After Hours Report

Updated: 29-Jan-26 17:31 ET
Sandisk extends surge on blowout Q2 results; Apple up slightly after earnings

The stock market saw quite a bit of movement today as investors reacted to yesterday afternoon's slate of mega-cap earnings. The S&P 500 (-0.1%), Nasdaq Composite (-0.7%), and DJIA (+0.1%) finished mostly lower, though considerably improved from earlier levels as the broader market showed resilience in the face of some mega-cap weakness. 

A dismal reaction to Microsoft's (MSFT 433.50, -48.13, -9.99%) earnings release put pressure on tech names and most of the mega-cap complex, pushing the major averages lower out of the gate. The company beat earnings expectations, but the stock came under pressure as heavy capital spending, softer-than-hoped cloud growth, and merely in-line guidance overshadowed its strong pre-earnings rally.

ServiceNow (NOW 116.73, -12.89, -9.94%) was another notable laggard despite topping its own earnings expectations, trading lower amid a tough day for software stocks that saw the iShares GS Software ETF (IGV 92.27, -4.79, -4.94%) fall to its lowest level since late April.

The top-weighted information technology sector (-1.9%) traded as much as 4.0% lower before the broader market mounted a slow, methodical upward tick throughout the afternoon. After trading with a loss of over 2.0%, the PHLX Semiconductor Index (+0.2%) managed to nab a slight gain. 

Elsewhere in the sector, IBM (IBM 309.24, +15.08, +5.13%) captured the widest gain after posting an earnings beat and upside guidance. 

Several other S&P 500 sectors saw both their top- and bottom-performing components move sharply in reaction to earnings results.

The consumer discretionary sector (-0.6%), which was the only other sector to close with a loss wider than 0.3%, certainly reflected this trend. Royal Caribbean (RCL 345.60, +54.00, +18.52%) was among the best-performing S&P 500 names today, while Las Vegas Sands (LVS 52.71, -8.55, -13.96%) was the worst. 

Perhaps more notably, Tesla (TSLA 416.56, -14.90, -3.45%) provided weak leadership for the sector after its earnings report as mega-cap tech generally struggled.  The company beat earnings estimates, improving on last quarter's miss, but its $20 billion capital expenditure plan for 2026 raises questions about near-term growth as it shifts from a traditional EV maker to a focus on AI and robotics.

The Vanguard Mega Cap Growth ETF finished 0.8% lower, and while that certainly weighed on the major averages, it marks a substantial improvement from session lows. 

A double-digit gain from Meta Platforms (META 738.31, +69.58, +10.40%) also helped to offset the outsized weakness in Microsoft. Like Microsoft and Tesla, the company is also committed to a massive capital expenditure range for 2026, but upside Q1 revenue guidance appeared to outweigh concerns about the elevated spending outlook.

The communication services sector (+2.9%) was the best-performing S&P 500 sector by a wide margin as a result. 

Elsewhere, the energy sector (+1.1%) shed much of its sharp early gain as oil prices steadily moderated from early highs. Crude oil futures still managed to settle today's session $2.22 higher (+3.5%) at $65.38 a barrel amid escalating geopolitical tensions between the U.S. and Iran. 

Meanwhile, the real estate (+1.4%), financials (+1.1%), and industrials (+1.0%) sectors captured solid gains as the broader market steadily improved this afternoon. 

Outside of the S&P 500, the Russell 2000 (+0.1%) and S&P Mid Cap 400 (-0.1%) finished flattish after recovering from substantial early losses. 

While today's session highlighted notable divergence across mega-cap names driven by earnings, the broader market showed resilience, steadily recovering from session lows as investors bought the early weakness, suggesting that risk sentiment remains intact as investors step in on weakness. 

Attention now turns to another sizable slate of earnings after the close, including Apple (AAPL 258.01, +1.57, +0.61%), the last of the "magnificent seven" names to report this week. 

U.S. Treasuries finished Thursday with gains across the curve, sending yields on 5s and 10s back below their respective 200-day moving averages despite a soft $44 billion 7-year note auction. The 2-year note yield settled down three basis points to 3.55%, and the 10-year note yield settled down two basis points to 4.23%.

  • Russell 2000: +7.0% YTD
  • S&P Mid Cap 400: +5.0% YTD
  • DJIA: +2.1% YTD
  • Nasdaq Composite: +1.9% YTD
  • S&P 500: +1.8% YTD

Reviewing today's data:

  • November Trade Balance -$56.8 bln (Briefing.com consensus -$43.5 bln); Prior was revised to -$29.2 bln from -$29.4 bln
    • The key takeaway from the report is that it will create a drag on Q4 GDP growth expectations. A possible silver lining, though, is that the import activity could be construed as a reflection of increased demand in the U.S.
  • Weekly Initial Claims 209K (Briefing.com consensus 205K); Prior was revised to 210K from 200K, Weekly Continuing Claims 1.827 mln; Prior was revised to 1.865 mln from 1.849 mln
    • The key takeaway from the report is that it corroborates the idea that labor market conditions are still reasonably good to promote solid consumer spending activity that will be supportive of ongoing economic growth and a Fed that can show more patience before cutting rates again.
  • Q3 Productivity - Revised 4.9% (Briefing.com consensus 4.9%); Prior 4.9%, Q3 Unit Labor Costs - Revised -1.9% (Briefing.com consensus -1.9%); Prior -1.9%
    • With no changes, the key takeaway remained the same: this productivity report is the golden ticket for the economy (and the Fed, per chance), as it reflects strong growth without labor cost inflation.
  • November Wholesale Inventories 0.2% (Briefing.com consensus 0.1%); Prior was revised to 0.2% from 0.5%
  • November Factory Orders 2.7% (Briefing.com consensus 0.5%); Prior was revised to -1.2% from -1.3%
    • The key takeaway from the report is that transportation equipment orders, which are volatile, drove the increase in total factory orders.

Overseas:

  • Europe: DAX -2.1%, FTSE +0.2%, CAC +0.1%
  • Asia: Nikkei flat, Hang Seng +0.5%, Shanghai +0.2%

Commodities:

  • Crude Oil +2.22 @ 65.38
  • Nat Gas +0.18 @ 3.91
  • Gold +56.90 @ 5359.90
  • Silver +0.95 @ 114.31
  • Copper +0.29 @ 6.21

After-Hours Spotlight:

  • Apple (AAPL) beats by $0.17, beats on revs; iPhone revenues well above estimates; China revenue surges 38%...AAPL +1.4%
  • Beazer Homes (BZH) misses by $0.43, misses on revs...BZH -12.1%
  • Deckers Outdoor (DECK) beats by $0.56, beats on revs; guides FY26 EPS above consensus, revs above consensus...DECK +13.6%
  • Dolby Labs (DLB) beats by $0.18, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY26 EPS above consensus, revs in-line...DLB -3.2%
  • DXC Technology (DXC) beats by $0.13, reports revs in-line; guides MarQ EPS below consensus, revs below consensus...DXC -2.8%
  • KLA Corporation (KLAC) beats by $0.06, beats on revs; guides Q3 EPS in-line, revs in-line...KLAC -8.0%
  • Robert Half (RHI) beats by $0.02, beats on revs...RHI +7.2%
  • Sandisk (SNDK) beats by $2.58, beats on revs; guides Q3 EPS above consensus, revs above consensus...SNDK +12.6%
  • Schneider National (SNDR) misses by $0.07, misses on revs; guides FY26 EPS below consensus...SNDR -15.8%
  • SkyWest (SKYW) beats by $0.05, beats on revs...SKYW +1.4%
  • Standex International (SXI) beats by $0.08, reports revs in-line; provides Q1 and FY26 guidance...SXI -1.0%
  • Visa (V) beats by $0.03, beats on revs...V -1.7%
  • Western Digital (WDC) beats by $0.20, beats on revs; guides MarQ EPS above consensus, revs above consensus...WDC +0.2%

Fair Value for Friday, January 30:

  • S&P 500: 6,997
  • Nasdaq 100: 26,005
  • DJIA: 49,204
Today's News Summary:

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

  • Earnings/Guidance (Full Earnings Calendar):
    • Adtalem Global Education (ATGE) beats by $0.24, beats on revs; guides FY26 EPS in-line, revs in-line
    • Allegro Microsystems (ALGM) beats by $0.01, beats on revs; guides MarQ EPS in-line, revs above consensus
    • Altria (MO) misses by $0.02, reports revs in-line; guides FY26 EPS in-line
    • AMC Entertainment (AMC) guides Q4 revenue below consensus; announces agreement with lenders to provide additional debt refinancing flexibility
    • Ameriprise Financial (AMP) beats by $0.49, beats on revs
    • A.O. Smith (AOS) beats by $0.06, misses on revs; guides FY26 EPS in-line, revs in-line
    • AXIS Capital (AXS) beats by $0.15, beats on revs
    • Blackstone (BX) beats by $0.21, beats on revs
    • Bread Financial (BFH) beats by $1.71, NII up 6%; Provides 2026 outlook, including average loan growth up low-single-digits
    • Brookdale Senior Living (BKD) sees FY25 revenue above expectations, revPAR Up 5.7%, despite $263 mln net loss; adjusted EBITDA rises 19%
    • Brookfield Infrastructure beats by $0.01, misses on revs; raises dividend; also provided update on strategic initiatives; increased quarterly distribution to $0.455 per unit from $0.43 per unit
    • Brunswick (BC) beats by $0.01, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY26 EPS in-line, revs above consensus
    • Calix Networks (CALX) reports EPS in-line, revs in-line; guides Q1 EPS in-line, revs above consensus; ups repurchase authorization
    • Canadian Pacific Kansas City Ltd. (CP) misses by CAD0.02, reports revs in-line
    • Caterpillar (CAT) beats by $0.45, beats on revs
    • Celestica (CLS) beats by $0.13, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY26 EPS above consensus, revs above consensus
    • Century Communities (CCS) beats by $0.24, beats on revs
    • C.H. Robinson (CHRW) beats by $0.11, misses on revs
    • Cimpress (CMPR) beats by $0.31, beats on revs (two analyst estimate); raises FY26 revenue growth guidance
    • Comcast (CMCSA) beats by $0.11, reports revs in-line
    • Concentra (CON) guides Q4 EPS and revenue above consensus; guides FY26 revs in-line
    • CONMED (CNMD) beats by $0.11, beats on revs; guides FY26 EPS, revs below consensus
    • CSW Industrials (CSW) misses by $0.51, misses on revs
    • Deluxe (DLX) beats by $0.13, beats on revs; guides FY26 EPS above consensus, revs in-line
    • Deutsche Bank (DB) reports FY25 results
    • Dover (DOV) beats by $0.02, reports revs in-line; guides FY26 EPS in-line, revs in-line
    • Equity Lifestyle Properties (ELS) beats by $0.01, misses on revs; guides Q1 normalized FFO in-line; guides FY26 normalized FFO in-line; also increases dividend
    • Ethan Allen (ETD) beats by $0.06, misses on revs
    • Fair Isaac (FICO) beats by $0.25, beats on revs; guides FY26 EPS below consensus, revs below consensus
    • First Financial Bancorp (FFBC) beats by $0.20, Net interest margin of 3.96%
    • First Interstate Bancsystem (FIBK) beats by $0.31, beats on revs; increases buyback
    • Group 1 Auto (GPI) reports Q4 (Dec) results, revs in-line
    • Hexcel (HXL) beats by $0.03, beats on revs; guides FY26 EPS in-line, revs in-line
    • Honeywell (HON) beats by $0.05, misses on revs; guides FY26 EPS in-line, revs in-line
    • Houlihan Lokey (HLI) beats by $0.07, beats on revs
    • IBM (IBM) beats by $0.21, beats on revs
    • Kinder Morgan (KMI) releases its 2026 annual business update presentation; has about $9.1 bln of natural gas projects in backlog - pursuing more than $10 bln of additional opportunities beyond the current backlog
    • Kirby (KEX) beats by $0.05, misses on revs; guides FY26 EPS in-line
    • L3Harris (LHX) beats by $0.10, misses on revs; guides FY26 revs in-line
    • Lam Research (LRCX) beats by $0.10, beats on revs; guides Q3 EPS above consensus, revs above consensus
    • Landstar System (LSTR) misses by $0.52, misses on revs
    • Las Vegas Sands (LVS) beats by $0.08, beats on revs
    • Lazard (LAZ) beats by $0.11, beats on revs; appoints CFO
    • Lending Club (LC) beats by $0.01, beats on revs; guides Q1 EPS in-line; guides FY26 EPS in-line
    • Levi Strauss (LEVI) beats by $0.02, beats on revs; guides FY26 EPS below consensus, revs above consensus; to enter into $200 mln accelerated share repurchase agreement
    • Liberty Energy (LBRT) beats by $0.22, beats on revs
    • Lockheed Martin (LMT) reports Q4 (Dec) results, beats on revs; guides FY26 EPS in-line, revs in-line
    • Manpower (MAN) misses by $0.17, beats on revs; guides Q1 EPS in-line
    • MarineMax (HZO) misses by $0.07, beats on revs; guides FY26 EPS in-line
    • Marsh McLennan (MRSH) beats by $0.14, reports revs in-line
    • Meritage (MTH) beats by $0.11, misses on revs; Expects full year 2026 home closing volume and revenue to be consistent with full year 2025 results
    • Meta Platforms (META) beats by $0.67, beats on revs; guides Q1 revs above consensus
    • Microsoft (MSFT) beats by $0.23, beats on revs; Azure +38% CC vs +37% CC prior guidance; guides MarQ revenue to be in-line with consensus
    • Murphy Oil (MUR) beats by $0.19, misses on revs
    • NASDAQ (NDAQ) beats by $0.04, beats on revs
    • National Fuel Gas (NFG) beats by $0.12, reports revs in-line; reaffirms FY26 EPS guidance
    • Nokia (NOK) beats by €0.02, beats on revs
    • Oshkosh (OSK) misses by $0.05, beats on revs; guides FY26 EPS below consensus, revs in-line
    • Parker-Hannifin (PH) beats by $0.49, beats on revs; raises FY26 EPS above consensus, revs in-line
    • Petrobras (PBR) increases proved reserves in 2025
    • Plexus (PLXS) beats by $0.03, reports revs in-line; guides Q2 EPS above consensus, revs above consensus
    • PulteGroup (PHM) reports Q4 (Dec) results, beats on revs
    • Raymond James (RJF) beats by $0.03, misses on revs
    • Roche Hldg (RHHBY) reports FY25 results
    • Rogers Comms (RCI) beats by C$0.14, beats on revs
    • Samsung (SSNLF) reports Q4 earnings
    • Sanofi (SNY) beats by EUR0.82, reports revs in-line
    • SAP SE (SAP) beats by €0.11, reports revs in-line
    • SEI Investments (SEIC) beats by $0.03, beats on revs
    • ServiceNow (NOW) beats by $0.04, beats on revs
    • Sherwin-Williams (SHW) beats by $0.07, reports revs in-line; guides FY26 EPS below consensus
    • SL Green Realty (SLG) beats by $0.01, beats on revs
    • Southern Copper (SCCO) reports Q4 results; beats on revs
    • Southwest Air (LUV) beats by $0.01, reports revs in-line; guides Q1 EPS above consensus; guides FY26 EPS above consensus
    • STMicroelectronics (STM) reports Q4 (Dec) results, beats on revs; guides Q1 revs in-line
    • Takeda Pharma (TAK) reports Q3 results; raises full-year outlook
    • TAL Education (TAL) beats on top and bottom lines
    • Tesla (TSLA) beats by $0.05, reports revs in-line, Gross Margin up 386 bps yr/yr; Cybercab, Tesla Semi and Megapack 3 are on schedule for volume production starting in 2026
    • Tetra Tech (TTEK) beats by $0.04, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY26 revs in-line; Increases quarterly dividend by 12%
    • Thermo Fisher (TMO) beats by $0.12, beats on revs
    • Tractor Supply (TSCO) misses by $0.03, misses on revs; guides FY26 EPS below consensus, revs below consensus
    • United Rentals (URI) misses by $0.70, reports revs in-line; guides FY26 revs in-line
    • Valero Energy (VLO) beats by $0.55, beats on revs
    • Viavi (VIAV) beats by $0.03, beats on revs; guides MarQ EPS above consensus, revs above consensus; announces restructuring plan, which includes a 5% workforce reduction
    • Virtu Financial (VIRT) beats by $0.56, beats on revs
    • Waste Mgmt (WM) misses by $0.02, misses on revs; guides FY26 revs in-line
    • Whirlpool (WHR) misses by $0.42, misses on revs; guides FY26 EPS below consensus, revs in-line
    • Xerox (XRX) misses by $0.20, misses on revs; guides FY26 revs below two analyst estimate
  • General News
    • The White House and Senate are getting closer to a deal to avert a government shutdown. The deal would extend funding for Defense, Labor, State, and Transportation until September 30, while extending DHS funding for a shorter period of time so immigration changes can be worked out, according to CNN
    • Rare earth stocks sharply lower after hours following report that the Trump administration is stepping back from plans to guarantee a minimum price for US critical minerals projects, according to Reuters
    • Aemetis (AMTX) authorized the repurchase up to $80 million of its outstanding common stock
    • Alibaba's (BABA) Cainiao will merge its self-driving unit with a Chinese robovan company, according to WSJ
    • Alphabet (GOOG): Google moves to take control of dozens of web domains linked to Ipidea, according to WSJ
    • Alvotech (ALVO) secures global settlement for Eylea 2mg biosimilar
    • American Tower (AMT) is providing an update regarding its relationship with DISH Wireless L.L.C. (SATS unit)
    • Amneal Pharmaceuticals (AMRX) will make effective its nationwide agreement to settle a substantial majority of the opioids-related claims brought against the company
    • AstraZeneca (AZN) and The University of Virginia sign Master Research Collaboration Agreement to accelerate pre-clinical innovation
    • AstraZeneca (AZN) plans $15 bln investment in China through 2030
    • Bit Digital (BTBT) reaffirms its long-term investment in WhiteFiber, and confirmed that it will not sell any of its WhiteFiber shares in any secondary offering or other discretionary disposition during 2026
    • Boeing (BA): Air India expected to order 30 Boeing 737 Max jets, according to Bloomberg
    • Calix Networks (CALX) increases stock repurchase authorization by an additional $125 million
    • Canadian Pacific Kansas City Ltd. (CP) announced that, as part of its ongoing board succession planning, Gordon Trafton, a current member of the CPKC board, has been appointed vice-chair of the board
    • Caterpillar (CAT) forms Strategic Alliance with the American Intelligence & Power forms to deploy 2 gigawatts of dedicated power for hyperscale AI Infrastructure
    • Compass Diversified (CODI) announces that its subsidiary, Altor Solutions, completed a sale-leaseback transaction involving certain Altor-owned real estate assets, generating approximately $11 mln in immediately-available cash proceeds
    • Designer Brands (DBI) iled a motion for a temporary restraining order and/or preliminary injunction and a complaint for declaratory and injunctive relief to enjoin the purported termination by Worldpay fka Vantiv effective as of February 2, 2026
    • Dow (DOW) beats by $0.12, reports revs in-line
    • DT Midstream (DTM) announces that CEO David Slater has been elected Executive Chairman of the Board of Directors, effective January 28, 2026
    • Eli Lilly (LLY): Repertoire Immune Medicines has entered a strategic collaboration with Eli Lilly and Company to develop tolerizing therapies for multiple autoimmune diseases
    • First Financial Bankshares (FFIN) and First Financial Bank has announced the promotion of David Bailey to CEO of both entities
    • International Paper (IP) is considering a breakup, according to Bloomberg
    • International Seaways (INSW) announces that since the start of the year, it has sold or entered into agreements to sell five vessels for aggregate proceeds of approximately $185 mln, net of commissions and fees
    • Interparfums (IPAR) signs license agreements with David Beckham and Nautica
    • Inuvo (INUV) appoints Rob Buchner as Chairman and Chief Executive Officer
    • KB Home (KBH) announces that, as part of its long-term succession planning process, its board of directors appointed Robert McGibney as President and Chief Executive Officer, effective March 1, 2026
    • Lazard (LAZ) announces that Tracy Farr has been appointed Chief Financial Officer, effective February 1, 2026
    • Limoneira (LMNR) announces that Mark Palamountain will step down from his role as CFO to pursue interests outside of the Company; Greg Hamm to succeed as CFO
    • Lockheed Martin (LMT) signed a framework agreement with the Department of War to quadruple the production of Terminal High Altitude Area Defense interceptors, from 96 to 400 interceptors per year
    • Merchants Bancorp (MBIN) announces that its Board of Directors approved a stock repurchase program of up to $100 mln of common stock, expiring December 31, 2027
    • Meta Platforms (META): Ottawa is in discussions with Meta about restoring Facebook news, according to Globe & Mail
    • Mid-America Aptmt (MAA) disclosed settlement of class action litigation
    • Noble Corporation (NE) completes the sale of five jackup rigs to Borr Drilling Limited (BORR) for $360 million
    • Nvidia (NVDA) CEO Jensen Huang says China has not yet approved H200 sales, according to Bloomberg
    • Nvidia (NVDA), Microsoft (MSFT), and Amazon.com (AMZN) aiming to invest $60 billion in OpenAI, according to The Information
    • Resources Connection (RGP) announces workforce reduction
    • Sagimet Biosciences (SGMT): Ascletis reports topline results from its Phase III open-label study of Denifanstat
    • Schneider National (SNDR) announces a planned leadership transition designed to ensure continuity and position the company for its next phase of growth
    • ServiceNow (NOW) announces an expanded relationship with Panasonic Avionics Corporation
    • ServiceNow (NOW) and Anthropic announce a collaboration to further integrate Anthropic Claude models into core ServiceNow workflows for application development and other mission-critical business processes in areas such as healthcare and life sciences
    • ServiceNow (NOW) and Fiserv (FISV) expand strategic commitment to accelerate AI-driven transformation of financial services
    • Sibanye-Stillwater (SBSW) releases investor presentation highlighting strategic plan and targeted outcomes
    • SK Hynix (HXSCL) secures 66% of HBM orders from Nvidia (NVDA), according to YonHap
    • Sony (SONY) and GIC announce the establishment of an investment partnership to acquire and amplify high-quality, marquee music catalog assets across a range of genres
    • Summit Therapeutics (SMMT) announces FDA acceptance of BLA seeking approval for Ivonescimab
    • Tesla (TSLA) provides updates in slide deck; entered an agreement to invest appxoimately $2 bln to acquire shares of Series E Preferred stock of xAI
    • Tesla (TSLA) on conference call says it is "time to basically bring the Model S and X programs to an end with an honorable discharge"; says production lines will be replaced "with a 1 million unit per year line of Optimus"; expects CapEx would be in excess of $20 bln
    • Trane (TT) beats by $0.05, beats on revs; guides FY26 EPS in-line, revs above consensus
    • TTM Tech (TTMI) and Raytheon, an RTX business (RTX), have reached a multi-year agreement to provide radio frequency assemblies, electronic hardware, and printed circuit boards supporting Raytheon’s Lower Tier Air and Missile Defense Sensor
    • Unicycive Therapeutics (UNCY) announces FDA acceptance of Oxylanthanum Carbonate (OLC) New Drug Application (NDA) resubmission
    • United Rentals (URI) authorizes new $5 bln share repurchase program
    • Visa (V) shareholders did not approve proposal requesting the Board to adopt a policy for an independent chair
    • Vizsla Silver (VZLA) provides an update on media-reported security incident at the Panuco Project
    • Workiva (WK) appoints two new independent directors to its Board of Directors; former Cisco (CSCO) and Autodesk (ADSK) CFO Scott Herren and former Workday (WDAY) Co-President, CFO, and EVP Mark Peek
  • Upgrades:
    • Aperam (APEMY) upgraded to Overweight from Neutral at JPMorgan
    • ASML Holding (ASML) upgraded to Overweight from Equal Weight at Barclays
    • Brown & Brown (BRO) upgraded to Market Perform from Underperform at Keefe Bruyette, tgt $73
    • Cencora (COR) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $400
    • Equinor (EQNR) upgraded to Hold from Sell at Danske Bank
    • General Motors (GM) upgraded to Buy from Hold at DZ Bank, tgt $98
    • Korro Bio (KRRO) upgraded to Buy from Neutral at Chardan, tgt $15
    • Korro Bio (KRRO) upgraded to Buy from Neutral at H.C. Wainwright; tgt $20
    • Korro Bio (KRRO) upgraded to Overweight from Neutral at Piper Sandler, tgt $30
    • Lam Research (LRCX) upgraded to Buy from Hold at Summit Insights
    • Littelfuse (LFUS) upgraded to Buy from Hold at The Benchmark Company; tgt $360
    • Warrior Met Coal (HCC) upgraded to Buy from Neutral at UBS, tgt $108
    • Werner Enterprises (WERN) upgraded to Neutral from Underperform at Robert W. Baird, tgt $34
    • Zillow Group (ZG) upgraded to Equal Weight from Underweight at Barclays, tgt $72
  • Downgrades:
    • CalciMedica (CALC) downgraded to Neutral from Buy at H.C. Wainwright
    • First Solar (FSLR) downgraded to Market Perform from Outperform at BMO Capital, tgt $263
    • Hudbay Minerals (HBM) downgraded to Sector Perform from Outperform at National Bank Financial
    • Omega Healthcare Investors (OHI) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $45
    • Prosperity Bancshares (PB) downgraded to Neutral from Overweight at Piper Sandler, tgt $74
    • United Microelectronics (UMC) downgraded to Underweight from Neutral at JPMorgan
  • Others:
    • Adlai Nortye (ANL) initiated with a Buy at Lucid Capital, tgt $11
    • Agnico Eagle Mines (AEM) initiated with a Neutral at JPMorgan, tgt $248
    • American Healthcare REIT (AHR) initiated with an Outperform at BMO Capital, tgt $55
    • Amprius Technologies (AMPX) initiated with a Buy at Needham; tgt $20
    • Barrick Mining (B) initiated with an Overweight at JPMorgan, tgt $68
    • Bicara Therapeutics (BCAX) initiated with a Market Outperform at Citizens, tgt $31
    • LightPath (LPTH) initiated with a Buy at Canaccord Genuity; tgt $15
    • SharpLink Gaming (SBET) initiated with a Buy at Canaccord Genuity, tgt $16
  • Econ Data (Friday):
    • 8:30 ET: December PPI (Briefing.com consensus 0.2%; prior 0.2%) and Core PPI (Briefing.com consensus 0.3%; prior 0.0%)
    • 9:45 ET: January Chicago PMI (Briefing.com consensus 43.0; prior 43.5)
  • Earnings:
    • Monday (Jan 26)
      • Pre-Market: BKR BOH LKFN STLD
      • After-Hours: AGYS ARE BRO CR FRME GGG NWBI NUE SANM WRB WAL WSFS
      Tuesday (Jan 27)
      • Pre-Market: AAL AIT BA CBU CVLT FBP HCA GM HOPE IVZ JBLU KMB NEE NOC PCAR PII BPOP ROP RTX SYF SYY UNP UNH UPS
      • After-Hours: BXP ENVA FFIV FCF GEF MANH NBHC NXT PKG PPG PFS QRVO RNST STX LRN TXN TRMK UMBF WSBC
    • Wednesday (Jan 28)
      • Pre-Market: APH ASML T ADP AVT BMI EAT GLW DHR ELV EXTR GEV GD LII LFUS MHO MNRO MSCI NAVI EDU OTIS PGR PB SMG SBUX SF TEVA TXT UMC VFC
      • After-Hours: ATGE AXS CHRW CALX CLS CCS CNMD DLX ELS ETD FICO FFBC FIBK HXL HLI IBM LRCX LSTR LVS LC LEVI LBRT MTH META MSFT MUR NFG PLXS RJF SEIC NOW SLG TSLA TTEK URI VIAV WM WHR
    • Thursday (Jan 29)
      • Pre-Market: AOS ALGM MO AMP BX BIP BFH BC CRS CAT CNX CFR DOV DOW EXP GPI HON IP KEX LHX LAZ LMT MAN HZO MRSH MA NDAQ NOK NSC OSK PH PHM RCI RCL SNY SAP SHW STM TMO TSCO TT VLO VLY VIRT XRX
      • After-Hours: ABCB APPF AAPL AJG AX BZH CACC DLB DXC DECK, EMN FHI HIG HOLX KLAC LPLA MXL MTX OLN OSIS PFSI RMD RHI SNDK SNDR SBCF SIGI SKYW SYK V WDC WY
    • Friday (Jan 30)
      • Pre-Market: APD AXP AON ARCB ALV CHTR CVX CHD CL XOM FHB FLG BEN GNTX HTH LYB REGN SOFI STEL VZ WT
      • After-Hours: None
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