Neurogene Inc., a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease. It has a license agreement with The University of North Carolina, the University of Edinburgh, Virovek, Inc., and Sigma-Aldrich Co. LLC. The company is headquartered in New York, New York.

Neurogene Inc.

The S&P 500 Index ($SPX) (SPY) Monday closed up +0.39%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.71%.
Stocks on Monday settled mixed, with the Dow Jones Industrials falling to a 1-1/2 week low. The broader market found support on Monday as some positive corporate news boosted technology stocks. Tesla closed up more than +5% after Bloomberg reported that President-elect Trump’s transition team members have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities. Also, Advance Micro Devices closed up more than +3% after IBM reported it entered into a pact with the company to supply it with MI300x accelerator chips for its cloud network. Bond yields on Monday gave up an early advance and turned lower, another supportive factor for stocks.
The Dow Jones Industrials fell to a 1-1/2 week low Monday due to a -2% fall in Nike after TD Cowen cut its price target on the stock, saying they are more cautious about the company’s business after meeting with channel contacts and fieldwork. Also, Nvidia closed down more than -1% to weigh on the Dow Jones industrials after the Information reported that Nvidia asked its suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Monday’s US economic news showed the Nov NAHB housing market index unexpectedly rose +3 to a 7-month high of 46, stronger than expectations of a decline to 42.
The markets will look for news on US Oct housing starts and building permits on Tuesday for direction. Also, the quarterly earnings results from Walmart and Lowe’s will be scoured on Tuesday to see if consumer spending continues to hold up. On Wednesday, the markets will look to earnings results from Nvidia to see if future demand for its AI Blackwell chips will continue after reports said Nvidia has asked suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Of the 90% of companies in the S&P 500 that have released Q3 earnings so far, 75% surpassed the estimates, slightly below the 3-year average. According to Bloomberg Intelligence, companies in the S&P 500 have reported an average +8.5% y/y increase in quarterly earnings in Q3, more than double the preseason forecast.
The markets are discounting the chances at 58% for a -25 bp rate cut at the December 17-18 FOMC meeting.
Overseas stock markets on Monda settled lower. The Euro Stoxx 50 closed down -0.09%. China's Shanghai Composite Index fell to a 1-1/2 week low and closed down -0.21%. Japan's Nikkei Stock 225 dropped to a 2-week low and closed down -1.09%.
Interest Rates
December 10-year T-notes (ZNZ24) Monday closed up +4 ticks. The 10-year T-note yield fell -2.9 bp to 4.401%. T-notes Monday recovered from early losses and settled moderately higher as short covering emerged on reports that President-elect Trump’s key advisers are signaling support for Keven Warsh as the next Treasury Secretary. The appointment of Warsh, a former Fed governor known as a hawk who has warned about surging debt burdens, would be seen as a sign of stability and someone who would push back against some of the most extreme tariff scenarios Trump has discussed.
T-notes Monday initially opened lower on carryover pressure from weakness in European government bonds. Also, Monday’s unexpected increase in the US NAHB Nov house market index to a 7-month high was hawkish for Fed policy and bearish for T-notes.
European government bond yields on Monday were mixed. The 10-year German bund yield rose +1.8 bp to 2.373%. The 10-year UK gilt yield fell -0.6 bp to 4.465%.
ECB Governing Council member and Bundesbank President Nagel said if international tensions should intensify, this could lead to greater inflationary pressures or increased volatility in consumer-price growth, and central banks might have to react with higher interest rates.
ECB Governing Council member Stournaras warned that economic activity could weaken and the Eurozone could fall into recession if the US imposes additional tariffs.
Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 17% for a -50 bp rate cut at the same meeting.
US Stock Movers
Super Micro Computer (SMCI) closed up more than +13% to lead gainers in the S&P 500 and Nasdaq 100 ahead of a deadline for the company to either file a delayed 10-K annual report or submit a plan to file the form to Nasdaq to remain listed on the exchange.
Tesla (TSLA) closed up more than +5% after Bloomberg reported that President-elect Trump’s transition team members have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities.
Henry Schein (HSIC) closed up more than +7% after Reuters reported that Ananym Capital Management is urging the company to refresh its board, cut costs, tackle succession planning and consider selling its medical distribution business.
Advanced Micro Devices (AMD) closed up more than +3% after IBM reported it entered into a pact with the company to supply it with MI300x accelerator chips for its cloud network.
Moderna (MRNA) closed up more than 7% after HSBC upgraded the stock to buy from hold with a price target of $58.
Dell Technologies (DELL) closed up more than +3% after Mizuho Securities raised its price target on the stock to $155 from $135.
Shift4 Payments (FOUR) closed up more than +3% after S&P Dow Jones Indices said the company will replace R1 RCM in the S&P MidCap 400 Index before the opening of trading on November 20.
Newmont (NEM) closed up more than +2% after it agreed to sell its Musselwhite operation to Orla Mining Ltd for $850 million.
Palantir Technologies (PLTR) closed down more than -6% on signs of insider selling after an SEC filing showed founder Karp sold $3.99 million of shares from last Wednesday to last Friday.
Nike (NKE) closed down more than -2% to lead losers in the Dow Jones Industrials after TD Cowen cut its price target on the stock to $73 from $78, saying they are more cautious on the company’s business after meeting with channel contacts and fieldwork.
Nvidia (NVDA) closed down more than -1% after the Information reported the company had asked its suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Neurogene (NGNE) closed down more than -44% after it paused the use of the higher 3E15 vg dose of its NGN-401 for treating Rett syndrome.
IQVIA Holdings (IQV) closed down more than -1% after Mizuho Securities cut its price target on the stock to $247 from $277.
Biogen (BIIB) closed down more than -1% after Needham downgraded the stock to hold from buy, saying it does not see a “meaningful source of upside” for the stock in the next 12 months.
Okta Inc (OKTA) closed down more than -1% after OTR Global downgraded the stock to negative from neutral.
Earnings Reports (11/19/2024)
Amer Sports Inc (AS), AZEK Co Inc/The (AZEK), Dolby Laboratories Inc (DLB), Jacobs Solutions Inc (J), Keysight Technologies Inc (KEYS), Lowe's Cos Inc (LOW), Medtronic PLC (MDT), Valvoline Inc (VVV), Walmart Inc (WMT), XP Inc (XP).
More news from Barchart
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mostly Higher on Tech Stock Strength and Lower Bond Yields

The S&P 500 Index ($SPX) (SPY) today is up +0.43%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.01%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.91%.
Stocks today are mostly higher on some positive corporate news. Tesla is up more than +8% after Bloomberg reported that President-elect Trump’s transition team members have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities. Also, Advance Micro Devices is up more than +3% after IBM reported it entered into a pact with the company to supply it with MI300x accelerator chips for its cloud network.
Higher bond yields today are limiting the upside in stocks, with the 10-year T-note yield up +1.2 bp today to 4.451%, just below last Friday’s 5-1/2 month high of 4.501%, on anxiety that President-elect Trump’s isolationist policies will revive inflation and deter interest rate cuts from the Fed. Also, the Dow Jones Industrials fell to a 1-1/2 week low, with Nike down more than -3% after TD Cowen cut its price target on the stock, saying they are more cautious about the company’s business after meeting with channel contacts and fieldwork.
Today’s US economic news showed the Nov NAHB housing market index unexpectedly rose +3 to a 7-month high of 46, stronger than expectations of a decline to 42.
The markets will look for news on US Oct housing starts and building permits on Tuesday for direction. Also, the quarterly earnings results from Walmart and Lowe’s will be scoured on Tuesday to see if consumer spending continues to hold up. On Wednesday, the markets will look to earnings results from Nvidia to see if future demand for its AI Blackwell chips will continue after reports said Nvidia has asked suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Of the 90% of companies in the S&P 500 that have released Q3 earnings so far, 75% surpassed the estimates, slightly below the 3-year average. According to Bloomberg Intelligence, companies in the S&P 500 have reported an average +8.5% y/y increase in quarterly earnings in Q3, more than double the preseason forecast.
The markets are discounting the chances at 62% for a -25 bp rate cut at the December 17-18 FOMC meeting.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.40%. China's Shanghai Composite Index fell to a 1-1/2 week low and closed down -0.21%. Japan's Nikkei Stock 225 dropped to a 2-week low and closed down -1.09%.
Interest Rates
December 10-year T-notes (ZNZ24) today are down -4 ticks. The 10-year T-note yield is up +1.2 bp to 4.451%. T-notes are moderately lower today on carryover pressure from weakness in European government bonds. Also, today’s unexpected increase in the US NAHB Nov house market index t a 7-month high was hawkish for Fed policy and bearish for T-notes. In addition, concern that President-elect Trump’s isolationist policies will revive inflation and deter interest rate cuts from the Fed is weighing on T-note prices.
European government bond yields today are moving higher. The 10-year German bund yield is up +2.7 bp to 2.383%. The 10-year UK gilt yield is up +0.6 bp to 4.477%.
ECB Governing Council member and Bundesbank President Nagel said if international tensions should intensify, this could lead to greater inflationary pressures or increased volatility in consumer-price growth, and central banks might have to react with higher interest rates.
Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 19% for a -50 bp rate cut at the same meeting.
US Stock Movers
Super Micro Computer (SMCI) is up more than +12% to lead gainers in the S&P 500 and Nasdaq 100 ahead of a deadline for the company to either file a delayed 10-K annual report or submit a plan to file the form to Nasdaq to remain listed on the exchange.
Tesla (TSLA) is up more than +8% after Bloomberg reported that President-elect Trump’s transition team members have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities.
Advanced Micro Devices (AMD) is up more than +3% after IBM reported it entered into a pact with the company to supply it with MI300x accelerator chips for its cloud network.
Dell Technologies (DELL) is up more than +4% after Mizuho Securities raised its price target on the stock to $155 from $135.
Moderna (MRNA) is up more than 3% after HSBC upgraded the stock to buy from hold with a price target of $58.
Shift4 Payments (FOUR) is up more than +5% after S&P Dow Jones Indices said the company will replace R1 RCM in the S&P MidCap 400 Index prior to the opening of trading on November 20.
Newmont (NEM) is up more than +2% after it agreed to sell its Musselwhite operation to Orla Mining Ltd for $850 million.
Hewlett Packard Enterprise (HPE) is up more than +2% after Raymond James upgraded the stock to strong buy from outperform with a price target of $29.
Nvidia (NVDA) is down more than -1% after the Information reported the company had asked its suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Palantir Technologies (PLTR) is down more than -6% to lead losers in the S&P 500 on signs of insider selling after an SEC filing showed founder Karp sold $3.99 million of shares from last Wednesday to last Friday.
Nike (NKE) is down more than -3% to lead losers in the Dow Jones Industrials after TD Cowen cut its price target on the stock to $73 from $78, saying they are more cautious on the company’s business after meeting with channel contacts and fieldwork.
Neurogene (NGNE) is down more than -40% after it paused the use of the higher 3E15 vg dose of its NGN-401 for treating Rett syndrome.
IQVIA Holdings (IQV) is down more than -2% after Mizuho Securities cut its price target on the stock to $247 from $277.
Biogen (BIIB) is down more than -1% after Needham downgraded the stock to hold from buy, saying it does not see a “meaningful source of upside” for the stock in the next 12 months.
Charles River Laboratories International (CRL) is down more than -1% after CLSA downgraded the stock to underperform from hold with a price target of $164.
Earnings Reports (11/18/2024)
AECOM (ACM), BellRing Brands Inc (BRBR), Bit Digital Inc (BTBT), Critical Metals Corp (CRML), I3 Verticals Inc (IIIV), Mondee Holdings Inc (MOND), Twist Bioscience Corp (TWST).
More news from Barchart
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mostly Higher on Positive Corporate News

The S&P 500 Index ($SPX) (SPY) today is down -0.03%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.14%.
Stocks today are mixed, with the Dow Jones Industrials falling to a 1-1/2 week low. Higher bond yields are weighing on the overall market today, with the 10-year T-note yield up +2.0 bp today to 4.459%, just below last Friday’s 5-1/2 month high of 4.501%, on anxiety that President-elect Trump’s isolationist policies will revive inflation and deter interest rate cuts from the Fed.
Corporate news today is mixed for stocks. On the positive side, Tesla is up more than +6% after Bloomberg reported that President-elect Trump’s transition team members have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities. Conversely, Nvidia is down more than -2% to weigh on the Dow Jones Industrials after the Information reported the company had asked its suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
The markets will look for news on US Oct housing starts and building permits on Tuesday for direction. Also, the quarterly earnings results from Walmart and Lowe’s will be scoured on Tuesday to see if consumer spending continues to hold up. On Wednesday, the markets will look to earnings results from Nvidia to see if future demand for its AI Blackwell chips will continue after reports said Nvidia has asked suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Of the 90% of companies in the S&P 500 that have released Q3 earnings so far, 75% surpassed the estimates, slightly below the 3-year average. According to Bloomberg Intelligence, companies in the S&P 500 have reported an average +8.5% y/y increase in quarterly earnings in Q3, more than double the preseason forecast.
The markets are discounting the chances at 58% for a -25 bp rate cut at the December 17-18 FOMC meeting.
Overseas stock markets today are lower. The Euro Stoxx 50 closed down -0.72%. China's Shanghai Composite Index fell to a 1-1/2 week low and closed down -0.21%. Japan's Nikkei Stock 225 dropped to a 2-week low and closed down -1.09%.
Interest Rates
December 10-year T-notes (ZNZ24) today are down -4 ticks. The 10-year T-note yield is up +1.8 bp to 4.457%. Dec T-notes Friday slid to a 5-month low, and the 10-year T-note yield rose to a 5-1/2 month high of 4.501%. T-notes are moderately lower today on carryover pressure from weakness in European government bonds. Also, concern that President-elect Trump’s isolationist policies will revive inflation and deter interest rate cuts from the Fed is weighing on T-note prices.
European government bond yields today are moving higher. The 10-year German bund yield is up +3.9 bp to 2.395%. The 10-year UK gilt yield is up +1.7 bp to 4.488%.
ECB Governing Council member and Bundesbank President Nagel said if international tensions should intensify, this could lead to greater inflationary pressures or increased volatility in consumer-price growth, and central banks might have to react with higher interest rates.
Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 18% for a -50 bp rate cut at the same meeting.
US Stock Movers
Super Micro Computer (SMCI) is up more than +19% to lead gainers in the S&P 500 and Nasdaq 100 ahead of a deadline for the company to either file a delayed 10-K annual report or submit a plan to file the form to Nasdaq to remain listed on the exchange.
Tesla (TSLA) is up more than +6% after Bloomberg reported that President-elect Trump’s transition team members have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities.
Advance Micro Devices (AMD) is up more than +4% after IBM reported it entered into a pact with the company to supply it with MI300x accelerator chips for its cloud network.
Dell Technologies (DELL) is up more than +3% after Mizuho Securities raised its price target on the stock to $155 from $135.
Globe Life (GL) is up more than +2% after announcing a $1.8 billion stock buyback plan representing 20% of the company’s current market value.
Shift4 Payments (FOUR) is up more than +4% after S&P Dow Jones Indices said the company will replace R1 RCM in the S&P MidCap 400 Index prior to the opening of trading on November 20.
Newmont (NEM) is up more than +2% after it agreed to sell its Musselwhite operation to Orla Mining Ltd for $850 million.
Hewlett Packard Enterprise (HPE) is up more than +1% after Raymond James upgraded the stock to strong buy from outperform with a price target of $29.
Nvidia (NVDA) is down more than -3% to lead losers in the Dow Jones Industrials and Nasdaq 100 after the Information reported the company had asked its suppliers to change the design of the server racks for its new Blackwell graphics processing unit due to an overheating problem.
Palantir Technologies (PLTR) is down more than -8% to lead losers in the S&P 500 on signs of insider selling after an SEC filing showed founder Karp sold $3.99 million of shares from last Wednesday to last Friday.
Nike (NKE) is down more than -2% after TD Cowen cut its price target on the stock to $73 from $78.
Neurogene (NGNE) is down more than -39% after it paused the use of the higher 3E15 vg dose of its NGN-401 for the treatment of Rett syndrome.
Avis Budget Group (CAR) is down more than -2% after Northcoast Research downgraded the stock to neutral from buy.
Charles River Laboratories International (CRL) is down more than -1% after CLSA downgraded the stock to underperform from hold with a price target of $164.
Fortive Corp (FTV) is down nearly -1% after Argus Research downgraded the stock to hold from buy, citing valuation.
Earnings Reports (11/18/2024)
AECOM (ACM), BellRing Brands Inc (BRBR), Bit Digital Inc (BTBT), Critical Metals Corp (CRML), I3 Verticals Inc (IIIV), Mondee Holdings Inc (MOND), Twist Bioscience Corp (TWST).
More news from Barchart
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed as Bond Yields Climb

The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.29%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.86%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.17%.
Stock indexes settled moderately lower on Tuesday as they consolidated the past week’s rally to record highs. Higher bond yields Tuesday fueled some profit-taking pressures in stocks following five straight sessions of gains. Also, long liquidation in stocks ahead of Wednesday's US consumer price report weighed on the overall market.
Stocks have rallied sharply over the past week, with the S&P 500, Dow Jones Industrials, and the Nasdaq 100 posting new record highs on speculation President-elect Trump will boost corporate profits through tax cuts and reduced regulation.
Positive Fed comments on Tuesday were bullish for stocks. Richmond Fed President Barkin said the US economy looks "pretty good," and the Fed is in a position to respond however the economy evolves. Also, Minneapolis Fed President Kashkari said only inflation could derail a Fed rate cut in December, and "if we saw inflation surprises to the upside between now and then, that might give us pause."
The markets are looking ahead to Wednesday’s US consumer price report for October, with Oct CPI expected to climb to +2.6% y/y, up from +2.4% y/y in Sep, and core Oct CPI expected to remain unchanged from Sep at +3.3% y/y. Also, Friday’s report on retail sales will be looked at to see if consumer spending is holding up. Oct retail sales are expected to be up +0.3% m/m, and Oct retail sales ex-autos are also expected to be up +0.3% m/m.
Of the 85% of companies in the S&P 500 that have released Q3 earnings so far, 75% surpassed the estimates, slightly below the 3-year average. According to Bloomberg Intelligence, companies in the S&P 500 have reported an average +8.4% y/y increase in quarterly earnings in Q3, more than double the preseason forecast.
The markets are discounting the chances at 62% for a -25 bp rate cut at the December 17-18 FOMC meeting.
Overseas stock markets Tuesday settled lower. The Euro Stoxx 50 tumbled to a 2-month low and closed down -2.25%. China's Shanghai Composite Index closed down -1.39%. Japan's Nikkei Stock 225 closed down -0.40%.
Interest Rates
December 10-year T-notes (ZNZ24) Tuesday closed down by -15.5 ticks. The 10-year T-note yield rose +13.1 bp to 4.435%. T-notes were under pressure Tuesday from carryover weakness in European government bonds. Also, upbeat comments Tuesday from Richmond Fed President Barkin curbed safe-haven demand for T-notes when he said the US economy looks "pretty good." In addition, concerns about inflationary pressures of future policies from President-elect Trump are weighing on T-notes.
European government bond yields Tuesday moved higher. The 10-year German bund yield rebounded from a 1-1/2 week low of 2.299% and finished up +3.6 bp to 2.362%. The 10-year UK gilt yield rose +7.4 bp to 4.499%.
The German Nov ZEW survey expectations of economic growth unexpectedly fell -3.7 to 7.4 versus expectations of an increase to 13.2.
ECB Governing Council member Rehn said disinflation in the Eurozone is "well on track," and the growth outlook "seems to be weakening," and "that strengthens the case for an ECB rate cut in December."
Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 23% for a -50 bp rate cut at the same meeting.
US Stock Movers
Mosaic (MOS) closed down more than -7% to lead losers in the S&P 500 after reporting Q3 net sales of $2.8 billion, weaker than the consensus of $3.14 billion.
GE Vernova (GEV) closed down more than -7% after the Financial Times reported that CEO Strazik said the company plans to postpone searching for new offshore turbine orders until market conditions improve.
Home builders retreated Tuesday after the 10-year T-note yield jumped more than +13 bp, which boosts mortgage rates and is negative for housing demand. As a result, PulteGroup (PHM), Lennar (LEN), DR Horton (DHI), and Toll Brothers (TOL) closed down more than -3%.
Elevance Health (ELV) closed down more than -2% after the CFO said he sees pressure in Medicaid persisting in 2025 and sees Medicare Advantage margins missing their 2025 targets.
Neurogene (NGNE) closed down more than -43% after a disclosure indicated an emerging serious adverse event in a trial participant for the experimental Rett syndrome drug.
Alnylam Pharmaceuticals (ALNY) closed down more than -3% after Wolfe Research downgraded the stock to underperform from peer perform with a price target of $205.
Knight-Swift Transportation Holdings (KNX) closed down more than -4% after Citigroup downgraded the stock to sell from neutral with a price target of $56.
Airbnb (ABNB) closed down more than -2% after Phillip Securities downgraded the stock to reduce from neutral with a price target of $120.
Tyson Foods (TSN) closed up more than +6% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of 92 cents, stronger than the consensus of 72 cents.
Honeywell International (HON) closed up more than +3% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after Elliot Investment Management said it built a $5 billion stake in the company and is calling for a breakup of the company.
Live Nation Entertainment (LYV) closed up more than +4% after reporting Q3 adjusted operating income of $909.8 million, stronger than the consensus of $856.6 million.
Nvidia (NVDA) closed up more than +2% after Redburn initiated coverage on the stock with a buy recommendation and a price target of $178.
Shopify (SHOP) closed up more than +21% after reporting Q3 revenue of $2.16 billion, better than the consensus of $2.12 billion.
Twilio (TWLO) closed up more than +2% after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $120.
Molson Coors Beverage (TAP) closed up more than +2% after JPMorgan Chase said the latest data showed improving trends for the company as the latest 4-week trend to November 2 saw dollar takeaway down -1.9%, an improvement of 200 bp over the prior 4-week period.
Earnings Reports (11/13/2024)
Cisco Systems Inc (CSCO), Loar Holdings Inc (LOAR), NU Holdings Ltd/Cayman Islands (NU), Tetra Tech Inc (TTEK).
More Stock Market News from Barchart
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Retreat as Bond Yields Spike Higher

The S&P 500 Index ($SPX) (SPY) today is down -0.13%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.07%.
Stock indexes today are slightly lower as they consolidate the past week’s rally to record highs. Higher bond yields today sparked some profit-taking and long liquidation pressures in stocks following five straight sessions of gains. Stocks have rallied sharply over the past week, with the S&P 500, Dow Jones Industrials, and the Nasdaq 100 posting new record highs on speculation President-elect Trump will boost corporate profits through tax cuts and reduced regulation.
Positive comments today from Richmond Fed President Barkin supported stocks when he said the US economy looks "pretty good," and the Fed is in a position to respond however the economy evolves.
The markets are looking ahead to Wednesday’s US consumer price report for October, with Oct CPI expected to climb to +2.6% y/y, up from +2.4% y/y in Sep, and core Oct CPI expected to remain unchanged from Sep at +3.3% y/y. Also, Friday’s report on retail sales will be looked at to see if consumer spending is holding up. Oct retail sales are expected to be up +0.3% m/m, and Oct retail sales ex-autos are also expected to be up +0.3% m/m.
Of the 85% of companies in the S&P 500 that have released Q3 earnings so far, 75% surpassed the estimates, slightly below the 3-year average. According to Bloomberg Intelligence, companies in the S&P 500 have reported an average +8.4% y/y increase in quarterly earnings in Q3, more than double the preseason forecast.
The markets are discounting the chances at 65% for a -25 bp rate cut at the December 17-18 FOMC meeting.
Overseas stock markets today are lower. The Euro Stoxx 50 tumbled to a 2-month low and is down -1.82%. China's Shanghai Composite Index closed down -1.39%. Japan's Nikkei Stock 225 closed down -0.40%.
Interest Rates
December 10-year T-notes (ZNZ24) today are down by -5 ticks. The 10-year T-note yield is up +6.6 bp to 4.371%. T-notes are under pressure today from carryover weakness in European government bonds. Also, upbeat comments today from Richmond Fed President Barkin curbed safe-haven demand for T-notes when he said the US economy looks "pretty good." In addition, concerns about inflationary pressures of future policies from President-elect Trump are weighing on T-notes.
European government bond yields today are moving higher. The 10-year German bund yield rebounded from a 1-1/2 week low of 2.299% and is up +0.1 bp to 2.328%. The 10-year UK gilt yield is up +4.2 bp to 4.467%.
The German Nov ZEW survey expectations of economic growth unexpectedly fell -3.7 to 7.4 versus expectations of an increase to 13.2.
ECB Governing Council member Rehn said disinflation in the Eurozone is "well on track," and the growth outlook "seems to be weakening," and "that strengthens the case for an ECB rate cut in December."
Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 24% for a -50 bp rate cut at the same meeting.
US Stock Movers
Mosaic (MOS) is down more than -7% to lead losers in the S&P 500 after reporting Q3 net sales of $2.8 billion, weaker than the consensus of $3.14 billion.
Elevance Health (ELV) is down more than -2% after the CFO said he sees pressure in Medicaid persisting in 2025 and sees Medicare Advantage margins missing their 2025 targets.
Neurogene (NGNE) is down more than -40% after a disclosure indicated an emerging serious adverse event in a trial participant for the experimental Rett syndrome drug.
Alnylam Pharmaceuticals (ALNY) is down more than -5% after Wolfe Research downgraded the stock to underperform from peer perform with a price target of $205.
Knight-Swift Transportation Holdings (KNX) is down more than -3% after Citigroup downgraded the stock to sell from neutral with a price target of $56.
Airbnb (ABNB) is down more than -2% after Phillip Securities downgraded the stock to reduce from neutral with a price target of $120.
Baxter International (BAX) is down more than -1% after cutting its quarterly dividend to 17 cents per share from 29 cents and after CFRA downgraded the stock to sell from hold.
Tyson Foods (TSN) is up more than +9% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of 92 cents, stronger than the consensus of 72 cents.
Honeywell International (HON) is up more than +4% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after Elliot Investment Management said it built a $5 billion stake in the company and is calling for a breakup of the company.
Live Nation Entertainment (LYV) is up more than +3% after reporting Q3 adjusted operating income of $909.8 million, stronger than the consensus of $856.6 million.
Nvidia (NVDA) is up more than +2% after Redburn initiated coverage on the stock with a buy recommendation and a price target of $178.
Shopify (SHOP) is up more than +25% after reporting Q3 revenue of $2.16 billion, better than the consensus of $2.12 billion.
Twilio (TWLO) is up more than +3% after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $120.
Cardinal Health (CAH) is up more than +1% after it agreed to buy a 71% stake in GI Alliance from GIA physician owners for $2.8 billion and acquire Advanced Diabetes Supply Group for $1.1 billion in cash.
Earnings Reports (11/12/2024)
Amdocs Ltd (DOX), Archer-Daniels-Midland Co (ADM), Azenta Inc (AZTA), Cava Group Inc (CAVA), GRAIL Inc (GRAL), Home Depot Inc/The (HD), Light & Wonder Inc (LNW), Maplebear Inc (CART), Mosaic Co/The (MOS), Natera Inc (NTRA), Occidental Petroleum Corp (OXY), Repligen Corp (RGEN), Rocket Cos Inc (RKT), Roivant Sciences Ltd (ROIV), Shift4 Payments Inc (FOUR), Skyworks Solutions Inc (SWKS), Spotify Technology SA (SPOT), Tyson Foods Inc (TSN), ZoomInfo Technologies Inc (ZI).
More Stock Market News from Barchart
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Slightly Lower as Indexes Consolidate Recent Rally

The S&P 500 Index ($SPX) (SPY) today is up +0.09%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.02%.
Stocks today are slightly higher, consolidating the past week’s rally to record highs. Higher bond yields today sparked some profit-taking and long liquidation pressures in stocks after following five straight sessions of gains. Stocks have rallied sharply over the past week, with the S&P 500, Dow Jones Industrials, and the Nasdaq 100 posting new record highs on speculation President-elect Trump will boost corporate profits through tax cuts and reduced regulation.
The markets are looking ahead to Wednesday’s US consumer price report for October, with Oct CPI expected to climb to +2.6% y/y, up from +2.4% y/y in Sep, and core Oct CPI expected to remain unchanged from Sep at +3.3% y/y. Also, Friday’s report on retail sales will be looked at to see if consumer spending is holding up. Oct retail sales are expected to be up +0.3% m/m, and Oct retail sales ex-autos are also expected to be up +0.3% m/m.
Of the 85% of companies in the S&P 500 that have released Q3 earnings so far, 75% surpassed the estimates, slightly below the 3-year average. According to Bloomberg Intelligence, companies in the S&P 500 have reported an average +8.4% y/y increase in quarterly earnings in Q3, more than double the preseason forecast.
The markets are discounting the chances at 65% for a -25 bp rate cut at the December 17-18 FOMC meeting.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -1.00%. China's Shanghai Composite Index closed down -1.39%. Japan's Nikkei Stock 225 closed down -0.40%.
Interest Rates
December 10-year T-notes (ZNZ24) today are down by -9 ticks. The 10-year T-note yield is up +8.6 bp to 4.390%. T-notes are under pressure today from carryover weakness in European government bonds. Also, concerns about inflationary pressures of future policies from President-elect Trump are weighing on T-notes.
European government bond yields today are moving higher. The 10-year German bund yield rebounded from a 1-1/2 week low of 2.299% and is up +1.5 bp to 2.342%. The 10-year UK gilt yield is up +4.6 bp to 4.471%.
The German Nov ZEW survey expectations of economic growth unexpectedly fell -3.7 to 7.4 versus expectations of an increase to 13.2.
ECB Governing Council member Rehn said disinflation in the Eurozone is "well on track," and the growth outlook "seems to be weakening," and "that strengthens the case for an ECB rate cut in December."
Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at its December 12 policy meeting and at 24% for a -50 bp rate cut at the same meeting.
US Stock Movers
Mosaic (MOS) is down more than -3% after reporting Q3 net sales of $2.8 billion, weaker than the consensus of $3.14 billion.
Neurogene (NGNE) is down more than -40% after a disclosure indicated an emerging serious adverse event in a trial participant for the experimental Rett syndrome drug.
Ross Stores (ROST) are down more than -1% after Citigroup downgraded the stock to neutral from buy, citing uncertainty tied to the CEO transition.
Alnylam Pharmaceuticals (ALNY) is down more than -3% after Wolfe Research downgraded the stock to underperform from peer perform with a price target of $205.
Knight-Swift Transportation Holdings (KNX) is down more than -1% after Citigroup downgraded the stock to sell from neutral with a price target of $56.
Airbnb (ABNB) is down more than -2% after Phillip Securities downgraded the stock to reduce from neutral with a price target of $120.
Baxter International (BAX) is down more than -1% after cutting its quarterly dividend to 17 cents per share from 29 cents and after CFRA downgraded the stock to sell from hold.
Tyson Foods (TSN) is up more than +8% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of 92 cents, stronger than the consensus of 72 cents.
Honeywell International (HON) is up more than +5% to lead gainers in the Nasdaq 100 after Elliot Investment Management said it built a $5 billion stake in the company and is calling for a breakup of the company.
Live Nation Entertainment (LYV) is up more than +3% after reporting Q3 adjusted operating income of $909.8 million, stronger than the consensus of $856.6 million.
Nvidia (NVDA) is up more than +1% after Redburn initiated coverage on the stock with a buy recommendation and a price target of $178.
Shopify (SHOP) is up more than +22% after reporting Q3 revenue of $2.16 billion, which is better than the consensus of $2.12 billion.
SentinelOne (S) is up more than +2% after Deutsche Bank upgraded the stock to buy from hold with a price target of $32.
Twilio (TWLO) is up more than +3% after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $120.
Earnings Reports (11/12/2024)
Amdocs Ltd (DOX), Archer-Daniels-Midland Co (ADM), Azenta Inc (AZTA), Cava Group Inc (CAVA), GRAIL Inc (GRAL), Home Depot Inc/The (HD), Light & Wonder Inc (LNW), Maplebear Inc (CART), Mosaic Co/The (MOS), Natera Inc (NTRA), Occidental Petroleum Corp (OXY), Repligen Corp (RGEN), Rocket Cos Inc (RKT), Roivant Sciences Ltd (ROIV), Shift4 Payments Inc (FOUR), Skyworks Solutions Inc (SWKS), Spotify Technology SA (SPOT), Tyson Foods Inc (TSN), ZoomInfo Technologies Inc (ZI).
More Stock Market News from Barchart
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Indexes Slightly Higher as They Consolidate Below Record Highs

In trading on Wednesday, the Invesco Dorsey Wright SmallCap Momentum ETF is outperforming other ETFs, up about 0.4% on the day. Components of that ETF showing particular strength include shares of Neurogene, up about 6.1% and shares of Ars Pharmaceuticals, up about 5.1% on the day.
And underperforming other ETFs today is the Lithium ETF, off about 1.4% in Wednesday afternoon trading. Among components of that ETF with the weakest showing on Wednesday were shares of Albemarle, lower by about 3%, and shares of Lithium Americas, lower by about 3% on the day.
VIDEO: Wednesday's ETF Movers: DWAS, LIT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Neurogene Inc.

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