QUICK MARKET SUMMARY: CONSUMER: 🔸 GameStop ( $GME): Q4 EPS $0.30 vs est. $0.08; sales $1.28B (miss); adding Bitcoin to treasury. 🔸 Tesla ( $TSLA): Hosting launch event in Saudi Arabia on April 10. 🔸 Advance Auto Parts ( $AAP): Finished store closures; plans 30 new US stores in 2025, 100+ by 2027. 🔸 https://t.co/mNJtOGZiLg ( $PRTS): Q4 loss -$0.71 vs -$0.15 y/y; sales -15% to $133.5M; no 2025 guidance, exploring strategic options. 🔸 Dollar Tree ( $DLTR): Selling Family Dollar for $1.007B; Q4 adj. EPS $2.11 (miss), sales -42% to $4.99B; guides Q1 sales $4.5–$4.6B. ENERGY/INDUSTRIALS/MATERIALS: 🔸 Compass Minerals ( $CMP): Cutting 10% of workforce, ending fire retardant biz; expects $11M–$13M cost savings. 🔸 Glencore (GLNCY): Declared force majeure on Chilean copper shipments. 🔸 JinkoSolar ( $JKS): Q4 loss -$0.32; sales -3.9% to $2.83B; Q1 module shipments guided at 16–18 GW. 🔸 Phillips 66 ( $PSX): Adding two board directors amid proxy fight with Elliott. 🔸 Range Resources ( $RRC): Upgraded to Equal Weight at Morgan Stanley. 🔸 Westlake Chemical ( $WLK): Downgraded to Neutral at Piper; target cut to $120. 🔸 Worthington ( $WOR): Q3 EPS $0.79 (beat); revs -4% to $304.5M; EBITDA up 10%. 🔸 US copper import tariffs may come in weeks (Bloomberg). FINANCIALS: 🔸 Invesco Mortgage ( $IVR): Cuts dividend to $0.34 from $0.40. 🔸 PaySign ( $PAYS): Q4 EPS $0.02; guides FY revenue $68.5M–$70M. HEALTHCARE: 🔸 Corvus Pharma ( $CRVS): Q4 loss -$0.18; cash runway into Q1 2026. 🔸 Guardant Health ( $GH): VA now covers Shield blood test for colorectal cancer screening. 🔸 Verastem ( $VSTM): Will present data at AACR 2025 in Chicago. TECH/MEDIA/TELECOM: 🔸 Apple ( $AAPL): iPhone 16 available in Indonesia April 11. 🔸 GCT Semiconductor ( $GCTS): Q4 net loss $5M on $1.8M sales. 🔸 Qualcomm ( $QCOM): Filed antitrust complaints against Arm in US, EU, Korea.

MORNING BID 🔸 Apple ( $AAPL) plans to invest $500B in the U.S. over 4 years, boosting AI, silicon engineering, and skills development, including a new Houston facility for Apple Intelligence servers and 20,000 R&D jobs. 🔸 Disney’s ( $DIS) “Captain America: Brave New World” topped box office in week 2 with $28.2M, down from $100M debut over 4 days in week 1. 🔸 Microsoft ( $MSFT) is canceling U.S. datacenter leases, possibly signaling excess AI capacity, per TD Cowen; also claims a quantum computing breakthrough, but physicists doubt it, per WSJ. 🔸 Twilio ( $TWLO) upgraded to overweight from equal-weight by Morgan Stanley, citing strong execution for growth and margins. 🔸 Alibaba ( $BABA) plans to invest $52B in AI and cloud infrastructure over 3 years, surpassing its last decade’s spending. 🔸 Domino’s ( $DPZ) Q4: EPS $4.89 (est. $4.90), revenue $1.44B (est. $1.47B), comp store sales up 0.4% (est. 1.63%), international comps up 2.7%; dividend raised 15% to $1.74/share, gross margin steady at 39.2%. 🔸 Nike ( $NKE) upgraded to Buy from Hold by Jefferies, citing a strong recovery in the next 2 years. 🔸 Target Hospitality ( $TH) notified that the U.S. government will end its Pecos Children’s Center agreement, effective around Feb 21, 2025. 🔸 Wingstop ( $WING) upgraded to Buy from Neutral by Guggenheim. 🔸 CF Industries ( $CF) upgraded to Neutral from Underperform by Bank America, PT $84, seen as fairly priced with balanced risk/reward after selloff. 🔸 Newmont ( $NEM) downgraded to Neutral from Overweight by JPMorgan. 🔸 Westlake Chemical ( $WLK) Q4: EPS $0.06 (est. $1.08), sales $2.84B (est. $2.97B), operating income $66M (-9.6% y/y), EBITDA $416M (+6.7% y/y, est. $524.5M). 🔸 Berkshire Hathaway ( $BRK.B) Q4 EPS $13,695 (vs. $26,043 last year); 2024 investment gains: $3.1B after-tax in Q4, $79.6B full year; 2023: $330M Q4 loss, $3.6B full-year gain; no stock buybacks in Q4. Equitable Holdings ( $EQH) offers to buy up to 46M AllianceBernstein ($AB) units at $38.50 each, totaling $1.8B, a 7.8% premium over Feb 21 closing price. 🔸 NMI Holdings ( $NMIH) upgraded to Outperform from Market Perform by Keefe Bruyette. 🔸 BioCryst ( $BCRX): ORLADEYO trial shows positive results for kids aged 2-12 with hereditary angioedema; real-world studies confirm significant attack rate drops in patients with C1-INH deficiency and normal C1-INH. 🔸 Summit Therapeutics ($SMMT) teams up with Pfizer ($PFE) to test ivonescimab with Pfizer’s cancer therapies ( ADCs) across tumor types; Summit supplies the drug, Pfizer runs the studies.

#Upgrades - Dec 18, 2024 • $BILL: KeyBanc Upgrades to Overweight from Sector Weight - PT $115 • $CFG: Raymond James Double Upgrades to Strong Buy from Market Perform - PT $55 • $DOW: Evercore ISI Upgrades to Outperform from In Line - PT $56 • $MSCI: Goldman Sachs Upgrades to Buy from Neutral - PT $723 (from $617) • $PFG: Piper Sandler Upgrades to Overweight from Neutral - PT $90 • $PKG: Jefferies Upgrades to Buy from Hold - PT $280 (from $215) • $QTWO: KeyBanc Upgrades to Overweight from Sector Weight - PT $126 • $RIG: Barclays Upgrades to Overweight from Equalweight - PT $4.50 • $WK: Stifel Upgrades to Buy from Hold - PT $130 (from $102) • $WLK: Citi Upgrades to Buy from Neutral - PT $140 (from $152) • $XMTR: JPMorgan Upgrades to Overweight from Neutral - PT $45 (from $25)