Trump to meet retailers of Walmart, $WMT, Home Depot, $HD, Lowe's, $LOW, and Target, $TGT, to discuss how tariffs effect them, per Reuters.

MORNING RECAP • $LOW Q3: EPS $2.89 (beat consensus $2.81), sales $20.2B (beat consensus $19.92B); Q3 comp sales -1.1% due to weak DIY demand, offset by storm sales and growth in Pro and online. Revised full-year outlook: sales $83B-$83.5B, EPS $11.80-$11.90. • $ADM: Q3 profit fell due to weak North American crush margins; Nutrition segment expects better Q4 but not as high as Q3 2024. • $CTRN: Appointed Ken Seipel as CEO; Q3 sales $179.1M, comp sales up 5.7%. • $WEN: Ken Cook appointed as CFO, effective December 2, 2024. • $XPEV: Q3 revenue $1.39B, above estimates; EPS loss of $1.90, worse than expected $1.71 loss. Q4 revenue forecast at $2.09B-$2.21B; launched P7+ sedan. • $ACM increases buyback to $1B; Q4 EPS $1.27, revenue $4.11B, slightly below consensus. FY25 EPS forecast $5.00-$5.20. • $AMCR to acquire $BERY in $8.4B stock deal at a 10% premium. • $AVAV acquiring BlueHalo in $4.1B stock deal. Oil prices dip as Johan Sverdrup field restarts post-outage. • $ERII launches $50M stock repurchase. • $NPSCY engages with $X stakeholders to push for $15B acquisition. • $SYAXF to merge with $PLL in an all-stock deal, valuing the new entity at $623M. • $SYM Q4 operating income exceeds expectations; sets Q1 revenue guidance at $495-515M. U.S. defense stocks rise following Russia's updated nuclear policy and threats. • $DOC ups 2024 FFO guidance to $1.80-$1.82, citing strong portfolio performance. • $INCY stock drops after pausing a phase 2 study due to preclinical findings. • $MDT Q2 revenue up 5.2% to $8.4B, raises FY25 EPS outlook slightly. • $OMCL issues $150M in convertible senior notes. • $SYRE plans to offer $200M in common stock and warrants. • $AMD: Darla Smith resigns as Chief Accounting Officer on November 15. • $GOOGL stock declines as DOJ plans to demand the sale of Chrome browser. • $INTC: Efforts to distribute manufacturing grants under the Chips Act are stalled, with most of the $39B yet to be disbursed. • $MSTR aims to raise $1.75B through convertible senior notes. • $MCHP: Ganesh Moorthy retires; Steve Sanghi appointed as interim CEO. • $SMCI stock rises after appointing BDO USA as auditor and seeking Nasdaq compliance extension

Earnings Week Ahead Tuesday 19th, 2024 • Ticker: $XPENG • Company: XPeng Inc • Market Cap: 12.9 billion USD • EST Time: 05:30 EST • Expected Quarterly EPS: -0.24 USD • Expected Quarterly Revenue: 1.37 billion USD • Expected Full Year EPS: -0.77 USD • Expected Full Year Revenue: 5.66 billion USD • Ticker: $LOW • Company: Lowe's Companies Inc • Market Cap: 153.4 billion USD • EST Time: 06:00 EST • Expected Quarterly EPS: 2.82 USD • Expected Quarterly Revenue: 19.94 billion USD • Expected Full Year EPS: 11.82 USD • Expected Full Year Revenue: 82.99 billion USD • Ticker: $J • Company: Jacobs Engineering Group Inc • Market Cap: 17.5 billion USD • EST Time: 06:40 EST • Expected Quarterly EPS: 1.54 USD • Expected Quarterly Revenue: 2.37 billion USD • Expected Full Year EPS: 6.98 USD • Expected Full Year Revenue: 8.24 billion USD • Ticker: $MDT • Company: Medtronic PLC • Market Cap: 110.3 billion USD • EST Time: 06:45 EST • Expected Quarterly EPS: 1.25 USD • Expected Quarterly Revenue: 8.27 billion USD • Expected Full Year EPS: 5.45 USD • Expected Full Year Revenue: 33.62 billion USD • Ticker: $WMT • Company: Walmart Inc • Market Cap: 679 billion USD • EST Time: 07:00 EST • Expected Quarterly EPS: 0.53 USD • Expected Quarterly Revenue: 167.72 billion USD • Expected Full Year EPS: 2.45 USD • Expected Full Year Revenue: 678.25 billion USD • Ticker: $KEYS • Company: Keysight Technologies Inc • Market Cap: 26.7 billion USD • EST Time: 16:05 EST • Expected Quarterly EPS: 1.57 USD • Expected Quarterly Revenue: 1.20 billion USD • Expected Full Year EPS: 6.18 USD • Expected Full Year Revenue: 4.95 billion USD Wednesday 20th, 2024 • Ticker: $NIO • Company: Nio Inc • Market Cap: 9.2 billion USD • EST Time: 05:30 EST • Expected Quarterly EPS: -0.30 USD • Expected Quarterly Revenue: 2.69 billion USD • Expected Full Year EPS: -1.17 USD • Expected Full Year Revenue: 10.2 billion USD • Ticker: $TGT • Company: Target Corp • Market Cap: 70.7 billion USD • EST Time: 06:30 EST • Expected Quarterly EPS: 2.30 USD • Expected Quarterly Revenue: 25.9 billion USD • Expected Full Year EPS: 9.55 USD • Expected Full Year Revenue: 106.71 billion USD • Ticker: $TJX • Company: TJX Companies Inc • Market Cap: 135.2 billion USD • EST Time: 07:30 EST • Expected Quarterly EPS: 1.09 USD • Expected Quarterly Revenue: 13.95 billion USD • Expected Full Year EPS: 4.17 USD • Expected Full Year Revenue: 56.2 billion USD • Ticker: $PANW • Company: Palo Alto Networks Inc • Market Cap: 129.1 billion USD • EST Time: 16:05 EST • Expected Quarterly EPS: 1.48 USD • Expected Quarterly Revenue: 2.12 billion USD • Expected Full Year EPS: 6.27 USD • Expected Full Year Revenue: 9.13 billion USD • Ticker: $NVDA • Company: NVIDIA Corp • Market Cap: 360.9 billion USD • EST Time: 16:20 EST • Expected Quarterly EPS: 0.75 USD • Expected Quarterly Revenue: 33.12 billion USD • Expected Full Year EPS: 2.86 USD • Expected Full Year Revenue: 126.9 billion USD • Ticker: $SQM • Company: Sociedad Quimica y Minera de Chile SA • Market Cap: 10.6 billion USD • EST Time: 20:15 EST (previous day) • Expected Quarterly EPS: 0.66 USD • Expected Quarterly Revenue: 1.09 billion USD • Expected Full Year EPS: -0.56 USD • Expected Full Year Revenue: 4.69 billion USD Wednesday 21th, 2024 • Ticker: $BIDU • Company: Baidu Inc • Market Cap: 29.5 billion USD • EST Time: 05:00 EST • Expected Quarterly EPS: 2.43 USD • Expected Quarterly Revenue: 4.6 billion USD • Expected Full Year EPS: 10.94 USD • Expected Full Year Revenue: 18.6 billion USD • Ticker: $DE • Company: Deere & Co • Market Cap: 108 billion USD • EST Time: 06:30 EST • Expected Quarterly EPS: 3.89 USD • Expected Quarterly Revenue: 9.3 billion USD • Expected Full Year EPS: 24.89 USD • Expected Full Year Revenue: 45.3 billion USD • Ticker: $WMG • Company: Warner Music Group Corp • Market Cap: 17.3 billion USD • EST Time: 07:30 EST • Expected Quarterly