After Hours Report

Today's session started out similar to yesterday's session. That is, the major indices traded in lackluster fashion around their prior closing levels. The session also ended similar to yesterday's session, with the S&P 500 at a new record high.

The limited action in the early going was rooted in profit-taking activity, but stocks showed nice resilience to selling interest, which became its own upside catalyst by the close.

Strength in the mega cap and semiconductor spaces played an integral role in index gains. The PHLX Semiconductor Index (SOX) jumped 1.2%, and Microsoft (MSFT 414.77, +5.13, +1.3%), Apple (AAPL 244.87, +0.40, +0.2%), Alphabet (GOOG 187.13, +1.33, +0.7%), and Tesla (TSLA 360.56, +6.45, +1.8%) registered gains.

Outsized moves in either direction were mostly limited to companies that reported quarterly results. Occidental Petroleum (OXY 50.99, +2.15, +4.4%) and Devon Energy (DVN 37.57, +2.69, +7.7%) were standouts in that regard, boosting the energy sector (+0.7%). 

On the flip side, Celanese (CE 54.91, -15.00, -21.5%) and Toll Brothers (TOL 114.88, -7.17, -5.9%) logged big gains in response to disappointing results.

Market participants were digesting more talk about tariffs, but took it in stride due to a view that tariffs are more of a bargaining chip than a permanent feature. President Trump said the auto tariff rate will be in the neighborhood of 25% starting April 2, and that he is also considering tariffs for pharmaceuticals and semiconductors.

The market also received the Minutes from the January 28-29 FOMC meeting, which didn't contain any surprises. 

The 10-yr yield settled one basis point lower at 4.54% and the 2-yr yield settled three basis points lower at 4.27%. 

• Dow Jones Industrial Average: +4.9% YTD
• S&P 500: +4.5% YTD
• Nasdaq Composite: +3.9%
• S&P Midcap 400: +2.8% YTD
• Russell 2000: +2.4% YTD

Reviewing today's economic data:

• January housing starts declined 9.8% month-over-month to a seasonally adjusted annual rate of 1.366 million (Briefing.com consensus 1.400 million) from an upwardly revised 1.515 million (from 1.499 million) in December. Building permits rose 0.1% to a seasonally adjusted annual rate of 1.483 million (Briefing.com consensus 1.450 million) from a downwardly revised 1.482 million (from 1.483 million) in December.
  • The key takeaway from the report is that there was no growth in starts or permits for single-family housing units, which will contribute to ongoing affordability constraints in the existing home market, which is short on inventory. Single-unit starts were down 8.4% month-over-month while single-unit permits were flat.
• The weekly MBA Mortgage Index was down 6.6% after increasing 2.3% a week ago. The Purchase Index was down 5.9% while the Refinance Index fell 7.3%.

Looking ahead to Thursday, market participants receive the following data:

• 8:30 ET: February Philadelphia Fed Survey (Briefing.com consensus 20.5; prior 44.3), weekly Initial Claims (Briefing.com consensus 217,000; prior 213,000), and Continuing Claims (prior 1.850 mln)
• 10:30 ET: Weekly natural gas inventories (prior -100 bcf)
• 11:00 ET: Weekly natural gas inventories (prior +4.07 mln)

Overseas:

• Europe: DAX -1.8%, FTSE -0.6%, CAC -1.2%
• Asia: Nikkei -0.3%, Hang Seng -0.1%, Shanghai +0.8%

Commodities:

• Crude Oil +0.26 @ 72.07
• Nat Gas +0.27 @ 4.28
• Gold -14.70 @ 2935.40
• Silver -0.30 @ 33.07
• 3Copper -0.02 @ 4.56

After-Hours Spotlight:

• Carvana (CVNA) beats by $0.25, beats on revs; expects significant growth in retail units sold and adjusted EBITDA in FY25; files for Class A common stock offering... CVNA down 10.9%
• Clearwater Analytics (CWAN) beats by $0.02, beats on revs; guides Q1 revs above consensus; guides FY25 revs above consensus... CWAN up 12.8%
• Herbalife Nutrition (HLF) beats by $0.17, beats on revs; guides Q1 revs below consensus; guides FY25 revs in-line; names new CEO... HLF up 14.7%
• NerdWallet (NRDS) beats by $0.50, beats on revs; guides Q1 revs above consensus; names new CFO... NRDS up 5.2%
• Remitly Global (RELY) reports Q4 (Dec) results, beats on revs; guides Q1 revs in-line; guides FY25 revs above consensus... RELY up 6.2%
• Vimeo (VMEO) misses by $0.02, beats on revs; guides Q1 revs in-line... VMEO down 9.9%

Fair Value for Thursday, February 20:

• S&P 500: 6,163
• Nasdaq 100: 22,247
• DJIA: 44,728

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

• Earnings/Guidance (Full Earnings Calendar):
  • Alamos Gold (AGI) Reports Mineral Reserves and Resources for the Year-Ended 2024
  • Altria (MO) reaffirms FY25 EPS guidance ahead of investor conference
  • Amicus Therapeutics (FOLD) beats by $0.08, beats on revs; guides FY25 revs in-line
  • Analog Devices (ADI) beats by $0.09, beats on revs; guides Q2 EPS in-line, revs in-line; raised dividend; increased share repurchase authorization
  • Andersons (ANDE) beats by $0.39, beats on revs
  • APi Group (APG) sees FY24 revs above consensus; guides FY25 revs in-line
  • Appian (APPN) beats by $0.01, beats on revs; guides Q1 EPS above consensus, revs below consensus; guides FY25 EPS above consensus, revs in-line
  • Arista Networks (ANET) beats by $0.08, beats on revs; guides Q1 revs above consensus
  • Bausch + Lomb (BLCO) beats by $0.02, beats on revs; guides FY25 revs in-line
  • Bumble Inc. (BMBL) reports EPS in-line, revs in-line; guides Q1 revs below consensus
  • Cadence Design (CDNS) beats by $0.06, reports revs in-line; guides FY25 EPS below consensus, revs below consensus
  • Caleres (CAL) also announced it expects to report consolidated net sales and earnings per diluted share in line with its most recent guidance
  • Capri Holdings (CPRI) provides revenue guidance for FY25 and beyond ahead of conference
  • Celanese (CE) beats by $0.25, reports revs in-line
  • Charles River (CRL) beats by $0.13, beats on revs; guides FY25 EPS below consensus, revs below consensus
  • Cinemark (CNK) misses by $0.05, beats on revs; reinstates dividend
  • Clarivate (CLVT) beats by $0.01, reports revs in-line; guides FY25 EPS below consensus, revs below consensus; Also announces that it has initiated the exploration of strategic alternatives including potential divestitures
  • Clean Harbors (CLH) beats by $0.19, reports revs in-line; Provides adjusted EBITDA and free cash flow guidance
  • Community Health (CYH) misses by $0.50, beats on revs
  • Comstock (CRK) beats by $0.14, beats on revs
  • CoStar Group (CSGP) reports Q4 (Dec) results, beats on revs; guides Q1 revs below consensus; guides FY25 revs below consensus
  • CVR Energy (CVI) beats by $0.50, beats on revs
  • Devon Energy (DVN) beats by $0.16, beats on revs; Issues Q1 and FY25 guidance
  • Element Solutions (ESI) reports EPS in-line, beats on revs
  • Enlight Renewable Energy Ltd. (ENLT) reports Q4 results, beats on revs; guides FY25 revs above consensus
  • EQT Corp. (EQT) beats by $0.16, beats on revs
  • Etsy (ETSY) beats by $0.11, misses on revs
  • Fiverr (FVRR) misses by $0.04, beats on revs; guides Q1 revs above consensus; guides FY25 revs above consensus
  • Flowserve (FLS) misses by $0.07, misses on revs; guides FY25 EPS in-line, revs slightly below consensus
  • Garmin (GRMN) beats by $0.36, beats on revs; guides FY25 EPS above consensus, revs above consensus; intends to raise dividend
  • Gentherm (THRM) misses by $0.39, misses on revs; guides FY25 revs below consensus
  • Gibraltar Industries (ROCK) beats by $0.10, misses on revs; guides FY25 EPS above consensus, revs above consensus; acquires Lane Supply
  • Gildan Activewear (GIL) beats by $0.02, beats on revs; guides FY25 EPS in-line; Increases quarterly dividend by 10% to $0.226/share and announces CFO transition
  • Global-E Online (GLBE) beats by $0.01, beats on revs; guides Q1 revs below consensus; guides FY25 revs below consensus
  • Halozyme Therapeutics (HALO) beats by $0.13, beats on revs; reaffirms FY25 EPS guidance, revs guidance
  • Harmony Biosciences (HRMY) also reaffirms FY25 revenue guidance
  • Healthcare Realty (HR) beats by $0.01, beats on revs; guides FY25 FFO in-line
  • HealthEquity (HQY) reports year-end sales metrics; affirms guidance for fiscal 2025 and 2026
  • HSBC Holdings (HSBC) reports Q4 results; provides outlook
  • Hudbay Minerals (HBM) misses by $0.02, reports revs in-line
  • Ingevity (NGVT) beats by $0.64, misses on revs; guides FY25 revs in-line
  • Innospec (IOSP) beats by $0.05, beats on revs
  • Intl Flavors (IFF) beats by $0.16, beats on revs; guides FY25 revs below consensus
  • Ionis Pharma (IONS) beats on EPS and revs, guides for FY25 revs; provides update
  • James Hardie (JHX) beats by $0.01, misses on revs; provides FY25 guidance
  • Jones Lang LaSalle (JLL) beats by $0.14, beats on revs
  • Kontoor Brands (KTB) sees Q4 EPS and revs above consensus
  • Krystal Biotech (KRYS) beats by $0.23, misses on revs
  • La-Z-Boy (LZB) beats by $0.01, beats on revs; guides AprQ revs below consensus
