After Hours Report

The stock market had a choppy start to April and Q2. The major equity indices traded above and below prior closing levels as investors wait on tomorrow's tariff announcements and digest this morning's economic data. 

The market moved lower right out of the gate and selling increased in response to release of the ISM Manufacturing PMI (49.0%; Briefing.com consensus 49.8%; prior 50.3%). The report showed that manufacturing activity contracted in March while prices grew sharply for the second month in a row.

The data piled onto the market's growing fears about growth, which could translate into lower earnings prospects, that have been heightened by uncertainty on the tariff front. 

Turnaround action in the mega cap space led the market higher. Apple (AAPL 223.19, +1.06, +0.5%), Microsoft (MSFT 382.19, +6.80, +1.8%), and NVIDIA (NVDA 110.15, +1.77, +1.6%), which comprise nearly 20% of the S&P 500 in terms of market cap, were among the influential winners. 

Eight of the 11 S&P 500 sectors registered gains led by consumer discretionary (+1.1%), communication services (+1.0%), and technology (+1.0%). The health care (-1.8%) and financial (-0.2%) sectors were alone in the red at the close.

Treasuries settled with gains across the curve. The 10-yr yield dropped nine basis points to 4.16% and the 2-yr yield settled five basis points lower at 3.86%.

• Dow Jones Industrial Average: -1.3% YTD
• S&P 500: -4.2% YTD
• S&P Midcap 400: -5.9% YTD
• Russell 2000: -9.8% YTD
• Nasdaq Composite: -9.6% YTD

Reviewing today's economic data:

• March S&P Global US Manufacturing PMI - Final 50.2; Prior 49.8
• March ISM Manufacturing Index 49.0% (Briefing.com consensus 49.8%); Prior 50.3%
  • The key takeaway from the report is that there is a bad mix of decelerating activity, rising prices, and weakening employment for the manufacturing sector. It is the kind of mix that will stir talk of stagflation.
• February JOLTS - Job Openings 7.568 mln; Prior was revised to 7.762 mln from 7.740 mln
• February Construction Spending 0.7% (Briefing.com consensus 0.4%); Prior was revised to -0.5% from -0.2%
  • The key takeaway from the report is that the weakness in private residential spending was concentrated in multifamily construction.

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

• 7:00 ET: Weekly MBA Mortgage Index (prior -2.0%)
• 8:15 ET: March ADP Employment Change (Briefing.com consensus 120,000; prior 77,000)
• 10:00 ET: February Factory Orders (Briefing.com consensus 0.4%; prior 1.7%)
• 10:30 ET: Weekly crude oil inventories (prior -3.34 mln)

Overseas:

• Europe: DAX +1.7%, FTSE +0.7%, CAC +1.1%
• Asia: Nikkei +0.0%, Hang Seng +0.4%, Shanghai +0.4%

Commodities:

• Crude Oil -0.27 @ 71.21
• Nat Gas -0.16 @ 3.95
• Gold -2.90 @ 3146.60
• Silver -0.27 @ 34.33
• Copper -0.01 @ 5.03

After-Hours Spotlight:

• Arthur J. Gallagher (AJG) acquires Tresidder Insurance Brokers; financial terms were not disclosed... AJG down 2.8%
• Domo (DOMO) announces partnership with Weather Trends for real-time and year-ahead weather-driven sales forecasting... DOMO up 3.7%
• nCino (NCNO) misses by $0.07, reports revs in-line; guides Q1 EPS and revs below consensus; guides FY26 EPS and revs below consensus; authorizes a $100 mln share repurchase program... NCNO down 28.5%
• TTEC Holdings (TTEC): Update from TTEC Special Committee... TTEC up 16.2%

Fair Value for Wednesday, April 2:

