Good Morning!
On Wednesday, February 5, the S&P 500 closed at 6,061.48, up 0.87% from the previous trading session. The NASDAQ was up slightly 0.87%, finishing at 19,692.33. The Dow Jones Industrial Average was up 0.79% to close at 44,873.28. Meanwhile, the Russell 2000 rose 1.26%, ending the session at 2,316.23.
Crypto Highlights
Bitcoin (BTC): Currently trading at $98,208, down 0.65% over the past 24 hours.
Ethereum (ETH): Down 1.63%, now trading at $2,755 per coin.
Solana (SOL): Slid 5.04%, currently trading at $196.44.
Ripple (XRP): Down 5.88% in the last 24 hours, now trading at $2.39 per coin.
Headlines
Tesla Sales Plummet Across Europe Amid Backlash Against Elon Musk
Tesla’s vehicle sales have sharply declined across key European markets, with Germany seeing a 59.5% drop in registrations in January compared to the same month last year. According to the German Federal Motor Transport Authority, only 1,277 new Tesla cars were registered, despite the country being home to Tesla’s only European manufacturing plant. The decline comes even as Germany’s overall EV market grew by more than 50% year-over-year, pushing Tesla’s market share down from 14% to just 4%. Similar trends were observed in France, where Tesla sales fell 63%, and in Norway, which saw a 38% drop. The UK market also experienced an 8% decline in Tesla registrations.
Tesla vehicles are increasingly seen as lacking the prestige and status associated with brands like BMW, Porsche, and Mercedes-Benz, which offer a strong dealer network, trusted suppliers, and a legacy of engineering excellence. In contrast, Tesla’s direct-to-consumer model and minimalist interiors have left some buyers feeling they are purchasing a tech product rather than a luxury vehicle. Additionally, a cultural shift in perception has emerged, with European consumers viewing Teslas as vehicles lacking the masculine image of high-performance German brands. This perception, combined with Musk’s growing political controversies, has made the brand less appealing to status-conscious European buyers.
10-Year Treasury Yield Falls Below 4.5% on Supply Relief and Weak Economic Data
Treasury yields tumbled Wednesday, with the 10-year yield dropping 9 basis points to 4.421%, its lowest since December 17. The decline came after the Treasury Department reassured markets in its quarterly refunding announcement that it would not increase auction sizes for at least the next several quarters, easing concerns over a surge in supply. Additionally, weak economic data added to the downward pressure, as the ISM Services Index fell to 52.8% in January, below expectations and signaling slowing growth in the sector that employs over 80% of American workers.
Further driving the flight to safety were geopolitical concerns, particularly following former President Donald Trump’s proposal that the U.S. take ownership of Gaza. The Treasury rally gained momentum overnight, pushing long-term yields to their lowest levels of the year. Meanwhile, other economic data showed that U.S. businesses added 183,000 jobs in January, while the trade deficit soared nearly 25% in December to $98.4 billion—its second-highest level ever.
Bessent: Trump Focused on Lowering 10-Year Yields, Not Fed Rate Cuts
Treasury Secretary Scott Bessent emphasized that the Trump administration’s priority in reducing borrowing costs is lowering 10-year Treasury yields rather than pressuring the Federal Reserve for rate cuts. In a Fox Business interview, Bessent clarified that President Trump is not advocating for the Fed to cut interest rates but instead sees energy expansion as a key strategy to curb inflation. He highlighted that lowering gasoline and heating oil prices would ease financial pressure on working-class Americans and boost economic optimism. Bessent also reiterated that the administration’s broader economic strategy, known as the 3-3-3 plan, aims to reduce the fiscal deficit to 3% of GDP, increase oil production by 3 million barrels per day, and sustain 3% economic growth.
While Trump has criticized the Fed for its handling of inflation, Bessent maintained that Treasury policy will focus on market-driven approaches to lowering yields, such as deficit reduction and deregulation. He dismissed speculation that the Department of Government Efficiency (DOGE), led by Elon Musk, would interfere with Treasury payment systems, affirming that their role is limited to studying efficiency improvements. Additionally, he reinforced the administration’s commitment to making Trump’s 2017 tax cuts permanent, arguing that doing so would solidify the U.S. as the world’s leading economy for growth.
Record-High Imports Push U.S. Trade Deficit to $98.4 Billion in December
The U.S. trade deficit widened sharply by 24.7% in December, reaching $98.4 billion, its highest level since March 2022, as imports surged to a record $364.9 billion. The December increase marked the largest monthly rise in the trade gap since 2015, pushing the annual trade deficit to $918.4 billion for 2024, the largest since 2021. Analysts suggest that businesses may have rushed to import goods ahead of potential tariffs, particularly industrial supplies, finished metals, and computers. Meanwhile, exports fell 2.6% to $266.5 billion, driven by declines in consumer goods, capital goods, and industrial materials, leading to an 18.2% jump in the goods trade deficit, which reached a record $123.0 billion.
Trump Claims Gaza Will Be Handed Over to U.S. After Fighting Ends
President Donald Trump announced Thursday that Israel will transfer control of Gaza to the United States once hostilities in the region have ceased, adding that no U.S. troops would be needed to maintain stability. His remarks, made on Truth Social, suggested that Palestinians would be resettled elsewhere in the region in modern, safer communities. Trump also described plans for an ambitious redevelopment project in Gaza, calling it one of the most “spectacular developments of its kind on Earth.”
The proposal has sparked widespread backlash across the Arab world and among some U.S. lawmakers, who argue that forced displacement of Palestinians would violate international law and further destabilize the region. Senator Rand Paul criticized the plan, questioning how it aligns with Trump’s “America First” stance. Meanwhile, Israeli officials, including Defense Minister Israel Katz, have welcomed the idea, with Katz instructing the military to develop a plan for voluntary Palestinian departure. The announcement comes as Israel and Hamas engage in fragile negotiations over a prisoner exchange and a possible permanent ceasefire, though Israeli Prime Minister Benjamin Netanyahu has vowed to resume military operations to destroy Hamas.
Friday’s Jobs Report Will Be Complicated—Here’s What to Watch
The Labor Department’s January jobs report is expected to be one of the most complex in recent years, as it includes major revisions that will make past employment data appear stronger in some cases and weaker in others. These revisions, part of an annual recalibration process, aim to improve accuracy by incorporating more reliable but slower-to-collect data. However, the changes could create significant confusion, especially in a politically charged environment where skepticism about government economic statistics runs high. One major revision will lower previous job growth estimates, reducing 2023 and early 2024 employment gains by approximately 818,000 jobs, marking one of the largest downward adjustments since 2009. Meanwhile, another revision will increase labor force figures by about two million people due to improved Census Bureau population estimates, which had previously undercounted immigration.
Despite the revisions, January’s job growth is expected to remain solid, with forecasts suggesting employers added around 180,000 to 200,000 jobs for the month. The unemployment rate, which currently stands at 3.7%, is not expected to change significantly, as the population updates should not materially impact key ratio-based metrics such as labor force participation and unemployment rates.
Investors Bet on Faster Rate Cuts After BoE Lowers Interest Rates to 4.5%
The Bank of England (BoE) cut interest rates to 4.5% on Thursday, triggering market expectations of a faster pace of monetary easing in the months ahead. Traders are now fully pricing in two additional quarter-point cuts this year and assigning a 60% probability of a third cut, up from 35% before the decision. The rate reduction boosted UK stocks and gilts, with the FTSE 100 rising as much as 1.7% and short-term bond yields falling, as the two-year gilt yield declined 5 basis points to 4.09%. Meanwhile, the pound weakened by 1% to $1.239, reflecting expectations of a looser monetary policy.
At the same time, the BoE halved its 2025 GDP growth forecast to 0.75% from 1.5%, signaling a weaker-than-expected economic outlook. Inflation is projected to peak at 3.7% in Q3, slightly higher than previous estimates. The Office for Budget Responsibility (OBR) is now expected to revise its own growth forecasts downward, which could add further pressure on public finances.
ECB Warns Europe Could Be a Major Loser in U.S.-China Trade War
The European Central Bank (ECB) cautioned that Europe could face economic fallout from the escalating U.S.-China trade war, as tariffs imposed by Washington may push China to flood European markets with discounted goods. ECB board member Piero Cipollone warned that if President Trump intensifies trade tensions with China, it could disrupt global supply chains and undercut European growth and prices. With China producing 35% of the world’s manufacturing output, a redirection of its exports away from the U.S. could place downward pressure on European industries, particularly in manufacturing and exports.
Despite these risks, Cipollone stated that the ECB still has room for further interest rate cuts, as inflation is expected to fall back to 2% by summer. While the central bank has already lowered borrowing costs five times since June, markets are pricing in at least three more cuts in 2025 to support an economy struggling to recover from stagnation. However, rising energy costs and global trade uncertainty complicate policy decisions, making it difficult for the ECB to commit to a specific rate-cut timeline.
Bank of England Cuts Interest Rates to 4.5%, Signals More Easing Ahead
The Bank of England (BoE) cut its benchmark interest rate by 25 basis points to 4.5% on Thursday, marking its first reduction of 2025 and signaling that further cuts are likely as inflation moderates. Seven out of nine members of the Monetary Policy Committee (MPC) backed the cut, while two advocated for a larger 50 basis-point reduction. BoE Governor Andrew Bailey emphasized that rate cuts would continue as long as the disinflation process progresses, though decisions will be made on a meeting-by-meeting basis given ongoing economic uncertainties.
In addition to easing monetary policy, the BoE slashed its 2025 GDP growth forecast, cutting it from 1.5% to just 0.75%, amid signs of sluggish economic activity. Recent data showed the UK economy flatlined in Q3 2024, with GDP expanding just 0.1% in November after contracting 0.1% in October. Meanwhile, inflation dropped to 2.5% in December, bringing it closer to the central bank’s 2% target. The BoE also flagged risks from a potential trade war, as President Donald Trump’s proposed tariffs on key trading partners, including the EU and UK, could complicate economic recovery. While UK Chancellor Rachel Reeves welcomed the rate cut, she acknowledged that growth remains too weak, urging further investment in infrastructure and regulatory reforms to stimulate the economy.
Japan’s Wages Surge at Fastest Pace Since 1997, Boosting BOJ Rate Outlook and Strengthening Yen
Japan’s nominal wages surged 4.8% year-over-year in December, marking the fastest growth since 1997, driven largely by a jump in bonuses. The strong wage data supports the Bank of Japan’s (BOJ) recent rate hikes and has strengthened expectations for further monetary tightening. The news sent the yen up 0.8% to 153.17 against the U.S. dollar, leading gains among G-10 currencies, while Japanese government bond yields also rose as traders priced in a higher likelihood of additional rate increases.
The wage growth also boosted real wages, which rose for a second consecutive month despite ongoing inflation concerns. With Japan’s inflation remaining above 2% for nearly three years, BOJ Governor Kazuo Ueda has signaled that interest rates remain below neutral levels, leaving room for further hikes. Market pricing now suggests a 78% probability of another BOJ rate increase by July. However, the sustainability of wage growth will depend on upcoming spring wage negotiations, where major employers—including Asahi Breweries and Aeon Co.—are reportedly considering salary hikes of over 7%. While higher wages could bolster consumer spending, economists caution that yen weakness and rising import costs remain key risks for Japan’s inflation outlook.
Honda and Nissan’s $60 Billion EV Merger in Jeopardy
The ambitious Honda-Nissan EV partnership, which aimed to create the world’s third-largest automaker, is already on the verge of collapse. Despite signing a memorandum of understanding (MOU) in December 2024 to establish a joint EV holding company, Nissan reportedly informed Honda on Tuesday that it plans to pause merger talks, leading to a board meeting announcement on Wednesday where Nissan stated it is reconsidering the deal. According to Nikkei, disagreements over ownership structure are the main sticking point—Honda wants greater control due to concerns over Nissan’s turnaround strategy, while Nissan insists on equal ownership as originally planned.
With a combined 8 million annual sales, the partnership was expected to help Honda and Nissan compete with Tesla, BYD, and other rising EV giants. Nissan has already announced job cuts and production reductions in an effort to improve profitability, raising concerns about whether it can navigate the EV transition without Honda’s support. While both companies have downplayed reports of the deal’s collapse, a final decision is expected by mid-February.
Ford Expects Up to $5.5 Billion in EV Losses for 2025, Shares Slide
Ford Motor Co. warned on Wednesday that its electric vehicle and software division could lose up to $5.5 billion in 2025, mirroring last year’s losses and highlighting the automaker’s struggle to cut costs on battery-powered models. Despite forecasting overall profitability, the company’s earnings outlook for 2025 is weaker than 2024, sending shares down nearly 5% in after-hours trading. Ford’s fourth-quarter net profit came in at $1.8 billion, a sharp turnaround from a $500 million loss in the same quarter last year, driven in part by pension-related costs.
Amid growing economic and policy uncertainty, CEO Jim Farley warned that proposed 25% tariffs on Mexico and Canada could significantly impact Ford’s profits and the broader auto industry. The company has already cut back on EV investments, shelving a three-row electric SUV and delaying the next-generation F-150 Lightning. Instead, Ford is leaning on hybrids to sustain sales, as rivals like GM ramp up their EV production. The automaker remains cautious about pricing challenges in 2025 and has not factored potential tariffs into its outlook.
Google Predicts Commercial Quantum Computing Applications Within Five Years
Google expects to launch commercial quantum computing applications within five years, significantly ahead of Nvidia’s 20-year timeline, according to Hartmut Neven, founder and lead of Google Quantum AI. Speaking to Reuters on Wednesday, Neven expressed confidence that quantum computing will soon deliver real-world breakthroughs, particularly in materials science, drug discovery, and energy solutions. Potential applications include developing advanced batteries for electric vehicles, creating new pharmaceuticals, and revolutionizing energy alternatives.
The timeline for quantum computing’s mainstream adoption remains highly debated, with experts offering projections ranging from several years to multiple decades. Nvidia CEO Jensen Huang recently suggested that practical quantum applications are likely 15 to 30 years away, a forecast that led to an $8 billion decline in quantum computing stock valuations. However, Google has made key advancements, including solving a computing problem in minutes that would take classical computers billions of years. On Wednesday, Google researchers published a study in Nature detailing a new approach to quantum simulation, which could accelerate the path to real-world applications and reshape industries far sooner than expected.
AMD’s $4.9 Billion ZT Systems Acquisition Faces EU Antitrust Review by March 12
The European Commission will decide by March 12 whether to approve AMD’s $4.9 billion acquisition of server maker ZT Systems, according to an EU filing on Wednesday. The deal, announced in August 2024, aims to bolster AMD’s position in AI infrastructure and enhance its ability to compete with Nvidia in the growing artificial intelligence market.
EU regulators may clear the acquisition outright, impose conditions, or launch a deeper four-month investigation if they identify significant competition concerns. ZT Systems specializes in building AI-focused infrastructure for hyperscale computing, with major clients including Microsoft and Meta Platforms.
Qualcomm Says Arm Has Withdrawn License Breach Notice
Qualcomm CEO Cristiano Amon announced on Wednesday that Arm Holdings has officially withdrawn its threat to terminate Qualcomm’s license agreement, signaling a potential de-escalation in the dispute between the two companies. Arm had initially issued a breach notice in October 2024, questioning Qualcomm’s use of its technology in personal computer chips. However, Amon confirmed during Qualcomm’s first-quarter earnings call that Arm has now reversed course, stating that it has "no current plan to terminate" Qualcomm’s architecture license.
