After Hours Report

Updated: 24-Feb-26 17:24 ET
HP Inc and First Solar power down following earnings

Stocks had a solid session today, with the major averages closing higher across the board amid increasingly broad participation throughout the session. The S&P 500 (+0.8%) and Nasdaq Composite (+1.0%) reclaimed the bulk of yesterday's weakness, with the S&P 500 trading above its 50-day moving average (6,895.59), but closing just under the technical level. Meanwhile, the DJIA (+0.8%) posted a similar gain, though it only amounted to just under half of yesterday's losses. 

Software stocks saw some buying interest after a particularly weak session yesterday, with the iShares GS Software ETF (+1.9%) clawing back some of its nearly 5.0% decline. While there was certainly an element of bargain hunting in today's trade, Anthropic's announcement of new partnerships in its Claude Cowork space helped quell some of the broader fears of AI disruption. FactSet (FDS 201.49, +11.23, +5.90%) was among the names listed and finished as one of the top-performing names in the financials sector (+0.5%), which had previously slid 3.3% on Monday.

Financial services companies and asset managers were among the outperformers after particular weakness yesterday, while PayPal (PYPL 47.01, +2.96, +6.73%) surged after Bloomberg reported that Stripe Inc. is interested in acquiring the company. 

Unsurprisingly, the information technology sector (+1.2%) was among today's top performers amid the bounce in software stocks. The sector was also supported by solid gains across chipmakers, sending the PHLX Semiconductor Index 1.5% higher. Advanced Micro Devices (AMD 213.84, +17.24, +8.77%) was a standout after announcing a landmark multi-year agreement to deploy up to 6 gigawatts of custom MI450/Helios AI systems with Meta Platforms (META 639.30, +2.05, +0.32%). 

Meanwhile, the consumer discretionary sector (+1.6%) also rebounded nicely from yesterday's lows, notching the widest gain today. Travel names such as Expedia Group (EXPE 198.12, +9.61, +5.10%) and Booking Holdings (BKNG 4068.56, +197.73, +5.11%) were among the top performers, while stocks that were particularly affected by President Trump's implementation of a 10% Section 122 tariff rate also finished higher, including Williams-Sonoma (WSM 209.00, +7.12, +3.53%) and NIKE (NKE 64.09, +1.00, +1.59%). 

Home Depot (HD 384.48, +7.49, +1.99%) notched a solid gain after posting an EPS beat following three consecutive misses.

The sector also benefitted from strong mega-cap leadership from Tesla (TSLA 409.38, +9.55, +2.39%) and Amazon (AMZN 208.56, +3.29, +1.60%) amid a strong day for the market's weightiest names that saw the Vanguard Mega Cap Growth ETF finish 1.1% higher. 

The industrials sector (+1.2%) notched a solid finish as well, while broadening strength throughout the session saw the defensive utilities (+1.1%) and consumer staples (+0.7%) sectors finish higher despite a weaker start. 

Meanwhile, the health care sector (-0.5%) finished with the widest loss, with particular weakness across managed care names such as Molina Healthcare (MOH 148.31, -7.90, -5.06%) and Humana (HUM 174.64, -6.52, -3.60%).

Only the energy sector (-0.1%) would also finish slightly lower as crude oil futures settled today's session $0.64 lower (-1.0%) at $65.66 per barrel.

Outside of the S&P 500, the Russell 2000 (+1.2%) and S&P Mid Cap 400 (+1.0%) outperformed as the market saw a considerable improvement in risk sentiment today. 

All told, today's session marked a solid start in reversing Monday's weakness. Though the rebound certainly was technical in some aspects, it was encouraging to see investors buy the dip across software and tech names, while a smattering of headlines around productivity software integration to the Claude Cowork model also offered some reprieve. 

Investors will have another sizable batch of earnigns reports to assess after the close while awaiting President Trump's State of the Union address this evening, which is expected to extensively feature the economy and affordability.

U.S. Treasuries had a subdued showing on Tuesday, keeping yields near their closing levels from Monday. The 2-year note yield settled up two basis points to 3.46%, and the 10-year note yield finished unchanged at 4.03%. 

  • S&P Mid Cap 400: +8.2% YTD
  • Russell 2000: +6.9% YTD
  • DJIA: +2.3% YTD
  • S&P 500: +0.7% YTD
  • Nasdaq Composite: -1.6% YTD

Reviewing today's data:

  • December FHFA Housing Price Index 0.1% (Briefing.com consensus 0.4%); Prior was revised to 0.7% from 0.6%
  • December S&P Case-Shiller Home Price Index 1.4% (Briefing.com consensus 1.4%); Prior 1.4%
  • February Consumer Confidence 91.2 (Briefing.com consensus 86.0); Prior was revised to 89.0 from 84.5
    • The key takeaway from the report is that the month-over-month improvement was driven by increased expectations, with all three components of the index—income, business, and labor market conditions—advancing from January.
  • December Wholesale Inventories 0.2% (Briefing.com consensus 0.2%); Prior 0.2%

Overseas:

  • Europe: DAX +0.1%, FTSE flat, CAC +0.3%
  • Asia: Nikkei +0.9%, Hang Seng -1.8%, Shanghai+0.9%

Commodities:

  • Crude Oil -0.64 @ 65.66
  • Nat Gas -0.07 @ 2.92
  • Gold -49.60 @ 5176.60
  • Silver +0.99 @ 87.51
  • Copper +0.15 @ 5.93

After-Hours Spotlight:

  • Alphatec (ATEC) beats by $0.02, reports revs in-line; reaffirms FY26 revs guidance...ATEC -11.9%
  • Axon (AXON) beats by $0.55, beats on revs; guides FY26 revs above consensus; provides FY28 outlook...AXON -14.9%
  • Boston Beer Co (SAM) reports Q4 (Dec) results, revs in-line; guides FY26 EPS in-line...SAM -1.1%
  • CAVA Group (CAVA) beats by $0.01, beats on revs; Q4 comps +0.5%; provides FY26 guidance...CAVA +8.8%
  • CoStar Group (CSGP) beats by $0.04, reports revs in-line; guides Q1 EPS below consensus, revs mostly below consensus; guides FY26 EPS in-line, revs in-line...CSGP -6.4%
  • First Solar (FSLR) misses by $0.30, beats on revs; guides FY26 revs below consensus...FSLR -10.6%
  • Flywire (FLYW) beats by $0.01, beats on revs...FLYW +8.9%
  • HP Inc. (HPQ) beats by $0.04, beats on revs; guides Q2 EPS in-line; reaffirms FY26 EPS guidance, but now expects to be at low end; reaffirms FY26 FCF but now expects to be at low end...HPQ -6.7%
  • Lucid Group (LCID) misses by $0.41, beats on revs...LCID -5.0%
  • MercadoLibre (MELI) misses by $0.30, beats on revs...MELI -6.1%
  • Resideo (REZI) beats by $0.03, beats on revs; guides Q1 EPS above single estimate; guides FY26 EPS above two analyst estimate, revs above two analyst estimate...REZI +9.3%
  • Slide Insurance Holdings (SLDE) beats by $0.35, misses on revs...SLDE +6.9%
  • TransMedics Group (TMDX) beats by $2.18, beats on revs; guides FY26 revs above consensus...TMDX +6.7%
  • Trex (TREX) beats by $0.06, beats on revs; guides FY26 revs in-line; Authorizes $150 mln share buyback authorization for 1H26...TREX +7.1%
  • Workday (WDAY) beats by $0.15, reports revs in-line...WDAY -8.1%
  • Zeta Global (ZETA) reports EPS in-line, beats on revs; raises FY26 revs above consensus...ZETA +3.2%

Fair Value for Wednesday, February 25:

  • S&P 500: 6,902
  • Nasdaq 100: 25,076
  • DJIA: 49,215
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):
    • ACV Auctions (ACVA) misses by $0.10, reports revs in-line; guides Q1 revs in-line; guides FY26 revs in-line
    • AdaptHealth (AHCO) misses by $1.11, beats on revs; guides FY26 revs mostly above consensus
    • Addus HomeCare (ADUS) beats by $0.05, reports revs in-line
    • Albany Intl (AIN) beats by $0.04, beats on revs; guides Q1 EPS below estimate, revs above estimate
    • Allison Transmission (ALSN) misses by $0.37, beats on revs; guides FY26 revs above consensus
    • Amer Sports (AS) beats by $0.03, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY26 EPS below consensus, revs above consensus
    • Apellis Pharmaceuticals (APLS) beats by $0.85, reports revs in-line
    • Armstrong World Industries (AWI) misses by $0.08, misses on revs; guides FY26 EPS below consensus, revs in-line
    • Arvinas (ARVN) misses by $0.54, misses on revs
    • Atlas Energy Solutions (AESI) beats by $0.05, beats on revs
    • Avanos Medical (AVNS) beats by $0.04, beats on revs; guides FY26 EPS in-line, revs in-line
    • Bank of Nova Scotia (BNS) beats by $CAD0.10, revs slightly below consensus
    • Beam Therapeutics (BEAM) beats by $3.34, beats on revs; Enters into a strategic financing agreement with Sixth Street
    • Bed Bath & Beyond (BBBY) beats by $0.28, beats on revs; issues FY26 guidance
    • BioMarin Pharmaceutical (BMRN) reports Q4 (Dec) results, beats on revs; guides FY26 revs below consensus
    • Boise Cascade (BCC) beats by $0.10, beats on revs
    • Brightstar Lottery (BRSL) beats by $0.07, reports revs in-line; guides FY26 revs above consensus
    • BWX Technologies (BWXT) beats by $0.19, beats on revs; guides FY26 EPS above consensus, revs above consensus
    • Cannae Holdings (CNNE) reports Q4 (Dec) results, revs in-line
    • CECO Environ. (CECO) reports Q4 (Dec) results, beats on revs; raises FY26 revenue and adjusted EBITDA guidance
    • ChipMOS TECHNOLOGIES (IMOS) beats by $0.12, beats on revs
    • Clarivate (CLVT) beats by $0.04, beats on revs; guides FY26 EPS above consensus, revs in-line
    • Constellation Energy (CEG) beats by $0.05, beats on revs
    • Diamondback Energy (FANG) misses by $0.26, beats on revs; Issues 2026 production guidance
    • DigitalOcean (DOCN) beats by $0.06, beats on revs; guides Q1 revs above consensus; guides FY26 revs above consensus
    • Dillard's (DDS) reports Q4 (Jan) results (two estimates), misses on revs
    • Elanco Animal Health (ELAN) beats by $0.02, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY26 EPS in-line, revs above consensus
    • Enviri Corporation (NVRI) beats by $0.06, reports revs in-line
    • EverQuote (EVER) beats by $1.18, beats on revs; guides Q1 revs below consensus
    • Fidelity Nat'l Info (FIS) misses by $0.01, beats on revs; provides Q1 and FY26 guidance following Total Issuing Solutions acquisition and sale of its Worldpay stake
    • First Watch Restaurant Group (FWRG) beats by $0.17, reports revs in-line; guides FY26 revs below consensus
    • Forward Air (FWRD) misses by $0.65, reports revs in-line
    • Fresenius Medical (FMS) beats on top and bottom lines; proposes dividend raise; provides outlook
    • Galapagos NV (GLPG) reports €321M 2025 profit, advances cell therapy wind-down and focus on transformative growth
    • Helix Energy (HLX) beats by $0.04, beats on revs; guides FY26 revs in-line
    • Henry Schein (HSIC) beats by $0.04, beats on revs; guides FY26 EPS in-line, revs above consensus
    • Hims & Hers Health (HIMS) beats by $0.04, reports revs in-line; guides Q1 revs below consensus; guides FY26 revs in-line
    • Home Depot (HD) beats by $0.19, reports revs in-line; guides FY27 EPS in-line, revs in-line; raises dividend by 1.3%
    • Innovative Industrial Properties (IIPR) beats by $0.19, beats on revs
    • Innovex International (INVX) misses by $0.09, beats on revs; guides Q1 revs below consensus
    • Interface (TILE) beats by $0.09, reports revs in-line; guides Q1 revs above consensus; guides FY26 revs in-line; raises dividend
    • JBT Marel Corporation (JBTM) beats by $0.08, beats on revs; guides FY26 EPS above consensus, revs above consensus
    • Keurig Dr Pepper (KDP) beats by $0.01, beats on revs
    • Keysight (KEYS) beats by $0.17, beats on revs; guides Q2 EPS, revs above consensus
    • Kiniksa Pharmaceuticals (KNSA) misses by $0.16, reports revs in-line; guides FY26 revs in-line
    • Kratos Defense and Security (KTOS) beats by $0.02, beats on revs; guides Q1 revs below consensus; guides FY26 revs in-line
    • Leonardo DRS (DRS) beats by $0.05, beats on revs; guides FY26 EPS in-line, revs above consensus
    • Life Time (LTH) beats by $0.25, reports revs in-line; guides FY26 revs in-line; Board authorizes share repurchase program up to $500 mln
    • Martin Marietta (MLM) updates FY26 guidance following completion of asset exchange; guides FY26 revenue above consensus
    • MediaAlpha (MAX) beats by $0.26, misses on revs; guides Q1 revs above consensus; increases share repurchase authorization to $100 mln
    • Myriad Genetics (MYGN) beats by $0.05, beats on revs; guides Q1 revs below consensus; reaffirms FY26 revs guidance
    • NRG Energy (NRG) beats by $0.06, beats on revs; guides FY26 EPS in-line
    • ONEOK (OKE) beats by $0.04; guides FY26 EPS in-line
    • Option Care Health (OPCH) misses by $0.01, reports revs in-line; guides FY26 EPS in-line, revs in-line
    • Ovintiv (OVV) reports Q4 (Dec) results; Announces new shareholder return framework, increasing 2026 shareholder returns to at least 75% of full year Non-GAAP Free Cash Flow
    • Paymentus (PAY) beats by $0.04, beats on revs; guides Q1 revs in-line; guides FY26 revs below consensus
    • Planet Fitness (PLNT) beats by $0.04, beats on revs; guides FY26 revs below consensus
    • Primoris Services (PRIM) beats by $0.10, beats on revs; guides FY26 EPS in-line
    • ProAssurance (PRA) beats by $0.57, beats on revs
    • Quaker Chemical (KWR) misses by $0.10, reports revs in-line
    • Repligen (RGEN) beats by $0.05, beats on revs; guides FY26 revs in-line
    • Ryman Hospitality (RHP) beats by $0.19, beats on revs; guides FY26 AFFO above consensus
    • Shoals Technologies (SHLS) misses by $0.03, beats on revs; guides Q1 revs above consensus; guides FY26 revs in-line
    • Skyward Specialty Insurance Group (SKWD) beats by $0.14
    • Sotera Health (SHC) beats by $0.02, beats on revs; guides FY26 EPS in-line, revs in-line
    • Tennant (TNC) misses by $1.22, misses on revs; guides FY26 EPS below consensus, revs below consensus
    • UFP Industries (UFPI) reports Q4 (Dec) results, misses on revs
    • Ultra Clean Holdings (UCTT) reports EPS in-line, beats on revs; guides Q1 EPS in-line, revs in-line
    • V2X (VVX) beats by $0.22, reports revs in-line; guides FY26 EPS in-line, revs in-line
    • Viper Energy Partners (VNOM) beats by $0.02, reports revs in-line; Increasing base dividend by 15%, increasing share repurchase authorization by $1.0 bln
    • Vir Biotechnology (VIR) beats by $0.18, beats on revs
    • Westlake Corporation (WLK) beats by $1.16, misses on revs
    • Woodside Energy Group (WDS) posts record output; FY25 NPAT falls 24% on lower prices
    • Xenia Hotels (XHR) beats by $0.06, reports revs in-line; guides FY26 FFO above consensus
    • Xometry (XMTR) beats by $0.04, beats on revs; guides Q1 revs above consensus; guides FY26 revs above consensus
    • Ziff Davis (ZD) misses by $0.14, misses on revs
  • General News
    • President Trump is considering new tariffs on six industries under Section 232 trade authority, according to WSJ
    • A 10% global tariff takes effect as the White House prepares a formal order to raise it to 15%, according to Bloomberg
    • EU lawmakers warn that the new tariff structure violates the trade deal with U.S., according to Bloomberg
    • President Trump says the State of the Union address tonight will be a "long speech", according to NY Times
    • President Trump is expected to focus on the economy during the State of the Union address tonight, according to WSJ
    • President Trump will announce during the State of the Union that technology companies will be required to pay for extra utility costs, according to WSJ
    • President Trump denies reports that General Daniel Caine is against a strike on Iran
    • Secretary of State Marco Rubio will brief congressional leadership from both parties on Iran this afternoon; President Trump will give his State of the Union Address tonight at 21:00 ET
    • "The Trump administration is exploring options to build on Trump Accounts and its 401(k) EO by creating a new retirement savings plan for adults who don't have an employer-sponsored one without going through Congress" -- Semafor
    • Atlanta Fed President Raphael Bostic (non-voter) says the Fed will not be able to offset structural unemployment, according to Reuters
    • Ukraine President Volodymyr Zelenskyy says the war with Ukraine is at the "beginning of the end", according to FT
    • China banned export of critical minerals to several Japanese companies, according to WSJ
    • The aerospace industry could benefit from the new tariff structure, according to Reuters
    • Following earlier actions to remove reputation risk from its supervision of banks, Federal Reserve Board requests comment on proposal to codify that removal
    • Moody's releases research report on hyperscalers
    • Advanced Micro Devices (AMD) and Meta announce a 6-gigawatt agreement to power Meta’s next generation of AI infrastructure across multiple generations of Instinct GPUs
    • AeroVironment (AVAV) CFO to retire
    • AES (AES) announces landmark agreements with Google (GOOG) in Texas
    • Amphastar Pharmaceuticals (AMPH) announces FDA approval for Ipratropium Bromide HFA
    • Apple (AAPL) announces a significant expansion of factory operations in Houston, bringing the future production of Mac mini to the U.S. for the first time
    • Apple (AAPL) wants more chip supply in U.S, according to WSJ
    • Arcus (RCUS) Presents New Data for its HIF-2a Inhibitor Casdatifan, Which Showed Progression-Free Survival Beyond One Year in Late-Line Kidney Cancer
    • Astellas Pharma (ALPMY) and Vir Biotechnology (VIR) enter into a global strategic collaboration to advance VIR-5500, an investigational PRO-XTEN dual-masked CD3 T-cell engager targeting PSMA for the treatment of prostate cancer
    • Atlantic Union Bankshares (AUB) announces that Alexander D. Dodd has been appointed Chief Financial Officer, effective April 13, 2026
    • Axsome Therapeutics (AXSM) initiates CLARITY Phase 3 Trial of solriamfetol in adults with major depressive disorder with excessive daytime sleepiness symptoms
    • Bed Bath & Beyond (BBBY): Letter to shareholders from Marcus Lemonis, Executive Chairman and CEO: 2025 year end letter and 2026 outlook
    • Better Home & Finance (BETR) and Framework Ventures anounce strategic partnership to enable deployment of $500MM into Better via Sky's stablecoin ecosystem
    • Boston Scientific (BSX) approved an increase in its existing authorization to repurchase up to $1.0 bln of common stock by an additional $4.0 bln; Also increases number of Board directors from ten to twelve
    • BTQ Technologies (BTQ): BTQ-backed QPerfect, SDT launch MIMIQ-powered quantum emulation service on QUREKA
    • CEA Industries (BNC): YZILabs Management responds to CEA Industries’ proposed amendments to asset management agreement
    • Collective Mining (CNL) intercepts 54.55 Metres @ 7.04 g/t Au and 16 g/t Ag with assay results still pending for another 370 meters of mineralization
    • Covista (CVSA) unveils strategic plan for continued momentum and long-term value creation at Investor Day; reaffirms FY26 guidance; provides FY27-29 targets
    • Diamondback Energy (FANG): Letter to stockholders issued by Diamondback Energy, Inc.
    • Empery Digital (EMPD): Shareholder of Empery Digital Inc. calls for immediate resignation of CEO and entire Board of Directors
    • Ero Copper (ERO) announces results of the preliminary economic assessment on the Furnas Copper-Gold Project
    • FedEx (FDX) files a lawsuit to get a refund of tariffs, according to CNBC
    • First Watch Restaurant Group (FWRG) announces retirement of CFO Mel Hope
    • Ford Motor (F) is recalling certain 2017-2019 Explorer vehicles; 412774 units affected
    • Fulcrum Therapeutics (FULC) announces positive 12-week results from the 20 mg dose cohort of the phase 1b PIONEER trial of pociredir in sickle cell disease
    • Grupo Aeromexico (AERO) commented on Mexico airports; does not expect the operational impact to be material
    • GlaxoSmithKline (GSK) licenses two siRNA assets from Frontier Biotech in deal worth up to $1.0 bln
    • Haemonetics (HAE) announces U.S FDA clearance for the NexSys PCS Plasma Collection System with Persona PLUS technology
    • ICF International (ICFI) selected by The Florida Department of Management Services as an awardee on its expanded, three-year comprehensive management services contract
    • Intel (INTC): SambaNova introduces their SN50 AI chip, which boasts a max speed that’s 5X faster than competitive chips
    • Invesco Mortgage Capital (IVR) disclosed last night it approved a share repurchase plan pursuant to which the company may purchase up to an additional $1.0 billion in shares of the Company’s outstanding common stock, par value $0.20 per share
    • Invivyd (IVVD): New publication demonstrates variant-agnostic correlate of protection from COVID-19 for Invivyd monoclonal antibody
    • IonQ (IONQ) was awarded a contract under the Missile Defense Agency Scalable Homeland Innovative Enterprise Layered Defense indefinite-delivery/indefinite-quantity contract with a ceiling of $151 bln
    • Iridium Communications (IRDM) launches next generation IoT platform
    • JPMorgan Chase (JPM) at conference last night said the bank will end up being the "winner" in the AI space; says operating committee will have a dedicated AI specialist; says payment service competition was always high
    • Keurig Dr Pepper (KDP) announces updated financing plan for JDE Peet's acquisition
    • Larimar Therapeutics (LRMR) announces the U.S. Food and Drug Administration has granted Breakthrough Therapy Designation to nomlabofusp, a frataxin protein replacement therapy with disease modifying potential, for the treatment of adults and children with Friedreich’s ataxia
    • MacroGenics (MGNX) announces pausing of enrollment of new study participants in LINNET Trial
    • Meta (META): The IRS is challenging how Meta values offshore intellectual property, according to NY Times
    • Monte Rosa Therapeutics (GLUE) presents updated clinical data from phase 1/2 study of MRT-2359 in Combination with Enzalutamide in heavily pretreated metastatic castration-resistant prostate cancer patients at ASCO Genitourinary Cancers Symposium
    • Murphy Oil (MUR) announces results from the Caracal-1X exploration well in Block CI-102 offshore Côte d’Ivoire
    • Natera (NTRA) announces results from the SINERGY trial, a Phase 2 study in recurrent or metastatic head and neck squamous cell carcinoma
    • Novartis AG (NVS): New real-world data reinforce earlier use of Pluvicto before chemotherapy in metastatic castration-resistant prostate cancer
    • Novo Nordisk (NVO) partner reports up to 19.7% weight loss with triple agonist UBT251 in phase 2
    • Palvella Therapeutics (PVLA) announces positive topline results from the Company’s Phase 3 SELVA study of QTORIN 3.9% rapamycin anhydrous gel for the treatment of microcystic lymphatic malformations
    • Phreesia (PHR) appoints Jon Kessler to Board of Directors; Mr. Weintraub will continue to serve as Board Chair until his retirement date, at which point a new director will be appointed Chair
    • Protara Therapeutics (TARA): TARA-002 demonstrates 68% complete response rate at six months in BCG-unresponsive non-muscle invasive bladder cancer
    • Shoals Technologies (SHLS) announces an agreement to deploy multiple gigawatts of critical power systems into the AI data center market
    • Smith & Nephew (SNN) has signed a distribution agreement with SI-BONE, focused on their innovative iFuse TORQ portfolio
    • Southwest Air (LUV): Elliott Management (Paul Singer) disclosed lower active stake of 9.3% (previously 10.7%)
    • Stoneridge (SRI) announces that Jim Zizelman, president and chief executive officer, is retiring, effective May 20, 2026, following nearly seven years of dedicated service to the Company
    • The9 Ltd (NCTY) received 950,000,000 9BIT tokens in relation to its gaming platform the9bit
    • Tectonic Therapeutic (TECX) has appointed François Nader, as an independent director to its Board of Directors, effective April 1, 2026, at which time he will also assume the role of Chair of the Boa
    • Tenaris (TS) terminates second tranche of its $1.2 bln share buyback program
    • Teradata (TDC) disclosed last night it entered into a Settlement Agreement with SAP (SAP)
    • Thor Industries (THOR) announces a significant evolution of its North American RV operating model designed to strengthen competitiveness, accelerate collaboration and unlock substantial synergies across its family of leading RV brands
    • Vaalco Energy (EGY) reports solid Gabon well results; advances Cote d’Ivoire project
    • Village Farms (VFF) amended and extended its Canadian cannabis credit facility by upsizing loan commitments with existing lenders by CAD $15 million and extending maturities one year to February 2029
    • Vir Biotechnology (VIR) reports updated Phase 1 results for PSMA-targeting, PRO-XTEN dual-masked T-cell engager VIR-5500 in patients with metastatic prostate cancer
    • Westlake Chemical Partners (WLKP) discloses that CFO Steven Bender intends to retire
    • Whirlpool (WHR) announces strategic recapitalization to accelerate deleveraging and strategic growth; The aggregate proceeds from the Offerings are anticipated to be $800 mln
    • Xometry (XMTR) announces that effective July 1, 2026, Co-founder and Chief Executive Officer, Randy Altschuler, will transition to become the Executive Chair of the Board
  • Upgrades:
    • Booking Holdings (BKNG) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $5,500
    • Domino's Pizza (DPZ) upgraded to Overweight from Neutral at JPMorgan, tgt $450
    • Fox Corp. (FOXA) upgraded to Buy from Neutral at Seaport Research, tgt $64
    • Freshpet (FRPT) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $90
    • Genuine Parts (GPC) upgraded to Strong Buy from Market Perform at Raymond James, tgt $145
    • KeyCorp (KEY) upgraded to Neutral from Underperform at Robert W. Baird, tgt $19
    • PPL Corp. (PPL) upgraded to Overweight from Equal Weight at Barclays, tgt $40
    • Qualcomm (QCOM) upgraded to Equal Weight from Underweight at Wells Fargo, tgt $185
    • Vir Biotechnology (VIR) upgraded to Strong Buy from Outperform at Raymond James, tgt $19
  • Downgrades:
    • Afya (AFYA) downgraded to Neutral from Buy at BofA Securities, tgt $17
    • Blue Owl Capital (OWL) downgraded to Hold from Buy at Deutsche Bank, tgt $10
    • Boston Properties (BXP) downgraded to Neutral from Outperform at Mizuho, tgt $62
    • Cheniere Energy (LNG) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $236
    • DT Midstream (DTM) downgraded to Hold from Buy at Stifel, tgt $137
    • GATX (GATX) downgraded to Neutral from Buy at Citigroup, tgt $210
    • Gossamer Bio (GOSS) downgraded to Market Perform from Outperform at Leerink, tgt $1
    • Gossamer Bio (GOSS) downgraded to Underweight from Overweight at Barclays, tgt $0.30
    • Kilroy Realty (KRC) downgraded to Underperform from Neutral at Mizuho, tgt $29
    • Novo Nordisk (NVO) downgraded to Hold from Buy at Kepler Cheuvreux
    • Novo Nordisk (NVO) downgraded to Neutral from Overweight at JPMorgan
    • Rentokil Initial (RTO) downgraded to Hold from Buy at Deutsche Bank
    • Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Barclays
  • Others:
    • Acadia Pharmaceuticals (ACAD) initiated with an Outperform at Wolfe Research, tgt $33
    • Alkermes (ALKS) initiated with an Outperform at Wolfe Research, tgt $45
    • AlphaTON Capital (ATON) initiated with a Buy at H.C. Wainwright, tgt $2
    • Americas Gold and Silver (USAS) initiated with a Buy at Canaccord
    • Apollo Global Management (APO) initiated with a Sector Perform at RBC Capital, tgt $142
    • Axsome Therapeutics (AXSM) initiated with an Outperform at Wolfe Research, tgt $230
    • Blackstone (BX) initiated with an Outperform at RBC Capital, tgt $179
    • Cactus (WHD) initiated with an Overweight at Piper Sandler, tgt $73
    • Carlyle (CG) initiated with an Outperform at RBC Capital, tgt $67
    • Centessa Pharmaceuticals (CNTA) initiated with an Outperform at Wolfe Research, tgt $40
    • Dakota Gold (DC) initiated with an Outperform at Scotiabank, tgt $10
    • Definium Therapeutics (DFTX) initiated with an Outperform at Wolfe Research, tgt $25
    • Denali Therapeutics (DNLI) initiated with a Peer Perform at Wolfe Research
    • Eagle Materials (EXP) initiated with a Sector Perform at RBC Capital, tgt $208
    • Gentherm (THRM) initiated with a Buy at Stifel, tgt $41
    • Grindr (GRND) initiated with an Equal Weight at Morgan Stanley, tgt $14
    • KKR (KKR) initiated with an Outperform at RBC Capital, tgt $137
    • Neurocrine Biosciences (NBIX) initiated with an Outperform at Wolfe Research, tgt $160
    • PicPay (PICS) initiated with a Buy at BofA Securities, tgt $27
    • Praxis Precision Medicines (PRAX) initiated with an Outperform at Wolfe Research, tgt $500
    • Rubrik (RBRK) initiated with a Buy at DA Davidson, tgt $65
    • Sionna Therapeutics (SION) initiated with an Outperform at Citizens, tgt $63
    • Stoke Therapeutics (STOK) initiated with an Outperform at Wolfe Research, tgt $40
    • TPG (TPG) initiated with an Outperform at RBC Capital, tgt $59
    • uniQure (QURE) initiated with a Peer Perform at Wolfe Research
    • Venture Global (VG) initiated with an Underweight at Morgan Stanley, tgt $8
    • Xenon Pharmaceuticals (XENE) initiated with an Outperform at Wolfe Research, tgt $60
  • Econ Data (Wednesday):
    • 7:00 ET: Weekly MBA Mortgage Index (prior 2.8%)
    • 10:30 ET: Weekly crude oil inventories (prior -9.01 mln)
  • Earnings:
    • Monday (Feb 23)
      • Pre-Market: AXSM D DPZ DEA EMA FRPT WGS SCL
      • After-Hours: ACVA ADUS ALSN AESI BBBY BCC BMRN BWXT CNNE CWEN FANG EVER FWRD HLX HIMS IIPR INVX JBTM KEYS KTOS MAX MYGN OKE OVV PAY PRIM KWR RHP SKWD TNC UFPI UCTT VVX VNOM VIR ZD
      Tuesday (Feb 24)
      • Pre-Market: AHCO AIN AS AMT APLS AWI ARVN AVNS BNS BRSL CECO CEG CIFR CLVT DOCN ELAN NVRI ESTA EXPD FERG FIS FWRG HRMY HSIC HD TILE KDP KNSA DRS LTH NOVT NRG OPCH PLNT PTLO RGEN SHLS SHC WLK XHR XMTR
      • After-Hours: ATEC AMC AXON ATRO SAM BBIO CWH CDNA CAVA CCC IMOS CLNE CORT CSGP CYTK DAWN ECG EVH EXLS EXPI EOG FSLR FLYW GMED GDDY HPQ HURN IPAR JAZZ LNWO LTC LCID MQ MTDR MATX MMSI MOS MELI NMFC PARR PRCT RRC O REZI RVLV SLDE SPXC SUI SUPN TALO SKT TEM TMDX TREX UFPT PCVX VRRM WDAY ZETA
    • Wednesday (Feb 25)
      • Pre-Market: ACHC ALKS APG AROC ASPN AVA BMO BLMN CTRI CRCL YOU DIN DOLE DRVN FSS HAYW HUT HOV HNI IMCR IONS LFST LINE LIVN LOW MDLN MGPI NMRK ODD OC PLAB PNW RXRX SWX STWD SHOO TBLA TJX TPH UTHR XPEL
      • After-Hours: ACAD ADMA APA ADTN A ALKT RCUS ARRY BBSI BJRI AI WHD CWT CBZ CHE CPK CHYM CHRD CHDN DBRG DORM ECPG ENVX EPR WTRG EE FSK FTAI GDRX GRBK HEI IBTA IMAX NGVT IONQ JOBY KNTK KGS LMAT MGNI VAC MIAX MIRM MEG MYRG NSA NRDS NOG NTNX NVDA ORA OUT PSKY PEB PR PSTG RVMD ROOT RXST CRM SRPT SDGR SDRL SEZL SBGI SKYT SM SMA SNOW SARO SNPS TDOC TTD TKO TCOM USPH UHS URBN VECO VCYT VICI VSEC ZM
    • Thursday (Feb 26)
      • Pre-Market: ACMR GOLF AMBP ARHS ACIW BIDU BSY ONC BCRX CARS CELH LNG CQP CM COLL QBTS DCI DCO ECVT EME ENOV FA FTRE FTDR FCN FOUR ROCK GCT GIL GTN HTZ HRL IBP IART NTLA INSW SJM KBR KRP KOP DNUT KYMR LNTH LGND LOAR MNKD MIDD TIGO VYX NXST NOMD NVCR NVAX PZZA PAYO PENN PRGO PLTK PRMB PRVA PEG Q RYTM RY SRE SHAK TGLS TFX BLD TD TRS PRKS VTRS VCEL VIPS VISN VST VITL WD WRBY WBD WWW
      • After-Hours: ALHC AMBA AHR AAOI ACA ARLO AGO AUGO ADSK AVPT AES XYZ BCO CAI CERT CON CRWV CTRA CPNG CRNX CUBE DELL XRAY DRH DV DUOL ESTC EVTC FIGS FIGR FLUT FOXF GLOB GRND HGV ICFI INOD INTU MASI MTZ MNST MP NTRA NHI NATL NTAP LASR SMR OS OPK PCRX PAR PBA PGNY RLJ RKT RKLB SBAC SOLV SOUN STRA RUN SG SNDX TLN WULF BWIN REAL TPC WPM XPOF ZS
    • Friday (Feb 27)
      • Pre-Market: AMR ANIP BTSG CLMT DK FRO NIQ GOGO NWN SHO
      • After-Hours: GSAT
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