RL News & Events

The major averages closed lower following yesterday's gains. The bounce yesterday was driven by headlines suggesting a de-escalation with Iran, but that narrative is already fraying. Oil has turned higher again, climbing back above $90 for the WTI benchmark as optimism fades and the reality of disrupted supply through the Strait of Hormuz reasserts itself.Meanwhile, The Wall Street Journal reported that the Pentagon intends to deploy 3,000 Airborne U.S. soldiers to the Middle East. A written order to deploy the unit is expected later Wednesday, officials told The Journal.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Estee Lauderconfirmed it is inwith Puig BrandsSmithfield Foodsreportedand provided FY26 revenue guidanceNetgearsurged following reports that the FCC hasSumitomo Mitsuiis considering a potential takeover of Jefferies,Ares Managementsaid it isin the Ares Strategic Income fund2. WALL STREET CALLS:UBSJFrogto Buy after 30% AI-driven selloffCoreWeaveat Buy at BofACitiRalph Laurento Buy on post-selloff opportunityJPMorganXencoron a lack of "needle-moving" catalystsUltragenyxto Neutral from Buy at Goldman Sachs3. AROUND THE WEB:OpenAI is set to raise about $10B from venture investors, Bloomberg reportsCulper Research is short Adma Biologics, saying the company's reported growth is "a fiction"Microsoftto rent data center project in Texas dropped by Oracle, Bloomberg saysSouth Korean AI startup Upstage is in talks to acquire 10K AMDMI355 chips, in a bid to "diversify to other chips" as "we have a lot of Nvidiachips," Bloomberg reportsPalantirhas been awarded a three-month contract by the UK's Financial Conduct Authority to analyze sensitive internal data in an effort to combat financial crime, sparking concerns about the U.S. firm's expanding role in the British state, The Guardian says4. MOVERS:Applied Optoelectronicsincreased after receiving afrom a hyperscale customerSM Energygained after Truistcoverage of the stock with a Buy ratingHesaislipped afterand providing guidance for Q1Ocugenfell afterfrom its ArMaDa trial of OCU410Trade Deskwas lower afterthat Omnicomis auditing Trade Desk's fees5. EARNINGS/GUIDANCE:Core & Mainand provided guidance for Q1 and FY26, with CEO Mark Witkowski commenting, "Fiscal 2025 marked our 16th consecutive year of sales growth"Concentrix, with EPS missing consensusAchieve Life Sciences, with EPS in-line with consensusCore LaboratoriesprovidedNeurogene, with EPS higher year-over-yearINDEXES:The Dow fell 84.41, or 0.18%, to 46,124.06, the Nasdaq lost 184.86, or 0.84%, to 21,761.90, and the S&P 500 declined 24.63, or 0.37%, to 6,556.37.

The major averages were mixed near noon, with the Dow and S&P 500 inching higher following yestereday's gains. The bounce yesterday was driven by headlines suggesting a de-escalation with Iran, but that narrative is already fraying. Oil has turned higher again, climbing back above $90 for the WTI benchmark as optimism fades and the reality of disrupted supply through the Strait of Hormuz reasserts itself.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Estee Lauderconfirmed it iswith Puig BrandsSmithfield Foodsreportedand provided FY26 revenue guidanceNetgearsurged following reports that the FCC hasSumitomo Mitsuiis considering a potential takeover of Jefferies,Ares Managementsaid it isin the Ares Strategic Income fund2. WALL STREET CALLS:UBSJFrogto Buy after 30% AI-driven selloffCoreWeaveat Buy at BofACitiRalph Laurento Buy on post-selloff opportunityJPMorganXencoron a lack of "needle-moving" catalystsUltragenyxto Neutral from Buy at Goldman Sachs3. AROUND THE WEB:Microsoft (MSFT) to rent data center project in Texas dropped by Oracle, Bloomberg saysSouth Korean AI startup Upstage is in talks to acquire 10K AMDMI355 chips, in a bid to "diversify to other chips" as "we have a lot of Nvidiachips," Bloomberg reportsPalantirhas been awarded a three-month contract by the UK's Financial Conduct Authority to analyze sensitive internal data in an effort to combat financial crime, sparking concerns about the U.S. firm's expanding role in the British state, The Guardian saysNintendohas cut back on the production of the Switch 2 after lower-than-expected demand for the $450 gaming console during the year-end holiday season, Bloomberg reportsGooglehas signed agreements with five U.S. electric utilities to curtail its electricity use during peak demand, Reuters says4. MOVERS:Applied Optoelectronicsincreases after receiving afrom a hyperscale customerSM Energygains after Truistof the stock with a Buy ratingHesaislips afterand providing guidance for Q1ImmunityBiolower after the FDA sent arelated to the promotion of AnktivaOcugenfalls after announcingfrom its ArMaDa trial of OCU4105. EARNINGS/GUIDANCE:Core & Mainand provided guidance for Q1 and FY26, with CEO Mark Witkowski commenting, "Fiscal 2025 marked our 16th consecutive year of sales growth"Concentrix, with EPS missing consensusAchieve Life Sciences, with EPS in-line with consensusCore LaboratoriesNeurogene, with EPS higher year-over-yearINDEXES:Near midday, the Dow was up 0.31%, or 142.18, to 46,350.65, the Nasdaq was down 0.27%, or 59.83, to 21,886.93, and the S&P 500 was up 0.13%, or 8.57, to 6,589.57.

Ralph Lauren announced the next phase of its Global Citizenship & Sustainability strategy, Timeless by Design 2030. The strategy builds on the Company's meaningful progress over the past several years to enhance the resilience of the teams, communities, partners and natural resources essential to its business. Guided by the Company's Purpose - to inspire the dream of a better life through authenticity and timeless style - Timeless by Design 2030 is a focused, intentional approach to driving positive impact across Ralph Lauren's value chain. Since releasing its first GC&S strategy, the Company has made significant advancements and evolved practices throughout its operations to maintain and further advance its progress. This includes reducing GHG emissions; decreasing total water use; meeting at least one sustainable material criteria in 99% of units produced; and expanding its reach and impact in the fight against cancer. Timeless by Design 2030 is focused on building on these efforts. The Timeless by Design 2030 pillars and flagship programs are: Partner for Impact: This pillar outlines the key partnerships that will help the Company reduce carbon emissions and water use, expand empowerment and life skills programs for workers throughout its supply chain and strengthen strategic supplier relationships. Design with Intent, the Company's industry-leading work to integrate culturally sustainable design into its product and storytelling, serves as the flagship program. Protect Natural Resources: This pillar focuses on initiatives that address climate- and nature-related impacts, including creating products aligned to the Company's circular principles, enabling circular experiences for consumers and investing in innovative materials. As cotton is Ralph Lauren's chief material, Cotton Stewardship is the flagship program, accelerating the shift toward regenerative and recycled cotton. Engage & Enable Teams: This pillar centers on the programs that support Ralph Lauren employees' growth and development and foster a culture of belonging that attracts and retains the industry's best talent. The flagship program, Only at RL, encompasses the unique experience of working at Ralph Lauren and how employees build careers in an environment where everyone feels valued. Care for Communities: This pillar advances the Company's longstanding efforts to give back to the communities it serves, including employee volunteering, philanthropic giving and strategic partnerships. Pink Pony, Ralph Lauren's global initiative in the fight against cancer, is the flagship program.