The dispute saw a major legal battle unfold, with Qualcomm winning key aspects of a December trial, where a jury ruled that its PC chips were properly licensed under its agreement with Arm. However, the jury was unable to reach a unanimous verdict on other elements of the case, leading Arm to file a motion for a new trial.
Japan’s AIST and Intel Partner to Develop Next-Gen Quantum Computer
Japan’s National Institute of Advanced Industrial Science and Technology (AIST) is partnering with Intel to develop a next-generation quantum computer, leveraging the U.S. chip giant’s advanced semiconductor technology. The collaboration, revealed by Nikkei, marks a significant step in Japan’s quantum computing ambitions as the government looks to accelerate research and industrial applications in the field.
Once completed, the quantum computer will be available to universities, research institutions, and businesses, including those in the pharmaceutical and financial sectors, on a paid-access basis. The initiative reflects Tokyo’s broader push to strengthen domestic technological capabilities while fostering global collaboration in cutting-edge computing.
Yesterday's Earnings
Walt Disney (DIS): Actual EPS: $1.76 (Beat by 21.38%), Expected EPS: $1.45, Actual Revenue: $24.7B (Met Expectations), Expected Revenue: $24.7B, Market Cap: $199.91B
Qualcomm (QCOM): Actual EPS: $3.41 (Beat by 14.81%), Expected EPS: $2.97, Actual Revenue: $11.67B (Beat by 6.77%), Expected Revenue: $10.93B, Market Cap: $183.41B
Arm (ARM): Actual EPS: $0.39 (Beat by 56.00%), Expected EPS: $0.25, Actual Revenue: $983M (Beat by 3.83%), Expected Revenue: $946.8M, Market Cap: $182.1B
Boston Scientific (BSX): Actual EPS: $0.70 (Beat by 6.06%), Expected EPS: $0.66, Actual Revenue: $4.56B (Beat by 3.40%), Expected Revenue: $4.41B, Market Cap: $154.71B
Uber Tech (UBER): Actual EPS: $3.21 (Beat by 555.10%), Expected EPS: $0.49, Actual Revenue: $12B (Beat by 1.95%), Expected Revenue: $11.77B, Market Cap: $135.78B
Fiserv (FI): Actual EPS: $2.51 (Beat by 0.80%), Expected EPS: $2.49, Actual Revenue: $5.25B (Beat by 5.85%), Expected Revenue: $4.96B, Market Cap: $130.58B
MicroStrategy (MSTR): Actual EPS: -$3.20 (Miss by 2,522.95%), Expected EPS: -$0.12, Actual Revenue: $120.7M (Miss by 1.87%), Expected Revenue: $123M, Market Cap: $84.89B
O’Reilly Automotive (ORLY): Actual EPS: $9.50 (Miss by 2.36%), Expected EPS: $9.73, Actual Revenue: $4.1B (Beat by 1.49%), Expected Revenue: $4.04B, Market Cap: $77.83B
McKesson (MCK): Actual EPS: $8.03 (Miss by 2.90%), Expected EPS: $8.27, Actual Revenue: $95.29B (Miss by 0.50%), Expected Revenue: $95.77B, Market Cap: $77.04B
Illinois Tool Works (ITW): Actual EPS: $2.54 (Beat by 1.60%), Expected EPS: $2.50, Actual Revenue: $3.9B (Miss by 2.26%), Expected Revenue: $3.99B, Market Cap: $75.08B
Emerson (EMR): Actual EPS: $1.38 (Beat by 7.81%), Expected EPS: $1.28, Actual Revenue: $4.17B (Miss by 1.42%), Expected Revenue: $4.23B, Market Cap: $71.05B
Aflac (AFL): Actual EPS: $1.56 (Miss by 3.70%), Expected EPS: $1.62, Actual Revenue: $5.4B (Beat by 27.69%), Expected Revenue: $4.23B, Market Cap: $59.6B
MetLife (MET): Actual EPS: $2.09 (Met Expectations), Expected EPS: $2.09, Actual Revenue: $18.67B (Miss by 3.16%), Expected Revenue: $19.28B, Market Cap: $58.86B
Johnson Controls (JCI): Actual EPS: $0.64 (Beat by 8.47%), Expected EPS: $0.59, Actual Revenue: $5.43B (Beat by 1.12%), Expected Revenue: $5.37B, Market Cap: $56.78B
Allstate (ALL): Actual EPS: $7.67 (Beat by 34.56%), Expected EPS: $5.70, Actual Revenue: $16.5B (Beat by 3.38%), Expected Revenue: $15.96B, Market Cap: $51.11B
Cencora Inc (COR): Actual EPS: $3.73 (Beat by 6.87%), Expected EPS: $3.49, Actual Revenue: $81.5B (Beat by 4.19%), Expected Revenue: $78.22B, Market Cap: $49.1B
Corteva (CTVA): Actual EPS: $0.32 (Met Expectations), Expected EPS: $0.32, Actual Revenue: $4B (Miss by 1.72%), Expected Revenue: $4.07B, Market Cap: $43.86B
Cognizant A (CTSH): Actual EPS: $1.21 (Beat by 8.04%), Expected EPS: $1.12, Actual Revenue: $5.08B (Met Expectations), Expected Revenue: $5.08B, Market Cap: $41.45B
Old Dominion Freight Line (ODFL): Actual EPS: $1.23 (Beat by 5.13%), Expected EPS: $1.17, Actual Revenue: $1.39B (Met Expectations), Expected Revenue: $1.39B, Market Cap: $41.34B
Ford Motor (F): Actual EPS: $0.39 (Beat by 7.42%), Expected EPS: $0.36, Actual Revenue: $48.2B (Beat by 0.86%), Expected Revenue: $47.79B, Market Cap: $39.78B
AvalonBay (AVB): Actual EPS: $1.98 (Beat by 54.69%), Expected EPS: $1.28, Actual Revenue: $670.15M (Miss by 9.29%), Expected Revenue: $738.72M, Market Cap: $31.86B
CDW Corp (CDW): Actual EPS: $2.48 (Beat by 6.44%), Expected EPS: $2.33, Actual Revenue: $5.19B (Beat by 4.64%), Expected Revenue: $4.96B, Market Cap: $27.47B
Corpay (CPAY): Actual EPS: $5.36 (Beat by 0.75%), Expected EPS: $5.32, Actual Revenue: $1.03B (Miss by 2.83%), Expected Revenue: $1.06B, Market Cap: $27.09B
T Rowe (TROW): Actual EPS: $2.12 (Miss by 4.07%), Expected EPS: $2.21, Actual Revenue: $1.82B (Miss by 3.19%), Expected Revenue: $1.88B, Market Cap: $24.69B
Earnings Today
Amazon.com (AMZN): Expected EPS: $1.47, Expected Revenue: $187.33B, Market Cap: $2.51T
Eli Lilly (LLY): Actual EPS: $5.32 (Beat by 0.38%), Expected EPS: $5.30, Actual Revenue: $13.53B (Miss by 1.81%), Expected Revenue: $13.78B, Market Cap: $763.88B
AstraZeneca ADR (AZN): Actual EPS: $2.09 (Beat by 97.17%), Expected EPS: $1.06, Actual Revenue: $14.89B (Beat by 5.23%), Expected Revenue: $14.15B, Market Cap: $229.23B
Linde PLC (LIN): Actual EPS: $3.97 (Beat by 0.51%), Expected EPS: $3.95, Actual Revenue: $8.28B (Miss by 1.54%), Expected Revenue: $8.41B, Market Cap: $213.33B
Philip Morris (PM): Actual EPS: $1.49 (Miss by 0.67%), Expected EPS: $1.50, Actual Revenue: $9.71B (Beat by 2.21%), Expected Revenue: $9.5B, Market Cap: $203.65B
Honeywell (HON): Actual EPS: $2.47 (Beat by 0.41%), Expected EPS: $2.46, Actual Revenue: $10.1B (Beat by 1.30%), Expected Revenue: $9.97B, Market Cap: $138.59B
ConocoPhillips (COP): Actual EPS: $1.98 (Beat by 10.61%), Expected EPS: $1.79, Actual Revenue: --, Expected Revenue: $14.27B, Market Cap: $129.63B
Bristol-Myers Squibb (BMY): Actual EPS: $1.67 (Beat by 13.61%), Expected EPS: $1.47, Actual Revenue: $12.34B (Beat by 6.94%), Expected Revenue: $11.54B, Market Cap: $121.1B
ICE (ICE): Actual EPS: $1.52 (Miss by 0.65%), Expected EPS: $1.53, Actual Revenue: $2.32B (Miss by 1.28%), Expected Revenue: $2.35B, Market Cap: $92.27B
Fortinet (FTNT): Expected EPS: $0.6062, Expected Revenue: $1.59B, Market Cap: $80.53B
Air Products (APD): Actual EPS: $2.86 (Beat by 0.35%), Expected EPS: $2.85, Actual Revenue: $2.93B (Miss by 1.01%), Expected Revenue: $2.96B, Market Cap: $74.09B
Becton Dickinson (BDX): Actual EPS: $3.43 (Beat by 14.71%), Expected EPS: $2.99, Actual Revenue: $5.17B (Beat by 1.17%), Expected Revenue: $5.11B, Market Cap: $68.89B
Hilton Worldwide (HLT): Actual EPS: $1.76 (Beat by 5.39%), Expected EPS: $1.67, Actual Revenue: $2.78B (Beat by 0.36%), Expected Revenue: $2.77B, Market Cap: $62.86B
Kenvue (KVUE): Actual EPS: $0.26 (Miss by 16.13%), Expected EPS: $0.31, Actual Revenue: $3.7B (Miss by 6.33%), Expected Revenue: $3.95B, Market Cap: $39.76B
Xcel Energy (XEL): Actual EPS: $0.81 (Miss by 8.99%), Expected EPS: $0.89, Actual Revenue: $3.12B (Miss by 17.27%), Expected Revenue: $3.77B, Market Cap: $39.02B
IQVIA Holdings (IQV): Actual EPS: $3.12 (Beat by 0.32%), Expected EPS: $3.11, Actual Revenue: $3.96B (Beat by 0.76%), Expected Revenue: $3.93B, Market Cap: $37.29B
Yum! Brands (YUM): Actual EPS: $1.61 (Met Expectations), Expected EPS: $1.61, Actual Revenue: $2.36B (Met Expectations), Expected Revenue: $2.36B, Market Cap: $36.63B
Take-Two (TTWO): Expected EPS: $0.5938, Expected Revenue: $1.39B, Market Cap: $32.48B
Monolithic (MPWR): Expected EPS: $3.98, Expected Revenue: $608.09M, Market Cap: $31.9B
Equifax (EFX): Actual EPS: $2.12 (Beat by 0.47%), Expected EPS: $2.11, Actual Revenue: $1.42B (Miss by 1.39%), Expected Revenue: $1.44B, Market Cap: $31.69B
Hershey Co (HSY): Actual EPS: $2.69 (Beat by 13.03%), Expected EPS: $2.38, Actual Revenue: $2.89B (Beat by 1.76%), Expected Revenue: $2.84B, Market Cap: $29.53B
Mettler-Toledo (MTD): Expected EPS: $11.72, Expected Revenue: $1.01B, Market Cap: $28.77B
Microchip (MCHP): Expected EPS: $0.2945, Expected Revenue: $1.05B, Market Cap: $28.73B
Kellanova (K): Actual EPS: $0.92 (Beat by 10.84%), Expected EPS: $0.83, Actual Revenue: $3.12B (Beat by 0.32%), Expected Revenue: $3.11B, Market Cap: $28.22B
FirstEnergy (FE): Expected EPS: $0.7133, Expected Revenue: $4.36B, Market Cap: $23.18B
Expedia (EXPE): Expected EPS: $2.02, Expected Revenue: $3.07B, Market Cap: $21.78B
