𒈔Equity Indexes Wrap: Big Tech Slips as Diamondback Deal Lifts Energy

The Dow

Nike (NKE) led the index, rising 2.6%.

Industrials outperformed, with 3M (MMM) rising 1.9%, Dow (DOW) gaining 1.5%, and Caterpillar (CAT) adding 1.4%. 

Amgen (AMGN) shares rose 1.1%, snapping a six-day losing💃 streak. 

Coca-Cola (KO) inched up 0.3% ahead of 澳洲幸运5开奖号码历史查询:its earnings report tomorrow morning.

Tech trailed the index. Salesforce (CRM) and Microsoft (MSFT) both fell 1.3%, and Apple (AAPL) slid 0.9%. 

The S&P 500

VF Corp. (VFC) rose 13.9% after the Vans and Northও Face owner’s founding family threw its weight behind activist investor E✅ngaged Capital in its fight for a board shake-up. 

Enphase Energy (ENPH) added 5.3%, extending gains following last week’s 澳洲幸运5开奖号码历史查询:upbeat outlook. 

Paramount Global (PARA) ros𒊎e 4% as rumors swirled that Sunday’s Super Bowl, which aired on Paramount-owned CBS, attracted more than 120 million viewers. 

Lowe’s (LOW) gained 3.5% after being upgraded to “overweight” by analysts at JPMorgan, who cited𒐪 the potential benefits of this year’s rate ♔cuts. 

Nvidia (NVDA) rose 0.2% but gave up earlier gains that made it more valuable than Amazon, Americಞa’s fourth-most largest company.

Most big tech names lost ground. Broadcom (AVGO) fell 1.4%, while Amazon (AMZN) and Alphabet (GOOGL) lost 1%. 

AbbVie (ABBV) slipped 0.6% after lowering its current-quarter earnings outlook due to costs related to its 澳洲幸运5开奖号码历史查询:acquisition of ImmunoGen.

The Nasdaq 100

Diamondback Energy (FANG) soared 9.4% after 澳洲幸运5开奖号码历史查询:announcing it would merge with Endeavor Energy 🐟Resources to expand its operations in the Permian Basin. 

Airbnb (ABNB) gained 4.2% ahead of its quarterly earnings report aft♔er the bell tomorrow.&🦄nbsp;

PDD Holdings (PDD) rose 3.2% after making a splash during last night’s Super Bowl broadcast, for which it dished out millions of dollars to buy 澳洲幸运5开奖号码历史查询:multiple coveted ad spots. 

Gilead Sciences (GILD) ticked up 1.1% after announcing it would 澳洲幸运5开奖号码历史查询:buy CymaBay Therapeutics (CBAY) for $4.3 billion. CymaBay shares soared 25%.

Tesla (TSLA) fell 2.8% after announcing a temporary 澳洲幸运5开奖号码历史查询:$1,000 price cut to several Mode♛l Y vehicles, in yet♔ another sign of sluggish electric vehicle demand. 

What You Need to Know Ahead of Coca-Cola's Earnings Report Tomorrow

Coca-Cola Co. (KO) is expected to keep up the 澳洲幸运5开奖号码历史查询:momentum from the past quarter, when the beverage giant showed that consumers continue to buy ༺its dr𝔉inks despite inflation pushing prices higher.

Analysts project another quarter of growth for the soft drinks maker, both in the 澳洲幸运5开奖号码历史查询:top and bottom lines, whe😼n it reports earnings before Tuesday’s market open. 

According to data from Visible Alpha, analysts anticipate Coca-Cola's 2023 澳洲幸运5开奖号码历史查询:fourth-quarter net income will increase by nearly 𝓰10% to $2꧋.15 billion on revenue of $10.76 billion, a nearly 7% jump from the year-ago quarter.

The world’s 澳洲幸运5开奖号码历史查询:most valuable beverage company has been forecasting improved results after recent reports showed that higher prices were meaningfully affecting its sales. After stronger-than-expected sales in the 澳洲幸运5开奖号码历史查询:prior quarter, Coca-Cola raised its full-year guidance for EPS and lifted its full-year revenue foreca🌟st to 10% to 11% for 2024. 

-澳洲幸运5开奖号码历史查询:Terry Lane

Monday.com Learns Wall Street Is Getting Picky

Shares of Monday.com (MNDY) sank Monday after the enterprise softwa🔴re maker’s sales forecast disappointed Wall Street and overshadowed its better-than-expected fourth-quarter results. 

Monday.com reported adjusted earnings of $33.7 million, or 65 cents per share, compared with $22.2 million, or 44 cents per share, in the year-ago quarter. Revenue grew 35% to $202.6 million. Both profit and sales were higher than analysts had expected. 

For the first quarter of its 2024 fiscal year, Monday.com forecast revenue growth would decelerate slightly to between 28% and 30%. And full year-revenue growth is expected 🐻to fall somewhౠere between 27% and 28%, implying a further deceleration later in the year.

The prospect of slowing sales growth hit the stock🧸, which had risen more than 10% in the week leading up to the repo🃏rt. Monday.com shares were down about 11% at $209.76 late in the session on Monday. Still, they have gained more than 60% in the past twelve months.

CymaBay Therapeutics Stꦬock Jumps on $4.3 Bill🌳ion Acquisition

Shares of CymaBay Therapeutics (CBAY) soared to an all-time high Monday after Gilead Sciences (GILD) an🌜nounced it's buying the developer of medicine for liver and oဣther chronic diseases for $4.3 billion.

Gilead said Monday that it will pay $32.50 per share in cash for CymaBay, a 26.5% premium to CymaBay’s 澳洲幸运5开奖号码历史查询:closing price Friday.

CymaBay’s investigational lead product, seladelpar, is a treatment for primary biliary cholangitis (PBC), an autoimmune disease that affects the bile ductsඣ in the liver. It achieved statistical significance across i🎃ts primary endpoints in a Phase 3 trial. 

The transaction is expected to close this qua🦂rter.

CymaBay shares were up 25% at $32.10 Monday after the acq▨uisition was 𝓡announced. Shares of Gilead ticked up 0.9% to $74.36.

-澳洲幸运5开奖号码历史查询:Bill McColl

VF Corp Soars as Founding Family Supports Activist's Board Shake-Up

VF Corp (VFC) was the best-performing stoc🅰k in the S&P 500 Monday amid reports activist investors Engaged Capital had attained the support of founding family members in its efforts to shake up the Vans and North Face owner’s board. 

Kelley Barbey, a descendant of VF Corp. founder John Barbey, said family members with a cumulative stake of about 15%, would support Engaged Capital as it seeks to gain a seat on the apparel holding company’s board. 

Barbey also said the family supported removing two long-time board members—Clarence Otis and Juliana Chugg—who they blamed for failing to address the challenges that have led VF’s stock to l🌜ose more than 80% of its ꧑value in the last three years.

Engage💟d Capital first disclosed its 1.3% stake in the company in October 2023 and has since forced🌠 the company to consider non-core brands and cut costs. 

VF Corp. share🐭s surged more than 15% to $17.68 Monday afternoon. 

Midday Movers

VF Corporation (VFC) was the best-performing stock in the S&P 500 following a report the family that founded the firm supports 澳洲幸运5开奖号码历史查询:activist investor Engaged Capital in its effort to shake up the owner of North Face and Vans bꦐrands.

Shares of Diamondback Energy (FANG) soared after the oil producer announced it is buying൲ Endeavor Energy 💦Partners for $26 billion to expand its reach in the Permian Basin.

Lowe’s (LOW) s꧅hares gained as JPMorgan raised its rating on the stock, suggesting Fed interest rate cuts could help boost sales at the home improvement retailer. 𝓡;

Hershey (HSY) shares declined as Morgan Stanley cut its rating on the stock, writing the chocolate maker’s margins could be ౠhurt by falling consumer demand an𒉰d soaring cocoa prices.

A downgrade from Barclays sent shares of Rivian Automotive (RIVN) lower. The bank cited the slowing sales of eleꦯ🍨ctric vehicles (EVs). 

-澳洲幸运5开奖号码历史查询:Bill McColl

Bitcoin Soars Past $49K as ETF In💞flows Pick Up Pace

The price of Bitcoin surged Monday morning to nearly $50,000—its highes🔯t in more than 2 years. 

Bitcoin ETFs last week recorded their largest inflows since their debut last month. The funds raked in $1.1 billion, bringing their total inflows to $2.8 billion, according t🅠o digital asset manager CoinShares.

BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Bitcoin Fund (FBTC) were the biggest winners, with a combined $1.2 billion of inflows.

Nvidia Stock Rises, Market Value Passes Amazon

Nvidia (NVDA) leapfrogged Amazon (AMZN) to become America’s fourth-most valu🦋able company in e🐲arly trading Monday. 

Nvidia shares rose as much as 2.6% to a record high of $741 Monday morning, giving it a market cap of $1.83 tr♛illion. Meanwhile, Amazon stock slipped 0.6% to $173.36, reducing its market cap to $1.8 trillion. 

Nvidia shares have climbed relentlessly since OpenAI’s ChatGPT in late 2022 sparked a market rally, driven by big te𓂃ch companies that stood to gain from investments in artificial intelligence. No company has benefited more than Nvidia, a leading supplier of the advanced graphics processing units on which AI relies. Its stock has risen nearly 250% in the last year. 

With Monday’s gains, Nvidia closed in on the $2 trillion mark, a feat only three U.S. companies have achieved: Apple (AAPL), Microsoft (MSFT) and Alphabet (GOOGL). It also came closer to surpassing A♑lphabet, which on Monday had a market cap of about $1.849 trillion.ও 

Nvidia will report earnings on February 21 after markets ✤close. 

Diamondback Energy Stock Rises After Deal to Acquire E﷽ndeavor

Diamondback Energy (FANG) shares ros✤e more than 7% Monday morning to trade around $164 after the company announced plans for a merger with Endeavor Energy Resources, the latest in a string of big energy sector deals 🐻in recent months.

Under the transaction, which values Endeavor at about $26 billion, Diamondback shareholders will own about 60.5% of the combined company, while Endeavor's equity holders will own the remainder, the companies said in a press release early Monday. The combined company will be worth about $53 billion, based on Diamondback's current market capitalization.

Diamondback successfully held off larger players, including ConocoPhillips (COP), according to The Wall Street Journal, which first reported on Sunday that a deal was in the works. Endeavor, a private energy company founded by wildcat billionaire Autry Stephens, has an operation that stretches over 350,000 acres in the Midland section of the Permian Basin, located in 澳洲幸运5开奖号码历史查询:West Texas.

Diamondback shares have traded within a textbook 澳洲幸运5开奖号码历史查询:ascending triangle since early June 2022, indicating a continuation of the longer-term uptrend upon a breakout. Interestingly, share turnover has decreased in recent weeks as the price consolidates toward the triangle’s apex. In upcoming trading sessions, keep an eye out for volume-back 澳洲幸运5开奖号码历史查询:breakouts on eithe💮r side of the pattern for꧙ clues on the stock’s future price direction.

-澳洲幸运5开奖号码历史查询:Timothy Smith

Stocks Making the Biggest Moves Premarket

Gains:

• Joby Aviation Inc. (JOBY) Shares of the electric aircraft developer added 6% after it said it had signed an agreement with Dubai to launch air taxi services in the city by early 2026. 
• Arista Networks Inc. (ANET): Shares of the cloud networking company rose 4% in anticipation of its quarterly earnings report after the bell. 
• New York Community Bancorp (NYCB): The regional bank, which 澳洲幸运5开奖号码历史查询:last week had its debt downgraded to junk status by Moody’s, gained 3%, adding to Friday’s rebound after regulatory filings showed executives piled into the battered stock. 
  

Losses:

• Monday.com Ltd. (MNDY): Shares of the enterprise software maker tumbled 12% after it topped earnings expectations but offered current-quarter revenue guidance that was just in line with estimates. 
• Trimble Inc. (TRMB): Shares of the positioning technology company fell nearly 5% after its full-year earnings and sales guidance came up short of Wall Street’s expectations. 
• Citigroup Inc. (C): Shares fell more than 1% after federal regulators ordered the bank to make changes to its risk management procedures.

Stock Futures Little Changed Ahead of ဣFresh Inflation Data

Futures contracts connected🎶 to the Dow Jones Industrial Average were down about 0.1% in premarket trad🤪ing on Monday.

S&P 500 contracts were unchanged.

Nasdaq 100 cont🐈racts were up l🎀ess than 0.1% about an hour before markets opened.