The S&P 500 futures are down 15 points, the Nasdaq 100 futures are down 99 points, and the Dow Jones Industrial Average futures are down 84 points in early trading. There's a negative trend due to ongoing tariff concerns as President Trump enforced a 25% tariff on steel and aluminum imports.
Treasury yields have increased, putting additional pressure on stocks. The 10-year yield is up to 4.54%, and the 2-year yield is up to 4.29%.
Fed Chair Powell is set to begin his semi-annual testimony before Congress today.
The NFIB Small Business Optimism survey dropped to 102.8 in January from 105.1 in December.
BP (BP) is down 0.9% after missing earnings and revenue estimates. Humana (HUM, Financial) is up 2.0% after exceeding earnings and revenue forecasts, but its full-year EPS guidance is lower than expected. Coca-Cola (KO, Financial) is up 3.4% after beating earnings and revenue expectations and providing in-line full-year EPS guidance. AutoNation (AN, Financial) rose 2.7% after surpassing earnings and revenue estimates. DuPont (DD, Financial) is up 3.9% after beating earnings estimates and providing in-line full-year EPS and revenue guidance.
Google (GOOG, GOOGL) and SoftBank (SFTBY) have invested in the quantum computing startup QuEra Computing, which raised $230 million in a recent funding round. The funding will be used to expand QuEra's workforce and achieve certain technical milestones. QuEra, valued between $750 million and $1 billion before the raise, generates significant revenue and aims to bolster its technological capabilities with this new capital.
Archer Aviation (ACHR, Financial) secured $300 million in new funding, with Blackrock (BLK) as a key investor, enhancing its financial position for developing hybrid aircraft platforms. Archer's total liquidity now stands at approximately $1 billion, with projected Q4 GAAP operating expenses between $120 million and $140 million. The company remains optimistic about its financial health and strategic advancements in the defense sector.
Humana (HUM, Financial) anticipates a ~10% decline in Medicare Advantage membership in 2025 due to market exits. Despite these challenges, Humana maintains its 2025 earnings outlook, forecasting $126B-$128B in revenue, surpassing analyst expectations. The company continues to navigate headwinds in the Medicare market while striving for financial stability.
Firefly Neuroscience (AIFF, Financial) saw its shares rise by 18% after joining NVIDIA's (NVDA, Financial) Connect program, which aids companies in accelerating market entry. Firefly will use NVIDIA's expertise to enhance its Brain Network Analytics platform, marking a significant step in its technological development and market positioning.
Coca-Cola (KO, Financial) exceeded expectations with its Q4 earnings, reporting a 6.5% increase in revenue to $11.5 billion and an EPS of $0.55. The company's strong performance was driven by significant organic sales growth, particularly in Latin America, Europe, the Middle East, Africa, and North America, outpacing its rival PepsiCo (PEP, Financial).
Lattice Semiconductor (LSCC) shares surged 14% despite mixed Q4 results, thanks to an optimistic outlook for Q1 2025. The company forecasts revenue between $115 million and $125 million, with a non-GAAP gross margin of 69%. Lattice anticipates a "U-shaped recovery" in 2025, driven by new product launches and inventory normalization.
Shopify (SHOP, Financial) reported a 31.3% increase in Q4 revenue to $2.81 billion, marking its seventh consecutive quarter of strong growth. The e-commerce giant's gross merchandise volume rose 26%, and its free cash flow grew by 37%, showcasing its robust financial performance and strategic focus on operational discipline.
GameStop (GME, Financial) shares jumped nearly 10% amid speculation of a potential strategy involving bitcoin. CEO Ryan Cohen's social media post with MicroStrategy's (MSTR) co-founder fueled discussions about GameStop's future plans, highlighting the market's sensitivity to cryptocurrency-related news.
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