DAILY RECAP $AAPL saw minimal smartphone shipment growth in 2024 amidst a strong market rebound, according to IDC. $AMBA Q3 adj EPS $0.11 vs $0.03 est., revenue $82.7M vs $79.02M est.; Q4 rev guidance $76-80M. $ADSK Q3 EPS $2.17 vs $2.12 est., revenue $1.57B vs $1.562B est.; Q4 revs $1.623-1.638B, FY revs $6.115-6.13B. $CRWD Q3 EPS $0.93 vs $0.81 est., revenue $1.01B vs $982.36M est.; Q4 revs $1.029-1.035B. $DELL Q3 EPS $2.15 vs $2.06 est., revenue $24.4B vs $24.72B est.; strong growth in infrastructure, slight decline in client solutions. $HPQ Q4 EPS $0.93 as expected, revenue $14.1B vs $13.986B est.; Q1 and FY EPS guidance lowered. $NTNX Q1 EPS $0.42 vs $0.32 est., revenue $591M vs $571.8M est.; Q2 rev guidance $635M-$645M. $PD Q3 EPS $0.28 vs $0.17 est., revenue $118.9M vs $116.52M est.; Q4 revs $118.5-120.5M, FY revs $464.5-466.5M. $WDAY Q3 EPS $1.89 vs $1.76 est., revenue $2.16B vs $2.13B est.; Q4 subscription revs lower than expected. $DDD Q3 EPS ($0.12) vs ($0.10) est., revenue $112.9M vs $115.27M est.; FY rev guidance $440-450M, improving adj EBITDA. $GES reported Q3 EPS at $0.34, under $0.38 expected, with revenue up 13% to $738.5M. They've cut FY25 EPS and revenue growth forecasts. $JWN beat with Q3 EPS of $0.33 vs. $0.22, revenues up 4.3% to $3.46B, and raised FY24 revenue outlook. $URBN excelled with Q3 EPS at $1.10 vs. $0.85, revenue up 6.3% to $1.36B. Growth in Anthropologie, Free People, and Nuuly, but a decline at Urban Outfitters. $GRO priced its IPO at $15/share, offering 2M shares instead of the planned 4.25M. $BYDDY is seeking supplier price reductions, bracing for tougher competition in China's EV market. $SEDG is ending its storage division, cutting jobs by 500, with expected charges for assets and inventory. $VWAGY has agreed to divest from its Xinjiang plant amidst human rights concerns. $IREN reported a Q1 Bitcoin mining revenue drop to $49.6M from $54.3M due to higher network difficulty and lower Bitcoin prices, despite increased hashrate. AI Cloud Services revenue rose by 28% to $3.2M from $2.5M with new GPU's added. Adjusted EBITDA fell to $2.6M from $12.2M, with 813 Bitcoins mined compared to 821 in the prior quarter. $ACAD has secured exclusive rights to SAN711 from Saniona for global development and sales. $GRFS stock fell after Bloomberg reported Brookfield is set to abandon its €6.45 billion acquisition attempt due to pricing disagreements.

MORNING RECAP • Target Corp. ( $TGT): Shares fell after Q3 results missed expectations; EPS $1.85 vs. $2.30 est., sales up 0.9% to $25.23B missing $25.74B est., and operating margin at 4.6% vs. 5.6% est. FY EPS guidance lowered to $8.30-$8.90 from $9-$9.70. • Azek Company ( $AZEK): Beat Q4 expectations with EPS at $0.29 vs. $0.27 est., adjusted EBITDA $91.8M vs. $88.1M, and sales at $348.22M. FY25 guidance: revenue $1.51B-$1.54B, adjusted EBITDA $400M-$415M. • Chewy ( $CHWY): Upgraded to 'Buy' by Bank America with price target raised to $40 from $24. • Delta Air Lines ( $DAL): Projects mid-single digit revenue growth for 2025, with capacity expansion up to 4%. • La-Z-Boy ( $LZB): Q2 EPS $0.71 vs. $0.64 est., sales up 1.9% to $521M, Q3 guidance provided, dividend raised to $0.22. • Uber ( $UBER): Launched Uber XXL for airport travel in 60+ airports and new reservation features with flight tracking. • AeroVironment ( $AVAV): Upgraded to Buy from Hold by Jefferies. • DT Midstream ( $DTM): Acquires three pipelines from Oneok for $1.2B, spanning 1,300 miles across seven Midwest states. • Dycom ( $DY): Q3 EPS $2.68 vs. $2.26 est., revenue $1.27B vs. $1.22B est.; anticipates mid- to high single-digit revenue growth in Q4. • Patrick Industries ( $PATK): Announces a 3-for-2 stock split. • Powell Industries ( $POWL): Q4 revenue up 32.1% to $275.1M, but missed $284.3M est.; EPS $3.77 vs. $3.55 est.; orders up 56% to $267M, backlog steady at $1.3B, expects strong FY25. • SolarEdge ( $SEDG): Upgraded to Neutral from Sell by Guggenheim, previous $10 price target dropped. • Forestar Group ( $FOR): Files for potential sale of up to $300M in common stock. • JPMorgan ( $JPM): Downgraded to Perform from Outperform by Oppenheimer due to valuation. • Lemonade ( $LMND): Upgraded to equal weight from underweight by Morgan Stanley post-investor day. • StoneX Group ( $SNEX): Q4 EPS $2.32 vs $2.05 est., net revenue $454.8M vs $462.98M est. • XP Inc. ( $XP): Launches a buyback program up to R$1.0B; Q3 EPS as expected at 2.18, revenue slightly below at 4.319B; active clients increased to 4.7M. • Concentra Group Holdings Inc. ( $CON) will replace Myers Industries Inc. (MYE) in the S&P SmallCap 600 on November 27, following a distribution by Select Medical Holdings Corp. (SEM). • Pfizer ( $PFE) appointed Chris Boshoff as its R&D chief starting January 1. It also received EC approval for Hympavzi for hemophilia treatment. • Sangamo Therapeutics ( $SGMO) received FDA clearance for ST-503 human trials, with enrollment planned for mid-2025. • Varex Imaging ( $VREX) reported Q4 EPS at $0.19, beating the $0.09 estimate, but revenue dropped 10% to $205.7M. Forecasts Q1 revenue between $195M-$215M. • Viking Therapeutics ( $VKTX) shared positive mid-stage trial results for VK2809, showing significant improvement in liver fibrosis over placebo. • Comcast Corp. ( $CMCSA) is set to spin off cable channels like MSNBC, CNBC, and USA to reduce exposure to declining viewership and ad revenue, keeping NBC and Peacock, per WSJ. • Dolby Labs ( $DLB) Q4 EPS $0.81 vs. $0.70 est., revenue slightly below at $305M. Forecasts Q1 revenue $330-360M and FY revenue $1.33-1.39B. • Flex Ltd ( $FLEX) will replace Azenta Inc. ( $AZTA) in S&P MidCap 400, with Azenta moving to S&P SmallCap 600, effective November 25. • Keysight Technologies (KEYS) Q4 EPS $1.65 vs. $1.57 est., revenue at $1.287B. Q1 guidance: revenue $1.265-1.285B, EPS $1.65-1.71. • https://t.co/jK5z8CZLV2 ( $WIX) Q3 EPS $1.62 vs. $1.51 est., revenue $444.67M vs. $457.9M est. Increases FY24 revenue and bookings forecasts. • ZoomInfo Technologies ( $ZI) Chairman Schuck purchased 492,500 shares at $10.25 each on November 15, transaction worth $5,049,750.

#Upgrades - Nov 20, 2024 • $AVAV: Jefferies Upgrades to Buy from Hold - PT $230 (from $240) • $CHWY: BofA Securities Upgrades to Buy from Underperform - PT $40 (from $24) • $ENR: JPMorgan Upgrades to Neutral from Underweight - PT $39 (from $32) • $GLPI: Deutsche Bank Upgrades to Buy from Hold - PT $54 (from $49) • $INSP: BofA Securities Upgrades to Buy from Underperform - PT $255 (from $220) • $LMND: Morgan Stanley Upgrades to Equalweight from underweight - PT $42 (from $23) • $NWL: Barclays Upgrades to Overweight from Equalweight - PT $10 (from $8) • $SEDG: Guggenheim Upgrades to Neutral from Sell • $XPEV: CMB International Securities Upgrades to Buy from Hold - PT $16 (from $8)

#Downgrades - Sep 17, 2024 $AGRO: Morgan Stanley Downgrades to Equalweight from Overweight - PT $12.50 (from $14.50) $FYBR: JPMorgan Downgrades to Neutral from Overweight - PT $38.50 (from $35) $GOLF: Jefferies Downgrades to Hold from Buy - PT $75 (from $86) $OSBC: Raymond James Downgrades to Outperform from Strong Buy $OZK: Raymond James Downgrades to Market Perform from Outperform $PB: Raymond James Downgrades to Outperform from Strong Buy $SEDG: Jefferies Downgrades to Underperform from Hold - PT $17 (from $27) $VSAT: JPMorgan Downgrades to Neutral from Overweight - PT $15 (from $29)