After Hours Report

Updated: 04-Feb-26 17:27 ET
Alphabet ticks lower following earnings; Qualcomm and Arm Holdings also under pressure

The midweek session unfolded in a similar fashion to yesterday's action, with significant losses across tech and mega-cap stocks pressuring the S&P 500 (-0.5%) and Nasdaq Composite (-1.5%) while the DJIA (+0.5%) benefited from rotational strength into other corners of the market. 

While the DJIA made a run towards fresh record highs this morning, the S&P 500 dipped below its 50-day moving average (6,878.02) as selling pressure increased in the early afternoon, though the index recovered and closed just above the key technical level. 

Meanwhile, the Nasdaq Composite remains below its own 50-day moving average (23,390.10), with today's losses moving the index into negative territory for the year. 

The top-weighted information technology sector (-1.9%) widened its year-to-date loss to 5.2%. While the sector lagged for the entirety of the session, it is worth noting that some support kicked in after an early afternoon slide that saw the sector's losses for the day expand past 3.0% amid a sharp retreat in bitcoin.

Still, the PHLX Semiconductor Index (-4.4%) faced a considerable retreat as shares of Advanced Micro Devices (AMD 200.19, -41.92, -17.31%) plummeted despite beating earnings expectations and delivering upside Q1 guidance. NVIDIA (NVDA 174.19, -6.15, -3.41%) had a poor showing, though the sector's other "magnificent seven" components, Apple (AAPL 276.49, +7.01, +2.60%) and Microsoft (MSFT 414.19, +2.98, +0.72%), fared better. 

Even with the modest gain in Microsoft, software stocks faced an extension of yesterday's pressure, sending the iShares GS Software ETF 1.8% lower. 

Pressure across mega-cap names elsewhere pushed the communication services (-1.7%) and consumer discretionary (-1.2%) sectors lower as well. Alphabet (GOOG 333.34, -7.36, -2.16%) was a laggard ahead of its earnings report after the close. 

The Vanguard Mega Cap Growth ETF finished 1.4% lower, widening its negative start to 2026. 

With the exception of a modest pullback in the utilities sector (-0.4%), which outperformed yesterday, the broader market saw another solid day of rotational interest. 

Seven S&P 500 sectors finished higher, with five boasting a gain of 1.0% or wider. As a result, the S&P 500 Equal Weighted Index (+0.9%) outperformed the market-weighted S&P 500 (-0.5%) by a considerable margin.

The energy sector (+2.3%) once again captured the widest gain as crude oil futures settled today's session $1.97 higher (+3.1%) at $65.13 a barrel. Axios reported that diplomatic talks between the U.S. and Iran have hit a roadblock regarding nuclear negotiations. 

The materials sector (+1.8%) also saw an extension of yesterday's gains. Smurfit Westrock plc (SW 44.38, +3.48, +8.51%) led the advance after the company announced it would increase its quarterly dividend, while Amcor (AMCR 48.58, +3.66, +8.16%) finished similarly after topping EPS estimates and reaffirming its FY26 EPS guidance. 

Meanwhile, the health care sector (+1.2%) notched a solid gain after a lower finish yesterday, with Eli Lilly (LLY 1107.75, +104.29, +10.39%) and Amgen (AMGN 366.20, +27.61, +8.15%) among the top performers after beating earnings estimates. 

The real estate sector (+1.5%) advanced on broad strength, rounding out the top five, while the financials (+0.8%) and industrials (+0.2%) sectors captured more modest gains. 

Outside of the S&P 500, the Russell 2000 (-0.9%) and S&P Mid Cap 400 (+0.7%) finished mixed. 

Overall, the session reinforced the market's recent tug-of-war between persistent pressure on tech and the resulting rotational strength elsewhere. The market has more key mega-cap earnings on tap, which will likely be key in determining whether leadership stabilizes or the current rotation continues.

U.S. Treasuries had another steady showing on Wednesday, keeping yields near levels seen during Tuesday's sideways session. The 2-year note yield settled down one basis point to 3.56%, and the 10-year note yield finished unchanged at 4.28%. 

  • S&P Mid Cap 400: +5.8% YTD
  • Russell 2000: +5.8% YTD
  • DJIA: +3.0% YTD
  • S&P 500: +0.5% YTD
  • Nasdaq Composite: -1.5% YTD

Reviewing today's data:

  • Weekly MBA Mortgage Applications Index -8.9%; Prior -8.5%
  • January ADP Employment Change 22K (Briefing.com consensus 43K); Prior was revised to 37K from 41K
  • January S&P Global U.S. Services PMI - Final 52.7; Prior 52.5
  • January ISM Non-Manufacturing Index 53.8% (Briefing.com consensus 53.7%); Prior was revised to 53.8% from 54.4%
    • The key takeaway from the report is that activity in the services sector grew at a steady pace in January at the same time prices paid for materials and services increased.

Overseas:

  • Europe: DAX -0.5%, FTSE +0.9%, CAC +1.0%
  • Asia: Nikkei -0.8%, Hang Seng +0.1%, Shanghai +0.9%

Commodities:

  • Crude Oil +1.97 @ 65.13
  • Nat Gas +0.15 @ 3.46
  • Gold +16.80 @ 4948.20
  • Silver +1.46 @ 84.41
  • Copper -0.24 @ 5.85

After-Hours Spotlight:

  • Align Tech (ALGN) beats by $0.32, beats on revs; guides Q1 revs in-line; guides FY26 revs in-line...ALGN +11.0%
  • Alphabet (GOOG) beats by $0.19, beats on revs, Google Cloud revenue up 48%; Guides for FY26 capex of $175-$185 bln...GOOG -1.2%
  • American Superconductor (AMSC) reports Q3 (Dec) results, beats on revs; guides Q4 EPS in-line, revs in-line...AMSC +14.1%
  • Arm Holdings plc (ARM) beats by GBP0.02, beats on revs; guides Q4 EPS in-line, revs in-line...ARM -8.4%
  • Cerence (CRNC) delivers strong Q1 results; reaffirms full-year fiscal 2026 guidance...CRNC -16.4%
  • Coherent (COHR) beats by $0.08, beats on revs; guides Q3 EPS in-line, revs in-line...COHR -2.4%
  • Digi Intl (DGII) beats by $0.01, beats on revs; guides Q2 EPS in-line, revs above consensus...DGII -12.8%
  • e.l.f. Beauty (ELF) beats by $0.52, beats on revs; guides FY26 EPS above consensus, revs above consensus...+1.3%
  • Fluence (FLNC) misses by $0.13, misses on revs; reaffirms FY26 revs guidance...FLNC -7.9%
  • FormFactor (FORM) beats by $0.11, beats on revs; guides Q1 EPS above consensus, revs above consensus...FORM +14.6%
  • NETGEAR (NTGR) beats by $0.21, beats on revs; guides Q1 revs below consensus...NTGR +5.1%
  • Qualcomm (QCOM) beats by $0.11, reports revs in-line; guides Q2 EPS below consensus, revs below consensus...QCOM -8.1%
  • Snap (SNAP) beats by $0.06, beats on revs; guides Q1 revs below consensus...SNAP +4.7%
  • Symbotic (SYM) reports Q1 (Dec) results, beats on revs; guides Q2 revs above consensus...SYM +9.8%

Fair Value for Thursday, February 5:

  • S&P 500: 6,906
  • Nasdaq 100: 24,993
  • DJIA: 49,602
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):
    • 8x8 (EGHT) beats by $0.03, beats on revs; guides MarQ revenue above consensus
    • Adient (ADNT) beats by $0.13, beats on revs; guides FY26 revs above consensus
    • Advanced Micro Devices (AMD) beats by $0.21, beats on revs; guides Q1 revs above consensus
    • Alamos (AGI) provides three-year operating guidance outlining 46% production growth by 2028 at significantly lower costs
    • Amcor (AMCR) beats by $1.02, beats on revs; reaffirms FY26 EPS guidance
    • Amdocs (DOX) beats by $0.05, reports revs in-line; guides Q2 EPS below consensus, revs in-line
    • American Fincl (AFG) beats by $0.38, beats on revs; guides FY26 EPS below consensus; declares special dividend of $1.50/share
    • Amgen (AMGN) beats by $0.56, beats on revs; guides FY26 EPS in-line, revs in-line
    • Ares Capital (ARCC) reports EPS in-line, revs in-line
    • Artisan Partners Asset Mgmt (APAM) beats by $0.18, beats on revs; Declares special annual dividend
    • Atmos Energy (ATO) reports EPS in-line; reaffirms FY26 EPS guidance
    • ATS Corp (ATS) beats by $0.16, beats on revs
    • Avery Dennison (AVY) beats by $0.06, reports revs in-line; guides Q1 EPS in-line
    • Azenta (AZTA) beats by $0.02, beats on revs
    • Benchmark Electronics (BHE) beats by $0.07, beats on revs; guides Q1 EPS in-line, revs in-line
    • Boston Scientific (BSX) beats by $0.02, reports revs in-line; guides Q1 EPS in-line; guides FY26 EPS in-line
    • BrightView (BV) misses by $0.03, beats on revs; reaffirms FY26 revs guidance
    • Bunge (BG) beats by $0.18, beats on revs; guides FY26 EPS below consensus
    • Cabot (CBT) beats by $0.12, misses on revs; guides FY26 EPS in-line
    • Carlisle Cos (CSL) beats by $0.32, beats on revs
    • CDW (CDW) beats by $0.13, beats on revs
    • Cencora (COR) beats by $0.03, reports revs in-line; reaffirms FY26 EPS guidance, guides FY26 revs above consensus
    • Champion Homes (SKY) beats by $0.12, beats on revs
    • Chipotle Mexican Grill (CMG) beats by $0.01, comps -2.5%, reports revs in-line; guides to FY26 comps of "about flat"
    • Chubb (CB) beats by $0.75, beats on revs
    • Cirrus Logic (CRUS) beats by $0.53, beats on revs; guides MarQ revs above consensus
    • Clorox (CLX) misses by $0.04, beats on revs; reaffirms FY26 EPS guidance, revs guidance
    • CME Group (CME) beats by $0.02, reports revs in-line
    • Cognizant Tech (CTSH) beats by $0.03, reports revs in-line; guides Q1 revs in-line; guides FY26 EPS in-line; increases dividend
    • Columbia Sportswear (COLM) beats by $0.54, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY26 EPS above consensus, revs above consensus
    • Corteva (CTVA) reports EPS in-line, misses on revs; guides FY26 EPS in-line
    • CyberArk (CYBR) beats by $0.19, beats on revs; On July 30, 2025, company announced that it entered into a definitive agreement under which Palo Alto Networks (PANW) intends to acquire it
    • Electronic Arts (EA) misses by $1.18, beats on revs
    • Eli Lilly (LLY) beats by $0.63, beats on revs; guides FY26 EPS above consensus, revs above consensus
    • Emerson (EMR) beats by $0.04, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; guides FY26 EPS in-line, revs above consensus
    • Enact Holdings (ACT) beats by $0.15, misses on revs
    • Enphase Energy (ENPH) beats by $0.12, beats on revs; guides Q1 revs above consensus
    • Equifax (EFX) beats by $0.03, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY26 EPS in-line, revs above consensus
    • Evercore (EVR) beats by $1.08, beats on revs
    • Flex (FLEX) beats by $0.09, beats on revs; guides Q4 EPS in-line, revs in-line
    • Fortive (FTV) beats by $0.06, beats on revs; guides FY26 EPS above consensus
    • GE HealthCare (GEHC) beats by $0.04, beats on revs; guides FY26 EPS above consensus
    • GlaxoSmithKline (GSK) beats by 2 pence, beats on revs; reaffirms outlook
    • H & R Block (HRB) beats by $0.05, beats on revs; guides FY26 EPS in-line, revs in-line
    • Hanover Insurance (THG) beats by $0.76, beats on revs
    • IAC Inc. (IAC) reports Q4 (Dec) results, revs in-line; Provides FY26 outlook
    • IDEX Corp (IEX) beats by $0.06, beats on revs; guides Q1 EPS below consensus; guides FY26 EPS in-line
    • Intapp (INTA) beats by $0.07, beats on revs; guides Q3 EPS below consensus, revs above consensus; guides FY26 EPS above consensus, revs in-line
    • Jack Henry (JKHY) beats by $0.29, beats on revs; guides FY26 EPS above consensus, revs above consensus
    • Jacobs Solutions (J) beats by $0.03, beats on revs; guides FY26 EPS in-line
    • Johnson Controls (JCI) misses by $0.16, misses on revs; guides Q2 EPS below consensus; raises FY26 EPS above consensus
    • Kennametal (KMT) beats by $0.09, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY26 EPS above consensus, revs above consensus
    • Lear (LEA) beats by $0.60, beats on revs; guides FY26 revs in-line
    • Lumen Technologies (LUMN) beats by $0.49, reports revs in-line
    • Lumentum (LITE) beats by $0.26, beats on revs; guides Q3 EPS above consensus, revs above consensus
    • Match Group (MTCH) beats by $0.12, reports revs in-line; guides Q1 revs in-line; guides FY26 revs below consensus; increases dividend by 5%
    • Mercury (MRCY) beats by $0.09, beats on revs; provides guidance in presentation; sees Q3 revenue down yr/yr, reaffirms FY26 revenue growth
    • Mondelez Int'l (MDLZ) beats by $0.02, beats on revs; Expects FY26 adjusted EPS growth of 0-5% on constant currency basis
    • New York Times (NYT) beats by $0.01, beats on revs; declares dividend
    • Novartis AG (NVS) beats by $0.05, misses on revs
    • Novo Nordisk (NVO) reports FY25 results
    • Oaktree Specialty Lending Corp (OCSL) beats by $0.03
    • Old Dominion (ODFL) beats by $0.03, reports revs in-line; increases dividend
    • Performance Food Group (PFGC) misses by $0.11, reports revs in-line; guides Q3 revs in-line; guides FY26 revs in-line
    • Phillips 66 (PSX) beats by $0.32
    • Pony AI (PONY) reports prelim 2025 results
    • Powell Inds (POWL) beats by $0.48, misses on revs
    • Prudential (PRU) misses by $0.07
    • RenaissanceRe (RNR) beats by $3.06, beats on revs
    • Reynolds Consumer Products (REYN) reports EPS in-line, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY26 EPS below consensus, revs below consensus
    • Silgan Holdings (SLGN) beats by $0.03, reports revs in-line; guides Q1 EPS in-line
    • Silicon Labs (SLAB) beats by $0.01, reports revs in-line; Due to pending acquisition by Texas Instruments, company is suspending providing guidance
    • Silicon Motion (SIMO) reports EPS in-line, beats on revs; guides Q1 revs well above consensus; expects a significantly stronger-than-seasonal start to 2026
    • Skyworks (SWKS) beats by $0.14, beats on revs; guides Q2 EPS above consensus, revs above consensus
    • Sonos (SONO) beats by $0.11, beats on revs (two analyst estimate)
    • Stanley Black & Decker (SWK) beats by $0.13, misses on revs; guides FY26 EPS in-line
    • Suncor Energy (SU) beats by C$0.07, increases dividend by 5%
    • Super Micro Computer (SMCI) beats by $0.20, beats on revs; guides Q3 EPS above consensus, revs above consensus; raises FY26 revs above consensus
    • Take-Two (TTWO) misses by $0.11, beats on revs; guides Q4 EPS in-line, revs in-line
    • Timken (TKR) beats by $0.05, beats on revs; guides FY26 EPS in-line, revs in-line
    • T. Rowe Price (TROW) misses by $0.02, reports revs in-line
    • Uber (UBER) misses by $0.65, reports revs in-line
    • UBS AG (UBS) misses by $0.17, beats on revs; provides outlook
    • Valvoline (VVV) beats by $0.04, reports revs in-line
    • Varonis Systems (VRNS) beats by $0.05, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY26 EPS below consensus, revs above consensus; to acquire AllTrue.ai
    • Veralto (VLTO) beats by $0.06, reports revs in-line; guides FY26 EPS in-line
    • Verastem (VSTM) guides Q4 revenue above consensus; provides business update and outlines 2026 strategic priorities for novel portfolio
    • Voya Financial (VOYA) misses by $0.15, beats on revs
    • Wabash Natl (WNC) misses by $0.17, reports revs in-line; guides Q1 EPS below estimate, revs below estimate
    • Weatherford (WFRD) beats by $0.48, beats on revs
    • Yum! Brands (YUM) misses by $0.03, beats on revs; increases dividend
    • Yum China (YUMC) beats by $0.10, beats on revs; provides outlook and capital return update
    • ZTO Express (ZTO) sees FY25 revs guidance in line with consensus; proposes convertible notes offering
    • Zurn Elkay Water Solutions (ZWS) beats by $0.02, beats on revs
  • General News
    • Talks between the U.S. and Iran are still expected this week despite recent provocations, according to WSJ
    • President Trump signs bill to fund 11 out of 12 government agencies through September 30 and DHS through February 13
    • Stephen Miran will resign from the White House but will continue his job as Fed Governor for now, according to NY Times
    • India made a push behind the scenes to secure a trade deal with President Trump, according to Bloomberg
    • Italy, France, and Germany are considering stockpiling critical minerals, according to Reuters
    • The Trump administration blocked FDA review of psychedelic treatments, according to Stat News
    • December North America Class 8 net orders increased 20% yr/yr, according to Act Research
    • 3M (MMM) increases quarterly dividend to $0.78/share from $0.73/share
    • Advanced Micro Devices (AMD) on Q4 call says it's in discussions with other customers on at scale, multi-year chip deployments
    • Alamos Gold (AGI) announces Island Gold District expansion to 20,000 TPD, including 69% After-Tax IRR and $12.2 billion NPV at $4,500/oz Gold
    • Alphabet (GOOG/GOOGL): States file to appeal GOOG antitrust ruling, according to Reuters
    • Amdocs (DOX) announces the extension of its long-standing strategic collaboration with T-Mobile USA through a new multi-year agreement supporting T-Mobile's continued growth and operational excellence
    • Amdocs (DOX) announces that Shuky Sheffer, President and Chief Executive Officer of Amdocs Management Limited, has decided to retire and will be replaced by Shimie Hortig, currently Group President of the Americas Business Group
    • Amgen (AMGN) provides update on TEVNEOS
    • Anthropic introduced a new tool that can automate contract reviewing and legal briefings, according to Bloomberg
    • Banco Santander (SAN) announces commencement of a program to repurchase own shares
    • Bristol-Myers (BMY): OXB signs new multi-year commercial supply agreement with Bristol Myers Squibb
    • Civeo (CVEO) was awarded a four-year contract with Ontario’s Ministry of the Solicitor General, under which it anticipates producing and transporting approximately 20,000 meals per day to ten provincial correctional facilities across Ontario
    • Dine Brands (DIN) announces that Enrique Silva and Amanda Clark will be joining as independent members of its Board of Directors, effective February 4, 2026
    • Docebo (DCBO) announces commencement of previously announced substantial issuer bid
    • Dollar General (DG) announces updates to its board of directors
    • Enact Holdings (ACT) authorizes a new share repurchase program under which the company may purchase up to $500 mln of its common stock
    • Eve Holding (EVEX): AirX signs firm order agreement with Eve Air Mobility for two eVTOL aircraft
    • Ford (F) in discussions for a manufacturing partnership with Geely (GELYY), according to Reuters
    • Gilat Satellite (GILT) receives over $10 million order to support LEO Constellation
    • Google (GOOG, GOOGL) to expand in India, according to Bloomberg
    • ICF International (ICFI) awarded a $21 million contract to lead environmental reviews for the Diridon Station Redevelopment Project in San Jose, California
    • Insulet (PODD) and NXP USA amended Purchase Agreement to extend and adjust pricing/volume terms
    • Intapp (INTA) authorizes a common stock repurchase program of up to $200.0 mln on January 29, 2026
    • Lam Research (LRCX) announces that Anirudh Devgan has joined its board of directors; he currently serves as President and CEO of Cadence Design Systems (CDNS)
    • Lam Research (LRCX) announces that effective March 6, 2026, Sesha Varadarajan will transition to the role of Chief Operating Officer
    • Lumen Technologies (LUMN) announces that Jeff Sharritts has been appointed Executive Vice President and Chief Revenue Officer, effective Feb. 4
    • Microsoft's (MSFT) Copilot chatbot is playing catch-up to the competition, according to WSJ
    • Netflix (NFLX) co-CEO Ted Sarandos told Senators company doesn't have a political agenda, according to NBC News
    • Nova Minerals Limited (NVA) plans U.S. redomiciliation and move to full ownership of Estelle project
    • Nvidia (NVDA) close to a deal to invest $20 bln in OpenAI, according to Bloomberg
    • Nvidia (NVDA) H200 chip sales are still waiting for final U.S. approval, according to FT
    • Pacific Biosciences (PACB) COO will on an interim basis assume responsibilities for the Company’s sales and customer support organizations
    • Prudential (PRU): The Prudential Life Insurance Company, Ltd. and its parent company, Prudential Financial, announce a voluntary 90-day suspension of new sales activity at Prudential of Japan
    • Ranger Energy Services (RNGR) discloses contract with a core customer
    • Ring Energy (REI) announces that Mr. Sundip Singh Johl will be joining the Company as its Executive Vice President, Chief Financial Officer and Treasurer effective February 27, 2026
    • RTX's (RTX) Pratt & Whitney Canada signs APS5000 maintenance agreement with Scoot
    • RTX's (RTX) Raytheon partners with Department of War on five landmark agreements to expand critical munition production
    • Sigma Lithium (SGML) highlights the issuance of a publicly disseminated official technical statement by Brazil's mining industry regulator, Agencia Nacional de Mineracao, explicitly attesting the safety of Sigma Lithium's waste piles
    • Tesla (TSLA) China made EV sales increase 9.3% in January, according to Reuters
    • TotalEnergies SE (TTE) and Tikehau Capital have announced the creation of a joint investment platform to promote the development of charging infrastructure for electric vehicles in urban public spaces in Belgium and the Netherlands
    • Toyota (TM) aiming to increase hybrid production by 30%, according to Nikkei
    • Union Pacific (UNP) and Wabtec (WAB) signed a landmark agreement totaling $1.2 bln to modernize the railroad’s AC4400 locomotives
    • USA Rare Earth (USAR) explores $3 bln-plus funding to fast-track plans, according to Bloomberg
    • Vertical Aerospace Group (EVTL) advances Japan commercialisation with Marubeni via electric air taxi routes
    • Vertical Aerospace Group (EVTL) wins proof-of-concept grant to advance emergency medical services capabilities for Singapore
    • WaFd, Inc. (WAFD) increases the number of shares authorized for repurchase by 4.5 million, bringing the currently authorized amount up to 10 million
    • WEC Energy Group (WEC) discloses settlement and related financial impact
    • Western Digital (WDC) accelerates storage innovation for AI Era
    • Zevra Therapeutics (ZVRA) presents positive new real-world data on MIPLYFFA in patients with neimann-pick disease Type C (NPC) at the 22nd Annual WORLDSymposium
  • Upgrades:
    • Airbnb (ABNB) upgraded to Outperform from Market Perform at Citizens, tgt $160
    • Booking Holdings (BKNG) upgraded to Outperform from Neutral at Mizuho, tgt $6,000
    • Broadridge Financial (BR) upgraded to Buy from Neutral at DA Davidson, tgt $228
    • Capri Holdings (CPRI) upgraded to Outperform from Neutral at Robert W. Baird, tgt $26
    • Devon Energy (DVN) upgraded to Overweight from Equal Weight at Barclays, tgt $50
    • Enphase Energy (ENPH) upgraded to Outperform from Sector Perform at RBC Capital, tgt $54
    • Enphase Energy (ENPH) upgraded to Market Perform from Underperform at BMO Capital, tgt $41
    • Five Below (FIVE) upgraded to Buy from Underperform at BofA Securities, tgt $233
    • GE Vernova (GEV) upgraded to Outperform from Neutral at Robert W. Baird, tgt $923
    • Cloudflare (NET) upgraded to Buy from Neutral at BTIG Research, tgt $199
    • NOV Inc. (NOV) upgraded to Equal Weight from Underweight at Barclays, tgt $20
    • Omnicell (OMCL) upgraded to Buy from Neutral at BofA Securities, tgt $70
    • PayPal (PYPL) upgraded to Neutral from Sell at Compass Point, tgt $51
    • Tvardi Therapeutics (TVRD) upgraded to Buy from Neutral at Lucid Capital Markets, tgt $6
    • Verisk Analytics (VRSK) upgraded to Outperform from Market Perform at BMO Capital, tgt $233
  • Downgrades:
    • AES Corp. (AES) downgraded to Equal Weight from Overweight at Barclays, tgt $15
    • Alpha Metallurgical Resources (AMR) downgraded to Neutral from Buy at B. Riley Securities; tgt $203
    • Booking Holdings (BKNG) downgraded to Market Perform from Outperform at Citizens
    • CF Industries (CF) downgraded to Sell from Neutral at Rothschild & Co Redburn, tgt $72
    • Enerflex (EFXT) downgraded to Outperform from Strong Buy at Raymond James
    • Entegris (ENTG) downgraded to Hold from Buy at Deutsche Bank, tgt $105
    • Himax Technologies (HIMX) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $8
    • Lumen Technologies (LUMN) downgraded to Market Perform from Outperform at Raymond James
    • PayPal (PYPL) downgraded to Hold from Buy at Canaccord Genuity, tgt $42
    • PayPal (PYPL) downgraded to Hold from Buy at HSBC, tgt $47
    • PayPal (PYPL) downgraded to Market Perform from Outperform at Citizens
    • TransDigm (TDG) downgraded to Neutral from Outperform at Robert W. Baird, tgt $1,400
  • Others:
    • Alpine Income Property Trust (PINE) initiated with an Overweight at Cantor Fitzgerald, tgt $20
    • CTO Realty Growth (CTO) initiated with an Overweight at Cantor Fitzgerald, tgt $20
    • Global Net Lease (GNL) initiated with an Overweight at Cantor Fitzgerald, tgt $11
    • Kontoor Brands (KTB) initiated with a Hold at Jefferies, tgt $65
    • Levi Strauss & Co. (LEVI) initiated with a Buy at Jefferies, tgt $25
    • Modiv (MDV) initiated with an Overweight at Cantor Fitzgerald, tgt $18
    • Pagaya Technologies (PGY) initiated with a Buy at Freedom Capital Markets, tgt $30
    • SEI Investments (SEIC) initiated with a Buy at UBS, tgt $115
    • Verastem (VSTM) assumed with a Buy at H.C. Wainwright, tgt $18
    • Whitestone REIT (WSR) initiated with an Overweight at Cantor Fitzgerald, tgt $16
  • Econ Data (Thursday):
    • 8:30 ET: Weekly Initial Claims (Briefing.com consensus 210,000; prior 209,000) and Continuing Claims (prior 1.827 mln)
    • 10:00 ET: December Job Openings (prior 7.146 mln)
    • 10:30 ET: Weekly natural gas inventories (prior -242 bcf)
  • Earnings:
    • Monday (Feb 2)
      • Pre-Market: APTV HESM IDXX NSSC RVTY TSN DIS
      • After-Hours: ASH CSWC DVA FN DOC KFRC MTG NJR NXPI PLTR SPG TER WWD
      Tuesday (Feb 3)
      • Pre-Market: ADM AME ATI ATKR BALL BRBR BR CPRI ETN EPD FUBO GLXY IT GWW GPK HLNE HUBB ITW INGR JJSF MSGE MPC MRK MPLX PYPL PNR PEP PFE PJT RES SR MZTI TDG WTW
      • After-Hours: AMD AMCR DOX AFG AMGN APAM ATO BHE BV CBT CSL SKY CMG CB CRUS CLX COLM CTVA EA EMR ENPH HRB THG HMN IAC INTA JKHY J LUMN LITE MTCH MRCY MDLZ POWL PRU RNR SIMO SWKS SONO SU SMCI TTWO VRNS VLTO VOYA WFRD ZWS
    • Wednesday (Feb 4)
      • Pre-Market: ABBV ADNT ARCC AVY AZTA TECH BSX BG CDW COR CME CTSH LLY EFX EVR FSV FLEX FTV FOXA GEHC GSK IEX JCI KMT LEA NYT NVS OCSL ODFL PFGC PSX REYN SLGN SWK TROW TKR UBER UBS VVV VSH YUMC YUM
      • After-Hours: ATEN AFL ALGN ALGT ALL GOOG ARM ASGN AVB BKH BLBD BOOT CENT COHR CMP CLB CPAY CCK CCI DHT DGII ELF EGP ENS EQH ESS EG FR FLNC FMC FORM GL GBDC KMPR KLIC MCK MET MAA MOD MC MCRI MWA MUSA NTGR NOV ORLY OHI PTC PTEN QGEN QCOM RAL RRX REXR SITM SNAP SONY STE STC SYM TENB TTMI UGI VCTR WEX WOLF
    • Thursday (Feb 5)
      • Pre-Market: WMS AGCO AB MT ARES ABG BCE BMY BLSH GOOS CAH CARR CMS COP ROAD CMI EMBC ENR NVST EL FCFS GPRE GFF HAE HP HSY HII NSIT ICE IDCC IQV ITT KKR LADR LSPD LIN MTSI MBUU MMS MDU NTCT OMCL OMF PATK BTU PTON PBH RL RBC RBLX ROK SCSC SIRI SNA SPB TPR CI THR TRI TW WEC XEL XPO
      • After-Hours: ADPT AFRM AOSL AMZN ATR ARW ARWR TEAM BILL BE BYD CPT CNO CDP COTY COUR CUZ DLR DOCS EHC EQR ESE EXPO FLS FTNT GEN G GOLD HUBG ILMN PI IREN KN LION RAMP MGY MTD MCHP MOH MPWR OTEX PCTY PECO POST POWI QLYS QNST RDDT REG RGA SSNC STEP MSTR SYNA UDMY UNM VTR VRSN VSAT WERN WMG
    • Friday (Feb 6)
      • Pre-Market: AER AN BIIB CG CBOE CNC IMVT MKTX NWL NVT PWP PM PIPR PAA PRLB ROIV RXO UAA
      • After-Hours: None
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