SECTOR NEWS HIGHLIGHTS TECH/MEDIA/TELECOM: 🔸 Netflix ( $NFLX): Beats Q1 earnings; strong Q2 guidance. 🔸 Nvidia ( $NVDA): Down 3% on Huawei AI chip shipment news. 🔸 Cognizant ( $CTSH)/DocuSign ( $DOCU): Expand partnership. 🔸 Disney ( $DIS): Upgraded to Outperform at Wolfe Research; $112 target. 🔸 Tempus AI ( $TEM): Initiated with Buy at BTIG; $60 target. CONSUMER: 🔸 Amazon ( $AMZN): Downgraded at Raymond James; price target cut to $195 from $275. 🔸 QXO: Extends $124.35/share tender offer for Beacon Roofing (BECN). 🔸 Tesla ( $TSLA): Affordable car launch delayed; low-cost Model Y production to begin in U.S. ENERGY/INDUSTRIALS/MATERIALS: 🔸 Boeing ( $BA): Returning rejected 737 Max jets from China to U.S. 🔸 Cosco Shipping: Warns U.S. tariffs on Chinese ships threaten global trade. 🔸 EU: Eases methane rules to avoid gas-related trade clash with U.S. FINANCIALS: 🔸 Capital One ( $COF): Gets approval to acquire Discover (DFS), becoming top U.S. credit card lender. 🔸 Comerica ( $CMA): Beats Q1 estimates; EPS $1.25 vs est. $1.18. 🔸 Global Payments ( $GPN): Downgraded at Jefferies; target cut to $75. 🔸 Independent Bank ( $INDB): Misses Q1 EPS; raises dividend by 4%. HEALTHCARE: 🔸 Pacira ( $PCRX): Approves $300M stock buyback. 🔸 Regeneron ( $REGN)/Sanofi (SNY): FDA approves Dupixent for chronic hives in patients 12+.

MORNING BID 🔸 QXO ( $QXO) is in talks to buy Beacon Roofing Supply (BECN) for $11B ($124.35/share in cash). 🔸 Uber ( $UBER) & Lyft ( $LYFT) dominate North American ride-hailing, but Bolt aims to challenge them, per The Information. 🔸 Xpeng ( $XPEV) plans to mass-produce its modular flying car by 2026, said Chairman He Xiaopeng. 🔸 Yum China ( $YUM) appointed Adrian Ding as CFO, removing his interim title after a search following Andy Yeung’s resignation. 🔸 Franco-Nevada ( $FNV) Q4 adj. EPS $0.95 (est. $0.89), revenue $321M (+6% y/y, est. $304.44M); expects 2025 revenue to rise 25%+ with gold at $2,800/oz. Upgrades: 🔸 Grainger ( $GWW), Fastenal (FAST) → Outperform (from Market Perform) at William Blair. 🔸 Knight-Swift ( $KNX) → Neutral (from Sell) at Citigroup. Downgrade: 🔸 Sherwin-Williams ( $SHW) → Hold (from Buy) at Jefferies. 🔸 Beam Therapeutics ( $BEAM) prices 16.2M shares at $28.48 each. 🔸 DexCom ( $DXCM) gets FDA warning after inspections but sees no material impact on FY25 revenue. 🔸 Nordisk ( $NVO) reports REDEFINE 2 trial met its primary endpoint, showing significant weight loss with CagriSema in 1,206 patients over 68 weeks. 🔸 Trevi ( $TRVI) Phase 2a RIVER trial: Haduvio reduced 24-hour cough frequency by 67% (57% placebo-adjusted, p<0.0001). 🔸 Cognizant ( $CTSH) shares rose as Mantle Ridge built a $1B+ stake, seeing them as undervalued (WSJ). Upgrades: 🔸 DocuSign ( $DOCU) → Neutral (from Underweight) at JPMorgan. Deals: 🔸 NVent ( $NVT) to buy Avail’s electrical products for $975M, expects EPS boost in year one. 🔸 Perion ( $PERI) expands buyback program to $125M. 🔸 Taiwan Semi ( $TSM) Feb revenue NT$260.01B (+43% y/y, -11% m/m); Jan-Feb total NT$553.30B (+39% y/y).