Morning News Call

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  • TOP NEWS

    • Trump picks former Fed Governor Kevin Warsh to lead U.S. central bank, aiming for monetary policy "regime change."
    • Exxon Mobil beats Q4 profit targets, boosted by lower-cost oil from Permian Basin and Guyana.
    • Apple forecasts strong sales growth (up to 16%) for March quarter due to rebounding iPhone demand in Asia.
    • Chevron beats Q4 profit estimates, focusing on cost-cutting amid lower crude prices; sees potential in Venezuela.
    • Trump threatens Canada with aircraft tariffs and decertification of Bombardier jets over Gulfstream approvals.

  • BEFORE THE BELL

    • U.S. stock index futures trade lower after Trump's Fed pick.
    • Dollar strengthened; gold tumbled below $5,000.
    • Oil prices moved lower on potential U.S.-Iran nuclear dialogue.
    • European equities showed resilience, lifted by strong corporate earnings.
    • Emerging markets struggled, with most currencies and equities down.
    • Japan’s Nikkei closed lower, extending weekly losing streak.
    • China and Hong Kong equities slid sharply due to gold price fall and speculative trading warnings.

  • STOCKS TO WATCH

    • American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co & United Airlines Holdings Inc: Urged Congress to pay air traffic controllers during government shutdowns, citing significant economic impact.
    • Apple Inc: Forecasts 13-16% Q2 revenue growth; strong iPhone demand in Asia; rising memory chip prices pressure profitability; prioritizing high-end iPhone models.
    • Arthur J. Gallagher & Co: Q4 adjusted profit rose 24.5% due to higher commissions and fees.
    • Autoliv Inc: Forecasts lower Q1 profitability; Q4 adjusted operating profit fell.
    • Bank of America Corp: Judge ruled it must face part of a lawsuit alleging aid to Jeffrey Epstein's sex trafficking.
    • Chevron Corp: Q4 adjusted earnings beat estimates; focused on cost-cutting and efficiency; strong performance in key basins.
    • Deckers Outdoor Corp: Raised annual sales and profit forecast on strong demand for Hoka and UGG brands.
    • Exxon Mobil Corp: Beat Q4 earnings targets driven by lower-cost oil production; plans $20 billion in share buybacks through 2026.
    • Johnson & Johnson: Judge dismissed lawsuit alleging fraud in talc cancer bankruptcy strategy.
    • Marathon Petroleum Corp: United Steelworkers union rejected comprehensive contract offer.
    • Meta Platforms Inc: Set to face trial in New Mexico lawsuit accusing it of exposing children to sexual exploitation.
    • Nvidia Corp: China reportedly approved DeepSeek to buy H200 AI chips; Nvidia CEO unaware of final approval.
    • ResMed Inc: Beat Q2 profit estimates on strong demand for sleep apnea devices.
    • Visa Inc: Exceeded Q1 profit and revenue estimates due to increased card usage and consumer spending.
    • Wells Fargo & Co: CEO Charlie Scharf awarded $40 million in 2025 compensation, up 28%.
    • Western Digital Corp: Forecasted Q3 revenue above estimates, signaling continued growth from AI server demand.
    • Weyerhaeuser Co: Swung to adjusted quarterly loss due to lower wood product prices and sluggish demand.

  • ANALYSIS

    • U.S. allies are discovering they can hedge U.S. trade risk in goods, adapting relatively quickly.

  • ANALYSTS' RECOMMENDATION

    • Apple Inc: Melius Research raises target to $350 from $345.
    • Caterpillar Inc: Daiwa Capital Markets raises target to $640 from $595.
    • SanDisk Corp: Jefferies raises target to $700 from $600.
    • United Rentals Inc: JPMorgan cuts target to $970 from $1,150.

  • ECONOMIC EVENTS

    • PPI Machine Manufacturing for Dec
    • PPI final demand YY/MM for Dec
    • PPI ex-food/energy YY/MM for Dec
    • PPI ex-food/energy/transport YY/MM for Dec
    • Chicago PMI for Jan

  • COMPANIES REPORTING RESULTS

    • American Express Co: Expected Q4 earnings of $3.54 per share.
    • Charter Communications Inc: Expected Q4 earnings of $9.78 per share.
    • Church & Dwight Co Inc: Expected Q4 earnings of 84 cents per share.
    • Colgate-Palmolive Co: Expected Q4 earnings of 91 cents per share.
    • Franklin Resources Inc: Expected Q1 earnings of 55 cents per share.
    • LyondellBasell Industries NV: Expected Q4 earnings of 13 cents per share.
    • Regeneron Pharmaceuticals Inc: Expected Q4 earnings of $10.62 per share.

  • CORPORATE EVENTS

    • Air Products and Chemicals Inc: Q1 earnings conference call (0800 ET).
    • Verizon Communications Inc: Q4 earnings conference call (0800 ET).
    • Aon PLC: Q4 earnings conference call (0800 ET).
    • Regeneron Pharmaceuticals Inc: Q4 earnings conference call (0830 ET).
    • Charter Communications Inc: Q4 earnings conference call (0830 ET).
    • Colgate-Palmolive Co: Q4 earnings conference call (0830 ET).
    • American Express Co: Q4 earnings conference call (0830 ET).
    • Hartford Insurance Group Inc: Q4 earnings conference call (0900 ET).
    • Exxon Mobil Corp: Q4 earnings conference call (0930 ET).
    • Weyerhaeuser Co: Q4 earnings conference call (1000 ET).
    • Franklin Resources Inc: Q1 earnings conference call (1100 ET).
    • LyondellBasell Industries NV: Q4 earnings conference call (1100 ET).
    • Chevron Corp: Q4 earnings conference call (1100 ET).

  • EX-DIVIDENDS

    • AES Corp: $0.17
    • Prudential Financial Inc: $0.35
    • Lamb Weston Holdings Inc: $0.38
    • Alliant Energy Corp: $0.5
    • Realty Income Corp: $0.27
    • Targa Resources Corp: $1
    • A O Smith Corp: $0.36
    • Texas Instruments Inc: $1.4
    • Costco Wholesale Corp: $1.3
    • Morgan Stanley: $1

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