• S&P 500: 5,677
• Nasdaq 100: 19,611
• DJIA: 42,272

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

• Earnings/Guidance (Full Earnings Calendar):
  • Celcuity Inc. (CELC) Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update
  • Ford Motor (F) reports Q1 total US sales -1.3% yr/yr to 501,291 vehicles
  • Freeport-McMoRan (FCX) provides Q1 operational update
  • Gorilla Technology Group (GRRR) reported earnings with outlook
  • Honda Motor's (HMC) American Honda reports March sales +13.2% yr/yr to 147,792
  • IAC Inc. (IAC) and Angi (ANGI) complete spin-off of IAC's full ownership stake in Angi
  • Li Auto (LI) reports March deliveries increased 26.5% yr/yr
  • Macy's (M) announces leadership team changes; Reiterates first quarter 2025 guidance
  • NIO (NIO) reports March deliveries increased 26.7% yr/yr
  • NUTEX HEALTH (NUTX) +45% in premarket trade after reporting fourth quarter results
  • Omeros Corporation (OMER) reported fourth quarter financial results
  • Open Lending (LPRO) reports Q4 (Dec) results
  • Progress Software (PRGS) beats by $0.25, beats on revs; guides Q2 EPS and revs above consensus; guides FY25 EPS above consensus, reaffirms FY25 revs guidance
  • PVH (PVH) beats by $0.06, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY26 EPS above consensus, revs above consensus; to repurchase $500 mln in 2025
  • Sportradar Group AG (SRAD) outlines growth strategy and financial outlook at Investor Day - targets include expectation to grow revenue at a 15% CAGR through 2027
  • TuHURA Biosciences, Inc. (HURA) reports financial results for fiscal year 2024 and provides corporate update
  • Volkswagen AG (VWAGY) reports Q1 US sales +7.1% yr/yr to 87.915 units
  • W.P. Carey (WPC) provides business update
  • XPeng (XPEV) reports March deliveries increased 268% yr/yr
  • ZEEKR Intelligent Technology Holding Limited (ZK) reports March deliveries increased 18.5% yr/yr
• General News
  • President Trump says he decided on plan for tomorrow's tariffs, but he won't announce it until tomorrow, according to the Wall Street Journal
  • White House has drafted plan to impose 20% tariffs on most imports. Details will be announced tomorrow. President Trump is also considering using tariff revenue to finance tax rebate to Americans, according to the Washington Post
  • Senate resolution to terminate President Trump's tariffs on Canada is expected to get 51 votes, but it will not be brought up for a vote in the House, according to Politico
  • President Trump not expected to announce pharma specific tariffs tomorrow, according to Reuters
  • Commerce Secretary Howard Lutnick could withhold chip funding, according to Bloomberg
  • President Trump says he wants softer auto emissions standards, according to Bloomberg
  • Macau Gaming Inspection and Coordination Bureau reported March gross revs 0.8% yr/yr to HKD 19.659 bln versus +53% in March of 2024
  • UK CMA confirms Car industry settled competition law case
  • President Trump still discussing tariff options with advisors; three options are being considered; will announce tariffs tomorrow at 4:00 PM ET - CNBC
  • EU mulling target large US technology companies in response to tariffs, according to Washington Post
  • Andreessen Horowitz in discussions to help with TikTok US purchase, according to FT
  • Upcoming EPA biofuel blending mandate will cover two years, according to Reuters
  • Fox News reporter Jacqui Heinrich says "President Trump is frustrated with Putin and is considering aggressive sanctions enforcement including Russian shadow fleet"
  • Alkermes (ALKS) Announces Initiation of Vibrance-3 Phase 2 Study Evaluating ALKS 2680 for the Treatment of Idiopathic Hypersomnia
  • Allstate (ALL) completes the sale of its Employer Voluntary Benefits business to StanCorp Financial Group (The Standard) for $2.0 bln; generated financial book gain of about $625 mln
  • Agnico-Eagle Mines (AEM) has acquired 2,602,500 common shares of Rupert Resources Ltd. (RUPRF) in a non-brokered private placement at a price of C$4.50 per Common Share for total consideration of C$11,711,250
  • Apellis Pharmaceuticals (APLS) announces that the U.S. FDA has accepted and granted Priority Review designation of the supplemental New Drug Application for EMPAVELI for C3 glomerulopathy and primary immune complex membranoproliferative glomerulonephritis, which are severe and rare kidney diseases
  • Apple (AAPL): Labor watchdog froze two cases against Apple, according to FT
  • Aquestive Therapeutics (AQST) announces positive topline PK results from its pediatric study and completes the NDA Submission for Anaphylm sublingual film
  • Ardent Health Partners (ARDT) appoints Dave Caspers as COO
  • Ascendis Pharma (ASND) submits its New Drug Application to the U.S FDA for TransCon CNP (navepegritide) for the treatment of children with achondroplasia
  • Atea Pharmaceuticals (AVIR) received notice from Driver Opportunity Partners III withdrawing its prior notice that it intended to nominate J. Abbott R. Cooper to stand for election to the Company’s Board of Directors at the Company’s 2025 Annual Meeting of Stockholders
  • Avista (AVA) requests price adjustment in Washington; files 2025 Natural Gas Integrated Resource Plan
  • Axsome Therapeutics (AXSM) announces topline results of Paradigm phase 3 proof-of-concept trial of Solriamfetol in major depressive disorder with and without excessive daytime sleepiness
  • B2Gold (BTG) announces TSX approval for normal course issuer bid
