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January 9, 2026 - Third Party

US PREMARKET ACTIONS: January 9, 2026

Futures Indices:

  • Dow Futures: +0.3%
  • S&P 500 Futures: +0.3%
  • Nasdaq 100 Futures: +0.3%

Market Environment

US markets are starting the day on a positive note, supported by a jobs report in line with expectations. In December, nonfarm payrolls rose by 50,000, close to the consensus of 55,000, while the unemployment rate fell to 4.4% versus an expected 4.6%.

Average hourly earnings increased by 0.3% over the month, slightly above the consensus (+0.2%), and by 3.8% year-on-year.

Bond yields are trending higher:

  • US 2-year yield: 3.51% (+1.7 bps)
  • US 10-year yield: 4.19% (+1.3 bps)
  • US 30-year yield: 4.86% (+1.6 bps)

Stocks to Watch Today

  • AQST -37.92%
    Aquestive plunges after the FDA raised concerns with its Anaphylm drug marketing application. A response is expected by the end of the month.

  • VST +17.76%
    Vistra jumps following the announcement of three major nuclear deals to support Meta’s artificial intelligence ambitions.

  • QURE +16.11%
    uniQure surges as the FDA set a meeting regarding its gene therapy.

  • KALV +14.22%
    KalVista climbs after expecting revenues of $49M in 2025 for its Ektery treatment.

  • TLRY +13.03%
    Tilray beats expectations with revenue of $217.5M (above the consensus of $6.36M) despite an adjusted loss of -$0.02/share.

  • IBIO +12.34%
    iBio soars after raising about $26M via a private placement.

Recommendation Changes

Upgrades

  • Airbnb ($ABNB) → Wells Fargo upgrades to market weight (neutral), target $118 ➝ $128
  • Altria Group ($MO) → UBS upgrades to buy, target raised from $61 ➝ $63
  • Cleveland-Cliffs ($CLF) → Morgan Stanley upgrades to overweight, target $17
  • Crowdstrike ($CRWD) → Berenberg upgrades to buy, target $600
  • Donaldson ($DCI) → Jefferies upgrades to buy, target $120
  • Marriott ($MAR) → BMO raises to outperform, target $285 ➝ $370
  • Quanta Services ($PWR) → Seaport upgrades to buy, target $503
  • RPM International ($RPM) → JP Morgan upgrades to overweight, target adjusted to $115
  • SiteOne Landscape ($SITE) → RBC upgrades to outperform, target $151
  • Sotera Health ($SHC) → Piper Sandler upgrades to overweight, target $24

Neutral

  • American Airlines ($AAL) → Rating maintained, target raised from $12 ➝ $16
  • Applied Materials ($AMAT) → Maintained, target raised to $425
  • Fedex ($FDX) → Maintained, target raised to $306
  • SanDisk ($SNDK) → Maintained, target raised to $410

Downgrades

  • American Tower ($AMT) → BMO downgrades to neutral, target $210 ➝ $185
  • Equity Residential ($EQR) → BMO downgrades to neutral, target $70 ➝ $68
  • Mattel ($MAT) → Goldman Sachs downgrades to neutral, target $21
  • Nucor ($NUE) → Morgan Stanley downgrades to neutral, target raised to $180
  • On Holding ($ONON) → Williams Trading downgrades to neutral, target $47
  • Qualcomm ($QCOM) → Mizuho downgrades to neutral, target $175
  • Regency Centers ($REG) → Mizuho downgrades to neutral, target $74
  • Steel Dynamics ($STLD) → Morgan Stanley downgrades to neutral, target $194
  • Zillow ($Z) → Mizuho downgrades to neutral, target $70

Have a great session, everyone.

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