The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1226 ET - The Tuesday sell-off of TransDigm Group following the company's earnings is disconnected from the business's fundamentals, Morgan Stanley analysts write in a note, maintaining their overweight rating. Despite the aircraft component maker posting slower growth than some of its peers with more exposure to the engine market, they write that this disparity was already priced into the valuation. Though the company's acquisitions have become less accretive over time, "we don't see these points as fundamental headwinds for the business," they write. "We expect TDG to continue to execute on its historical operating playbook and deploy capital for acquisitions, special dividends, and share repurchases." Shares are down 4% after a 9.3% decline on Tuesday. (elias.schisgall@wsj.com)
1203 ET - Bitfarms' liquidity is exposed to the falling price of bitcoin. The company is in the midst of transforming from a bitcoin miner to an energy infrastructure company, but mining still remains a core part of the business. In its 3Q the company mined 520 bitcoin, and sold off 185, which propped liquidity of cash $637 million with $177 million in unencumbered bitcoin. However, the price of bitcoin has been rapidly declining, falling sharply to around $73,500 from its peaks over $120,000 in 2025. The drop in prices has compressed margins, as mining economics work against producers in a downturn when network difficulty continues to rise, driving energy and computing costs up while the value of mined coins declines. Shares are down 13% to C$2.76. (adriano.marchese@wsj.com)
1155 ET - The New York Times' investments in video production pushed up its 4Q costs, but the company says that it expects to generate strong returns from those investments. "We just see it as a really big, long-term opportunity to establish The Times as the preferred brand for watching news, in addition to reading and listening to that news," Chief Executive Meredith Kopit Levien says on the company's earnings call. "It's early days, and the phase we're in right now is really ramping up that production and building a wide, engaged audience for it." Shares fall 9.8%. (nicholas.miller@wsj.com)
1154 ET - Spain's Santander will focus on organic growth and isn't planning to pursue any more acquisitions or disposals, the bank's chair says at a press conference. The group announced a $12.3 billion deal to buy Webster in the U.S., months after agreeing to buy TSB in the U.K. and exiting its Polish business. "We are where we want to be, we are at the scale we need to be," Ana Botin says. "In one year, we have managed to exit a market where we had no synergies or network effect with other markets and enter two where we do have them, bringing those two markets to the scale necessary to be one of the most profitable banks," she added, referring to the U.S. and the U.K. Shares are down 3.5% at 10.69 euros. (elena.vardon@wsj.com)
1151 ET - ATS' new CEO Doug Wright has been in the role only a few weeks, but Maxim Sytchev of National Bank of Canada says he's setting the company on the right track. The analyst says in a report that Wright's early priorities around "realizing full potential when it comes to margins, further diversifying and solidifying revenue streams, and converting the improving balance sheet stance into M&A were well received." Sytchev notes a "minor caveat" for 2027, with the consensus modeling "a +80 bps margin expansion," a pace that has "been lacking for a number of reasons," including mix, EV rollover and tariffs. Even so, he says that the company is well positioned thanks to its healthy Life Sciences segment, strengthening Nuclear opportunities and more resilient Consumer and Food markets. (adriano.marchese@wsj.com)
1145 ET - Gold prices trim gains, with futures in New York falling back below $5,000 a troy ounce. "Dip buyers have shown up around the $4,500 region, and the rebound has been swift," says Fawad Razaqzada from Forex.com. "But from a structural point of view, meaningful technical damage has already been done. After swings like this, markets usually need time to consolidate." In evening trade, gold is flat at $4,933 a troy ounce, after climbing above $5,100 an ounce earlier in the session. (giulia.petroni@wsj.com)
1134 ET - New York City's tough rental market has entered a new phase defined by renters staying in place, Realtor.com says. Rents continued climbing in 4Q, reaching a median of $3,585--up 6.6%. The lack of turnover is leaving new households with limited options. Nearly 90% of NYC renters remained in the same unit they occupied a year ago, a rate far exceeding the national average of 78.4%. In some boroughs, the immobility is even more stark: in the Bronx, 93.7% of renters stayed in place in 2024, with a median move-in year of 2015. NYC asking rents are rising, while the inventory for units is being squeezed by record-low turnover, Realtor.com says. Mayor Mamdani's promised rent freeze on stabilized units could tighten mobility even further, potentially pushing market-rate rents even higher as the pool of available apartments shrinks, according to Realtor.com. (chris.wack@wsj.com)
1120 ET - Colliers is making a deeper push into engineering with its acquisition of Ayesa Engineering, says Stephen Sheldon of William Blair in a report. He says the Ayesa acquisition "further differentiates Colliers from other large commercial real estate services providers through more specialized engineering capabilities." Sheldon notes the move reflects Colliers' effort to build a "robust global engineering platform" starting with the acquisition of Maser Consulting in 2020, followed by a handful of tuck-in engineering acquisitions--including two others already in 2026--and the larger acquisition of Englobe in 2024. Sheldon says the shift strengthens the earnings mix by driving "a higher mix of recurring profit, which is already over 70%," and should improve durability of the business when transactional service lines lag. (adriano.marchese@wsj.com)
1113 ET - Recent falls in cryptocurrencies have left buyers looking at the next chart support levels where they could buy them back at a cheaper level after a steep fall, Trade Nation's David Morrison says in a note. Both bitcoin and ether have "come under near-constant selling pressure" since mid-January and Morrison estimates the next major support levels at $70,000 for bitcoin and $2,000 for ether. "The bulls are searching out levels of significant support, calculating if they can hang in there should there be another lurch lower," he says. Bitcoin hit a 15-month low of $72,902 Tuesday and last trades at $73,932. Ether hit its lowest in nearly 9 months at $2,109.18 Tuesday and is last at $2,147.45, LSEG data show. (jessica.fleetham@wsj.com)
1109 ET - New-car sales in Canada fell in January from a year ago, but to a level that still represents relatively healthy activity, says the latest data from DesRosiers Automotive Consultants. The auto-data firm notes that January 2025 was a historically strong month, which in the auto-dealership business represents a slow period as households deal with post-Christmas expenses and winter weather. Overall, sales last month fell 2.9% to 114,000 units, DesRosiers says. That still represents a healthy seasonally adjusted annualized rate of 2.08 million, or above levels recorded in 3Q and 4Q, the firm says. Given the economic uncertainty posed by U.S.-Canada trade ties and cold winter weather, January's results "definitely exceeded expectations," says Andrew King, DesRosiers' managing partner. (paul.vieira@wsj.com; @paulvieira)
1102 ET - Enphase's differentiated technology will help the company successfully offset the decline in residential solar demand from the end of a key tax credit last year, say Oppenheimer analysts. "We continue to believe ENPH's power management and controls capabilities uniquely meet the complex challenges of an overtaxed grid," the analysts say. The company's product roadmap is positioning it for improved margins and the value proposition for customers, while its bidirectional charging technology is well-suited for 800V data center applications, according to the analysts. The company is set up to gain share and outperform expectations as it introduces its new products at an accelerated pace, the analysts add. Enphase surges 38% after a beat and raise 4Q. (nicholas.miller@wsj.com)
1033 ET - Solar equipment maker Enphase Energy jumps 40% after 4Q results beat top and bottom-line expectations and the company raises 1Q revenue guidance. The fortunes of Enphase are starting to turn a corner with U.S. solar demand picking up, say Susquehanna's Charles Minervino and Eric Clay. "Overall, we think 1Q will likely mark trough levels for ENPH, as a number of tailwinds including new product introductions, rising utility rates, and prepaid leases drive a recovery beginning in the 2H of the year," the analysts say. Higher utility rates will improve the value proposition of solar, the analysts add, as prepaid leases gain greater adoption to offset declines from the end of a residential solar tax credit last year. (nicholas.miller@wsj.com)
(END) Dow Jones Newswires
February 04, 2026 12:26 ET (17:26 GMT)
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