  • Lam Research (LRCX) releases today's Investor Day presentation - Target model for CY2028 included revs of $25-27 bln, gross margin about 50%, op margin 34-35%, EPS $6.00-7.00, and FCF about 30%
  • Liberty Global (LBTYA) reports Q4 results; announcing a further buyback program of up to 10% of shares outstanding in 2025
  • Louisiana-Pacific (LPX) beats by $0.17, beats on revs
  • Magnolia Oil & Gas (MGY) misses by $0.02, reports revs in-line; increases buyback
  • Matador Resources (MTDR) beats by $0.09, misses on revs, provides outlook
  • Materion (MTRN) beats by $0.10, reports revs in-line; guides FY25 EPS below consensus
  • MFA Financial (MFA) reports Q4 results
  • Occidental Petro (OXY) beats by $0.12, misses on revs; quarterly dividend increased by 9%
  • OGE Energy (OGE) beats by $0.01, beats on revs; guides FY25 EPS in-line
  • OneSpaWorld (OSW) misses by $0.01, beats on revs; guides Q1 revs below consensus; guides FY25 revs in-line
  • Penumbra (PEN) beats by $0.07, beats on revs; reaffirms FY25 revs guidance
  • Perdoceo Education (PRDO) beats by $0.05, beats on revs; guides Q1 EPS above estimate; guides FY25 EPS above estimate
  • Philips (PHG) misses by €0.02, reports revs in-line
  • Philip Morris International (PM) reaffirms FY25 guidance ahead of conference
  • PROG Holdings (PRG) beats by $0.03, beats on revs; guides FY25 EPS below consensus, revs below consensus
  • ProPetro (PUMP) misses by $0.17, misses on revs
  • RB Global (RBA) beats by $0.16, beats on revs
  • Rio Tinto (RIO) reports FY24 results; provides production data; announces board changes; provides FY25 guidance
  • Rush Enterprises (RUSHA) beats by $0.08, beats on revs
  • Select Water Solutions (WTTR) misses by $0.10, beats on revs
  • Shift4 Payments (FOUR) beats by $0.21, reports revs in-line; guides FY25 revs below consensus
  • Sibanye-Stillwater (SBSW) reported trading update for the year ended December 31, 2024
  • SolarEdge Technologies (SEDG) misses by $2.02, beats on revs; guides Q1 revs in-line
  • Sonoco Products (SON) misses by $0.03, reports revs in-line; guides FY25 EPS in-line
  • Stellantis (STLA) opens 2025 by confirming its second position among OEMs, with the same market share recorded in the 2024 final report
  • Stepan Company (SCL) misses by $0.21, reports revs in-line
  • Ternium S.A. (TX) misses by $1.09, misses on revs; Expects a slight sequential increase in adjusted EBITDA in 1Q25
  • Toll Brothers (TOL) misses by $0.29, misses on revs; Reaffirms FY25 deliveries and adjusted home sales gross margin guidance
  • Travel + Leisure Co (TNL) beats by $0.09, beats on revs
  • Trimble (TRMB) beats by $0.01, beats on revs; guides Q1 EPS in-line; guides FY25 EPS in-line; announces buyback
  • Unisys (UIS) beats by $0.11, reports revs in-line; provides FY25 guidance
  • Wheaton Precious Metals (WPM) exceeds FY24 production guidance; provides FY25 and Long-term outlook
  • Wingstop (WING) beats by $0.06, misses on revs
  • Wix.com (WIX) beats by $0.51, reports revs in-line; guides Q1 revs below consensus; guides FY25 revs below consensus
  • Wolverine (WWW) reports EPS in-line, beats on revs; guides FY25 EPS below consensus, revs below consensus
  • XP (XP) beats by BRL 0.03, reports revs in-line
• General News
  • President Trump at press conference says that auto tariff rate will be "in the neighborhood" of 25%, but won't start until April 2; also considering tariffs on pharma products
  • President Trump signs executive order to ensure accountability for all federal agencies
  • Treasury Secretary Scott Bessent in interview says "very little" of tariff cost will be passed onto consumers because of US dollar gains. Department of Government Efficiency saved taxpayers $50 bln so far (cuts will require congressional approval), according to Fox News
  • Federal judge declined request to block Department of Government Efficiency from accessing governmental agencies, according to the New York Times
  • Secretary of State Marco Rubio says Russia sanctions will remain in place until peace deal is reached, according to Bloomberg
  • Howard Lutnick confirmed as Secretary of Commerce by a vote of 51-45 (4 Senators did not vote)
  • President Trump endorses House plan for one large reconciliation bill (includes tax cuts, spending cuts, defense, immigration, energy, debt ceiling increase) instead of two track approach Senate is developing
  • DeepSeek mulling raising funds for first time, according to The Information
  • President Trump to work on wide ranging trade deal with China, which will include China increasing purchases of US goods and nuclear weapons security, according to NY Times
  • House Majority Leader Steve Scalise tells PunchBowl News that House will vote on budget resolution for reconciliation bill next week
  • President Trump plans to end New York City congestion pricing, according to NY Post
  • Social media site, X could raise funds at a $44 bln valuation, according to Bloomberg
  • U.S. Department of Transportation confirms it terminates tolling approval for New York City’s cordon pricing program
  • Air Lease (AL) announces long-term lease agreements with Qanot Sharq Airlines for five new Airbus (EADSY) A321neo aircraft, including three A321-200neo XLRs and two A321-200neo LRs
  • Alphabet (GOOG) is launching a new AI system for scientists
  • Amazon (AMZN) retail CEO Doug Herrington discussed cost reductions and new investments during internal meeting, according to Business Insider
  • Amazon (AMZN) announces it decided to end support for the Amazon Chime service, including Business Calling features, effective February 20, 2026
  • Analog Devices (ADI) increases quarterly dividend; raises share repurchase by $10 bln
  • AngloGold Ashanti (AU) announces new dividend policy
  • Appian (APPN) launching higher after posting beat-and-raise Q4 earnings report; Developer of low-code software for business processes says that its "AI-agnostic" and stands to benefit if DeepSeek or another developer commoditizes AI and makes it cheaper
  • Apple (AAPL) debuts iPhone 16e: A powerful new member of the iPhone 16 family
  • Bank First Corporation (BFC) renewed its share repurchase program - may repurchase up to $50 million of its common stock for a period of one (1) year, ending on February 17, 2026
  • Barrick (GOLD) agrees to end Mali mining dispute, according to Reuters
  • Bayer (BAYRY) unit receives FDA Regenerative Medicine Advanced Therapy designation for Parkinson’s disease investigational gene therapy
  • BGC Group (BGC): Howard Lutnick confirmed as Secretary of Commerce; steps down as BGC Group Chairman and CEO; Stephen Merkel named Chairman; John Abularrage, JP Aubin, and Sean Windeatt appointed Co-CEOs
  • Boeing (BA): President Trump upset about Boeing's (BA) delays for new Air Force One jets and he asked Elon Musk to figure out what is going on, according to NY Times
  • Braskem SA (BAK) established a partnership with Aegea Saneamento e Participações S.A. (“Aegea”) to supply, with reused water, the production of Braskem's industrial unit in Duque de Caxias, Rio de Janeiro
  • Bristol-Myers (BMY) announces the final analysis of overall survival from the Phase 3 CheckMate -816 study, which evaluated Opdivo in combination with platinum-doublet chemotherapy as a neoadjuvant treatment for adult patients with resectable non-small cell lung cancer
  • BWX Technologies (BWXT) announces the award of U.S. Naval Nuclear Propulsion Program contracts totaling approximately $2.1 billion for the manufacture of reactor components
  • Capital Southwest Corp. (CSWC) announces that Chief Financial Officer Michael Sarner has been appointed by the Board of Directors to succeed Bowen Diehl as President and Chief Executive Officer of Capital Southwest
  • Charter Comm's (CHTR) Spectrum business launches new flexible packages and free internet speed lifts
  • Cidara Therapeutics (CDTX) announces that Frank Karbe, MBA, has been appointed Chief Financial Officer, effective February 24, 2025
  • Darling Ingredients (DAR) and GreenGasUSA announce the first renewable natural gas deliveries from a project located at Darling Ingredients’ rendering facility in Dublin, GA
  • Diana Shipping (DSX) through a separate wholly-owned subsidiary, enters into a time charter contract with Cargill International SA, Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini
  • Dycom (DY): Spruce Point Capital Management announces investment opinion: releases report and Strong Sell research opinion on Dycom Industries
  • Dynavax (DVAX): Deep Track Capital nominates four highly qualified candidates for election to Dynavax Technologies’ Board of Directors at 2025 Annual Meeting
  • Eason Technology Limited (DXF) announces acquisition of Hongkong Starlux Intelligent Technology, a blockchain technology company focused on blockchain security and the application of blockchain technology; financial terms were not disclosed
  • Eli Lilly (LLY) notes the Trump administration imposed China tariffs; says if "additional trade restrictions are adopted or geopolitical tensions were to increase and disrupt our operations in, or related to, China, such disruption
  • Enpro Inc. (NPO) beats by $0.10, beats on revs; guides FY25 EPS in-line
  • Everspin (MRAM) and Lattice Semiconductor (LSCC) Collaborate to Bring High-Reliability MRAM Solutions to FPGA Platforms
  • Faraday Future Intelligent Electric (FFIE) begins hiring for key positions to help support its AI initiatives as it furthers its plans to significantly expand AI R&D efforts and input, launching recruitment of AI talents; co to change ticker to FFAI on March 10
  • FREYR Battery (FREY) unveiling a strategic rebranding of the Company as T1 Energy Inc.
  • Gannett (GCI) enters into an asset purchase agreement with Hearst to divest the Austin American-Statesman from the USA TODAY Network portfolio of over 200 local publications across the country
  • Google (GOOG, GOOGL) will have to pay $340 mln in Italian fines, according to Reuters
  • GXO Logistics (GXO) will engage constructively with the UK CMA as it completes its Phase 2 process and will continue to work towards full clearance of the transaction by the end of April
  • Herc Holdings (HRI) and H&E Equipment Services, Inc. d/b/a H&E Rentals (HEES) announce that H&E has terminated its prior merger agreement with United Rentals (URI) and that Herc and H&E have entered into a definitive merger agreement under which Herc will acquire H&E
  • Hims & Hers Health (HIMS) announces its plans to introduce at-home lab testing through its platform
  • Honeywell (HON) appointed Mike Stepniak as CFO, effective yesterday, February 17
  • ImmunityBio (IBRX) announces the U.S. FDA has authorized an expanded access program that will bring a vital alternative source of BCG, a standard-of-care medicine in bladder cancer, to patients in the U.S.
  • Intel (INTC) breakup could face regulatory issues, according to Axios
  • KKR (KKR) having dispute with management over EUR 449 mln earnings reduction, according to Financial Times
  • Lam Research (LRCX) ushers in new era of semiconductor metallization with ALTUS Halo for molybdenum atomic layer deposition
  • Largo Resources (LGO) promotes and appoints Gordon Babcock and Luis Rendón as Co-Chief Operating Officers
  • Lockheed Martin (LMT): The Trump administration wants Pentagon to prepare for 8% defense budget cut in each of the next 5 years, according to Washington Post
  • Marriott's (MAR) Bonvoy and Manchester United (MANU) invite the club's most passionate fans for a once-in-a-lifetime stay in the captain's suite inspired by Legend Gary Neville
  • Matador Resources (MTDR) also announced earlier that Board approved 25% increase in Matador’s dividend policy
  • Merck (MRK): Vaccine case linked to Robert F. Kennedy Jr delayed, according to Reuters
  • Merck (MRK): Epitopea announces a license and research collaboration agreement with MSD to identify Cryptigen tumor-specific antigens in an undisclosed solid tumor
  • MFH's (MFH) Majority-Owned Subsidiary Aifinity Base Limited Plans to Manufacture Advanced Liquid Cooling Solutions for Nvidia Chip-Powered AI Data Centers and High-Performance Computing
  • Microsoft (MSFT) announces Majorana 1 chip carves new path for quantum computing
  • National Health Investors (NHI): Jonathan Litt will start proxy battle with National Health Investors, according to the Wall Street Journal
  • Navigator Holdings (NVGS) completed the acquisition of the first of three vessels, as previously announced on January 7, 2025
  • Neogen (NEOG) announces that the National Labor Relations Board has withdrawn its unfair labor practices claim against the Company
  • Netflix (NFLX): Mexico President Claudia Sheinbaum Pardo announces NFLX will make investment in her country
  • Newmark Group (NMRK) names Stephen Merkel as Chairman
  • Nikola Corporation (NKLA) announces that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware
  • NVIDIA (NVDA) posts blog titled "Massive Foundation Model for Biomolecular Sciences Now Available via NVIDIA BioNeMo"
  • Occidental Petro (OXY) achieves its near-term debt repayment target of $4.5 billion in the fourth quarter of 2024 and signed two agreements in the first quarter of 2025 to divest upstream assets to undisclosed buyers for a combined total of $1.2 billion
  • Parsons (PSN) misses by $0.13, misses on revs; guides FY25 revs in-line, reiterates long-term growth targets
  • Perma-Fix Enviro (PESI) provides an update on the progress and advancements in its proprietary PFAS (per- and polyfluoroalkyl substances) treatment technology, Perma-FAS
  • Perrigo (PRGO) increases quarterly cash dividend 5% to $0.290/share from $0.276/share
  • Petco Health and Wellness (WOOF) appoints Sabrina Simmons as CFO, effective February 17
  • Phillips 66 (PSX): Elliott Associates filed proxy materials this morning with notice of nomination of director candidates to stand for election to the Company’s Board of Directors
  • Plymouth Industrial REIT (PLYM) has promoted Anthony Saladino to President and Chief Financial Officer, effective immediately
  • PTC Therapeutics (PTCT) announces FDA acceptance and Priority Review for Vatiquinone NDA for the treatment of children and adults with friedreich's ataxia
  • Rio Tinto (RIO) notes Mitsui (MITSY) has agreed to join Rhodes Ridge Joint Venture
  • Roche Hldg (RHHBY): Health Canada authorizes Itovebi, a targeted treatment for advanced hormone receptor-positive, HER2-negative breast cancer with a PIK3CA mutation
  • Roper (ROP) mulling $4 bln sale of Neptune business, according to Bloomberg
  • Sable Offshore Corp (SOC) discloses it filed a complaint against the California Coastal Commission in the Superior Court of the State of California for the County of Santa Barbara
  • Sherwin-Williams (SHW) increases quarterly cash dividend 10.5% to $0.79/share from $0.715/share
  • Sibanye-Stillwater (SBSW) reported trading update for the year ended December 31, 2024
  • Sinclair Broadcast (SBGI) announces a broadcast affiliate distribution agreement with Nexstar (NXST) to renew and expand the clearances for Comet, CHARGE!, TBD and The Nest, Sinclair’s free, over-the-air multicast television networks
  • Southwest Air (LUV) amended Cooperation Agreement with Elliott Investment Management
  • Stantec (STN) and its partner Drees & Sommer have been selected for Silicon Box’s new €3.2 bln state-of-the-art semiconductor assembly and test facility in Northern Italy
  • Supernus Pharma (SUPN) announces that the Phase 2b study of SPN-820 in adults with treatment-resistant depression did not demonstrate a statistically significant improvement on the primary endpoint of change from baseline in the Montgomery-Åsberg Depression Rating Scal
  • TransUnion (TRU) appoints Tiffani Chambers Chief Operations Officer, effective February 19, 2025
  • UnitedHealth (UNH) looking to cut workforce by initially offering buyouts, according to CNBC
  • Unum Group (UNM) announces that its board of directors has approved a share repurchase program authorizing the company to repurchase up to $1 bln of its common stock from time to time beginning on April 1, 2025
  • Uranium Energy (UEC) reaches key production milestone at Irigaray Plant
  • Valaris (VAL) announces fleet rationalization and issues fleet status report
  • Yum! Brands (YUM) announces that KFC will relocate U.S. corporate office employees currently in Louisville, Kentucky, to the KFC and Pizza Hut Global headquarters in Plano, Texas

• Upgrades:
  • Brighthouse Financial (BHF) upgraded to Equal Weight from Underweight at Wells Fargo; tgt raised to $59
  • Capital One (COF) upgraded to Buy from Neutral at BofA Securities; tgt raised to $235
  • Illinois Tool (ITW) upgraded to Hold from Sell at Deutsche Bank; tgt $257
  • NetApp (NTAP) upgraded to Neutral from Underperform at BofA Securities; tgt raised to $128
  • STMicroelectronics (STM) upgraded to Buy from Hold at Jefferies
  • Travelers (TRV) upgraded to Outperform from Mkt Perform at Keefe Bruyette; tgt raised to $286
• Downgrades:
  • Baidu (BIDU) downgraded to Neutral from Buy at Nomura
  • Bio-Techne (TECH) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $68
  • Essential Properties Realty Trust (EPRT) downgraded to Neutral from Buy at B. Riley Securities; tgt raised to $33.50
  • Glaukos (GKOS) upgraded to Outperform from Neutral at Mizuho; tgt raised to $200
  • ICICI Bank (IBN) downgraded to Hold from Buy at Erste Group
  • Qiagen (QGEN) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $42
  • Supernus Pharma (SUPN) downgraded to Neutral from Overweight at Cantor Fitzgerald; tgt lowered to $36
  • Tactile Systems (TCMD) downgraded to Neutral from Buy at B. Riley Securities; tgt lowered to $18
  • TRI Pointe Homes (TPH) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $37
  • Valmont (VMI) downgraded to Neutral from Buy at DA Davidson; tgt $380
  • Workday (WDAY) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $275
• Others:
  • Candel Therapeutics (CADL) initiated with a Buy at Canaccord Genuity; tgt $20
  • Coincheck Group N.V. (CNCK) initiated with an Overweight at Cantor Fitzgerald; tgt $10
  • Compass Therapeutics (CMPX) initiated with an Overweight at Piper Sandler; tgt $12
  • Electronic Arts (EA) initiated with a Neutral at DA Davidson; tgt $140
  • Lightspeed (LSPD) initiated with a Buy at BofA Securities; tgt $20
  • Stanley Black & Decker (SWK) initiated with a Buy at Jefferies; tgt $103
  • Take-Two (TTWO) initiated with a Buy at DA Davidson; tgt $250
  • UroGen Pharma (URGN) resumed with a Buy at Ladenburg Thalmann; tgt $31

