After Hours Report

The stock market traded with a positive bias, but index performance was mixed due to declines in highly influential names. The Nasdaq Composite, which flirted with the unchanged mark through most of the session, ultimately settled 0.2% higher. The S&P 500 logged a 0.4% gain and the Dow Jones Industrial Average jumped 0.7%.

Alphabet (GOOG 193.30, -14.41, -6.9%), which had been on an impressive run, saw a sharp decline after its earnings results didn't meet the high expectations set by investors, compounded by its $75 billion capital expenditure plan for 2025. This loss followed a recent peak all-time high of over $204 just five days ago on January 31.

Apple (AAPL 232.47, -0.33, -0.1%) was also in the red after a Bloomberg report surfaced that China was contemplating a probe into its App Store fees and policies. Shares recovered nicely off their worst levels, though, after trading down as much as 1.9%.

Walt Disney (DIS 110.54, -2.76, -2.4%) was another notable decliner, slipping 2.4% after reporting a drop in Disney+ subscribers.

Despite these challenges, market breadth was broadly positive, with advancers outnumbering decliners by nearly a 2-to-1 ratio on both the NYSE and the Nasdaq. The equal-weighted S&P 500 was up 0.5% and eight of the 11 S&P 500 sectors closed higher. 

The drop in market rates contributed to the upside bias in equities. The 10-yr yield dropped nine basis points to 4.42% and the 2-yr yield dropped four basis points to 4.18%. The rally in the Treasury market followed weaker-than-expected Services PMI readings for January out of China, Europe, and the U.S. that fostered some growth concerns.

The rally in the bond market was undeterred by the news from the U.S. Treasury that it will increase the size of this month's 10-, 20-, and 30-yr auctions by three billion apiece. 

Buying in the Treasury market was partially fueled by heightened geopolitical uncertainty following surprise comments from President Trump during a press conference with Israeli Prime Minister Netanyahu indicating that the U.S. would take over the Gaza Strip. However, the aforementioned economic data seemed to be more influential than geopolitical worries, which weren't reflected in commodity prices. Oil prices usually increase amid increased conflict in the Middle East due to worries about supply disruptions, but WTI crude oil futures settled below their 50-day moving average (72.13) at $71.11/bbl, the lowest level of the year thus far.

• Dow Jones Industrial Average: +5.5% YTD
• S&P Midcap 400: +4.1% YTD
• Russell 2000: +3.9% YTD
• S&P 500: +3.1% YTD
• Nasdaq Composite: +2.0% YTD

Reviewing today's economic data:

• The December Trade Balance Report showed a widening in the deficit to $98.4 billion (Briefing.com consensus -$98.0 billion) from a downwardly revised $78.9 billion (from -$78.2 billion) in November. December exports were $7.1 billion less than November exports while December imports were $12.4 billion more than November imports.
  • The key takeaway from the report is that the big jump in imports was presumably a function of trying to get ahead of possible tariff actions.
• January S&P Global US Services PMI - Final 52.9 vs. 52.8 prior
• The ISM Services PMI decreased to 52.8% in January (Briefing.com consensus 53.9%) from a downwardly revised 54.0% (from 54.1%) in December. The dividing line between expansion and contraction is 50.0%, so the January reading reflects services sector activity expanding but at a slower pace than the prior month. January marked the 53rd time in 56 months that the Services PMI indicated expansion.
  • The key takeaway from the report is that the pace of expansion in the nation's largest sector decelerated in January. That will likely temper growth forecasts for the first quarter.

Market participants receive the following economic data on Thursday:

• 8:30 ET: Preliminary Q4 Productivity (actual 0.8%; prior 2.2%) and Unit Labor Costs (Briefing.com consensus 2.6%; prior 0.8%), weekly Initial Claims (Briefing.com consensus 213,000; prior 207,000), and Continuing Claims (prior 1.858 mln)
• 10:30 ET: Weekly natural gas inventories (prior -321 bcf)

Overseas:

• Europe: DAX +0.2%, FTSE +0.6%, CAC -0.2%
• Asia: Nikkei +0.1%, Hang Seng -0.9%, Shanghai -0.6%

Commodities:

