Midday Fly By; Kalshi hits $11B valuation, MongoDB reports Q3 beat

The major averages were broadly higher near noon, indicating some stabilization after yesterday’s pullback. Some of the gains are related to the rise in Bitcoin, which also recouped some of its Monday losses, while companies in the AI space also supported the broader market.

Looking to commodities, gold was sharply lower, curtailing some of yesterday’s gains. Meanwhile, oil prices are fractionally lower ahead of this afternoon’s API crude numbers.

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

1. STOCK NEWS:

• Prediction markets company Kalshi announced a Series E funding round of $1B at an $11B valuation
• MongoDB (MDB) provided a “beat and raise” report for Q3
• Credo Technology (CRDO) reported better-than-expected Q2 results and provided upbeat Q3 revenue guidance
• Signet Jewelers (SIG) also provided a “beat and raise” report for Q3
• Amazon Web Services (AMZN) will power Sony‘s (SONY) enterprise AI and engagement platforms

2. WALL STREET CALLS:

• Teradyne (TER) upgraded to Buy at Stifel on accelerating growth
• Truist upgrades Six Flags (FUN) to Buy on “promising” new CEO
• Symbotic (SYM) downgraded to Sell at Goldman Sachs
• Cloudflare (NET) initiated with an Overweight at Barclays
• Circle Internet (CRCL) initiated with an Underperform at Wolfe Research

3. AROUND THE WEB:

• Netflix (NFLX) has removed the ability to cast shows and movies from phones to TVs, including Chromecast with Google TV and Google TV Streamer (GOOGL) devices, unless subscribers are using older casting devices, Android Authority reports
• Instagram (META) CEO Adam Mosseri has asked the company’s U.S. staff to return to office five days a week starting in February, Sources says
• Disney’s (DIS) board plans to announce a successor to CEO Bob Iger in early 2026, with internal candidates Josh D’Amaro and Dana Walden, the parks chief and television head, respectively, as leading contenders, WSJ reports
• BP (BP) has withdrawn its application for the H2Teesside hydrogen hub in northern England after a planned data center project created a conflict over the same site, WSJ says
• Banco Santander (SAN) has sold a 3.5% stake in Santander Bank Polska for $473.1M, following its earlier agreement to divest roughly half of the unit to Erste Group (EBKDY), WSJ reports

4. MOVERS:

• Eventbrite (EB) increase after announcing it will be acquired by Bending Spoons for $500M in cash
• Boeing (BA) gains after being awarded a $104.43M Navy delivery order and CFO Jay Malave stating the company’s recovery is in “full force”
• T1 Energy (TE) higher after Johnson Rice initiated coverage of the stock with a Buy rating
• Janux Therapeutics (JANX) lower after reporting updated interim data for JANX007
• Vestis (VSTS) falls after reporting Q4 results and providing guidance for FY26

5. EARNINGS/GUIDANCE:

• Driven Brands (DRVN) lowered its guidance for FY25
• United Natural Foods (UNFI) reported Q1 results, with CEO Sandy Douglas commenting, “We started fiscal 202 with another quarter of solid execution”
• Encompass Health (EHC) reaffirmed its guidance for FY26
• Sleep Number (SNBR) backed its guidance for FY25
• Village Super Market (VLGEA) reported Q1 results, with EPS lower year-over-year

INDEXES:

Near midday, the Dow was up 0.27%, or 126.23, to 47,415.56, the Nasdaq was up 0.38%, or 87.57, to 23,363.49 and the S&P 500 was up 0.10%, or 6.79, to 6,819.42.