After Hours Report

The stock market started the session in rebound-mode after the major indices registered sharp declines yesterday in response to the FOMC's decision and acknowledgement that committee members expect rates to stay higher for longer. Market breadth was positive and gains in the mega cap space provided an added boost to the broader market. Things deteriorated as the session progressed, though. 

Ultimately, the S&P 500 and Nasdaq Composite each settled 0.1% lower than yesterday. The deterioration was related to rising rates and rollover action in mega cap names. The 10-yr yield jumped another eight basis points today to 4.57% following a batch of economic data (initial jobless claims, third estimate for Q3 GDP, existing home sales, and leading indicators) that was better than expected.

Microsoft (MSFT 437.03, -0.36, -0.1%), Alphabet (GOOG 189.70, -0.45, -0.2%), and Meta Platforms (META 595.57, -1.62, -0.3%) were among the mega cap names that fell from initial gains as the market declined. MSFT shares were up as much as 1.3% at session highs, GOOG was up as much as 2.3%, and META was up as much as 2.4%.

Disappointing earnings results and/or guidance from Micron (MU 87.09, -16.81, -16.2%) and Lennar Corp. (LEN 138.40, -7.53, -5.2%) contributed to the negative vibe in today's session. This price action also contributed to the underperformance of stocks in their respective industries. The SPDR S&P Homebuilder ETF (XHB) traded 2.2% lower and the PHLX Semiconductor Index (SOX) showed a 1.6% decline.

Some individual stocks were able to go against the grain, settling higher. FedEx (FDX 275.88, +2.72, +1.0%), NIKE (NKE 77.10, +0.20, +0.3%), and Carnival Corp. (CCL 25.18, +0.36, +1.5%) were standouts in that respect in front of their earnings reports.

Separately, the Bank of England voted 6-to-3 to leave its benchmark rate unchanged at 4.75% and the Bank of Japan voted 8-to-1 to leave its benchmark rate unchanged at 0.25%.

• Nasdaq Composite: +29.1% YTD
• S&P 500: +23.0% YTD
• Dow Jones Industrial Average: +12.3% YTD
• S&P Midcap 400: +11.7% YTD
• Russell 2000: +9.6% YTD

Reviewing today's economic data:

• Weekly Initial Claims 220K (Briefing.com consensus 237K); Prior 242K, Weekly Continuing Claims 1.874 mln; Prior was revised to 1879 mln from 1.886 mln
  • The key takeaway from the report is the low level of initial jobless claims, which connotes a reluctance on the part of employers to layoff staff.
• Q3 GDP - Third Estimate 3.1% (Briefing.com consensus 2.8%); Prior 2.8%, Q3 GDP Deflator - Third Estimate 1.9% (Briefing.com consensus 1.9%); Prior 1.9%
  • The key takeaway from the report is that it is dated (we're less than two weeks away from the end of the fourth quarter); however, the report speaks to the enduring -- and surprising -- strength of the U.S. economy despite the Fed raising rates 12 times between March 2022 and July 2023.
• December Philadelphia Fed Index -16.4 (Briefing.com consensus 3.0); Prior -5.5
• November Existing Home Sales 4.15 mln (Briefing.com consensus 4.10 mln); Prior 3.96 mln
  • The key takeaway from the report is that it shows how lower mortgage rates can move the needle on existing home sales given the pent-up demand; however, with mortgage rates having risen noticeably again, expectations for continuing strength in existing home sales will be tempered by affordability concerns.
• November Leading Indicators 0.3% (Briefing.com consensus -0.1%); Prior -0.4%

Friday's economic lineup features:

• 8:30 ET: November Personal Income (Briefing.com consensus 0.4%: prior 0.6%), Personal Spending (Briefing.com consensus 0.5%; prior 0.4%), PCE Prices (Briefing.com consensus 0.2%; prior 0.2%), and Core PCE Prices (Briefing.com consensus 0.2%; prior 0.3%)
• 10:00 ET: Final December University of Michigan Consumer Sentiment (Briefing.com consensus 74.2; prior 74.0)

Overseas:

• Europe: DAX -1.2%, FTSE -1.1%, CAC -1.2%
• Asia: Nikkei -0.8%, Hang Seng -0.6% Shanghai -0.4%

Commodities:

• Crude Oil -0.57 @ 69.38
• Nat Gas +0.21 @ 3.59
• Gold -45.50 @ 2608.10
• Silver -1.35 @ 29.41
• Copper -0.08 @ 4.08

After-Hours Spotlight:

• FedEx (FDX) beats by $0.04, reports revs in-line; lowers FY25 EPS and revenue guidance; to pursue a full separation of FedEx Freight, creating a new publicly traded company... FDX up 7.8%
• Mission Produce (AVO) beats by $0.20 (two ests), beats on revs (two ests); provides forward-looking commentary... AVO up 7.6%
• NIKE (NKE) beats by $0.15, beats on revs, North American revenue down 8%... NKE up 5.8%
• Scholastic Corp (SCHL) misses by $0.48 (single est), misses on revs (single est); reiterates FY25 guidance... SCHL down 9.5%
• U.S. Steel (X) guides Q4 EPS below consensus; lowers Q4 adjusted EBITDA guidance... X down 4.2%

Fair Value for Friday, Dec 20:

• S&P 500: 5,940
• Nasdaq 100: 21,399
• DJIA: 42,830

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

• Earnings/Guidance (Full Earnings Calendar):
  • AGCO Corp (AGCO) issues press release confirming guidance at investor day and provides other details
  • AGCO Corp (AGCO) provides downside FY25 EPS and revenue guidance at analyst day
  • Brookdale Senior Living (BKD) improves 2025 cash flows by an expected $15+ mln through lease amendment with incremental upside in 2026 and beyond; completed 11 community portfolio acquisition
  • Cintas (CTAS) beats by $0.08, reports revs in-line; guides FY25 EPS above consensus, revs in-lin
  • Conagra (CAG) beats by $0.03, beats on revs; guides FY25 EPS below consensus due to higher than expected inflation and FX headwinds
  • Darden Restaurants (DRI) beats by $0.01, reports revs in-line, consolidated same-restaurant sales of +2.4%; guides FY25 EPS in-line, revs above consensus
  • Enerpac Tool Group (EPAC) reports EPS in-line (two ests), revs in-line (two ests); guides FY25 revs in-line (two ests)
  • FactSet (FDS) beats by $0.09, reports revs in-line; guides FY25 EPS in-line, revs in-line
  • Lamb Weston (LW) misses by $0.35, misses on revs; lowers FY25 EPS and revenue guidance; approved an increase of $250 million in the Company's existing $500 million share repurchase authorization; increases dividend by $0.01 to $0.37/share; announces appointment of Michael Smith as President and CEO
  • Lennar (LEN) misses by $0.12, misses on revs, new orders decreased 3%; Issues 1Q25 guidance, sees Gross Margin on Home Sales of 19.0-19.25%
  • Micron (MU) beats by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs below consensus
  • MillerKnoll (MLKN) beats by $0.02, beats on revs; guides FebQ EPS below consensus, revs in-line; lowers FY25 EPS guidance
  • Paychex (PAYX) beats by $0.02, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
  • Phillips Edison & Company (PECO) reaffirms FY24 FFO guidance and sees FY25 FFO guidance in line
  • Steelcase (SCS) beats by $0.08, reports revs in-line; guides Q4 EPS in-line, revs below consensus
  • Worthington Steel (WS) misses single EPS estimate, reports revs in-line
• General News
  • President-elect Trump wants streamlined continuing resolution to fund government and a debt ceiling increase, after killing the earlier funding proposal, according to Politico
  • Most Republicans don't want a government shutdown and do not believe there is time to address debt ceiling. Democrats were critical of the situation and want to stick to original legislation, according to Politico
  • Bank of England maintains rates at 4.75%
  • Bank of Japan keeps rates unchanged at 0.25%
  • President Biden wants AI centers on federal lands, according to Washington Post
  • President Biden planning more climate actions, according to Financial Times
  • Brazil's Congress weakened fiscal plan, according to Bloomberg
  • House strikes agreement on stopgap funding bill to avoid government shutdown - CNBC
  • Treasury targets facilitators for procuring sensitive navigational systems for Iran
  • Barron's out with a view on why Brazil's economy is showing strength but markets are struggling
  • 3M (MMM) and US Conec announce a strategic licensing agreement for 3M Expanded Beam Optical Interconnect technology
  • Accenture (ACN) receives a nice lift despite lowering its FY25 (Aug) EPS outlook; other highlights from Q1 (Nov) shine brighter, including continued demand for AI-related consulting
  • Aecom Tech (ACM) to support transformed mobility across Austin, Texas by delivering the city’s first light rail system
  • Afya (AFYA) entered into a share purchase agreement for the acquisition of 100% of the total share capital of Faculdade Masterclass
  • AGCO Corp (AGCO): TAFE Urges AGCO to Address Critical Questions Regarding its Strategic Priorities During 2024 Analyst Day
  • Air Products (APD) Files Investor Presentation Highlighting Successful Two-Pillar Strategy to Deliver Superior Shareholder Value
  • Alphabet (GOOG): CWA members at Google help ratify historic first contract
  • Alphabet (GOOG) aiming to add an artificial intelligence option to search, according to The Information
  • Amazon (AMZN) reaches agreement with OSHA, will withdraw all but one citation to AMZN; citation at MDW8 in Illinois holds
  • Amazon (AMZN) founder Jeff Bezos had dinner with President-elect Trump, according to the New York Post
  • Ameren Missouri (AEE) announces 500 megawatts of new solar generation, representing a total investment of approximately $950 million, are now serving customers
  • American States Water (AWR) announces proposed decision adopting settlement agreement in its electric utility general rate case
  • Ameris Bancorp (ABCB) increases quarterly cash dividend 33.3% to $0.20/share from $0.15/share
  • Amwell (AMWL) announces that CFO Mark Hirschhorn will take on an expanded role as COO, effective Jan. 1, 2025
  • Apple (AAPL) in discussions with Tencent (TCEHY) to introduce artificial intelligence features in China, according to Reuters
  • Apple (AAPL) close to getting Indonesia to remove iPhone 16 ban, according to Bloomberg
  • Apple (AAPL): EU putting pressure on Apple to open features to rivals, according to Bloomberg
  • Aramark's (ARMK) Avendra International acquires Spanish-based Quantum; financial terms were not disclosed
  • Banco Santander (SAN) entered into an agreement with Crédit Agricole S.A. (CRARY) for the sale of its 30.5% stake in CACEIS
  • Blue Owl Capital (OBDC): Wingspire Equipment Finance is proud to announce that it has successfully structured $10,000,000 in equipment financing for a global leader in agricultural manufacturing
  • Boeing (BA): China Airlines will order jets from Boeing and Airbus (EADSY), according to Reuters
  • Boeing (BA) and Pegasus Airlines confirm Türkiye's leading low-cost carrier will grow and modernize its single-aisle fleet with an order for up to 200 737 MAX airplanes
  • BW LPG Ltd (BWLP) CEO purchased 1,000 shares in BW LPG Limited at NOK 115 per share
  • C&F Financial Corporation (CFFI) authorized program to repurchase up to $5.0 million of common stock through December 31, 2025 effective January 1, 2025
  • Con Edison (ED): ICC approves amended ComEd grid plan
  • Consumer Portfolio Serv (CPSS). amends its two-year revolving credit agreement with Citibank, N.A to increase the capacity of the facility
  • Diageo plc (DEO) aiming to sell Cîroc Vodka brand, according to Bloomberg
  • Dollar Tree (DLTR) announces that its Board of Directors has appointed Interim CEO Michael C. Creedon, Jr. as permanent Chief Executive Officer
  • Exxon Mobil (XOM) Guyana and SBM Offshore completed the transaction related to the purchase of FPSO Liza Destiny, ahead of the maximum lease term, which would have expired in December 2029
  • Fennec Pharmaceuticals (FENC) announces early partial repayment of its outstanding convertible debt facility with Petrichor Healthcare Capital Management
  • FirstEnergy (FE) appoints Brian Tierney as Chair of the Board, effective Jan 1
  • Franco-Nevada (FNV) announces $500 million precious metals stream with Sibanye-Stillwater (SBSW)
  • fuboTV (FUBO) announces the launch of Hallmark+ as a standalone premium subscription service or add-on for Fubo customers
  • General Motors (GM) no longer a market leader in China, according to the New York Times
  • Grocery Outlet (GO) appoints Christopher Miller as CFO, effective January 6; succeeds Lindsay Gray, who has been serving as Interim CFO
  • HF Foods (HFFG) appointed Xi (Felix) Lin to serve as the Company’s Chief Executive Officer, effective January 1, 2025
  • Hims & Hers Health (HIMS): FDA confirms "Declaratory Order: Resolution of shortages of Tirzepatide injection products (Mounjaro and Zepbound)"
  • Hut 8 Mining (HUT) strategic bitcoin reserve surpasses $1 billion in market value with purchase of $100 million of bitcoin
  • Intel (INTC), NVIDIA (NVDA), and EQTY Lab announce the release of the Verifiable Compute AI framework
  • Intel (INTC) has a shortlist of buyout firms for new round of bidding for Altera unit, according to Bloomberg
  • Interactive Brokers (IBKR) enhances web-based trading experience for financial advisors globally
  • KBR (KBR) appointed Stuart Bradie to serve as Chair; announced that Byron Bright would be appointed to the position of Chief Operating Officer of KBR, effective May 2025
  • Kinder Morgan's (KMI) subsidiary, Tennessee Gas Pipeline, announces its decision to proceed with its Mississippi Crossing Project after securing long-term, binding transportation agreements with customers for all the capacity
  • Largo Resources' (LGO) Largo Clean Energy and Stryten Critical E-Storage establish a joint venture in Storion Energy
  • LaserSight Inc (LASE) has received a dual order from global oil refiner Phillips 66 (PSX) for a CleanTech and a MarkStar laser systems
  • Lexeo Therapeutics (LXEO) announced that Dr. Kyle Rasbach has been appointed Chief Financial Officer, effective immediately
  • Liberty Media (FWONA) Statement on European Commission decision to open phase II investigation of proposed acquisition of MotoGP
  • Lumen Technologies (LUMN) explores sale of consumer fiber business to reduce debt and shift focus to AI growth, according to Reuters
  • Manitowoc (MTW) reaches agreement to settle U.S. EPA matter regarding its emissions certification and compliance proces
  • Maravai Life Sciences (MRVI) voluntarily pre-paid, using cash on hand, $228 million of aggregate principal amount of the outstanding term loan
  • Medical Properties Trust (MPW) reaches an agreement with Viceroy Research and its members to mutually settle and dismiss the defamation lawsuit originally filed in federal court on March 30, 2023
  • Merck (MRK) announces topline results from Pivotal Phase 3 trials evaluating investigational, once-daily, oral, two-drug, single-tablet regimen of doravirine/islatravir (DOR/ISL) for the treatment of adults with virologically suppressed HIV-1 infection
  • Mesoblast (MESO): FDA approves Ryoncil (remestemcel-L-rknd), an allogeneic (donor) bone marrow-derived mesenchymal stromal cell (MSC) therapy
  • National Bank (NBHC) announces balance sheet repositioning; co sold ~ $130 million of available-for-sale investment securities on the open market
  • Nordstrom Family (JWN) and El Puerto de Liverpool nearing deal to purchase JWN, according to WWD
  • Northrop Grumman (NOC) awarded $3.46 bln U.S. Navy contract
  • Novavax (NVAX) amended advanced purchase agreement with the Commonwealth of Australia
  • Novonix Limited (NVX) announces participation in the American Graphite producers file trade case with U.S. Government Over Anticompetitive Graphite Prices on Chinese exports
  • Nurix Therapeutics (NRIX) receives U.S. FDA fast track designation for NX-5948 for the treatment of relapsed or refractory waldenstrom’s macroglobulinemia
  • Omeros’ (OMER) Narsoplimab meets its pivotal trial primary endpoint – statistical analysis shows survival superiority over external control in patients with TA-TMA
  • Palantir Technologies (PLTR) expands army vantage partnership with $618.9 mln contract
  • Parsons (PSN) awarded $20 mln U.S. Army Corps of Engineers contract
  • Penguin Solutions' (PENG) Cree LED has filed a patent infringement lawsuit in the United States District Court for the Northern District of California against ADJ Products, LLC
  • Prothena's (PRTA) partner Roche’s (RHHBY) Phase IIb study of prasinezumab missed primary endpoint, but suggests possible clinical benefit in early-stage Parkinson’s disease
  • Radian Group (RDN) amended master repurchase agreement with JPMorgan (JPM)
  • Radware (RDWR) expanded its agreement with one of Italy’s top 5 banks
  • Raymond James (RJF) reports operating data for November 2024; client assets under administration grew 21% yr/yr and 4% over the preceding month
  • Regeneron Pharma (REGN) to advance two factor XI antibodies into a broad phase 3 program following positive phase 2 proof-of-concept results
  • Revance Therapeutics (RVNC): Teoxane files amended 13D; believes that the Proposed Crown transaction undervalues the co and that the consummation of the Proposed Transaction is not in its best interests
  • Rio Tinto (RIO): Palliser Capital announces submission of resolution to Rio Tinto calling for independent review on unifying dual listing
  • Rivian Automotive (RIVN) strikes neutrality pact with UAW, easing path to unionization—once profitable, according to Bloomberg
  • Roadzen (RDZN) announces that it’s AI- powered Advanced Driver Assistance System platform, drivebuddyAI, has entered into a partnership with Bosch, a supplier of automotive components and industrial products
  • Roche Hldg's (RHHBY) Genentech’s Phase iib study of Prasinezumab missed primary endpoint, but suggests possible benefit in early-stage parkinson’s disease
  • RTX (RTX): Willis Lease (WLFC) entered into $200 mln transaction with Pratt & Whitney for the purchase of nine new PW1133G-JM aircraft engines to power the latest technology AIRBUS (EADSY) A320 Family
  • Rush Enterprises (RUSHA) and its subsidiaries that operate Peterbilt commercial vehicle dealerships entered into that certain Inventory Financing and Purchase Money Security Agreement
  • Sangamo Therapeutics (SGMO) and Astellas (ALPMY) announce capsid license agreement to deliver genomic medicines for neurological diseases
  • Sanofi's (SNY) Board of Directors announces Jean-Paul Kress as an independent director as of January 1, 2025, replacing Gilles Schnepp who has decided to leave the Board at the end of 2024
  • Savara (SVRA) Initiates Rolling Submission of a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for
  • SB Financial Group (SBFG) authorized a new share repurchase program for up to 500,000 common shares
  • Smith & Nephew (SNN) announces its CORIOGRAPH Pre-Op Planning and Modeling Services is now cleared for total hip arthroplasty by the United States Food and Drug Administration
  • Stantec (STN) filed a base shelf prospectus with each of the provincial and territorial securities regulators in Canada
  • Sysco (SYY): Over 430 drivers, warehouse workers, and mechanics represented by Teamsters Local 988 have voted overwhelmingly to authorize a strike after Sysco failed to present an acceptable contract offer
  • Sezzle (SEZL) spokesperson denies allegations in Hindenburg report, according to Reuters
  • Shell plc (SHEL): AleAnna (ANNA) announces signing of gas sale contract with Shell Energy Europe
  • Sila Realty Trust (SILA) amended 15 lease agreements
  • Silvercorp (SVM) Intercepts 34 grams per tonne gold and 4.45 percent copper over 0.82 metres at the LMW Mine, China
  • Sony (SONY) signed a strategic capital and business alliance agreement with KADOKAWA Corporation for the purpose of acquiring 12,054,100 new KADOKAWA shares
  • SS&C Techs (SSNC) approves renewal of repurchase program; the Fund may purchase up to ~ 2.1% of its outstanding common shares beginning January 21, 2025, in the open market, until January 21, 2026
  • The RealReal (REAL) announces the opening of its newest location in Houston’s Montrose Collective project
  • TPG Inc. (TPG) mulling takeover of Prosperity Life, owned by Elliott Management, according to Semafor
  • TriplePoint Venture Growth (TPVG) appoints Mike Wilhelms as CFO, effective Jan 6
  • TRI Pointe Homes (TPH) announces $250 mln stock repurchase program
  • Tuya (TUYA) entered into the Renewed Cloud Services and Technical Services Framework Agreement with Tencent Cloud
  • Union Bankshares (UNB) reauthorized a limited stock repurchase program, initially authorized in May, 2010 and reauthorized for each calendar year from 2012 through 2024
  • Vanda Pharma (VNDA) receives FDA orphan designation for treatment of polycythemia vera
  • Ventas (VTR) reaches mutually beneficial agreements with Brookdale Senior Living (BKD)
  • Vermilion Energy (VET) announces 2025 budget, 8% dividend increase, and strong Germany well test results
  • Vertex (VRTX) announces results from Phase 2 Study of suzetrigine for the treatment of painful lumbosacral radiculopathy
  • Village Bank and Trust Financial Corp. (VBFC) shareholders approved Towne Bank (TOWN) merger related plans at today's special meeting of shareholders
  • Warner Bros. Discovery (WBD) announces new leadership structure for its U.S. networks division, according to Variety
  • X Financial (XYF) announces $48.7 million share repurchase from major shareholder
  • YPF Soc. Anonima (YPF) and Shell (SHEL) sign PDA to advance Argentina’s LNG project, marking key step toward FEED stage
  • Zealand Pharma (ZEAL): FDA issues Complete Response Letter for the glepaglutide New Drug Application for the treatment of short bowel syndrome

Ratings Changes (see Upgrades/Downgrades calendar for full list):

• Upgrades:
  • Affirm (AFRM) upgraded to Buy from Hold at Jefferies; tgt raised to $82
  • Bread Financial (BFH) upgraded to Overweight from Underweight at Morgan Stanley; tgt raised to $76
  • Business First Bancshares (BFST) upgraded to Outperform from Mkt Perform at Raymond James; tgt $30
  • Cadence Bank (CADE) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $44
  • C4 Therapeutics (CCCC) upgraded to Overweight from Equal Weight at Wells Fargo; tgt raised to $12
  • Cognition Therapeutics (CGTX) upgraded to Buy from Neutral at B. Riley Securities; tgt raised to $1.50
  • DT Midstream (DTM) upgraded to Buy from Hold at Stifel; tgt raised to $106
  • Fortinet (FTNT) upgraded to Overweight from Sector Weight at KeyBanc Capital Markets; tgt $115
  • Graco (GGG) upgraded to Outperform from Neutral at Exane BNP Paribas; tgt $105
  • Hewlett Packard Enterprise (HPE) upgraded to Buy from Hold at Deutsche Bank; tgt $25
  • Hexcel (HXL) upgraded to Outperform from Sector Perform at RBC Capital Mkts; tgt raised to $74
  • KULR Technology (KULR) upgraded to Buy from Speculative Buy at The Benchmark Company; tgt raised to $5
  • LPL Financial (LPLA) upgraded to Buy from Hold at TD Cowen; tgt raised to $413
  • Mannkind (MNKD) upgraded to Outperform from Sector Perform at RBC Capital Mkts; tgt raised to $10
• Downgrades:
  • ALX Oncology (ALXO) downgraded to Hold from Buy at Jefferies; tgt lowered to $2
  • Brilliant Earth Group (BRLT) downgraded to Market Perform from Outperform at Telsey Advisory Group; tgt $2
  • C3.ai (AI) downgraded to Underweight from Sector Weight at KeyBanc Capital Markets; tgt $29
  • Cabaletta Bio (CABA) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $6
  • Commerce Bancshares (CBSH) downgraded to Mkt Perform from Outperform at Raymond James
  • European Wax Center (EWCZ) downgraded to Market Perform from Outperform at Telsey Advisory Group; tgt $6
  • General Dynamics (GD) downgraded to Sector Perform from Outperform at RBC Capital Mkts; tgt lowered to $290
  • Hilltop Holdings (HTH) downgraded to Underperform from Mkt Perform at Raymond James
  • Imperial Oil (IMO) downgraded to Underweight from Neutral at JP Morgan
  • Monte Rosa Therapeutics (GLUE) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $11
• Others:
  • Avalo Therapeutics (AVTX) initiated with a Buy at BTIG Research; tgt $40
  • Baker Hughes (BKR) initiated with an Overweight at Piper Sandler; tgt $53
  • Bruker (BRKR) initiated with a Buy at Guggenheim; tgt $72
  • Camping World (CWH) initiated with a Buy at BofA Securities; tgt $30
  • Cryoport (CYRX) initiated with a Buy at Guggenheim; tgt $11
  • Danaher (DHR) initiated with a Buy at Guggenheim; tgt $275
  • Five Star Bancorp (FSBC) initiated with an Outperform at Raymond James; tgt $38
  • Halliburton (HAL) initiated with an Overweight at Piper Sandler; tgt $36
  • HIVE Digital Technologies (HIVE) initiated with a Buy at ROTH MKM; tgt $7.50
  • Innodata (INOD) initiated with an Outperform at Wedbush; tgt $48
  • IonQ (IONQ) initiated with a Buy at DA Davidson; tgt $50
  • Lithium Americas (LAC) initiated with a Neutral at Wedbush; tgt $5
  • Mirion Technologies (MIR) initiated with an Outperform at Robert W. Baird; tgt $22
  • TechnipFMC (FTI) initiated with an Overweight at Piper Sandler; tgt $39
  • TuHURA Biosciences (HURA) initiated with a Buy at Rodman & Renshaw; tgt $11

• Econ Data (Friday):
  • 8:30 ET: November Personal Income (Briefing.com consensus 0.4%: prior 0.6%), Personal Spending (Briefing.com consensus 0.5%; prior 0.4%), PCE Prices (Briefing.com consensus 0.2%; prior 0.2%), and Core PCE Prices (Briefing.com consensus 0.2%; prior 0.3%)
  • 10:00 ET: Final December University of Michigan Consumer Sentiment (Briefing.com consensus 74.2; prior 74.0)
• Earnings:
  • Monday (Dec 16)
    • Pre-Market: None
    • After-Hours: CMP MITK
  • Tuesday (Dec 17)
    • Pre-Market: None
    • After-Hours: HEI WOR
  • Wednesday (Dec 18)
    • Pre-Market: ABM BIRK GIS JBL TTC
    • After-Hours: LEN MU MLKN SCS WS
  • Thursday (Dec 19)
    • Pre-Market: ACN KMX CTAS CAG DRI FDS LW PAYX
    • After-Hours: FDX AVO NKE
  • Friday (Dec 20)
    • Pre-Market: CCL WGO
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike