Dj Southwest Airlines Corporate Stock Underperforms Friday When Compared To Competitors Despite Daily Gains

The S&P 500 Index Friday closed down -1.54%, the Dow Jones Industrials Index closed down -1.63%, and the Nasdaq 100 Index closed down -1.57%. March E-mini S&P futures (ESH25) are down -1.57%, and March E-mini Nasdaq futures (NQH25) are down -1.63%.

Stocks sold off Friday, with the S&P 500 and the Dow Jones Industrials falling to 2-month lows and the Nasdaq 100 sliding to a 6-week low. Rising global bond yields Friday hammered stock prices. The US 10-year T-note yield soared to a 14-month high, the 10-year German bund yield climbed to a 6-month high, and the Japanese 10-year JGB yield rose to a 13-year high.

Stocks sank Friday on unexpected signs of strength in the US labor market that bolsters the chances that the Fed will pause its interest rate cuts. US Dec nonfarm payrolls rose by +256,000, stronger than expectations of +165,000 and the largest increase in 9 months. Also, the Dec unemployment rate unexpectedly fell -0.1 to 4.1%, showing a stronger labor market than expectations of no change at 4.2%. On the positive side, Dec average hourly earnings unexpectedly eased to +3.9% y/y versus expectations of no change at +4.0% y/y.

Also, the weakness in chip stocks weighed on the overall market. After the close Wednesday, Bloomberg reported that the Biden administration wants to curb the sale of AI chips used in data centers on both a country and company basis.

Stock losses accelerated Friday after the report from the University of Michigan showed US consumer sentiment unexpectedly fell and inflation expectations rose. The University of Michigan US Jan consumer sentiment index fell -0.8 to 73.2, weaker than expectations of no change at 74.0.

The University of Michigan US Jan 1-year inflation expectations indicator unexpectedly accelerated to an 8-month high of +3.3%, stronger than expectations of no change at +2.8%. Also, the Jan 5-10 year inflation expectations indicator unexpectedly jumped to a 16-year high of +3.3%, stronger than expectations of no change at +3.0%.

Hawkish Fed comments Thursday, when equity markets were closed, were bearish for bonds and stocks. Fed Governor Bowman said, "The rate of inflation declined significantly in 2023, but this progress appears to have stalled last year with core inflation still uncomfortably above the FOMC's 2% goal. Thus, I continue to prefer a cautious and gradual approach to adjusting policy." Also, Boston Fed president Collins said she favored fewer rate cuts this year than she had anticipated just a few months ago and that a slower approach to adjusting interest rates is merited now as officials confront "considerable uncertainty" over the US economic outlook. In addition, Kansas City Fed President Schmid said, "With inflation close to target and growth showing continued momentum, I believe we are near the point where the economy needs neither restriction nor support and that policy should be neutral."

The markets are discounting the chances at 3% for a -25 bp rate cut at the January 28-29 FOMC meeting.

Overseas stock markets on Friday settled lower. The Euro Stoxx 50 closed down -0.81%. China's Shanghai Composite Index fell to a 2-1/2 month low and closed down -1.33%. Japan's Nikkei Stock 225 slid to a 2-week low and closed down -1.05%.

Interest Rates

March 10-year T-notes (ZNH25) Friday closed down -26.5 ticks. The 10-year T-note yield rose +8.3 bp to 4.772%. Mar T-notes Friday tumbled to an 8-1/2 month low, and the 10-year T-note yield climbed to a 14-month high of 4.786%. T-note prices were undercut Friday by the stronger-than-expected US Dec payroll report, which dampened the outlook for Fed rate cuts. Also, hawkish comments on Thursday from Fed Governor Bowman, Boston Fed President Collins, and Kansas City Fed President Schmid undercut T-notes as they expressed their support for the Fed to pause its rate-cutting campaign. In addition, rising inflation expectations are negative for T-notes after the 10-year breakeven inflation rate rose to a 14-month high of 2.474% Friday and after the University of Michigan’s US Jan inflation expectations indicator unexpectedly accelerated.

European government bond yields Friday moved higher. The 10-year German bund yield rose to a 6-month high of 2.624% and finished up +2.8 bp to 2.595%. The 10-year UK gilt yield rose +2.7 bp to 4.838%.

Swaps are discounting the chances at 95% for a -25 bp rate cut by the ECB at its January 30 policy meeting.

US Stock Movers

Chip stocks fell Friday after Bloomberg reported late Wednesday that the Biden administration wants to curb the sale of AI chips used in data centers on both a country and company basis. As a result, Nvidia , ARM Holdings Plc , Analog Devices , and Intel closed down more than -3%. Also, Applied Materials , Marvell Technology , Microchip Technology , and Lam Research closed down more than -2%.

Constellation Brands closed down more than -17% to lead losers in the S&P 500 after reporting Q3 comparable sales of $2.46 billion, weaker than the consensus of $2.54 billion, and forecasting full-year comparable EPS of $13.40-$13.80, the midpoint below the consensus of $13.71.

ON Semiconductor closed down more than -7% to lead losers in the Nasdaq 100 after Truist Securities downgraded the stock to hold from buy.

Advanced Micro Devices closed down more than -4% after Goldman Sachs downgraded the stock to neutral from buy.

Insurance stocks retreated Friday as the cost of damage from the California wildfires continues to rise. Allstate closed down more than -5%, and Travelers Cos closed down more than -4% to lead losers in the Dow Jones Industrials. Also, Chubb Ltd closed down more than -3%, and American Insurance Group closed down more than -1%.

Californian utility stocks sold off Friday due to the risk of being blamed for the Southern California wildfires. As a result, PG&E Corp closed down more than -10%, Edison International closed down more than -6%, and Sempra closed down more than -4%.

Roku Inc closed down more than -3% after MoffettNathanson downgraded the stock to sell from neutral with a price target of $55.

Hims & Hers Health closed down more than -1% after Citigroup downgraded the stock to sell from neutral with a price target of $25.

Walgreens Boots Alliance closed up more than +27% to lead gainers in the S&P 500 after reporting Q1 sales of $39.46 billion, well above the consensus of $37.34 billion.

Delta Air Lines closed up more than +8% to lead airline stocks higher after reporting Q4 adjusted EPS of $1.85, better than the consensus of $1.76, and forecasting Q1 adjusted EPS of 70 cents-$1.00, with the midpoint above the consensus of 76 cents. Also, American Airlines Group closed up more than +4%, United Airlines Holdings closed up more than +3%, and Alaska Air Group closed up more than +1%. In addition, Southwest Airlines closed up nearly +1%.

Government-service stocks moved higher Friday after Elon Musk expressed doubt that his government efficiency panel in the incoming Trump administration will actually be able to achieve $2 trillion in cuts to the US federal budget. As a result, CACI International closed up more than +4%. Also, Booz Allen Hamilton Holding , Science Applications International , and Leidos Holdings closed up more than +2%.

Energy stocks rose Friday as the price of WTI crude oil rose more than +3% to a 3-month high. As a result, Coterra Energy , Devon Energy , and Diamondback Energy closed up more than +2%. Also, Hess Corp closed up more than +1% and Chevron closed up more than +1% to lead gainers in the Dow Jones Industrials.

Valero Energy is up more than +1% after Piper Sandler upgraded the stock to overweight from neutral with a price target of $149.

Royalty Pharma Plc closed up more than +12% after announcing a $3 billion share buyback plan.

Earnings Reports (1/13/2025)

Aehr Test Systems (AEHR), BARK Inc (BARK), Dakota Gold Corp (DC), Immersion Corp (IMMR), KB Home (KBH), Unity Bancorp Inc (UNTY).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

• S&P Futures Fall After Key U.S. Jobs Report Released
• S&P Futures Slip on Trump Tariff Worries, U.S. ADP Jobs Report and FOMC Minutes in Focus
• Stock Index Futures Steady With Focus on U.S. JOLTs Report and Fed Speak
• Stocks Set to Open Higher as Investors Await Fed Minutes and U.S. Jobs Data, Fed Speak on Tap

The S&P 500 Index today is down -1.58%, the Dow Jones Industrials Index is down -1.52%, and the Nasdaq 100 Index is down -1.82%. March E-mini S&P futures (ESH25) are down -1.64%, and March E-mini Nasdaq futures (NQH25) are down -1.98%.

Stocks are selling off today, with the S&P 500 and the Dow Jones Industrials dropping to 2-month lows and the Nasdaq 100 falling to a 6-week low. Rising global bond yields are hammering stock prices. The US 10-year T-note yield soared to a 14-month high, the 10-year German bund yield climbed to a 6-month high, and the Japanese 10-year JGB yield rose to a 13-year high.

Stocks are sinking today on unexpected signs of strength in the US labor market that bolsters the chances that the Fed will pause its interest rate cuts. US Dec nonfarm payrolls rose by +256,000, stronger than expectations of +165,000 and the largest increase in 9 months. Also, the Dec unemployment rate unexpectedly fell -0.1 to 4.1%, showing a stronger labor market than expectations of no change at 4.2%. On the positive side, Dec average hourly earnings unexpectedly eased to +3.9% y/y versus expectations of no change at +4.0% y/y.

Also, weakness in chip stocks is weighing on the overall market. After the close Wednesday, Bloomberg reported that the Biden administration wants to curb the sale of AI chips used in data centers on both a country and company basis.

Stock losses accelerated today after the report from the University of Michigan showed US consumer sentiment unexpectedly fell and inflation expectations rose. The University of Michigan US Jan consumer sentiment index fell -0.8 to 73.2, weaker than expectations of no change at 74.0.

The University of Michigan US Jan 1-year inflation expectations indicator unexpectedly accelerated to an 8-month high of +3.3%, stronger than expectations of no change at +2.8%. Also, the Jan 5-10 year inflation expectations indicator unexpectedly jumped to a 16-year high of +3.3%, stronger than expectations of no change at +3.0%.

Hawkish Fed comments Thursday, when equity markets were closed, were bearish for bonds and stocks. Fed Governor Bowman said, "The rate of inflation declined significantly in 2023, but this progress appears to have stalled last year with core inflation still uncomfortably above the FOMC's 2% goal. Thus, I continue to prefer a cautious and gradual approach to adjusting policy." Also, Boston Fed president Collins said she favored fewer rate cuts this year than she had anticipated just a few months ago and that a slower approach to adjusting interest rates is merited now as officials confront "considerable uncertainty" over the US economic outlook. In addition, Kansas City Fed President Schmid said, "With inflation close to target and growth showing continued momentum, I believe we are near the point where the economy needs neither restriction nor support and that policy should be neutral."

The markets are discounting the chances at 3% for a -25 bp rate cut at the January 28-29 FOMC meeting.

Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.40%. China's Shanghai Composite Index fell to a 2-1/2 month low and closed down -1.33%. Japan's Nikkei Stock 225 slid to a 2-week low and closed down -1.05%.

Interest Rates

March 10-year T-notes (ZNH25) today are down -17 ticks. The 10-year T-note yield is up +5.2 bp to 4.741%. Mar T-notes today tumbled to an 8-1/2 month low, and the 10-year T-note yield climbed to a 14-month high of 4.786%. T-note prices are being undercut today by the stronger-than-expected US Dec payroll report, which dampened the outlook for Fed rate cuts. Also, hawkish comments on Thursday from Fed Governor Bowman, Boston Fed President Collins, and Kansas City Fed President Schmid undercut T-notes as they expressed their support for the Fed to pause its rate-cutting campaign. In addition, rising inflation expectations are negative for T-notes after the 10-year breakeven inflation rate today rose to a 14-month high of 2.474% and after the University of Michigan’s US Jan inflation expectations indicator unexpectedly accelerated.

European government bond yields today are moving higher. The 10-year German bund yield rose to a 6-month high of 2.624% and is up +1.6 bp to 2.582%. The 10-year UK gilt yield is up +2.7 bp to 4.838%.

Swaps are discounting the chances at 94% for a -25 bp rate cut by the ECB at its January 30 policy meeting.

US Stock Movers

Chip stocks are falling today after Bloomberg reported late Wednesday that the Biden administration wants to curb the sale of AI chips used in data centers on both a country and company basis. As a result, Nvidia is down more than -3%. Also, Applied Materials and ARM Holdings Plc are down more than -3%. In addition, Marvell Technology , GlobalFoundries , Intel , and Lam Research are down more than -2%.

Constellation Brands is down more than -13% to lead losers in the S&P 500 after reporting Q3 comparable sales of $2.46 billion, weaker than the consensus of $2.54 billion, and forecasting full-year comparable EPS of $13.40-$13.80, with the midpoint below the consensus of $13.71.

ON Semiconductor is down more than -7% to lead losers in the Nasdaq 100 after Truist Securities downgraded the stock to hold from buy.

Advanced Micro Devices is down more than -4% after Goldman Sachs downgraded the stock to neutral from buy.

Insurance stocks are falling today as the cost of damage from the California wildfires continues to rise. Allstate is down more than -4% and Travelers Cos is down more than -4% to lead losers in the Dow Jones Industrials. Also, Chubb Ltd is down more than -3%, and American Insurance Group is down more than -1%.

Californian utility stocks are selling off today due to the risk of being blamed for the Southern California wildfires. As a result, PG&E Corp is down more than -9%, Edison International is down more than -4%, and Sempra is down more than -3%.

Roku Inc is down more than -3% after MoffettNathanson downgraded the stock to sell from neutral with a price target of $55.

Hims & Hers Health is down more than -3% after Citigroup downgraded the stock to sell from neutral with a price target of $25.

Walgreens Boots Alliance is up more than +24% to lead gainers in the S&P 500 after reporting Q1 sales of $39.46 billion, well above the consensus of $37.34 billion.

Delta Air Lines is up more than +9% to lead airline stocks higher after reporting Q4 adjusted EPS of $1.85, better than the consensus of $1.76, and forecasting Q1 adjusted EPS of 70 cents-$1.00, with the midpoint above the consensus of 76 cents. Also, United Airlines Holdings is up more than +5%, and American Airlines Group and Alaska Air Group are up more than +3%. In addition, Southwest Airlines is up more than +1%.

Government-service stocks are climbing today after Elon Musk expressed doubt that his government efficiency panel in the incoming Trump administration will actually be able to achieve $2 trillion in cuts to the US federal budget. As a result, CACI International and Booz Allen Hamilton Holding are up more than +3%. Also, Science Applications International is up more than +2%, and Leidos Holdings is up more than +1%.

Burlington Stores is up more than +1% after UBS upgraded the stock to buy from neutral with a price target of $360.

Valero Energy is up more than +1% after Piper Sandler upgraded the stock to overweight from neutral with a price target of $149.

Royalty Pharma Plc is up more than +8% after announcing a $3 billion share buyback plan.

Earnings Reports (1/10/2025)

Constellation Brands Inc (STZ), Delta Air Lines Inc (DAL), TD SYNNEX Corp (SNX), and Walgreens Boots Alliance Inc (WBA).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

• S&P Futures Fall After Key U.S. Jobs Report Released
• S&P Futures Slip on Trump Tariff Worries, U.S. ADP Jobs Report and FOMC Minutes in Focus
• It's All About the Crude Oil Insiders Knowing Something We Don't
• Stock Index Futures Steady With Focus on U.S. JOLTs Report and Fed Speak

J.B. Hunt Transport Services, Inc. JBHT is scheduled to report fourth-quarter 2024 results on Jan. 16, after market close.

Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.

JBHT has a disappointing earnings surprise history. The company’s earnings lagged the Zacks Consensus Estimate in three of the last four quarters (outpaced the mark in the remaining quarter), delivering an average miss of 10.86%.

Let’s see how things have shaped up for J.B. Hunt this earnings season.

Q4 Expectations for JBHT

The Zacks Consensus Estimate for J.B. Hunt’s fourth-quarter 2024 revenues is pegged at $3.15 billion, indicating a 4.6% decline year over year. The top line is likely to have been weighed down by weakness across the majority of its segments.

The Zacks Consensus Estimate for the fourth-quarter Intermodal revenues is pegged at $1.56 billion, indicating a 3.9% decline from the year-ago reported figure. The downside is likely to have been due to a decrease in volume and a decline in gross revenue per load, resulting from changes in customer rates, fuel surcharge revenues and the mix of freight. Our estimate is pegged at $1.57 billion.

The consensus mark for Dedicated Contract Services segment revenues is pegged at $860 million, implying a 2.7% decrease from the fourth-quarter 2023 reported number. The downside is likely to have been caused by a decline in average trucks and productivity (revenue per truck per week).Our estimate is pegged at $850.5 million.

The Zacks Consensus Estimate for Integrated Capacity Solutionsrevenues is pegged at $324 million, indicating a 10.9% decrease from the year-ago reported figure. Our estimate is pegged at $305.5 million.

The Zacks Consensus Estimate for Truckload revenues is pegged at $187 million, indicating a 4.1% decline from the fourth-quarter 2023 reported number. Truckload revenues are expected to have been hurt due to a decrease in revenue per load and load volume. Our estimate is pegged at $195.3 million.

The Zacks Consensus Estimate for Final Mile Services revenues is pegged at $241 million, indicating a 0.8% decrease from the fourth-quarter 2023 reported number. General weakness in demand across many of the end markets served might have hurt the segment. Our estimate is pegged at $240.3 million.

Higher net interest expense is likely to mar J.B. Hunt’s bottom line. JBHT continues to incur higher interest expenses due to higher interest rates. Further, the company’s bottom line is expected to have been hurt by an expected increase in operating expenses due to high purchased transportation costs, salaries, wages and benefit expenses.Notably, the Zacks Consensus Estimate for JBHT’s fourth-quarter 2024 earnings has been revised downward by 2.4% in the past 60 days to $1.64 per share.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for J.B. Hunt this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

J.B. Hunt has an Earnings ESP of -2.29% and a Zacks Rank #4 (Sell) at present.

J.B. Hunt Transport Services, Inc. Price and EPS Surprise

J.B. Hunt Transport Services, Inc. price-eps-surprise | J.B. Hunt Transport Services, Inc. Quote

Highlights of JBHT’s Q3 Performance

J.B. Hunt Transport Services' third-quarter 2024 earnings per share of $1.49 outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.

Total operating revenues of $3.07 billion surpassed the Zacks Consensus Estimate of $3.04 billion but declined 3% year over year.Total operating revenues, excluding fuel surcharge revenue, decreased less than 1% from the year-ago reported quarter.

Stocks to Consider

Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.

C.H. Robinson CHRW has an Earnings ESP of +0.22% and a Zacks Rank #2 at present. CHRW is scheduled to report fourth-quarter 2024 earnings on Jan. 29. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for fourth-quarter 2024 earnings has been revised 7.7% upward in the past 90 days. CHRW’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average beat being 10.3%.

Southwest Airlines LUV has an Earnings ESP of +2.97% and a Zacks Rank #3 at present. LUV is set to release third-quarter results on Jan. 30. Upbeat air-travel demand is likely to have aided the quarterly performance.

The Zacks Consensus Estimate for fourth-quarter 2024 earnings has moved north 32.2% in the past 90 days. LUV’s earnings surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, delivering an average surprise of 111.62%.

Zacks Investment Research

Southwest Airlines has an average rating of hold and mean price target of $32.64, according to analysts polled by FactSet.

The S&P 500 Index today are down -1.17%, the Dow Jones Industrials Index is down -0.91%, and the Nasdaq 100 Index is down -1.49%. March E-mini S&P futures (ESH25) are down -1.19%, and March E-mini Nasdaq futures (NQH25) are down -1.51%.

Stocks are under pressure today, with the S&P 500 falling to a 1-week low, the Dow Jones Industrials dropping to a 2-month low, and the Nasdaq 100 falling to a 6-week low. Rising global bond yields are hammering stock prices. The US 10-year T-note yield soared to a 14-month high, the 10-year German bund yield climbed to a 6-month high, and the Japanese 10-year JGB yield rose to a 13-year high.

Stocks are selling off today on unexpected signs of strength in the US labor market that bolsters the chances that the Fed will pause its interest rate cuts. US Dec nonfarm payrolls rose by +256,000, stronger than expectations of +165,000 and the largest increase in 9 months. Also, the Dec unemployment rate unexpectedly fell -0.1 to 4.1%, showing a stronger labor market than expectations of no change at 4.2%. On the positive side, Dec average hourly earnings unexpectedly eased to +3.9% y/y versus expectations of no change at +4.0% y/y.

Also, weakness in chip stocks is weighing on the overall market. Bloomberg reported that after the close Wednesday that the Biden administration wants to curb the sale of AI chips used in data centers on both a country and company basis.

Hawkish Fed comments Thursday, when equity markets were closed, were bearish for bonds and stocks. Fed Governor Bowman said, "The rate of inflation declined significantly in 2023, but this progress appears to have stalled last year with core inflation still uncomfortably above the FOMC's 2% goal. Thus, I continue to prefer a cautious and gradual approach to adjusting policy." Also, Boston Fed president Collins said she favored fewer rate cuts this year than she had anticipated just a few months ago and that a slower approach to adjusting interest rates is merited now as officials confront "considerable uncertainty" over the US economic outlook. In addition, Kansas City Fed President Schmid said, "With inflation close to target and growth showing continued momentum, I believe we are near the point where the economy needs neither restriction nor support and that policy should be neutral."

The markets are discounting the chances at 3% for a -25 bp rate cut at the January 28-29 FOMC meeting.

Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.02%. China’s Shanghai Composite Index fell to a 2-1/2 month low and closed down -1.33%. Japan’s Nikkei Stock 225 slid to a 2-week low and closed down -1.05%.

Interest Rates

March 10-year T-notes (ZNH25) today are down -19 ticks. The 10-year T-note yield is up +6.8 bp to 4.757%. Mar T-notes today tumbled to an 8-1/2 month low, and the 10-year T-note yield climbed to a 14-month high of 4.786%. T-note prices are being hammered today by the stronger-than-expected US Dec payroll report, which dampened the outlook for Fed rate cuts. Also, hawkish comments on Thursday from Fed Governor Bowman, Boston Fed President Collins, and Kansas City Fed President Schmid undercut T-notes as they expressed their support for the Fed to pause its rate-cutting campaign. In addition, rising inflation expectations are negative for T-notes after the 10-year breakeven inflation rate today rose to a 14-month high of 2.474%.

European government bond yields today are moving higher. The 10-year German bund yield rose to a 6-month high of 2.624% and is up +4.1 bp to 2.607%. The 10-year UK gilt yield is up +4.9 bp to 4.860%.

Swaps are discounting the chances at 94% for a -25 bp rate cut by the ECB at its January 30 policy meeting.

US Stock Movers

Chip stocks are falling today after Bloomberg reported late Wednesday that the Biden administration wants to curb the sale of AI chips used in data centers on both a country and company basis. As a result, Nvidia is down more than -3% to lead losers in the Dow Jones Industrials. Also, Applied Materials and ARM Holdings Plc are down more than -3%. In addition, Marvell Technology , GlobalFoundries , Intel , and Lam Research are down more than -2%.

Advanced Micro Devices is down more than -5% to lead losers in the Nasdaq 100 after Goldman Sachs downgraded the stock to neutral from buy.

Insurance stocks are falling today as the cost of damage from the California wildfires continues to rise. Allstate is down more than -4%. Also, Travelers Cos and Chubb Ltd are down more than -2%, and American Insurance Group is down more than -1%.

Californian utility stocks are selling off today due to the risk of being blamed for the Southern California wildfires. As a result, PG&E Corp is down more than -7%, and Sempra is down more than -1%.

Roku Inc is down more than -4% after MoffettNathanson downgraded the stock to sell from neutral with a price target of $55.

Hims & Hers Health is down more than -3% after Citigroup downgraded the stock to sell from neutral with a price target of $25.

ON Semiconductor is down more than -3% after Truist Securities downgraded the stock to hold from buy.

Walgreens Boots Alliance is up more than +24% to lead gainers in the S&P 500 after reporting Q1 sales of $39.46 billion, well above the consensus of $37.34 billion.

Delta Air Lines is up more than +10% to lead airline stocks higher after reporting Q4 adjusted EPS of $1.85, better than the consensus of $1.76 and forecasting Q1 adjusted EPS of 70 cents-$1.00, with the midpoint above the consensus of 76 cents. Also, United Airlines Holdings is up more than +4%, and American Airlines Group and Alaska Air Group are up more than +3%. In addition, Southwest Airlines is up more than +1%.

Energy stocks and energy service providers are climbing today with the price of WTI crude up more than +4% at a 3-month high. As a result, Devon Energy and Coterra Energy are up more than +3%. Also, Chevron is up more than +2% to lead gainers in the Dow Jones Industrials. In addition, Diamondback Energy , Occidental Petroleum , Hess Corp , and APA Corp are up more than +2%.

Valero Energy is up more than +2% after Piper Sandler upgraded the stock to overweight from neutral with a price target of $149.

Royalty Pharma Plc is up more than +7% after announcing a $3 billion share buyback plan.

Snowflake is up more than +1% after Barclays upgraded the stock to overweight from equal weight with a price target of $190.

Earnings Reports (1/10/2025)

Constellation Brands Inc (STZ), Delta Air Lines Inc (DAL), TD SYNNEX Corp (SNX), and Walgreens Boots Alliance Inc (WBA).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.