Group 1 - The Trump administration is set to announce new trade investigations aimed at replacing recently ruled illegal reciprocal tariffs [1][2] - These investigations will be conducted under Section 301 of the Trade Act of 1974, which allows the president to impose tariffs on imports from nations engaging in unfair trade practices [2] - The Supreme Court ruled that Trump did not have the authority to impose such duties under the International Emergency Economic Powers Act, impacting the legality of previous tariffs [3] Group 2 - The expected Section 301 probes could target various countries, although specific nations have not been disclosed [2] - The new tariffs are intended to replace those imposed last year without congressional authorization, indicating a shift in trade policy [2]

Group 1: FedEx and IEEPA Tariffs - FedEx has filed a lawsuit against the Trump administration seeking a full refund of tariffs paid under the International Emergency Economic Powers Act (IEEPA) following a Supreme Court ruling against the administration [3] - The lawsuit does not specify the amount due and names the Customs and Border Protection agency and its commissioner as defendants [3] - Other companies, including Costco, have also filed similar lawsuits, with economists projecting that reversing the IEEPA tariffs could generate up to $175 billion in refunds [4] Group 2: Hims & Hers Health - Hims & Hers Health disclosed an SEC investigation regarding its public statements and disclosures about compounded semaglutide, stating it is cooperating but cannot predict the financial impact [5][6] - The company reported Q4 GAAP EPS of $0.08, beating estimates by $0.03, with revenue rising 28.4% year-over-year to $617.8 million, in line with expectations [6] - Subscriber growth reached over 2.5 million, a 13% increase year-over-year, but the company guided for Q1 2026 revenue between $600 million and $625 million, below the consensus estimate of $652.6 million [6] Group 3: IBM and AI Claims - IBM's shares experienced their worst decline in over 25 years after AI startup Anthropic claimed its tool could modernize COBOL, a programming language used on IBM systems [7][8] - The stock fell over 13%, marking its largest single-day percentage loss since October 2000, and has dropped 27% in February, on track for its biggest monthly decline since at least 1968 [8]

Core Viewpoint - The outcome of the court's ruling will significantly impact whether certain IEEPA tariffs are upheld or eliminated [1] Group 1 - The court's decision may determine if the ruling is straightforward or if it allows for some IEEPA tariffs to remain in effect [1]