After Hours Report

The stock market entered today with a rebound on its mind, and that is precisely what it achieved, making up the entirety of yesterday's losses and then some. There wasn't a news trigger for the early gains, yet that changed in the early afternoon when Bloomberg reported that Treasury Secretary Bessent said he expects the China tariff situation to de-escalate.

That news fostered some hope that the current trade impasse between the U.S. and China will get resolved, although it would be remiss not to add that negotiations haven't even started and that there was no substance to today's comments. It was simply a change in tone that registered for a market that was already up sharply. In fact, the vast majority of today's gains were logged before the Bessent report.

The initial rally effort was aided by short-covering activity and contrarian-minded buying interest driven by reports of a pervasive bearish mindset. To that end, the level of bearish sentiment among individual investors has exceeded 50% for eight straight weeks, which is the longest such streak for records dating back to 1987, according to the American Association of Individual Investors.

The rebound bid also gathered momentum with the U.S. Dollar Index (+0.7% to 98.97) rallying and the 10-yr note yield sliding two basis points to 4.39% despite a weak 2-yr note auction. Those moves took a little of the edge off the "sell America" trade that seemingly undid the market in Monday's trade when the Dow, Nasdaq, and S&P 500 declined 971, 415, and 124 points, respectively.

The mega-cap stocks were key drivers of the broader market today, paced by Tesla (TSLA 237.97, +10.47, +4.6%) ahead of its earnings report after today's close. Notably, they weren't the only drivers -- far from it. Advancers trounced decliners by a nearly 9-to-1 margin at the NYSE and by a better than 4-to-1 margin at the Nasdaq.

The market cap-weighted S&P 500 and equal-weighted S&P 500 both finished up 2.5%. Moreover, all 11 S&P 500 sectors logged solid gains. Eight sectors were up at least 2.1%.

The biggest movers were the financial (+3.3%) and consumer discretionary (+3.2%) sectors. The industrials sector (+1.8%) was a relative laggard, held back somewhat by losses in Northrop Grumman (NOC 464.00, -67.33, -12.7%) and RTX Corp (RTX 113.90, -12.14, -9.6%) following their earnings reports.

There was no U.S. economic data of note today.

• Dow Jones Industrial Average: -7.6% YTD
• S&P 500: -10.1% YTD
• S&P Midcap 400: -11.9% YTD
• Nasdaq Composite: -15.6% YTD
• Russell 2000: -15.2% YTD

A look at Wednesday's economic data:

• 07:00 ET: Weekly MBA Mortgage Index (prior -8.5%)
• 09:45 ET: Flash April S&P Global US Manufacturing PMI (prior 50.2) and flash S&P Global US Services PMI (prior 54.4)
• 10:00 ET: March New Home Sales (Briefing.com consensus 684,000; prior 676,000)
• 10:30 ET: Weekly crude oil inventories (prior +515,000)

Overseas:

• Europe: DAX +0.3%, FTSE +0.6%, CAC +0.6%
• Asia: Nikkei -0.2%, Hang Seng +0.8%, Shanghai +0.3%

Commodities:

• Crude Oil +1.17 @ 63.62
• Nat Gas -0.01 @ 3.01
• Gold -8.30 @ 3418.60
• Silver +0.46 @ 32.91
• Copper +0.12 @ 4.84

After-Hours Spotlight:

• Capital One (COF) beats by $0.42, reports revs in-line; set to complete Discover acquisition on May 18... COF up 0.4%
• Enphase Energy (ENPH) misses by $0.03, misses on revs; guides Q2 revs in-line... ENPH down 11.8%
• Intuitive Surgical (ISRG) beats by $0.07, beats on revs, procedure growth of +17%; raises FY25 procedure growth forecast, lowers margin guidance... ISRG down 6.8%
• Oklo Inc. (OKLO) announces that Sam Altman will step down as Chairman of the Board... OKLO down 11.5%
• Pegasystems (PEGA) reports Q1 (Mar) results... PEGA up 23.2%
• SAP SE (SAP) beats by EUR 0.14, misses on revs; provides FY25 guidance... SAP up 6.4%
• Steel Dynamics (STLD) beats by $0.06, beats on revs; order entry activity improved in Q1, but has seen some uncertainty from certain customers related to recent trade actions... STLD up 4.1%
• Tesla (TSLA) misses by $0.14, misses on revs, total automotive revenue down 20%; Reiterates that Cybercab is scheduled for volume production starting in 2026... TSLA up 0.7%

Fair Value for Tuesday, April 23:

• S&P 500: 5,315
• Nasdaq 100: 18,384
• DJIA: 39,946

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

• Earnings/Guidance (Full Earnings Calendar):
  • 3M (MMM) beats by $0.11, reports revs in-line, organic sales growth of 1.5%; guides FY25 EPS in-line
  • Atkore International (ATKR) guides Q2 numbers above consensus, reiterates FY25 guidance; records impairment related to HDPE Pipe & Conduit assets; reaches agreement with United Steelworkers
  • AZZ (AZZ) reports EPS in-line, misses on revs; reaffirms FY26 EPS guidance, revs guidance
  • BOK Financial (BOKF) misses by $0.13, misses on revs
  • Cadence Bank (CADE) beats by $0.07, reports revs in-line
  • Calix Networks (CALX) beats by $0.06, beats on revs; guides Q2 EPS above consensus, revs above consensus; authorizes the repurchase of up to an additional $100 mln of its common stock; brings total to $300 mln
  • Cathay Bancorp (CATY) beats by $0.03
  • Danaher (DHR) beats by $0.25, beats on revs; guides FY25 EPS in-line
  • Elevance Health (ELV) beats by $0.56, beats on revs; reaffirms FY25 EPS guidance
  • Equifax (EFX) beats by $0.12, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY25 EPS in-line, revs in-line; announces buyback and dividend increase
  • Equity Lifestyle Properties (ELS) reports FFO in-line, beats on revs; guides Q2 FFO in-line; guides FY25 FFO in-line
  • GE Aerospace (GE) beats by $0.22; guides FY25 EPS in-line
  • Genuine Parts (GPC) beats by $0.07, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
  • Halliburton (HAL) reports EPS in-line, beats on revs
  • Herc Holdings (HRI) misses by $0.91, beats on revs; Provides FY25 guidance, excluding Cinelease
  • Hexcel (HXL) misses by $0.06, misses on revs; lowers FY25 EPS and revenue guidance
  • Hope Bancorp (HOPE) misses by $0.01, beats on revs
  • Invesco (IVZ) beats by $0.06, beats on revs; announces $1 bln repurchase of preferred stock held by MassMutual
  • Iridium Communications (IRDM) beats by $0.05, beats on revs; Reiterates FY25 and long-term guidance
  • Kimberly-Clark (KMB) beats by $0.03, misses on revs; lowers FY25 adj. free cash flow outlook
  • Lockheed Martin (LMT) beats by $0.94, beats on revs; reaffirms FY25 EPS guidance, guides FY25 revs in-line
  • Medpace (MEDP) beats by $0.61, beats on revs; guides FY25 EPS above consensus, revs in-line
  • Moody's (MCO) beats by $0.31, beats on revs; guides FY25 EPS in-line
  • MSCI (MSCI) beats by $0.08, reports revs in-line
  • Northern Trust (NTRS) beats by $0.05, reports revs in-line
  • Northrop Grumman (NOC) misses by $0.18, misses on revs; guides FY25 EPS below consensus, revs in-line
  • NVR (NVR) misses on EPS, reports revs in-line
  • Oxford Industries (OXM) discloses update on tariff impacts
  • Pentair (PNR) beats by $0.10, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY25 EPS in-line, revs above consensus
  • PLDT (PHI) reported that Maya Innovations Holdings (PLDT holds an approximate 37.7% equity stake) announced Q1 profitability
  • PulteGroup (PHM) beats by $0.14, beats on revs
  • Quest Diagnostics (DGX) misses by $0.21, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
  • RTX (RTX) beats by $0.12, beats on revs; guides FY25 EPS in-line
  • Sunrise Realty Trust (SUNS) reports preliminary estimate of distributable earnings for the quarter ended March 31, 2025 is $0.30 to $0.32 per basic weighted average common share vs $0.30 prior quarter
  • Synchrony Financial (SYF) beats by $0.22; Also increases quarterly cash dividend by 20% and approves a share repurchase program of up to $2.5 bln
  • United Comm Banks (UCB) beats by $0.02, reports revs in-line
  • Valmont (VMI) misses by $0.04, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
  • Verizon (VZ) beats by $0.04, reports revs in-line; reaffirms FY25 EPS guidance
  • Western Alliance Bancorp (WAL) beats by $0.01, net interest income decreased 2.4% yr/yr
  • Wintrust Fin (WTFC) beats by $0.20, reports revs in-line
  • W.R. Berkley (WRB) beats by $0.03
  • Zions Bancorp (ZION) misses by $0.06, net interest income increased 6%
• General News
  • Japanese investors sold $20 bln of international debt following tariffs, according to Financial Times
  • President Trump will likely blame Fed Chairman Jerome Powell for any economic downturn, but it is unclear if he will fire him, according to the Wall Street Journal
  • President Trump had "productive" meeting with various retail executives, CNBC
  • USTR Ambassador Greer issues statement on trade negotiation progress with India; says "USTR and India’s Ministry of Commerce and Industry have finalized the terms of reference to lay down a roadmap for the negotiations on reciprocal trade"
  • US Trade office announces final affirmative determinations in the antidumping and countervailing duty investigations of crystalline photovoltaic cells whether or not assembled into modules from Cambodia, Malaysia, Thailand, and the Socialist Republic of Vietnam
  • Aclaris Therapeutics (ACRS) announces that the U.S. FDA has cleared its Investigational New Drug application for a Phase 1a/1b clinical trial of ATI-052, a potential best-in-class bispecific anti-TSLP/IL-4R monoclonal antibody
  • Treasury Secretary Bessent expects China tariff issue to de-escalate - Bloomberg
  • FERC Commissioner Willie Phillips to step down, according to Politico
  • White House close to agreements with India and Japan to prevent tariffs, but final trade deal could take months, according to Politico (Note: White House press briefing starts shortly)
  • Russia President Putin has offered to halt his invasion of Ukraine across the current front line as part of peace deal with President Trump, according to FT
  • Treasury Secretary Scott Bessent could offer Argentina a credit line, according to Bloomberg
  • Alaska Air (ALK) and Hawaiian Airlines are integrating airport spaces across several key airports as part of a network-wide initiative aimed at streamlining operations and delivering a more seamless and efficient travel experience for guests
  • Alphabet (GOOG): Assistant Attorney General Gail Slater delivers remarks before opening arguments in Google search remedies trial
  • Alphabet (GOOG): Next steps for Privacy Sandbox and tracking protections in Chrome
  • Alphabet (GOOG): OpenAI interested in purchasing Chrome if courts order a spin off, according to Bloomberg
  • Amazon (AMZN): The Trump administration wants India to give Amazon and Wal Mart (WMT) full access to markets, according to Financial Times
  • Amazon (AMZN) VP of Global Data Centers Kevin Miller says on LinkedIn "This is routine capacity management, and there haven’t been any recent fundamental changes in our expansion plans"
  • Appian (APPN) announces appointment of Serge Tanjga as CFO, effective May 27, 2025
  • Apple (AAPL): EU will impose Digital Markets Act fines on AAPL and Meta (META) tomorrow, according to Handelsblatt
  • AstraZeneca (AZN) reports Enhertu combination improved PFS in 1L HER2+ mBC
  • Axon (AXON) announces new fixed ALPR camera solutions and next-gen AI advancements to expand real-time public safety ecosystem
  • Barrick (GOLD) explores sale of its Hemlo gold mine in Canada, according to Bloomberg
  • Booz Allen Hamilton (BAH): Consulting firms are offering $20 bln in savings to federal contracts, according to WSJ
