After Hours Report

The stock market navigated a busy day of earnings reports, economic data, and geopolitical developments to chart a higher finish across the major averages. An intraday surge across tech names resulted in fresh record highs for the S&P 500 (+0.6%) and Nasdaq Composite (+0.9%), while mixed strength in the broader market kept the DJIA (+0.1%) near its flatline, though its modest gain also resulted in a record closing high.

The market opened to relatively broad weakness as overnight headlines of the U.S. and Iran exchanging military strikes pushed oil past the $92 per barrel mark. Less than an hour into the session, however, Axios reported that U.S. and Iranian negotiators had agreed to a 60-day memorandum of understanding aimed at extending the ceasefire and opening negotiations over Iran's nuclear program, though the proposal still requires President Trump's approval.

Oil reversed its earlier gains, with WTI crude oil futures settling today's session just $0.32 higher (+0.4%) at $88.92 per barrel.

The retreat in oil prices helped lift the major averages from a mostly lower open to a mostly higher finish, with the information technology sector (+1.3%) making a decisive move higher.

The sector had already been hovering near its baseline as a rally in software names offset an early extension of recent semiconductor weakness.

Though not a component of the S&P 500, Snowflake's (SNOW 239.12, +63.86, +36.44%) blowout earnings report featured a ramp in monetizing AI production, which added fuel to the broader software space. Oracle (ORCL 203.68, +12.72, +6.66%) and Palantir Technologies (PLTR 143.34, +10.83, +8.17%) were among the bellwethers that traded sharply higher, while Microsoft (MSFT 426.99, +14.32, +3.47%) was a "magnificent seven" standout after The Information reported that the company will soon unveil a new AI-powered coding framework.

The iShares GS Software (IGV 95.64, +2.60, +2.79%) finished solidly higher.

Meanwhile, the reversal in oil prices spurred buying interest across semiconductor names, with the PHLX Semiconductor Index reversing its early loss to finish 1.0% higher.

The health care sector (+1.4%) finished with the widest gain, buoyed by a strong showing from its largest component, Eli Lilly (LLY 1127.45, +44.53, +4.11%), while Agilent (A 135.42, +19.58, +16.90%) surged after topping earnings estimates.

Best Buy (BBY 74.74, +10.20, +15.81%) was another standout following earnings, helping support gains in the consumer discretionary sector (+0.5%).

Gains were more modest elsewhere, with five total S&P 500 sectors finishing higher.

Losses were also relatively modest, with the exception of the defensive utilities sector (-1.1%).

The consumer staples sector (-0.5%) was another relative laggard despite post-earnings rallies from Dollar Tree (DLTR 113.00, +17.13, +17.87%) and Hormel Foods (HRL 23.59, +2.63, +12.55%), while Costco (COST 995.20, -8.49, -0.85%) traded lower ahead of its earnings report after the close.

Outside of the S&P 500, the Russell 2000 (+0.6%) and S&P Mid Cap 400 (+0.1%) reversed earlier losses as Treasury yields moved lower alongside oil prices.

Overall, today's session highlighted the market's continued sensitivity to geopolitical headlines, though the sharp reversal in oil prices ultimately helped restore risk appetite and support another push into record territory. Investors also continued to show a willingness to buy dips across semiconductor and AI-related names, reinforcing the market's underlying momentum despite elevated volatility earlier in the day.

U.S. Treasuries continued this week's rally after overcoming some early weakness on a day that was filled with data and market-moving news developments.  The market remained just below session highs after today's $44 billion 7-year note sale made for a strong finish to this week's note auction slate with the first stop-through in this tenor since December.

The 2-year note yield settled down one basis point to 4.02%, and the 10-year note yield settled down three basis points to 4.46%.

• Russell 2000: +18.3% YTD
• Nasdaq Composite: +15.8% YTD
• S&P Mid Cap 400: +12.5% YTD
• S&P 500: +10.5% YTD
• DJIA: +5.4% YTD

Reviewing today's data:

• Personal income for April decreased slightly, resulting in an unchanged month-over-month reading (Briefing.com consensus 0.5%) after a revised 0.5% increase (from 0.6%) in March. Personal spending rose 0.5% month-over-month (Briefing.com consensus 0.4%) following a revised 1.0% increase (from 0.9%) in March. The PCE Price Index increased 0.4% month-over-month (Briefing.com consensus 0.5%), leaving it up 3.8% yr/yr versus 3.5% in March. The core PCE Price Index rose 0.2% (Briefing.com consensus 0.3%), leaving it up 3.3% yr/yr versus 3.2% in March.
  
  • The key takeaway from the report is that the lack of income growth combined with an acceleration in the year-over-year core PCE Price Index (to 3.3% from 3.2%) will invite stagflationary concerns, especially if this dynamic continues in the following months.
• The second estimate of Q1 GDP showed a downward revision to an annual rate of 1.6% (Briefing.com consensus 2.0%) from 2.0% in the advance estimate. The GDP Chain Deflator was revised down to 3.5% (Briefing.com consensus 4.5%) from 3.6% in the advance estimate.
  
  • The key takeaway from the report is that investment and consumer spending in Q1 were weaker than previously estimated while government spending and the impact of trade were essentially unchanged from the advance estimate.
• Initial jobless claims for the week ending May 23 increased by 5,000 to 215,000 (Briefing.com consensus 214,000) from last week's revised reading of 210,000 (from 209,000), while continuing jobless claims for the week ending May 16 rose to 1.786 million from a revised 1.771 million (from 1.782 million) in the prior week.
  
  • The key takeaway from the report is that even with this increase in initial and continuing claims, the overall level of jobless claims remains relatively low.
• Durable goods orders surged 7.9% month-over-month in April (Briefing.com consensus 1.7%) after increasing a revised 1.1% (from 0.8%) in March. Excluding transportation, orders were up 1.1% month-over-month (Briefing.com consensus 0.5%) following an upwardly revised 1.1% increase (from 0.9%) in March.
  
  • The key takeaway from the report is that a big increase in aircraft orders from Boeing (BA) fueled the headline increase while nondefense capital goods orders excluding aircraft decreased 1.1%, reflecting some newfound softness in business spending.
• New home sales decreased 6.2% month-over-month in April to a seasonally adjusted annual rate of 622,000 from a revised 663,000 (from 682,000) in March. On a year-over-year basis, new home sales were down 11.3%.
  
  • The key takeaway from the report is that the median sales price increased even though the supply (9.4 months) of homes approached this year's high (9.9) from January.

Overseas:

• Europe: DAX -0.3%, FTSE -0.8%, CAC -0.2%
• Asia: Nikkei -0.5%, Hang Seng -1.3%, Shanghai +0.1%

Commodities:

• Crude Oil +0.32 @ 88.92
• Nat Gas +0.20 @ 3.29
• Gold +84.00 @ 4532.50
• Silver +1.05 @ 75.94
• Copper +0.09 @ 6.43

After-Hours Spotlight:

• American Eagle (AEO) beats by $0.02, reports revs in-line; comp sales +8%...AEO -10.9%
• Autodesk (ADSK) beats by $0.15, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY27 EPS in-line, revs above consensus...ADSK -4.8%
• Costco (COST) misses by $0.05, slightly beats on revenue, adjusted total company same store sales of +6.6%...COST +0.3%
• Dell (DELL) beats by $1.90, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY27 EPS above consensus, revs above consensus...DELL +29.8%
• Elastic (ESTC) beats by $0.05, reports revs in-line; guides Q1 EPS below consensus, revs in-line; guides FY27 EPS above consensus, revs above consensus...ESTC -10.1%
• Gap (GAP) beats by $0.01, reports revs in-line, comps +2%; guides Q2 revs below consensus; guides FY27 EPS above consensus, revs below consensus...GAP -13.7%
• MongoDB (MDB) beats by $0.13, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY27 EPS above consensus, revs above consensus...MDB +2.4%
• NetApp (NTAP) beats by $0.16, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY27 EPS above consensus, revs above consensus...NTAP +14.2%
• Okta (OKTA) beats by $0.06, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY27 EPS in-line, revs above consensus...OKTA +11.9%
• SentinelOne (S) beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs below consensus; guides FY27 EPS in-line, revs in-line...S -18.2%

Fair Value for Friday, May 29:

• S&P 500: 7,579
• Nasdaq 100: 30,293
• DJIA: 50,726

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

• Earnings/Guidance (Full Earnings Calendar):
  • Agilent (A) beats by $0.08, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY26 EPS above consensus, revs in-line
  • American Superconductor (AMSC) beats by $0.12, beats on revs; guides Q1 EPS in-line, revs in-line
  • Autohome (ATHM) reports EPS in-line, misses on revs
  • Best Buy (BBY) beats by $0.05, beats on revs; reaffirms FY27 EPS guidance, revs, and comps guidance
  • Braze (BRZE) reports EPS in-line, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY27 EPS in-line, revs above consensus
  • BRP Inc. (DOO) beats by CAD0.68, beats on revs; guides FY27 EPS in-line, revs above consensus
  • Burlington Stores (BURL) beats by $0.30, beats on revs; guides Q2 EPS above consensus, revs in-line; guides FY27 EPS in-line, revs in-line
  • CIBC (CM) beats by CAD 0.08; beats on revs
  • Citi Trends (CTRN) guides Q1 revenue above dual estimate; Q1 comps +13.9%; raises FY27 comp guidance an adjusted EBITDA guidance
  • Dollar Tree (DLTR) beats by $0.21, reports revs in-line; guides Q2 EPS above consensus, revs in-line; guides FY27 EPS above consensus, revs in-line
  • Everpure (P) beats by $0.07, beats on revs; guides Q2 revs above consensus; guides FY27 revs above consensus
  • HEICO (HEI) beats by $0.33, beats on revs
  • Hormel Foods (HRL) beats by $0.05, reports revs in-line; reaffirms FY26 EPS guidance, revs guidance
  • HP Inc. (HPQ) beats by $0.15, beats on revs; guides Q3 EPS in-line; guides FY26 EPS above consensus
  • Hyatt Hotels (H) investor day highlights strategy driven by premium position and differentiation at scale; sees FY25-28 System-wide Hotels RevPAR Growth of 2-4%; announced a $1 billion increase to Hyatt’s share repurchase authorization
  • ICON plc (ICLR) misses by $0.71, beats on revs; guides FY26 EPS below consensus, revs above consensus
  • Kohl's (KSS) beats by $0.06, reports revs in-line; reaffirms FY27 EPS guidance, revs guidance
  • Li Auto (LI) misses by RMB0.26, beats on revs; guides Q2 revs below consensus
  • Marvell (MRVL) reports EPS in-line, revs in-line; mid-points of Q2 EPS and revenue guidance above consensus
  • nCino (NCNO) reports Q1 (Apr) results, beats on revs; guides Q2 revs in-line; guides FY27 revs above consensus
  • Nutanix (NTNX) beats by $0.11, beats on revs; guides Q4 revs in-line
  • Photronics (PLAB) misses by $0.11, misses on revs; guides Q3 EPS below consensus, revs below consensus
  • Phreesia (PHR) beats by $0.04, reports revs in-line; reaffirms FY27 revs guidance
  • Royal Bank of Canada (RY) beats by CAD0.05, reports revs in-line
  • Salesforce (CRM) beats by $0.75, reports revs in-line; guides Q2 EPS above consensus, revs below consensus; raises FY27 EPS above consensus, revs in-line; enters accelerated share repurchase agreement
  • Snowflake (SNOW) beats by $0.07, beats on revs; Guides Q2 product revenue above consensus, raises FY27 product revenue and non-GAAP operating margin guidance
  • Synopsys (SNPS) beats by $0.20, beats on revs; guides Q3 EPS above consensus, revs in-line; raises FY26 EPS above consensus, revs in-line
  • Toronto-Dominion Bank (TD) beats by CAD 0.12, beats on revs
  • Toyota Motor (TM) reports global sales and production data for April 2026
  • Weibo (WB) misses by $0.02, beats on revs
• General News
  • U.S. and Iranian negotiators reach agreement on 60 day memorandum of understanding to extend the ceasefire & launch negotiations on Iran's nuclear program, but President Trump has not approved the deal yet, according to Axios
  • U.S. Central Command says at 10:17 p.m. ET on May 27, Iran launched a ballistic missile toward Kuwait that was successfully intercepted by Kuwaiti forces; says this is a "egregious ceasefire violation by the Iranian regime"
  • The U.S. carried out additional defensive strikes on Iran, and Iran targeted a U.S. airbase in response. NBC News
  • The Pentagon has been positioning troops and weapons for a possible military attack on Cuba. Politico
  • Minneapolis Federal Reserve President Neel Kashkari (voting FOMC member) says his priority is to bring down inflation. CNBC
  • The Trump administration is considering taking equity stakes in drone stocks. WSJ
  • Fed Vice Chair Philip Jefferson gives speech on monetary policy and the economy
  • Anthropic raises $65B in Series H funding at $965B post-money valuation
  • Lawmakers approve tax on luxury second homes in New York City. WSJ
  • 3M (MMM): Australia files lawsuit against 3M related to forever chemcials. Reuters
  • AbbVie (ABBV) receives FDA approval for DECNUPAZ in rare BPDCN blood cancer
  • Amazon: AWS announces a new AI retail solution based on Alexa for Shopping that for the first time enables retailers outside Amazon to tap into the technology and learnings directly
  • Amazon (AMZN) is launching AI acceleration insights in CAST highlight for portfolio-scale agentic readiness assessment
  • Americold Realty Trust (COLD) launches "Fit for Purpose" initiative, advancing strategic priorities with targeted incremental annual overhead savings of more than $25 mln
  • Apollo Global Management (APO) will support Alpine Investors’ Apex Service Partners with $2 bln investment, according to WSJ
  • Arq, Inc. (ARQ) announces the appointment of Shimon Steinmetz as Executive Vice President and Chief Financial Officer
  • Astronics (ATRO) receives production order for TS-4549/T radio test sets program
  • Autonomous Power Corporation (PUSA) selected for Phase II qualifier in Pentagon $1 bln drone initiative
  • BCE Inc (BCE) solidifies position as Canada’s Home of the CFL with extensive long-term broadcast and streaming rights extension
  • BeOne Medicines (ONC) Announces Phase 3 HERIZON-GEA Data Published in NEJM and Presented at ASCO 2026
  • Boeing (BA) awarded a $854.6 mln modification to a firm-fixed-price Navy contract
  • ByteDance aiming to produce custom CPU chips. Reuters
  • Cameco (CCJ) announces McArthur River/Key Lake operation resumes production
  • Canadian Pacific Kansas City (CP) receives 72-hour strike notice from IBEW union in Canada
  • Carnival (CCL) provides update on April 2026 cybersecurity incident
  • ClearPoint Neuro (CLPT) enters into 10-year focused ultrasound development partnership with Sungkyunkwan University
  • CVS Health (CVS) and Salesforce expand collaboration; CVS Health will leverage Agentforce Health to support its Aetna and CVS Caremark businesses
  • CVS (CVS), Walgreens, and Walmart (WMT) are no longer facing opioid lawsuit in Florida, according to Reuters
  • CVS Health (CVS) announced updates to its most common commercial formularies, expanding GLP-1 options for members; reintroduces Zepbound (tirzepatide) as a covered medication
  • Dell (DELL) awarded a $9.69 bln single-award, firm-fixed-price blanket purchase agreement under the Department of War Enterprise Software Initiative
  • Elbit Systems (ESLT) awarded $350 mln international tank upgrade contract
  • Eli Lilly (LLY) confirms Foundayo and Zepbound now covered at all three of the nation's largest pharmacy benefit managers
  • Eos Energy (EOSE): Frontier Power USA announces a strategic framework with Stella Energy Solutions; Framework will target conversion of Stella’s pipeline utilizing FPUSA’s previously announced 2 GWh capacity reservation agreement with Eos Energy Enterprises
  • GlaxoSmithKline (GSK) reports bepirovirsen achieves pivotal Phase III functional cure results in chronic hepatitis B
  • Google (GOOG, GOOGL): A Google engineer was charged with insider trading on Polymarket. Bloomberg
  • Fresenius Medical (FMS) launches first tranche of its share buyback program of up to EUR 600 million
  • Alphabet (GOOG) confirms Nano Banana 2 and Nano Banana Pro are now generally available
  • Granite Constr (GVA) announces it has been awarded $41 mln project in Orange County, Florida
  • Hims & Hers Health (HIMS) expands "Hims & Hers Benefits" with new partners across fitness, nutrition, and women’s health, adding iFIT, MyFitnessPal, HelloFresh, Dexcom and others to its wellness subscription ecosystem
  • Honest Company (HNST) discloses it approved the promotion of Curtiss Bruce to CFO and COO
  • Hudbay Minerals (HBM) receives TSX approval for share buyback program
  • IBM (IBM) and Red Hat announce Project Lightwell, a $5 bln commitment backed by new frontier AI capabilities and a global force of more than 20,000 engineers to help enterprises secure open source software
  • ICU Medical (ICUI): FDA issues early alert on ICU Medical IV tubing sets over particulate contamination concerns
  • Jazz Pharma (JAZZ): Phase 3 HERIZON-GEA-01 results published in The New England Journal of Medicine show durable and consistent survival benefit with Ziihera (zanidatamab-hrii) combinations in First-Line HER2+ locally advanced or metastatic GEA
  • Insulet (PODD) trade secret verdict against EOFlow was overturned by U.S. court, according to Reuters
  • JD.com (JD): EU Commission opens in-depth foreign subsidies investigation into JD.com's proposed acquisition of CECONOMY
  • KalVista Pharmaceuticals (KALV) presents new data highlighting the burden of injectable on-demand treatment in young children with hereditary angioedema
  • Kyndryl (KD) and Broadridge extend relationship, strengthening core platforms and integrating AI-enabled operations
  • Eli Lilly (LLY) to present new data on Foundayo, Mounjaro and retatrutide at the American Diabetes Association's 86th Scientific Sessions
  • Meta (META) could enter the cloud computing market. CNBC
  • Microsoft (MSFT) will soon unveil new AI-powered coding framework as part of a rebound plan, according to The Information
  • Nordic American Tanker (NAT) reports quarterly update; increases Q1 dividend to $0.22 per share from $0.17 oer share
  • Nova Minerals Limited (NVA) provides an update on its planned 2026 field season and antimony development activities; Pilot-scale antimony production remains on schedule for late 2026 to early 2027
  • Novartis (NVS) and Ionis Pharmaceuticals (IONS) expect results for a cholesterol drug this summer. WSJ
  • Novo Nordisk A/S (NVO): Felix Health expanded its lower-cost GLP-1 offering for Canadians, with eligible patients now able to receive Ozempic at generic-level pricing through Novo Nordisk’s savings program
  • PDD Holdings (PDD): Commission fines Temu €200 million for breaching the Digital Services Act
  • Perella Weinberg Partners (PWP) plans to reduce their number of employees by 10%, including senior positions, according to Bloomberg
  • REalloys (ALOY) signs MOU with Ramaco to support U.S. rare earth supply chain expansion
  • Rivian Automotive (RIVN): NHTSA opens investigation into 2023-2024 Rivian R1S vehicles due to possible left rear toe link separation
  • Samsung (SSNLF) aiming to spend $1.5 bln on chip testing plant in Vietnam. Reuters
  • Sanofi (SNY) receives FDA priority review for venglustat in type 3 Gaucher disease
  • Six Flags Entertainment (FUN) announces appointment of Ash Walia as Chief Financial Officer, effective June 17, 2026
  • Snowflake (SNOW) signs multi-year strategic collaboration agreement with Amazon Web Services to accelerate enterprise agentic AI adoption; Will make $6 bln multi-year infrastructure commitment to AWS
  • Starbucks (SBUX) sees growth in afternoon visits, fueled by Refreshers and new menu items
  • Synopsys (SNPS) discloses it entered into a cooperation agreement with Elliott Investment Management; appoints Jesse Cohn to board
  • Travere Therapeutics (TVTX) receives notice of allowance from USPTO
  • Tutor Perini (TPC): Perini Management Services awarded $81.8 mln U.S. Coast Guard Family Housing project
  • Virgin Galactic's (SPCE) VSS Unity has returned above Spaceport America in New Mexico for the first of several anticipated glide flights
  • Union Pacific (UNP) and Norfolk Southern Corporation (NSC) applaud the Surface Transportation Board’s decision to accept their merger application
  • Zenas Biopharma (ZBIO) announced the submission of its BLA to the FDA for obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD)
  • Zurn Elkay Water Solutions (ZWS) names new COO and new CFO; Q2 results are tracking very much in line

• Upgrades:
  • Agilent (A) upgraded to Buy from Neutral at BofA Securities, tgt $145
    
  • Dick's Sporting Goods (DKS) upgraded to Overweight from Neutral at JPMorgan, tgt $270
    
  • Dominion Energy (D) upgraded to Buy from Hold at Jefferies, tgt $76
    
  • Equillium (EQ) upgraded to Outperform from Market Perform at Leerink, tgt $6
    
  • Integra LifeSciences (IART) upgraded to Neutral from Sell at Citigroup, tgt $16
    
  • L'Oreal (LRLCY) upgraded to Buy from Hold at Berenberg
    
  • LyondellBasell (LYB) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $98
    
  • Quanta Services (PWR) upgraded to Outperform from Perform at Oppenheimer, tgt $800
• Downgrades:
  • Baxter (BAX) downgraded to Sell from Neutral at Citigroup, tgt $17
    
  • Boston Scientific (BSX) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $55
    
  • Electronic Arts (EA) downgraded to Hold from Buy at Argus
    
  • Heineken (HEINY) downgraded to Hold from Buy at Deutsche Bank
  • Mueller Industries (MLI) downgraded to Neutral from Buy at Northcoast
    
  • PDD Holdings (PDD) downgraded to Equal Weight from Overweight at Barclays, tgt $89
    
  • PDD Holdings (PDD) downgraded to Neutral from Outperform at Macquarie, tgt $87
    
  • RLJ Lodging Trust (RLJ) downgraded to Outperform from Strong Buy at Raymond James, tgt $11
    
  • Verra Mobility (VRRM) downgraded to Neutral from Buy at UBS, tgt $4
• Others:
  • Absci (ABSI) initiated with a Buy at BTIG Research, tgt $9
    
  • Adlai Nortye (ANL) initiated with an Outperform at Oppenheimer, tgt $32
    
  • Alpha Tau Medical (DRTS) initiated with an Overweight at Barclays, tgt $15
    
  • CarGurus (CARG) initiated with an Overweight at Barclays, tgt $35
    
  • Cardinal Infrastructure Group (CDNL) initiated with an Outperform at Oppenheimer, tgt $60
    
  • Cellectis (CLLS) initiated with an Overweight at Barclays, tgt $9
    
  • Comfort Systems USA (FIX) initiated with an Outperform at Oppenheimer, tgt $2,200
    
  • Damora Therapeutics (DMRA) initiated with an Outperform at Wedbush, tgt $35
    
  • Emcor (EME) initiated with an Outperform at Oppenheimer, tgt $1,100
    
  • Encompass Health (EHC) initiated with a Buy at TD Cowen, tgt $125
    
  • Everus Construction (ECG) assumed with an Outperform at Oppenheimer, tgt $185
  • Flowco (FLOC) initiated with a Neutral at Citigroup, tgt $31
    
  • Granite Construction (GVA) initiated with an Outperform at Oppenheimer, tgt $170
    
  • Immunome (IMNM) initiated with an Overweight at Barclays, tgt $36
    
  • Knife River (KNF) assumed with an Outperform at Oppenheimer, tgt $95
    
  • Martin Marietta (MLM) initiated with a Perform at Oppenheimer
    
  • National Healthcare Properties (NHP) initiated with an Outperform at Citizens, tgt $18
    
  • Octave Intelligence (OCTV) initiated with a Buy at Guggenheim, tgt $30
    
  • Omnicom (OMC) resumed with a Neutral at Rothschild & Co Redburn, tgt $89
    
  • Organogenesis (ORGO) initiated with a Hold at Truist, tgt $3
    
  • RB Global (RBA) initiated with an Overweight at Barclays, tgt $124
    
  • Sensei Biotherapeutics (SNSE) initiated with a Buy at Lucid Capital, tgt $50
    
  • Snap-On (SNA) initiated with an Overweight at Barclays,. tgt $420
    
  • Sterling Infrastructure (STRL) initiated with an Outperform at Oppenheimer, tgt $950
    
  • Suncrete (RMIX) initiated with an Outperform at Robert W. Baird, tgt $21
    
  • Sutro Biopharma (STRO) initiated with an Overweight at Barclays, tgt $56
    
  • The Trade Desk (TTD) initiated with a Sell at Rothschild & Co Redburn, tgt $11
    
  • Valmont Industries (VMI) assumed with an Outperform at Oppenheimer, tgt $600
    
  • Valvoline (VVV) initiated with an Equal Weight at Barclays, tgt $35
    
  • Vulcan Materials (VMC) initiated with a Perform at Oppenheimer
    
  • WPP (WPP) initiated with a Buy at Rothschild & Co Redburn

• Econ Data (Friday):
  • 8:30 ET: May advance International Trade in Goods (prior -$87.9 bln), advance Retail Inventories (prior 0.7%), and advance Wholesale Inventories (prior 1.4%)
  • 9:45 ET: May Chicago PMI (Briefing.com consensus 49.5; prior 49.2)

• Earnings:
  • Monday (May 25)
    • Pre-Market: None
    • After-Hours: None
      
    Tuesday (May 26)
    • Pre-Market: AZO SKY CSW
    • After-Hours: BOX MOD SMTC SQM ZS
      
  • Wednesday (May 27)
    • Pre-Market: ANF BMO BNS BBWI CPRI DKS DY KC MNRO PDD
      
    • After-Hours: A BRZE P HEI HPQ MRVL NCNO NTNX PHR CRM SNOW SNPS
      
  • Thursday (May 28)
    • Pre-Market: ATHM BURL CM DLTR HRL KSS LI PLAB RY TD WB
    • After-Hours: AMBA AEO ASAN ADSK COST DELL ESTC GAP HQY MDB NTAP OKTA PD S PATH
  • Friday (May 29)
    • Pre-market: BKE
    • After-Hours: None