trump confirms on Truth Social that reciprocal tariffs will be announced today
  • US intelligence believes Israel is considering significant strikes on Iranian nuclear sites, according to the Wall Street Journal
  • Federal judge rules that President Trump's deferred resignation program for federal workers can proceed, according to the New York Times
  • Elon Musk says that some government agencies should be closed, according to CNBC
  • Hamas to release additional hostages as planned which could resolve ceasefire dispute. Israel and President Trump threatened to continue offensive if hostages were not released, according to AP
  • President Trump will announce reciprocal tariffs today, but they will likely not go into effect until April; there will be some exemptions; USTR will provide key details at later date - CNBC
  • Senate votes to confirm RFK Jr. as HHS Secretary, as widely expected; he will be sworn in at the White House later today
  • 75,000 federal workers have accepted buyout terms from the Trump administration, according to Reuters
  • President Trump signs presidential memorandum on reciprocal tariffs; will match tariff rates of other countries; value added taxes and non-tariff barriers will also be considered when deciding tariff rate; Commerce Secretary Hoard Lutnick will announce all the specific rates - CNBC
  • President Trump says tariffs could take effect in a matter of weeks or a few months - CNBC
  • Incoming Commerce Secretary Howard Lutnick says he hopes all the tariff rates will be in place by April 1; says this reciprocal tariff plan replaces the universal tariff plan that was talked about during the campaign - CNBC
  • President Trump says TikTok deadline could be extended - CNBC
  • President Trump wants to change terms of CHIPS Act signed by former President Biden, according to Reuters (this will require congressional approval)
  • Adeia Inc. (ADEA) renews its intellectual property license agreement with LG U+, one of South Korea's leading IPTV service providers
  • AeroVironment (AVAV) announces the establishment of FreedomWerx, a state-of-the-art advanced manufacturing facility in Salt Lake City, Utah
  • Agios Pharma (AGIO) announces that the ACTIVATE-Kids Phase 3 study of mitapivat in children aged 1 to <18 years with PK deficiency who are not regularly transfused achieved its primary endpoint of hemoglobin response
  • Air Transport Services Group (ATSG) and GA Telesis announce new agreement with GE Aerospace (GE) On-Wing Support in Florence to provide on-wing maintenance offload services for GE Aerospace CF6 engines, and for CFM56 engines from CFM Internationa
  • AllianceBernstein (AB) announces that preliminary assets under management increased to $809 billion during January 2025 from $792 billion at the end of December
  • American Coastal Insurance Corporation (ACIC) appointed B. Bradford Martz as Chief Executive Officer and President of ACIC
  • Apple (AAPL): German antitrust authority warned Apple about tracking tools, according to Reuters
  • Apple (AAPL): President Trump selects Apple employee Jonathan Morrison to lead NHTSA, according to Reuters
  • Arm Holdings plc (ARM) jumps higher after FT reports Meta (META) buying its new chip
  • Ascendis Pharma (ASND) has authorized the Company to use approximately $25 mln to fund a share repurchase program and net settle certain RSUs
  • Astellas Pharma (ALPMY): U.S. FDA Approves Expanded Label for Astellas' IZERVAY (avacincaptad pegol intravitreal solution) for Geographic Atrophy
  • Baidu (BIDU) Ernie AI chatbot could soon be free, according to Bloomberg
  • Beacon (BECN) issues statement in response to QXO’s (QXO) director nominations
  • Boeing (BA): Avolon is seeing progress at Boeing, according to Reuters
  • Boeing (BA): President Trump says he is "not happy" with service Boeing is providing, according to Bloomberg
  • Boeing (BA): Transportation Secretary Sean Duffy says "I've requested that the Boeing CEO come to D.C. as soon as possible to provide a full accounting of the steps the company is taking to address its quality and safety issues. Following that, I will visit Boeing myself to evaluate firsthand the measures being implemented to ensure its planes meet the highest safety standards."
  • Boeing (BA): Japan orders 17 Boeing CH-47JA block II chinooks
  • BP (BP): Elliott Management's stake in BP could be 5%, according to Financial Times
  • Brunswick (BC) names David Foulkes Chairman
  • CBIZ (CBZ) authorized the continuation of the Company’s Share Repurchase Program
  • Celanese (CE) cuts its quarterly dividend to $0.03 from $0.70; annual yield of 0.2% (in-line with previous planned reduction)
  • CNO Financial (CNO) announces $500 million increase to securities repurchase authorization
  • Corsair Gaming (CRSR) announces the planned retirement of Andy Paul, Founder and Chief Executive Officer, from the company and its board effective July 1, 2025
  • CSL Limited (CSLLY) announces that the European Commission has approved ANDEMBRY (garadacimab), the first and only once-monthly treatment targeting factor XIIa to prevent attacks of hereditary angioedema in adult and adolescent patients aged 12 years and older
  • Diginex Limited (DGNX) has engaged international investor relations specialists Lambert by LLYC and its partner—Hong Kong-based Strategic Public Relations Group Ltd
  • D-Wave (QBTS) Announces On-Premises Systems Offering to Push Boundaries of Quantum-Fueled Research and Advance Quantum + AI Development
  • Evolus (EOLS) announces FDA approval of Evolysse Form and Evolysse Smooth injectable hyaluronic acid gels, the first two products in the Evolysse collection
  • First Majestic Silver (AG) announces 2025 production and cost guidance
  • Hanesbrands (HBI) announces that Steve Bratspies will depart as Chief Executive Officer of the Company at the end of 2025, or upon the appointment of his successor
  • HealthStream (HSTM) announces that its SaaS-based CredentialStream application, along with the CredentialStream Hub and Network by HealthStream, have earned HITRUST r2 Certification
  • Hewlett Packard Enterprise (HPE) announces that it has shipped its first NVIDIA Blackwell family-based solution, the NVIDIA GB200 NVL72
  • HomesToLife (HTLM) forecasts new subsidiary expected to produce 2025 revenue of $12-14 mln
  • Hubbell (HUBB) approves a new share repurchase authorization of up to $500 mln, set to expire in February 2028
  • ICICI Bank (IBN) confirms Prudential (PUK) is evaluating a potential listing of ICICI Prudential Asset Management
  • IDEAYA Biosciences (IDYA) announces further Gilead Sciences (GILD) Clinical study collaboration evaluating combination of Trodelvy and IDE397 in MTAP-deletion NSCLC
  • ImmunityBio (IBRX) announces the Medicines and Healthcare products Regulatory Agency has validated and accepted the marketing authorization application for ANKTIVA
  • Integral Ad Science (IAS) announces new features and increased global availability for its first-to-market Content Block List optimization solution for ads on Facebook and Instagram Feed and Reels
  • Intl Game Tech. PLC (IGT) announced today that its subsidiary, IGT Global Solutions Corporation, signed a nine-year contract extension with the Tennessee Education Lottery
  • Johnson & Johnson (JNJ): New nipocalimab data published in mAbs journal details differentiated molecular design, clinical profile and potential of nipocalimab to treat IgG-driven alloantibody and autoantibody diseases
  • Novartis AG (NVS): FDA granted orphan drug designation for treatment of primary immune thrombocytopenia
  • Papa John's (PZZA) shareholder Irth Capital Management mulling bid to take PZZA private, according to Semafor
  • Paycom Software (PAYC) announces the promotion of Bob Foster to chief financial officer, effective Feb. 21, 2025
  • Payoneer (PAYO) has received the regulatory approvals in China required to complete its previously announced acquisition of a licensed China-based payment service provider
  • Pfizer (PFE) announces positive results from the Phase 3 TALAPRO-2 study of TALZENNA, an oral poly ADP-ribose polymerase inhibitor, in combination with XTANDI, an androgen receptor pathway inhibitor, demonstrating a statistically significant and clinically meaningful improvement in overall survival compared to placebo plus XTANDI in patients with metastatic castration-resistant prostate cancer, with or without homologous recombination repair gene mutations
  • Quanterix: Kent Lake (QTRX) discloses 5.91% active stake - sends letter opposing Akoya Biosciences (AKYA) merger
  • REE Automotive (REE) and Mission Mobile Medical have signed an agreement under which REE will provide vehicles to Mission Mobile Medical which will be used by the latter to make healthcare more accessible to people in historically underserved, rural areas in the United States
  • Rio Tinto (RIO) provides update on Tropical Cyclone Zelia
  • Riot Platforms (RIOT) Announces Changes to Its Board of Directors and Provides Update on Formal Evaluation of AI/HPC Uses
  • Royal Caribbean (RCL) increases quarterly cash dividend 36% to $0.75/share from $0.55/share and announces $1 billion share repurchase program
  • Sable Offshore Corp. (SOC) received letter confirming that certain pipeline repair work on the Las Flores Pipeline System is authorized
  • Sanofi (SNY) and Johnson & Johnson (JNJ) provide update on extraintestinal pathogenic E. coli vaccine phase 3 clinical study; not sufficiently effective at preventing IED
  • Satellogic (SATL) amended sales agreement
