Midday Fly By: Berkshire cuts Amazon stake, MSG Sports weighs spinoff

The major averages were broadly higher near noon, with gains supported by optimism around corporate earnings, particularly in technology and select cyclical segments. Many Asian markets remain closed for the Lunar New Year, keeping regional trading light and volume subdued. U.S. markets are trading with a modestly positive and cautiously optimistic tone as major equity futures climb and global stock benchmarks rally, reflecting a rebound from recent volatility driven by artificial-intelligence sentiment and sector rotation.

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Looking to commodities, gold was sharply higher, rebounding from yesterday’s losses as the “safe haven” asset continues to have a tumultuous year. Oil was sharply higher as well ahead of this afternoon’s API crude data and tomorrow’s DOE inventory reports.

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

1. STOCK NEWS:

• Bershire Hathaway (BRK.A)(NYT) and cut its stake in Amazon (AMZN)
• Palo Alto Networks (PANW) reported upbeat Q2 results and cut its FY26 earnings outlook
• Moderna (MRNA) said the FDA will initiate a review of its seasonal influenza vaccine submission
• MSG Sports (MSGS) is weighing a spin-off that would separate its New York Knicks business from its New York Rangers business
• Meta (META) announced a long-term infrastructure partnership with Nvidia (NVDA)

2. WALL STREET CALLS:

• Palantir (PLTR) upgraded to Outperform from Neutral at Mizuho
• BioAge Labs (BIOA) upgraded to Buy from Hold at Jefferies
• Workday (WDAY) downgraded to Market Perform at Citizens
• Genuine Parts (GPC) downgraded to Hold from Buy at Truist
• Williams Trading (CROX) to Sell on eroding U.S. demand

3. AROUND THE WEB:

• Activist investor Starboard Value is asking Riot Platforms (RIOT) to speed up its transition from Bitcoin miner to a data center company that could house hyperscaler tenants, Bloomberg says
• JPMorgan Chase (JPM) intends to open over 160 branches in 30 states in 2026 as the company further invests in its brick-and-mortar network, FT reports
• Microsoft (MSFT) is on pace to invest $50B by the end of the decade to help AI expand to countries across the ‘Global South,’ specifically emerging or lower-income countries in the southern hemisphere, Reuters says
• AT&T (T) is being sued by NYC pension funds for blocking a shareholder vote on workforce diversity disclosures, Reuters says
• Chinese conglomerate Tencent (TCEHY) was the undisclosed main financial backer of game developer Wildlight Entertainment, which released its debut free-to-play multiplayer title “Highguard” late last month, Game File says

4. MOVERS:

• Sabre (SABR) increases after reporting Q4 results and naming Shawn Williams as Chief Commercial Officer
• Immunity (IBRX) gains after the European Commission granted conditional marketing authorization for Anktiva
• Mister Car Wash (MCW) and Caesars (CZR) higher after reporting quarterly results
• Axcelis (ACLS) falls after reporting Q4 results and providing guidance for Q1
• HF Sinclair (DINO) lower after reporting Q4 results and announcing the departure of CEO Tim Go

5. EARNINGS/GUIDANCE

• Insulet (PODD) reported Q4 results and provided guidance for FY26
• LCI Industries (LCII) reported Q4 results, with CEO Jason Lippert commenting, “We delivered a very strong 2025”
• Clean Harbors (CLH) reported Q4 results, with EPS and revenue beating consensus
• Wingstop (WING) reported Q4 results and provided guidance for FY26, with CEO Michael Skipworth commenting, “Our team continues to demonstrate operational excellence as we opened 493 net new restaurants and expanded into six new international markets”
• JLL (JLL) reported Q4 results, with EPS and revenue beating consensus

INDEXES:

Near midday, the Dow was up 0.52%, or 258.55, to 49,791.74, the Nasdaq was up 1.20%, or 271.50, to 22,849.89, and the S&P 500 was up 0.79%, or 54.19, to 6,897.41.