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Wednesday, January 29

Some of the largest macro moves in the market today: US Dollar Index +0.3%. STI 30 Index (Singapore) +1.4%. Noteworthy US mega-cap moves today: NVIDIA Corp (NVDA) -2.1%. Apple Inc (AAPL) -1.6%. 

The U.S. Federal Reserve is set to announce its monetary policy decision later today, with expectations that interest rates will remain unchanged in the range of 4.25%–4.50%. Market participants are particularly focused on Fed Chair Jerome Powell's press conference for insights into future rate cuts and how recent economic data may influence the central bank’s outlook.

In addition, there has been a significant widening of the U.S. trade deficit in goods for December 2023, which rose to $122.1 billion against market expectations of $105.5 billion due to falling exports and rising imports across various categories including industrial supplies and consumer goods.

Meanwhile, European markets have shown mixed performance as traders anticipate an upcoming announcement from the European Central Bank (ECB), expected tomorrow; a cut by 25 basis points is anticipated amid concerns over potential tariffs impacting Eurozone economies negatively. This speculation has contributed to weakness in the euro against other major currencies during today's trading session.

iShares China Large-Cap ETF (FXI) [+0.6%]
The iShares China Large-Cap ETF (FXI) has seen a price increase of 0.6% since Tuesday. Positive momentum in U.S. markets, particularly in technology and AI shares, has had a ripple effect, with Asian markets also posting gains. Notably, Japan's Nikkei 225 and India's Nifty 50 both rose. The semiconductor sector's strong performance, spurred by ASML's robust earnings, has contributed to this overall market recovery. Meanwhile, FXI's top contributors included TCEHY and TCOM, both of which recorded positive returns, while LI and JD experienced slight declines. Additionally, discussions on social media surrounding U.S. Secretary of State Rubio's trip to Central America aim to counter China's regional influence, reflecting ongoing geopolitical dynamics.

VanEck Semiconductor ETF (SMH) [+0.6%]
The VanEck Semiconductor ETF (SMH) has recorded a daily return of approximately 0.5%, reflecting the broader market's positive momentum as the Nasdaq index rebounded by 2%, largely driven by technology stocks, including a nearly 9% surge in Nvidia. Significant contributors to SMH's performance included AMAT, KLAC, and LRCX, which benefited from ASML's strong earnings report, while MU announced its participation in a conference amid varying analyst sentiments. AVGO experienced a rise due to a licensing agreement with Synaptics. Additionally, the U.S. Navy's prohibition of DeepSeek, announced after market hours, raises security and ethical concerns relevant to the semiconductor sector. Market participants are also awaiting upcoming Federal Reserve announcements regarding interest rates amidst ongoing economic uncertainties related to proposed trade tariffs.

TMUS | +6.5% | +17.8B
T-Mobile US Inc | Wireless Telecommunication Services
T-Mobile US Inc. reported strong fourth-quarter results, with earnings per share of 2.57, surpassing the analyst estimate of 2.28, and total revenue of 21.87 billion, exceeding the consensus estimate of 21.37 billion. The company achieved net customer additions of 1.9 million, including 903,000 postpaid phone net additions, and a postpaid churn rate of 0.92%. For fiscal year 2025, T-Mobile anticipates postpaid net customer additions between 5.5 million and 6 million, alongside core adjusted EBITDA guidance of 33.1 billion to 33.6 billion. Additionally, social media discussions highlighted T-Mobile's collaboration with Apple and SpaceX to integrate Starlink satellite support into upcoming iPhone software, generating interest regarding its potential impact on T-Mobile's market position. Following the earnings announcement, T-Mobile's stock experienced a significant increase shortly thereafter.

GLW | +5.8% | +2.7B
Corning Inc | Electronic Components
Corning Inc. reported strong fourth-quarter 2024 results, with core earnings per share (EPS) of $0.57, surpassing the consensus estimate of $0.56 and reflecting a 46% year-over-year increase. Quarterly revenue reached $3.87 billion, exceeding expectations of $3.74 billion and marking an 18% increase from the previous year. Operating cash flow was reported at $623 million, while the core operating margin expanded to 18.5%. For the first quarter of fiscal 2025, Corning anticipates core sales to rise approximately 10% year-over-year to around $3.6 billion, with core EPS projected between $0.48 and $0.52, slightly above analyst forecasts. Social media discussions have highlighted these results, emphasizing the adjusted EPS and revenue figures that exceeded estimates.

FFIV | +13.1% | +2.3B
F5 Inc | Communications Equipment
F5 Inc reported its Q1 FY 2025 earnings on January 28, revealing an adjusted EPS of 3.84, exceeding the FactSet estimate of 3.36 by 14.29%. Revenue for the quarter reached 766.5 million, surpassing the expected 715.4 million and reflecting an 11% year-over-year increase. The company raised its fiscal year 2025 revenue growth outlook to 6%–7% from a previous estimate of 4%–5%, and adjusted EPS growth expectations were increased to 6.5%–8.5%. For Q2 FY 2025, F5 anticipates revenue between 705 million and 725 million, alongside non-GAAP EPS in the range of 3.02 to 3.14, both slightly below consensus estimates. Following the earnings announcement, F5's stock price increased significantly, reflecting positive market sentiment around the reported performance and future guidance.

MANH | -23.3% | -3.3B
Manhattan Associates Inc | Application Software
Manhattan Associates Inc. reported its fourth-quarter results, revealing an adjusted EPS of 1.17, surpassing expectations of 1.06, and revenue of 255.8 million, slightly above the forecast of 253.1 million. Despite these results, the company's guidance for fiscal year 2025 projected adjusted EPS between 4.45 and 4.55, falling short of the anticipated 4.91, with revenue expectations between 1.06 billion and 1.07 billion compared to the estimate of 1.14 billion. Following this announcement, shares declined approximately 20% in after-hours trading and fell further by 23% in pre-market activity. Social media discussions highlighted the stock's plummet, emphasizing negative sentiment surrounding the company's outlook. Citigroup maintained a Neutral rating while lowering its price target from 303 to 244.

DHR | -5.6% | -9.7B
Danaher Corp | Life Sciences Tools & Services
Danaher Corporation reported its fourth-quarter results, revealing an adjusted EPS of 2.14, slightly below the consensus estimate of 2.16. Revenue for the quarter was 6.54 billion, surpassing expectations of 6.49 billion. The Diagnostics segment experienced a year-over-year sales decline, while the Biotechnology and Life Sciences segments saw increases. The company anticipates a low-single-digit revenue decline for Q1 2025 but expects a 3% growth in full-year revenue for 2025. Following these developments, shares are trading lower in pre-market activity, reflecting a drop of approximately 6%. The CEO highlighted a strong finish to the year with flat year-over-year key figures for fiscal year 2024, including net earnings of 3.9 billion and revenue of 23.9 billion.

DJT | +15.9% | +977.2M
Digital World Acquisition Corp
Digital World Acquisition Corp (DJT) has experienced a significant price increase this morning, following the announcement from Trump Media and Technology Group Corp. regarding its board's approval of a financial services strategy. This initiative includes the launch of the Truth.Fi brand, which aims to diversify the company’s cash reserves, reported to exceed $700 million as of December 31, 2024. The strategy involves an investment of up to $250 million, managed by Charles Schwab, and will encompass various financial vehicles such as separately managed accounts, exchange-traded funds, and allocations to cryptocurrencies. The rollout of Truth.Fi products and services is anticipated in 2025, contingent on regulatory approvals and funding agreements. Conversations on social media have highlighted this expansion into financial technology, marking a strategic shift for the company beyond its existing social media and streaming services.

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