Midday Fly By: Amazon sinks on spending plans, Stellantis takes big charge

The major averages were sharply higher near noon in a rebound from several days of sharp losses even as Amazon slides. Wall Street appears to be reassessing worries about AI disruption as well as the risks of major investments in the space by big tech.

Claim 30% Off TipRanks

Looking to commodities, gold was on the rise amid continued volatility, while oil prices were also higher.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Amazon (AMZN) reported mixed Q4 results and said it expects to invest $200B in capital expenditures in 2026
• Stellantis (STLA) said a reset of its business resulted in charges of roughly EUR22.2B, with the company also announcing plans to sell its 49% equity stake in NextStar Energy and the suspension of its annual dividend
• Reddit (RDDT) reported better-than-expected Q4 results and provided upbeat Q1 revenue guidance
• Molina Healthcare (MOH) reported mixed Q4 results and provided its outlook for FY26
• Hims & Hers (HIMS) was slipping after FDA commissioner Marty Makary warned against “illegal copycat drugs” a day after the company announced a $49 monthly starting price for a copy of Wegovy

2. WALL STREET CALLS:

• Amazon (AMZN) downgraded to Neutral from Buy at DA Davidson
• Freedom Capital upgraded Roblox (RBLX) to Buy on valuation, better-than-expected outlook
• Roku (ROKU) upgraded to Outperform at Oppenheimer
• Gemini Space Station (GEMI) downgraded to In Line at Evercore ISI
• Hub Group (HUBG) double downgraded to Sell at Stifel and downgraded to Neutral at Baird

3. AROUND THE WEB:

• Apple (AAPL) CEO Tim Cook told employees an all-hands meeting with staff on Thursday that he’s “deeply distraught” with the current U.S. approach to immigration and will continue pressing the issue with lawmakers, Bloomberg reports
• Snowboarder Maddie Mastro and other athletes are using a new AI tool powered by Google (GOOGL) DeepMind’s computer vision models to prepare for the 2026 Winter Olympics, WSJ says
• TSMC (TSM) plans to make advanced 3-nanometer chips in Japan, upgrading its original blueprint to produce 7nm chips, Bloomberg reports
• HP (HPQ), Dell (DELL), Acer (ACEYY), and Asus are considering sourcing memory chips from Chinese chipmakers, Nikkei Asia says
• Arm Holdings (ARM) CEO Rene Haas believes fears about AI hurting software companies are a “micro-hysteria” that has triggered a market sell-off and exceeds the reality of how businesses are using the tools, FT reports

4. MOVERS:

• SunOpta (STKL) gains after announcing it will be acquired by Refresco for $6.50 per share in cash
• Strategy (MSTR) and Bill (BILL) increase after reporting quarterly results
• Galaxy Digital (GLXY) increases after announcing a $200M share repurchase plan
• Doximity (DOCS) falls after reporting Q3 results and announcing its CFO will take a leave of absence
• Ribbon Communications (RBBN) and Impinj (PI) lower after reporting quarterly results

5. EARNINGS/GUIDANCE

• AerCap (AER) reported Q4 results, with EPS and revenue beating consensus
• Under Armour (UA) reported Q3 results and raised its guidance for FY26
• Philip Morris (PM) reported Q4 results, with CEO Jacek Olczak commenting on “another remarkable year of results”
• Toyota Motor (TM) reported results for 9M and raised its guidance for FY26
• Biogen (BIIB) reported Q4 results, with EPS and revenue beating consensus

INDEXES:

Near midday, the Dow was up 1.98%, or 966.95, to 49,875.67, the Nasdaq was up 1.62%, or 365.75, to 22,906.34, and the S&P 500 was up 1.51%, or 102.36, to 6,900.76.