After Hours Report

The stock market staged a solid rebound today, with early strength in mega-cap and technology names broadening into a wider advance. The S&P 500 (+0.4%), Nasdaq Composite (+0.7%), and DJIA (+0.5%) all finished firmly higher, even as the information technology sector (-0.1%) slipped into the red late in the session.

Several of the market's largest names captured gains that mirrored yesterday's losses, though mixed strength ultimately saw the Vanguard Mega Cap Growth ETF (+0.1%) finish with just a modest gain. The communication services (+1.7%) and consumer discretionary (+1.0%) sectors finished at the top of the standings by way of their largest components, as mega-cap weakness was largely concentrated in the information technology sector. 

Meta Platforms (META 635.95, +8.63, +1.38%) traded higher for the first day since its earnings report last Wednesday, while Alphabet (GOOG 284.75, +6.69, +2.41%) reapproached last week's record high levels. 

Tesla (TSLA 462.23, +17.97, +4.05%) was a standout among the mega-caps, reclaiming the bulk of yesterday's 5.2% slide despite reports of weak sales in Germany. 

Elsewhere in the consumer discretionary sector, McDonald's (MCD 305.67, +6.46, +2.16%) traded higher despite a Q3 earnings miss and in-line revenue, with investors focusing on stronger-than-expected same-store sales momentum in both global and U.S. markets.

The information technology sector (-0.1%) held one of the widest gains for much of the session but eventually faced some pressure late in the afternoon. Apple (AAPL 270.14, +0.10, +0.04%) and Microsoft (MSFT 507.16, -7.17, -1.39%) spent most of the day in a lackluster fashion, while NVIDIA (NVDA 195.19, -3.50, -1.76%) reversed an earlier gain of nearly 2.0%. 

Despite the late slide in NVIDIA, chipmaker names still largely outperformed today, sending the PHLX Semiconductor Index 3.0% higher.

Advanced Micro Devices (AMD 256.33, +6.28, +2.51%) traded higher after a beat-and-raise earnings report, reversing a pre-market loss that had investors worried it might follow a similar trajectory to Palantir Technologies (PLTR 187.90, -2.84, -1.49%), which moved sharply lower yesterday on valuation concerns despite a blowout earnings report. 

Micron (MU 237.50, +19.47, +8.93%) was a notable standout on reports that SK Hynix is aiming to increase HBM4 supply prices by 50%. That headline contributed to a solid gain in Seagate Tech (STX 275.77, +25.39, +10.14%) as well. 

The consumer staples (-0.3%) and real estate (-0.1%) sectors also closed with modest losses, while the utilities sector finished flat.

Seven other S&P 500 sectors captured gains as the market benefitted from relatively wide participation that saw advancers outpace decliners by a roughly 2-to-1 ratio on the NYSE and Nasdaq. The positive breadth figures were a welcome sight to a market that has seen thin leadership from its largest names drive the most recent push to record highs. Ultimately, the S&P 500 Equal Weighted Index (+0.6%) outperformed the market-weighted S&P 500 (+0.4%). 

The Russell 2000 (+1.5%) and S&P Mid Cap 400 (+0.7%) also outperformed as the market exhibited a less defensive posture today. 

While some late pressure in tech saw the major averages close with roughly half of their early gains, the broader tone remained supportive as stronger breadth pointed to a less volatile demeanor. 

Meanwhile, U.S. Treasuries retreated, lifting yields to their highest levels since early October after a quiet first two sessions of the week. The midweek affair started in flat fashion, but selling interest began building after the open as the market received generally upbeat economic data that included renewed growth in the ADP Employment Change report (42,000; prior -29,000) and expansionary readings of the S&P Global U.S. Services PMI (54.6) and the ISM Services Index (52.4%) for October.

The 2-year note yield settled up five basis points to 3.63%, and the 10-year note yield settled up seven basis points to 4.16%.

• Nasdaq Composite: +21.7% YTD
• S&P 500: +15.6% YTD
• DJIA: +11.2% YTD
• S&P Mid Cap 400: +3.8% YTD

Reviewing today's data:

• Weekly MBA Mortgage Applications Index -1.9%; Prior 7.1%
• October ADP Employment Change 42K (Briefing.com consensus 26K); Prior was revised to -29K from -32K
• October S&P Global U.S. Services PMI - Final 54.8; Prior 54.2
• October ISM Services 52.4% (Briefing.com consensus 50.9%); Prior 50.0%
  • The key takeaway from the report is that it is not a data point that falls in favor of a rate cut in December. Business activity for the nation's largest sector accelerated in October, while the prices index (which measures prices paid for materials and services by services organizations) hit its highest level in three years.

Overseas:

• Europe: DAX +0.4%, FTSE +0.6%, CAC +0.1%
• Asia: Nikkei -2.5%, Hang Seng -0.1%, Shanghai +0.2%

Commodities:

• Crude Oil -0.98 @ 59.60
• Nat Gas -0.10 @ 4.47
• Gold +32.10 @ 3993.50
• Silver +0.73 @ 48.02
• Copper +0.03 @ 4.98

After-Hours Spotlight:

• AppLovin (APP) beats by $0.07, beats on revs; guides Q4 revs above consensus; increase share repurchase program by $3.2 bln...APP +6.1%
• DoorDash (DASH) misses by $0.13, beats on revs; to boost invest in new initiatives and platform development in 2026...DASH -14.4%
• Duolingo (DUOL) beats by $5.19, beats on revs; guides Q4 revs in-line...DUOL -17.8%
• Dutch Bros (BROS) beats by $0.02, beats on revs, Systemwide same shop sales increased 5.7%; guides FY25 revs above consensus, Same shop sales growth is now expected to be approximately 5%...BROS +4.1%
• Fair Isaac (FICO) beats by $0.42, reports revs in-line; guides FY26 EPS below consensus, revs below consensus...FICO -6.6%
• Fortinet (FTNT) beats by $0.11, beats on revs; guides Q4 EPS above consensus, revs in-line...FTNT -11.3%
• IonQ (IONQ) reports Q3 (Sep) results, beats on revs; raises FY25 revs above consensus...IONQ +3.3%
• Lucid Group (LCID) misses by $0.36, misses on revs...LCID -3.1%
• Lyft (LYFT) reports Q3 (Sep) results, revs in-line, Gross Bookings up 16%; Guides Q4 Gross Bookings above consensus at midpoint of range...LYFT +2.6%
• Paycom Software (PAYC) misses by $0.01, reports revs in-line; guides FY25 revs in-line...PAYC -9.2%
• Qualcomm (QCOM) beats by $0.13, beats on revs; guides Q1 EPS in-line, revs above consensus...QCOM -3.2%
• Robinhood Markets (HOOD) beats by $0.07, beats on revs; names next CFO...HOOD -2.5%
• Snap (SNAP) beats by $0.06, beats on revs; guides Q4 revs in-line...SNAP +21.7%
• Talen Energy (TLN) beats by $1.47, beats on revs...TLN -2.6%
• TKO Group Holdings (TKO) misses by $0.12, reports revs in-line; guides FY25 revs in-line...TKO -1.6%

Fair Value for Thursday, November 6:

• S&P 500: 6,823
• Nasdaq 100: 25,741
• DJIA: 47,432

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

• Earnings/Guidance (Full Earnings Calendar):
  • Acushnet (GOLF) misses by $0.04, beats on revs; guides FY25 revs above consensus
  • Adtalem Global Education (ATGE) accelerates $150 million share repurchase program; reaffirms FY26 guidance
  • Advanced Energy (AEIS) beats by $0.27, beats on revs; guides Q4 EPS in-line, revs above consensus
  • Advanced Micro Devices (AMD) beats by $0.03, beats on revs; guides Q4 revs above consensus
  • Aflac (AFL) beats by $0.72, beats on revs
  • Allegiant Travel (ALGT) misses by $0.32, misses on revs; guides Q4 EPS mostly above consensus; guides FY25 EPS above consensus
  • American Fincl (AFG) beats by $0.18, beats on revs; Board of Directors declares $2.00/share special dividend
  • American Intl (AIG) beats by $0.48, Net Premiums Written decreased 2%
  • Amgen (AMGN) beats by $0.62, beats on revs; guides FY25 EPS in-line, revs above consensus
  • Andersons (ANDE) beats by $0.12, misses on rev
  • Angi Inc. (ANGI) reports Q3 results, misses slightly on revs
  • Arista Networks (ANET) beats by $0.03, beats on revs; guides Q4 revs in-line
  • Ashland (ASH) misses by $0.16, reports revs in-line; guides FY26 revs in-line
  • Assurant (AIZ) beats by $1.36, beats on revs, provides FY25 outlook
  • Astera Labs (ALAB) beats by $0.10, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Astronics (ATRO) beats by $0.07, misses on revs; guides Q4 revs in-line
  • Avista (AVA) beats by $0.08, misses on revs; guides FY25 EPS above consensus
  • Axon (AXON) reports Q3 (Sep) results, revs in-line; guides FY25 revs above consensus
  • Bank of America (BAC) provides several long term targets at investor day; NII (FTE) growth: 5%-7% CAGR; Efficiency ratio: 55%-59%; EPS growth: 12%+
  • Benchmark Electronics (BHE) beats by $0.04, beats on revs; guides Q4 EPS in-line, revs in-line
  • Brinks (BCO) reports EPS in-line, revs in-line; guides Q4 EPS in-line, revs in-line
  • Bunge (BG) beats by $0.33, beats on revs; guides FY25 EPS in-line
  • Cadre Holdings (CDRE) beats by $0.01, misses on revs; guides FY25 revs in-line
  • California Resources (CRC) beats by $0.20, misses on revs; raises dividend
  • Cameco (CCJ) beats by $0.10, beats on revs
  • CAVA Group (CAVA) misses by $0.01, reports revs in-line; comp sales +1.9%; lowers FY25 comp sales guidance
  • Cencora (COR) beats by $0.05, reports revs in-line; guides FY26 EPS in-line, revs in-line; increases dividend
  • Charles River (CRL) beats by $0.09, beats on revs; guides FY25 EPS in-line, revs in-line
  • Charles Schwab's (SCHW) Schwab Asset Management will support Tesla (TSLA) CEO Elon Musk's pay package, according to Reuters
  • Choice Hotels (CHH) misses by $0.09, beats on revs; lowers FY25 EPS and U.S. RevPAR growth guidance
  • Chord Energy (CHRD) beats by $0.05, beats on revs; Provides 2025 outlook update
  • Cinemark (CNK) misses by $0.06, beats on revs
  • Cirrus Logic (CRUS) beats by $0.45, beats on revs; guides Q3 revs in-line
  • Corcept Therapeutics (CORT) beats by $0.03, misses on revs; guides FY25 revs below consensus
  • Corsair Gaming (CRSR) misses by $0.03, misses on revs; guides FY25 revs below consensus
  • Corteva (CTVA) beats by $0.28, beats on revs; raises FY25 guidance
  • Coupang (CPNG) beats by $0.01, beats on revs
  • DigitalOcean (DOCN) beats by $0.05, beats on revs; guides Q4 EPS below consensus, revs above consensus
  • Dine Brands (DIN) misses by $0.28, misses on revs; announces buyback
  • Dynatrace (DT) beats by $0.03, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY26 EPS above consensus, revs above consensus
  • Elanco Animal Health (ELAN) beats by $0.06, beats on revs; guides Q4 EPS below consensus, revs above consensus; guides FY25 EPS above consensus, revs above consensus
  • Essential Utilities (WTRG) beats by $0.05, reports revs in-line; guides FY25 EPS above consensus
  • Exelixis (EXEL) beats by $0.09, beats on revs; guides FY25 revs in-line
  • First Majestic Silver (AG) misses by $0.03, misses on revs (figures in US dollars)
  • Fiverr (FVRR) beats by $0.08, reports revs in-line; guides Q4 revs in-line
  • Flywire (FLYW) beats by $0.04, beats on revs
  • Gulfport Energy (GPOR) misses by $0.21, beats on revs
  • GXO Logistics (GXO) beats by $0.01, reports revs in-line; guides FY25 EPS in-line
  • Hinge Health (HNGE) reports Q3 (Sep) results, beats on revs; guides Q4 revs above consensus
  • Hon Hai Precision (HNHPF) reports October sales increased 11.3% yr/yr to NT$895.7 bln
  • Horace Mann (HMN) beats by $0.20, beats on revs; guides FY25 EPS above consensus
  • Humana (HUM) beats by $0.31, beats on revs; reaffirms FY25 EPS guidance
  • Innospec (IOSP) beats by $0.06, beats on revs
  • Installed Building Products (IBP) beats by $0.44, beats on revs
  • Intapp () beats by $0.05, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY26 EPS above consensus, revs above consensus
  • Intl Flavors (IFF) beats by $0.03, beats on revs; reaffirms FY25 revs guidance
  • Iron Mountain (IRM) beats by $0.02, reports revs in-line; guides Q4 FFO above consensus; Increases quarterly cash dividend by 10%
  • Jack Henry (JKHY) beats by $0.26, beats on revs; raises FY26 EPS, revs outlook
  • Jackson Financial (JXN) beats by $0.71, misses on revs
  • Jones Lang LaSalle (JLL) beats by $0.26, reports revs in-line
  • Kennametal (KMT) beats by $0.10, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY26 revs above consensus
  • Kinross Gold (KGC) beats by $0.05, beats on revs
  • Kodiak Gas Services (KGS) misses by $0.13, misses on revs; Increases FY25 discretionary cash flow guidance
  • Kornit Digital (KRNT) beats by $0.07, beats on revs; guides Q4 revs below consensus
  • Kratos Defense and Security (KTOS) beats by $0.01, beats on revs; guides Q4 revs below consensus; guides Q1 (Mar) revs below consensus
  • Kyndryl (KD) beats by $0.02, misses on revs; authorizes $400 mln increase to share repurchase program
  • Lemonade (LMND) beats by $0.19, beats on revs; guides Q4 revs above consensus
  • Limbach (LMB) reports EPS in-line, revs in-line; reaffirms FY25 revs guidance
  • Lineage (LINE) beats by $0.07, reports revs in-line; guides Q4 FFO below consensus
  • LivaNova (LIVN) beats by $0.19, beats on revs; guides FY25 EPS above consensus
  • Live Nation (LYV) reports Q3 (Sep) results, misses on revs
  • Louisiana-Pacific (LPX) misses by $0.02, reports revs in-line
  • Lumentum (LITE) beats by $0.07, beats on revs; guides Q2 EPS above consensus, revs above consensus
  • Masimo (MASI) beats by $0.12, beats on revs
  • Match Group (MTCH) misses by $0.01, reports revs in-line; guides Q4 revs below consensus
  • Matson (MATX) beats by $0.99, beats on revs
  • McDonald's (MCD) misses by $0.11, reports revs in-line; global comps +3.6%, US comps +2.4%
  • Mercury (MRCY) beats by $0.17, beats on revs; announces $200 mln repurchase
  • Mirum Pharmaceuticals (MIRM) beats by $0.19, beats on revs; raises FY25 revenue guidance
  • Montrose Environmental Group (MEG) beats by $0.32, beats on revs; guides FY25 revs in-line
  • Mosaic (MOS) beats by $0.32, misses on revs
  • MNTN, Inc. (MNTN) beats by $0.04, reports revs in-line; guides Q4 revs in-line
  • Nasdaq (NDAQ) reports October 2025 volumes
  • National Vision (EYE) reports EPS in-line, beats on revs; guides FY25 EPS in-line, revs above consensus
  • New York Times (NYT) beats by $0.06, beats on revs
  • Nippon Steel Corporation (NPSCY) reports H1 results
  • Novo Nordisk (NVO) reports nine-month results
  • O-I Glass (OI) beats by $0.06, reports revs in-line; guides FY25 EPS above consensus
  • Owens Corning (OC) misses by $0.04, reports revs in-line
  • Parsons (PSN) beats by $0.11, misses on revs; guides FY25 revs below consensus
  • Paylocity (PCTY) beats by $0.18, beats on revs; guides Q2 revs in-line; raises FY26 revs outlook
  • Performance Food Group (PFGC) misses by $0.03, beats on revs; guides Q2 revs in-line; guides FY26 revs above consensus, reaffirms adjusted EBITDA guidance
  • Pinterest (PINS) misses by $0.04, reports revs in-line; guides Q4 revs in-line
  • PPL Corp (PPL) beats by $0.02, beats on revs; guides FY25 EPS in-line
  • PTC Therapeutics (PTCT) beats by $1.33, beats on revs
  • Qualys (QLYS) beats by $0.30, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Rapid7 (RPD) beats by $0.12, reports revs in-line; guides Q4 EPS below consensus, revs below consensus
  • Radian Group (RDN) beats by $0.14, misses on revs
  • Rivian Automotive (RIVN) misses on EPS, beats on revs
  • Shutterstock (SSTK) beats by $0.40, beats on revs
  • Skyline Champion (SKY) beats by $0.21, beats on revs
  • Skyworks (SWKS) beats by $0.24, beats on revs; guides Q1 EPS above consensus, revs in-line
  • SolarEdge Technologies (SEDG) beats by $0.09, beats on revs; guides Q4 revs below consensus
  • Steven Madden (SHOO) misses by $0.01, misses on revs, says Q3 was challenging due to tariffs; guides Q4 EPS above consensus, revs above consensus
  • Suncor Energy (SU) beats by $0.66; Increases 2025 upstream production, refinery throughput, and refinery utilization guidance ranges
  • Super Micro Computer (SMCI) misses by $0.02, misses on revs; guides Q2 EPS below consensus, revs above consensus; guides FY26 revs above consensus
  • Tempus AI (TEM) beats by $0.06, beats on revs; guides FY25 revs above consensus
  • Teradata (TDC) beats by $0.18, beats on revs; guides FY25 EPS above consensus, reaffirms FY25 revs guidance
  • The Baldwin Group (BWIN) beats by $0.01, reports revs in-line
  • Toast (TOST) misses by $0.08, beats on revs; Issues Q4 guidance
  • Toyota Motor (TM) reports H1 results
  • Trex (TREX) misses by $0.06, misses on revs; guides Q4 revs below consensus; authorizes a $50 mln share repurchase program, plans to lower production in Q4
  • Turning Point Brands (TPB) beats by $0.52, beats on revs; Increases 2025 adjusted EBITDA guidance
  • Ultragenyx Pharma (RARE) misses by $0.58, misses on revs; reaffirms FY25 revs guidance
  • Unity Software (U) beats by $0.02, beats on revs; guides Q4 revs above consensus
  • Upstart (UPST) misses by $0.19, reports revs in-line; guides FY25 revs below consensus
  • Vishay (VSH) reports EPS in-line, beats on revs; guides Q4 revs in-line
  • Voya Financial (VOYA) beats by $0.18, beats on revs; increases dividend
  • Zimmer Biomet (ZBH) beats by $0.03, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
• General News
  • Democrats win governor races in New Jersey and Virginia; California passes proposition that will allow the state to convert five Republican leaning House seats to Democratic seats
  • New York City elects Democratic socialist Zohran Mamdani as mayor who promised higher corporate taxes, some rent freezes, free buses, and free childcare
  • Moderate Democrats say they had good discussions with Republicans on finding a way out of the government shutdown, according to WSJ
  • Liberal Democrats are outraged at a possible deal to end the government shutdown because it doesn't have a clear win for Democrats, according to CNN
  • The Supreme Court will hear the case on tariff authority today, according to Axios
  • President Trump signs executive order to lower China fentanyl tariffs by 10% (total all-in tariff rate now 45%, this was part of the China trade agreement last week)
  • China issues announcement from the Customs Tariff Commission of the State Council on adjusting additional tariffs on imported goods originating in the U.S; The 24% additional tariff rate on US goods will remain suspended for one year, while the 10% additional tariff rate on US goods will be retained
  • China bans foreign artificial intelligence chips from data centers with state funding, according to Reuters
  • Wall Street is concerned about competitiveness of NYC following Zohran Mamdani win, according to Reuters
  • Amazon (AMZN) files a lawsuit against Perplexity AI over its "agentic" shopping feature, according to Reuters
  • Archer Aviation (ACHR): Tokyo selects Japan Airlines–Archer consortium for eVTOL implementation program
  • AstraZeneca (AZN) has a favorable relationship with U.S., according to Bloomberg
  • Azenta (AZTA) announces a strategic partnership with the PRECEDE Foundation; Azenta will provide secure storage of study samples in its biorepository and streamline logistics, enabling PRECEDE researchers to focus on advancing diagnostics and patient survival
  • Biohaven (BHVN) receives Complete Response Letter for NDA for Spinocerebellar Ataxia
  • Diebold Nixdorf (DBD) has authorized a new share repurchase program whereby the company may repurchase up to $200 mln shares of its common stock
  • Deutsche Bank (DB) considers ways to hedge its exposure to data centers, according to FT
  • Energy Transfer (ET) and Entergy Louisiana announce the signing of a 20-year natural gas firm transportation agreement to deliver reliable, affordable energy to customers and support new economic development in North Louisiana
  • Evotec SE (EVO) signs agreement with Sandoz (SDZNY) resulting in payments potentially over $650 mln plus royalties
  • Frontdoor (FTDR) announces that its Board of Directors has appointed Jason Bailey as Senior Vice President and Chief Financial Officer
  • Granite Constr (GVA) announces its selection by the Illinois Department of Transportation for a Construction Manager/General Contractor contract for the I-290 Drainage Improvements Project in Chicago, Illinois
  • Hamilton Insurance Group, Ltd. (HG) has approved a $150 mln increase to the Company’s existing share repurchase authorization
  • HF Sinclair (DINO) entered into a Stock Purchase Agreement
  • HUTCHMED (HCM) announces enrollment completed of SAFFRON Global Phase III Trial of ORPATHYS and TAGRISSO combination for certain lung cancer patients with MET Overexpression and/or amplification after progression on TAGRISSO
  • JPMorgan Chase (JPM) facing investigations connected to President Trump's push against “debanking", according to Bloomberg
  • KORU Medical Systems (KRMD) announces a development agreement with a global pharmaceutical company
  • Lindsay Corp (LNN) has authorized a new share repurchase program of up to $150 mln of the Company’s outstanding common stock
  • Mesoblast (MESO) to meet with FDA on rexlemestrocel-L and opioid cessation
  • Nippon Steel (NPSCY) to consolidate steel and free forged product production into Sanyo Special Steel by FY2030
  • Nissan (NSANY) lowering production of Rogue vehicles in Japan, according to Reuters
  • Perrigo (PRGO) is initiating a strategic review of its infant formula business; will assess a full range of alternatives
  • Leonardo Drs (DRS) signs agreement with Australian Heavy engineering company with intent to advance global maritime defense projects
  • Lockheed Martin (LMT): Saudi Arabia request for 48 F-35 fighter jets clears Pentagon rule, according to Reuters
  • Netflix (NFLX) Board approved amendments to compensatory arrangements Executive Officers and approved amendment/restatement of severance plan, effective as of January 1, 2026
  • Sixth Street Specialty Lending (TSLX) appoints Robert Stanley as Co-Chief Executive Officer, expands its board of directors and elects Robert Stanley to the board
  • SolarEdge Technologies (SEDG) and Infineon Technologies AG (IFNNY) announce a collaboration to advance SolarEdge’s Solid-State Transformer platform for next-generation AI and hyperscale data centers
  • Spyre Therapeutics (SYRE) announces positive interim phase 1 Results for SPY003, its novel, half-life extended anti-IL-23 antibody
  • UPS (UPS) issues statement on aircraft accident
  • Volkswagen (VWAGY) developing its own artificial intelligence chip, according to FT
  • Wyndham Hotels & Resorts (WH) announces that Michele Allen will be departing the Co; Kurt Albert appointed interim CFO
  • Xpeng (XPEV) to introduce robotaxis next year, according to WSJ

• Upgrades:
  • American Water (AWK) upgraded to Hold from Underperform at Jefferies, tgt $124
  • Boise Cascade (BCC) upgraded to Outperform from Market Perform at BMO Capital, tgt $100
  • Capital Southwest (CSWC) upgraded to Buy from Hold at Clear Street, tgt $22
  • Cloudflare (NET) upgraded to Hold from Sell at DZ Bank, tgt $237
  • HUYA (HUYA) upgraded to Buy from Hold at HSBC, tgt $3.50
  • Kirby (KEX) upgraded to Buy from Neutral at Citigroup, tgt $128
  • Madrigal Pharmaceuticals (MDGL) upgraded to Overweight from Neutral at Cantor Fitzgerald
  • O'Reilly Automotive (ORLY) upgraded to Outperform from Market Perform at Raymond James, tgt $105
  • Qualys (QLYS) upgraded to Neutral from Underweight at Piper Sandler, tgt $135
  • RealReal (REAL) upgraded to Overweight from Sector Weight at KeyBanc, tgt $16
  • Sarepta (SRPT) upgraded to Outperform from Neutral at Mizuho, tgt $26
  • Thomson Reuters (TRI) upgraded to Buy from Hold at Canaccord, tgt $174
  • TIM S.A. (TIMB) upgraded to Buy from Hold at HSBC, tgt $27
  • Ventyx Biosciences (VTYX) upgraded to Buy from Neutral at H.C. Wainwright, tgt $18
  • Welltower (WELL) upgraded to Outperform from In Line at Evercore ISI, tgt $208
  • Yum! Brands (YUM) upgraded to Outperform from In Line at Evercore ISI, tgt $180
• Downgrades:
  • Archer Daniels (ADM) downgraded to Underweight from Neutral at JPMorgan, tgt $59
  • Aurinia (AUPH) downgraded to Sector Perform from Outperform at RBC Capital, tgt $15
  • Energy Fuels (UUUU) downgraded to Sell from Neutral at Roth Capital, tgt $11.50
  • Fiserv (FI) downgraded to Neutral from Outperform at BNP Paribas Exane, tgt $62
  • Nintendo (NTDOY) downgraded to Underperform from Peer Perform at Wolfe Research
  • Rapid7 (RPD) downgraded to Hold from Buy at Jefferies, tgt $19
  • Rhythm Pharmaceuticals (RYTM) downgraded to Perform from Outperform at Oppenheimer
  • Southern Company (SO) downgraded to Hold from Buy at Jefferies, tgt $103
  • Trex Company (TREX) downgraded to Hold from Buy at Vertical Research, tgt $32
  • Trex Company (TREX) downgraded to Hold from Buy at Deutsche Bank, tgt $40
  • Trex Company (TREX) downgraded to Market Perform from Outperform at William Blair
  • UL Solutions (ULS) downgraded to Neutral from Overweight at JPMorgan, tgt $84
• Others:
  • Ascentage Pharma (AAPG) initiated with an Overweight at Piper Sandler, tgt $48
  • Docebo (DCBO) initiated with an Outperform at Oppenheimer, tgt $35
  • Vanda Pharmaceuticals (VNDA) initiated with a Buy at B. Riley, tgt $11

• Econ Data (Thursday):
  • 8:30 ET: Preliminary Q3 Productivity (DELAYED; Briefing.com consensus 2.5%; prior 3.3%), Unit Labor Costs (DELAYED; Briefing.com consensus 0.8%; prior 1.0%), weekly Initial Claims (DELAYED; Briefing.com consensus 229,000; prior NA), and Continuing Claims (DELAYED; prior NA)
  • 10:00 ET: September Wholesale Inventories (DELAYED; Briefing.com consensus -0.2%; prior NA)
  • 10:30 ET: Weekly natural gas inventories (prior +74 bcf)

• Earnings:
  • Monday (Nov 3)
    • Pre-Market: AMG ARES AXSM BCRX BNTX BRKR CNA FRPT FUBO HESM IDXX KTB KRYS LQDA NSSC ON MD PNW PEG VERX
    • After-Hours: ADUS ADTN AL AMRC AESI BCC BWXT CBT CSWC CLX CNO CRK CRBG CTRA DENN FANG EMN ENSG EVER EXAS FN FNV GT HALO HLIT HLIO HIMS HOLX IAC ICHR IIPR INVX NSP INSP JBTM JELD KFRC LSCC MYGN NSA NVTS NMFC OGS ORA OTTR PLTR PAY PCH PRIM QRVO O RNG RHP SANM SRPT SBAC SPG SNDX TNC UFPT UNM VVX VRTX VNOM VNO VOYG WMB XENE GTM
      
    Tuesday (Nov 4)
    • Pre-Market: AL AHCO ADM ADT FOLD HOUS APO ACLS BALL BP BRSL BR CPRI CDW CIGI DAVE DRVN ETN ECVT ERJ NPO EXC EXPD RACE FWRG FTS IT GENI GPN GPK HLNE HOG HRMY HSIC HTZ HLMN INGR IPGP KNF KYMR LGIH LTH LDOS MDGL MPC MAR MLM TAP MPLX NNN NCLH NOVT OCUL PFE PJT PTLO PINC RYTM SEE SHLS SHOP SLAB SHC SPOT SWK SXC MZTI TRI BLD TPG UBER ULS UNIT VITL WAT WING XMTR YUMC YUM ZTS
    • After-Hours: ATEN AEIS AMD AES AFL ALGT AFG AIG AMGN ANDE ANGI ANET ASH AIZ ALAB AUGO AXON BHE CDRE CRC CDNA CAVA CHRD CLNE CORT CRSR CRUS CTVA CPNG CWEN DAWN DEI EQH WTRG ES ECG EXEL FLYW GDRX GO GXO HNGE HMN IOSP INTA IFF JKHY JXN KGC KGS KTOS KD LMB LYV LTC LITE MAC MARA MASI MBC MTCH MATX MRCY MIRM MNTN MOS NMIH OI OEC OVV PARR PCTY PRDO PINS PRCT PTCT QGEN QLYS RDN RPD RVLV RIVN WTTR TSLX SKY SWKS SM SU SMCI SUPN SKT TEM TDC BWIN TOST TREX RARE UPST VCYT VOYA WES XIFR ZETA
      
  • Wednesday (Nov 5)
    • Pre-Market: ACMR GOLF ADNT ALIT ARCB ASC ARVN AVNS AVNT AVA BSY TECH BCO BG CCJ CAI COR CTRI GIB CRL CHH CNK DOCN DIN DT EMR ESTA FIS AG FVRR FTRE FTDR GPRE HUM INMD IRM JCI JLL KMT KRNT LMND LINE LIVN LPX MNKD MCD EYE NYT NWN OC PSN PAYO PFGC PRGO PAA PPL RXRX RPRX SABR SMG SRE SNBR SEDG SONO SWX SRAD SHOO SUN TBLA TEVA TRMB U WWW XPEL ZBH
      
    • After-Hours: ACHC ACAD ACVA ADPT ADMA AIN ALB ALL AOSL AMC AMCR AWR AMPL APA APP ARM ARRY ATO BGS BTG BBSI BKH OTF BMBL LEU CERT CF CHYM COHR CNMD CXW CWAN CPAY COTY CXT CRH CW CYTK DLX DVN DASH DUOL BROS ELF ELAN ECPG ET ENS ENVX EQX EE FICO FSLY FIG FTNT FWRD FRSH ULCC FSK GNK GFL LOPE GEF HL HLF HPK HST HUBS INFA NGVT IPAR IBP IONQ JAZZ JOBY KMPR KNTK KVYO LZ LNW RAMP LCID LYFT MGNI MTW MQ VAC MCK MET MIAX MKSI MUR NFG NATL NTR OTEX KAR PTRN PAYC PEB PEN PR POWI PRI PCOR PTC QTWO QCOM QDEL RYN RELY REZI RVMD RLJ HOOD ROOT RGLD RXST SBRA SAFE SDGR SDRL SEZL SBGI SITM SLDE SNAP SPT STE RGR TLN TPB TALO TTAM TKO TROX TPC USPH VECO VIR HCC WTS WK ZIP
  • Thursday (Nov 6)
    • Pre-Market: AAON ACIW WMS APD AMR ATUS AEE COLD APPN MT ASPN AZN ATHM BCE BDX ONC BLMN GOOS CNQ CARS YOU CCOI COLL CMRC COP CNR CMI QBTS DDOG XRAY LPG DCO DD SATS ENOV EPAM EVRG FA GEO GOGO GVA HAE H HIMX PODD INSW JBI KVUE KRP DNUT LAMR LNTH LFST LGND LSPD MTSI MRX MCFT MDU MLCO MFA MRNA NABL VYX NTCT NXST NOMD NVMI NVAX NRG OLPX OSCR PZZA PH PENN PLNT PLTK PBH PRMB PRVA RL ROK RXO SCSC SN FOUR SGI STGW STVN STRA SLF TPR TRP TGLS TFX TRIP UAA PRKS USFD VCEL VTRS VST WD WRBY WBD YETI
    • After-Hours: TXG AFRM ABNB AKAM ALRM LNT AHR AMN AAOI ACHR ARLO AORT AGO ASTH AVPT BBDC BILL BL XYZ BHF CPT CARG CE CENX CC CPK CIVI ED CON CRNX DRH DIOD DOCS DKNG DBX EVCM EVTC EVH EXPI EXPE EOG FNF FIGS FIVN FLO FOXF GEN G GMED GRND HRB HUN ICUI INDI INOD IREN FROG KRMN LMAT LFMD LION MTD MCHP MNST MP NTRA NHI NRDS NWSA LASR NOG SMR OMDA OS ONTO OPEN OUT PCRX PLMR PAR PTON PBA PGNY QNST QXO RXT RBA SOLV SOUN STEP RUN SG SYNA TTWO TNDM TXRH TTD TRUP OLED USAR VCTR VTEX WPM WSC WYNN XPOF YELP ZD ZYME
  • Friday (Nov 7)
    • Pre-Market: AQN AMCX AXL ANIP ATMU BIP CNH CNDT CEG DK DV DUK ENB ESNT FLR BEN GTN KKR KOP MKTX PWP FUN SHO SLVM TDS TU WEN
    • After-Hours: CLMT