This worked and smacked to target before coming down. @unusual_whales flow for the win. $AEO

Market Updates: 🔸 American Eagle ( $AEO) adds 50M shares to buyback; Q4 revs $1.6B (est. $1.6B); Q1 off to slow start; sees FY25 revs declining low-single digits (est. +2.97%). 🔸 Calavo Growers ( $CVGW) Q1 adj. EPS $0.33 (est. $0.29); revs +21% y/y to $154.39M (est. $161.55M); says Mexico tariffs won’t significantly impact operations. 🔸 Tesla ( $TSLA) partners with Baidu ( $BIDU) to enhance ADAS in China (Reuters). 🔸 Adobe ( $ADBE) Q1 adj. EPS $5.08 (est. $4.97), revs $5.71B (est. $5.66B); reaffirms FY25 targets; Q2 revs guidance $5.77B-$5.82B (est. $5.8B). 🔸 Intel ( $INTC) appoints Lip-Bu Tan as CEO, replacing interim co-CEOs. 🔸 SentinelOne ( $S) Q4 EPS (-$0.22) (est. -$0.21); revs +29% y/y to $225.5M (est. $222.33M); FY26 revs guidance $1.007B-$1.012B (est. $1.03B). 🔸 UiPath ( $PATH) Q4 adj. EPS $0.26 (est. $0.20); revs +4.5% y/y to $423.6M (est. $424.9M); Q1 revs guidance $330M-$335M (est. $367.4M). 🔸 Marvell ( $MRVL) files mixed securities shelf. 🔸 Microsoft ( $MSFT) upgraded to Buy from Neutral at DA Davidson. 🔸 Phreesia ( $PHR) Q4 EPS (-$0.11) (est. $0.11); revs $109.7M (est. $108.9M); maintains FY26 revs $472M-$482M, adj. EBITDA outlook. 🔸 Dentsply Sirona ( $XRAY) downgraded to Hold from Buy at Needham. 🔸 Berry ( $BRY) Q4 adj. EPS $0.21 (est. $0.15), revs $187.79M (est. $173M); Q4 production +5% QoQ, +1% YoY; FY25 production 24.8-26 MBoe/d (93% oil); capex $110M-$120M. 🔸 Cummins ( $CMI), Paccar (PCAR) shares down as EPA moves to reverse EV rules; Jefferies sees downside risk if 2027 prebuy doesn’t happen. 🔸 Freight Car ( $RAIL) Q4 revs $137.7M (est. $152.02M); sees FY25 railcar deliveries 4,500-4,900, revs $530M-$595M; Q4 gross margin 15.3% (vs. 9.6% y/y). 🔸 Murphy Oil ( $MUR) acquires FPSO vessels in Gulf of Mexico; cuts annual costs by $60M, reaffirms 2025 capex. 🔸 Sunnova ( $NOVA) exploring restructuring, possible bankruptcy; holds $8.5B in debt (WSJ).

MORNING RECAP • $ASO announces a $700M share buyback. • $AEO Q3 EPS $0.48 vs. $0.46 est., rev down -0.9% to $1.29B; cuts annual sales growth forecast to 3%, expects Q4 comp sales +1%, total rev -4%. • $CHPT Q3 loss (-$0.18) vs. est. (-$0.09), rev -10% to $99.6M; Q4 rev guidance $95M-$105M. Networked charging systems down -29%, subscription rev up +19%. • $COST November comp sales +3.1%, net sales +5.6% to $21.87B; Q1 sales +7.5% to $60.99B. • $FIVE Q3 EPS $0.42 vs. $0.17 est., sales +15% to $843.7M; Q4 sales guide $1.35B-$1.38B, comp sales expected to decline. • $PVH Q3 adj EPS $3.03 vs. $2.59 est., rev $2.26B vs. $2.22B; Q4 rev expected -7% to -6%, EPS $3.05-$3.20. • $PG now sources Gillette razor steel from India to mitigate potential Trump tariffs. • $AVAV Q2 rev $188.5M vs. $182.9M est.; adj EBITDA $25.9M vs. $31.7M est.; maintains FY25 EPS $3.18-$3.49, revenue $790M-$820M. • $APD: Mantle Ridge now nominates only four for the board, down from nine. • $CULP Q2 adj op income ($2.6M) vs. ($3.589M) est., sales $55.7M vs. $58M est.; expects flat to slightly down Q3 sales, positive EBITDA in 2H, profitable by Q4. • $GEF Q4 EPS $1.08 vs. $1.10 est.; rev up 8.3% to $1.42B, adj EBITDA down 0.8% to $197.6M; FY25 adj EBITDA expected at $675M low-end. • $LUV boosts Q4 revenue per seat mile forecast to 5.5%-7% from 3.5%-5.5%, due to pricing and travel demand. • $FI stock falls as CEO Frank Bisignano is nominated by Trump to lead the SSA. • $FOUR downgraded to Hold from Buy after CEO Jared Isaacman is chosen by Trump to head NASA. • $HOOD plans Asia expansion, setting up in Singapore. NYPD seeks man who killed UnitedHealth $UNH executive Brian Thompson outside a Manhattan hotel, suspect fled into Central Park. TSM discussing with $NVDA to manufacture AI chips in Arizona. • $AMAT downgraded to Underweight at Morgan Stanley due to memory market concerns. • $HPE upgraded to Overweight, target price raised post-Juniper acquisition. • $NCNO Q3 adj EPS $0.21 vs $0.16 est., Q4 rev guidance below estimates. • $OOMA Q3 EPS $0.17 vs $0.16 est., raised yearly outlook. • $S Q3 EPS loss ($0.25) vs $0.01 est., slightly beat on revenue for Q4 and year. • $SNPS Q4 adj EPS $3.40 vs $3.30 est., Q1 guidance below expectations. • $VRNT Q3 EPS $0.54 vs $0.43 est., strong SaaS growth, FY25 revenue guidance up. • $DIS increases dividend to $1.00 per share. • $SMTC launches $400M stock offering.

#Downgrades - Dec 05, 2024 • $ABBV: Daiwa Securities Downgrades to Neutral from Buy - PT $180 • $AEO: JPMorgan Downgrades to Neutral from Overweight - PT $23 (from $27) • $ALLY: Wolfe Research Downgrades to Peerperform from Outperform • $AMAT: Morgan Stanley Downgrades to Underweight from Equalweight - PT $164 (from $179) • $CHWY: BNP Paribas Downgrades to Neutral from Outperform - PT $30 • $CNX: JPMorgan Downgrades to Underweight from Neutral - PT $37 (from $31) • $DVN: JPMorgan Downgrades to Neutral from Overweight - PT $191 • $F: Wolfe Research Downgrades to Underperform from Peerperform • $FOUR: Benchmark Downgrades to Hold from Buy • $FWONA: Seaport Global Securities Downgrades to Neutral from Buy • $GRAB: HSBC Downgrades to Hold from Buy - PT $5.50 (from $4.25) • $MRVI : Goldman Sachs Downgrades to Sell from Neutral - PT $4.25 (from $7) • $NAUT: Goldman Sachs Downgrades to Sell from Neutral - PT $1.75 (from $2.25) • $NCNO: Piper Sandler Downgrades to Neutral from Overweight - PT $38 • $OTIS: Barclays Downgrades to Underweight from Equalweight - PT $94 • $PB: Wolfe Research Downgrades to Peerperform from Outperform • $PFG: Morgan Stanley Downgrades to Underweight from Equalweight - PT $80 (from $86) • $RLMD: Mizuho Downgrades to Neutral from Outperform - PT $1 (from $23) • $ROP: Barclays Downgrades to Underweight from Overweight - PT $569 (from $625) • $SBRA: Mizuho Downgrades to Neutral from Outperform - PT $20 • $SM: JPMorgan Downgrades to Neutral from Overweight - PT $16 (from $15) • $VCYT: Goldman Sachs Downgrades to Neutral from Buy - PT $37 (from $38)