Midday Fly By: Coca-Cola reports Q4 beat, BP suspends buyback

The major averages were fractionally higher near noon after the Dow Jones Industrial Average closed at record levels on Monday. Investors are weighing fresh macroeconomic data, earnings developments, and sector rotation as they await the delayed January jobs report. Tech and semiconductor stocks are notably active, reflecting ongoing volatility in the sector with some names moving sharply while others lag, underscoring the uneven leadership that has characterized trading lately. Commodities and crypto markets continue to display volatility as well, reflecting ongoing debate about growth prospects and investor positioning in a still-uncertain macro climate.

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

1. STOCK NEWS:

• Coca-Cola (KO) reported upbeat Q4 results and provided its outlook for Q1 and FY26
• CVS Health (CVS) reported better-than-expected Q4 earnings and revenue and reiterated its FY26 guidance
• Spotify (SPOT) reported year-over-year increases in Q4 earnings and revenue
• Paramount Skydance (PSKY) enhanced its $30 per share all-cash offer for Warner Bros. Discovery (WBD)
• BP (BP) reported downbeat Q4 earnings and announced the suspension of its share buyback program

2. WALL STREET CALLS:

• Oppenheimer (U) to Outperform, says selloff “fundamentally misplaced”
• Vistra (VST) upgraded to Buy at Jefferies
• Under Armour (UAA) downgraded to Sell at Citi
• Qualcomm (QCOM) resumed with an Underweight at Morgan Stanley
• Take-Two (TTWO) upgraded to Strong Buy at Raymond James

3. AROUND THE WEB:

• After years of on and off attempts at a potential deal, UniFirst (UNF) is in active discussions to be acquired by Cintas (CTAS), Bloomberg says
• Meta (META) unit WhatsApp’s fight against E.U.’s privacy watchdog was sent back to a lower tribunal, extending the five-year fight initiated by the Irish data protection authority to increase a fine to $268M, Reuters reports
• Alibaba’s (BABA) Qwen has temporarily stopped issuing coupons due to customer overload, hampering Alibaba’s Agentic AI ad campaign, Reuters says
• Amazon.com (AMZN) has notified industry executives that it is planning to start a marketplace where publishers can market content to firms offering AI products, Information reports
• Culper Research said it is “again” short Archer Aviation (ACHR)

4. MOVERS:

• European Wax Center (EWCZ) increases after announcing it will be taken private by General Atlantic for $5.80 per share
• Evommune (EVMN) gains after announcing its EVO301 trial met its primary endpoint
• Datadog (DDOG) and Ichor Holdings (ICHR) higher after reporting quarterly results
• Gilat Satellite (GILT) and Upwork (UPWK) fall in New York after reporting Q4 results
• Jumia Technologies (JMIA) lower in New York after reporting Q4 results and providing guidance for Q1

5. EARNINGS/GUIDANCE

• Vestis (VSTS) reported Q1 results and reaffirmed its guidance for FY26
• Ecolab (ECL) reported Q4 results, with CEO Christophe Beck commenting, “2025 was a record year for Ecolab”
• iRadimed (IRMD) reported Q4 results, with EPS higher year-over-year
• AstraZeneca (AZN) reported Q4 results, with the company commenting, “In 2025 we saw strong commercial performance across our therapy areas and excellent pipeline delivery”
• Fiserv (FISV) reported Q4 results and provided guidance for FY26

INDEXES:

Near midday, the Dow was up 0.52%, or 258.96, to 50,394.83, the Nasdaq was flat at 23,239.28, and the S&P 500 was up 0.11%, or 7.70, to 6,972.52.