EPS: 0.28 USD • Expected Quarterly Revenue: 1.59 billion USD • Ticker: $GAP • Company: Gap Inc • Market Cap: 8.3 billion USD • Reporting Time: After Market Close (AMC) • Expected Quarterly EPS: 0.58 USD • Expected Quarterly Revenue: 3.81 billion USD • Expected Full Year EPS: 1.87 USD • Expected Full Year Revenue: 14.96 billion USD • Ticker: $ROST • Company: Ross Stores Inc • Market Cap: 47.2 billion USD • EST Time: 16:00 EST • Expected Quarterly EPS: 1.40 USD • Expected Quarterly Revenue: 5.17 billion USD • Expected Full Year EPS: 6.13 USD • Expected Full Year Revenue: 21.36 billion USD • Ticker: $NTAP • Company: NetApp Inc • Market Cap: 24.2 billion USD • EST Time: 16:00 EST • Expected Quarterly EPS: 1.78 USD • Expected Quarterly Revenue: 1.64 billion USD • Expected Full Year EPS: 7.10 USD • Expected Full Year Revenue: 6.6 billion USD • Ticker: $INTU • Company: Intuit Inc • Market Cap: 196.4 billion USD • EST Time: 16:00 EST • Expected Quarterly EPS: 2.35 USD • Expected Quarterly Revenue: 3.14 billion USD • Expected Full Year EPS: 19.34 USD • Expected Full Year Revenue: 18.27 billion USD • Ticker: $CPRT • Company: Copart Inc • Market Cap: 55.2 billion USD • EST Time: 16:30 EST • Expected Quarterly EPS: 0.37 USD • Expected Quarterly Revenue: 1.09 billion USD • Expected Full Year EPS: 1.55 USD • Expected Full Year Revenue: 4.56 billion USD • Expected Full Year EPS: 1.08 USD • Expected Full Year Revenue: 6.4 billion USD

#Upgrades - Oct 09, 2024 $AFRM: Morgan Stanley Upgrades to Equalweight from Underweight - PT $37 (from $20) $HD: Loop Capital Upgrades to Buy from Hold - PT $460 $HON: CFRA Upgrades to Buy from Hold - PT $235 $INTR: JPMorgan Upgrades to Overweight from Neutral - PT $8.50 (from $7.50). $LOW: Loop Capital Upgrades to Buy from Hold - PT $30 $LPLA: Wells Fargo Upgrades to Overweight from Equal Weight - PT $285 (from $235) $LUV: Jefferies Upgrades to Hold from Underperform - PT $32 (from $24) $MSCI: Redburn-Atlantic Upgrades to Buy from Neutral - PT $680 $RJF: JMP Securities Upgrades to Market Outperform from Market Perform - PT $146 $SAIA: Wolfe Research Upgrades to Outperform from Peerperform $VLO: Wells Fargo Upgrades to Overweight from Equal Weight - PT $165 (from $172) $VNET: HSBC Upgrades to Buy from Hold - PT $5.20

#Upgrades - Sep 24, 2024 $BANC: Wedbush Upgrades to Outperform from Neutral - PT $18 (from $14) $BNTX: Morgan Stanley Upgrades to Overweight from Equalweight - PT $145 (from $93) $CMA: Wedbush Upgrades to Outperform from Neutral - PT $75 (from $52) $CNH: Raymond James Upgrades to Outperform from Market Perform - PT $14 $COLB: Wedbush Upgrades to Outperform from Neutral - PT $31 (from $28) $CRM: Piper Sandler Upgrades to Overweight from Neutral - PT $325 (from $268) $LOW: Oppenheimer Upgrades to Outperform from Perform - PT $305 (from $230) $PB: Wedbush Upgrades to Outperform from Neutral - PT $90 (from $75) $RF: Wedbush Upgrades to Outperform from Neutral - PT $28 (from $23) $RYAN: BMO Capital Upgrades to Outperform from Market Perform - PT $75 (from $65) $WMT: Truist Securities Upgrades to Buy from Hold - PT $89 (from $76)