• Crude Oil -1.65 @ 71.11
• Nat Gas +0.10 @ 3.35
• Gold +18.90 @ 2893.80
• Silver -0.09 @ 32.95
• Copper +0.07 @ 4.44

After-Hours Spotlight:

• Arm Holdings plc (ARM) beats by GBP0.05, beats on revs; guides Q4 EPS in-line, revs in-line... ARM down 6.5%
• Coherent (COHR) beats by $0.26, beats on revs; guides Q3 EPS in-line, revs in-line... COHR up 10.6%
• Crown (CCK) beats by $0.09, reports revs in-line; guides Q1 EPS above consensus; guides FY25 EPS in-line... CCK up 7.8%
• Digital Turbine (APPS) beats by $0.14, beats on revs; guides FY25 revs above consensus... APPS up 20.0%
• Ford Motor (F) beats by $0.05, misses on revs; guides Q1 adjusted EBIT to be roughly breakeven... F down 5.2%
• FormFactor (FORM) misses by $0.02, reports revs in-line; guides Q1 EPS below consensus, revs below consensus... FORM down 22.7%
• Impinj (PI) reports EPS in-line, misses on revs; guides Q1 EPS below consensus, revs below consensus... PI down 24.2%
• Molina Healthcare (MOH) misses by $0.83, beats on revs; guides FY25 EPS below consensus, revs above consensus... MOH down 9.8%
• O'Reilly Auto (ORLY) misses by $0.25, beats on revs; guides FY25 EPS below consensus, revs in-line... ORLY down 3.2%
• Qualcomm (QCOM) beats by $0.43, beats on revs; guides Q2 EPS above consensus, revs in-line... QCOM down 3.6%
• Symbotic (SYM) reports Q1 (Dec) results, revs in-line; guides Q2 revs below consensus... SYM down 15.6%

Fair Value for Thursday, February 6:

