CLOSING BELL
Limping To Holiday Weekend
The market fell slightly Friday, limping to the end of a volatile week.
Stocks kicked off with gains but fizzled mid-morning after President Trump told Kevin Hassett he wasn’t getting the Fed job at a White House event, throwing cold water on speculation that Hassett would take over as Fed chair in May. Markets suddenly started questioning just how dovish the post-Powell Fed might actually be, if front runners like Hassett are out of the race.
"I actually want to keep you where you are, if you want to know the truth," Trump said at the White House Friday.
Regional banks like PNC and Regions Financial also climbed after solid quarterly prints. Speaking of climbing, electricity prices are through the roof, and the White House wants to organize big tech into lump-sum contracts to keep them from pricing out regular buyers, meaning normal households.
The Russell 2000 was the real story: closing at a record high and now up 8% year-to-date while the big boys basically went nowhere. Small caps don't care about your Fed drama.
Markets are closed Monday for MLK Day. Enjoy the long weekend.
TRENDING STOCKS
Bio Tech, Space Race, Nukes and Power Collide
It has been a wild Friday across the tape, ranging from penny stock explosions to a major "power shock" in the utility sector. Here is the breakdown of today’s trending movers.
ImmunityBio $IBRX ( ▲ 39.75% ) surges 38% on triple-threat clinical wins
The biotech reached new 52-week highs after reporting a "perfect storm" of positive news, including 700% revenue growth for its bladder cancer drug Anktiva and high-impact trial data for Non-Hodgkin lymphoma. Management also revealed that enrollment for its latest registrational trial exceeded internal expectations, potentially pulling the FDA filing timeline forward to late 2026.
AST SpaceMobile $ASTS ( ▲ 14.34% ) hits $116 as defense contracts validate tech
The satellite pioneer extended its historic rally after being selected as a prime contractor for the U.S. Missile Defense Agency’s $151 billion SHIELD program. This selection serves as a massive federal "seal of approval" for ASTS’s dual-use satellite technology, proving that its space-based cellular network has high-stakes applications far beyond consumer smartphones.
Concept $VERO ( ▲ 459.44% ) and Ondas $ONDS ( ▼ 5.15% ) drive volume spikes
Penny stock chaos took over as $VERO ripped 443% on a massive 300-million-share volume day, though the move remains highly speculative given its tiny $2.6M market cap. The medical, hair loss treatment company filed that Madryn Asset Management bought up a 91% controlling stake. Meanwhile, $ONDS climbed 4% as investors continued to reward its recent selection for Israel's "Drone Hives" project, marking a monster recovery from its 52-week lows.
VERO flew like a toupee in the wind Friday
But the "Power Shock" had Sector Laggards
Constellation Energy $CEG ( ▼ 9.82% ) and Vistra $VST ( ▼ 7.54% ) tank on Trump energy plan
Nuclear darlings $CEG and $VST plummeted 9% and 7%, respectively, after reports surfaced that the Trump administration plans to force tech giants like Microsoft and Meta to help lower electricity prices for consumers. Investors are spooked that a proposed "emergency power auction" could jeopardize high-margin private contracts that these utility giants recently signed to power AI data centers. ⚡
West Pharmaceutical Services $WST ( ▼ 7.02% ) slides on margin fears
$WST shares fell 7% as a broader rotation out of healthcare equipment hit the sector, with traders pointing to potential margin compression heading into the 2026 fiscal cycle. The drop follows a week of high volatility for medical suppliers as the market re-evaluates high-valuation stocks in a shifting regulatory environment.
EARNINGS
Banks and Asset Managers Show Mixed Bag Market for Market Makers
It was a busy Friday morning for the banking sector as several regional and institutional giants reported their Q4 2025 results. Here is how the numbers shook out for the "Big Four" of the morning:
PNC Financial Services Group $PNC ( ▲ 3.79% ) delivers a clean beat $PNC shares rose nearly 4% after the bank reported a "blowout" Q4 with an adjusted EPS of $4.88, crushing the $4.19 analyst consensus. Revenue hit a record $6.1 billion as the bank benefited from 5% positive operating leverage and the strategic closing of its FirstBank acquisition on January 5.
M&T Bank $MTB ( ▼ 0.14% ) sets records despite early selling $MTB reported record 2025 net income of $2.85 billion, with a Q4 EPS of $4.67 ($4.72 on an adjusted basis) beating the $4.44 estimate. While shares dipped 1.5% in early trading due to an uptick in expenses, the bank's 11% dividend hike and 26% reduction in non-accrual loans signaled significant structural strength heading into 2026.
Regions Financial $RF ( ▼ 2.63% ) misses on higher expenses $RF shares dropped 4% after the bank reported an adjusted EPS of $0.57, falling short of the $0.61 forecast. Despite a rebound in net interest margin to 3.7%, the results were weighed down by a decline in business loans and higher-than-expected non-interest expenses, including severance and litigation charges.
State Street $STT ( ▼ 6.07% ) slides despite earnings beat State Street shares fell over 5% as investors looked past an EPS beat of $2.97 (vs. $2.82 estimate) to focus on a dip in GAAP net income tied to repositioning charges. While the firm hit a massive $53.8 trillion in assets under custody and administration, the market remains concerned over rising software and processing expenses that overshadowed the top-line growth.
POPS & DROPS
Top Stocks News Stories
Novo Nordisk rose following UK approval of a higher Wegovy dose.
Venus Concept rose after Madryn Asset Management acquired a 91% stake.
Rocket Lab rose after Morgan Stanley upgraded the stock to Overweight.
Vistra rose as Trump pushed tech firms to fund AI energy.
Bit.Brother rose despite high-profile speakers missing its annual general meeting.
Diana Shipping rose after launching a proxy fight against Genco Shipping.
Genmab fell following mixed results from a late-stage drug trial.
State Street fell after reporting charges for job cuts and office closures.