  • BP (BP): Elliott Management confirms 5.006% stake; FT also reporting Elliott plans to push for big spending cuts
  • Capital Southwest Corp.'s (CSWC) subsidiary, Capital Southwest SBIC II, LP, receives license from Small Business Administration to operate as a Small Business Investment Company
  • Comcast's (CMCSA) Xfinity Mobile introduced a new Premium Unlimited plan that delivers gigabit speeds and upgraded features
  • Daqo New Energy's (DQ) subsidiary Xinjiang Daqo provides latest updates on its litigation event; plaintiffs further reduced the requested amount of compensation from Xinjiang Daqo to RMB742.7 million
  • Delta Air Lines (DAL): FAA investigating engine fire on Delta Air Lines (DAL) Flight 1213
  • Deluxe (DLX) announces that its ReceivablesR360+ platform is fully ISO 20022 enabled
  • Devon Energy (DVN) announces its business optimization plan to improve margins and capital efficiency, growing free cash flow generation and driving significant shareholder value
  • Douglas Emmett (DEI) determined that Dan A. Emmett, Chairman of the Board, will not stand for reelection at the 2025 annual meeting of stockholders
  • Dow (DOW) and X-Energy Reactor Company announced the submission of a construction permit application to the NRC for a proposed advanced nuclear project in Seadrift, Texas
  • enCore Energy Corp. (EU) terminated COO Peter Luthiger on April 17
  • enCore Energy (EU) continues wellfield expansion at the Alta Mesa uranium project; announces Senior Vice President of Operations
  • Evolent Health (EVH) names Shawn Guertin as new independent nominee for election to its Board of Directors
  • First Financial Northwest (FFNW) declared an initial liquidating distribution pursuant to its previously announced Plan of Dissolution in the amount of $22.00 per share, or approximately $203 million
  • Galapagos NV (GLPG) announces Paul Stoffels, Chair and CEO of Galapagos, plans to retire as CEO upon appointment of successor in the next 12 months and plans to continue as Chair of the Board of Directors, ensuring leadership continuity and long-term strategic guidance
  • Gilat Satellite (GILT) receives over $15 mln in orders from satellite operators
  • Google (GOOG, GOOGL) paid Samsung (SSNLF) for Gemini application installs, according to Bloomberg
  • Google (GOOG, GOOGL) aiming to shift Pixel production to India from Vietnam, according to Economic Times
  • Hims & Hers Health (HIMS) COO Melissa Baird to transition into an advisory role in the coming months
  • Hims & Hers Health (HIMS): FDA alerts health care providers, compounders and consumers of potential risks associated with compounded topical finasteride products
  • HUTCHMED (HCM) Completes Patient Enrollment of a Phase II Registration Study of Savolitinib in Gastric Cancer in China
  • Intl Game Tech. PLC (IGT) announces that its dynamic Wheel of Fortune DiamondRS Premium Wheel cabinet recently launched in casinos across the U.S. Guests of Sky River Casino in Elk Grove, Calif. and of Mohegan Sun in Uncasville, Conn.
  • Medpace (MEDP) approves increase of $1.0 bln to its share repurchase program
  • Merck (MRK): Health Canada approves KEYTRUDA plus pemetrexed and platinum chemotherapy as first-line treatment for adult patients with unresectable advanced or metastatic malignant pleural mesothelioma
  • MongoDB (MDB) interim CFO Srdjan ("Serge") Tanjga to resign, effective May 8
  • Myriad Genetics (MYGN) Announces Study Results Show Patients with Depression had Fewer Psychiatric Hospitalizations after GeneSight Testing
  • NANO Nuclear Energy (NNE) confirmed the that the U.S. Nuclear Regulatory Commission issued its final Safety Evaluation approving the Fuel Qualification Methodology Topical Report for co's stationary KRONOS MMR Energy System design
  • Nelnet (NNI) trimming its stake in ALLO Holdings LLC
  • NovoCure's (NVCR) Optune Lua receives CE Mark approval for NSCLC
  • PepsiCo (PEP): HHS Secretary RFK Jr will announce this afternoon that FDA will phase out artificial food dyes from food supply, according to ABC News
  • Phillips 66 (PSX) increases quarterly cash dividend to $1.20/share from $1.15/share
  • POSCO (PKX) comments on Hyundai Motor (HYMTF) media reports
  • P. T. Telekomunikasi (TLK) discloses updated risk factors
  • Rapid7 (RPD) confirmed it entered into a Cooperation Agreement with JANA Partners on April 21
  • Redwood Trust (RWT) releases Q1 letter to shareholders - Redwood has navigated this April crisis period for the broader financial markets in a position of strength
  • Regeneron Pharma (REGN) announces a significant expansion of its manufacturing capacity through a new agreement with FUJIFILM Diosynth Biotechnologies to manufacture and supply bulk drug product of Regeneron’s commercial biologic medicines at their Holly Springs, North Carolina, campus
  • Richardson Elec (RELL) announces the expansion of its customer base through a supply agreement with TransAlta Corporation (TAC) for its patented pitch energy modules designed for GE wind turbines and SSB platforms
  • Roche Hldg (RHHBY) to invest $50 bln in US pharmaceuticals and diagnostics over next five years
  • ServisFirst Bancshares (SFBS) reported earnings and announced the hiring of Jim Harper as Senior Vice President and Chief Credit Officer
  • Skeena Gold & Silver (SKE) announces positive judgment by the Supreme Court of Canada regarding the Albino Lake storage facility
  • Solaris Resources Inc. (SLSR) announces the completion of a significant drilling campaign at its flagship Warintza Project in southeastern Ecuador, alongside key developments that continue to strategically de-risk and enhance the value of this globally significant copper asset (
  • Sphere Entertainment Co.'s (SPHR) MSGN Holdings agreed to another extension of the Forbearance Agreement
  • StoneX Group (SNEX) receives approval from CME Group (CME) for its New York vault, authorizing it to store and deliver gold (including enhanced delivery), silver, platinum, and palladium under COMEX and NYMEX contracts
  • Toyota Motor (TM) responds to media reports
  • USA Rare Earth (USAR) has signed a memorandum of understanding with The StudBuddy, maker of the world’s simplest magnetic stud finder tool
  • Veracyte (VCYT) Announces Decipher Prostate Genomic Classifier Results are Linked to Real-World Data in National Cancer Institute’s SEER Specialized Database Release
  • Vivendi (VIVHY) comments on Paris Court of Appeal’s decision; remains confident in the split’s ability to create long term value
  • Vuzix (VUZI) announces that shipments have begun for the latest order of XanderGlasses, a private label version of Vuzix Shield smart glasses developed in partnership with Xander, a Raleigh, North Carolina-based company focused on assistive technologies for the hard of hearing
  • Warner Bros. Discovery (WBD) confirmed that Max launched extra member add-on for $7.99/mo. across subscription tiers in the U.S.
  • Weatherford (WFRD) and AIQ sign strategic partnership to accelerate efficiency in energy production
  • WPP plc's (WPP) CMI Media Group reported Empower SaaS-operating system's automated media orchestration application achieved the milestone of over 200 campaigns in market - $1 bln in incremental revenue for clients