• S&P 500: 6,087
• Nasdaq 100: 21,761
• DJIA: 45,008

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

• Earnings/Guidance (Full Earnings Calendar):
  • 8x8 (EGHT) beats by $0.02, reports revs in-line; guides Q4 revs below consensus; guides FY25 EPS above consensus
  • A10 Networks (ATEN) beats by $0.02, beats on revs
  • Advanced Micro Devices (AMD) beats by $0.01, beats on revs; guides Q1 revs in-line
  • Allegiant Travel (ALGT) beats by $0.03, reports revs in-line; Provides airline only guidance for Q1 and FY25
  • Alphabet (GOOG) beats by $0.02, reports revs in-line, Google Cloud revenue increased 30%; Expects to invest approximately $75 bln in capex in 2025
  • Amdocs (DOX) beats by $0.02, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; reaffirms FY25 EPS guidance
  • American Fincl (AFG) beats by $0.02, beats on revs
  • Amgen (AMGN) beats by $0.23, beats on revs; guides FY25 EPS in-line, revs in-line
  • Ares Capital (ARCC) misses by $0.03, misses on total investment income
  • Ares Management (ARES) misses by $0.75
  • Artisan Partners Asset Mgmt (APAM) beats by $0.10, beats on revs
  • ASGN Incorporated (ASGN) has signed a definitive agreement to acquire TopBloc for $340 mln in cash and equity
  • Aspen Tech (AZPN) beats by $0.19, beats on revs
  • ATS Corp (ATS) misses by CAD 0.03; reports revs roughly in line
  • AZEK (AZEK) beats by $0.04, beats on revs; guides Q2 revs in-line; guides FY25 revs in-line
  • Azenta (AZTA) beats by $0.02, beats on revs; Reaffirms FY25 organic revenue growth guidance
  • AZZ (AZZ) sees FY25/FY26 revenues and EPS in line
  • Banco Santander (SAN) reports FY24 results, exceeding targets; provides outlook for 2025; announces new buyback program
  • Bio-Techne (TECH) beats by $0.03, beats on revs
  • Boston Scientific (BSX) beats by $0.04, beats on revs; guides Q1 EPS above consensus; guides FY25 EPS mostly above consensus, revs above consensus
  • Bunge (BG) misses by $0.11, reports revs in-line; guides FY25 EPS below consensus
  • Capri Holdings (CPRI) misses by $0.21, reports revs in-line; guides FY25 revs below consensus; guides FY26 revs below consensus
  • Carlisle Cos (CSL) beats by $0.05, misses on revs, guides for 2025
  • CDW (CDW) beats by $0.16, beats on revs; $750 mln increase to share buyback authorization; ups dividend; authorizes $750 million share repurchase program increase
  • Cencora (COR) beats by $0.23, beats on revs; raises FY25 EPS above consensus, revs in-line
  • ChampionX (CHX) beats by $0.09, beats on revs
  • Chipotle Mexican Grill (CMG) beats by $0.01, reports revs in-line, comps +5.4%, guides to FY25 comp growth in the low to mid-single digits
  • Cirrus Logic (CRUS) beats by $0.47, beats on revs; mid-point of MarQ revs guidance above consensus
  • Columbia Sportswear (COLM) beats by $0.02, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus
  • Criteo (CRTO) beats by $0.40, beats on revs; guides Q1 revs in-line; names new CEO; increases share repurchase authorization to $805 mln
  • Dayforce (DAY) beats by $0.15, beats on revs, provides Q1 and FY25 guidance
  • DXC Technology (DXC) beats by $0.15, reports revs in-line; guides MarQ EPS above consensus, revs below consensus
  • Electronic Arts (EA) beats by $0.06, misses on revs; guides Q4 EPS in-line, revs below consensus
  • Emerson (EMR) beats by $0.10, misses on revs; guides Q2 EPS below consensus; guides FY25 EPS in-line, revs below consensus
  • Enphase Energy (ENPH) beats by $0.21, beats on revs; guides Q1 revs above consensus
  • Equinor (EQNR) misses by $0.11
  • Evercore (EVR) beats by $0.59, beats on revs
  • FirstService (FSV) misses by $0.04, beats on revs
  • Fiserv (FI) beats by $0.03, beats on revs; guides FY25 EPS in-line, revs above consensus
  • FMC Corp (FMC) beats by $0.19, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus
  • GlaxoSmithKline (GSK) beats by 3 pence, beats on revs
  • Griffon (GFF) beats by $0.20, reports revs slightly below consensus
  • H & R Block (HRB) misses by $0.08, misses on revs; reaffirms FY25 EPS guidance, revs guidance
  • IBM (IBM) in investor day presentation sees long term sustainable revenue growth of 5%; sees FCF growth 2-3 points above revenue growth
  • ICHOR Corporation (ICHR) misses by $0.01, reports revs in-line; guides Q1 EPS in-line, revs in-line
  • IDEX Corp (IEX) beats by $0.02, reports revs in-line; guides Q1 EPS below consensus; guides FY25 EPS below consensus
  • Illinois Tool (ITW) beats by $0.05, misses on revs; guides FY25 EPS below consensus, revs below consensus, cites FX headwind in 2025
  • Intapp (INTA) beats by $0.05, reports revs in-line; guides Q3 EPS above consensus, revs above consensus; guides FY25 EPS above consensus, revs above consensus
  • Jack Henry (JKHY) beats by $0.02, reports revs in-line; guides FY25 EPS below consensus, revs in-line
  • Johnson Controls (JCI) beats by $0.05, beats on revs; guides Q2 EPS above consensus; raises FY25 EPS above consensus
  • Juniper Networks (JNPR) beats by $0.07, beats on revs
  • Kennametal (KMT) misses by $0.01, misses on revs; guides Q3 EPS below consensus, revs below consensus; guides FY25 EPS below consensus, revs below consensus
  • Kinder Morgan (KMI) releases 2025 annual business presentation with budget highlights
  • Kulicke & Soffa (KLIC) beats by $0.09, reports revs in-line; guides Q2 EPS below consensus, revs below consensus
  • Lumen Technologies (LUMN) beats by $0.14, beats on revs
  • Match Group (MTCH) beats by $0.04, reports revs in-line; guides Q1 revs below consensus; guides FY25 revs in-line
  • Mattel (MAT) beats by $0.15, beats on revs; guides FY25 EPS above consensus
  • Mercury (MRCY) provides FY25 expectations in slides; targeting revenue growth approaching mid-single-digits
  • Modine Manufacturing (MOD) beats by $0.13, beats on revs
  • Mondelez Int'l (MDLZ) misses by $0.01, reports revs in-line; guides FY25 EPS below consensus
  • Mueller Water (MWA) beats by $0.06, beats on revs; raises FY25 revs above consensus
  • New York Times (NYT) beats by $0.05, reports revs in-line; Sees 1Q25 total subscription revenue growth of 7-10%
  • Nomura Holdings (NMR) reports nine-month results
  • NOV Inc. (NOV) beats by $0.05, beats on revs; guides Q1 revs in-line
  • Novo Nordisk (NVO) beats on top and bottom lines; provides outlook for FY25
  • Performance Food Group (PFGC) misses by $0.07, beats on revs; guides Q3 revs above consensus; guides FY25 revs above consensus
  • O-I Glass (OI) beats by $0.03, misses on revs; guides FY25 EPS in-line
  • Old Dominion (ODFL) beats by $0.07, beats on revs
  • Omnicom (OMC) reports EPS in-line, revs in-line
  • Oscar Health (OSCR) misses by $0.03, misses on revs
  • Reservoir Media (RSVR) reports Q3 results; raising its previously provided financial outlook
  • Reynolds Consumer Products (REYN) reports EPS in-line, beats on revs; guides Q1 EPS below consensus; guides FY25 EPS below consensus
  • RXO, Inc. (RXO) beats by $0.01, reports revs in-line
  • Sasol (SSL) reports six-month trading statement
  • Simon Properties (SPG) beats by $0.26, beats on revs; guides FY25 FFO in-line
  • Snap (SNAP) beats by $0.05, reports revs in-line; projects Q1 revenue in-line with consensus; expects DAUs of approximately 459 mln
  • Spire (SR) misses by $0.08, misses on revs; guides FY25 EPS in-line
  • Stanley Black & Decker (SWK) beats by $0.22, beats on revs; guides FY25 EPS in-line
  • TotalEnergies (TTE) beats on top and bottom lines; provides outlook; raises dividend
  • Toyota Motor (TM) reports nine-month results; raises FY25 outlook
  • T. Rowe Price (TROW) misses by $0.07, misses on revs
  • trivago (TRVG) announced financial results for the fourth quarter
  • Uber (UBER) beats by $2.71, beats on revs
  • Varonis Systems (VRNS) beats by $0.04, misses on revs; guides Q1 EPS below consensus, revs above consensus; guides FY25 EPS below consensus, revs below consensus
  • Vishay (VSH) misses by $0.08, reports revs in-line; guides Q1 revs midpoint below consensus
  • Voya Financial (VOYA) beats by $0.68, beats on revs
  • Walt Disney (DIS) misses by $0.05, reports revs in-line, Disney+ subscribers decreased by 700,000 qtr/qtr; Reaffirms FY25 EPS growth outlook of high-single-digit growth
  • Western Union (WU) misses by $0.02, beats on revs; guides FY25 EPS in-line, revs in-line
  • Workday (WDAY) expects Q4 results to be in-line with or above prior guidance, with exception of GAAP operating margin, due to new restructuring plan that will include elimination of approximately 1,750 positions
  • Zenas Biopharma (ZBIO) announces its 2024 accomplishments, outlined its key business objectives for 2025 and announced preliminary unaudited cash balance as of year-end 2024
  • Zurn Elkay Water Solutions (ZWS) beats by $0.04, beats on revs
• General News
  • The Trump administration planning widespread layoffs of federal employees, according to CNN
  • President Trump at press conference says US should takeover Gaza and begin reconstruction of the country, according to Bloomberg
  • Senate confirms Pam Bondi as Attorney General by a vote of 54-46
  • EU planning retaliatory measures against large technology companies if tariffs are imposed, according to Financial Times
  • White House crypto czar David Sacks studying creation of bitcoin reserve, according to Bloomberg
  • Securities and Exchange Commission mulling scaling back cryptocurrency enforcement, according to the New York Times
  • USPS temporarily stopped accepting packages from China, according to the New York Times
  • Senate Republicans will meet with President Trump Friday night to discuss reconciliation strategy as some want to break off immigration, energy, and defense into a separate bill, according to Politico
  • Israel supports President Trump's plan for US to takeover Gaza Strip, but most Arab nations are against it, according to Bloomberg
  • Senate Commerce Committee votes to advance nomination of Howard Lutnick for Commerce Secretary to a full Senate vote, where he is on track to be confirmed
  • Department of Government Efficiency searching Medicare payment systems for fraud, according to WSJ
  • FDA alerts patients of potential to miss critical safety alerts due to phone settings when using smartphone-compatible diabetes devices
  • TikTok owners may be impeding sale, according to Washington Post
  • China initiates WTO dispute complaint regarding US tariff measures
  • Class 8 truck orders fell 5% yr/yr in January, according to Act Research
  • Department of Agriculture detected another bird flu strain in cattle, according to Reuters
  • White House officials walk back portions of President Trump's Gaza takeover plan, according to NY Times
  • President Trump will present plan to end war in Ukraine at Munich Security Conference next week, according to Bloomberg
  • 3M (MMM) increases quarterly cash dividend to $0.73/share from $0.70/share
  • 3M (MMM) discloses it received a grand jury subpoena from the U.S. Attorney’s Office for the Western District of Wisconsin seeking records related to the Prairie du Chien facility
  • Acrivon Therapeutics (ACRV) announces FDA has Granted breakthrough device designation for ACR-368 oncosignature assay for endometrial cancer
  • Amazon (AMZN) will soon release new Alexa artificial intelligence voice service, according to Reuters
  • Apple (AAPL): China mulling investigation into Apple, according to Bloomberg
  • Ares Capital (ARCC) announces that Co-President Kort Schnabel has been appointed as Chief Executive Officer of the Company, effective April 30, 2025
  • Ares Management (ARES) announces that it has appointed Kipp deVeer and Blair Jacobson to the newly created positions of Co-Presidents, effective immediately
  • Argan's (AGX) Atlantic Projects Company entered into an engineering, procurement and construction services contract with SSE Thermal
  • Arrow Electronics (ARW) and Clarifai Partners announce partnership to accelerate commercial AI adoption and distribution
  • Atlantic Union Bankshares (AUB) and Sandy Spring Bancorp (SASR) jointly announce that Atlantic Union’s shareholders and Sandy Spring’s stockholders have approved the previously announced merger of Sandy Spring with and into Atlantic Union at their respective special meetings held today
  • Avid Bioservices (CDMO) poised for significant growth with new partners GHO Capital and Ampersand Capital Partners
  • Avid Bioservices, Inc. (CDMO) provides notice of fundamental change and make-whole fundamental change to holders of its convertible notes in connection with completed merger
  • Brookfield Asset Mgmt (BAM) and Brookfield Corporation (BN) announced the completion of the previously-announced arrangement to enhance BAM’s corporate structure and broaden shareholder ownership
  • Canadian Pacific (CP) Kansas City Ltd. reaches a tentative four-year collective agreement with United Steelworkers representing clerical and intermodal employees in Canada
  • Cassava Sciences (SAVA): NIH says SAVA's trial on Simufilam has been terminated
  • Chegg (CHGG) aiming to release new AI features, according to Semafor
  • Cirrus Logic (CRUS) announces the appointment of Jeff Woolard as chief financial officer, effective February 24, 2025
  • Clover Health's (CLOV) subsidiary, Counterpart, announces a strategic, multi-year agreement with Southern Illinois Healthcare, a regional leader in healthcare delivery and the largest health system in Southern Illinois
  • Constellation Energy (CEG) expands real estate enterprise launching monomoy construction services
  • Daktronics (DAKT) comments on press release and litigation from Alta Fox Capital Management
  • Easterly Government Properties (DEA) CEO Advocates for GSA Reform Through DOGE Partnership
  • Embraer SA (ERJ) and Flexjet sign agreement valued at up to USD $7 billion, representing the largest firm order for both companies and reaffirming Flexjet's long-standing commitment to Phenom and Praetor jets
  • EyePoint Pharmaceuticals (EYPT) announces positive six-month results for the ongoing Phase 2 VERONA clinical trial evaluating DURAVYU, an investigational sustained delivery therapy delivering patent-protected vorolanib, a selective tyrosine kinase inhibitor formulated in proprietary bioerodible Durasert E
  • FedEx (FDX) announced that it has acquired RouteSmart Technologies
  • Flex (FLEX) and Husqvarna (HSQVY) announce a manufacturing partnership, which will enable Husqvarna to further enhance flexibility, efficiency, and time to market through Flex's strategic supply chain management solutions and expand Flex's Lifestyle portfolio into outdoor and power equipment
  • Goodyear Tire (GT) details agreement with the United Steelworkers
  • Harley-Davidson (HOG) misses by $0.28, misses on revs; sees FY25 EPS in line
  • IMAX (IMAX) shattered its box office record for Chinese New Year, delivering $53 million during the 7-day holiday period concluded February 4
  • Intel (INTC) working with Japan lab on quantum computer, according to Nikkei
  • Intercontinental Exchange (ICE) reports January 2025 trading volume and related revenue statistics
  • Invivyd (IVVD) announces partnership with Pro Football Coach Jim Harbaugh to elevate awareness and ongoing impact of COVID-19: common, not a cold
  • Jack In The Box (JACK): Del Taco signs a 10-unit development agreement with a new franchise group in the Indianapolis DMA
  • Johnson Controls (JCI) announces that its Board of Directors has appointed Joakim Weidemanis as Chief Executive Officer effective March 12, 2025
  • Kemper (KMPR) increases quarterly cash dividend 3.1% to $0.32/share from $0.31/share
  • Kenon Holdings' (KEN) OPC Energy announces completion of refinancing of Shore Power Plant
  • Kenvue (KVUE) highlights commitment to shareholder value; confirms receipt of director nominees from Starboard Value
  • Kroger (KR) and its Family of Pharmacies announce a new agreement with Express Scripts, the pharmacy benefit services business of Evernorth
  • loanDepot (LDI) and Onx Homes announce a new joint venture that will provide a smooth and streamlined financing option for new homebuyers in Florida and Texas
  • Maravai Life Sciences (MRVI): TriLink BioTechnologies has signed a non-exclusive License and Supply Agreement with Aldevron, a leading, global Contract Development and Manufacturing Organization providing high-quality plasmid DNA, RNA, and proteins for research, therapeutics, and diagnostics
  • Markel Group (MKL) and Guidewire (GWRE) announce that Markel successfully migrated Guidewire ClaimCenter from an on-premise environment to Guidewire Cloud to power and simplify its claims and IT operations
  • MarketAxess (MKTX) announces trading volume statistics for January 2025
  • Match Group (MTCH) appoints Spencer Rascoff as CEO, effective immediately; succeeds Bernard Kim, who is stepping down
  • MGM Resorts (MGM): Texas Governor Greg Abbott open to legalization of sports betting in his state, according to Fox News
  • MicroStrategy (MSTR) announced it is now doing business as 'Strategy'; Leadership to address new brand at Earnings Call today at 5 p.m. ET
  • Moller Maersk (AMKBY) to initiate a share buy-back program of up to DKK 14.4 billion (around $2 billion) to be executed over a period of 12 months
  • NCR Voyix Corporation (VYX) names James Kelly as President and CEO; reaffirms outlook
  • Nissan Motor (NSANY) responding to media says "Honda (HMC) and our company are in the stage of advancing various discussions, including the contents of the report, and we plan to establish a direction and make an announcement around mid-February
  • Nordic American Tanker (NAT) plans to buy two or three ships and to sell two or three
  • Nuvectis Pharma (NVCT) announces the pricing of its previously announced underwritten public offering of 2,700,000 shares of its common stock at a price of $5.00/share, with expected gross proceeds to Nuvectis of $13.5 mln
  • NVIDIA (NVDA) Responds to TRC Capital’s ‘Mini-Tender’ Offer
  • OptimizeRx (OPRX): Whetstone Capital Advisors discloses 8.2% active stake; sent letter to the Board urging to consider strategic alternatives
  • Pinduoduo (PDD): Shein and Temu could soon be added to Department of Homeland Security's forced labor list, according to Semafor
  • Plains All American' (PAA) Plains Midstream workers ratify new agreement
  • PureCycle Technologies (PCT) announces financing transaction for $33 million
  • Qiagen (QGEN) announces that the German Federal Patent Court has ruled in its favor in a patent dispute against SD Biosensor, reaffirming the validity of an important patent protecting key innovations in its QuantiFERON technology
  • Rocket Lab USA (RKLB) has signed a multi-launch deal with Institute for Q-shu Pioneers of Space
  • Sampo (SAXPY) Board of Directors has resolved on a share split
  • Samsung (SSNLF) has partnered with Cielo to transform retail advertising and franchise operations
  • SEALSQ Corp (LAES) has allocated up to $20 mln of its available cash to invest in pioneering startups specializing in quantum computing, Quantum-as-a-Service, and AI-driven semiconductor technologies
  • Softbank (SFTBY) close to agreement to acquire Ampere, according to Bloomberg
  • Sphere Entertainment Co.'s (SPHR) MSGN Holdings agreed to another extension of the Forbearance Agreement
  • Summit Materials (SUM) announces stockholder approval of Quikrete transaction; expected to close within the first quarter of 2025
  • Super Micro Computer (SMCI) is announcing full production availability of its end-to-end AI data center Building Block Solutions accelerated by the NVIDIA (NVDA) Blackwell platform
  • Tempur Sealy Int'l (TPX) to change its name to Somnigroup International Inc.
  • Tesla (TSLA) Germany registrations down 59.5% in January, according to eletric-vehicles.com
  • Timken (TKR) beats by $0.17, reports revs in-line; guides FY25 EPS below consensus
  • Tucows' (TCX) subsidiary, Wavelo, has renewed a four-year contract to provide its innovative solutions for EchoStar's Boost Mobile–a wireless carrier that stands for consumer choice, delivering simpler, more flexible plans and a reliable Boost Mobile Network, offering 99% coverage across the U.S. at the best value
  • Tutor Perini (TPC) announces that a joint venture between the Company and its subsidiary, Frontier-Kemper Constructors, has been awarded a design-build contract valued at approximately $1.18 bln by the Gateway Development Commission for the Manhattan Tunnel Project, a component of the Hudson Tunnel Project
  • Ultragenyx Pharma (RARE) announces new data demonstrating treatment with UX111 AAV gene therapy led to a statistically significant improvement in the Bayley-IIIi raw scores for the subdomains of cognition, receptive communication and expressive communication in patients with Sanfilippo syndrome type A compared to natural history data from untreated patients
  • Valneva's (VALN) chikungunya vaccine receives Marketing Authorization in the UK
  • Vaxcyte (PCVX) advances to second stage of ongoing phase 2 study evaluating VAX-31 for the prevention of invasive pneumococcal disease in infants
  • Vontier's (VNT) Driivz announces it has completed the Service Organization Control 2 Type II audit
  • Wal Mart (WMT) to eliminate hundreds of jobs, according to Fox Business
  • Western Union (WU) and Penny Pinch announce that they have launched international money transfer services in the Penny Pinch app

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

• Upgrades:
  • Cardinal Health (CAH) upgraded to Buy from Hold at Jefferies; tgt raised to $150
  • Chipotle Mexican Grill (CMG) upgraded to Strong Buy from Buy at CFRA; tgt raised to $73
  • Mattel (MAT) upgraded to Buy from Hold at Jefferies; tgt raised to $28
  • NXP Semi (NXPI) upgraded to Neutral from Sell at Citigroup; tgt raised to $210
  • Regeneron Pharma (REGN) upgraded to Outperform from Market Perform at Leerink Partners; tgt raised to $834
• Downgrades:
  • Ferrari (RACE) downgraded to Equal Weight from Overweight at Barclays
  • FMC Corp (FMC) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $47
  • Snap (SNAP) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $11
  • STMicroelectronics (STM) downgraded to Mkt Perform from Outperform at Bernstein
• Others:
  • Carnival (CCL) initiated with a Hold at Loop Capital; tgt $225
  • Intuitive Machines (LUNR) initiated with an Underperform at BofA Securities; tgt $16
  • Norwegian Cruise Line (NCLH) initiated with a Hold at Loop Capital; tgt $26
  • Palvella Therapeutics (PVLA) initiated with a Buy at TD Cowen; tgt $44
  • Robinhood Markets (HOOD) initiated with a Mkt Perform at Raymond James
  • Royal Caribbean (RCL) initiated with a Hold at Loop Capital; tgt $250
  • Viking Holdings Ltd (VIK) initiated with a Buy at Loop Capital; tgt $55

