After Hours Report

The stock market rallied for the third consecutive session. The Dow Jones Industrial Average jumped nearly 500 points, the S&P 500 registered a 2.0% gain, and the Nasdaq Composite gained 2.7%.

With today's move, the S&P 500 is 10.1% above its low close in April 8 (4,982.77). Short-covering and a fear of missing out on further gains contributed to the upside moves, boosted by strength in the mega cap and chipmakers spaces. 

The PHLX Semiconductor Index (SOX) surged 5.6% and the Vanguard Mega Cap Growth ETF (MGK) rose 3.1% from yesterday. It wasn't just mega caps and chipmakers, though. Many stocks benefitted from broad buying interest that was further supported by dropping market rates and positive economic data. 

The 10-yr yield settled eight basis points lower at 4.31%. The 2-yr yield settled seven basis points lower at 3.79%. Treasury yields were already lower before the market received another solid weekly initial claims number (222,000) and ahead of the $44 billion 7-yr note sale, which met soft demand.

Earnings news since yesterday's close has been a mixed bag. Chipotle Mexican Grill (CMG 49.54, +0.78, +1.6%), Southwest Airlines (LUV 26.46, +0.94, +3.7%), IBM (IBM 229.33, -16.15, -6.6%), and Merck (MRK 79.84, +1.10, +1.4%) issued some cautious-sounding guidance.

Names like Texas Instruments (TXN 162.13, +9.98, +6.6%), ServiceNow (NOW 938.57, +125.87, +15.5%), Whirlpool (WHR 78.97, +1.23, +1.6%) reported pleasing earnings and/or guidance.

• Dow Jones Industrial Average: -5.8% YTD
• S&P 500: -6.8% YTD
• S&P Midcap 400: -8.9% YTD
• Nasdaq Composite: -11.1% YTD
• Russell 2000: -12.2% YTD

Reviewing today's economic data:

• March Durable Orders 9.2% (Briefing.com consensus 1.5%); Prior 0.9%, March Durable Goods -ex transportation 0.0% (Briefing.com consensus 0.3%); Prior 0.7%
  • The key takeaway from the report is that there was a rebound in nondefense capital goods, excluding aircraft, which rose 0.1% following a 0.3% decline in February. This is indicative of a modest pickup in business spending, albeit before the reciprocal tariff upset on Liberation Day. New orders for primary metals increased 0.7% following a 1.3% increase in February.
• Weekly Initial Claims 222K (Briefing.com consensus 220K); Prior was revised to 216K from 215K, Weekly Continuing Claims 1.841 mln; Prior was revised to 1.878 mln from 1.885 mln
  • The key takeaway continues to be found in the leading indicator of initial jobless claims, which continue to run at low levels that are nowhere close to being associated with a recession.
• March Existing Home Sales 4.02 mln (Briefing.com consensus 4.20 mln); Prior was revised to 4.27 mln from 4.26 mln
  • The key takeaway from the report is that existing home sales declined month-over-month in all regions, while the median selling price increased month-over-month in all regions, signaling the affordability constraints buyers are facing with higher prices and relatively higher mortgage rates.

Looking ahead to Friday, market participants receive the following data:

• 10:00 ET: Final April University of Michigan Consumer Sentiment (Briefing.com consensus 48.5; prior 50.8)

Overseas:

• Europe: DAX +0.5%, FTSE +0.1%, CAC +0.3%
• Asia: Nikkei +0.5%, Hang Seng -0.7%, Shanghai +0.0%

Commodities:

• Crude Oil +0.61 @ 62.81
• Nat Gas -0.09 @ 2.93
• Gold +57.80 @ 3351.10
• Silver +0.04 @ 33.55
• Copper +0.03 @ 4.87

After-Hours Spotlight:

• Alphabet (GOOG) beats by $0.80, beats on revs, Google Advertising revenue up 8.5%, Google Cloud revenue up 28.1%; Authorizes repurchase up to additional $70.0 bln of Class A and Class C shares, increases quarterly dividend by 5%... GOOG up 4.2%
• AppFolio (APPF) misses by $0.01, misses on revs; reaffirms FY25 revs guidance... APPF down 10.5%
• Boston Beer Co (SAM) reports Q1 (Mar) results, beats on revs... SAM up 2.7%
• Comfort Systems (FIX) beats by $1.04, beats on revs; increases quarterly cash dividend to $0.45/share from $0.40/share... FIX up 8.9%
• Intel (INTC) beats by $0.12, beats on revs; guides Q2 EPS below consensus, revs below consensus... INTC down 5.1%
• Skechers USA (SKX) reports EPS in-line, revs in-line; company withdraws FY25 guidance due to global trade policies... SKX down 5.9%
• T-Mobile US (TMUS) beats by $0.11, beats on revs... TMUS down 5.3%

Fair Value for Thursday, April 25:

• S&P 500: 5,513
• Nasdaq 100: 19,327
• DJIA: 40,259

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

• Earnings/Guidance (Full Earnings Calendar):
  • 1st Source Corp (SRCE) reports Q1 results, approved increased dividend of $0.38/share (prior $0.36/share)
  • Alaska Air (ALK) reports EPS in-line, revs in-line; guides Q2 EPS below consensus
  • Allegion (ALLE) beats by $0.19, beats on revs; guides FY25 EPS in-line, affirms revs in-line
  • AllianceBernstein (AB) beats by $0.02, misses on revs
  • Amedisys (AMED) beats by $0.14, reports revs in-line
  • American Airlines (AAL) beats by $0.11, reports revs in-line; guides Q2 EPS in-line
  • Ameriprise Financial (AMP) beats by $0.42, beats on revs; increases dividend by 8% and authorizes additional $4.5 bln for share repurchases
  • Apogee Enterprises (APOG) beats by $0.01, beats on revs; guides FY26 EPS below consensus, revs above consensus
  • Ardagh Metal Packaging S.A. (AMBP) beats by $0.01, beats on revs; raising full year shipments growth forecast
  • ASGN Incorporated (ASGN) misses by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs in-line
  • Balchem (BCPC) beats by $0.09, beats on revs
  • Banc of California (BANC) beats by $0.03, misses on revs; increases repurchase plan to $300 mln
  • Berkshire Hills Bancorp (BHLB) beats by $0.07, beats on revs
  • Bread Financial (BFH) beats by $0.63, beats on revs
  • Bristol-Myers (BMY) beats by $0.31, beats on revs; guides FY25 EPS in-line, revs above consensus
  • Brunswick (BC) beats by $0.34, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY25 EPS in-line, revs in-line
  • CACI Intl (CACI) beats by $0.63, beats on revs; raises FY25 EPS guidance; raises low end of FY25 revenue guidance
  • Carlisle Cos (CSL) beats by $0.19, reports revs in-line; reiterates FY25 guidance; increases repurchase target for 2025
  • Carpenter Tech (CRS) beats by $0.14, reports revs in-line
  • CBIZ (CBZ) beats by $0.18, misses on revs; guides FY25 EPS in-line, revs in-line
  • CBRE Group (CBRE) beats by $0.10, reports revs in-line
  • CenterPoint (CNP) reports EPS in-line; reaffirms FY25 EPS guidance
  • Century Communities (CCS) misses by $0.34, misses on revs; Guides for FY25 home deliveries of 10,400-11,000 homes
  • Chemed (CHE) beats by $0.08, beats on revs
  • Chipotle Mexican Grill (CMG) beats by $0.01, misses on revs; provides FY25 guidance; Q1 comps -0.4%
  • CMS Energy (CMS) beats by $0.01, beats on revs; reaffirms FY25 EPS guidance
  • CNX Resources (CNX) beats by $0.16
  • Columbia Banking (COLB) beats by $0.03, beats on revs; acquiring Pacific Premier (PPBI) in all-stock deal
  • Comcast (CMCSA) beats by $0.10, reports revs in-line
  • Community Health (CYH) beats by $0.05, beats on revs
  • Core Labs (CLB) reports EPS in-line, revs in-line
  • CVB Financial (CVBF) beats by $0.03
  • Darling Ingredients (DAR) reports Q1 (Mar) results, misses on revs
  • Discover Financial Services (DFS) beats by $0.88, net intrest income increased 2% yr/yr; On April 18, Capital One received regulatory approval to complete merger with company
  • Dover (DOV) beats by $0.07, reports revs in-line; guides FY25 EPS in-line
  • Dow (DOW) beats by $0.03, beats on revs
  • EastGroup (EGP) beats by $0.05, beats on revs; guides FY25 FFO in-line
  • Edwards Lifesciences (EW) beats by $0.04, reports revs in-line; guides Q2 EPS in-line, revs in-line; reaffirms FY25 EPS guidance, guides FY25 revs in-line
  • Element Solutions (ESI) beats by $0.01, beats on revs; Issues Q2 and FY25 adjusted EBITDA guidance
  • Eni S.p.A. (E) beats on top and bottom lines
  • Essential Properties Realty Trust (EPRT) misses by $0.03, beats on revs; reiterates FY25 adjusted FFO below consensus
  • Euronet (EEFT) beats by $0.04, reports revs in-line
  • First American Financial (FAF) beats by $0.20, beats on revs
  • First Merchants (FRME) beats by $0.09
  • FirstCash (FCFS) beats by $0.33, reports revs in-line
  • FirstEnergy (FE) beats by $0.06, beats on revs; reaffirms FY25 EPS guidance
  • FirstService (FSV) beats by $0.08, misses on revs
  • Fiserv (FI) beats by $0.07, beats on revs; reaffirms FY25 EPS guidance
  • Freeport-McMoRan (FCX) reports EPS in-line, beats on revs
  • Freeport-McMoRan (FCX) provides additional quarterly gold and copper sales guidance in slide presentation
  • FTI Consulting (FCN) beats by $0.50, reports revs in-line; Announces $400.0 mln increase in share repurchase authorization
  • Galapagos NV (GLPG) reports Q1 results; planned separation of Galapagos NV into two independently operating entities is expected by mid-2025
  • Gentherm (THRM) beats by $0.05, beats on revs; guides FY25 revs in-line
  • Goosehead Insurance (GSHD) beats by $0.04, misses on revs; guides FY25 revs in-line; authorizes share repurchases up to $100 mln
  • Graco (GGG) beats by $0.03, reports revs in-line; Maintains full-year revenue guidance of low-single digit growth on organic, constant currency basis
  • Group 1 Auto (GPI) beats by $0.39, beats on revs
  • Hasbro (HAS) beats by $0.37, beats on revs
  • Helen of Troy (HELE) misses by $0.07, reports revs in-line
  • IBM (IBM) beats by $0.18, beats on revs; guides Q2 revs above consensus; reaffirms FY25 revenue and FCF guidance
  • IMAX (IMAX) beats by $0.03, beats on revs
  • Impinj (PI) beats by $0.13, beats on revs; guides Q2 EPS above consensus, revs in-line
  • Integer Holdings (ITGR) beats by $0.08, beats on revs; guides FY25 EPS above consensus, revs in-line; Also announced that Mr. Dziedzic will retire as President and Chief Executive Officer, effective October 24, 2025
  • Interparfums (IPAR) guides Q1 revs above consensus; reaffirms FY25 EPS and revenue outlook
  • Jack In The Box (JACK) provides Q2 guidance and long-term plan update; launching strategic alternatives process for Del Taco; discontinuing dividend
  • Kaiser Alum (KALU) beats by $0.84, misses on revs; Issues FY25 guidance
  • Keurig Dr Pepper (KDP) beats by $0.04, beats on revs; reaffirms FY25 guidance
  • Knight-Swift (KNX) beats by $0.04, beats on revs; guides Q2 EPS below consensus
  • L3Harris (LHX) beats by $0.10, misses on revs, provides guidance following divestiture
  • Ladder Capital (LADR) reports EPS in-line
  • Lam Research (LRCX) beats by $0.04, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Largo Resources (LGO) reports Q1 production
  • Las Vegas Sands (LVS) beats by $0.02, reports revs in-line; Board increased stock repurchase authorization to $2.0 bln
  • LKQ (LKQ) beats by $0.01, misses on revs; guides FY25 EPS in-line
  • MarineMax (HZO) beats by $0.08, beats on revs; lowers FY25 EPS guidance
  • Matador Resources (MTDR) beats by $0.21, beats on revs; Announces $400 mln share repurchase program
  • MaxLinear (MXL) reports EPS in-line, beats on revs; guides Q2 revs in-line
  • Merck (MRK) beats by $0.09, beats on revs; guides FY25 EPS in-line, reaffirms FY25 revs guidance
  • Meritage (MTH) reports EPS in-line, revs in-line; guides FY25 revs above consensus
  • Mobileye Global (MBLY) reports EPS in-line, revs in-line; reaffirms FY25 revs guidance
  • Moelis (MC) beats by $0.09, beats on revs
  • Molina Healthcare (MOH) beats by $0.11, beats on revs; reaffirms FY25 EPS guidance, revs guidance
  • NASDAQ (NDAQ) beats by $0.02, reports revs in-line; increases dividend by 13%
  • Nestle (NSRGY) reports Q1 trading update; organic sales rise 2.8% yr/yr; reaffirms guidance
  • Newmont Corporation (NEM) beats by $0.35
  • Nokia (NOK) misses by EUR0.01; beats on revs; reaffirms outlook
  • Oceaneering Intl (OII) beats by $0.13, beats on revs
  • Old Republic (ORI) beats by $0.07, beats on revs
  • O'Reilly Auto (ORLY) misses by $0.51, reports revs in-line, comps +3.6%; guides FY25 EPS below consensus, reaffirms FY25 revs guidance, reaffirms FY25 comp guidance
  • Pacific Premier (PPBI) beats by $0.07; being acquired by Columbia (COLB) in all-stock deal
  • Patterson-UTI (PTEN) reports Q1 (Mar) results, beats on revs
  • Penumbra (PEN) beats by $0.16, beats on revs; reaffirms FY25 revs guidance
  • PepsiCo (PEP) misses by $0.01, reports revs in-line; Reiterates FY25 organic revenue growth guidance, lowers core constant currency EPS guidance
  • PG&E (PCG) misses by $0.03, misses on revs; reaffirms FY25 EPS guidance
  • PG&E (PCG) in slide presentation sees FY26-28 non-core EPS growth of 6-8%
  • Plexus (PLXS) beats by $0.12, reports revs in-line; guides Q3 EPS in-line, revs in-line
  • PROCEPT BioRobotics (PRCT) beats by $0.04, beats on revs; raises FY25 revs above consensus
  • Procter & Gamble (PG) beats by $0.02, misses on revs; guides FY25 EPS below consensus, revs below consensus
  • QuantumScape (QS) reports EPS in-line
  • Raymond James (RJF) misses by $0.03, reports revs in-line
  • Reliance, Inc. (RS) beats by $0.13, beats on revs; guides Q2 EPS in-line
  • RenaissanceRe (RNR) misses by $0.32, beats on revs
  • ResMed (RMD) misses by $0.01, reports revs in-line
  • Rezolve AI Limited (RZLV) reports 2024 highlights with guidance
  • RLI Corp (RLI) beats by $0.08, misses on revs
  • Robert Half (RHI) misses by $0.19, misses on revs
  • Roche Hldg (RHHBY) reports Q1 sales resluts; reaffirms outlook
  • Rollins (ROL) reports EPS in-line, revs in-line
  • RPC (RES) beats by $0.01, beats on revs
  • Sanofi (SNY) beats by EUR0.96, reports revs in-line
  • SEI Investments (SEIC) beats by $0.05, reports revs in-line
  • Selective Insurance (SIGI) misses by $0.09, beats on revs
  • ServiceNow (NOW) beats by $0.21, reports revs in-line
  • Southwest Air (LUV) beats by $0.05, reports revs in-line; provides Q2 outlook
  • Stewart Info (STC) misses by $0.08, beats on revs
  • STMicroelectronics (STM) beats by $0.02, reports revs in-line; guides Q2 revs above consensus
  • Strategic Education (STRA) beats by $0.34, reports revs in-line
  • TechnipFMC (FTI) misses by $0.02, misses on revs; Raises FY25 free cash flow guidance
  • Teck Resources (TECK) beats by CAD0.23, beats on revs
  • Texas Instruments (TXN) beats by $0.16, beats on revs; guides Q2 EPS in-line, revs above consensus
  • Textron (TXT) beats by $0.14, beats on revs; reaffirms FY25 EPS guidance
  • The Shyft Group (SHYF) reports first quarter 2025 results; maintains guidance; Merger integration planning underway with Aebi Schmidt; transaction remains on track to close by mid-2025
  • Tractor Supply (TSCO) misses by $0.03, misses on revs; lowers FY25 guidance
  • TransUnion (TRU) beats by $0.07, beats on revs; guides Q2 EPS below consensus, revs in-line; reaffirms FY25 EPS guidance, raises FY25 revenue guidance
  • TRI Pointe Homes (TPH) beats by $0.21, beats on revs
  • Tyler Tech (TYL) beats by $0.23, beats on revs; raises FY25 guidance
  • Unilever PLC (UL) reports Q1 trading update; reaffirms guidance
  • Union Pacific (UNP) misses by $0.04, reports revs in-line, reaffirms 2025 outlook
  • United Bankshares (UBSI) beats by $0.06, beats on revs
  • United Rentals (URI) beats by $0.08, beats on revs; reaffirms FY25 revs guidance; authorizes $1.5 bln for repurchases
  • Vail Resorts (MTN) reports North American ski season metrics for season-to-date period ended April 20, 2025; expects resort reported EBITDA for fiscal 2025 to be in the lower half of the guidance range
  • Valero Energy (VLO) beats by $0.48, beats on revs
  • Viking Therapeutics (VIK) misses by $0.08, no revs
  • Waste Connections (WCN) beats by $0.05, reports revs in-line
  • Webster Financial (WBS) reports Q1 (Mar) results, revs in-line
  • Western Union (WU) reports EPS in-line, misses on revs; reaffirms FY25 EPS guidance, revs guidance
  • West Pharm (WST) beats by $0.22, beats on revs; guides FY25 EPS above consensus, revs above consensus
  • Whirlpool (WHR) reports EPS in-line, misses on revs; reaffirms FY25 EPS guidance, revs guidance
  • Willis Towers Watson (WTW) misses by $0.08, misses on revs
  • WNS (WNS) beats by $0.04, reports revs in-line; guides FY26 EPS in-line, revs in-line
  • Xcel Energy (XEL) misses by $0.08, reports revs in-line; reaffirms FY25 EPS guidance
• General News
  • President Trump planning to exempting car parts from China tariffs, but will leave 25% tariffs on autos in place; automakers will also be exempt from steel and aluminum tariffs, according to Financial Times
  • China says U.S. should revoke unilateral tariffs and says no talks are occurring between US and China, according to Bloomberg
  • Vice President JD Vance says Ukraine should accept peace proposal including a freeze of territorial lines or U.S. will "walk away", according to the New York Times
  • President Trump says he might call Fed Chairman Jerome Powell to explain why he should lower rates, according to Axios
  • President Trump rejects idea to increase taxes on people making $1 million or more, according to the Wall Street Journal
  • Liberal party has lead ahead of Canadian elections on Monday, according to Bloomberg
  • 12 states file lawsuit to stop tariffs, according to the New York Times
  • President Trump wants Congress to pass cannabis safe banking act, according to The Marijuana Herald (will require simple majority in House and 60 Senate votes)
  • Japan mulling purchase of additional US soybeans as part of trade deal, according to Nikkei
  • Chinese Ministry of Commerce says US and China "maintain working level communications", but deny that two sides are having ongoing negotiations over tariffs or trade - CNBC
  • President Trump said U.S. met with China this morning, but no specificity from president on who attended the meeting -- CNBC
  • President Trump will sign executive order today to increase deep sea mining, according to Reuters
  • Senator Rand Paul's resolution to end President Trump's tariffs will be brought up for a vote next week, but it has no chance of passing into law, according to WSJ
  • US wants Japan and South Korea to commit to $44 bln Alaska LNG project, according to NY Times
  • Alibaba (BABA) and Tencent (TCEHY) stockpiling Nvidia (NVDA) chips, according to Nikkei
  • Allison Transmission (ALSN) selected by all three OEMs in India’s FICV program, positioning for major multi-decade defense opportunity
  • ANSYS (ANSS) strengthens collaboration with TSMC (TSM) on advanced node processes certification and 3D-IC multiphysics design solution
  • Archer Aviation (ACHR): The General Civil Aviation Agency has approved the design for the planned transformation of an Abu Dhabi Cruise Terminal helipad into a hybrid heliport for both helicopter and eVTOL aircraft operations
  • Aurinia Pharma (AUPH): MKT Capital Ltd. and Lucien Selce issue letter to shareholders
  • Avery Dennison (AVY) increases quarterly cash dividend 7% $0.94/share from $0.88/share
  • BigBear.ai (BBAI) will deploy its AI/ML-powered heavy manufacturing planning and production platform for Austal USA, one of the largest shipbuilders in the United States, and a module supplier for U.S. Navy submarines
  • Boeing (BA): President Trump says Boeing should "default China" for not taking planes; repeats long standing criticism of China, Canada, and Mexico for fentanyl problem
  • Boeing (BA): Air India interested in taking 10 Boeing jets that China rejected, according to Reuters
  • Boston Scientific (BSX): Second phase of ADVANTAGE AF study of FARAPULSE Pulsed Field Ablation System meets primary safety and efficacy endpoints
  • Candel Therapeutics (CADL) announces oral presentation of positive Phase 3 CAN-2409 results in localized prostate cancer at ASCO 2025
  • Cardiff Oncology (CRDF) announces that the United States Patent and Trademark Office has issued to Cardiff Oncology U.S. patent No. 12,263,173 with an expected expiration date of no earlier than 2043
  • Centene (CNC): A collaboration between Health Net, Dignity Health and Vivant Health has avoided unnecessary hospital days and significantly increased the number of crucial follow-up appointments, leading to a substantial enhancement in care coordination for Health Net's higher-risk Medi-Cal members
  • Churchill Downs (CHDN) beats by $0.03, reports revs in-line
  • CME Group (CME) to expand crypto derivatives; plans to launch XRP futures on May 19, pending regulatory review
  • Corvus Pharmaceuticals (CRVS) to present new interim data from placebo-controlled Phase 1 clinical trial of Soquelitinib for atopic dermatitis on May 8, 2025
  • Costco (COST): Lumicera Health Services announces a partnership with Costco Wholesale Corporation to expand cost-plus specialty pharmacy in the marketplace and offer a broad spectrum of specialty medications with unmatched patient support, pricing transparency, and clinical expertise
  • CSX (CSX) adds 18 rail served properties across 12 states to select site program
  • Designer Brands' (DBI) DSW Designer Shoe Warehouse has launched the largest retail partnership in North America with Imbox Protection, a leading in-store shoe protection solution
  • Duke Energy (DUK) and GE Vernova (GEV) announce significant arrangement for gas turbines and associated equipment
  • Dyne Therapeutics (DYN) receives European Medicines Agency orphan drug designation for DYNE-251 in Duchenne Muscular Dystrophy
  • Eni S.p.A. (E) and the UK Government reach financial close for the Liverpool Bay CCS project
  • Fastenal (FAST) approves a two-for-one stock split
  • GE HealthCare (GEHC) to feature latest advancements in diagnostic accuracy and patient-centered breast care at SBI 2025 Breast Cancer Imaging Symposium
  • General Motors (GM) aiming to increase production at Ohio plant, according to Reuters
  • Guess? (GES) follow up: Authentic Brands might soon bid for GES, according to Bloomberg
  • Harley-Davidson (HOG): H partners releases presentation outlining urgent need for leadership change at Harley-Davidson
  • Harrow's (HROW) subsidiary, Nordic Pharma, announces launch of authorized generic of Maxitrol (Neomycin and Polymyxin B Sulfates and Dexamethasone Ophthalmic Suspension), which treats and relieves bacterial eye infections
  • Hasbro (HAS) announces a multi-year extension to its long-running relationship with Disney Consumer Products to continue creating innovative toys and games for premier brands, Star Wars and Marvel
  • Information Services Group (III) has launched a research study examining the strengths and comparative differentiators for providers of strategy, consulting and managed IT services
  • Innate Pharma (IPHA) announces €15 mln investment by Sanofi (SNY)
  • Jazz Pharma (JAZZ) showcases transformative data at ASCO 2025, highlighting advances in small cell lung cancer, HER2+ gastroesophageal cancer and diffuse glioma
  • Keurig Dr Pepper (KDP) announces changes as part of the continued evolution of its Board of Directors
  • Kodiak Gas Services (KGS) raises dividend by 10%
  • Leidos (LDOS) and Protect AI to secure AI across U.S. Government Systems
  • Lionsgate Studios (LION) shareholders approved the Lionsgate Studios Reorganization Proposal and the Lionsgate Studios Advisory Organizational Documents Proposal at meeting yesterday
  • Lufax (LU) details recent developments relating to quarterly update; Board has approved remedial actions
  • Lyft (LYFT) will begin dispatching standard taxis to riders next month, according to Bloomberg
  • Medtronic (MDT) announces that it has submitted 510(k) applications to the U.S. Food and Drug Administration seeking clearance for an interoperable pump
  • Meta Platforms (META) to eliminate jobs at Reality Labs, according to Verge
  • MGIC Investment (MTG) announces additional $750 million share repurchase program
  • Mineralys Therapeutics (MLYS) Announces Publication of Pivotal Phase 2 Advance-HTN Results in the New England Journal of Medicine
  • NASDAQ (NDAQ) increases quarterly dividend 13% to $0.27/share from $0.24/share
  • NASDAQ (NDAQ) and AWS (AMZN) unlock new era of growth for global capital markets with next generation infrastructure solutions
  • National Cinemedia (NCMI) amended Services Agreement with American Multi-Cinema, Inc. and its affiliates (AMC)
  • Noah (NOAH) releases 2024 Chairwoman letter to shareholders
  • NVIDIA (NVDA) and Amazon (AMZN) believe AI data center demand is not slowing, according to CNBC
  • Oshkosh (OSK) Defense Europe B.V. together with Oshkosh Defense has been selected by the Netherlands Ministry of Defence to produce 150 Dutch Expeditionary Patrol Vehicles
  • Palvella Therapeutics (PVLA) announces an abstract highlighting the estimated diagnosed prevalence and annual incidence of lymphatic malformation cases in the U.S. was accepted for poster presentation at the Society for Investigative Dermatology Annual Meeting
  • Parsons (PSN) has been awarded a contract for Project Management Office services by the King Salman Park Foundation for King Salman Park
  • PENN Entertainment (PENN) plans for an expected $180–$200 mln project to relocate its Ameristar Casino Hotel Council Bluffs riverboat casino operations to a new, state-of-the-art land-based property to be rebranded as Hollywood Casino Council Bluff
  • Planet Labs (PL) announced a multi-year contract with EMDYN, a European-based company providing agile intelligence-led solutions and security services
  • Protalix BioTherapeutics (PLX) CFO Eyal Rubin provided six months’ notice of his resignation in order to pursue other opportunities
  • QuantumScape Corporation (QS) and Murata enter collaboration to scale ceramic film manufacturing for solid-state batteries
  • Rocket Lab USA (RKLB) selected by Kratos (KTOS) to launch first full-scale hypersonic test under $1.45B DoD MACH-TB 2.0 program
  • Roku (ROKU) unveils a powerful new device lineup and software updates designed for streamers
  • Sallie Mae (SLM): President Trump signs order reforming accreditation in higher education
  • Scotts Miracle-Gro (SMG) to focus on lawn care business after marijuana hopes did not work out, according to Barron's
  • ServiceNow (NOW) and Devoteam announce a multi-year strategic partnership to accelerate CRM modernization for businesses across Europe and Middle East
  • ServiceNow (NOW) and Vodafone Business (VOD) announce an expansive five-year strategic collaboration to launch the next era of AI-powered service management
  • ServiceNow (NOW) and Aptiv (APTV) to drive intelligent automation and operational resilience across telco, automotive, enterprise, and industrial sectors
  • Silicom Limited (SILC) has engaged in a strategic partnership with Eideticom to provide a comprehensive suite of advanced cryptographic and compression solutions
  • Southwest Air (LUV) proactively reducing capacity in the second half of 2025 to accommodate a lower demand environment and capture associated cost savings
  • Southwest Air (LUV) CEO Bob Jordan in interview says airline industry is in a recession, according to Bloomberg
  • SpringWorks Therapeutics (SWTX): Merk KG&A (MKKGY) close to $3.5 bln deal to purchase SWTX, according to WSJ
  • Starbucks (SBUX) recommends shareholders reject 'mini-tender' offer by Tutanota
  • Stellar Bank (STEL) authorizes a new share repurchase program under which the Company may repurchase up to $65 million of common stock through May 31, 2026
  • Synopsys (SNPS) extends collaboration with TSMC (TSM) to advance AI chip and 3D multi-die design with cutting-edge EDA, IP solutions
  • Tetra Tech (TTEK) announces that the City of Cape Coral, Florida, selected Tetra Tech to provide engineering design and technical services to expand its North Reverse Osmosis Water Treatment Plant
  • Textron (TXT) announces its new Career & Learning Center is complete and fully operational serving prospective, current and future Textron Aviation employees
  • The Real Brokerage (REAX) announces the promotion of Ravi Jani to Chief Financial Officer, effective immediately
  • Triller Corp. (ILLR) trading lower after receiving Nasdaq notification of non-compliance as a result of failure to timely file its Annual Report on Form 10-K for the period ended December 31, 2024
  • U.S. GoldMining (USGO) commences metallurgical testwork at Whistler Gold-Copper Project, Alaska
  • Verastem (VSTM) announced the U.S. FDA has cleared the Investigational New Drug application of VS-7375, an oral KRAS G12D inhibitor for clinical evaluation
  • Vir Biotechnology (VIR) announces the Company will present data from a 24-week subgroup analysis of its ongoing Phase 2 SOLSTICE trial in chronic hepatitis delta at the upcoming European Association for the Study of the Liver Congress 2025 in Amsterdam
  • West Pharm (WST) announces executive leadership changes as part of its succession planning process
  • Westamerica Banc (WABC) increases quarterly cash dividend to $0.46/share from $0.44/share
  • WEX (WEX) announces a 10-year extension of its relationship with global fleet solutions provider, Enterprise Fleet Management, an affiliate of Enterprise Mobility

• Upgrades:
  • Adidas (ADDYY) upgraded to Buy from Neutral at BofA Securities
  • Cadence Design (CDNS) upgraded to Overweight from Neutral at JPMorgan, tgt $325
  • Edwards Lifesciences (EW) upgraded to Overweight from Neutral at Piper Sandler, tgt $80
  • Evotec (EVO) upgraded to Hold from Sell at Deutsche Bank
  • GE Aerospace (GE) upgraded to Buy from Neutral at Presidents Capital Management, tgt $220
  • Healthcare Services (HCSG) upgraded to Buy from Neutral at UBS, tgt $15
  • Huntington Bancshares (HBAN) upgraded to Buy from Hold at Deutsche Bank, tgt $17.50
  • Lennox Int'l (LII) upgraded to Outperform from Perform at Oppenheimer; tgt $600
  • M&T Bank (MTB) upgraded to Buy from Hold at Deutsche Bank, tgt $210
  • Renasant (RNST) upgraded to Strong Buy from Outperform at Raymond James, tgt $40
  • ServiceNow (NOW) upgraded to Buy from Neutral at Presidents Capital Management, tgt $1,000
  • Stifel Financial (SF) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $108
  • TE Connectivity (TEL) upgraded to Buy from Hold at HSBC, tgt $175
  • Utz Brands (UTZ) upgraded to Buy from Neutral at DA Davidson; tgt $16
• Downgrades:
  • Amerant Bancorp (AMTB) downgraded to Market Perform from Outperform at Raymond James
  • Avery Dennison (AVY) downgraded to Neutral from Overweight at JPMorgan, tgt $172
  • Mondelez Int'l (MDLZ) downgraded to Neutral from Buy at DA Davidson; tgt $68
  • onsemi (ON) downgraded to Neutral from Buy at B. Riley Securities; tgt $41
  • Orion S.A. (OEC) downgraded to Neutral from Overweight at JPMorgan, tgt $12
  • Texas Instruments (TXN) downgraded to Hold from Buy at Summit Insights
  • Weatherford (WFRD) downgraded to Outperform from Strong Buy at Raymond James, tgt $69
• Others:
  • A10 Networks (ATEN) initiated with a Market Perform at Raymond James
  • LG Display (LPL) resumed with a Neutral at BofA Securities
  • Magnolia Oil & Gas (MGY) initiated with a Buy at Clear Street, tgt $31

• Econ Data (Friday):
  • 10:00 ET: Final April University of Michigan Consumer Sentiment (Briefing.com consensus 48.5; prior 50.8)
• Earnings:
  • Monday (April 21)
    • Pre-Market: BOH CMA
    • After-Hours: AZZ BOKF CADE CALX CATY ELS HXL MEDP WRB WAL WTFC ZION
  • Tuesday (April 22)
    • Pre-Market: MMM DHR ELV EFX GE GPC HRI HOPE IVZ IRDM KMB LMT MCO MSCI NTRS NOC ONB PNR PHM DGX RTX SYF UCB VMI VZ
    • After-Hours: ADC BKR COF CB EWBC ENPH EQT ISRG MANH NBHC PKG CASH PEGA PFSI RRC RNST SAP STLD TSLA TRMK VBTX WFRD ZWS
  • Wednesday (April 23)
    • Pre-Market: APH T AVY BA BSX CHKP CME FHB GATX GEV GD HCSG LII LAD MHO MAS COOP EDU NEE NSC OFG ODFL OTIS PM BPOP PRG PB R SF TMHC TEL TDY TMO TNL UMC VRT VIRT WAB WSO
      
    • After-Hours: ALK ASGN BANC NTB CACI CSL CCS CHE CMG CHDN CYH CLB DFS EGP EW ESI EPRT FAF FE GSHD GGG IBM IMAX PI KALU KNX LRCX LVS MTDR MXL MTH MC MOH NEM ORLY OII PEN PTEN PLXS QS RJF RS RNR RMD RLI RHI ROL SEIC SIGI NOW STC TXN TYL URI VKTX WU WHR
  • Thursday (April 24)
    • Pre-Market: ADT ALLE AB AAL AMP APOG AMBP AUB BCPC BHLB BFH BMY BC CRS CBZ CBRE CNP CMS CNX CURB CUBI DAR DOV DOW EEFT FBP FRME FCFS FI FCX FCN THRM GPI HAS HELE ITGR IPG KDP LHX LKQ MRK MBLY NDAQ NOK NVCR ORI PPBI PEP PCG POOL PRCT PG RES SNY SAH LUV STM STRA FTI TXT TSCO TRU TPH UNP VLO VLY VC WBS WST WTW WNS XEL
    • After-Hours: GOOG APPF ASB SAM BYD COLB COUR DLR EMN EHC FHI FFBC GLPI GILD GBCI HIG DOC INTC KNSL KN MGRC MMSI MTX PECO PFG PFS RSG SLM SBCF SKX SKYW SSB SPSC SSNC TMUS VRSN WY WKC WSFS
  • Friday (April 25)
    • Pre-Market: ABBV AON AN AVTR CNC CHTR CL FLG GNTX HCA HTH LAZ LYB PSX PHIN POR RITM SAIA SXT SLB STEL TNET
    • After-Hours: None
  General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike