CrowdStrike reports Q4 beat, Jazz to acquire Chimerix: Morning Buzz

The major averages opened the season broadly lower, with the Dow and S&P 500 continuing yesterday’s declines amid ongoing uncertainty around President Trump’s tariffs. However, Commerce Secretary Howard Lutnick’s hints at potential tariff relief for Canada and Mexico have bolstered investor sentiment, suggesting a possible easing of trade disputes and helping the averages move narrowly into the green at midday.

On the commodities front, gold continued its ascent while oil was nearly 4% lower, declining for a third consecutive session.  This downturn is attributed to a decision for OPEC+ to increase production starting in April and lingering concerns over U.S. tariffs impacting global economic growth. 

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• CrowdStrike (CRWD) reported better-than-expected Q4 results and provided guidance for Q1 and FY25
• Foot Locker (FL) reported upbeat Q4 earnings and revenue and provided guidance for FY25
• Campbell’s (CPB) reported mixed Q2 results and cut its FY25 earnings and revenue outlook
• Jazz Pharmaceuticals (JAZZ) agreed to acquire Chimerix (CMRX) for $8.55 per share in cash
• Tesla (TSLA) has signed a lease for a deal for its first showroom in India, Reuters says

2. WALL STREET CALLS:

• Palantir (PLTR) upgraded at William Blair, here’s why
• Loop Capital upgraded Royal Caribbean (RCL) to Buy after analyst day
• GE Vernova (GEV) upgraded to Buy at Guggenheim following pullback
• Arete cut AppLovin (APP) to Sell on “failing” e-commerce growth story
• T-Mobile (TMUS) downgraded to Hold on valuation at HSBC

3. AROUND THE WEB:

• Google (GOOGL) representatives asked DOJ officials in a meeting last week to back away from a push to break up the company, citing national security concerns, Bloomberg reports
• CoreWeave (CRWV) is in talks to acquire Weights & Biases, whose tools help developers build AI apps, for around $1.7B, The Information says
• Disney (DIS) is planning to reduce the headcount of the total workforce of ABC News and Disney Entertainment Networks by about 6%, Reuters reports
• Sony (SONY) and Suntory (STBFY) are stockpiling inventory in the U.S. as their peers shift production or supply chains to fend off the evolving threat of U.S. tariffs, Reuters says
• Tesla’s (TSLA) German sales fell 76% in February to 1,429 cars, Reuters says

4. MOVERS:

• Eos Energy (EOSE) gains after reporting Q4 results and announcing leadership changes
• Full Truck Alliance (YMM) increases in New York after reporting quarterly results and announcing an extension to its share repurchase program
• ChromaDex (CDXC) and OppFi (OPFI) higher after reporting quarterly results
• Credo Technology (CRDO) lower in New York after reporting Q3 results and providing guidance for Q4
• Golden Ocean (GOGL) falls in New York after CMB.TECH (CMBT) acquired a stake in the stock for $14.49 per share

5. EARNINGS/GUIDANCE:

• Abercrombie & Fitch (ANF) reported Q4 results and provided guidance for Q1 and FY25
• AeroVironment (AVAV) reported Q3 results and cut its guidance for FY25
• Stratasys (SSYS) reported Q4 results, with EPS beating consensus
• Thor Industries (THO) reported Q2 results, with CEO Bob Martin commenting, “”Our second quarter results were in line with our expectations going into the quarter”
• Byrna Technologies (BYRN) reported preliminary Q1 results

INDEXES:

Near midday, the Dow was up 0.39%, or 167.94, to 42,688.93, the Nasdaq was up 0.05%, or 9.69, to 18,294.85, and the S&P 500 was up 0.07%, or 4.17, to 5,782.32.