■ Apple (AAPL)
• Earnings Ahead (Jan 29): Ahead of its FY26 Q1 earnings release this week, analysts suggest Apple has entered oversold territory from a mid-term perspective.
• Technical Rebound Potential: Technical analysts evaluate the recent weeks of price decline as setting the stage for a potential post-earnings rebound. A key indicator will be whether the stock can break through the $275 resistance level, signaling the end of the current correction.
• Caution Remains: Even with a post-earnings rally, experts warn of a potential retest of support levels. Key support lies between $235 and $243 (Fibonacci retracement and 200-day moving average), with secondary support from the weekly Ichimoku cloud significantly lower.
■ General Motors (GM)
• Earnings Beat: Q4 EPS of $2.51 beat estimates ($2.20), though revenue of $45.29 billion missed the $45.8 billion forecast.
• Strong Guidance: Issued 2026 guidance with net income of $10.3B–$11.7B, adjusted EBIT of $13B–$15B, and an annual EPS target of $11–$13, exceeding the consensus average of $11.73.
• Shareholder Returns: Announced an aggressive shareholder return policy, including a 20% dividend hike and a new $6 billion share buyback program.
■ UnitedHealth Group (UNH)
• Mixed Results: Q4 EPS of $2.11 met estimates, but revenue of $113.2 billion missed the $113.73 billion consensus.
• Turnaround Strategy: The company is addressing higher-than-expected medical costs with a turnaround strategy under new leadership, including reducing membership, raising premiums, cutting benefits, and increasing transparency.
• Weak Guidance: Issued 2026 revenue guidance of over $439 billion, a 2% year-over-year decrease and significantly below the market consensus of $454.6 billion.
■ American Airlines (AAL)
• Earnings Miss: Q4 EPS ($0.16) and revenue ($14.0 billion) both missed estimates due to a $325 million impact from last fall's U.S. government shutdown, which caused operational disruptions and booking declines.
• Solid Full-Year & Outlook: Achieved full-year 2025 revenue of $54.6B and EPS of $0.36, while reducing total debt by $2.1 billion. 2026 adjusted EPS guidance of $1.70–$2.70 (midpoint $2.20) beat the $2.01 consensus.
• Q1 Headwinds: Expects a Q1 2026 EPS loss of $0.10–$0.50 due to Winter Storm "Fern," which caused over 9,000 flight cancellations and an estimated $150M–$200M revenue loss.
■ Starbucks (SBUX)
• Earnings Preview (Jan 28): Bernstein maintained Outperform ($100 PT), expecting a recovery in the upcoming earnings.
• Same-Store Sales Turnaround: After six consecutive quarters of decline, same-store sales are projected to grow +3.3% YoY in FY26 Q1, beating the +1.8% consensus.
• Strategic Progress: Strategies like closing underperforming stores and improving service are showing results. However, with a 14% YTD rally, further upside requires management to unveil a clear strategy for margin recovery.
■ Novo Nordisk (NVO)
• Earnings Preview (Feb 4): BMO Capital raised its target to $57 (Market Perform), citing global growth potential despite stagnating U.S. growth.
• Wegovy Stagnation: U.S. Wegovy prescriptions in Q4 were flat QoQ, contrasting with a 17% increase for competitor Eli Lilly's Zepbound.
• Guidance Cut: Lowered 2025 Wegovy revenue forecast due to weakened pricing power. U.S. prescriptions are expected to remain flat in 2026, with potential revenue decline.
■ Health Insurance Stocks (UNH, HUM, CVS)
• Medicare Shock: Plunged after the Centers for Medicare & Medicaid Services (CMS) proposed a disappointing 0.09% increase in 2027 Medicare Advantage rates, far below the expected 4–6%.
■ Boeing (BA)
• Earnings Beat & Sell-Off: Reported strong Q4 results with adjusted EPS of $9.92 (vs. $0.45 loss est.) and revenue up 57% to $23.95 billion, driven by record quarterly deliveries of 160 commercial jets.
• Profit Taking: Investors took profits as a significant portion of the earnings beat was attributed to one-time factors, despite the successful turnaround to full-year profitability in FY2025.
■ Corning (GLW)
• Meta Investment: Secured a massive investment from Meta Platforms (META), which will invest up to $6 billion by 2030 in Corning's fiber optic technology to build out its AI data center infrastructure.
■ Other Pre-market Movers
• ■ SLB (SLB): Analysts (Susquehanna, Citi, RBC, JPMorgan) raised targets, citing solid international business, digital solutions, and potential tailwinds from geopolitical factors, despite a backend-loaded 2026 recovery.
• ■ Alcoa (AA): BMO lowered its target to $65, noting Q4 beat was driven by one-off carbon credits. B. Riley raised its target to $78 on improved commodity price assumptions.
• ■ Intuitive Surgical (ISRG): Barclays and Freedom Capital raised targets, praising stable 2026 guidance and expecting structural growth from the da Vinci 5 launch.
• ■ Union Pacific (UNP): Q4 EPS ($2.86) and revenue ($6.1B) missed estimates due to a 4% drop in freight volume. Guided for mid-single-digit EPS growth in 2026.
• ■ Nucor (NUE): Q4 EPS ($1.73) and revenue ($7.68B) both missed Wall Street consensus.
• ■ Salesforce (CRM): Signed a 10-year, $5.6 billion contract with the U.S. Army, demonstrating strength in the public sector.
• ■ Pinterest (PINS): Announced plans to lay off less than 15% of its workforce and reduce office space to cut costs and shift towards an AI-centric operating model.
• ■ Freeport-McMoRan (FCX): Bernstein downgraded to Market Perform ($54 PT), stating that the current valuation already reflects optimistic copper price assumptions.
• ■ McCormick (MKC): Barclays and JPMorgan lowered targets due to unexpected cost headwinds from ERP implementation and taxes, despite a focus on volume over short-term profit in FY26.
