After Hours Report

The S&P 500 (-0.6%), Nasdaq Composite (-1.2%), and DJIA (-0.4%) sit just above session lows as a handful of notable earnings misses, possible escalations in the trade standoff with China, and weakness across mega-cap and tech names push the market lower. 

Widening losses in the information technology sector (-1.1%) prompted the major averages to retreat from more modest losses just before midday. 

The PHLX Semiconductor Index is down 3.0% today, with chipmakers facing pressure after Texas Instruments (TXN 168.97, -11.87, -6.56%) missed EPS expectations for the first time in two years and issued below-consensus EPS guidance for Q4. Additionally, management said the semiconductor recovery continues but at a slower pace than prior cycles, as customers remain cautious amid macro and tariff uncertainty.

The sector faced additional pressure as mega-cap names are generally weaker today, which also weighs on the consumer discretionary sector (-1.0%). Tesla (TSLA 433.07, -9.53, -2.15%) lags ahead of its earnings report after the close. Bloomberg reported this morning that the company has recalled some 2025 vehicles due to battery pack issues.

The Vanguard Mega Cap Growth ETF is down 0.9%. 

Alphabet (GOOG 252.18, +0.84, +0.33%) is one of the few mega-cap names to advance (though it is well off its session highs), moving higher after Bloomberg reported the company is in discussions with Anthropic for a cloud deal worth billions of dollars.

Elsewhere in the sector, a rare EPS miss from Netflix (NFLX 1117.31, -124.04, -9.99%) keeps the sector beneath its baseline. The company beat revenue expectations and attributed the earnings miss to a Brazilian gross tax on outbound payments. Despite the company stating that without this one-time item, it would have exceeded its Q3 operating income and margin forecast, the stock moved sharply lower and has yet to see any "buy-the-dip" interest. 

Cellular providers are also under modest pressure after AT&T (T 25.48, -0.56, -2.17%) reported Q3 EPS and revenue as just in-line before the open.

As for today's four advancing sectors, the health care sector (+1.0%) leads the way, supported by strong performances across medical specialties names after Intuitive Surgical (ISRG 526.56, +63.82, +13.79%) beat top and bottom line expectations and raised its FY25 guidance. 

The consumer staples sector (+0.9%) moves higher as a majority of its components hold gains, while the energy sector (+0.4%) benefits from a $1.43 (2.5%) increase in the price of oil to $58.68 per barrel. The real estate sector (+0.3%) holds a more modest gain. 

While the market was already on a downward course from a flattish open, it faced an additional sharp (but brief) dip after Reuters reported that the Trump administration was weighing sweeping software export curbs on China in retaliation for rare earth restrictions.

Aside from the recent China headline, macro-developments continue to be slim ahead of mega-cap earnings and the delayed release of the September Consumer Price Index on Friday. 

Reviewing today's data:

• Weekly MBA Mortgage Applications Index -0.3%; Prior -1.8%

Overseas:

• Europe: DAX -0.7%, FTSE +0.9%, CAC -0.6%
• Asia: Nikkei -0.0%, Hang Seng -0.9%, Shanghai -0.1%

Commodities:

• Crude Oil +1.27 @ 58.51
• Nat Gas -0.02 @ 3.45
• Gold -44.90 @ 4065.70
• Silver -0.03 @ 47.70
• Copper +0.02 @ 4.99

After-Hours Spotlight:

• Century Communities (CCS) beats by $0.70, beats on revs...CCS +8.3%
• IBM (IBM) beats by $0.20, beats on revs; raises FY25 outlook for revs and FCF...IBM -5.6%
• ICON plc (ICLR) beats by $0.01, beats on revs; narrows FY25 EPS in-line, revs above consensus...ICLR -2.9%
• Knight-Swift (KNX) misses by $0.05, beats on revs; guides Q4 EPS in-line...KNX -3.2%
• Lam Research (LRCX) beats by $0.04, beats on revs; guides Q2 EPS above consensus, revs above consensus...LRCX-2.7%
• Las Vegas Sands (LVS) beats by $0.16, beats on revs; increases stock repurchase authorization to $2.0 bln; increases quarterly dividend $0.05/share to $0.30/share...LVS +5.6%
• Medpace (MEDP) beats by $0.33, beats on revs; guides FY25 EPS above consensus, revs above consensus...MEDP +17.1%
• Molina Healthcare (MOH) misses by $2.06, beats on revs; guides FY25 EPS below consensus, revs in-line...MOH -18.1%
• QuantumScape (QS) beats by $0.02, adjusted EBITDA loss was in-line; began shipping Cobra-based QSE-5 B1 samples...QS +7.1%
• Ribbon Communications (RBBN) misses by $0.02, misses on revs; guides Q4 revs below consensus...RBBN -12.2%
• Tesla (TSLA) misses by $0.06, beats on revs, gross margin down 185 bps; Cybercab on track for volume production starting in 2026...TSLA -1.5%
• United Rentals (URI) misses by $0.59, beats on revs; raises FY25 revenue guidance...URI -3.8%
• Wyndham Hotels & Resorts (WH) beats by $0.02, misses on revs; lowers FY25 EPS below consensus...WH -4.4%

Fair Value for Thursday, October 23:

• S&P 500: 6,736
• Nasdaq 100: 25,035
• DJIA: 46,780

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

• Earnings/Guidance (Full Earnings Calendar):
  • Agree Realty (ADC) beats by $0.02, beats on revs; guides FY25 FFO above consensus
  • AT&T (T) reports EPS in-line, revs in-line; reaffirms FY25 EPS guidance
  • Aveanna (AVAH) guides Q3 revenue above consensus
  • Avery Dennison (AVY) beats by $0.04, reports revs in-line; guides Q4 EPS in-line
  • Barclays PLC (BCS) reports Q3 results; updates outlook
  • Boston Scientific (BSX) beats by $0.04, beats on revs; guides Q4 EPS above consensus; guides FY25 EPS above consensus, revs above consensus
  • Capital One (COF) beats by $1.57, beats on revs
  • Cathay Bancorp (CATY) misses by $0.02
  • Chubb (CB) beats by $1.32, beats on revs
  • CME Group (CME) beats by $0.05, reports revs in-line
  • Construction Partners (ROAD) guides FY25 and FY26 revs above consensus
  • East West Banc (EWBC) beats by $0.29; declares dividend
  • EQT Corp. (EQT) beats by $0.15, beats on revs
  • Fulton Fincl (FULT) beats by $0.06
  • GE Vernova (GEV) misses by $0.08, beats on revs; reaffirms FY25 revs guidance
  • Heineken (HEINY) reports Q3 trading update
  • Hilton (HLT) beats by $0.06, beats on revs; guides Q4 EPS in-line; guides FY25 EPS in-line
  • Intuitive Surgical (ISRG) beats by $0.41, beats on revs
  • Ipsen S.A. (IPSEY) reports nine-month results; raises full-year guidance
  • Lennox Int'l (LII) beats by $0.15, misses on revs; lowers FY25 EPS mostly below consensus, revs below consensus
  • Lithia Motors (LAD) beats by $0.93, beats on revs
  • Manhattan Assoc (MANH) beats by $0.17, beats on revs; guides FY25 EPS above consensus, revs in-line; replenishes buyback
  • Matador Resources (MTDR) beats by $0.13, beats on revs; Increases 2025 production guidance range
  • Mattel (MAT) misses by $0.17, misses on revs; reaffirms FY25 EPS guidance, revs guidance
  • M/I Homes (MHO) misses by $0.44 (two analyst estimate), misses on revs
  • Moody's (MCO) beats by $0.22, beats on revs; guides FY25 EPS above consensus
  • National Bank (NBHC) beats by $0.07, beats on revs
  • Netflix (NFLX) misses by $1.09, reports revs in-line; guides Q4 EPS above consensus, revs above consensus
  • Northern Oil & Gas (NOG) boosts production guidance, closes $98 mln Uinta Royalty acquisition
  • Northern Trust (NTRS) beats by $0.03, reports revs in-line
  • OFG Bancorp (OFG) misses by $0.01, misses on revs
  • Old National Bancorp (ONB) beats by $0.03
  • Omnicom (OMC) beats by $0.08, reports revs in-line
  • Pathward Financial (CASH) misses by $0.04, misses on revs
  • Pegasystems (PEGA) beats by $0.10, beats on revs
  • PennyMac (PFSI) beats by $0.67, beats on revs
  • PROG Holdings (PRG) beats by $0.16, beats on revs; guides Q4 EPS below consensus, revs below consensus; guides FY25 EPS above consensus, revs below consensus
  • Stifel Financial (SF) beats by $0.10, beats on revs
  • T1 Energy (TE) provides sales volume guidance and reaffirms FY25 EBITDA guidance
  • Taylor Morrison Home (TMHC) beats by $0.16, beats on revs
  • Teck Resources (TECK) beats by CAD0.16, beats on revs
  • Teledyne Tech (TDY) beats by $0.10, reports revs in-line; guides Q4 EPS in-line
  • Texas Instruments (TXN) misses by $0.01, beats on revs; guides Q4 EPS below consensus, revs in-line
  • Thermo Fisher (TMO) beats by $0.29, beats on revs; Will provide 2025 guidance during earnings call
  • Travel + Leisure Co (TNL) beats by $0.09, beats on revs
  • United Comm Banks (UCB) beats by $0.05, beats on revs
  • Vale S.A. (VALE) reports Q3 production
  • Vertiv (VRT) beats by $0.26, beats on revs; guides Q4 EPS in-line, revs above consensus
  • Vicor (VICR) beats by $0.46, beats on revs
  • VinFast Auto (VFS) announced its preliminary vehicle deliveries for the third quarter of 2025
  • Wabtec (WAB) beats by $0.04, reports revs in-line; raises FY25 EPS guidance, reaffirms FY25 revs guidance
  • Waste Connections (WCN) beats by $0.06, reports revs in-line; reaffirms FY25 revs guidance; increases quarterly dividend 11% to $0.35/share from $0.315/share
  • Weatherford (WFRD) misses by $0.05, beats on revs; on track to meet FY25 guidance
  • Western Alliance Bancorp (WAL) beats by $0.20, beats on revs
  • Winnebago (WGO) beats by $0.18, beats on revs; guides FY26 revs in-line, mid-point of FY26 EPS guidance above consensus
  • Woodside Energy Group (WDS) reports Q3 production; updates FY25 outlook
• General News
  • President Trump says he will no longer meet with Russian President Putin because it would be a "waste of time", according to NY Times
  • Russia conducted a test of land, air, and sea nuclear forces, according to Reuters
  • The Trump Administration is planning a new investigation into overseas drug pricing, including weight loss drugs, according to FT
  • The Trump administration is planning to release $3 bln in aid to farmers, according to WSJ
  • EU working on trade options to counter China's rare earth restrictions, according to Bloomberg
  • COVID-19 vaccines could help cancer drugs work better, according to Reuters
  • Trump administration weighs sweeping software export curbs on China in retaliation for rare earth restrictions, according to Reuters
  • The Trump administration removes restriction on Ukraine’s use of some longer range missiles, according to WSJ
  • Alector (ALEC) announces results from the Phase 3 INFRONT-3 clinical trial evaluating latozinemab (AL001) in individuals with frontotemporal dementia due to a progranulin gene mutation
  • Alphabet (GOOG) responds to UK CMA’s designation of Google’s mobile ecosystem
  • Amazon (AMZN) is introducing Blue Jay and Project Eluna, Amazon’s latest robotics and AI technology for its operations (217.11 -4.92)
    Blog Update
  • American Electric (AEP) increases quarterly dividend to $0.95/share from $0.93/share
  • Armata Pharmaceuticals (ARMP) highlights positive results from Phase 2a diSArm study of its staphylococcus aureus bacteriophage cocktail, AP-SA02, in late-breaking oral presentation at IDWeek 2025
  • Apollo Global Management (APO) mulling sale of Heritage Grocers Group, according to Reuters
  • Apple's (AAPL) Vision Pro will be assembled in Vietnam, according to Bloomberg
  • Arcturus Therapeutics (ARCT) provides interim phase 2 data for cystic fibrosis program
  • AstraZeneca (AZN) and Amgen (AMGN) receive approval of Tezspire in EU
  • Avadel Pharmaceuticals (AVDL) announces the global settlement of all litigation with Jazz Pharmaceuticals Inc. (JAZZ)
  • Barclays PLC (BCS) releases update in relation to compensation scheme for motor finance customers; announces GBP500 mln buyback
  • Bio-Rad Labs (BIO): Biodesix (BDSX) announces the signing of an expanded partnership agreement under which Biodesix will conduct the development, clinical validation, and regulatory submissions of in vitro diagnostic assays to enable highly sensitive detection of multiple genomic markers focused on oncology applications, utilizing Bio-Rad’s Droplet Digital PCR technology on Bio-Rad’s QX600 platform
  • Blackrock (BLK) is a large investor in Meta's (META) data center project, according to WSJ
  • Boeing (BA): IAM Union 837 says they will not vote for Boeing's offer
  • BriaCell Therapeutics (BCTX) receives positive recommendation from data safety monitoring board for Phase 3 Study in Metastatic Breast Cancer
  • Capital One (COF) authorized the repurchase of up to $16 billion of shares of its common stock
  • Century Aluminum's (CENX) Norðurál Grundartangi ehf subsidiary, announces that it was forced to temporarily stop production on one of its two potlines due to an electrical equipment failure at the Grundartangi, Iceland aluminum smelter
  • CGI Group (GIB) announces that its wholly owned Polish subsidiary, CGI Information Systems and Management Consultants sp. z o.o. has entered into a conditional agreement to acquire Comarch Polska SA, a subsidiary of Comarch SA, specializing in IT solutions for public administration
  • Charter (CHTR) aiming to eliminate 1200 jobs, according to WSJ
  • Datavault AI (DVLT) and Wellgistics Health (WGRX) announce the two companies have entered into a non-binding letter of intent to implement manufacturer-to-patient blockchain-enabled smart contracts into Wellgistics proprietary Technology and Physical infrastructure for the prescription drug industry
  • DraftKings (DKNG): NHL secures licensing deal with Kalshi and Polymarket hoping to compete with DKNG, according to WSJ
  • Dynavax (DVAX) presents positive topline data from Part 1 of Phase 1/2 Trial for Shingles Vaccine Candidate at IDWeek 2025 and announces initiation of part 2 of trial
  • Electronic Arts (EA) and the National Football League today announced an expanded, multi-year exclusive agreement to grow American football worldwide
  • First Solar (FSLR) entered into two separate Tax Credit transfer agreements with a leading digital payments company
  • General Motors (GM) to launch eyes-off driving and conversational AI
  • GlaxoSmithKline (GSK) reports pivotal phase III data for next-generation low carbon version of Ventolin (salbutamol) metered dose inhaler
  • Google (GOOG): Anthropic and Google in discussions for a cloud deal worth billions of dollars, according to Bloomberg
  • Granite Constr (GVA) has begun construction of an approximately $138 mln rehabilitation project, awarded by the Chicago Department of Transportation for the iconic Lake Street Bascule Bridge in Chicago, Illinois
  • I-Mab (IMAB) to present positive updated givastomig monotherapy data at 2025 AACR-NCI-EORTC Molecular Targets and Cancer Therapeutics conference on October 23, 2025
  • Intercontinental Exchange (ICE) announces that its global futures and options markets reached record open interest of 107.6 million contracts on October 20, 2025, up 16% year-over-year
  • Manhattan Assoc (MANH) announces the appointment of Greg Betz to the position of Chief Operating Officer
  • Marsh McLennan (MMC) and Bloomberg Media announce a strategic knowledge partnership powering select Bloomberg Media event properties, including Bloomberg New Economy Forum, Bloomberg New Economy Coalitions, Qatar Economic Forum, Bloomberg House at Davos and Bloomberg Invest New York
  • McEwen Mining (MUX) reports windfall drilling at Gold Bar Mine Complex Intersects Significant Mineralization: 2.4 GPT Oxide Gold Over 74.7 Meters & 6.1 GPT High-Grade Gold Over 6.1 Meters
  • Mercury (MRCY) awarded a multi-year, cost-plus-fixed-fee development contract in September to develop a multi-mission, multi-domain subsystem for a U.S. defense prime contractor
  • Meta Platforms (META) and funds managed by Blue Owl Capital (OWL) enter into a joint venture agreement which will develop and own the Hyperion data center campus
  • Meta Platforms (META) aiming to eliminate 600 jobs in its artificial intelligence division, according to NY Times
  • Micron (MU) announced that Richard M. Beyer and Mary Pat McCarthy have informed the company that they will retire from its board of directors at the annual shareholders meeting expected to be held on Jan. 15, 2026
  • Nature Wood Group Limited (NWGL) announces a change in its controlling shareholder following the closing of a private transaction
  • NexMetals Mining (NEXM) metallurgical assay results confirm clean copper & nickel-cobalt concentrates from Selebi Mines
  • Novartis AG (NVS) reports Cosentyx meets primary and all secondary endpoints in Phase III trial
  • Novavax (NVAX) signs definitive agreements related to one of its Maryland-based locations and surrounding property that will result in $60 mln in payments to the company
  • Novo Nordisk (NVO) will focus on U.S. consumers after board changes, according to Reuters
  • Nurix (NRIX) initiates DAYBreak pivotal study of Bexobrutideg in Relapsed or refractory chronic lymphocytic leukemia
  • Pfizer (PFE): Flagship Pioneering unveils Expedition Medicines; Multi-target exploration agreement in prostate cancer initiated under strategic partnership with Pfizer
  • PHINIA (PHIN) details settlement agreement with BorgWarner (BWA); expects to record a loss of approximately $39 million in Q3
  • PureTech (PRTC) Presents New Phase 2b Analyses Demonstrating Consistent Safety and Efficacy of Deupirfenidone in Older Patients with Idiopathic Pulmonary Fibrosis (IPF), a Historically Undertreated Group
  • Quipt Home Medical (QIPT): Lakeview Opportunity Fund, LLC expressed its belief that the Company’s Board of Directors has undermined the best interests of shareholders by failing to engage in good faith with a credible bidder as part of a transparent and viable strategic review
  • Reddit (RDDT) sues data scrapers, alleges firms like SerpApi and Perplexity illegally sold Google-sourced data to AI companies, according to NYT
  • Revolution Medicines (RVMD) to present updated clinical data for elironrasib, a RAS(ON) G12C-selective inhibitor
  • Samsung (SSNLF) unveiled Galaxy XR, introducing a new category of AI-native devices designed to deliver immersive experiences in a form factor optimized for multimodal AI
  • Sanofi (SNY) reports efdoralprin alfa met all primary and key secondary endpoints in alpha-1 antitrypsin deficiency emphysema phase 2 study
  • SCHMID Group N.V. (SHMD) secures major orders for AI Server PCB Production Equipment
  • Siemens (SIEGY) will use JP Morgan's (JPM) blockchain foreign exchange platform, according to Bloomberg
  • STAAR Surgical (STAA): Broadwood Partners intends to call special meeting to remove several STAAR Surgical Directors
  • Takeda Pharma (TAK) enters global strategic partnership with Innovent Biologics
  • Terns Pharmaceuticals (TERN) announces topline 12-week results from its Phase 2 trial of TERN-601, a novel, once-daily, oral GLP-1 receptor agonist (GLP-1RA) as a potential treatment for obesity
  • Uber (UBER): Avride secures strategic investment and other commitments of up to $375 million, backed by Uber and Nebius (NBIS)
  • Venture Global (VG) statement on CP2 final approval
  • Village Farms (VFF) announces another Canadian first innovation from its Pure Sunfarms brand: the launch of a one-way aroma valve built directly into its dried flower packaging
  • Vistra Corp. (VST) has completed the acquisition of seven modern natural gas generation facilities totaling approximately 2,600 MW of capacity from Lotus Infrastructure Partners
  • Werner Enterprises (WERN) reached an agreement with the plaintiffs in the consolidated class action lawsuits

• Upgrades:
  • 3M (MMM) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $160
  • Badger Meter (BMI) upgraded to Buy from Hold at Stifel, tgt $215
    
  • Banco Macro (BMA) upgraded to Overweight from Neutral at JPMorgan, tgt $79
    
  • BioAge Labs (BIOA) upgraded to Buy from Neutral at Citigroup, tgt $10
    
  • Flywire (FLYW) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $16
    
  • Galapagos (GLPG) upgraded to Outperform from Market Perform at Leerink, tgt $40
    
  • H.B. Fuller (FUL) upgraded to Buy from Neutral at Citigroup, tgt $70
    
  • Halliburton (HAL) upgraded to Buy from Hold at HSBC, tgt $30
    
  • Halliburton (HAL) upgraded to Outperform from Sector Perform at RBC Capital, tgt $31
    
  • Hyatt (H) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $168
    
  • Int'l Consolidated Airlines (ICAGY) upgraded to Buy from Neutral at Goldman
    
  • Kinetik Holdings (KNTK) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $45
    
  • Manhattan Associates (MANH) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $200
  • PACCAR (PCAR) upgraded to Peer Perform from Underperform at Wolfe Research
    
  • Topgolf Callaway (MODG) upgraded to Buy from Hold at Texas Capital, tgt $12
    
  • WEX (WEX) upgraded to Buy from Neutral at BofA Securities, tgt $178
• Downgrades:
  • Alector (ALEC) downgraded to Neutral from Buy at BTIG Research
    
  • Alector (ALEC) downgraded to Market Perform from Outperform at William Blair
    
  • Alector (ALEC) downgraded to Neutral from Overweight at Cantor Fitzgerald
    
  • Alector (ALEC) downgraded to Hold from Buy at TD Cowen
    
  • Alector (ALEC) downgraded to Neutral from Outperform at Mizuho, tgt $1.50
    
  • BNP Paribas (BNPQY) downgraded to Equal Weight from Overweight at Barclays
    
  • Commercial Metals (CMC) downgraded to Hold from Buy at Jefferies, tgt $70
    
  • Gartner (IT) downgraded to Equal Weight from Overweight at Barclays, tgt $270
    
  • Grupo Financiero Galicia (GGAL) downgraded to Neutral from Overweight at JPMorgan, tgt $46
    
  • Grupo Supervielle (SUPV) downgraded to Underweight from Neutral at JPMorgan, tgt $5
    
  • Global Payments (GPN) downgraded to Sector Weight from Overweight at KeyBanc
    
  • HP Inc. (HPQ) downgraded to Neutral from Overweight at JPMorgan, tgt $30
    
  • W. R. Berkley (WRB) downgraded to Underperform from Market Perform at BMO Capital, tgt $64
• Others:
  • Accenture (ACN) initiated with an Equal Weight at Wells Fargo, tgt $251
    
  • ADP (ADP) initiated with an Underweight at Wells Fargo, tgt $288
    
  • Affirm (AFRM) initiated with an Overweight at Wells Fargo, tgt $89
    
  • American Electric (AEP) initiated with a Neutral at BTIG Research
    
  • AppLovin (APP) initiated with a Buy at Deutsche Bank, tgt $705
    
  • Block (XYZ) initiated with an Overweight at Wells Fargo, tgt $91
  • Caterpillar (CAT) initiated with a Sector Perform at RBC Capital, tgt $560
    
  • Chesapeake Utilities (CPK) initiated with a Neutral at BTIG Research
    
  • Circle Internet (CRCL) initiated with an Overweight at Wells Fargo, tgt $160
    
  • Cognizant (CTSH) initiated with an Overweight at Wells Fargo, tgt $82
    
  • Dominion (D) initiated with a Neutral at BTIG Research
    
  • Deere (DE) initiated with an Outperform at RBC Capital, tgt $542
    
  • Dell Technologies (DELL) initiated with an Overweight at Piper Sandler, tgt $172
    
  • Duke Energy (DUK) initiated with a Buy at BTIG Research, tgt $150
    
  • Epam Systems (EPAM) initiated with an Overweight at Wells Fargo, tgt $185
    
  • Entergy (ETR) initiated with a Buy at BTIG Research, tgt $111
    
  • Exelon (EXC) initiated with a Neutral at BTIG Research
    
  • Fiserv (FI) initiated with an Equal Weight at Wells Fargo, tgt $130
    
  • FIS (FIS) initiated with an Overweight at Wells Fargo, tgt $81
    
  • Global Payments (GPN) initiated with an Overweight at Wells Fargo, tgt $103
    
  • Globant (GLOB) initiated with an Equal Weight at Wells Fargo, tgt $61
    
  • H2O America (HTO) initiated with a Neutral at BTIG Research
    
  • HP Enterprise (HPE) initiated with a Neutral at Piper Sandler, tgt $24
    
  • Idacorp (IDA) initiated with a Buy at BTIG Research, tgt $157
    
  • Jack Henry (JKHY) initiated with an Equal Weight at Wells Fargo, tgt $161
    
  • Klarna (KLAR) initiated with an Overweight at Wells Fargo, tgt $45
    
  • Klaviyo (KVYO) initiated with a Buy at Jefferies, tgt $32
    
  • MasterCard (MA) initiated with an Overweight at Wells Fargo, tgt $669
    
  • NextEra Energy (NEE) initiated with a Buy at BTIG Research, tgt $98
    
  • Natural Grocers (NGVC) initiated with a Buy at Northcoast, tgt $54
    
  • Northwest Natural Gas (NWN) initiated with a Buy at BTIG Research, tgt $53
    
  • Paychex (PAYX) initiated with an Underweight at Wells Fargo, tgt $128
    
  • Peoples Bancorp (PEBO) assumed with a Buy at DA Davidson, tgt $33
    
  • Performance Food Group (PFGC) initiated with an Outperform at Bernstein, tgt $130
    
  • Portland General Electric (POR) initiated with a Buy at BTIG Research, tgt $52
    
  • PPL Corp. (PPL) initiated with a Buy at BTIG Research, tgt $44
    
  • PSEG (PEG) initiated with a Buy at BTIG Research, tgt $98
    
  • PayPal (PYPL) initiated with an Equal Weight at Wells Fargo, tgt $74
    
  • Ryman Hospitality (RHP) initiated with an Equal Weight at Morgan Stanley, tgt $92
    
  • Sagimet Biosciences (SGMT) initiated with a Buy at Clear Street, tgt $29
    
  • SkyWater Technology (SKYT) initiated with a Buy at Stifel, tgt $25
    
  • Southern Company (SO) initiated with a Neutral at BTIG Research
    
  • Spire (SR) initiated with a Buy at BTIG Research, tgt $99
    
  • Sempra Energy (SRE) initiated with a Buy at BTIG Research, tgt $106
    
  • Sysco (SYY) initiated with a Market Perform at Bernstein, tgt $83
    
  • Toast (TOST) initiated with an Overweight at Wells Fargo, tgt $47
    
  • Unity (U) initiated with a Hold at Deutsche Bank, tgt $39
    
  • United Rentals (URI) initiated with an Outperform at RBC Capital, tgt $1,152
    
  • US Foods (USFD) initiated with an Outperform at Bernstein, tgt $95
    
  • Visa (V) initiated with an Overweight at Wells Fargo, tgt $412
    
  • WEC Energy (WEC) initiated with a Buy at BTIG Research, tgt $136
    
  • Xcel Energy (XEL) initiated with a Buy at BTIG Research, tgt $96

• Econ Data (Thursday):
  • 10:00 ET: September Existing Home Sales (Briefing.com consensus 4.05 mln; prior 4.00 mln)
  • 10:30 ET: Weekly natural gas inventories (prior +80 bcf)

• Earnings:
  • Monday (Oct 20)
    • Pre-Market: CLF
    • After-Hours: BOKF CADE CCK RLI STLD WRB WTFC ZION
      
    Tuesday (Oct 21)
    • Pre-Market: MMM BMI BCPC KO CBU DHR ELV EFX GATX GE GM GPC HAL LMT NDAQ NOC PCAR PNR PM PHM DGX RTX VMI
    • After-Hours: ADC COF CATY CB EWBC EQT ISRG FULT MANH MTDR MAT NBHC NFLX OMC CASH PEGA PFSI TXN VICR WAL WFRD
      
  • Wednesday (Oct 22)
    • Pre-Market: APH T AVY BKU BSX CME FRME GEV HCSG HLT LII LAD MHO MCO NTRS OFG ONB PTEN PRG SF TMHC TDY TMO TNL UNF UCB VRT WAB WGO
      
    • After-Hours: AA ASGN BANC CACI CCS CHDN CLB CCI ELS EPRT FAF FE GL GSHD GGG HLX HXL IBM ICLR KALU KMI KNX LRCX LVS LC MEDP MOH ORLY OII PKG PLXS QS RJF RS RBBN RHI SAP SEIC SIGI SON TSLA TCBI URI VKTX WDFC WSBC WH
  • Thursday (Oct 23)
    • Pre-Market: ALLE AB AAL AMBP AUB AN BX BFH BC CRS CBRE CNP DAR DOV DOW EEFT XPRO FBP FCX FCN GTX THRM HAS HON IMAX ITGR IRDM LADR LUV LAZ LNN MRP MBLY MSM NOK ORI PCG POOL BPOP ROP R SMPL SAH STM TMUS FTI TXT TSCO TRU TPH UNP VLO VLY VC WST
    • After-Hours: ALK ASB BKR BYD CYH COUR CUBI DECK DLR EGP ELME ENVA FFBC F DOC HTH INTC KNSL KN MXL MHK MGRC MTX NEM NXT NSC PECO SLM SSNC VRSN WU WKC WSFS
  • Friday (Oct 24)
    • Pre-Market: BAH FHB FLG GD GNTX HCA ITW PG SNY STEL
    • After-Hours: None