MARKET HIGHLIGHTS AUTOS: 🔸 GM & Ford drop as Trump imposes 25% import tax on foreign cars (effective April 3); European & Asian automakers also down. 🔸 S&P Changes: Cava ( $CAVA) replaces Altair ( $ALTR) in S&P MidCap 400 (March 31) after Siemens acquires Altair. 🔸 Crypto: GameStop ( $GME) plans $1.3B convertible notes offering to buy Bitcoin. EARNINGS: 🔸 MillerKnoll ( $MLKN): Q3 EPS $0.44 in line, revenue $876.2M (miss); Q4 guide below estimates. 🔸 Nio ( $NIO): Raises $450M via share placement for EV development. 🔸 Petco ( $WOOF): Q4 EBITDA beats, but weak Q1 & FY guidance. 🔸 Steelcase ( $SCS): Q4 EPS beats; Q1 revenue & EPS guidance above estimates. INDUSTRIALS & MATERIALS: 🔸 Chemours ( $CC) upgraded at Mizuho; 🔸 Liberty Energy ( $LBRT) upgraded at Morgan Stanley. 🔸 HB Fuller ( $FUL) beats Q1 EPS, guides FY revenue lower. FINANCIALS: 🔸 Jefferies ( $JEF) Q4 EPS misses; cites challenging capital markets. HEALTHCARE: 🔸 Medicaid overpaid insurers ( $CI, $HUM, $UNH, $ELV), per WSJ. 🔸 Nkarta ( $NKTX): Q4 EPS beats, cash runway to 2029. 🔸 Soleno ( $SLNO): FDA approves Vykat XR for genetic disorder. 🔸 Zentalis ( $ZNTL): Files mixed shelf offering up to $250M. TECH & MEDIA: 🔸 $AMD downgraded at Jefferies (AI concerns, competition). 🔸 S&P Changes: Angi ( $ANGI) replaces ODP in SmallCap 600. 🔸 3D Systems ( $DDD): Q4 EPS misses, weak FY guidance. 🔸 Concentrix ( $CNXC): Q1 EPS & revenue beat, reiterates FY outlook. 🔸 OpenAI nears $40B funding at $300B valuation (Bloomberg). 🔸 Verint ( $VRNT): Q4 EPS & revenue miss, weak FY guidance.

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.