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1. STOCK NEWS:
- Pfizer (PFE) reiterated its FY24 earnings and revenue guidance and provided its outlook for FY25
- In his cost-cutting role for the upcoming administration, Elon Musk is targeting a costly fleet of Lockheed Martin’s (LMT) F-35 fighter jets, FT reports
- McCormick (MCK) is in talks to acquire condiment maker Sauer Brands, Bloomberg reports
- The White House will provide a $15B low-interest loan to PG&E (PCG), WSJ reports
- A breach has exposed a “small portion” of Cisco (CSCO) data, CyberDaily reports
2. WALL STREET CALLS:
- Tesla (TSLA) upgraded at Mizuho on improving outlook under Trump administration
- Morgan Stanley upgraded Quest Diagnostics (DGX) to Overweight
- Jefferies downgraded Match Group (MTCH) to Hold
- Loop Capital downgraded Honest Company (HNST) to Hold
- Barclays downgraded Marqeta (MQ) to Equal Weight
3. AROUND THE WEB:
- The majority of the staff of the Senate Committee on Health recently published an investigation that found Amazon (AMZN) had documented the link between its quotas and elevated injury rates, NY Times reports
- Qualcomm (QCOM) and Arm‘s (ARM) legal feud over the licensing of chip design is heading to trial, FT says
- A London judge has dismissed Barclays’ (BCS) appeal over its car loan practices, Bloomberg reports
- President-elect Donald Trump held a wide-ranging news conference on Monday, providing some assurances on Sanofi’s (SNY) polio vaccine, AP reports
- Alibaba (BABA) has agreed to sell its Intime department store business to Youngor Fashion for around $1B, Bloomberg reports
4. MOVERS:
- Shoals Technologies (SHLS) higher after Morgan Stanley upgraded the stock to Overweight
- Quantum Computing (QUBT) gains after being awarded a prime contract by NASA
- SolarEdge (SEDG) increases in New York after Goldman Sachs upgraded the stock to Buy
- EVgo (EVGO) lower after announcing a 23M share offering
- VersaBank (VBNK) falls in New York after announcing a 5.66M share offering
5. EARNINGS/GUIDANCE:
- Nucor (NUE) provided guidance for Q4
- Mama’s Creations (MAMA) reported Q3 results, with CEO Adam Michaels commenting the company is “well positioned for profitable growth”
- Red Cat (RCAT) reported Q2 results, with EPS and revenue missing consensus
- Mitek Systems (MITK) reported Q4 results and provided guidance for FY25
- eHealth (EHTH) raised its revenue guidance for FY24
INDEXES:
Near midday, the Dow was down 0.55%, or 239.40, to 43,478.08, the Nasdaq was down 0.16%, or 32.61, to 20,141.28, and the S&P 500 was down 0.30%, or 18.10, to 6,055.98.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
