- Wall Street experiences slight gains at the U.S. session's opening; the U.S. dollar continues to weaken.
- Shares of Airbnb, Leggett & Platt, and Wynn Resorts are rising; ADRs of Chinese companies continue their upward trend
- Intel gains 4%, marking its strongest weekly winning streak in 43 years.
- U.S. retail sales data disappoint, while industrial production slightly exceeds forecasts.
A weaker U.S. dollar and lower yields improve market sentiment; yields on 10-year U.S. Treasury bonds have fallen from 4.64% at the beginning of the week to just under 4.48% currently. The lower retail sales reading gives Wall Street hope that CPI growth in the coming months is not guaranteed. Recovery is seen in select semiconductor companies, with Intel leading the gains; Applied Materials suffers significant losses due to export restrictions to China.
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Chinese stocks, banks, the automotive sector, and oil and gas companies lead gains in the U.S. today. Shares of companies in the electronics, insurance, and household products sectors are declining. Source: xStation5
Company News
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Airbnb (ABNB.US): Shares rise 14% after the travel-focused company reported fourth-quarter results that beat expectations and provided positive forecasts. Baird analysts upgraded their recommendation to "outperform," citing a very "strong finish" to the past year.
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Applied Materials (AMAT.US): Shares fell 5% after the semiconductor equipment manufacturer forecasted second-quarter net sales below the average analyst estimates. The market indicates that export restrictions related to China negatively impact the company's sales forecasts.
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Chinese Companies: Shares listed in the U.S. are rising as a potential meeting between the country's top leaders and Alibaba co-founder Jack Ma has strengthened market confidence that Beijing may adopt an increasingly supportive approach to the private enterprise sector and capital market. Alibaba (BABA.US) rose 6%, Baidu (BIDU.US) 3%, and PDD (PDD.US) nearly 4%.
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Coinbase Global (COIN.US): Shares are down 3%, even though the cryptocurrency exchange operator reported total fourth-quarter revenue exceeding estimates, with results driven by a rally in digital assets linked to President Donald Trump's re-election.
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Crispr Therapeutics (CRSP): Shares rose 7% after Evercore ISI upgraded the biotech company to "outperform" from "neutral."
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Intel (INTC.US): Shares continue to rise, putting the chipmaker on track for its biggest weekly gain since at least 1982. The stock has gained 26% this week amid reports of possible U.S. government involvement in a plan involving both Intel and TSMC.
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SoundHound AI (SOUN), Serve Robotics (SERV), and Nano-X Imaging (NNOX): Shares fell in pre-market trading after Nvidia filed a 13F report indicating that the chipmaker exited its stakes in these companies.
Moderna Attempts to Rebound
Moderna (MRNA.US) shares opened nearly 10% lower but are now up 2%, even though the vaccine-focused company reported another larger-than-expected quarterly loss. The loss per share was -$2.91 versus a forecast of -$2.68. Revenue fell by 66% year-over-year, with COVID-19 vaccine sales in line with forecasts at $923 million. The operating loss was -$1.25 billion, compared to the market expectation of -$1.13 billion. Cash and equivalents stood at $1.93 billion, below the expected $2.12 billion. The company forecasts lower CAPEX of $400 million for 2025, compared to the projected $463 million, and revenue between $1.5 and $2.5 billion, where expectations were $2.43 billion; it plans to cut costs by $1 billion this year.
Source: xStation5
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