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Pre-market futures have come back up for air this morning, after spending much of this trading week in the red — most notably yesterday. What began as a rotation out of high-priced, highly speculative AI and other software eventually turned “risk off” across the board.
Bargain hunters are pushing indexes into the green at this hour: the Dow is +267 points, +0.54%, while the S&P 500 is +40 points, +0.59%. Even better this morning are the tech-heavy Nasdaq — +186, +0.76% — and the small-cap Russell 2000: +35, +1.39%. Only the Dow and the Russell are in the green over the past five trading days.
Super Bowl LX: A Boon for Betting"
In years past, we’d discussed Super Bowl Sunday in terms of consumer spending, in that it represents the appetite of the consumer around one single even for the first time since New Year’s. (We actually get a preliminary Consumer Sentiment Survey from the University of Michigan out after the opening bell this morning.)
But with the onset of publicly traded companies in the betting market, there’s another avenue to look at. What we’re seeing is a slight uptick at this hour for companies like Draft Kings DKNG and FanDuel parent Flutter EntertainmentFLUT (another competitor, Kalshi, is still privately owned). This is good, but kind of a drop in the bucket: DKNG and FLUT are down -26% and -30% year to date, already. Perhaps a riveting Super Bowl game will drive business for both firms.
Earnings Reports This Morning at a Glance
We’re past the busiest days of Q4 earnings season reportage for the week, but it picks up again next week — what it will lack in Mag 7 companies reporting it will make up in sheer numbers of companies. These will include Coca-ColaKO, FordF and CiscoCSCO, among many others.
UnderArmour UAA posted a huge earnings surprise this morning, swinging to a positive +$0.09 per share from -$0.02 expected, for a +550% outperformance. Revenues also came ahead of estimates to $1.33 billion by +1.47%. Shares are up +3.8% in early trading on the news. For more on UAA’s earnings, click here.
MS and Alzheimers biotech treatment maker BiogenBIIB also posted a big beat on its bottom line, with earnings of $1.99 per share taking out the $1.61 estimate by +23.6%. Revenues of $2.28 billion surpassed expectations by +3.1% (though down from $2.40 billion reported a year ago). Shares are up +1.2% at this hour. For more on BIIB’s earnings, click here.
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Solid AI traction and healthy demand for networking products are growth drivers. A strong liquidity position and healthy growth in free cash flow are tailwinds.
Columbia Sportswear gains momentum with its ACCELERATE strategy, strong brand innovation, cost-efficiency programs and solid financial health, positioning it for sustained growth ahead.
Air Products and Chemicals (APD)Upgraded: 02/05/26
Air Products has a strong project backlog. Moreover, strategic investments in high-return projects, new business deals, cost cuts and acquisitions should drive its results.
UMB Financial benefits from revenue strength aided by rising loan and deposit balances along with diversified fee income. Also, steady capital distributions are backed by a decent liquidity position.
Palantir's AI strategy, its modular approach, exposure to a secular growth market like defense and a loyal customer base support growth. A strong balance sheet promises continued investor interest.
The label expansion of Cabometyx is a massive boost for the company. The company’s efforts to develop cabozantinib for various other indications are also encouraging.
End-to-end product lifecycle management, technological prowess, customer-oriented strategy and strong liquidity position are major growth drivers for Sanmina.
Exposure to catastrophe loss inducing underwriting volatility and rising expenses that result in margin contraction are some of the headwinds faced by the company.
Sherwin-Williams faces headwinds from a weak demand environment. The slowdown in housing markets may affect results. High interest expenses and input costs are also a concern.
Broadcom is a leading player in the semiconductor market based on its expanding product portfolio, multiple target markets, accretive acquisitions and strong cash flow.
Strength in the Energy Generation/Storage business, balance sheet strength, and focus on autonomous driving, robotics and artificial intelligence are set to drive Tesla.
Central Garden & Pet advances digital, supply chain and product innovation while driving margin gains and M&A, backed by strong financials and a focused Cost and Simplicity program.
