MARKET HIGHLIGHTS CONSUMER 🔸 Lululemon ( $LULU): Q4 adj. EPS $6.14 (est. $5.85); revs +13% y/y to $3.61B (est. $3.57B). Q1 comp sales +3% (+4% constant dollar). Q4 Americas comps flat; Intl +20%. Sees Q1 EPS $2.53-$2.58 (est. $2.78) & revs $2.34B-$2.36B (est. $2.39B). 🔸 Oxford ( $OXM): Q4 adj. EPS $1.37 (est. $1.27), sales $391M (est. $383.94M). Guides Q1 sales $375M-$395M (est. $401.18M), EPS $1.70-$1.90 (est. $2.79). Sees FY revs $1.49B-$1.53B (est. $1.54B), EPS $4.60-$5.00 (est. $6.81). ENERGY, INDUSTRIALS & MATERIALS 🔸 AAR ( $AIR): Q3 adj. EPS $0.99 (est. $0.96), revs +20% y/y to $678M (est. $699.13M). Adj. EBITDA +39% y/y to $81M; margin 12% (10.3% prior). Op margin 10.5% (5.8% y/y). 🔸 Argan ( $AGX): Q4 EPS $2.22 (est. $1.15), EBITDA $39.3M (est. $19.4M), revs $232.5M (est. $197.5M). 🔸 KULR ( $KULR): Q4 EPS ($0.02) in line, op. inc. ($3.54M) (est. $3.046M), revs $3.37M (est. $2.901M). Bitcoin holdings $20.28M (as of 12/31/24). 🔸 Nippon ( $NPSCY)/US Steel (X): Offering more investment to Trump admin to close $14B merger – Semafor. 🔸 Schneider ( $SNDR): Downgraded to Neutral at BofA, tgt cut to $25 (from $34) on weaker demand, tariff uncertainty, and pricing pressure. FINANCIALS 🔸 Voya ( $VOYA): Downgraded to Underperform at BofA, tgt cut to $71 (from $79). Estimates imply $7.10-$7.90 EPS for 2025 (vs. est. $8.14). HEALTHCARE 🔸 Beam ( $BEAM): FDA clears NDA for BEAM-302 (alpha-1 antitrypsin deficiency). 🔸 CureVac ( $CVAC): EU patent upheld with amendments. 🔸 Kodiak ( $KOD): Q4 EPS ($0.84) (est. ($0.88)); cash runway into 2026. TECH, MEDIA & TELECOM 🔸 CoreWeave ( $CRWV): 37.5M share IPO at $40, below $47-$55 range; reduced from 49M shares. 🔸 Braze ( $BRZE): Acquires OfferFit for $325M (cash & stock). 🔸 Civeo ( $CVEO): Approves share buyback up to 10%.

#Downgrades - Oct 03, 2024 $ASO: Evercore ISI Downgrades to In Line from Outperform - PT $60 (from $65) $BLBD: Roth/MKM Downgrades to Neutral from Buy - PT $48 $CAG: CFRA Downgrades to Sell from Hold $CCRD: B.Riley Downgrades to Neutral from Buy - PT $15 (from $19) $CHPT: JPMorgan Downgrades to Underweight from Overweight $NFE: Morgan Stanley Downgrades to Equalweight from Overweight - PT $15 (from $35) $TSCO: Evercore ISI Downgrades to In Line from Outperform - PT $300 $VOYA: JPMorgan Downgrades to Neutral from Overweight - PT $87 $VRCA: Needham Downgrades to Hold from Buy $WOLF: Mizuho Downgrades to Underperform from Neutral - PT $8 (from $17)

#Downgrades - Sep 13, 2024 $ASAI: BofA Securities Downgrades to Neutral from Buy - PT $9.10 (from $13) $CPRI: Citi Downgrades to Neutral from Buy - PT $41 $CUBE: UBS Downgrades to Neutral from Buy - PT $54 (from $53) $FULC: H.C. Wainwright Downgrades to Neutral from Buy - PT $4 $GMRN: Barclays Downgrades to Underweight from Equalweight - PT $133 (from $181) $HAL: RBC Capital Downgrades to Sector Perform from Outperform - PT $37 (from $44) $MRNA: JPMorgan Downgrades to Underweight from Neutral - PT $70 (from $88) $MRNA: Jefferies Downgrades to Hold from Buy - PT $65 (from $120) $MRNA: Oppenheimer Downgrades to Perform from Outperform $NBR: Citi Downgrades to Neutral from Buy - PT $75 (from $110) $RLJ: Wells Fargo Downgrades to Underweight from Equal Weight - PT $9 (from $11) $VOYA: Raymond James Downgrades to Market Perform from Strong Buy