• Econ Data (Thursday):
  • 8:30 ET: Preliminary Q4 Productivity (actual 0.8%; prior 2.2%) and Unit Labor Costs (Briefing.com consensus 2.6%; prior 0.8%), weekly Initial Claims (Briefing.com consensus 213,000; prior 207,000), and Continuing Claims (prior 1.858 mln)
  • 10:30 ET: Weekly natural gas inventories (prior -321 bcf)
• Earnings:
  • Monday (Feb 3)
    • Pre-Market: IDXX NSSC SAIA TWST TSN
    • After-Hours: ACM BRBR CBT CSWC CLX EQR EG FN DOC JJSF KFRC KD MTG NJR NXPI PLTR RMBS TEM SNCY WWD
  • Tuesday (Feb 4)
    • Pre-Market: AMCR AME APO ARMK ADM ATI ATKR BALL BERY CNC CNH CMI ENR EPD EL FOXA IT GPK HLNE HUBB INGR INMD J KKR LANC MPC MRK MPLX MSGS OCSL PYPL PNR PEP PFE PJT PINC REGN SLAB SPOT TDG UBS WEC WTW XYL
    • After-Hours: EGHT ATEN AMD ALGT GOOG DOX AFG AMGN APAM AZPN ATO AZEK CSL CMG CRUS COLM DEI DXC EA ENVA ENPH ESS FICO FMC GBDC HRB THG ICHR IEX INTA JKHY JNPR KLIC LUMN MTCH MAT MRCY MOD MDLZ MWA NOV OI OMC OSCR PRU SPG SKY SNAP UNM VRNS VLTO VOYA WU ZWS
  • Wednesday (Feb 5)
    • Pre-Market: ARCC ARES AZTA TECH BSX BG CPRI CDW COR CRTO DAY EMR EVR FSV FI GSK GFF HOG ITW JCI KMT NYT ODFL PFGC REYN RXO SR SARO SWK TROW TKR UBER VSH DIS YUM
      
    • After-Hours: AFL ALGN ALL AOSL ARM ASGN AVB BKH BV CENT CTSH COHR CNMD CPAY CTVA CCK CSGS DLX DHT DGII APPS ENS NVST EQH FR F FORM GL HI HP HOLX HMN PI KMPR RAMP MCK MET MSTR MAA MC MOH MUSA MKL NTGR NWSA ORLY OHI PYCR PTC PTEN QGEN RDN RYN RRX REXR SAFE SIMO SITM SWKS STE STC SU SYM TENB TTMI UDR UGI VKTX WEX WFRD
  • Thursday (Feb 6)
    • Pre-Market: WMS AGCO APD AB APTV MT ARW AZN BCE BDX BDC BWA BMY GOOS CLFD CMS COP DAR LLY EMBC ENTG EFX GTES HAE HSY HLT HON HII NSIT IDCC IQV ITT K KVUE LH LADR LNC LIN MTSI MKTX MCFT MMS MDU NVT OMCL OTEX PATK BTU PTON PM PBH RL RITM RBLX SNA SPB TPR THR TRI TW UAA VVV WMG XEL XPO YUMC ZBH
    • After-Hours: AFRM AMZN ATR BILL BYD CPT NET CNO CDP CUZ DOCS ELF EGP EHC ESE EXPE EXPO FTNT FBIN G GPRO HUBG ILMN LESL LITE MTD MCHP MTX MHK MPWR NBIX NMIH ONTO PCTY PECO PINS POST POWL POWI PFG PRO QLYS QNST REG RGA SKX SONO SSNC STEP SYNA TTWO VREX VRSN VSAT VCTR WERN
  • Friday (Feb 7)
    • Pre-Market: AVTR CBOE ROAD FLO FTV ULCC GPRE KIM NWL PWP PAA PRLB
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike