Late Night Market Recap

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  Night.Owl
 
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•  23 Jan 2026
 

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The final trading session of the week proved to be a volatile ride for Wall Street as a major tech disappointment clashed with record breaking gains in the precious metals sector. While the Nasdaq managed to eke out a small gain on the back of cybersecurity strength the blue chip Dow Jones Industrial Average suffered a significant setback. The general sentiment across the floor remains in a neutral state as geopolitical tensions regarding the Greenland trade deal continue to flicker in the background keeping the Fear and Greed Index from making a decisive move into extreme territory.

$INTC Intel Corporation faced a brutal sell off today after its fourth quarter report left investors questioning the speed of its ambitious turnaround. Although the chipmaker actually beat estimates for the previous quarter it was the dismal outlook for early 2026 that triggered the exodus. Executives warned that severe supply chain constraints would likely lead to a first quarter loss and breakeven adjusted earnings per share.

$ERIC Ericsson provided a bright spot for the telecommunications sector today as the Swedish giant reported a robust fourth quarter profit that comfortably beat analyst expectations. The company showcased strong organic sales growth of 6% led primarily by its cloud software and services division. In a move that clearly resonated with shareholders the board proposed a significant dividend hike and a massive buyback plan totaling billions in Swedish kronor.

$BHC Bausch Health Companies witnessed a steep decline in valuation today following a major disappointment in its pharmaceutical pipeline. The company announced that its Phase 3 clinical trials for a potential liver disease treatment failed to meet their primary endpoints. While the drug was reported as safe and well tolerated the lack of clear efficacy in preventing hepatic encephalopathy episodes for cirrhosis patients led to immediate selling pressure.

$FTNT Fortinet emerged as a top performer in the S&P 500 today as a significant analyst upgrade breathed new life into the cybersecurity sector. TD Cowen moved the stock to a Buy rating and set an ambitious price target citing solid channel checks that suggest stable spending heading into the new fiscal year. The analyst pushback against the idea that AI is eating into software budgets seemed to provide a necessary catalyst for the rally.

$SPOT Spotify drew attention after analysts turned more constructive, arguing that recent weakness presents an attractive entry point ahead of fourth quarter earnings. The stock closed at $513.21 in the latest session, outperforming the broader market and keeping investor focus on its upcoming results.

$AA Alcoa was in the spotlight today as it benefited from the broader surge in commodity prices and a resilient outlook for the aluminum market. The company reported fourth quarter revenue that exceeded consensus estimates driven by higher sequential aluminum prices and strategic smelter restarts. While the stock faced some choppy trading toward the close the underlying narrative of increased output for 2026 and strong global demand keeps it high on the radar for materials investors.

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