Late Night Market Recap

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  Night.Owl
 
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•  20 Jan 2026
 

•   ACHC  
   
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•   ARDX  
   
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•   DIS  
   
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•   FAST  
   
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•   FITB  
   
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$NFLX Netflix dominated late trading as shares slipped despite a narrow Q4 earnings beat and revenue coming in above expectations. Investors focused on weaker-than-expected Q1 guidance and changes to the Warner Bros. Discovery acquisition structure, which was amended to an all-cash deal. Heavy volume reflected how crowded the trade was, with bulls encouraged by subscriber growth and advertising momentum while sellers reacted to softer forward visibility.

$PFE Pfizer drifted lower as headlines centered on portfolio reshuffling rather than core earnings power. The company licensed Novavax Matrix-M adjuvant for an upfront payment and exited its majority stake in ViiV Healthcare, moves that signal strategic focus but did little to excite short-term traders in a defensive tape.

$HPE Hewlett Packard Enterprise saw sharp downside pressure after breaking below its 200-day moving average, triggering technical selling. Yield-focused investors also took note as preferred shares crossed key yield levels, reinforcing the view that rising rates and weakening momentum are weighing on traditional enterprise hardware names.

$MSTR MicroStrategy slid as Bitcoin volatility spilled back into crypto-linked equities. Social chatter around institutional positioning added to the noise, but the stock ultimately tracked broader digital asset weakness rather than company-specific fundamentals.

$KEY KeyCorp reported Q4 earnings that beat consensus on both EPS and revenue, supported by stronger net interest income. Despite solid results and a new $1.2 billion buyback plan, the stock dipped as investors focused on higher provisions and cautious forward guidance, a familiar theme for regional banks this earnings season.

$FITB Fifth Third Bancorp moved higher after delivering a clean earnings beat and issuing confident net interest income guidance. Lower provisions helped calm credit concerns, even as some investors questioned whether valuation now fully reflects the improved outlook.

$FAST Fastenal shares declined after Q4 results showed margin pressure and a slight revenue miss. Management pointed to tariffs and higher inventory costs, tempering enthusiasm despite longer-term optimism around digital expansion and projected sales growth.

$ARDX Ardelyx was one of the night standout gainers, surging on reports that Zydus Lifesciences is in talks to acquire the company. Strong momentum in IBSRELA sales added fuel, turning the stock into a clear event-driven trade.

$ACHC Acadia Healthcare soared after announcing a sudden CEO transition, with Debra Osteen returning to the top role. The company reaffirmed guidance, and investors welcomed leadership stability following weeks of uncertainty.

$UAL United Airlines posted solid Q4 earnings and upbeat commentary pointing toward record profits, but shares were volatile as traders digested guidance and broader travel sector weakness. Options activity suggested active positioning ahead of what could be another strong year for premium demand.

$SERV Serve Robotics fell sharply even as it announced an acquisition aimed at expanding its physical AI platform. Investors appeared wary of execution risk and near-term costs, highlighting the tension between long-term ambition and short-term profitability.

$TDOC Teladoc Health continued its losing streak, pushing the stock deeper into oversold territory. While some investors see value emerging after the extended slide, sentiment remains fragile as the market waits for clearer signs of stabilization.

$DIS Disney edged lower as shares slipped below a key technical level. While long-term bulls remain focused on IP strength and streaming strategy, near-term trading reflected caution ahead of heavier earnings from Dow components.

$MRK Merck traded higher on optimism around its post-Keytruda growth strategy, helped by an analyst upgrade and encouraging cancer vaccine data with Moderna. Vaccine sales weakness in Asia remains a watch point heading into earnings.

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