  • Banco Macro (BMA) appoints Juan Parma as CEO
  • BigCommerce (BIGC) CTO Brian Dhatt to depart, effective April 30; Marcus Groff, Senior Vice President of Engineering, will assume Mr. Dhatt's engineering related duties and responsibilities
  • Boeing (BA) awarded $2.46 bln U.S. Air Force contract modification
  • Boeing (BA): Wing production impacting Boeing's efforts to increase 737 Max production, according to Air Current
  • Bombardier (BDRBF) confirms that its new normal course issuer bid will commence on April 3, 2025
  • BRP Inc. (DOOO) and Bryton Marine Group enter agreement for the sale of Alumacraft; financial terms were not disclosed
  • CACI Intl (CACI) and the United States Military Academy enter cooperative research and development agreement to advance electronic warfare technologies
  • Calix Networks (CALX) is partnering with alternative network provider GoFibre to redefine residential broadband in Scotland and northern England
  • Cango (CANG) announces March 2025 production update for crypto mining business
  • CEMEX S.A. (CX) CEO begins tenure
  • Comcast (CMCSA) Business has completed its acquisition of Nitel international private equity firm Cinven
  • Compass Therapeutics (CMPX) Tovecimig meets primary endpoint in the ongoing randomized phase 2/3 study in patients with biliary tract cancer
  • Conagra (CAG) to collaborate with Bloom Energy to use fuel cell technology at two facilities
  • Duke Energy's (DUK) largest nuclear plant receives approval to extend operations; supports growing energy demand, helps keep customer costs as low as possible
  • Eli Lilly (LLY) is targeting companies that make copycat versions of its weight loss drug, according to Bloomberg
  • Ellington Credit Company (EARN) completed conversion to a Delaware-domiciled closed-end fund
  • Embraer SA (ERJ): Sweden confirms acquisition of four C-390 Millennium and secures production slots from Embraer
  • Endeavour Silver (EXK) produces first batch of concentrate at the Terronera Mine; remains on track for wet commissioning in early Q2
  • Endeavour Silver (EXK) has decided to upsize its previously announced bought deal of common shares
  • Estee Lauder (EL) to face a lawsuit over concealing overdependence on gray-market sales in China, according to Reuters
  • Eton Pharmaceuticals (ETON): ESTEVE signs a licensing agreement for a severe primary insulin-like growth factor 1 deficiency treatment
  • First Majestic Silver (AG) reports record 2024 mineral resources & 45% growth in reserves
  • Fluor (FLR) announces that its infrastructure business has been awarded the construction contract for the State Highway 6 (SH 6) project in College Station, Texas, by the Texas Department of Transportation; co will recognize the $671 million bid-build contract in the first quarter of 2025
  • FMC Corp (FMC) announces an agreement with Bayer (BAYRY) to commercialize products containing Isoflex active in the European Union and Great Britain
  • F.N.B. Corp (FNB): Atomic announces a $10 mln strategic investment with participation from Capital One Ventures, Citi Ventures, and F.N.B. Corporation
  • General Motors (GM) reports Q1 US sales +17% yr/yr to 693,363 units
  • Goldman Sachs (GS): Atlas-SSI Holdings announces its acquisition by the Sustainable Investing team at Goldman Sachs Alternatives
  • Grupo Aeroportuario del Pacifico (PAC) extends $60.0 mln credit line
  • Himalaya Shipping Ltd. (HSHP) announced that Lars-Christian Svensen has commenced his role as Contracted Chief Executive Officer of Himalaya Shipping Ltd. on April 1, 2025
  • Hims & Hers Health (HIMS) is expanding access to personalized weight loss care
  • Hyundai Motor (HYMTF) warns U.S. dealers it will evaluate pricing strategy, potentially hiking prices come 25% tariffs on imported vehicles and parts, according to Reuters
  • IMAX (IMAX) and AMC Entertainment (AMC) announce an expansive agreement to grow their longstanding partnership and deploy IMAX with Laser technology across more than 180 IMAX at AMC locations in the United States
  • InfuSystem (INFU) announces CEO transition; Carrie Lachance to become CEO; reaffirms FY25 revenue guidance
  • INmune Bio Inc. (INMB) presents baseline demographics and disease profiles of participants in the MINDFuL Phase II Study
  • Interactive Brokers (IBKR) launches prediction markets in Canada
  • Interactive Brokers (IBKR) reports brokerage metrics and other financial information for March 2025; 3.471 million DARTs, 44% higher than prior year and 4% lower than prior month
  • Interactive Brokers launches prediction markets in Canada
  • Jack In The Box (JACK) names Lance Tucker as its CEO; he had served as interim CEO since February 2025
  • Johnson & Johnson (JNJ) to Return to Tort System to Defeat Meritless Talc Claims
  • Johnson & Johnson (JNJ) bankruptcy effort for talc claims rejected by federal judge, according to Bloomberg
  • Johnson & Johnson's (JNJ) talcum powder products, U.S. Bankruptcy Court Judge Christopher Lopez has rejected the company’s third attempt to shield itself from liability through bankruptcy
  • Keysight (KEYS) unveils architecture for scaling AI data centers
  • Keysight (KEYS) introduces AI data center builder to validate and optimize network architecture and host design
  • Kulicke & Soffa (KLIC) winding down Electronics Assembly business
  • Live Nation (LYV) and Vivid Seats (SEAT) ticking lower after President Trump plans to sign EO targeting ticket scalping, according to Reuters
  • Lockheed Martin (LMT) awarded $600 mln U.S. Air Force contract modification
  • Lockheed Martin (LMT) completes the delivery of the 51st and 52nd F-35As to the Royal Norwegian Air Force, making Norway the first F-35 partner nation to fulfill its program of record
  • Lockheed Martin (LMT): President Trump preparing executive order to increase exports of DOD weapons, according to Reuters
  • Lockheed Martin (LMT): State Department has made a determination approving a possible foreign military sale to the Government of the Philippines of F-16 aircraft for an estimated cost of $5.58 bln
  • Mercury (MRCY) COO Charles R. Wells, IV informed the Company that he will be departing for a chief executive officer role at a privately held company
  • Meta (META) CEO Mark Zuckerberg wants President Trump to fight against EU fines, according to the Wall Street Journal
  • Meta Platforms (META): Joelle Pineau confirms she will leave META on May 30
  • Meta Platforms' (META) Head of AI Research departing from the Company, according to Bloomberg
  • Mirion Technologies (MIR) awarded contracts for TerraPower Natrium Reactor demonstration project
  • MSG Sports (MSGS), Madison Square Garden Entertainment (MSGE), and Sphere Entertainment (SPHR) announce a partnership with Liquid Death, naming the beverage company an Official Partner across the MSG Family of Companies
  • NeoGenomics (NEO) announces that Tony Zook has officially assumed the role of Chief Executive Officer
  • On (ONON) updates leadership structure
  • Open Lending (LPRO) appoints Board Chair Jessica Buss as CEO, effective immediately; Michelle Glasl named COO
  • Organon (OGN) acquires regulatory and commercial rights in the US for TOFIDENCE
  • Orla Mining (ORLA) announced the start of the 2025 exploration drilling program at the Company’s recently acquired Musselwhite Mine in Northwestern Ontario
  • Pfizer (PFE) receives EC approval for ABRYSVO
  • PVH (PVH) intends to enter into $500 million accelerated share repurchase agreements
  • Qualcomm (QCOM) expands generative AI capabilities with acquisition of VinAI division
  • Roblox (RBLX) launches rewarded video ads, partners with Google (GOOG, GOOGL) to scale immersive advertising
  • Samsung (SSNLF) announces new leadership at DX Division
  • Sanofi's (SNY) rilzabrutinib, a treatment of immunoglobulin G4-related disease, granted FDA orphan status
  • Sterling Bancorp, Inc. (SBT) announced the closing of acquisition of Sterling Bank and Trust, F.S.B. by EverBank Financial; Certificate of dissolution to be filed and common stock to be delisted
  • SJW (SJW) promotes Ann Kelly to CFO
  • Softbank (SFTBY) makes announcement regarding follow-on investments in OpenAI
  • STMicroelectronics (STM) and Innoscience sign GaN technology development and manufacturing agreement
  • StoneX Group (SNEX) announces the launch of a new shell egg contract utilizing a global Price Reporting Agency benchmar
  • TechTarget (TTGT) and Demandbase announces a strategic partnership designed to help mutual customers drive better business outcomes and ROI from account-based marketing initiatives
  • Teleflex (TFX) receives FDA 510(k) Clearance of the AC3 Range Intra-Aortic Balloon Pump
  • Telix Pharmaceuticals (TLX) announces first patient dosed in first-in-human ZOLAR Trial of TLX300-CDx in Advanced Soft Tissue Sarcoma
  • Tesla (TSLA) car sales in France & Norway fall to lowest level in 4 years, according to Reuters
  • Timken (TKR) CEO Tarak B. Mehta departing, effective immediately; Richard G. Kyle appointed interim president and CEO
  • T-Mobile US (TMUS) and EQT (EQBBF) announces the successful close of their joint venture to acquire fiber-to-the-home provider Lumos
  • Toyota Motor (TM) reports March 2025 U.S. sales of 231,335 vehicles, up 7.7 percent on a volume basis and up 11.8 percent on a daily selling rate (DSR) basis versus March 2024
  • Tyler Tech (TYL) announces an agreement with the Virginia Cannabis Control Authority for Tyler’s Cannabis Licensing solution to improve the regulation of its medical cannabis program
  • U.S. Steel (X): Howard Lutnick holding meeting with rival bidders for US Steel, according to Bloomberg
  • U.S. Steel (X): Nippon Steel exec will meet with Commerce Secretary Howard Lutnick regarding US Steel acquisition, according to Semafor
  • Valaris (VAL) awarded two-year contract offshore West Africa for drillship VALARIS DS-10 valued at $352 mln
  • Valneva SE (VALN) announces that the European Commission has granted marketing authorization in Europe for Valneva’s single-dose vaccine, IXCHIQ, for the prevention of disease caused by the chikungunya virus in individuals 12 years of age and older
  • Visa (V) discloses it authorized the deposit of $375 million into the U.S. litigation escrow account previously established under the company's U.S. retrospective responsibility plan
  • Vuzix (VUZI) received a $500K reorder for its smart glasses from Augmex (order follows an initial low six-figure one received in December 2024)
  • Willis Towers Watson (WTW)  announces the acquisition of Global Commercial Credit, into Willis, a WTW business; financial terms were not disclosed
  • WNS (WNS) mulling a sale amid takeover interest, according to Reuters
  • ZoomInfo (ZI): PathFactory announces the launch of its strategic integration with ZoomInfo that will transform how B2B marketers understand and engage with website visitors

• Upgrades:
  • AutoZone (AZO) upgraded to Neutral from Sell at Goldman, tgt $3,811
  • Enova International (ENVA) upgraded to Buy from Hold at TD Cowen, tgt $17
  • First of Long Island (FLIC) upgraded to Outperform from Market Perform at Keefe Bruyette
  • First Watch Restaurant (FWRG) upgraded to Buy from Hold at TD Cowen, tgt $22
  • Keurig Dr Pepper (KDP) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $40
  • Nayax (NYAX) upgraded to Outperform from Market Perform at William Blair
  • Sabre (SABR) upgraded to Market Perform from Underperform at Bernstein, tgt $3.50
  • Shake Shack (SHAK) upgraded to Buy from Hold at Loop Capital, tgt $127
  • Ulta Beauty (ULTA) upgraded to Buy from Neutral at Goldman, tgt $423
• Downgrades:
  • American Airlines (AAL) downgraded to Hold from Buy at Jefferies, tgt $12
  • Cemig (CIG) downgraded to Underperform from Neutral at BofA Securities
  • Delta Air Lines (DAL) downgraded to Hold from Buy at Jefferies, tgt $46
  • Genmab (GMAB) downgraded to Underperform from Market Perform at Bernstein
  • Genuine Parts (GPC) downgraded to Sell from Neutral at Goldman, tgt $114
  • Kroger (KR) downgraded to Sell from Hold at Melius Research, tgt $58
  • Rogers Communications (RCI) downgraded to Sector Perform from Outperform at Scotiabank
  • Southwest Airlines (LUV) downgraded to Underperform from Hold at Jefferies, tgt $28
  • Vipshop (VIPS) downgraded to Neutral from Buy at Citigroup, tgt $18
  • W. R. Berkley (WRB) downgraded to Neutral from Buy at BofA Securities, tgt $74
• Others:
  • Advanced Drainage (WMS) initiated with a Buy at Deutsche Bank, tgt $134
  • Aeva Technologies (AEVA) initiated with a Buy at Canaccord Genuity, tgt $9.50
  • Akebia Therapeutics (AKBA) initiated with a Buy at Jefferies, tgt $6
  • American Tower (AMT) assumed at Overweight from Equal Weight at Morgan Stanley, tgt $250
  • Arbe Robotics (ARBE) initiated with a Buy at Canaccord Genuity, tgt $1.75
  • Arcos Dorados (ARCO) initiated with a Buy at BTG Pactual, tgt $10.50
  • BlackLine (BL) initiated with a Buy at DA Davidson, tgt $58
  • Builders FirstSource (BLDR) initiated with a Buy at Deutsche Bank, tgt $151
  • Cameco (CCJ) initiated with an Outperform at Bernstein, tgt $52
  • Check Point (CHKP) initiated with an Equal Weight at Stephens, tgt $255
    