• Upgrades:
  • CenterPoint Energy (CNP) upgraded to Equal Weight from Underweight at Barclays, tgt $37
  • Investar Holding (ISTR) upgraded to Overweight from Neutral at Piper Sandler, tgt $22
  • Marriott Vacations (VAC) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $57
  • PagBank (PAGS) upgraded to Buy from Neutral at Citigroup, tgt $10
  • Public Storage (PSA) upgraded to Buy from Neutral at BofA Securities, tgt $368
  • Sportradar (SRAD) upgraded to Buy from Underperform at BofA Securities, tgt $28
  • StoneCo (STNE) upgraded to Buy from Neutral at Citigroup, tgt $15
  • Verra Mobility (VRRM) upgraded to Outperform from Neutral at Robert W. Baird, tgt $27
• Downgrades:
  • Ambev (ABEV) downgraded to Neutral from Buy at UBS
  • Alliant Energy (LNT) downgraded to Underweight from Equal Weight at Barclays, tgt $61
  • Comerica (CMA) downgraded to Underperform from In Line at Evercore ISI, tgt $50
  • Comerica (CMA) downgraded to Underweight from Neutral at JPMorgan, tgt $52
  • eBay (EBAY) downgraded to Market Perform from Outperform at Bernstein, tgt $65
  • Equinor (EQNR) downgraded to Underperform from Sector Perform at RBC Capital
    
  • Frontdoor (FTDR) downgraded to Neutral from Overweight at JPMorgan, tgt $40
  • Kraft Heinz (KHC) downgraded to Market Perform from Outperform at Bernstein, tgt $31
  • Macy's (M) downgraded to Neutral from Buy at Goldman, tgt $12
  • Resideo (REZI) downgraded to Neutral from Overweight at JPMorgan, tgt $16
  • Stellantis (STLA) downgraded to Neutral from Buy at Redburn Atlantic
  • Texas Instruments (TXN) downgraded to Underweight from Equal Weight at Barclays, tgt $125
  • Torrid (CURV) downgraded to Sell from Neutral at Goldman, tgt $4
  • UPS (UPS) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $98
  • UnitedHealth (UNH) downgraded to Hold from Buy at HSBC, tgt $490
  • Utz Brands (UTZ) downgraded to Hold from Buy at TD Cowen, tgt $15
  • Y-mAbs Therapeutics (YMAB) downgraded to Underperform from Neutral at BofA Securities, tgt $3
  • Ziff Davis (ZD) downgraded to Neutral from Overweight at JPMorgan, tgt $33
• Others:
  • Amcor (AMCR) initiated with a Market Perform at Raymond James
  • Amgen (AMGN) assumed at Neutral from Overweight at Cantor Fitzgerald, tgt $305
  • American Water (AWK) initiated with an Underweight at Barclays, tgt $138
  • Avery Dennison (AVY) initiated with a Hold at Jefferies, tgt $175
  • Blaize (BZAI) initiated with a Neutral at Rosenblatt, tgt $3
  • Bristol Myers (BMY) initiated with an Overweight at Piper Sandler
  • Comstock Resources (CRK) initiated with a Neutral at UBS, tgt $19
  • CoreWeave (CRWV) initiated with a Buy at BofA Securities, tgt $42
  • CoreWeave (CRWV) initiated with a Hold at Melius Research, tgt $40
  • CoreWeave (CRWV) initiated with an Equal Weight at Wells Fargo, tgt $41
  • CoreWeave (CRWV) initiated with an Outperform at Mizuho, tgt $46
  • CoreWeave (CRWV) initiated with a Buy at Stifel, tgt $55
  • CoreWeave (CRWV) initiated with a Neutral at Citigroup, tgt $43
  • CoreWeave (CRWV) initiated with an Overweight at JPMorgan, tgt $43
  • CoreWeave (CRWV) initiated with an Equal Weight at Morgan Stanley, tgt $46
  • CoreWeave (CRWV) initiated with an Overweight at Barclays, tgt $48
  • CoreWeave (CRWV) initiated with a Neutral at Goldman, tgt $54
  • CoreWeave (CRWV) initiated with a Buy at Jefferies, tgt $51
  • Eli Lilly (LLY) initiated with an Overweight at Cantor Fitzgerald, tgt $975
  • Gilead (GILD) assumed at Overweight from Neutral at Cantor Fitzgerald, tgt $125
  • Global Net Lease (GNL) transferred with Neutral rating at B. Riley, tgt $8
  • Gulfport Energy (GPOR) initiated with a Buy at UBS, tgt $215
  • HubSpot (HUBS) initiated with an Outperform at Exane BNP Paribas, tgt $700
  • Magnolia Oil & Gas (MGY) initiated with a Buy at UBS, tgt $26
  • Matador (MTDR) initiated with a Neutral at UBS, tgt $47
  • Modiv (MDV) transferred with Buy rating at B. Riley, tgt $18
  • Molina Healthcare (MOH) initiated with an Outperform at Bernstein, tgt $414
  • OneStream (OS) initiated with an Outperform at Exane BNP Paribas, tgt $30
  • Regeneron (REGN) assumed at Overweight from Neutral at Cantor Fitzgerald, tgt $695
  • RMR Group (RMR) transferred with Buy rating at B. Riley, tgt $24
  • Service Properties (SVC) transferred with Neutral rating at B. Riley, tgt $2
  • Sonoco (SON) initiated with a Buy at Jefferies, tgt $62
  • Telefonica (TEF) initiated with a Market Perform at Bernstein
  • Vaxcyte (PCVX) initiated with an Overweight at Cantor Fitzgerald
  • Vertex (VERX) initiated with an Outperform at Exane BNP Paribas, tgt $54
  • Vertex Pharmaceuticals (VRTX) assumed with an Overweight at Cantor Fitzgerald, tgt $535
  • Workiva (WK) initiated with an Outperform at Exane BNP Paribas, tgt $100

• Econ Data (Wednesday):
  • 7:00 ET: Weekly MBA Mortgage Index (prior -8.5%)
  • 9:45 ET: Flash April S&P Global US Manufacturing PMI (prior 50.2) and flash S&P Global US Services PMI (prior 54.4)
  • 10:00 ET: March New Home Sales (Briefing.com consensus 684,000; prior 676,000) 
  • 10:30 ET: Weekly crude oil inventories (prior +515,000)
• Treasury Auctions:
  • 13:00 ET: $70 bln 5-yr Treasury note auction results
• Earnings:
  • Monday (April 21)
    • Pre-Market: BOH CMA
    • After-Hours: AZZ BOKF CADE CALX CATY ELS HXL MEDP WRB WAL WTFC ZION
  • Tuesday (April 22)
    • Pre-Market: MMM DHR ELV EFX GE GPC HRI HOPE IVZ IRDM KMB LMT MCO MSCI NTRS NOC ONB PNR PHM DGX RTX SYF UCB VMI VZ
    • After-Hours: ADC BKR COF CB EWBC ENPH EQT ISRG MANH NBHC PKG CASH PEGA PFSI RRC RNST SAP STLD TSLA TRMK VBTX WFRD ZWS
  • Wednesday (April 23)
    • Pre-Market: APH T AVY BA BSX CHKP CME FHB GATX GEV GD HCSG LII LAD MHO MAS COOP EDU NEE NSC OFG ODFL OTIS PM BPOP PRG PB R SF TMHC TEL TDY TMO TNL UMC VRT VIRT WAB WSO
      
    • After-Hours: ALK ASGN BANC NTB CACI CSL CCS CHE CMG CHDN CYH CLB DFS EGP EW ESI EPRT FAF FE GSHD GGG IBM IMAX PI KALU KNX LRCX LVS MTDR MXL MTH MC MOH NEM ORLY OII PEN PTEN PLXS QS RJF RS RNR RMD RLI RHI ROL SEIC SIGI NOW STC TXN TYL URI VKTX WU WHR
  • Thursday (April 24)
    • Pre-Market: ADT ALLE AB AAL AMP APOG AMBP AUB BCPC BHLB BFH BMY BC CRS CBZ CBRE CNP CMS CNX CURB CUBI DAR DOV DOW EEFT FBP FRME FCFS FI FCX FCN THRM GPI HAS HELE ITGR IPG KDP LHX LKQ MRK MBLY NDAQ NOK NVCR ORI PPBI PEP PCG POOL PRCT PG RES SNY SAH LUV STM STRA FTI TXT TSCO TRU TPH UNP VLO VLY VC WBS WST WTW WNS XEL
    • After-Hours: GOOG APPF ASB SAM BYD COLB COUR DLR EMN EHC FHI FFBC GLPI GILD GBCI HIG DOC INTC KNSL KN MGRC MMSI MTX PECO PFG PFS RSG SLM SBCF SKX SKYW SSB SPSC SSNC TMUS VRSN WY WKC WSFS
  • Friday (April 25)
    • Pre-Market: ABBV AON AN AVTR CNC CHTR CL FLG GNTX HCA HTH LAZ LYB PSX PHIN POR RITM SAIA SXT SLB STEL TNET
    • After-Hours: None
  General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike