After Hours Report

Stocks had another tough session as rising oil prices continue to put broad pressure on the market. The S&P 500 (-1.5%), Nasdaq Composite (-1.9%), and DJIA (-1.6%) finished firmly lower across the board, with each index now in negative week-to-date territory. 

Oil climbed before the stock market opened amid reports that more tankers had been struck in the Strait of Hormuz. CNBC reported that Iran's new supreme leader, Mojtaba Khamenei, seeks to keep the Strait of Hormuz closed.

Energy Secretary Chris Wright told CNBC that the U.S. Navy is not yet ready to escort tankers through the strait, though it aims to be able to do so by the end of the month.

In the meantime, the supply disruption continues to push oil prices higher, which has weighed heavily on the market's expectations for policy easing from the Fed this year. Crude oil futures settled today's session $8.84 higher (+10.2%) at $95.72 per barrel. At the same time, the market's implied probability of at least a 25-basis point rate cut does not eclipse 50% until the December FOMC meeting, according to the CME FedWatch Tool.

While the energy sector (+1.0%) notched a nice gain as oil prices surged higher, the market faced broad weakness today with eight S&P 500 sectors finishing lower. 

The industrials sector (-2.5%) logged the widest retreat as airline and trucking names such as Southwest Air (LUV 38.61, -3.24, -7.74%) and Old Dominion (ODFL 176.24, -12.54, -6.64%) continue to struggle amid rising fuel costs. 

Similarly, cruise lines such as Carnival (CCL 23.92, -2.05, -7.89%) were among the worst performers in the consumer discretionary sector (-2.2%). 

Elsewhere in the sector, homebuilder names also lagged as diminishing rate cut expectations push Treasury yields higher. The iShares U.S. Home Construction ETF finished 2.9% lower. 

Tesla (TSLA 395.01, -12.81, -3.14%) was also a "magnificent seven" laggard amid a tough day for mega-cap stocks, with the Vanguard Mega Cap Growth ETF retreating 1.8%. 

Weakness across mega-cap tech pushed the information technology (-1.7%) and communication services (-1.6%) sectors lower as well. Chipmakers were a point of significant weakness, sending the PHLX Semiconductor Index 3.4% lower. 

Elsewhere, the financials sector (-1.6%) logged a similar retreat as asset managers faced renewed pressure after Bloomberg reported that Morgan Stanley (MS 154.30, -6.59, -4.10%) and Cliffwater are capping withdrawals from private credit funds after investors rushed to redeem funds.

The defensive utilities (+0.7%) and consumer staples (+0.1%) sectors garnered some modest rotational interest today as growth and cyclical sectors lagged, though the health care sector (-1.8%) faced broad pressure.

Outside of the S&P 500, the Russell 2000 (-2.1%) and S&P Mid Cap 400 (-2.1%) trailed the major averages as growth stocks underperformed today. 

The major averages will enter the final session of the week in negative territory as rising oil prices continue to prompt inflationary concerns, creating a high-volatility environment. Investors will receive the January PCE Price Index (Briefing.com consensus 0.3%) and Core PCE Price Index (Briefing.com consensus 0.4%) tomorrow morning, and while the report will not yet reflect the surge in energy prices, expectations that future readings could run hotter due to the oil supply disruption make this release particularly important.

U.S. Treasuries retreated again on Thursday with shorter tenors leading the slide amid ongoing focus on the rising price of oil and the broader implications for the global economy. The 2-year note yield settled up 13 basis points to 3.76%, and the 10-year note yield settled up seven basis points to 4.27%.

• S&P Mid Cap 400: +1.2% YTD
• Russell 2000: +0.3% YTD
• S&P 500: -2.5% YTD
• DJIA: -2.9% YTD
• Nasdaq Composite: -4.0% YTD

Reviewing today's data:

• January Housing Starts 1.487 mln (Briefing.com consensus 1.340 mln); Prior was revised to 1.387 mln from 1.404 mln, January Building Permits 1.376 mln (Briefing.com consensus 1.392 mln); Prior was revised to 1.455 mln from 1.448 mln
  • The key takeaway from the report is that it beat expectations thanks to strong growth in multi-unit starts while single-unit housing starts were down 2.8% month-over-month.
• January Trade Balance -$54.5 bln (Briefing.com consensus -$67.9 bln); Prior was revised to -$72.9 bln from -$70.3 bln
  • The key takeaway from the report is that the monthly trade deficit returned to the $50 billion range, which has been a familiar zone since last year's implementation of tariffs.
• Weekly Initial Claims 213K (Briefing.com consensus 215K); Prior was revised to 214K from 213K, Weekly Continuing Claims 1.850 mln; Prior was revised to 1.871 mln from 1.868 mln
  • The key takeaway from the report is that claims remain just above the 200,000 mark, reflecting a low-firing environment.

Overseas:

• Europe: DAX -0.3%, FTSE -0.5%, CAC -0.7%
• Asia: Nikkei -1.0%, Hang Seng -0.7%, Shanghai -0.1%

Commodities:

• Crude Oil +8.84 @ 95.72
• Nat Gas +0.04 @ 3.25
• Gold -53.40 @ 5126.00
• Silver -0.47 @ 85.08
• Copper -0.02 @ 5.87

After-Hours Spotlight:

• Adobe (ADBE) beats by $0.19, beats on revs; guides Q2 EPS above consensus, revs above consensus; CEO to transition from his position after a successor has been appointed...ADBE -7.2%
• EverCommerce (EVCM) misses by $0.02, reports revs in-line; guides Q1 revs below consensus; guides FY26 revs in-line...EVCM -17.8%
• KinderCare Learning Companies (KLC) beats by $0.03, reports revs in-line; guides FY26 EPS below consensus, revs below consensus...KLC -22.6%
• Lennar (LEN) misses by $0.02, misses on revs...LEN -0.6%
• Mission Produce (AVO) beats by $0.03, misses on revs...AVO -4.1%
• PagerDuty (PD) beats by $0.05, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY27 EPS above consensus, revs below consensus...PD -15.4%
• Rubrik (RBRK) beats by $0.15, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY27 EPS above consensus, revs above consensus...RBRK +2.8%
• SentinelOne (S) beats by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs in-line; guides FY27 EPS above consensus, revs in-line...S -3.8%
• ServiceTitan (TTAN) beats by $0.09, beats on revs; guides Q1 revs above consensus; guides FY27 revs above consensus...TTAN -7.5%
• Silvaco Group (SVCO) beats by $0.09, beats on revs; guides Q1 revs in-line...SVCO +19.7%
• Ulta Beauty (ULTA) misses by $0.09, beats on revs; comp sales +5.8%; guides FY27 EPS below consensus, revs in-line...ULTA -7.6%
• Wheaton Precious Metals (WPM) beats by $0.14, beats on revs...WPM +0.8%
• Zumiez (ZUMZ) beats by $0.08, reports revs in-line; guides Q1 EPS below estimate, revs above estimate; authorizes new $40 mln share repurchase program...ZUMZ -5.9%

Fair Value for Friday, March 13:

• S&P 500: 6,677
• Nasdaq 100: 24,544
• DJIA: 46,716

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

• Earnings/Guidance (Full Earnings Calendar):
  • Alliance Laundry Systems (ALH) beats by $0.01, beats on revs; guides FY26 revs in-line
  • Bumble (BMBL) reports Q4 (Dec) results, beats on revs; guides Q1 revs in-line
  • CECO Environ. (CECO) provides update on FY26 orders and Thermon transaction
  • Daimler Truck Holding AG (DTRUY) reports FY25 results
  • Descartes (DSGX) beats by $0.03, beats on revs; Completes acquisition of OrderMine
  • Dick's Sporting Goods (DKS) beats by $0.43, beats on revs, Consolidated proforma comparable sales of +0.8%; guides FY27 EPS below consensus, revs in-line; Authorizes a 3% increase in annualized dividend
  • Dollar General (DG) beats by $0.27, reports revs in-line; guides FY EPS in-line, revs in-line
  • EPAM Systems (EPAM) reaffirms Q1 and FY26 guidance at Investor Day
  • G-III Apparel (GIII) reports Q4 (Jan) results, misses on revs; guides Q1 revs above two analyst estimate; guides FY27 revs in-line
  • Guardian Pharmacy Services (GRDN) beats by $0.10, beats on revs; reaffirms FY26 revs guidance
  • HighPeak Energy (HPK) misses by $0.17, misses on revs
  • Honda Motor (HMC) notice concerning recording of losses associated with the reassessment of automobile electrification strategy and revision on forecast for consolidated financial results for the fiscal year ending March 31, 2026
  • Netskope (NTSK) beats by $0.02, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY27 EPS below consensus, revs above consensus
  • Ollie’s Bargain Outlet (OLLI) reports EPS in-line, revs in-line; guides FY27 EPS in-line, revs in-line
  • Li Auto (LI) beats by RMB0.04, misses on revs; guides Q1 revs below consensus
  • Petco Health and Wellness (WOOF) misses by $0.03, reports revs in-line, comps -1.6%; guides Q1 revs in-line; guides FY27 revs in-line
  • Pharming Group N.V. (PHAR) beats on top and bottom lines
  • ProFrac Holding (ACDC) reports Q4 results; beats on revs
  • PROG Holdings (PRG) recaps Investor Day with Three-year CAGR targets
  • Stitch Fix (SFIX) beats by $0.03, beats on revs; guides Q3 revs below consensus; guides FY26 revs in-line
  • TIC Solutions, Inc. (TIC) reports Q4 (Dec) results, misses on revs; guides FY26 revs in-line
  • UiPath (PATH) beats by $0.04, beats on revs; guides Q1 revs above consensus; guides FY27 revs above consensus; Announces new stock repurchase program for up to $500 mln of common stock
  • Vulcan Materials (VMC) to outline new growth and profitability targets at 2026 investor day
• General News
  • Law enforcement officials downplay the threat of Iranian drone attacks on California, according to CBS News
  • Iran is stepping up efforts to halt traffic through the Strait of Hormuz after three commercial ships were struck, according to WSJ
  • Satellite images show bomb damage to Iran's Taleghan 2 nuclear site, according to WSJ
  • Secretary of Energy Chris Wright CNBC interview: Navy escorts in the Strait of Hormuz are "quite likely" by the end of the month, but it can't happen now because military assets are focusing on destroying Iran's capabilitie
  • USTR initiates section 301 investigations relating to structural excess capacity and production in manufacturing sectors (Note: these investigations could result in tariffs on specific countries to replace IEEA tariffs)
  • Ships were ordered to leave the Mina Al Fahal oil terminal in Oman, according to Bloomberg
  • U.S. releases 172 mln barrels of oil from strategic petroleum reserve as part of IEA release that was announced yesterday
  • The Pentagon is recruiting bankers for an economic defense unit, according to Semafor
  • The Iran war could shift stock market leadership, Barron's
  • Packaged water makers are seeing impacts from Iran war, according to Reuters
  • President Trump tells CNBC that U.S. is not leaving Iran until job is finished
  • Half of charter fleet stuck in Gulf amid soaring demand, according to WSJ
  • Iran’s security chief, Ali Larijani says Iran war will not end soon, according to WSJ
  • Energy Department announces $1.9 bln investment in critical grid infrastructure to reduce electricity costs
  • Treasury Secretary Scott Bessent in an interview says U.S. Navy or an international coalition will start escorting ships through the Strait of Hormuz as soon as it is militarily possible, according to Sky News
  • Accenture (ACN) announces an expansion of its strategic partnership with Google Cloud
  • Alkami Technology (ALKT) announces that Empower Federal Credit Union has selected MANTL's Onboarding & Account Opening Solution to modernize its retail and business account opening experience
  • AllianceBernstein (AB) reports that preliminary assets under management increased to $880 billion during February 2026 from $875 billion at the end of January
  • Amazon (AMZN) could soon lock its website from outside artificial intelligence agents, according to WSJ
  • American Resources Corp. (AREC) received a letter from the Nasdaq Stock Market stating that the Company has received an extension for Nasdaq Listing
  • Americas Silver (USAS) announces the discovery of seven new high-grade silver-copper-antimony veins and three new high-grade silver-lead veins at the Galena Complex
  • Angi Inc. (ANGI) appoints Julie Hoarau as Chief Financial Officer
  • Apple's (AAPL) foldable iPhone is expected to offer an iPad-style interface when unfolded, according to Bloomberg
  • Atlassian (TEAM) announces a restructuring impacting approximately 10% of the company's workforce; reaffirms FY26 guidance
  • Autoliv (ALV) & Yamaha Motor (YAMHF) introduce airbag for commuter scooter
  • Babcock & Wilcox Enterprises (BW): Wolfpack Research out short on BW, calls $2.4 bln deal with Applied Digital (APLD) overhyped, tied to opaque RILY-backed entity
  • BioMarin (BMRN) Presents new data on the positive impact of early treatment with VOXZOGO (vosoritide) on proportionality and arm span in children with achondroplasia at the 2026 American College of Medical Genetics and Genomics (ACMG) Annual Clinical Genetics Meeting
  • Blue Owl (OWL) still pursuing AI infrastructure deals, according to Business Insider
  • Blue Owl Capital told investors privately that loan sale had no hidden incentives, according to Bloomberg
  • Build-A-Bear Workshop (BBW) President and CEO Sharon Price John intends to retire effective June 11, 2026
  • Centrus Energy (LEU) partners with Palantir (PLTR) to drive cost savings and unlock operational efficiencies in major expansion of U.S. uranium enrichment capacity
  • CGI Group's (GIB) IP-embedded Strata Enterprise solution has been awarded Arum Approved System certification following an independent review by Arum Global
  • Charter Comm (CHTR): Spectrum announces the launch of Spectrum Internet, Mobile, TV and Voice services to more than 1,780 homes and small businesses in Gibson and Henderson counties
  • Costco (COST) sued by a customer over tariffs, according to WSJ
  • CrowdStrike (CRWD) and Perplexity announce a partnership to integrate the Falcon platform with Comet Enterprise
  • Deutsche Bank (DB) discloses private credit risks in annual report
  • Digi Intl (DGII) announces the launch of One Digi AI Discovery Engine
  • Ecopetrol (EC) releases statement on decision by the Attorney General's Office
  • Eldorado Gold (EGO) announces mailing of joint management information circular; provides leadership transition and board succession update
  • Eli Lilly (LLY) issues an open letter from Eli Lilly and Company warning of potential patient safety risks associated with tirzepatide compounded with vitamin B12
  • Exodus Movement (EXOD) and MoonPay announce that athletes selected in the X Games inaugural Summer Draft will receive signing bonuses paid in XO Cash ($XO), Exodus' new USD-backed stablecoin
  • Firefly Aerospace (FLY) successfully launches Alpha Flight 7 mission
  • Frequency Electronics (FEIM) announces contract awards valued at approximately $45 million
  • GXO Logistics (GXO) joins defense supply chain alliance to support UK military logistics modernization
  • Himalaya Shipping Ltd. (HSHP) entered into a new time charter agreement for the Mount Matterhorn for a period of 12 to 14 months
  • Huntington Ingalls (HII) announces that all five collective bargaining units at its Ingalls Shipbuilding division have ratified new collective bargaining agreements, securing an immediate 18% or higher base wage increase for union-represented shipbuilders
  • IBM (IBM) releases a new blueprint for quantum-centric supercomputing
  • Ibotta (IBTA) expands share repurchase authorization by $100 mln
  • Idaho Strategic Resources (IDR) has executed a long-term lease agreement for the Niagara copper-silver project located in Shoshone County, Idaho, within the Company’s district-scale Murray Gold Belt landholdings
  • IDT Corp (IDT): NRSInsights’ February 2026 retail same-store sales report
  • Immersion (IMMR) provides delayed reports update, postpones annual meeting
  • Insulet (PODD) presents study results for its fully closed-loop automated insulin delivery system
  • JFB Construction Holdings (JFB) announces update regarding 2-for-1 stock split
  • Joby Aviation (JOBY) has begun flight testing its first FAA-conforming aircraft for Type Inspection Authorization
  • JP Morgan (JPM) and UBS (UBS) eliminated prime brokerage ties with Infini Capital Management months ago, according to Bloomberg
  • KLA Corporation (KLAC) announces $7 bln buyback, raises dividend 21%, reaffirms outlook at Investor Day
  • Lands' End (LE) / WH Topco d/b/a WHP Global transaction granted FTC early termination
  • Lightwave Logic (LWLG) signs development agreement with Tower Semiconductor (TSEM) to enable high-speed optical modulators on Tower's PH18 silicon photonics platform
  • Linde plc (LIN): Production of helium has been disrupted due to Iran war, according to NY Times
  • Lithium Argentina (LAR) expands Cauchari-Olaroz resource estimate; supports stage 2 development plan
  • Live Nation (LYV) executives bragged about high fees, according to Bloomberg
  • Lucid (LCID) details upcoming midsize platform and announces new recurring revenue streams, outlining a disciplined path to profitable scale
  • lululemon athletica (LULU) founder Chip Wilson wants Board overhaul, according to Bloomberg
  • Marvell (MRVL) announces a major expansion of its 1.6T optical DSP platform portfolio, advancing the industry’s transition from 800G into 1.6T next-generation AI data center connectivity
  • Marvell (MRVL) to showcase industry-leading, end-to-end connectivity solutions for AI data center infrastructure at OFC 2026
  • Meta Platforms (META) introduces new Meta AI-powered features on Facebook Marketplace that make selling items faster and simpler
  • Morgan Stanley (MS) and Cliffwater capping withdrawals from private credit funds, according to Bloomberg
  • Navitas Semiconductor (NVTS) appoints Tonya Stevens as CFO, effective March 30
  • Netflix (NFLX) could pay $600 mln for Ben Affleck's AI firm, according to Bloomberg
  • Netflix (NFLX) cuts dozens of staff in global product team reorganization, according to Variety
  • Nintendo (NTDOY): Pokémon Pokopia for Nintendo Switch 2 tops 2.2 mln units globally in first four days, including 1 mln in Japan
  • Norsk Hydro (NHYDY) and Hydro JV Qatalum is maintaining scaled down aluminium production
  • Ormat Tech (ORA) announces the commencement of commercial operations at the Shirk energy storage facility, an 80MW/320MWh Battery Energy Storage System located in Visalia, California
  • Palantir Technologies (PLTR) & NVIDIA (NVDA) team to deliver sovereign AI operating system reference architecture
  • Palantir Technologies (PLTR) Partners with Ondas (ONDS) and world view to advance next generation multi-domain intelligence platform
  • Palo Alto Networks (PANW) approves $1 bln increase to its share repurchase authorization
  • Peloton (PTON) appoints Saqib Baig as interim CFO, effective March 27, 2026
  • Qnity Electronics expands domestic manufacturing footprint with the opening of its new facility
  • Rio Tinto (RIO) and Prysmian have partnered on an industrial trial to produce low-carbon aluminium cables designed for the rapidly growing data centre market, combining leading-edge smelting and cable technologies to help customers reduce the carbon footprint of critical IT infrastructure
  • Rivian (RIVN) introduces R2 lineup, sharing full trims and pricing
  • Stellantis (STLA) explores Chinese investment in European operations, holds talks with Xiaomi (XIACF) and XPeng (XPEV) over potential stakes and capacity access, according to Bloomberg
  • Stratus Properties (STRS) announces that its Board of Directors has concluded its strategic alternatives review announced in December 2025
  • Surf Air Mobility (SRFM) and BETA Technologies (BETA) announce an Aircraft Purchase Agreement and strategic partnership intended to accelerate the introduction of safe, reliable, and profitable advanced air mobility solutions
  • Target (TGT) shopper boycott over DEI is declining, according to WSJ
  • TAT Technologies (TATT) secures $36 mln APU MRO contract with a leading global cargo carrier
  • TE Connectivity (TEL) authorizes a $3.0 bln share repurchase program and increases its quarterly dividend by 10% to $0.78/share
  • Tesla (TSLA) Cybercab rolled off the production line last month, according to WSJ
  • Tesla (TSLA) expands reach to the UK, supplying households and businesses with electricity; according to FT
  • Tetra Tech (TTEK) joint venture awarded $99 mln U.S. Navy A-E services contract
  • TotalEnergies SE (TTE) announces the start-up of the Lapa South-West project
  • TotalEnergies SE (TTE) provides update on current status of Totalenergies exposure in the Middle-East
  • Trinity Capital (TRIN) announces the commitment of $35 mln in growth capital to Monteris Medical, a MedTech company specializing in minimally invasive neurosurgical technology
  • Uber (UBER) partners with Wayve and Nissan Motor (NSANY) on robotaxi pilot in Tokyo
  • Uber (UBER) introduces Uber Elite luxury ride experience, designed for executives, frequent travelers, and riders looking for a more elevated experience
  • UL Solutions Inc. (ULS) announces that it has granted its first safety certification for a robot designed to operate in public environments to Simbe’s Tally, an autonomous shelf-scanning robot
  • UL Solutions Inc. (ULS) announces the first certifications for products powered by artificial intelligence under its AI safety certification program, marking a key milestone in independently confirming trustworthy AI for complex, mission-critical environments
  • United Therapeutics Corporation (UTHR) reports full results of TETON-2 Phase 3 Clinical Trial published in The New England Journal of Medicine
  • Victory Capital (VCTR) reports total AUM of $324 billion, other assets of $3.1 billion, and total client assets of $327.1 billion, as of February 28
  • Voyager Technologies (VOYG) announces a new facility in Long Beach, California – widely known as “Space Beach” – to expand the company’s ability to capture the significant demand signal across civil, national security and commercial space missions
  • Walt Disney (DIS) names Paul Roeder Senior Executive Vice President and Chief Communications Officer effective March 19
  • Warner Bros. Discovery (WBD): The International Brotherhood of Teamsters wants DOJ to block Paramount (PSKY) merger with Warner Brothers (WBD)

• Upgrades:
  • Aptiv (APTV) upgraded to Buy from Neutral at UBS, tgt $97
    
  • Bumble (BMBL) upgraded to Neutral from Underweight at JPMorgan
    
  • Crocs (CROX) upgraded to Hold from Sell at Williams Trading, tgt $84
    
  • Dow Inc. (DOW) upgraded to Buy from Neutral at Citigroup, tgt $40
    
  • Kinross Gold (KGC) upgraded to Outperform from Sector Perform at RBC Capital, tgt $45
    
  • LyondellBasell (LYB) upgraded to Buy from Neutral at Citigroup, tgt $76
    
  • Murphy Oil (MUR) upgraded to Overweight from Neutral at Piper Sandler, tgt $41
    
  • Neste (NTOIY) upgraded to Outperform from Sector Perform at RBC Capital
    
  • Nutrien (NTR) upgraded to Buy from Hold at Jefferies, tgt $96
    
  • Occidental Petroleum (OXY) upgraded to Overweight from Underweight at Wells Fargo, tgt $69
    
  • Occidental Petroleum (OXY) upgraded to Overweight from Neutral at Piper Sandler, tgt $66
    
  • Pampa Energia (PAM) upgraded to Buy from Hold at HSBC, tgt $97
    
  • Petco Health & Wellness (WOOF) upgraded to Buy from Hold at Jefferies, tgt $5
    
  • Repsol (REPYY) upgraded to Outperform from Underperform at RBC Capital
    
  • Rentokil Initial (RTO) upgraded to Buy from Neutral at UBS
    
  • Ryanair (RYAAY) upgraded to Outperform from In Line at Evercore ISI, tgt $80
    
  • SSR Mining (SSRM) upgraded to Outperformer from Neutral at CIBC, tgt $48
    
  • Target Hospitality (TH) upgraded to Buy from Hold at Texas Capital, tgt $12
    
  • TPG RE Finance Trust (TRTX) upgraded to Outperform from Market Perform at Citizens, tgt $10
    
  • UiPath (PATH) upgraded to Buy from Hold at Needham, tgt $15
• Downgrades:
  • Campbell Soup (CPB) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $20
    
  • Conagra Brands (CAG) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $15
    
  • Farmland Partners (FPI) downgraded to Market Perform from Outperform at Raymond James
    
  • General Mills (GIS) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $35
    
  • Generac (GNRC) downgraded to Neutral from Buy at Citigroup, tgt $237
    
  • MercadoLibre (MELI) downgraded to Neutral from Overweight at JPMorgan, tgt $2,100
    
  • North American Construction Group (NOA) downgraded to Market Perform at BMO Capital
    
  • Sandvik (SDVKY) downgraded to Equal Weight from Overweight at Morgan Stanley
    
  • Scorpio Tankers (STNG) downgraded to Hold from Buy at DNB Carnegie, tgt $76
    
  • Telefonica Brasil (VIV) downgraded to Equal Weight from Overweight at Barclays, tgt $16
    
  • Vale (VALE) downgraded to Sector Perform from Outperform at RBC Capital, tgt $15.50
    
  • Wealthfront Corporation (WLTH) downgraded to Market Perform from Outperform at Keefe Bruyette, tgt $9.50
• Others:
  • Arista Networks (ANET) initiated with a Buy at TD Cowen, tgt $170
    
  • ArriVent BioPharma (AVBP) assumed with a Buy at BTIG Research, tgt $42
    
  • Ascentage Pharma (AAPG) initiated with a Buy at BTIG Research, tgt $48
    
  • BWX Technologies (BWXT) initiated with a Buy at TD Securities, tgt $230
    
  • Ciena (CIEN) initiated with a Buy at TD Cowen, tgt $425
    
  • Coherent (COHR) initiated with a Buy at TD Cowen, tgt $330
    
  • Customers Bancorp (CUBI) assumed with an Overweight at Piper Sandler, tgt $82
    
  • Enovix (ENVX) initiated with a Neutral at BofA Securities, tgt $6
    
  • Flex (FLEX) initiated with an Outperform at Robert W. Baird, tgt $70
    
  • GoDaddy (GDDY) assumed with a Neutral at Piper Sandler, tgt $93
    
  • ImmunityBio (IBRX) assumed with a Buy at BTIG Research, tgt $13
    
  • Innate Pharma (IPHA) assumed with a Buy at BTIG Research, tgt $8
    
  • Jabil (JBL) initiated with an Outperform at Robert W. Baird, tgt $275
    
  • Lear (LEA) initiated with a Sector Perform at RBC Capital, tgt $135
    
  • Life Time Group Holdings (LTH) initiated with an Overweight at KeyBanc, tgt $40
    
  • Lumentum (LITE) initiated with a Hold at TD Cowen, tgt $675
    
  • Pathward Financial (CASH) assumed with an Overweight at Piper Sandler, tgt $107
    
  • Planet Fitness (PLNT) initiated with an Overweight at KeyBanc, tgt $100
    
  • Prime Medicine (PRME) initiated with an Outperform at Oppenheimer, tgt $11
    
  • Rush Street Interactive (RSI) initiated with a Buy at Freedom Capital, tgt $25
    
  • Shopify (SHOP) assumed with an Overweight at Piper Sandler, tgt $165
    
  • The Bancorp (TBBK) assumed with an Overweight at Piper Sandler, tgt $66
    
  • Verastem (VSTM) assumed with a Buy at BTIG Research, tgt $19
    
  • vTv Therapeutics (VTVT) initiated with an Outperform at Evercore ISI, tgt $44
    
  • Wix.com (WIX) assumed with a Neutral at Piper Sandler, tgt $98
    
  • Xponential Fitness (XPOF) initiated with a Sector Weight at KeyBanc

• Econ Data (Friday):
  • 8:30 ET: January Personal Income (Briefing.com consensus 0.4%; prior 0.3%), Personal Spending (Briefing.com consensus 0.2%; prior 0.4%), PCE Prices (Briefing.com consensus 0.3%; prior 0.4%), Core PCE Prices (Briefing.com consensus 0.4%; prior 0.4%), Q4 GDP -- second estimate (Briefing.com consensus 1.4%; prior 1.4%), Q4 GDP Deflator -- second estimate (Briefing.com consensus 3.7%; prior 3.6%), January Durable Orders (Briefing.com consensus 0.7%; prior -1.4%), and Durable Orders -ex transportation (Briefing.com consensus 0.5%; prior 0.9%)
  • 10:00 ET: January job openings (prior 6.542 mln) and preliminary March University of Michigan Consumer Sentiment (Briefing.com consensus 55.7; prior 56.6)

• Earnings:
  • Monday (March 9)
    • Pre-Market: BETA  KFY
    • After-Hours: CASY HPE LFMD RPAY MTN VOYG YEXT
      
    Tuesday (March 10)
    • Pre-Market: ABM BNTX KSS LEGN NIO STGW UNFI
    • After-Hours: AVAV CTOS FNV ORCL
      
  • Wednesday (March 11)
    • Pre-Market: CPB CXM
      
    • After-Hours: BMBL CDRE DSGX GRDN HPK NTSK WOOF SFIX PATH
  • Thursday (March 12)
    • Pre-Market: ALH DKS DG GIII LI OLLI SNBR TIC
    • After-Hours: ADBE EVCM GDOT KLC LEN AVO PD RBRK S TTAN SVCO ULTA WPM ZUMZ
  • Friday (March 13)
    • Pre-Market: BKE
    • After-Hours: None