[Market Summary]
The three major U.S. indices closed lower as escalating conflict with Iran and a fund redemption halt from Blue Owl Capital unnerved investors.
Dow Jones: 49,395.16 (-267.5 pts, -0.54%)
S&P 500: 6,861.89 (-19.42 pts, -0.28%)
Nasdaq: 22,682.73 (-70.91 pts, -0.31%)
Geopolitical Heat: Tensions reached a peak following reports that the U.S. has gathered its largest military presence in the Middle East since the 2003 Iraq invasion. President Trump warned that "bad things will happen" if a meaningful deal with Iran is not reached, leading to a 1.9% surge in WTI crude oil to $66.43 per barrel.
Liquidity Concerns: Blue Owl Capital (OWL) caused concern by halting quarterly redemptions for its 'Blue Owl Capital Corp II' fund. As an active investor in the AI sector, this move sparked fears of a "liquidity crunch" in AI infrastructure spending.
[Detailed Investment Bank (IB) Analysis]
| Ticker | IB | Rating / Change | Analysis Summary |
| PLTR | Mizuho | Neutral → Buy | EV/FCF multiple dropped 46% recently; risk/reward is now highly attractive. $195 PT. |
| DELL | Evercore ISI | Outperform (Maintain) | Expecting an earnings beat on Feb 26 due to AI server demand and memory price hedging. |
| PINS | Evercore | Outperform → In-line | Lowered to $45 PT following disappointing results and AI competitive pressure. |
| CART | Barclays | Overweight (Maintain) | Strong performance stands out in a mixed internet earnings season. |
| ULTA | Huntington | Positive View | Loyalty program growth and male customer influx drive long-term upside. $790 PT (Raymond James). |
[Featured Tech & AI Strategy]
■ Alphabet (GOOGL, GOOG)
Sea Ltd (SE) Partnership: Partnered with Southeast Asia's tech giant to develop AI shopping agents for the Shopee platform.
Gaming Focus: Alphabet’s Garena and YouTube are expanding their 2024 e-commerce alliance to include AI-driven game development productivity.
■ Microsoft (MSFT)
Insider Activity: Director John W. Stanton purchased 5,000 shares ($1.98M).
Sustainability: Officially achieved its goal of powering 100% of operations with renewable energy via 40GW of supply contracts across 26 countries.
■ Amazon (AMZN) vs. Walmart (WMT)
Amazon: For the first time, Amazon surpassed Walmart in annual revenue. However, shares fell as the market worries about the impact of its $200 billion infrastructure spend on short-term cash flow.
Walmart: Reported a solid beat (EPS $0.74). E-commerce now accounts for a record 23% of total US sales, though 2026 guidance was viewed as conservative.
[Sector Specific Movers]
■ Healthcare: Hims & Hers (HIMS)
M&A Expansion: Agreed to acquire digital health leader Eucalyptus for up to $1.15 billion, significantly expanding its footprint in Australia, the UK, Japan, and Germany.
■ Aerospace: Boeing (BA)
Vietnam Deal: Secured an $8.1 billion contract from Vietnam Airlines for 50 Boeing 737-8 aircraft, linked to ongoing trade negotiations.
■ Industrial & Agriculture: John Deere (DE)
Raised Guidance: Beat Q1 EPS expectations ($2.42) and raised its full-year net income forecast to $4.5B–$5.0B, signaling resilience in a cyclical downturn.
[Notable Corporate Earnings]
■ eBay (EBAY): Surged after reporting a Q4 beat and announcing the $1.2 billion acquisition of Depop, targeting Gen Z consumers.
■ Figma (FIG): Projected 2026 revenue of $1.37B, far exceeding estimates. Will introduce AI credit billing in March.
■ Quanta Services (PWR): Beat Q4 estimates ($3.16 EPS) and issued bullish 2026 guidance, citing the convergence of utilities and AI power demand.
■ Klarna (KLAR): Reported 38% revenue growth; banking users doubled to 15.8 million since its IPO.
■ Carvana (CVNA): EPS of $4.22 crushed the $1.11 consensus, but shares were hit by a slight EBITDA miss.
[After-Hours Featured Stocks]
■ Newmont (NEM)
Surge: Up 1.12% after crushing Q4 expectations with $2.52 EPS (vs. $2.00 est) and $6.82B in revenue.
■ Copart (CPRT)
Plunge: Down 10.65% after hours following its 4th consecutive revenue miss and a slight EPS miss.
