KEY TAKEAWAYSU.S. Steel shares jumped Monday on a report that Cleveland-Cliffs is teaming up with rival Nucor for a potential bid for the company.The news comes after Nippon Steel's $14.1 billion takeover of U.S. Steel was blocked by President Joe Biden earlier this month, although the Japanese firm received an extension over the weekend on a deadline for when it has to drop the bid.Despite Monday's gains, shares of U.S. Steel have lost more than a fifth of their value in the past 12 months. U.S. Steel (X) ...

Key TakeawaysJPMorgan raised its price target on Boot Barn Holdings after meeting with executives of the company.The analysts lifted the price target of the Western footwear and clothing retailer by $12 to $200.Boot Barn Holdings shares were little changed Monday morning after jumping in premarket trading, but they have soared more than 110% in the last year. JPMorgan boosted its price target on Boot Barn Holdings (BOOT) stock, pointing to strong holiday sales and positive comments from executives at the We ...

Core Viewpoint - Shares of pharmaceutical giant Moderna (MRNA) experienced a significant decline after the company revised its 2025 revenue forecast downward by $1 billion [1][4]. Revenue Forecast - Moderna now projects its revenue for the current year to be between $1.5 billion and $2.5 billion, a decrease from the previous estimate of $2.5 billion to $3.5 billion made in September [2]. - The company anticipates that most of this revenue will be generated in the second half of the year, primarily from sales of its Covid-19 and respiratory syncytial virus (RSV) vaccines [2][4]. Expense Management - Moderna plans to implement a $1 billion reduction in expenses for the current year, with an additional $500 million cut expected in 2026 [2]. Stock Performance - The stock price of Moderna fell over 20% intraday to $33.44, effectively negating gains made the previous week following the first reported bird-flu death in the U.S. [3]. - Over the past year, Moderna's stock has lost approximately two-thirds of its value and is significantly below its all-time high of nearly $490 reached in August 2021 during the COVID-19 pandemic [3][4].

Core Insights - Lululemon Athletica has raised its sales and earnings per share (EPS) projections for Q4 following a strong holiday shopping season [1][4] - The company expects Q4 revenue to be between $3.56 billion and $3.58 billion, an increase from the previous range of $3.475 billion to $3.51 billion, exceeding the analysts' consensus of $3.52 billion [1][4] - Lululemon has also increased its EPS guidance to a range of $5.81 to $5.85 per share, up from the previous range of $5.56 to $5.64, and above the analysts' expectation of $5.64 [2] Management Commentary - Lululemon's CFO, Meghan Frank, noted that the positive response from customers to their product offerings during the holiday season enabled the company to increase its fourth-quarter guidance [3] - The adjustments were made ahead of management's meetings with investors and analysts at the ICR Conference in Orlando, Florida [3]

Core Insights - Johnson & Johnson (JNJ) is acquiring Intra-Cellular Therapies (ITCI) for approximately $14.6 billion, leading to a 35% surge in ITCI's shares during premarket trading [1] - The acquisition price is set at $132 per share, representing a 40% premium over ITCI's closing price at the end of the previous week [2] - Intra-Cellular's Caplyta, which treats schizophrenia and bipolar I and II depression, has recently settled a patent lawsuit, contributing to a 15% increase in its share price prior to the acquisition announcement [2] - Intra-Cellular has additional drugs in development targeting Alzheimer's Disease and Parkinson's Disease, enhancing its portfolio value [3] - The deal is expected to close later this year, pending regulatory and shareholder approvals, with JNJ financing the acquisition through cash and debt [4] - JNJ plans to provide insights on the potential impact of the acquisition on adjusted earnings per share during its fourth-quarter earnings call on January 22 [4] - Following the announcement, Intra-Cellular shares reached a record high of $127.90, while JNJ's shares remained stable at $142.49 [5]

Market Share and Sales Performance - Apple's global smartphone market share declined by one percentage point to 18% last year [1][2] - iPhone sales in the fourth quarter dropped 5% year-over-year [1][2] - Apple sold 2% fewer smartphones globally in 2024 compared to the previous year [2] - The overall global smartphone market grew by 4% while Apple's sales declined by 2% [3] Product Performance and Consumer Trends - The iPhone 16 series received a mixed response, partly due to the lack of Apple Intelligence at launch [2][3] - Consumers are shifting towards Apple's ultra-high-end products, helping to offset some sales declines [5] - In markets like China, the sell-through share of Apple's Pro series devices is increasing significantly [5] Competitive Landscape - Samsung's global market share decreased from 20% to 19%, despite strong demand for its AI-positioned S24 series [5] - Xiaomi's market share increased from 13% to 14% [5] Stock Performance - Apple shares fell 1% in premarket trading but are up more than 25% over the past year [2]

Key TakeawaysGoldman Sachs is set to report fourth-quarter results before the market opens Wednesday, with analysts expecting revenue and net interest income growth.Just over half of analysts tracked by Visible Alpha have a "buy" or equivalent rating for the stock, with their consensus price target implying about 10% upside.Several other big banks including JPMorgan and Citigroup are also scheduled to report Wednesday morning. Goldman Sachs (GS) is set to report fourth-quarter results before the market open ...

Key TakeawaysJPMorgan analysts calculated which retailers have the highest percentage of stores within the Los Angeles wildfire evacuation zone.Target was second in terms of both number of stores in the area and the percentage of its total stores.Natural disasters create headwinds to sales but home improvement stores can benefit as an area rebuilds, analysts said. Target (TGT) is among the retailers with the most exposure to the deadly wildfires that have raged this week in the Los Angeles area, JPMorgan an ...

Core Viewpoints - AbbVie (ABBV) shares declined after the company announced a $3.5 billion impairment charge due to the failure of its experimental schizophrenia drug, emraclidine [1][3] - The impairment charge is related to the acquisition of Cerevel Therapeutics Holdings, from which AbbVie obtained emraclidine [1][3] - The Phase 2 trial of emraclidine did not meet primary endpoints, leading to a significant decrease in estimated future cash flows for the product [1][2][3] Financial Impact - AbbVie's shares fell 1% in recent trading but are up approximately 7% over the past year [2] - The $3.5 billion impairment charge reflects the financial impact of the drug's failure on the company's balance sheet [1][3] Drug Development Update - Emraclidine, an experimental medicine for treating schizophrenia in adults, failed to meet primary endpoints in its Phase 2 trial [1][3] - Following the trial results, AbbVie evaluated the impact, concluding a significant reduction in future cash flows for the product [2][3]

Insurance Industry Impact - Shares of insurance companies tumbled on Friday due to the deadly wildfires in Southern California, with The Travelers Companies (TRV) down nearly 4%, Allstate (ALL) down 5%, and Chubb Limited (CB) down 4% [1] - The SPDR S&P Insurance ETF (KIE) was down 2.5% [1] Economic Loss Estimates - The wildfires have caused total damage and economic loss estimated between $135 billion and $150 billion, with potential for further increase as the fires continue to spread [2] - The financial cost might reach nearly 4% of California's annual gross domestic product (GDP) [3] Insurance Company Response - State Farm, the largest property insurance provider in California, has advised customers to file claims when safe, but many may not be able to due to non-renewal of policies for approximately 30,000 homeowners and renters, and 42,000 commercial apartments last year [4]