After Hours Report

The S&P 500 (+0.3%), Nasdaq Composite (+0.2%), and DJIA (+0.9%) steadily improved throughout the day, notching gains that now seat the major averages at or above their baselines for the week. 

Today's action marks the second consecutive higher finish for the major averages after Monday's cryptocurrency-fueled slide, though the gains came in an entirely different fashion. 

Yesterday's gains came on leadership from tech names and weaker breadth that saw just three S&P 500 names trade higher. Today, however, advancers outpaced decliners by a roughly 5-to-2 clip on the NYSE and the Nasdaq, and nine S&P 500 sectors finished higher. 

To add to the juxtaposition, the information technology sector (-0.4%) was one of very few weak spots in today's trade, though its substantial improvement throughout the session played a key role in the major averages finishing higher across the board. 

Microsoft (MSFT 477.73, -12.27, -2.50%) was at the center of what was arguably today's most widely discussed news item. Before the open, The Information reported the company lowered AI software sales quotas as customers resist newer products. A spokesperson for the company refuted the claim to CNBC, and The Information then changed its headline to reflect that the company is lowering AI sales growth targets, not sales quotas. 

The stock's retreat set a shaky early tone for mega-cap and tech stocks. 

NVIDIA (NVDA 179.59, -1.87, -1.03%), which inhabits both of those realms, traded lower, though relative strength across chipmaker names pushed the PHLX Semiconductor Index 1.8% higher. 

A 0.3% dip in the utilities sector (which has substantially underperformed this week) was the only other blemish on a day that was defined by broad-based strength. 

The energy sector (+1.8%) captured the widest gain as crude oil futures settled today's session $0.28 higher (+0.5%) at $58.95 per barrel, and natural gas settled today's session $0.16 higher (+3.3%) at $5.00 per MMBtu, a level not seen since December 2022. 

The financials sector (+1.3%) was another top mover, supported by solid gains across its major banking names. Robinhood Markets (HOOD 133.64, +7.69, +6.11%) and Coinbase Global (COIN 276.92, +13.66, +5.19%) were once again at the top of the sector's standings as Bitcoin continues to recover from Monday's slide, reclaiming the $93,000 mark. 

Elsewhere, the consumer discretionary sector (+0.8%) reflected the mixed disposition across the market's largest names that saw the Vanguard Mega Cap Growth ETF finish flat. Tesla (TSLA 446.74, +17.50, +4.08%) traded sharply higher after Politico reported that President Trump is considering issuing an executive order next year to accelerate growth and development across the robotics industry. Amazon (AMZN 232.43, -1.99, -0.85%), however, was a laggard.

Homebuilders such as D.R. Horton (DHI 165.00, +6.54, +4.13%) and Lennar (LEN 133.16, +3.43, +2.64%) contributed to the gains as the market's elevated expectations for a December rate cut continue to hold steady. The iShares U.S. Home Construction ETF finished 2.1% higher. 

Though not constituents of the consumer discretionary sector, American Eagle (AEO 23.97, +3.14, +15.07%) and Dollar Tree (DLTR 112.92, +3.94, +3.61%) turned in solid earnings reports, which boosted retailer names and sent the State Street SPDR S&P Retail ETF 1.4% higher. 

The market also received a full slate of economic data this morning. A surprise dip in the November ADP Employment Change Report (-32K; Briefing.com consensus: 20K) prompted some questions around the growth outlook, though the solid performances across cyclical sectors and the outperformance of the small-cap Russell 2000 (+1.9%) suggest that the market remains fixated on the potential of a rate cut to keep the economy on a growth trajectory. 

Ultimately, today's move, and its stark contrast to yesterday's, highlights some back-and-forth action as the market awaits its next major catalyst in the form of next week's FOMC decision. While stocks have seen some choppiness, the major averages now sit at or above their unchanged levels for the week, an indication that, even with the day-to-day swings, underlying support remains strong as the market positions itself for next week's FOMC decision.

U.S. Treasuries extended their rebound from Tuesday, returning most tenors to their opening levels from Monday. The 2-year note yield settled down three basis points to 3.49%, and the 10-year note yield settled down three basis points to 4.06%.

• Nasdaq Composite: +21.5% YTD
• S&P 500: +16.5% YTD
• Russell 2000: +12.6% YTD
• DJIA: +12.6% YTD
• S&P Mid Cap 400: +5.8% YTD

Reviewing today's data:

• Weekly MBA Mortgage Applications Index -1.4%; Prior 0.2%
• November ADP Employment Change -32K (Briefing.com consensus 20K); Prior was revised to 47K from 42K
• September Import Prices 0.0%; Prior was revised to 0.1% from 0.3%
• September Import Prices ex-oil 0.2%; Prior was revised to 0.1% from 0.4%
• September Export Prices 0.0%; Prior was revised to 0.1% from 0.3%
• September Export Prices ex-ag. 0.0%; Prior was revised to 0.1% from 0.3%
• September Industrial Production 0.1% (Briefing.com consensus 0.1%); Prior was revised to -0.3% from 0.1%; September Capacity Utilization 75.9% (Briefing.com consensus 77.3%); Prior was revised to 75.9% from 77.4%
  • The key takeaway from the report is the downshift in the capacity utilization rate, which implies there is slack in the industrial sector that should translate into reduced inflation pressure.
• November S&P Global U.S. Services PMI - Final 54.1; Prior 54.8
• November ISM Services 52.6% (Briefing.com consensus 52.4%); Prior 52.4%
  • The key takeaway from the report is that activity in the services sector remains in expansion mode, yet that expansion is somewhat tepid, evidenced by this low November reading that is 10 percentage points less than the 12-month average since February 2022, when it stood at 62.6%.

Overseas:

• Europe: DAX -0.1%, FTSE -0.1%, CAC +0.2%
• Asia: Nikkei +1.1%, Hang Seng -1.3%, Shanghai -0.5%

Commodities:

• Crude Oil +0.28 @ 58.95
• Nat Gas +0.16 @ 5.00
• Gold +12.20 @ 4232.30
• Silver -0.12 @ 58.62
• Copper +0.15 @ 5.39

After-Hours Spotlight:

• Alaska Air (ALK) lowers Q4 EPS guidance below consensus estimate, lowers RASM guidance...ALK -1.9%
• Descartes (DSGX) beats by $0.04, beats on revs; names new CFO, effective March 2026; has filed with TSX a notice of intention to commence an NCIB...DSGX +3.6%
• Five Below (FIVE) beats by $0.43, beats on revs; comp sales +14.3%; raises FY26 EPS and revenue guidance above consensus; raises FY26 comp sales guidance...FIVE +1.7%
• Guidewire Software (GWRE) beats by $0.05, beats on revs; raises FY26 revs above consensus...GWRE +3.3%
• HealthEquity (HQY) beats by $0.10, reports revs in-line; guides FY26 EPS in-line, revs in-line...HQY +2.1%
• PVH (PVH) beats by $0.29, reports revs in-line; narrows FY25 EPS and revenue growth guidance...PVH -2.0%
• Salesforce (CRM) beats by $0.39, reports revs in-line, cRPO up 11% yr/yr; guides Q4 EPS in-line, revs above consensus...CRM +3.9%
• Snowflake (SNOW) beats by $0.04, beats on revs, product revenue up 29%; Guides for Q4 product revenue growth of 27%...SNOW -6.6%
• UiPath (PATH) beats by $0.01, beats on revs; guides Q4 revs in-line...PATH +8.7%

Fair Value for Thursday, December 4:

• S&P 500: 6,860
• Nasdaq 100: 25,650
• DJIA: 47,938

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

• Earnings/Guidance (Full Earnings Calendar):
  • Acadia Healthcare (ACHC) updates PLGL reserves following annual actuarial review; lowers FY25 EPS below consensus
  • Airbus (EADSY) revises 2025 delivery outlook, confirms financial guidance
  • American Eagle (AEO) beats by $0.09, reports revs in-line; comp sales +4%; raises Q4 comp sales guidance
  • Asana (ASAN) beats by $0.01, beats on revs; raises FY26 EPS and revenue guidance above consensus
  • Box (BOX) misses by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs in-line
  • CrowdStrike (CRWD) beats by $0.02, beats on revs, net new ARR growth of 73%; guides Q4 EPS above consensus, revs in-line
  • CubeSmart (CUBE) provides investor updates in presentation
  • Dollar Tree (DLTR) beats by $0.12, beats on revs; guides Q4 EPS in-line, revs in-line
  • Enbridge (ENB) reaffirms compound annual growth rate outlook; raises quarterly dividend 3% to $0.97/share
  • Energizer (ENR) provides investor updates in presentation with outlook
  • GitLab (GTLB) beats by $0.05, beats on revs; guides Q4 EPS in-line, revs in-line; names new CFO
  • Glencore Intl plc (GLNCY) provides updates for its Capital Markets Day 2025
  • Grocery Outlet (GO) guides Q4 EPS to the low end of prior range due to impacts from government shutdown
  • Macy's (M) beats by $0.22, beats on revs; raises FY26 EPS in-line, revs above consensus
  • Marvell (MRVL) beats by $0.02, reports revs in-line; guides Q4 EPS in-line, revs in-line; to acquire Celestial AI
  • Microchip (MCHP) raises Q3 EPS and revenue guidance
  • O-I Glass (OI) provides investor updates in presentation
  • Okta (OKTA) beats by $0.06, beats on revs; raises FY26 EPS and revenue guidance above consensus
  • Old Dominion (ODFL) reports certain LTL operating metrics for November 2025
  • Pure Storage (PSTG) reports EPS in-line, revs in-line; guides Q4 revs in-line
  • Royal Bank of Canada (RY) beats by CAD0.30, beats on revs; raises dividend
  • Sprinklr (CXM) beats by $0.03, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Telus (TU) outlines FCF growth targets and capital return changes
  • Thor Industries (THO) beats by $0.48, beats on revs; reaffirms FY26 EPS guidance, revs guidance
  • VTEX (VTEX) customers drive $1 bln in Black Friday-Cyber Monday sales
• General News
  • Russia and Ukraine did not reach a peace deal following this week's talks with U.S. officials, according to WSJ
  • Republican Matt Van Epps wins the Tennessee special election, which will add one member to the Republican House majority, according to NY Times
  • The Trump administration canceled Fed Chairman interviews because President Trump suggested Kevin Hassett will get the job, according to WSJ
  • The Trump administration plans to block SNAP management funds in Democratic states, according to Washington Post
  • November Class 5-8 truck orders declined 33%, according to Act Research
  • EU agrees to permanently stop Russian gas imports and phase out Russian oil by end of 2026
  • President Trump signs “Taiwan Assurance Implementation Act,” which permanently extends existing requirements for the Department of State to review and report on its guidance to Executive Branch agencies and offices on relations with Taiwan
  • Several U.S. soybean cargoes are being prepared to ship to China, according to Bloomberg
  • IDC says worldwide smartphone market to grow 1.5% in 2025, boosted by record Apple (AAPL) Shipments in 2025 of 247.4 million units and 6.1% yoy growth
  • ADC Therapeutics (ADCT) Announces Updated Data from LOTIS-7 Phase 1b Clinical Trial of ZYNLONTA® in Combination with Bispecific Antibody Supporting Potential Best-in-Class Regimen in Patients with Relapsed/Refractory Diffuse Large B-cell Lymphoma
  • AerCap (AER) approved a share repurchase program authorizing total repurchases of up to $1 billion of AerCap ordinary shares through June 30, 2026
  • Aeva (AEVA) announces that a Top European passenger OEM has selected Aeva as its exclusive LiDAR supplier for its global series-production vehicle platform to enable Level 3 automated driving
  • Amazon (AMZN): Sony Pictures (SONY) Core is now available on Prime Video in the United States and Canada
  • Amazon (AMZN): AWS simplifies model customization to help customers build faster, more efficient AI agents
  • Amazon (AMZN) Web Services and Supabase empower app developers to build in a weekend, scale to millions
  • Apple (AAPL) executive Alan Dye will leave the company and join Meta (META), according to Bloomberg
  • Archer Aviation (ACHR) outlines Miami air taxi network and infrastructure partnerships
  • BAE Systems (BAESY) launches Velhawk Cybersecurity Solutions to strengthen customer resilience and accelerate cyber defense
  • Bayer AG (BAYRY) reveals from the QUANTI Pediatric study, adding to the pharmacokinetic, safety and efficacy data of the investigational low-dose MRI gadolinium-based contrast agent (GBCA) gadoquatrane
  • Becton Dickinson (BDX) announced the global commercial release of new configurations of cell analyzers featuring breakthrough spectral and real-time cell imaging technologies
  • Biogen (BIIB): New Data Presented at the Clinical Trials on Alzheimer's Disease (CTAD) Conference 2025 confirms pharmacological effect of LEQEMBI (lecanemab-irmb) on Neurotoxic Aß Protofibrils in CSF
  • BioHarvest Sciences (BHST) announces the U.S. launch of VINIA Blood Flow Hydration, the first hydration solution powered by the blood flow benefits of VINIA's Piceid resveratrol
  • Black Diamond Therapeutics (BDTX) announces topline data from its Phase 2 trial of silevertinib in frontline non-small cell lung cancer patients with non-classical epidermal growth factor receptor mutations and outlined plans for a randomized Phase 2 trial of silevertinib in patients with newly diagnosed glioblastoma
  • Black Stone Minerals (BSM) signs multi-year Shelby Trough development agreement
  • Blackstone (BX) to sell Queens' shops at Skyview for $425 mln to TPG-Acadia venture, according to Bloomberg
  • Box (BOX) announces new $150 million expansion of stock repurchase program
  • Bristol-Myers (BMY): Terray Therapeutics achieves AI-enabled drug discovery milestone in collaboration with Bristol Myers Squibb
  • Bristol-Myers (BMY) announces continuation of ADEPT-2 phase 3 study in psychosis associated with Alzheimer's Disease
  • BWX Technologies (BWXT), alongside Idaho National Laboratory, the U.S. Army and the Department of War Strategic Capabilities Office, announces the arrival at INL of TRISO nuclear fuel for the Project Pele microreactor
  • Capricor Therapeutics (CAPR) announces positive topline results from its pivotal Phase 3 HOPE-3 trial evaluating Deramiocel, the Company’s investigational cell therapy for the treatment of Duchenne muscular dystrophy
  • Cassava Sciences (SAVA): FDA requires additional information in order to assess the risks to human subjects and to provide sufficient support for the initiation of the proposed clinical study
  • Centerra Gold & Headwater Gold (HWAUF) sign $25 Million earn-in agreement to explore the Crane Creek Gold Project in Idaho
  • Champion Homes (SKY) names Dave McKinstray as CFO, effective Jan 12; he will replace Laurie Hough, who will be retiring
  • CrowdStrike (CRWD) and Kroll announce a multi-year strategic partnership to elevate managed detection and response services and accelerate customers' cyber resilience worldwide
  • Cushman & Wakefield (CWK) announces that its Global Occupier Services team has secured an off-market contract extension with BHP, one of the world’s leading resources companies
  • Daiichi Sankyo (DSNKY) confirms Federal Circuit Court of Appeals vacates infringement judgment and damages award in dispute between Daiichi Sankyo and Seagen (PFE unit)
  • Datadog (DDOG) announces expanded collaboration agreement, highlights new capabilities with AWS (AMZN) Across AI, observability and security at AWS re:Invent
  • Eastman Kodak (KODK) completes the reversion process for the $1.023 billion in excess pension assets held in the company-funded Kodak Retirement Income Plan, the final step in the previously disclosed KRIP transition
  • Eli Lilly (LLY) confirms that the FDA has granted approval to Jaypirca (pirtobrutinib, 100 mg & 50 mg tablets) for the treatment of adults with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) who have previously been treated with a covalent Bruton tyrosine kinase inhibitor
  • Eni S.p.A.'s (E) Plenitude signs agreement with ACEA for the acquisition of ACEA Energia
  • Ericsson (ERIC) partners with LotusFlare to advance network API monetization
  • Fortuna Silver Mines (FSM) advances Séguéla growth with plant expansion study in Côte d’Ivoire
  • Forward Industries (FWDI) announcesa shareholder update with key operational highlights following the launch of its digital asset treasury strategy in September 2025; co has over 6.9 million SOL holdings
  • Forward Industries (FWDI) partners with Sanctum to launch fwdSOL liquid staking token
  • GE HealthCare (GEHC) and Mayo Clinic unveil GEMINI-RT: A bold research collaboration in radiation therapy and advanced cancer care
  • GitLab (GTLB) appoints Jessica Ross as CFO, effective January 15, 2026
  • Greenwich LifeSciences (GLSI) provides global update on FLAMINGO-01, screening over 1,000 patients to date
  • Hewlett Packard Enterprise (HPE) shapes future of hybrid cloud with innovations across virtualization, security and AI
  • Hilton (HLT) and Crow Holdings announce $100 million renovation and long-term management agreement for iconic Hilton Anatole in Dallas
  • IDT Corp (IDT) confirms Delaware Supreme Court affirms Court of Chancery’s dismissal of claims against IDT related to Straight Path Communications sale to Verizon (VZ)
  • Infineon (IFNNY): U.S. International Trade Commission rules in favor of Infineon in one patent infringement case against Innoscience
  • Instacart (CART) files lawsuit against NYC over minimum wage and tipping laws, according to Bloomberg
  • Johnson Controls (JCI) and Nopetro Energy announce a $50 mln investment to design, finance, build and operate a landfill gas to renewable natural gas production facility in Manatee Country
  • KKR (KKR) announces new partners and managing directors
  • Lockheed Martin (LMT) opens 17,000-square-foot system integration lab for hypersonic capabilities
  • Logitech Int'l SA (LOGI) CEO Hanneke Faber says company has finished with price increases for now, according to Bloomberg
  • Marsh McLennan (MMC): New report from Oliver Wyman and Association of Equipment Manufacturers finds rising uncertainty is reshaping equipment manufacturing
  • Micron (MU) announces its decision to exit the Crucial consumer business, including the sale of Crucial consumer-branded products at key retailers, e-tailers and distributors worldwide
  • NIKE (NKE) establishes role of EVP, Chief Operating Officer; Names Venkatesh Alagirisamy, currently serving as Chief Supply Chain Officer, to this role, effective December 8
  • OneStream (OS) announces CFO transition plan; CFO Bill Koefoed will depart effective December 31, and John Kinzer will assume the role of interim CFO effective January 1
  • Pharvaris N.V. (PHVS) announced RAPIDe-3 pivotal data confirming the potential of deucrictibant’s differentiated profile for the on-demand treatment of HAE attacks
  • Red Cat Holdings (RCAT) promotes CFO Christian Ericson to COO and appoints Christian Morrison as CFO
  • Rivian Automotive (RIVN) is recalling certain 2022-2025 EDV vehicles over seatbelt issue
  • Robinhood Markets (HOOD): Connecticut Consumer Protection orders Robinhood, Crypto.Com, Kalshi to cease and desist conducting unlicensed online gambling
  • Salesforce (CRM) and AWS (AMZN) deepen collaboration to Launch Agentforce 360 for AWS, driving faster, safer AI success for enterprises
  • Samsung (SSNLF) will likely supply half of DRAM chips needed by Nvidia (NVDA), according to Sam Mobile
  • SEI Investments (SEIC) completes the first stage of its strategic investment in Stratos Wealth Holdings, a family of companies focused on supporting the success of financial advisors across business models and affiliation structures
  • Shoulder Innovations (SI) partners with INS to introduce robotic platform for shoulder arthroplasty
  • STAAR Surgical (STAA): Broadwood Partners working to call special meeting of STAAR surgical shareholders to remove three directors
  • Strategy Inc (MSTR) Chairman Michael Saylor in discussions with MSCI amid index exclusion threat, according to Reuters
  • Target Hospitality (TH) announces multi-year contract diversifying customer base and expanding regional presence
  • Telecom Argentina (TEO) was notified of the decision of the Federal Court No. 1 of Tucumán, which ruled not to uphold the action brought by the Asociación de Consumidores del NOA against Telecom Argentina
  • Thermo Fisher (TMO) deepens investment in Asia's biopharma ecosystem with expansion of bioprocess design centers
  • Trump Media (DJT) Reaches Amicable Settlement of Legal Dispute
  • Uber (UBER) and Avride expand autonomous ride-hailing with robotaxi launch in Dallas

• Upgrades:
  • American Eagle Outfitters (AEO) upgraded to Neutral from Underweight at JPMorgan, tgt $20
    
  • Bayer (BAYRY) upgraded to Overweight from Equal Weight at Morgan Stanley
    
  • BW LPG (BWLP) upgraded to Buy from Neutral at Clarksons
    
  • CSW Industrials (CSW) upgraded to Overweight from Neutral at JPMorgan, tgt $350
    
  • Design Therapeutics (DSGN) upgraded to Outperform from Market Perform at Leerink, tgt $14
    
  • Driven Brands (DRVN) upgraded to Outperform from Market Perform at William Blair
    
  • Equinix (EQIX) upgraded to Outperform from Market Perform at BMO Capital, tgt $900
    
  • Essential Utilities (WTRG) upgraded to Buy from Neutral at Northcoast, tgt $42
  • Garmin (GRMN) upgraded to Buy from Neutral at Longbow, tgt $250
    
  • Lyft (LYFT) upgraded to Neutral from Sell at Arete, tgt $20
    
  • Marvell (MRVL) upgraded to Buy from Hold at Summit Insights
    
  • PennantPark (PNNT) upgraded to Neutral from Sell at Compass Point, tgt $5.50
    
  • Schneider National (SNDR) upgraded to Outperform from Market Perform at Raymond James, tgt $28
    
  • Spruce Biosciences (SPRB) upgraded to Outperform from Market Perform at Leerink, tgt $160
    
  • Uber (UBER) upgraded to Buy from Neutral at Arete, tgt $125
    
  • Vertex (VRTX) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $516
• Downgrades:
  • Acadia Healthcare (ACHC) downgraded to Underperform from Neutral at BofA Securities, tgt $13
    
  • Acadia Healthcare (ACHC) downgraded to Market Perform from Outperform at Leerink, tgt $14
    
  • Applied Therapeutics (APLT) downgraded to Market Perform from Outperform at Leerink, tgt $1
    
  • Aurinia Pharmaceuticals (AUPH) downgraded to Market Perform from Outperform at Leerink, tgt $16
    
  • Biohaven (BHVN) downgraded to Neutral from Buy at H.C. Wainwright, tgt $11
    
  • BioMarin (BMRN) downgraded to Market Perform from Outperform at Leerink, tgt $60
    
  • Cognex (CGNX) downgraded to Underweight from Neutral at JPMorgan, tgt $35
    
  • InflaRx (IFRX) downgraded to Market Perform from Outperform at Leerink, tgt $2
  • Pure Storage (PSTG) downgraded to Neutral from Positive at Susquehanna, tgt $100
  • Regeneron (REGN) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $767
  • Wayfair (W) downgraded to Hold from Buy at Jefferies, tgt $9
• Others:
  • Aardvark Therapeutics (AARD) initiated with a Strong Buy at Raymond James, tgt $47
    
  • Capri Holdings (CPRI) resumed with an Overweight at Barclays, tgt $31
  • Casey's General Stores (CASY) initiated with a Neutral at UBS, tgt $600
    
  • CBL & Associates (CBL) initiated with a Buy at Ladenburg, tgt $45
    
  • City Holding (CHCO) assumed with a Neutral at Piper Sandler, tgt $125
    
  • Community Bank System (CBU) assumed with a Neutral at Piper Sandler, tgt $62
    
  • Compass Therapeutics (CMPX) initiated with an Overweight at Cantor Fitzgerald
    
  • Compass Therapeutics (CMPX) initiated with a Buy at Canaccord Genuity, tgt $10
  • Compass Therapeutics (CMPX) initiated with a Mkt Outperform at Citizens JMP, tgt $10
  • DBV Technologies (DBVT) initiated with a Buy at Guggenheim, tgt $35
    
  • D-Wave Quantum (QBTS) initiated with an Outperform at Evercore ISI, tgt $44
    
  • F.N.B. (FNB) assumed with an Overweight at Piper Sandler, tgt $19
    
  • Honeywell (HON) initiated with a Neutral at BNP Paribas Exane, tgt $195
    
  • Linde (LIN) initiated with an Outperform at CICC, tgt $510
    
  • Microbot Medical (MBOT) initiated with a Buy at Roth Capital, tgt $5.50
    
  • Meridian Bank (MRBK) assumed with an Overweight at Piper Sandler, tgt $19
    
  • Oracle (ORCL) initiated with an Overweight at Wells Fargo, tgt $280
    
  • Palatin (PTN) initiated with a Buy at Alliance Global Partners, tgt $50
    
  • Pelthos Therapeutics (PTHS) initiated with a Buy at H.C. Wainwright, tgt $60
    
  • Pitney Bowes (PBI) initiated with an Outperform at Citizens JMP, tgt $13
    
  • Roblox (RBLX) initiated with a Neutral at UBS, tgt $103
    
  • Theravance Biopharma (TBPH) initiated with an Outperform at Oppenheimer, tgt $27
    
  • Tompkins Financial (TMP) assumed with a Neutral at Piper Sandler, tgt $74
    
  • Traws Pharma (TRAW) initiated with a Buy at H.C. Wainwright, tgt $8
    
  • Univest (UVSP) assumed with a Neutral at Piper Sandler, tgt $34
    
  • Viridian Therapeutics (VRDN) initiated with an Outperform at William Blair
    
  • Wyndham Hotels (WH) initiated with a Neutral at Mizuho, tgt $71
    
  • Zymeworks (ZYME) initiated with an Outperform at Citizens JMP, tgt $32

• Econ Data (Thursday):
  • 8:30 ET: Weekly Initial Claims (Briefing.com consensus 220,000; prior 216,000), Continuing Claims (prior 1.960 mln), and October Trade Balance (Briefing.com consensus -$61.3 bln)
  • 10:30 ET: Weekly natural gas inventories (prior -11 bcf)

• Earnings:
  • Monday (Dec 1)
    • Pre-Market: None
    • After-Hours: CRDO MDB VSTS
      
    Tuesday (Dec 2)
    • Pre-Market: BNG SIG
    • After-Hours: AEO ASAN BOX CRWD GTLB MRVL OKTA PSTG
  • Wednesday (Dec 3)
    • Pre-Market: DLTR M RY CXM
      
    • After-Hours: AI DSGX FIVE GWRE HQY NCNO PVH CRM SNOW PATH
  • Thursday (Dec 4)
    • Pre-Market: BMO BF.B DOOO CM DG DCI HRL HOV KR SAIC TD WLY
    • After-Hours: AGX COO DOCU DOMO HPE RBRK IOT S TTAN SWBI SFIX ULTA ZUMZ
  • Friday (Dec 5)
    • Pre-Market: VSCO
    • After-Hours: None