  • SEALSQ Corp (LAES) announces that is integrating WISeAI’s decentralized model into its end-to-end quantum platform, creating a secure, transparent, and equitable AI boosted by quantum computin
  • Sprinklr (CXM) announced a new integration with Bluesky for insights and content publishing
  • SunCar Technology Group (SDA) announces the significant expansion of its strategic partnership with one of the world's foremost electric vehicle manufacturers
  • Synopsys (SNPS) expands its hardware-assisted verification portfolio to propel next-generation semiconductor and design innovation
  • Taiwan Semi (TSM) given alternatives by US govt to ensure its presence in the US markets, according to DigiTimes
  • TC BioPharm (TCBP) announces that it has concluded dosing of Cohort A patients in the ACHIEVE Phase 2B UK clinical trial
  • Tempus AI (TEM) announces a new collaboration with the Institute for Follicular Lymphoma Innovation, a global, non-profit, private foundation dedicated to accelerating the development of innovative treatment options for patients with follicular lymphoma
  • Tencent (TCEHY) wins copyright infringement lawsuit, according to Reuters
  • Tesla (TSLA): State Department suspends plan to purchase TSLA armored EVs, according to NY Times
  • The Trade Desk (TTD) approves an additional $564 mln under its share repurchase program; brings total up to $1.0 bln
  • Tractor Supply (TSCO) increases quarterly cash dividend to $0.23 per share, prior $0.22 per share (split adjusted); raises share repurchase authorization by $1 bln
  • V2X (VVX) has been awarded a position on the General Services Administration's One Acquisition Solution for Integrated Services Plus (OASIS+) contract across all eight domains, solidifying its role as a leading provider of integrated mission solutions for the U.S. Government
  • Vale S.A. (VALE) provides Novo Carajás Program update
  • Viavi (VIAV) announces that its NITRO Wireless test portfolio has validated the over-the-air performance of the Nokia (NOK) Massive MIMO radio operating in the upper 6 GHz frequency range, a band that will add crucial capacity to existing cell sites to support 5G-Advanced and 6G networks
  • VinFast Auto (VFS) delivered 53,139 electric vehicles globally in 4Q24, representing a 143% increase quarter-over-quarter and a 342% increase yr/yr
  • Wang & Lee Group (WLGS) entered strategic ESG partnership with Jinshan Hi-Tech Group for waste treatment solutions
  • Western Digital (WDC) Unveiled Go-Forward Strategy at Investor Day 2025
  • Wipro (WIT) and Venuu partner to bridge the gap between providers and payers by transforming the payment process with an AI-powered instant payments platform
  • Xencor (XNCR) discloses select financial statements should no longer be relied upon

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

• Upgrades:
  • AT&T (T) upgraded to Outperform from Neutral at Exane BNP Paribas; tgt $28.50
  • Casey's General (CASY) upgraded to Buy from Hold at Gordon Haskett
  • Cisco (CSCO) upgraded to Buy from Neutral at Rosenblatt; tgt raised to $80
  • Coca-Cola (KO) upgraded to Buy from Hold at DZ Bank; tgt $75
  • CVS Health (CVS) upgraded to Outperform from Market Perform at Leerink Partners; tgt raised to $75
  • Genmab (GMAB) upgraded to Outperform from Market Perform at Leerink Partners; tgt $27
  • Gilead Sciences (GILD) upgraded to Buy from Hold at DZ Bank; tgt $108
  • Manhattan Assoc (MANH) upgraded to Outperform from Mkt Perform at William Blair
  • STMicroelectronics (STM) upgraded to Equal-Weight from Underweight at Morgan Stanley
• Downgrades:
  • 10x Genomics (TXG) downgraded to Market Perform from Outperform at Leerink Partners; tgt lowered to $12
  • Aspen Aerogels (ASPN) downgraded to Neutral from Buy at Seaport Research Partners
  • Fluence (FLNC) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $8
  • General Dynamics (GD) downgraded to Neutral from Buy at BTIG Research
  • Kraft Heinz (KHC) double downgraded to Underperform from Buy at BofA Securities; tgt lowered to $30
  • Kraft Heinz (KHC) downgraded to Neutral from Buy at Citigroup; tgt lowered to $28
  • Macy's (M) downgraded to Accumulate from Buy at Gordon Haskett
  • Olin (OLN) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $33
  • The Trade Desk (TTD) downgraded to In-line from Outperform at Evercore ISI; tgt lowered to $90
• Others:
  • Amer Sports re-initiated with an Outperform at Bernstein; tgt $38
  • Fortis (FTS) initiated with a Hold at Jefferies
  • GE Vernova (GEV) initiated with an Outperform at Robert W. Baird; tgt $448
  • GH Research PLC (GHRS) initiated with an Overweight at Cantor Fitzgerald; tgt $14
  • Lemaitre Vascular (LMAT) initiated with an Equal Weight at Wells Fargo; tgt $95

• Econ Data (Friday):
  • 8:30 ET: January Retail Sales (Briefing.com consensus 0.0%; prior 0.4%), Retail Sales ex-auto (Briefing.com consensus 0.3%; prior 0.4%), and January Export Prices (prior 0.3%), Export Prices ex-agriculture (prior 0.3%), Import Prices (prior 0.1%), and Import Prices ex-oil (prior 0.1%)
  • 9:15 ET: January Industrial Production (Briefing.com consensus 0.3%; prior 0.9%) and Capacity Utilization (Briefing.com consensus 77.7%; prior 77.6%)
  • 10:00 ET: December Business Inventories (Briefing.com consensus 0.1%; prior 0.1%)
• 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