$MU: Correction completing in this region IMO

QUICK MARKET SUMMARY: CONSUMER: 🔸 Colgate ( $CL): New $5B buyback, dividend to $0.52. 🔸 $NCLH: Upgraded to Equal Weight (Morgan Stanley). 🔸 Lennar ( $LEN): Q1 EPS $2.14 (est. $1.73), rev $7.63B (est. $7.49B); Q2 orders 22.5k-23.5k, deliveries 19.5k-20.5k. 🔸 Nike ( $NKE): Q3 EPS $0.54 (est. $0.28), rev $11.3B (est. $11.03B); guides Q4 rev down mid-teens. 🔸 $NIO: Q4 rev $2.7B (est. $2.79B), EV deliveries up 45%; Q1 guide: 41k-43k vehicles, rev $1.69B-$1.76B (est. $2.48B). 🔸 Torrid ( $CURV): Q4 sales -6.1% y/y; guides Q1 sales $264M-$274M (est. $279M), EBITDA below estimates. 🔸 Target ( $TGT): Files $1B note offering due 2035. Energy/Industrials/Materials: 🔸 FedEx ( $FDX): Q3 EPS $4.51 (miss), rev $22.2B (beat); cuts FY25 guidance. 🔸 Nucor ( $NUE): Q1 EPS guide $0.50-$0.60 (est. $1.09); sees lower steel product prices. 🔸 Planet Labs ( $PL): Q4 loss -$0.08 (est. -$0.02), rev $61.6M; Q1 guide below est. 🔸 U.S. Steel ( $X): Q1 EBITDA $125M (in line), EPS loss guided larger than est. 🔸 BP ( $BP): Elliott pushes for cost cuts, possible board changes (Reuters). Healthcare: 🔸 Assembly Bio ( $ASMB): Files $250M mixed shelf. 🔸 Editas ( $EDIT): CFO stepping down. 🔸 Foghorn ( $FHTX): Files $100M shelf. 🔸 J&J ( $JNJ): Plans $55B investment in U.S. manufacturing/research. 🔸 Maravai ( $MRVI): Guides Q1 rev $43M-$45M (est. $63M). 🔸 Vor Bio ( $VOR): Files $350M shelf. Tech/Media/Telecom: 🔸 Micron ( $MU): Q2 EPS $1.56 (beat), rev $8.05B; Q3 guide above est. 🔸 Luminar ( $LAZR): Sees slower Q1, FY25 rev growth 10%-20%. 🔸 Quantum ( $QUBT): Q4 loss -$0.47 (miss), rev $62k; chip foundry launch in 2025. 🔸 Super Micro ( $SMCI): Upgraded to Neutral (JPM), price target raised to $45.

Micron, $MU, earnings: - EPS: $1.56, est: $1.42 - Revenue: $8.05 billion, est $7.9 billion Fedex, $FDX, earnings: - EPS: $4.51, est: $4.6 - Revenue: $22.2 billion, est: $21.92 billion

BAIRD: BUY NIVDIA, AMD AMID DEEPSEEK SELLOFF 🔸 DeepSeek launch raises AI power, complexity concerns 🔸 Strong AI demand persists despite uncertainties 🔸 GPU evolution seen as hardware-driven; skeptical of workarounds 🔸 $NVDA less pricey than $AVGO; AMD offers best value 🔸 Recommends buying $NVDA, $AMD on dips 🔸 Top picks in chips include $NVDA, $MU, $SMTC, $HIMX

盘前有点猛

I hope everybody had a nice week. Great to see the reactions we did as a lot of impulse signals triggered where we expected them to(when the least were expecting it once again)💪Lots to unpack and dive into this weekend Subscriber Agenda Video: Why did miners fade into the close? Charts: New Impulse- #BTC LTF potential paths, $MARA, $RIOT, $CLSK, $IREN, $WULF, $CIFR, $SMLR, $XRP, $LINK, $LTC, $HOOD, $QQQ, $IWM, $SPY, $MSTR, $ETH, $DOGE Ongoing Corrective- $TSLA, $PLTR, $SOFI, $MBLY, $MU, $PYPL, $CELH, $UPST(some of these names made big moves this week but I'm not sold corrections are over) Correction Nearing Completion?- $CGC, $SQ, $NIO, $JD, $AMC, $LMND Subscriber Requests- $XLM, $RUNE

MORNING BID $AAPL downgraded to Sell by MoffettNathanson, target price $188. $AUR shares up 50% with new partnerships with Continental and Nvidia for deploying driverless trucks using Nvidia's DRIVE Thor and DriveOS. $GETY and $SSTK to merge, forming a $3.7B visual content company under the ticker "GETY". $META adds Dana White, John Elkann, and Charlie Songhurst to its board. $MU shares rise following Nvidia's mention of using Micron's memory in new gaming chips. $NVDA revealed new AI tech for robotics and self-driving, plus new gaming chips and a desktop computer at CES; expects automotive revenue growth. $NXPI to buy TTTech Auto for $625 million to enhance autonomous vehicle safety software. $LULU upgraded to Outperform by Bernstein, target now $460 from $360. $TSLA downgraded to Neutral by Bank America, tgt up to $490 from $400, citing improved sentiment and growth recognition since April 2024 upgrade. $ULTA CEO Dave Kimbell to retire; Kecia Steelman named new CEO, strong holiday performance, Q4 margin outlook raised. $AZEK CFO Peter Clifford resigns to join a private firm outside the building products sector. $APOG) Q3 EPS $1.19, beating consensus $1.11; revenue $341.34M vs. $332.19M expected. Cuts FY25 EPS guidance to $4.90-5.20, lowers revenue growth to -5% from -7% to -4%. $GFL sold Environmental Services to $APO and BC Partners for $8.0B, retaining $1.7B equity, expecting $6.2B cash after taxes. $RPM Q2 EPS $1.39 vs. $1.34 expected; revenue $1.85B vs. $1.79B. Maintains FY25 sales growth in low single digits. $LUV sold and leased back 36 $BA 737-800s to Babcock & Brown, generating $871M from 35 aircraft in late December.

So it's the weekend and that means time to relax/take it easy...what that looks like over hear is 2 a days in the gym, loading up on nature's medicine(steak, eggs, fruit, veggies), and diving into the charts 💪 -Weekend Agenda for Subs Video: $BTC Miners what I saw in $MSTR prior to its 4x move that I'm now seeing in the miners Charts: Speculative paths+Upside/Downside targets Early Expansion- $LCID, $MBLY, $RIVN, $LTC Expansion- $BTC, $SQ, $PLTR, $ARKK, $NVDA, $DOGE, $XRP, $AMZN, $MSTR Pre-Expansion- $MARA, $CLSK, $RIOT, $IREN, $BTBT, $WULF, $CIFR, $BITF, $WGMI Bottom Formations- $BLNK, $AMC, $ARKG, $CELH On-Going Corrective- $TSLA, $AMD, $MU, $LMND Requests- Subscribers chart requests will be posted

STOCKS ON THE MOVE Lamb Weston ( $LW): Shares dropped after naming Michael Smith as CEO on Jan 3, following activist investor Jana Partners' push for board changes or a sale. LW cut FY sales forecast to $6.35B-$6.45B from $6.6B-$6.8B after Q2 sales fell 8% to $1.6B; approved $250M buyback. Lennar Corp. ( $LEN): Q4 revenue down 9.3% to $9.95B, below estimates. New orders dropped 2.7% to 16,895, backlog down 22%. Forecasts Q1 new orders at 17,500-18,000, deliveries at 17,000-17,500. MillerKnoll Inc. ( $MLKN): Q2 EPS $0.55 vs. $0.56 est., sales up 2.2% to $970.4M. Gross margin fell to 38.8%. Guides Q3 sales $903M-$943M, EPS $0.41-$0.47. Steelcase ( $SCS): Q3 EPS $0.30 vs. $0.22 est., sales up 2.2% to $794.9M. Q4 guidance EPS $0.20-$0.24, revenue $770M-$795M. Stanley Black & Decker ( $SWK): Upgraded to Outperform by Mizuho, price target $110, added to top picks. Tri-Pointe Homes ( $TPH): Announced $250M stock buyback program. Swiss Watch Exports: November exports down 3.8% to CHF 2.41B, with U.S. as the only top market increasing by 4.7%. Palantir Technologies ( $PLTR): Extended U.S. Army contract worth up to $618.9M to enhance data operations, continuing data and AI support since 2018. Block ( $SQ): Upgraded to Outperform by Oppenheimer with a $115 target, citing growth in Square's Gross Payment Volume due to product and sales investments. Raymond James ( $RJF): November client assets under administration at $1.60T (+3.6% m/m), financial assets under management at $251.7B (+4.4% m/m). Synchrony ( $SYF): Upgraded to Overweight from Underweight by Morgan Stanley. Mesoblast ( $MESO): Shares up after FDA approval of Ryoncil for treating GVHD in pediatric patients not responding to steroids. Prothena ( $PRTA): Phase IIb PADOVA study by Roche on prasinezumab for early Parkinson's missed its primary endpoint after 18 months. Vertex Pharmaceuticals ( $VRTX): Phase 2 study of suzetrigine in LSR met primary endpoint with significant pain reduction; plans for Phase 3 advancement. Micron Technology ( $MU): Q1 adj EPS $1.79 vs. $1.76 est., revenue up 84% to $8.71B. Shares fell after hours due to Q2 forecast below expectations: revenue $7.7B-$8.1B vs. $8.99B est., gross margin 37.5%-39.5% vs. 41.3% est., EPS $1.33-$1.53 vs. $1.92 est. FY25 capex about $14B. Memory stocks STX, WDC also dropped. Accenture ( $ACN): Q1 EPS $3.59 vs. $3.42 est., revenue up 9% to $17.69B vs. $17.15B est. Operating margin at 16.7%. Lowered FY EPS guidance to $12.43-$12.79 from $12.55-$12.91. Keybanc: Upgraded Okta ( $OKTA) and Fortinet ( $FTNT) to Overweight, downgraded https://t.co/n5rFzz3Pbq (AI) to Underweight. U.S. Commerce Department: Awarded SK Hynix up to $458M for an advanced chip plant and R&D facility in Indiana for AI.

$MU - COMMERCE DEPARTMENT FINALIZES NEARLY $6.2 BILLION CHIPS MANUFACTURING SUBSIDY FOR MICRON

MORNING RECAP ❖ Alaska Airlines ( $ALK) to launch direct flights to Tokyo and Seoul from Seattle in 2025 post-Hawaiian acquisition. ❖ Casey’s General Store ( $CASY) Q2: EPS $4.85, revs down 2.9% to $3.95B. Grocery up 8.8%, Fuel down 8.8%. ❖ eBay ( $EBAY) downgraded to Underperform by Jefferies, target cut to $52 from $60. ❖ Stellantis ( $STLA) and CATL to invest €4.1B for a low-cost EV battery plant in Spain. ❖ Toll Brothers ( $TOL) Q4: EPS $4.63, revs up 10% to $3.33B. Backlog down 6.9%, contracts up 30%. ❖ Vail Resorts ( $MTN) Q1: EPS ($4.61), revs $260.28M. Guides net income to $240M-$316M. ❖ Anglo American ( $NGLOY) faces charges in Chile over El Soldado copper mine issues. ❖ Celanese Corp. ( $CE) appoints Scott Richardson as CEO effective Jan 1, 2025. ❖ Fluence Energy ( $FLNC) offers $300M in convertible bonds due 2030. ❖ Planet Labs ( $PL) Q3: EPS loss (-$0.02), revs $61.3M. Q4 revenue expected at $61M-$63M. ❖ Amazon ( $AMZN) and Intuit ( $INTU) expand partnership, leveraging AWS since 2013 for enhanced customer experiences. ❖ Arthur J. Gallagher ( $AJG) offers $8.5B in common stock at $280/share. ❖ Cohen & Steers ( $CNS) AUM up to $91.4B from $89.7B, driven by $1.9B market appreciation, offset by net outflows. ❖ Lazard ( $LAZ) AUM at $234.4B, with $3B market appreciation, $2.3B net outflows, and $2.2B forex depreciation. ❖ Eli Lilly ( $LLY) launches $15B share buyback, increases dividend by 15% to $1.50/share. ❖ Fate Therapeutics ( $FATE) shares positive Phase 1 data for FT819 in treating lupus, showing sustained B-cell depletion and remission in first patient. ❖ HealthEquity ( $HQY) Q3: EPS $0.78 vs. est. $0.72; revs $300.4M vs. est. $290M; adjusted EBITDA up 24% to $118.2M. Forecasts FY24 EPS $3.08-$3.16, revs $1.185B-$1.195B. ❖ Oracle ( $ORCL) Q2: adj EPS $1.47 vs. $1.48 est., revs $14.06B vs. $14.12B est. AI demand boosts Oracle Cloud Infrastructure by 52%; Total Remaining Performance Obligations up 49% to $97B; Cloud Revenue up 24% to $5.9B. ❖ Braze ( $BRZE) Q3: adj EPS $0.02 vs. loss (-$0.01) est., revs $152.1M vs. $148.19M est. Q4 guidance and FY25 revenue outlook raised to $588M-$589M. ❖ https://t.co/dPTowbRrks ( $AI) Q2: revs up 29% to $94.3M, adj EPS loss (-$0.06) vs. (-$0.16) est. Q3 revs forecast at $95.5M-$100.5M; FY25 revenue expected at $378M-$398M. ❖ Micron Technology ( $MU) receives $6.1B subsidy for U.S. semiconductor facilities. ❖ MongoDB ( $MDB) Q3: adj EPS $1.16 vs. $0.69 est., revs up 22% to $529.4M. Atlas revenue up 26%, customer base at 52,600. Raises FY25 EPS and revenue forecasts; CFO resigns. ❖ Taiwan Semiconductor ( $TSM) November sales up 34% y/y to NT$276.06B, down 12.2% m/m.

$MU - MICRON SHARES SOAR 20% IN BIGGEST ONE-DAY GAIN SINCE 2011

#Downgrades - Sep 12, 2024 $FULC: Cantor Fitzgerald Downgrades to Neutral from Overweight $IPG: UBS Downgrades to Sell from Neutral - PT $29 (from $34) $MU: BNP Paribas Downgrades to Underperform from Neutral $NAT: Jefferies Downgrades to Hold from Buy - PT $4 $SPG: Stifel Downgrades to Hold from Buy - PT $159 (from $157.50) $TEN: Jefferies Downgrades to Hold from Buy - PT $27 (from $31)