– NYSE volume 7% below its one-month average;
– Nasdaq volume 19% below its one-month average;
– VIX index: up 0.66% to 15.31
SOURCE: Barchart
SOURCE: Barchart
SOURCE: TheStreet Pro
SOURCE TheFly
* The market is more erratic than Selma Blair.
* The action in financials (banks, brokers and private equity) continues to be worrisome.
* Breadth is foul.
Caveat emptor.
Positions: None
Hyperscalers move from capital light to capital intensive:
Positions: None.
$KKR: UBS lowered the firm’s price target on KKR to $122 from $123 and keeps a Buy rating on the shares.
$BX: UBS analyst Michael Brown lowered the firm’s price target on Blackstone to $116 from $122 and keeps a Neutral rating on the shares.
$APO: UBS lowered the firm’s price target on Apollo Global to $163 from $172 and keeps a Buy rating on the shares.
$WGO: Citi analyst James Hardiman lowered the firm’s price target on Winnebago to $24 from $29 and keeps a Neutral rating on the shares. The firm lowered estimates in the recreational vehicle group as part of a Q3 earnings preview. Retail weakness amid higher interest rates and gas prices will weigh on demand going into 2027, the analyst tells investors in a research note.
$FRPT: TD Cowen lowered the firm’s price target on Freshpet to $80 from $85 and keeps a Buy rating on the shares. The firm adjusted targets in the food, beverage and personal care space, saying that despite many large cap staples stocks trading close to five-year lows, the risk/rewards remain unfavorable. Big food sales have stabilized, but lack a clear path back to growth, the analyst tells investors in a research note. TD raised its non-alcoholic beverage sales forecast but says alcohol volumes remained weak through the summer.
$META: Truist analyst Youssef Squali raised the firm’s price target on Meta Platforms to $1,000 from $763 and keeps a Buy rating on the shares. The firm is adjusting its model with a rollover to its discounted cash flow derived valuation to FY27 from FY26 and also reflecting the expected contribution of Muse, offset by higher capital expenditure view, the analyst tells investors in a research note. Truist adds that it remains constructive on Meta heading into earnings, expecting results at the higher-end of guidance/consensus thanks to the company’s monetization and strong user engagement.
Positions: Short KKR S BX S APO S
– $VFC +4.0% (Piper Sandler and Truist upgrade as signs of Vans stabilization improve turnaround confidence)
– $GS +3.0% (Q3 beat, led by surging equities revenue and stronger investment-banking fees)
– $UNH +2.5% (Q3 beat and 2026 adjusted EPS outlook raised to at least $20.50)
– $SNDX -17.0% (MAXPIRe Phase 2 axatilimab trial in idiopathic pulmonary fibrosis missed its primary endpoint)
– $S -7.0% ($1.25B convertible senior-notes offering raises dilution and stock-supply concerns)
– $WDC -6.0% (UBS cuts its target on hard-drive capacity and pricing uncertainty, compounding the storage-sector selloff)
– $SNDK -6.0%, $STX -5.5%, $MU -3.5%, $MRVL -2.5%, $AMD -2.0% (memory, storage and chip names slide as reported CXMT advances intensify China-competition fears)
– $JPM -3.5% (Q3 EPS and revenue missed as fixed-income trading weakened despite stronger investment-banking fees)
– $DPZ -3.0% (Q3 beat, but US same-store sales growth slowed sharply, raising demand-recovery concerns)
– $JNJ -3.0% (Q3 beat, but medtech growth was soft and international device sales faced geopolitical disruption)
– $ADBE -1.5% (HSBC downgrades to Hold, citing open-source competition risks)
– $WFC -1.0% (Q3 EPS beat, but revenue and net-interest income missed expectations)
3:45 a.m.: Fed Governor Waller (Voter) speaks about monetary policy and AI at financial conference, New Delhi; Morning: Fed Bank of Chicago President Goolsbee (Non-Voter) Podcast Appearance — Semafor Compound Interest (Interview will publish to podcast platforms on Tuesday morning);
10:00 a.m.: Fed Bank of Chicago President Goolsbee (Non-Voter) Podcast Appearance — Kyla’s Newsletter (Interview will publish to Kyla Scanlon’s Substack);
1:00 p.m.: Fed Bank of Richmond President Barkin (Non-Voter) participates in discussion at the Howard University School of Business, Washington, DC (No text. No livestream);
4:00 p.m. (approx.) Fed Bank of Boston President Collins (Non-Voter) speaks on “Perspectives on the Economy and Financial Landscape” before the 25th Annual Regional and Community Bankers Conference at the Federal Reserve Bank of Boston, Boston, MA Embargoed text available. Audience Q&A expected. No media Q&A. Open to media via livestream: https://www.youtube.com/@FederalReserveBoston/featuredSource: TradeTheNews
Source for below Economic Calendar: TipRanks
Source: TheStreet Pro
Positions: None.
Source: TheStreet Pro
