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Q3 Revenue Increases 8.9% to $34.3M
Reports Q3 revenue $34.3M vs. $31.52M last year.
Dow Jones Rises 588.64 Points as Trump Discusses Greenland
The major averages were broadly higher in a bounce-back from yesterday's sharp selloff after U.S. President Donald Trump said at the World Economic Forum in Davos that he won't use excessive force to acquire Greenland and that he is seeking immediate talks on the matter. Later in the session, Trump stated in a post on Truth Social that he won't impose planned February 1 tariffs after reaching a framework agreement on Greenland with NATO Secretary General Mark Rutte.Looking to commodities, gold prices pulled back from earlier sharp gains during the session, finishing mostly unchanged. Oil prices were fractionally higher ahead of the API crude numbers set for release this afternoon.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Netflixreportedand provided FY26 revenue guidance, but said it will pause share buybacks to help fund its pending Warner Bros.acquisitionJohnson & Johnsonreportedbut provided a somewhat conservative FY26 outlookUnited Airlinesreportedand provided guidance for Q1 and FY26Smithfield FoodsNathan's Famousfor $102 per share in cashPresident Trump said at the World Economic Forum in Davos that he won't use excessive force to acquire Greenland and later said heplanned February 1 tariffs on NATO-linked countries2. WALL STREET CALLS:Okloto Buy at BofA after MetadealBiohavento Outperform at RBC CapitalCitiAbercrombie & Fitchon favorable risk/reward post selloffArmto Positive at Susquehanna following underperformanceCraig-HallumFlutterto Hold on accumulating transitory headwinds3. AROUND THE WEB:Appleis planning to revamp Siri intot its first AI chatbot code-named Campos, Bloomberg reportsEatonis mulling a sale or spinoff of its $5B vehicle unit, Bloomberg saysNvidiaCEO Jensen Huang is planning to travel to China in late January to attend company parties and potentially meet with senior Chinese officials, Bloomberg reportsAccording to Chief Technology Officer, CTO, Andrew Bosworth, Meta'snew AI lab has internally delivered its first AI models, Reuters saysKerrisdale Capital, in a research note, says the firm is short shares of Affirm, a "Buy Now, Pay Later" lender built "on the same subprime playbook that has undone monoline consumer finance companies for decades."4. MOVERS:Progress Softwarehigher afterand providing guidance for Q1 and FY26Lucid Groupincreases after Rockwell Automationannounced it will power the company'sLexicongains after completing the End-of-Phase 2 meeting withOcugenlower after announcing aAST SpaceMobilefalls after Blue Orirgin announced5. EARNINGS/GUIDANCETE Connectivity, with EPS and revenue beating consensusCitizens Financial, with CEO Bruce Van Saun commenting, "We are pleased to report good Q4 and full year results that reflect strong execution of our key growth initiatives"Teledyneand provided guidance for Q1Travelersand provided guidance for FY25, with CEO Alan Schnitzer commenting, "We are pleased to report excellent fourth quarter and full year results"Dananarrowed itsand provided its outlook for FY26INDEXES:The Dow rose 588.64, or 1.21%, to 49,077.23, the Nasdaq gained 270.50, or 1.18%, to 23,224.82, and the S&P 500 advanced 78.76, or 1.16%, to 6,875.62.
Major Averages Bounce Back at Noon, Dow Up 288.53 Points
The major averages were broadly higher at noon in a bounce-back from yesterday's sharp selloff, though sentiment remains fragile. Markets are trading in a volatile and unsettled environment as traders digest significant geopolitical and trade policy risks that have dominated headlines this week.Of note, U.S. President Donald Trump said at the World Economic Forum in Davos that he won't use excessive force to acquire Greenland and that he is seeking immediate talks on the matter. The news comes as Bloomberg reported that the European Union has delayed a vote on ratifying a trade agreement with the U.S.Looking to commodities, gold prices continue to skyrocket to record highs, crossing the $4,800 threshold and inching towards the $4,900 mark. Oil prices were fractionally higher near noon, meanwhile, ahead of the API crude numbers set for release this afternoon.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Netflixreportedand provided FY26 revenue guidance, but said it will pause share buybacks to help fund its pending Warner Bros.acquisitionJohnson & Johnsonreportedbut provided a somewhat conservative FY26 outlookUnited Airlinesreportedand provided guidance for Q1 and FY26Smithfield FoodsNathan's Famousfor $102 per share in cashPresident Trump said at the World Economic Forum in Davos that he won't use2. WALL STREET CALLS:Okloto Buy at BofA after MetadealBiohavento Outperform at RBC CapitalCitiAbercrombie & Fitchon favorable risk/reward post selloffArmto Positive at Susquehanna following underperformanceCraig-HallumFlutterto Hold on accumulating transitory headwinds3. AROUND THE WEB:Snaphas agreed to settle a tech addiction lawsuit ahead of a landmark trial alleging social media companies engineered addictive products that harm young users, NY Times saysNvidiaCEO Jensen Huang is planning to travel to China in late January to attend company parties and potentially meet with senior Chinese officials, Bloomberg reportsU.S. Treasury Secretary Scott Bessent said Deutsche BankCEO Christian Sewing told him the bank does not agree with an analyst report suggesting European investors may drop U.S. assets, Reuters reportsAccording to Chief Technology Officer, CTO, Andrew Bosworth, Meta'snew AI lab has internally delivered its first AI models, Reuters saysKerrisdale Capital, in a research note, says the firm is short shares of Affirm, a "Buy Now, Pay Later" lender built "on the same subprime playbook that has undone monoline consumer finance companies for decades."4. MOVERS:Progress Softwarehigher afterand providing guidance for Q1 and FY26Lucid Groupincreases after Rockwell Automationthe company's manufacturing facility in Saudi ArabiaLexicongains after completing thewith U.S. FDA for pilavapadinOcugenlower after announcing aErascalower after announcing a5. EARNINGS/GUIDANCETE Connectivity, with EPS and revenue beating consensusCitizens Financial, with CEO Bruce Van Saun commenting, "We are pleased to report good Q4 and full year results that reflect strong execution of our key growth initiatives"Teledyneand provided guidance for Q1Travelersand provided guidance for FY25, with CEO Alan Schnitzer commenting, "We are pleased to report excellent fourth quarter and full year results"Danafor FY25 and provided its outlook for FY26INDEXES:Near midday, the Dow was up 0.60%, or 288.53, to 48,777.12, the Nasdaq was up 0.21%, or 49.12, to 23,003.44, and the S&P 500 was up 0.41%, or 27.59, to 6,824.45.
Stock Futures Stabilize, But Market Sentiment Remains Fragile
After yesterday's steep selloff, stock futures are attempting to stabilize but sentiment remains fragile. Markets are trading in a volatile and unsettled environment as traders digest significant geopolitical and trade policy risks that have dominated headlines this week.The backdrop for equities reflects a risk-off tilt, with equity selloffs triggering flows into traditional safe havens. Precious metals such as gold have continued to rally, with prices extending to new record highs as investors seek refuge from market stress, while the dollar and Treasury yields are fluctuating with shifts in risk sentiment. The renewed focus on geopolitical and trade policy risk has also kept volatility elevated, drawing attention to the VIX and other measures of market stress that have climbed sharply in recent sessions.In pre-market trading, S&P 500 futures fell 0.11%, Nasdaq futures fell 0.26% and Dow futures fell 0.26%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Nathan's Famousup 8% after entering into a definitive merger agreement for Smithfield Foodsto acquire all of the company's issued and outstanding shares for $102.00 per share in cashUP AFTER EARNINGS -Teledyneup 3%United Airlinesup 3%Halliburtonup 2%Citizens Financialup 1%DOWN AFTER EARNINGS -Netflixdown 7%TE Connectivitydown 3%Ally Financialdown 2%Johnson & Johnsondown 2%Truist Financialdown 2%Travelersdown 1%Charles Schwabdown 1%LOWER -Kraft Heinzdown 7% after disclosing that its largest shareholder, Berkshire Hathaway, could sell nearly all of its over 325M share stake post the spinoff
Smithfield Foods to Acquire Nathan's Famous at $102 per Share
Smithfield Foods (SFD) and Nathan's Famous (NATH) announced that they have entered into a definitive merger agreement for Smithfield Foods to acquire all of Nathan's Famous' issued and outstanding shares for $102.00 per share in cash, which represents an enterprise value of approximately $450M. The transaction represents a valuation of approximately 12.4x Nathan's Famous's LTM adjusted EBITDA and a multiple of approximately 10.0x post-synergies. Smithfield Foods expects to achieve annual cost synergies of approximately $9M by the second anniversary of the deal closing. The acquisition of Nathan's Famous will be immediately accretive to Smithfield's adjusted diluted earnings per share from continuing operations attributable to Smithfield and is expected to bolster its growth strategy. The Board of Directors of Nathan's Famous approved the merger agreement with Smithfield Foods and agreed to recommend that the Nathan's Famous stockholders vote to adopt the merger agreement. The transaction is not subject to a financing contingency and will be funded by cash on hand. The closing of the transaction is expected to occur in the first half of 2026, subject to satisfaction of certain conditions set forth in the merger agreement, including obtaining approval by the holders of a majority of the outstanding Nathan's Famous common stock, expiration or termination of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended, approval from the Committee on Foreign Investment in the United States, and other customary closing conditions. The definitive merger agreement permits the Nathan's Famous' Board of Directors to declare and pay two regular quarterly cash dividends during the period pending closing.
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