After Hours Report

Last Updated: 08-Jan-26 17:49 ET | Archive

After hours report provides a review of the day’s stock market and treasury market session performance with a recap of indices, sector, and industry performance, trends, as well as key news items that impacted the markets. Get a run-down of general news events, broker ratings changes, key after hours earnings reports and guidance, and highlights of events scheduled for the next day. On Fridays, the After Hours Report is a recap of the week’s stock market activity.


AXT under pressure after downside guidance; WD-40 sharply lower on earnings

The S&P 500 (flat), Nasdaq Composite (-0.5%), and DJIA (+0.6%) finished mixed today as broad gains were dampened at the index level by a sharp retreat in tech. 

Nine S&P 500 sectors captured gains, with a strong rotation into cyclical sectors once again evident in today's trade. 

The energy sector (+3.2%) captured the widest gain as oil prices surged higher today, rebounding from recent slides in response to developments in Venezuela. Crude oil futures settled today's session $1.76 higher (+3.1%) at $57.75 per barrel.

The consumer discretionary sector (+1.7%) was another top performer, with a majority of its components trading higher. This morning's batch of economic data painted a solid growth picture of the economy, sending homebuilder names surging. Solid gains across names such as Lennar (LEN 109.55, +5.62, +5.41%) and D.R. Horton (DHI 145.90, +6.59, +4.73%) sent the iShares U.S. Home Construction ETF 4.2% higher. 

The sector also benefitted from solid mega-cap leadership from Amazon (AMZN 246.29, +4.73, +1.96%) and Tesla (TSLA 435.80, +4.40, +1.02%).

With that being said, one might find it surprising that the Vanguard Mega Cap Growth ETF (-0.8%) actually faced a considerable retreat today. However, the weakness was almost entirely confined to the information technology sector (-1.5%), with NVIDIA (NVDA 185.00, -4.11, -2.17%) today's "magnificent seven" laggard. 

The PHLX Semiconductor Index (-1.8%) faced its second consecutive day of losses after a strong start to the week, with memory storage names such as Sandisk (SNDK 334.54, -19.02, -5.38%) and Western Digital (WDC 187.68, -12.20, -6.10%) among the worst performers. 

The health care sector (-0.9%) was the only other S&P 500 sector to finish with a loss, once again facing pressure in pharmaceutical and biotech names. 

Meanwhile, the consumer staples sector (+2.3%) finally saw some action after a negative start to the year.  Constellation Brands (STZ 147.98, +7.49, +5.33%) captured the widest gain after beating top-and-bottom-line expectations, while Costco (COST 915.31, +32.73, +3.71%) traded nicely higher after reporting strong December adjusted comparable sales growth of 6.2%. 

Defense names also captured solid gains in today's action, with Huntington Ingalls (HII 378.30, +21.85, +6.13%) and L3Harris (LHX 325.81, +16.05, +5.18%) among the outperformers in the industrials (+0.7%) sector. The move came after President Trump called for a 66% increase in the military budget to $1.5 trillion in 2027. 

Outside of the S&P 500, the Russell 2000 (+1.1%) and S&P Mid Cap 400 (+0.4%) returned to the winners' circle after a retreat yesterday, padding their year-to-date gains that give them an early lead over the major averages. 

All told, today's action reflected a broadening of leadership as early indicators point to a strong economy in 2026, with cyclical and small-cap stocks poised to benefit. Attention now turns to a busy Friday of economic data that includes the December Employment Situation Report, along with an expected ruling from the Supreme Court on the legality of President Trump's sweeping IEEPA tariffs.

U.S. Treasuries retreated on Thursday, giving back their midweek gains, with the 10-year note leading the way. The 2-year note yield settled up two basis points to 3.49%, and the 10-year note yield settled up five basis points to 4.18%. 

  • Russell 2000: +4.9% YTD
  • S&P Mid Cap 400: +3.8% YTD
  • DJIA: +2.5% YTD
  • S&P 500: +1.1% YTD
  • Nasdaq Composite: +1.0% YTD

Reviewing today's data:

  • Weekly Initial Claims 208K (Briefing.com consensus 217K); Prior was revised to 200K from 199K, Weekly Continuing Claims 1.914 mln; Prior was revised to 1.858 mln from 1.866 mln
    • The key takeaway from the report is that initial claims are quite low to support a view that consumer spending should hold up; however, continuing claims remain high enough to support a view that the Fed will worry enough about a softening in the labor market (i.e., weak hiring activity) such that it remains inclined to pursue easier monetary policy.
  • Q3 Productivity-Prel 4.9% (Briefing.com consensus 2.5%); Prior was revised to 4.1% from 3.3%, Q3 Unit Labor Costs-Prel -1.9% (Briefing.com consensus 0.8%); Prior was revised to -2.9% from 1.0%
    • The key takeaway from the report is that it is the golden ticket for the economy (and the Fed, per chance), as it reflects strong growth without labor cost inflation.
  • October Trade Balance -$29.4 bln (Briefing.com consensus -$61.3 bln); Prior was revised to -$48.1 bln from -$59.6 bln
    • The key takeaway from the report is that the headline deficit number is the lowest since June 2009. A residual takeaway is that the improvement clearly has something to do with the introduction of higher tariff rates that have detracted from import demand.
  • October Wholesale Inventories 0.2% (Briefing.com consensus 0.2%); Prior 0.5%
  • Consumer credit increased by $4.2 billion in November (Briefing.com consensus: $10.3 billion) following an unrevised $9.2 billion increase in October.

Overseas:

  • Europe: DAX flat, FTSE flat, CAC +0.1%
  • Asia: Nikkei -1.6%, Hang Seng -1.2%, Shanghai -0.1%

Commodities:

  • Crude Oil +1.76 @ 57.75
  • Nat Gas -0.11 @ 3.41
  • Gold -1.10 @ 4461.20
  • Silver -2.40 @ 75.25
  • Copper -0.06 @ 5.80

After-Hours Spotlight:

  • Aehr Test Systems (AEHR) beats by $0.01, misses on revs; guides 2HFY26 EPS and revs below consensus...AEHR -7.1%
  • AXT (AXTI) issues downside Q4 revenue guidance, primarily due to fewer export control permits for indium phosphide being issued by China’s Ministry of Commerce than previously expected...AXTI -28.6%
  • Frontline (FRO) announces a strategic fleet renewal initiative, involving both the acquisition of new vessels and the sale of older vessels...FRO +2.6%
  • Greenbrier (GBX) beats by $0.35, beats on revs; guides FY26 EPS in-line, revs in-line...GBX +0.1%
  • Guidewire Software (GWRE) authorizes new $500 mln share repurchase program...GWRE +0.8%
  • KalVista Pharmaceuticals (KALV) provides update on EKTERLY launch with approximately $49 mln product revenue in 2025...KALV +13.7%
  • Olin (OLN) lowers Q4 adjusted EBTIDA guidance...OLN -7.8%
  • Pacira BioSciences (PCRX) guides FY25 total revs slightly below consensus; guides for Q4 product revenue...PCRX -9.7%
  • WD-40 (WDFC) misses by $0.17, reports revs in-line; reaffirms FY26 EPS guidance, revs guidance...WDFC -8.6%

Fair Value for Friday, January 9:

  • S&P 500: 6,961
  • Nasdaq 100: 25,681
  • DJIA: 49,494
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):
    • AbbVie (ABBV) expects Q4 to be impacted by $1.3 bln in acquired IPR&D and milestones expense on a pre-tax basis
    • Aclarion (ACON) reports strong Nociscan growth, solid cash position, and outlines 2026 milestones
    • Acuity (AYI) beats by $0.10, reports revs in-line
    • Amarin (AMRN) reports positive cash flow in Q4 2025 and outlines path to sustainable profitability in 2026
    • Applied Digital (APLD) beats by $0.11, beats on revs
    • AZZ (AZZ) beats by $0.05, beats on revs; guides FY26 EPS in-line, revs in-line
    • Buckle (BKE) reports Dec comparable store net sales +5.5%; Net sales +6.5% to $215.3 mln
    • Ceragon (CRNT) expects Q4 revenue of $81 -83 million vs $84.23 mln estimate, reflecting the deferral in the final weeks of the quarter from a single large North American customer
    • Commerce.com (CMRC) reaffirmed its financial outlook for the fourth quarter and full year of fiscal 2025
    • Commercial Metals (CMC) beats by $0.27, beats on revs
    • Constellation Brands (STZ) beats by $0.43, beats on revs; guides FY26 EPS in-line
    • Costco (COST) reports December adjusted comparable sales of +6.2%
    • Endeavour Silver (EXK) produces 6,486,661 oz silver and 37,164 Oz gold, for a total of 11.2 million silver equivalent oz in 2025
    • Exxon Mobil (XOM) provides impacts to Q4 planned and seasonal factors and other items
    • Globus Medical (GMED) issues upside guidance for Q4 and FY26
    • ICON plc (ICLR) announced that, further to prior updates regarding the timing for issuance of full-year 2026 guidance, ICON confirms that it intends to issue full-year 2026 guidance alongside the release of our fourth quarter and full-year 2025 results
    • InMode (INMD) sees Q4 revs above consesnsus; sees FY26 revs below expectations
    • Invivyd (IVVD) reports Q4 2025 PEMGARDA revenue of $17.2 mln and advances pivotal COVID prophylaxis program
    • Jefferies (JEF) misses by $0.01, beats on revs
    • Lindsay Corp (LNN) beats by $0.07, misses on revs
    • Miami International Holdings (MIAX) reported December 2025 and full-year trading results for its U.S. exchange subsidiaries
    • Mobileye Global (MBLY) noted in a presentation at Mobileye Live at CES 2026 and via live webcast that the estimated revenue of the Company for the fiscal year ended December 27, 2025 was 'a bit short of $2 billion'
    • Neogen (NEOG) beats by $0.04, beats on revs; guides FY26 revs above consensus
    • Pharming Group N.V. (PHAR) to host Investor Day; sees FY25 revs above consensus
    • Phathom Pharmaceuticals (PHAT) guides Q4 revs above consensus; expects operating profitability in 2H26
    • PriceSmart (PSMT) misses by $0.06, beats on revs (two analyst estimate); also plans for tenth club in Costa Rica
    • Public Storage (PSA) reported quarterly operating update
    • RPM Inc (RPM) misses by $0.21, reports revs in-line; provides Q3 and Q4 outlook; Implementing SG&A-focused optimization actions
    • Samsung (SSNLF) provides Q4 outlook; revs of ~KRW92-94 tln
    • Shell plc (SHEL) provides mixed fourth-quarter 2025 outlook with pressure in Chemicals and seasonally weaker Marketing
    • Simply Good Foods (SMPL) beats by $0.03, reports revs in-line; guides FY26 revs in-line; Approved a $200 mln increase to existing share repurchase program
    • SmartStop Self Storage REIT (SMA) reported same store facilities (stabilized and comparable properties
    • Standard BioTools (LAB) sees Q4 revs above expectations
    • TD Synnex (SNX) beats by $0.10, beats on revs; guides Q1 EPS in-line, revs in-line
    • Teleflex (TFX) lowers FY25 revenue guidance; announced that Stuart Randle has been appointed Interim President and CEO
    • Xeris Biopharma (XERS) raises FY25 revenue guidance
  • General News
    • President Trump in an interview, says oversight of Venezuela could take years, according to NY Times
    • The White House is drafting an executive order to address affordability issues. Executive order to include action on banning large investors from acquiring single-family homes, according to Politico
    • President Trump requests $1.5 trillion defense budget for FY27 versus $1 trillion prior
    • President Trump withdraws the United States from international organizations that are contrary to the interests of the United States
    • President Trump signs an executive order to stop defense contractors from putting stock buybacks and excessive corporate distributions ahead of production capacity, innovation, and on-time delivery for America’s military
    • President Trump will support Russian sanctions bill, and the Senate is expected to vote next week. The bill will allow President Trump to impose secondary sanctions on countries that purchase Russian oil, such as China and India, according to Politico
    • Democrats are calling for a government shutdown after the Minneapolis ICE shooting, according to Axios
    • The House advances a procedural measure to extend Affordable Care Act subsidies. The House will hold the final vote today, but the bill has no chance of passing the Senate, according to Politico
    • President Trump in an interview says he has made his decision for Fed Chair, but hasn't told anyone his decision yet, according to NY Times
    • White House considering sending payments from $10K-100K to Greenlanders if they agree to secede from Denmark and join the U.S., according to Reuters
    • Treasury releases remarks by Secretary of the Treasury Scott Bessent before the Economic Club of Minnesota
    • House passes bill that funds three government departments and also includes protection of state medical cannabis laws; bill now heads to the Senate
    • Abivax SA (ABVX) announces its 2026 corporate outlook, highlighting new market insights, progress in the ABTECT-UC and ENHANCE-CD trials, and advances in its therapeutic pipeline
    • American Coastal Insurance Corporation (ACIC) successfully renewed its all other perils catastrophe excess of loss agreement
    • American Electric (AEP): Transource and BHE transmission to build nearly 200-mile 765-kV transmission line in Wisoncon
    • Americas Silver (USAS) announced significant advancements toward production at the recently acquired high grade Crescent Silver Mine in Idaho's Silver Valley
    • Amylyx Pharmaceuticals (AMLX) announces the selection of AMX0318, a long-acting glucagon-like peptide-1 receptor antagonist, as a development candidate for post-bariatric hypoglycemia and other rare diseases
    • Angi Inc. (ANGI) announces reduction of its workforce to reduce operating expenses and optimize organizational structure
    • Anglo American (NGLOY) and Teck Resources (TECK) will likely get approved by EU, according to Reuters
    • Anika Therapeutics (ANIK) announces that Stephen Griffin, current Executive Vice President, Chief Financial Officer and Chief Operating Officer, has been appointed President and Chief Executive Officer and a member of the Board of Directors, effective February 1, 2026
    • Apple's (AAPL) next CEO could be John Ternus, according to NY Times
    • Arcus (RCUS) outlines 2026 plans for Casdatifan, its potential best-in-class HIF-2a inhibitor, and its inflammation programs
    • atai Life Sciences N.V. (ATAI) provides update and outlook for 2026 Ahead of J.P. Morgan Healthcare Conference
    • Bank of America (BOA) ticking lower on report that regulator said co shared confidential information ahead of block trade, according to WSJ
    • Barclays PLC (BCS) and other banks considering $2.6 bln debt deal to support Blackstone's (BX) merger of power grid suppliers, according to Bloomberg
    • Bayer AG (BAYRY) partners with Soufflé Therapeutics to develop heart-targeted siRNA therapy for Dilated Cardiomyopathy
    • Black Hills Corp (BKH) completes Ready Wyoming 260-mile electric transmission expansion project
    • Canopy Growth (CGC) announces that the Company has entered into a series of transactions to recapitalize its balance sheet and extend the maturity dates of all outstanding indebtedness to January 2031 at the earliest
    • Chase (JPM) confirms it will become new issuer of Apple (AAPL) Card
    • Chevron (CVX) and the U.S. government are working on expanding the company’s license in Venezuela, according to Reuters
    • Climb Bio (CLYM) announces progress updates for its budoprutug and CLYM116 programs
    • Cmb.Tech NV (CMBT) has sold 8 vessels, generating a capital return of approximately $269.2 mln
    • CME Group (CME) reports international trading volume reaches record levels in 2025
    • Denison Mines (DNN) secures grid power at Phoenix, materially de-risking uranium project execution
    • DuPont (DD) trailed the broader market despite spinoffs, WSJ
    • Eli Lilly (LLY) announces positive topline results from the novel TOGETHER-PsA open-label Phase 3b trial evaluating the concomitant use of Taltz and Zepbound compared to Taltz alone in adults with active psoriatic arthritis and obesity or overweight with at least one weight-related condition
    • Enanta Pharmaceuticals (ENTA) announces updates on its research and development programs and highlighted upcoming key milestones for 2026
    • Energy Fuels (UUUU) Announces Updated Feasibility study for Toliara rare earth and HMS project in madagascar confirming world-class scale and economics, including $1.8 billion NPV and ramping up to over $500 million of expected annual EBITDA
    • Enterprise Products (EPD) increases quarterly cash distribution to $0.55/share from $0.545/share
    • Entrada Therapeutics (TRDA) reports progress across its robust development portfolio of RNA-based programs for the potential treatment of neuromuscular and ocular diseases
    • Eupraxia Pharmaceuticals (EPRX) announces positive 12-week and 36-week tissue health data from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis
    • Faraday Future Intelligent Electric (FFAI) outlines FX Super One production roadmap and enters embodied AI robotics
    • FirstEnergy (FE) announces that the Public Utilities Commission of Ohio has approved a comprehensive settlement agreement that will deliver $275 mln in restitution and refunds to Ohio Edison, The Illuminating Company and Toledo Edison customers
    • Ford (F) aiming to introduce eyes-off driving technology in 2028, according to CNBC
    • Fortuna Silver Mines (FSM) reports progress on its share buyback program
    • Fresh Del Monte (FDP) appointed Mohammed Abbas as the Company’s President and Chief Operating Officer effective January 1, 2026
    • Gilead Sciences (GILD) issues voluntary nationwide recall of one lot of Veklury (Remdesivir) for injection 100 mg/vial due to the presence of a glass particle
    • Glencore Intl plc (GLNCY) confirms discussions with Rio Tinto (RIO) plc and Rio Tinto Limited about a possible combination of some or all of their businesses, which could include an all-share merger between Rio Tinto and Glencore
    • Green Dot (GDOT) transitioned the roles in which William I Jacobs and Chris Ruppel have been serving since March 2025 from interim to permanent, effective January 6, 2026
    • Healthcare Realty (HR) announces the appointment of Daniel Gabbay as Executive Vice President and Chief Financial Officer; Also reaffirms FY25 FFO guidance
    • HNI (HNI) will exit its Wayland, New York, manufacturing facility in 2027
    • Immuneering (IMRX) Announces Exceptional 64% Overall Survival At 12 Months in First-Line Pancreatic Cancer Patients Treated with Atebimetinib + mGnP
    • Instacart (CART): NY Attorney General James demands answers from Instacart about algorithmic pricing
    • JD.com (JD) announces updates of share repurchase and cancellation
    • Keysight (KEYS) achieves live NR-NTN Connectivity in n252 S-Band, including satellite-to-satellite mobility, in collaboration with Samsung (SSNFLF)
    • Lifeway Foods (LWAY) applauds new federal dietary guidelines
    • Lockheed Martin (LMT) delivers 191 F-35s in 2025, surpassing its previous delivery record of 142 jets
    • Matthews (MATW) announces closing of sales of European packaging and tooling businesses
    • Microchip (MCHP) announced the release of custom-designed firmware for its MEC1723 Embedded Controller, specifically tailored to support
    • Nestle (NSRGY): China's State Council Food Safety Office urged Nestle (NSRGY) to properly recall the relevant batches of infant formula milk powder
    • NVIDIA (NVDA) DGX Spark personal AI supercomputers
    • NVIDIA (NVDA): China is expected to approve Nvidia H200 purchases this quarter, according to Bloomberg
    • NVIDIA (NVDA): AI neocloud Nscale in talks to raise ~$2 bln just months after last funding round, according to Bloomberg
    • Organon (OGN) secures Nordic and French rights to commercialize Nilemdo for dyslipidemia
    • Otis Worldwide (OTIS) has been selected by Transport for London (TfL) to deliver a comprehensive service and modernization program for 172 escalators across the London Underground network
    • Otter Tail Power (OTTR) increased quarterly common stock dividend 10% to $0.5775/share from $0.525/share
    • Paramount Skydance (PSKY) seeks partners as it looks to reposition MTV, according to Bloomberg
    • Paysafe (PSFE): PointsKash?Inc. has signed a new Independent Software Vendor agreement with Paysafe, the U.S.-based subsidiary of Paysafe?Ltd.
    • Permian Resources (PR) completes previously disclosed corporate reorganization, pursuant to which the management team members and certain other long-term holders exchanged Class C shares for Class A shares
    • Rio Tinto (RIO) and Glencore (GLNCY) restart discussions on potential mining megadeal, according to the Financial Times
    • Sanara MedTech (SMTI) receives innovative technology contract from Vizient for BIASURGE Advanced Surgical Solution
    • Soho House & Co (SHCO) shareholders expected to approve PE deal despite funding roadblock, according to WSJ
    • Soluna Holdings (SLNH) signed a Memorandum of Understanding with Siemens, a leading technology company in electrification, automation and digitalization
    • Telus (TU) engages TD Securities and Jefferies as financial advisors to support TELUS Health partnership and monetisation strategy
    • Toll Brothers (TOL) announces that Chairman and Chief Executive O?cer Douglas Yearley, Jr. will be transitioning to role of Executive Chairman of the Board on March 30, 2026; Company selects Karl K. Mistry, Executive Vice President to succeed Mr. Yearley
    • Toronto-Dominion Bank (TD) plans new $7 bln share buyback after completing current NCIB
    • TruBridge (TBRG) announces extension of cooperation agreement with Pinetree Capital
    • US Foods (USFD) awarded a $198 mln defense logistics agency contract
    • Vanda Pharma (VNDA) announces receipt of FDA decision letter on HETLIOZ supplemental new drug application for jet lag disorder
    • Viking Therapeutics (VKTX) completed patient enrollment in its exploratory maintenance dosing study of VK2735
    • Walmart (WMT) launches "Better Care Services" to expand affordable, one-stop digital healthcare access
  • Upgrades:
    • Airbnb (ABNB) upgraded to Neutral from Underweight at Cantor Fitzgerald, tgt $141
    • Air Products & Chemicals (APD) upgraded to Neutral from Underperform at BofA Securities, tgt $275
    • Alphabet (GOOGL) upgraded to Overweight from Neutral at Cantor Fitzgerald, tgt $370
    • Chubb (CB) upgraded to Buy from Neutral at Goldman, tgt $351
    • Coinbase Global (COIN) upgraded to Buy from Neutral at BofA Securities, tgt $340
    • Elevance Health (ELV) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $425
    • Enhabit Home Health & Hospice (EHAB) upgraded to Buy from Neutral at UBS, tgt $12
    • Figma (FIG) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $52
    • Ford Motor (F) upgraded to Overweight from Neutral at Piper Sandler, tgt $16
    • Fortrea (FTRE) upgraded to Buy from Hold at Truist, tgt $22
    • Gap (GAP) upgraded to Buy from Neutral at UBS, tgt $41
    • Generac Holdings (GNRC) upgraded to Buy from Neutral at Citigroup, tgt $207
    • General Motors (GM) upgraded to Overweight from Neutral at Piper Sandler, tgt $98
    • HF Sinclair (DINO) upgraded to Overweight from Neutral at Piper Sandler, tgt $68
    • J.B. Hunt Transport Services (JBHT) upgraded to Positive from Neutral at Susquehanna, tgt $240
    • Jack Henry (JKHY) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $220
    • Merck (MRK) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $135
    • Nurix Therapeutics (NRIX) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $36
    • Omnicell (OMCL) upgraded to Overweight from Sector Weight at KeyBanc, tgt $60
    • PBF Energy (PBF) upgraded to Overweight from Underweight at Piper Sandler, tgt $40
    • Progressive (PGR) upgraded to Overweight from Equal Weight at Barclays, tgt $265
    • Repsol (REPYY) upgraded to Buy from Hold at Jefferies
    • Roku (ROKU) upgraded to Outperform from In Line at Evercore ISI, tgt $145
    • Steven Madden (SHOO) upgraded to Buy from Hold at Needham, tgt $50
    • Stellantis (STLA) upgraded to Overweight from Neutral at Piper Sandler, tgt $15
    • Terreno Realty (TRNO) upgraded to Outperform from Neutral at Robert W. Baird, tgt $64
    • TotalEnergies (TTE) upgraded to Buy from Hold at Jefferies
    • Tyson Foods (TSN) upgraded to Outperform from Market Perform at BMO Capital, tgt $67
    • Wabtec (WAB) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $245
    • Yum! Brands (YUM) upgraded to Buy from Hold at Gordon Haskett
  • Downgrades:
    • AbbVie (ABBV) downgraded to Peer Perform from Outperform at Wolfe Research
    • Absci (ABSI) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $4.32
    • Alcoa (AA) downgraded to Underweight from Neutral at JPMorgan, tgt $50
    • AMH (AMH) downgraded to Neutral from Outperform at Mizuho, tgt $32
    • Arcus Biosciences (RCUS) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $20
    • Axsome Therapeutics (AXSM) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $204
    • Ball Corp. (BALL) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $63
    • BorgWarner (BWA) downgraded to Neutral from Overweight at Piper Sandler, tgt $51
    • Clarivate (CLVT) downgraded to Neutral from Buy at Goldman, tgt $3.60
    • Contineum Therapeutics (CTNM) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $14
    • Darden Restaurants (DRI) downgraded to Hold from Buy at Truist, tgt $207
    • Digital Realty Trust (DLR) downgraded to Neutral from Buy at BofA Securities, tgt $170
    • Euronet Worldwide (EEFT) downgraded to Underperform from Peer Perform at Wolfe Research, tgt $80
    • Exelixis (EXEL) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $48
    • ICON plc (ICLR) downgraded to Hold from Buy at Truist, tgt $222
    • Intuit (INTU) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $700
    • Invitation Homes (INVH) downgraded to Neutral from Outperform at Mizuho, tgt $27
    • IO Biotech (IOBT) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $0.36
    • J.B. Hunt Transport Services (JBHT) downgraded to Neutral from Buy at Citigroup, tgt $221
    • Leidos Holdings (LDOS) downgraded to Hold from Buy at Stifel, tgt $220
    • Logitech International (LOGI) downgraded to Neutral from Outperform at BNP Paribas Exane, tgt $106
    • Marqeta (MQ) downgraded to Peer Perform from Outperform at Wolfe Research
    • Marqeta (MQ) downgraded to Neutral from Outperform at Mizuho, tgt $4.50
    • Neurocrine Biosciences (NBIX) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $175
    • Nike (NKE) downgraded to Hold from Buy at Needham
    • PotlatchDeltic (PCH) downgraded to Market Perform from Outperform at BMO Capital, tgt $45
    • Prologis (PLD) downgraded to Neutral from Outperform at Robert W. Baird, tgt $130
    • Ryder System (R) downgraded to Peer Perform from Outperform at Wolfe Research
    • Saia (SAIA) downgraded to Peer Perform from Outperform at Wolfe Research
    • Sigma Lithium (SGML) downgraded to Underperform from Neutral at BofA Securities, tgt $13
    • Toast (TOST) downgraded to Peer Perform from Outperform at Wolfe Research
    • Tractor Supply (TSCO) downgraded to Hold from Accumulate at Gordon Haskett, tgt $50
    • Travelers (TRV) downgraded to Neutral from Buy at Goldman, tgt $304
    • Unilever (UL) downgraded to Neutral from Outperform at BNP Paribas Exane, tgt $71
    • UPS (UPS) downgraded to Peer Perform from Outperform at Wolfe Research
    • Vale (VALE) downgraded to Sector Perform from Outperform at Scotiabank, tgt $15
    • Vestis (VSTS) downgraded to Sell from Neutral at Goldman, tgt $5.30
    • XPO (XPO) downgraded to Peer Perform from Outperform at Wolfe Research
    • XPO (XPO) downgraded to Neutral from Buy at Citigroup, tgt $171
  • Others:
    • Bicara Therapeutics (BCAX) initiated with a Buy at BTIG Research, tgt $28
    • Bread Financial Holdings (BFH) initiated with a Buy at UBS, tgt $92
    • Capri Holdings (CPRI) resumed with a Neutral at Goldman, tgt $27
    • Equinor (EQNR) reinstated with a Hold at Jefferies
    • Evommune (EVMN) initiated with a Strong Buy at Raymond James, tgt $40
    • Figma (FIG) initiated with a Hold at Stifel, tgt $40
    • Intuit (INTU) initiated with a Buy at TD Cowen, tgt $802
    • Polaris Industries (PII) initiated with a Buy at Seaport Research, tgt $83
    • Reddit (RDDT) initiated with a Neutral at Cantor Fitzgerald, tgt $240
    • Rithm Capital (RITM) resumed with a Buy at UBS, tgt $16
    • Tyler Technologies (TYL) initiated with a Buy at Stifel, tgt $550
  • Econ Data (Friday):
    • 8:30 ET: December Nonfarm Payrolls (Briefing.com consensus 55,000; prior 64,000), Nonfarm Private Payrolls (Briefing.com consensus 50,000; prior 69,000), Unemployment Rate (Briefing.com consensus 4.5%; prior 4.6%), Average Hourly Earnings (Briefing.com consensus 0.3%; prior 0.1%), Average Workweek (Briefing.com consensus 34.3; prior 34.3), September Housing Starts (Briefing.com consensus 1.320 mln; prior 1.307 mln), September Building Permits (Briefing.com consensus 1.340 mln; prior 1.312 mln), October Housing Starts (Briefing.com consensus 1.340 mln), and October Building Permits (Briefing.com consensus 1.355 mln)
    • 10:00 ET: Preliminary January University of Michigan Consumer Sentiment (Briefing.com consensus 53.0; prior 52.9)
  • Earnings:
    • Monday (Jan 5)
      • Pre-Market: None
      • After-Hours: None
      Tuesday (Jan 6)
      • Pre-Market: ANGO
      • After-Hours: AIR PENG
    • Wednesday (Jan 7)
      • Pre-Market: ACI APOG CALM MSM UNF
      • After-Hours: APLD AZZ JEF PSMT STZ
    • Thursday (Jan 8)
      • Pre-Market: AYI CMC HELE LNN NEOG RPM SMPL SNX
      • After-Hours: GBX WDFC
    • Friday (Jan 9)
      • Pre-Market: None
      • After-Hours: None


Cookies are essential for making our site work. By using our site, you consent to the use of these cookies. Read our cookie policy to learn more.