• Econ Data (Thursday):
  • 8:30 ET: February Philadelphia Fed Survey (Briefing.com consensus 20.5; prior 44.3), weekly Initial Claims (Briefing.com consensus 217,000; prior 213,000), and Continuing Claims (prior 1.850 mln)
  • 10:30 ET: Weekly natural gas inventories (prior -100 bcf)
  • 11:00 ET: Weekly natural gas inventories (prior +4.07 mln)
• Earnings:
  • Monday (Feb 17)
    • Pre-Market: None
    • After-Hours: None
  • Tuesday (Feb 18)
    • Pre-Market: ALLE BIDU BLKB CC DFIN EXPD ETR FLR FELE WGS GPC HLMN MDT NEO SPNS TPH VMI VC VMC WSO WAY
    • After-Hours: ANDE ANET BMBL CDNS CE CYH CRK CSGP CVI DVN ESI EQT FLS HALO NGVT IOSP IFF JHX LZB MGY MTDR MFA OXY PEN PRDO RBA RUSHA WTTR FOUR SON TX TOL UIS
  • Wednesday (Feb 19)
    • Pre-Market: FOLD ADI APPN BLCO CRL CNK CLVT CLH ENLT NPO ETSY FVRR GRMN THRM ROCK GIL GLBE HR HBM IONS JLL KRYS LPX MTRN OGE OSW PSN PHG PRG PUMP SCL TNL TRMB WING WIX WWW
      
