The S&P 500 futures are slightly down by one point, while Nasdaq 100 futures rise by 20 points. Dow Jones Industrial Average futures see a decline of 50 points.
Early trading shows mixed results. The market is influenced by rising rates and tariff discussions. The 10-year yield increases to 4.57%.
President Trump announced a potential 25% auto tariff rate starting on April 2. He is also considering tariffs on pharmaceuticals and semiconductors.
Upcoming economic data today includes the MBA Mortgage Applications Index, which fell by 6.6%. Housing Starts and Building Permits for January will be released at 8:30 ET. The market will also review the Minutes for the January 28-29 FOMC meeting at 2:00 ET.
Nikola Corporation (NKLA, Financial) has filed for Chapter 11 bankruptcy, seeking to restructure under the U.S. Bankruptcy Code. The company plans to continue limited operations for its trucks and HYLA fueling operations until March. Nikola has $47 million in cash to support these activities and aims to find partners to sustain operations post-March.
Arista Networks (ANET, Financial) saw its shares dip 4.2% despite positive fourth-quarter results and 2025 guidance linked to a surge in AI-related spending. Arista remains optimistic about its revenue from Meta, anticipating significant growth as backend networks increasingly adopt Ethernet technology.
Tesla (TSLA, Financial) is advancing its plans to enter the Indian market, having chosen locations for showrooms in New Delhi and Mumbai. The company is considering importing vehicles from its Berlin plant, focusing on the Model Y SUV, which suits the Indian market's right-hand drive configuration.
Alibaba Group (BABA, Financial) has expanded its cloud computing services by launching its first cloud region in Mexico. This move aims to enhance Mexico's status as a regional tech hub and broaden Alibaba Cloud's global reach, adding to its 87 availability zones across 29 regions.
Palantir Technologies (PLTR, Financial) has partnered with SAUR to enhance contract management using Palantir Foundry's AI capabilities. This collaboration aims to improve compliance and streamline operations by transforming complex datasets into actionable intelligence.
Shift4 Payments (FOUR, Financial) announced a $2.5 billion acquisition of Global Blue (GB), offering a 15% premium per share. The deal will integrate Global Blue's solutions into Shift4's platform, although Shift4's shares fell 9% following the announcement.
Workday (WDAY, Financial) was downgraded by Morgan Stanley due to concerns over its growth trajectory. Despite some positive trends in financial services adoption, the firm's overall growth has not met expectations, prompting a lower rating and price target adjustment.
Analog Devices (ADI, Financial) posted better-than-expected results for its first fiscal quarter, with shares rising 5% premarket. The company reported revenue and earnings above forecasts, driven by improving cyclical dynamics and new business wins.
Perion Network (PERI, Financial) shares dropped ~13% after reporting a 45% decline in fourth-quarter revenue. The company's full-year sales forecast also fell short of estimates, with a focus on more profitable solutions aligned with its growth strategy.
Wingstop (WING, Financial) missed sales estimates in its Q4 earnings report, leading to a drop in its stock. Despite a 27.6% increase in system-wide sales, the company faced higher costs and a challenging comparable from the previous year.
Roper Technologies (ROP, Financial) is considering selling its Neptune Technology Group unit, potentially valuing the deal at $4 billion. The industrial software company is exploring interest from private equity firms, although no final decision has been made.
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