#Downgrades - Nov 19, 2024 • $ASO: Truist Securities Downgrades to Hold from Buy - PT $50 (from $63) • $BLNK: Needham Downgrades to Hold from Buy • $CHPT: Needham Downgrades to Hold from Buy • $ERJ: UBS Downgrades to Sell from Neutral - PT $32 (from $29) • $KHC: Piper Sandler Downgrades to Neutral from Overweight - PT $35 (from $40) • $SABK: Janney Downgrades to Neutral from Buy • $SABR: Bernstein SocGen Group Downgrades to Underperform from Market Perform - PT $3 • $SE: Phillip Securities Downgrades to Reduce from Neutral - PT $100 (from $80)

RECAP • $HD: Q3 EPS $3.78 vs. $3.65 est., revenue up 6.6% to $40.22B. Comp sales down 1.3%, better than expected. Raised FY24 sales forecast to 4% growth. • $BABA: Strong sales growth during Singles' Day, 45 brands hit over 1 billion yuan GMV. • $LYV: Q3 operating income $909.8M vs. $856.6M est., revenue down 6.2% to $7.65B. Ticket sales for 2024 up 3%. • $ONON: Q3 EPS CHF 0.16, below est. CHF 0.20. Sales CHF 635.8M, up from expected CHF 617.3M. Increased FY sales forecast. • $VIK: Upgraded by Morgan Stanley due to robust cruise demand. • $APAM: AUM as of October 31, 2024, was $162.8B, with $78.8B in Artisan Funds and $84.0B in other accounts. • $AGO: Q3 EPS $2.42 vs. $1.42 est., revenue down 33% to $269M, premiums up 53% to $61M. • $CNS: AUM decreased to $89.7B by October 31, 2024, from $91.8B, due to market depreciation and distributions. • $IVZ: AUM dropped to $1.772T, down 1.3%, with $2B in net inflows but losses from market returns. • $JRVR: Q3 premiums grew 6%, with a high combined ratio of 136.1% but a better current year ratio at 92.6%. • $RMR: Q4 EPS $0.34 below $0.40 est., EBITDA slightly above estimate at $21.8M. • $HOOD: October showed 24.4M funded customers, $159.7B in assets, with significant growth in deposits. • $VCTR: Reported AUM of $172.3B, total client assets of $176.5B for October 31, 2024. • $ASRT: Q3 EPS $0.03 vs. ($0.05) est., EBITDA $5.3M vs. $4.7M est., revenue $29.2M vs. $28.87M est. • $AZN: Upgraded full-year guidance due to strong Q3, expects high teens growth for earnings and revenue in 2024. • $BAYRY: Stock dropped after forecasting lower earnings next year due to weak ag markets. • $NGNE: Shares fell despite positive trial data for Rett Syndrome drug, due to an adverse event. • $NVRO: Q3 EPS ($0.41) vs. ($0.81) est., improved EBITDA, raised FY revenue guidance. • $STXS: Q3 EPS ($0.08) vs. ($0.05) est., revenue beat expectations, kept flat year-over-year revenue guidance. IAC: Considering spinning off Angi, which IAC controls 85% of, valued at $1.25B, after exceeding Q3 revenue forecasts due to Dotdash Meredith. • $IVAC: Q3 EPS loss was ($0.08) vs. ($0.15) est., revenue significantly beat estimates at $28.5M. • $OKTA: Downgraded to hold by Deutsche Bank. • $SE: Q3 EPS $0.24 missed estimates by $0.02, but revenue hit $4.3B, beating estimates. • $ZETA: Q3 EBITDA $53.6M vs. $49.93M est., revenue $268M vs. $252.5M est., raised Q4 guidance.