    • After-Hours: ACVA AGI AWR AWK AMPL ANSS BTG BHC BMRN CVNA CF CAKE CHDN CWAN CDE ENVX EQX EXAS GNK LOPE HLF HST ICLR IMAX IIPR JXN KALU KVYO MFC MGRC MCW NRDS NDSN NOG OII OGS KAR OEC PAAS PK PRAA RELY SBRA SM SEDG RGR SKT TOST TS TRUP VMEO VTLE
  • Thursday (Feb 20)
    • Pre-Market: BABA ALIT COLD ARDX ATHM BAND BAX BIGC BILI BIRK BLDR CCJ CVE CNP LNG CHH CSTM CNR CWK DAN DBRG DNB DAVA NVRI EPAM ESAB FRPT FCN HAS DINO HNI IDA INSM ITGR LAMR LAUR DRS LKQ NTES NICE NTR MD POOL PRMB PWR RS RGEN SABR SHAK SO SWTX TECK TPX TRN TRIP U UPBD UTZ WMT W
    • After-Hours: ACCO AKAM ALRM LNT AMH AMN BBDC BJRI XYZ BCC BKNG CARG ED DBX EIG EVH EXPI FNF FIVN FND FYBR GLPI GKOS GMED GDYN GH INDI PODD IRTC LYV MP MELI NEM NVEE RXT REZI RNG RIVN RYAN RHP SEM SFM SVV TXRH OLED VICI VICR WSC WKC
  • Friday (Feb 21)
    • Pre-Market: ATMU BCPC BRC OIS SHO TDS TXNM TCOM UNIT VIPS
    • After-Hours: HE
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike