Luke Kawa4/2/25

Stocks shake off tariff worries with another solid gain

Stocks rallied ahead of President Donald Trump’s tariff announcements. The S&P 500 and Nasdaq 100 rose 0.7%, while the Russell 2000 gained 1.6%.

Every S&P 500 sector ETF gained outside of consumer staples; consumer discretionary topped the leaderboard.

Tesla’s Q1 deliveries were a massive disappointment, sending shares sliding. But news that CEO Elon Musk might soon be stepping away from his White House duties to focus on running his many businesses propelled shares sharply higher. It’s just the second time in the stock’s history (the other time was April 4, 2018) that shares ended up 5% after being down as much 5% earlier in the session.

Electric vehicle maker Rivian also posted a big sales drop; unlike Tesla, the stock slumped and stayed down.

Musk’s reported imminent step away from the government was also cheered by companies that do a lot of business with the feds, like defense companies Palantir Technologies and Booz Allen Hamilton.

Heavily shorted companies like Rigetti Computing and SoundHound AI performed well as traders betting against the stocks faced pressure to fold up those wagers.

The usual suspects — like Amazon and Oracle — are reportedly mulling a bid for TikTok before its scheduled ban this weekend. But what’s surprising is that ad tech firm AppLovin supposedly is as well!

Trump Media & Technology Group tumbled after announcing one primary offering and a secondary offering that enables the president to begin to take profit on his majority stake in the company.

Newsmax’s face-ripping rally reversed course hard, with the pro-Trump media company losing nearly 80% of its value.

BlackBerry also tanked after issuing poor guidance.

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Netflix's Upfront 2025

Netflix sinks on lower-than-expected earnings forecast

Netflix’s report dropped on the same day it officially went all-cash in its bid for Warner Bros. Discovery.

Max Knoblauch6h

markets

Max Knoblauch6h

United Airlines rallies after Q4 earnings and Q1 profit guidance top estimates

Shares of United Airlines are rising after the bell on Tuesday, following the release of the carrier’s fourth-quarter and full-year earnings report.

United posted adjusted earnings per share of $3.10 in Q4, above the $2.92 per share expected by Wall Street analysts polled by Bloomberg. Sales of $15.4 billion were roughly in line with the consensus estimate.

The airline also:

Forecast full-year earnings per share between $12 and $14, bracketing Wall Street’s call for $13.04. For Q1, management sees EPS between $1.00 and $1.50, the midpoint of which is above the $1.16 expected by Wall Street.
Booked $13.93 billion in passenger revenue on the quarter, up nearly 5% year over year.

“Strong revenue momentum has continued into 2026,” according the company’s press release. “The week ending January 4th was the highest flown revenue week in United history, and the week ending January 11th was the highest ticketing week and the highest week for business sales in United history.”

UAL’s premium ticket revenue climbed 9% compared to a 7% increase in basic economy revenue. The “K-shaped economy” has become increasingly visible in travel trends at major US airlines. Last week, Delta’s revenue from first-class and business passengers eclipsed its main cabin revenue for the first time.

Traders will soon have 3x as many opportunities to punt short-term options on the biggest US stocks

And that means 3x the opportunities for gamma/pin risk in the largest US stocks (and the biggest bitcoin ETF).

Craps, Roulette and Sports Betting Debuts at Seminole Hard Rock Hotel & Casino Hollywood

President Trump Delivers An Announcement From The Oval Office

Pharma largely unfazed as Greenland tariffs roil markets

Drugmakers, which have spent the past six months reaching tariff deals with Trump, seem to expect some immunity from a new batch of tariffs on European countries.

J. Edward Moreno9h

markets

POET Technologies nears multiyear high on strong call demand after flagship product wins award

POET Technologies is surging on heavy volumes and high call demand after announcing that it won a Product Innovation Award at China’s Infostone awards.

The honor went to the optical communications company’s flagship product, the Teralight, which uses light to move data between chips.

“Unveiled less than a year ago at the 2025 OFC Conference, POET Teralight has driven commercial interest in the Company because of its highly integrated design and complete optical system-on-chip architecture that simplifies module development,” per the press release.

This award may be the latest excuse to buy the stock, which is up over 40% year to date.

Call activity is elevated, with nearly 37,000 having changed hands as of 10:55 a.m. ET, well above the 20-day average of 28,030 for a full session. Shares are approaching their multi-year high of $9.41.

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