QUICK MARKET SUMMARY: CONSUMER: 🔸 Calavo Growers ( $CVGW): $25M buyback. 🔸 Tesla ( $TSLA): Upgraded to Overweight at Cantor, PT $425. 🔸 Waldencast ( $WALD): Q4 EBITDA missed slightly; FY guidance below estimates. ENERGY/INDUSTRIALS/MATERIALS: 🔸 Kratos ( $KTOS): Building $50M hypersonic facility in Indiana. 🔸 Mosaic ( $MOS): Upgraded to Overweight at Barclays, PT $33. FINANCIALS: 🔸 Goldman Sachs ( $GS), Carlyle (CG), Jefferies (JEF): Downgraded at Oppenheimer. 🔸 Morgan Stanley ( $MS): Plans 2,000 job cuts. 🔸 StoneCo ( $STNE): Strong Q4 EPS and revenue beat; upbeat 2025 profit outlook. HEALTHCARE: 🔸 Absci ( $ABSI): Missed Q4; cash runway into 1H’27. 🔸 Gilead ( $GILD): Shares drop as CDC HIV division review raises concerns. 🔸 HealthEquity ( $HQY): Slight Q4 miss; FY guidance in line. 🔸 Inovio ( $INO): Missed Q4; cash runway into Q1’26. 🔸 OmniAb ( $OABI): Revenue beat; stronger FY outlook. 🔸 Pfizer ( $PFE): Raised $3.3B from Haleon stake sale. 🔸 Purdue Pharma: Filed new bankruptcy plan for opioid settlement. 🔸 Trevi ( $TRVI): Positive trial data; strong cash position. TECH/MEDIA/TELECOM: 🔸 Asana ( $ASAN): Filed mixed securities shelf. 🔸 Foxconn: Expects server revenue to surpass iPhones in 2 years. 🔸 FuboTV ( $FUBO): Partnered with Texas Rangers for streaming broadcasts. 🔸 HPE & NVIDIA ( $NVDA): Launched new AI solutions. 🔸 Oracle ( $ORCL) & NVIDIA (NVDA): Announced major AI integration. 🔸 Synopsys ( $SNPS) & NVIDIA: Teaming up to speed chip design. 🔸 Teradyne Robotics ( $TER): Showcasing AI robotics at NVIDIA GTC 2025.

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 BID 🔸 $CVGW: Q4 EPS 5c vs. -2c last year; revenue up 19.5% to $170M vs. $161.93M est.; adj EBITDA $6.7M. 🔸 $GM: Multi-year deal with Vianode for synthetic graphite for EV batteries. 🔸 $TSLA: SEC sues Elon Musk for late disclosure of Twitter stake in 2022. 🔸 $VAL, $RIG, $NE, $HP, $SLB, $NOV: Downgraded to In Line from Outperform by Evercore/ISI. 🔸 $Oil Market: IEA reports 2025 oil surplus at 725k b/d, down from 950k b/d. 🔸 $Aluminum: Prices up slightly; EU eyes import limits from Russia, China's growth slows. 🔸 $PKE: Q3 EPS $0.08, sales $14.4M. 🔸 $BK: Q4 adj EPS $1.72 vs. $1.56 est.; AUM $2T; fee revenue +9% to $3.51B; net interest +8% to $1.19B; AUC/A $52.1T, up 9%. 🔸 $BHLB: Files for offering of up to 3.45M shares. 🔸 $BLK: Q4 adj EPS $11.93 vs. $11.22 est.; revenue +23% to $5.68B; AUM record $11.55T; operating margin 45.5%; $281B inflows Q4. 🔸 $DFS: Charge-off rate 2.55%, delinquency rate 1.76% at Dec 2024. 🔸 $JPM: Q4 EPS $4.81 vs. $4.04 est.; revenue $42.8B; charge-offs 1.63%, delinquencies 0.84%; FICC trading $5.01B vs. $4.37B est.; credit loss $2.63B; ROE 17%, ROTCE 21%; $486B inflows 2024. 🔸 $WFC: Q4 EPS $1.43 vs. $1.35 est.; net interest $11.84B; revenue $20.38B; commercial banking $3.17B, investment banking $4.61B, wealth management $3.96B. 🔸 $KROS: Paused dosing in TROPOS trial for pulmonary hypertension due to pericardial effusion concerns in safety review. 🔸 $VCEL: Lowers FY24 revenue forecast to $237M-$237.5M from $238M-$242M; raises gross margin to 72.5%; maintains EBITDA margin at 22%; Q4 revenue expected at $75.2M-$75.7M, under consensus. 🔸 $APLD: Q2 adj EPS ($0.06) vs. ($0.15) est.; EBITDA $21.4M vs. $19.68M est.; revenue $63.9M; cloud services +523% to $27.7M. 🔸 $PI: Maintains Q4 revenue and EBITDA guidance; expects EBITDA $13.6M-$15.1M, revenue $91M-$94M. 🔸 $LRCX: Downgraded to Peer Perform from Outperform by Wolfe Research. 🔸 $LASR: Q4 revenue forecast $46M-$48M, below $52M est.; lower than expected margins and EBITDA. 🔸 $MGNI: Expands partnership with Samsung Ads for programmatic ads in Southeast Asia. 🔸 $S: Downgraded to Neutral from Buy by UBS. 🔸 U.S. Policy: New regulations planned to limit chip exports to China from TSMC, Samsung, and others.