QUICK MARKET SUMMARY: Consumer 🔸 Carvana ( $CVNA) upgraded to Overweight at Morgan Stanley; PT raised to $280 from $260. 🔸 Cintas ( $CTAS) ended talks to buy UniFirst (UNF) for $275/share. 🔸 KB Home ( $KBH) Q1 miss: revenue down 5%, net income down 21%, lowers FY25 outlook; appoints Robert Dillard as CFO. 🔸 McCormick ( $MKC) Q1 EPS $0.60 (vs. $0.64 est.), reaffirms FY25 guidance. 🔸 Smithfield Foods sees higher annual sales and profit. 🔸 Tesla ( $TSLA) European market share down sharply; YTD sales -42.6%. Energy, Industrials & Materials 🔸 American Electric ( $AEP) announces $2B stock offering. 🔸 Bunge ( $BG) selling European margarine business to Vandemoortele. 🔸 Canadian Solar ( $CSIQ) Q4 EPS loss (-$1.47) vs. (-$0.24) est.; record storage shipments. 🔸 Enerpac ( $EPAC) Q2 EPS $0.38 (vs. $0.40 est.), maintains guidance. 🔸 EOG Resources ( $EOG) downgraded to Neutral at Mizuho; PT cut to $140. 🔸 Oklo ( $OKLO) FY24 EPS loss (-$0.74); first Aurora deployment expected late 2027. 🔸 Parsons ( $PSN) approves $250M share buyback. 🔸 TechnipFMC ( $FTI) wins $500M–$1B EPC contract from Equinor. Healthcare 🔸 Aura Biosciences ( $AURA) FY loss ($96M); cash runway into 2H26. 🔸 Beyond Air ( $XAIR) secures $2M for autism therapy development. 🔸 Merck ( $MRK) signs $200M licensing deal for Lp(a) inhibitor, potential $1.77B in milestones. 🔸 Neurogene ( $NGNE) FY loss ($82.6M); files $300M shelf offering; cash runway into 2H27. Tech, Media & Telecom 🔸 Alibaba ( $BABA) to restart hiring; Chairman Tsai warns of potential AI bubble. 🔸 Cloudflare ( $NET) double-upgraded to Buy at BofA; PT raised to $160. 🔸 India plans to scrap 6% digital ad tax, easing pressure on U.S. tech firms. 🔸 Crown Castle ( $CCI) appoints interim CEO Daniel Schlanger; reaffirms guidance. 🔸 Volkswagen ( $cVOWGY) partners with Valeo and Mobileye for advanced driver-assistance systems.

#Upgrades - Dec 06, 2024 • $ACN: Goldman Sachs Upgrades to Buy from Neutral - PT $420 (from $370) • $ASAN: KeyBanc Upgrades to Sector Weight from Underweight • $BRX: BMO Capital Upgrades to Outperform from Market Perform - PT $33 • $DG: BofA Securities Upgrades to Buy from Underperform - PT $95 • $EPAM: Goldman Sachs Upgrades to Buy from Neutral - PT $295 (from $235) • $FTI: Jefferies Upgrades to Buy from Hold - PT $40 (from $29) • $KC: UBS Upgrades to Buy from Neutral - PT $12.50 (from $4.20) • $PCH: BMO Capital Upgrades to Outperform from Market Perform - PT $51 • $PJT: UBS Upgrades to Neutral from Sell - PT $175 (from $130) • $PTON: UBS Upgrades to Neutral from Sell - PT $10 (from $2.50) • $PUMP: JPMorgan Upgrades to Neutral from Underweight - PT $10 • $RIG: JPMorgan Upgrades to Neutral from Underweight - PT $5 • $RSG: BMO Capital Upgrades to Outperform from Market Perform - PT $238 • $SHOP: Loop Capital Upgrades to Buy from Hold - PT $140 • $SITE: Jefferies Upgrades to Buy from Hold - PT $175 (from $145) • $TKR: Jefferies Upgrades to Buy from Hold • $WSBC: Raymond James Upgrades to Strong Buy from Outperform - PT $44 (from $35) • $WY: BMO Capital Upgrades to Outperform from Market Perform - PT $38