  • Core & Main (CNM) initiated with a Buy at Deutsche Bank, tgt $60
  • CrowdStrike (CRWD) initiated with an Overweight at Stephens, tgt $450
  • Cullen/Frost (CFR) initiated with an Equal Weight at Barclays, tgt $130
  • CyberArk (CYBR) initiated with an Overweight at Stephens, tgt $440
  • Daimler Truck (DTRUY) initiated with an Underperform at Bernstein
  • Ferguson (FERG) initiated with a Hold at Deutsche Bank, tgt $174
  • Fortinet (FTNT) initiated at Equal Weight at Stephens, tgt $108
  • Fortune Brands Innovations (FBIN) initiated with a Hold at Deutsche Bank, tgt $70
  • Griffon (GFF) initiated with a Buy at Deutsche Bank, tgt $91
  • Installed Building Products (IBP) initiated with a Hold at Deutsche Bank, tgt $183
  • Knot Offshore Partners (KNOP) initiated with a Buy at Fearnley
  • Masco (MAS) initiated with a Hold at Deutsche Bank, tgt $71
  • Mohawk Industries (MHK) initiated with a Hold at Deutsche Bank, tgt $121
  • MongoDB (MDB) initiated with an Outperform at Daiwa, tgt $202
  • New Jersey Resources (NJR) initiated with a Hold at Jefferies, tgt $51
  • Okta (OKTA) initiated with an Equal Weight at Stephens, tgt $127
  • On Holding (ONON) initiated with a Hold at Jefferies, tgt $44
  • Owens Corning (OC) initiated with a Buy at Deutsche Bank, tgt $183
  • Palantir (PLTR) initiated with a Neutral at Daiwa, tgt $90
  • Palo Alto Networks (PANW) initiated with an Equal Weight at Stephens, tgt $205
  • Pool Corp (POOL) initiated with a Hold at Deutsche Bank, tgt $344
  • Rapid7 (RPD) initiated with an Equal Weight at Stephens, tgt $33
  • Rezolve AI (RZLV) initiated with a Buy at H.C. Wainwright, tgt $4
  • SBA Communications (SBAC) assumed at Equal Weight from Overweight at Morgan Stanley, tgt $240
  • SentinelOne (S) initiated with an Overweight at Stephens, tgt $25
  • SiteOne Landscape (SITE) initiated with a Hold at Deutsche Bank, tgt $135
  • Snowflake (SNOW) initiated with a Buy at Daiwa, tgt $210
  • South State (SSB) initiated with an Overweight at Barclays, tgt $120
  • Tenable (TENB) initiated with an Equal Weight at Stephens, tgt $42
  • TopBuild (BLD) initiated with a Buy at Deutsche Bank, tgt $356
  • Trex Company (TREX) initiated with a Buy at Deutsche Bank, tgt $85
  • Volvo (VLVLY) initiated with an Underperform at Bernstein
  • Zscaler (ZS) initiated with an Overweight at Stephens, tgt $255

• Econ Data (Wednesday):
  • 7:00 ET: Weekly MBA Mortgage Index (prior -2.0%)
  • 8:15 ET: March ADP Employment Change (Briefing.com consensus 120,000; prior 77,000)
  • 10:00 ET: February Factory Orders (Briefing.com consensus 0.4%; prior 1.7%)
  • 10:30 ET: Weekly crude oil inventories (prior -3.34 mln)
• Earnings:
  • Monday (Mar 31)
    • Pre-Market: LOAR
    • After-Hours: LPRO PRGS PVH TTGT
  • Tuesday (April 1)
    • Pre-Market: None
    • After-Hours: NCNO
  • Wednesday (April 2)
    • Pre-Market: ANGO CGNT UNF
      
    • After-Hours: BB PENG RH
  • Thursday (April 3)
    • Pre-Market: AYI CAG LW LNN MSM
    • After-Hours: GES SLP
  • Friday (Mar 28)
    • Pre-Market: None
    • After-Hours: None
  General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike