Good afternoon! Ferrari just pulled the curtain back on the interior of its first EV, the Ferrari Luce, and yes, it looks like an Apple store on wheels. That is not an accident since the cabin was designed by the firm of former Apple design chief Jony Ive, blending sleek minimalism with a surprisingly old-school twist.
Unlike the all-touchscreen trend, Ferrari packed the Luce with physical buttons and knobs so drivers can keep their eyes on the road. The usual Apple-style mix of glass, aluminum, and soft edges is everywhere, right down to iPhone-grade glass and Samsung OLED displays, while Ferrari stock got its own boost after strong results and upbeat demand forecasts.
MARKETS
Stocks sprinted out of the gate but ended the day basically flat. January hiring came in hot with 130,000 jobs added, about double expectations, which sparked an early rally that faded by the close.
The solid labor data also lowered hopes for quick rate cuts, boosting chances the Fed holds steady in March. Bitcoin $BTC briefly slipped under $67,000 before bouncing back, while oil and silver edged higher.
STOCKS
Winners & Losers
What’s up 📈
Teradata soared 29.46% after posting Q4 sales and earnings beats with stronger guidance $TDC
Vertiv jumped 24.49% as 2026 guidance and order growth impressed investors $VRT
BorgWarner rallied 22.6% after announcing moves into AI data center power markets $BWA
Generac gained 17.93% as upbeat 2026 sales guidance outweighed an earnings miss $GNRC
Acadia Healthcare climbed 13.69% after David Einhorn revealed a stake $ACHC
Uniswap rose 6.64% after reports of token buying interest from BlackRock $UNI
SharkNinja added 5.62% on strong holiday sales and global expansion momentum $SN
Cloudflare advanced 5.24% on an earnings beat and AI-driven demand outlook $NET
Gilead ticked up 5.79% as HIV drug sales powered an earnings beat $GILD
What’s down 📉
Unity Software plunged 26.34% after weak guidance reignited software sector fears $U
Mattel sank 24.98% on a holiday-quarter miss and soft outlook $MAT
Astera Labs fell 21.40% despite strong results, as an Amazon warrant deal pressured margins $ALAB
Dassault Systèmes dropped 20.87% after issuing disappointing guidance $DASTY
Zillow slid 17.14% after an earnings miss and warning of margin pressure $ZG
Lyft tumbled 16.97% on weak rider metrics and a disappointing outlook $LYFT
Robinhood lost 8.89% after missing Q4 revenue expectations $HOOD
Shopify declined 6.49% despite strong holiday revenue and a buyback announcement $SHOP
American Airlines fell 4.97% amid union pushback on strategy $AAL
Moderna slipped 3.54% after the FDA declined to review its flu vaccine $MRNA
EARNINGS
Robinhood Beats on Profit, but Slowing Crypto Revenue Weighs on Shares
Robinhood $HOOD turned in better-than-expected profits for the fourth quarter, but Wall Street was not ready to celebrate. A revenue miss and a sharp cooldown in crypto trading overshadowed the earnings beat, sending shares lower as investors question how durable the company’s growth really is.
Under the hood, the story is less boom-and-bust and more transition phase.
Profit Strong, Sales Not So Much
Robinhood posted earnings per share of $0.66, topping the $0.63 analysts had penciled in. Revenue climbed 27% year over year to a record $1.28 billion, but still fell short of the $1.35 billion Wall Street was expecting.
The biggest drag was crypto. Transaction revenue came in at $776 million, and crypto trading revenue plunged 38% from a year earlier to $221 million as speculative activity cooled off.
Prediction Markets Pick Up the Slack
Not all trading slowed. Activity in equities, options, and especially prediction markets helped cushion the crypto slump. Robinhood said more than 12 billion event contracts were traded on its platform last year, with 8.5 billion of those coming in the fourth quarter alone.
Net interest revenue also jumped 39% to $411 million, showing that higher customer balances and lending are becoming a more meaningful piece of the business.
Can Robinhood Prove It’s More Than a Crypto Play
After massive stock gains in 2024 and 2025, Robinhood shares have pulled back as crypto markets cooled and investors reassessed trading volumes. The company is now leaning into banking-style services, wealth features, and event-based trading as it pushes toward its “financial super app” vision.
The big question for 2026 is whether those newer businesses can grow fast enough to offset a softer crypto cycle. Investors are no longer just watching how many people trade — they’re watching what they trade, and how sticky those habits really are.
NEWS
Market Movements
⚡ Vertiv rips on blowout guidance: Vertiv $VRT beat Q4 EPS and issued Q1 and full-year 2026 outlooks that cleared even the highest analyst estimates. Investors see the power-and-cooling supplier as a core winner in the AI data center buildout.
🧠 Dan Ives says Big Tech capex fears are overblown: Wedbush’s Dan Ives argued Microsoft $MSFT and Alphabet $GOOGL spending roughly $300B on AI infrastructure is a long-term positive. He says AI-first cloud workloads drive stickier customers, longer contracts, and future pricing power.
🎮 Unity gets crushed after weak outlook: Unity $U guided Q1 revenue and EBITDA below expectations, reigniting fears its gaming engine and ad tech businesses are losing ground to AI tools and new competitors. Adoption of its newer products also appears slower than hoped.
📊 Jobs report blows past forecasts: Payrolls rose 130,000 vs 65,000 expected and unemployment dipped to 4.3%, complicating the rate-cut narrative. Nearly all the gains came from healthcare, showing strength but not broad-based momentum.
₿ Bitcoin stuck in a macro tug-of-war: Bitcoin $BTC dipped below $67K before rebounding, as traders say macro forces like rates and liquidity are driving price more than crypto headlines. Analysts are watching the 200-week EMA as a key support level.
🏙️ Data centers are moving downtown: AI infrastructure is shifting from giant rural campuses to smaller urban “edge” sites closer to users to cut latency. Developers are converting old offices and industrial buildings into mini data hubs, though power and zoning battles remain.
💻 Software slump spreads: Weak outlooks from Dassault Systèmes $DASTY and Unity $U dragged down the broader software space, hitting names like Atlassian $TEAM, GitLab $GTLB, Salesforce $CRM, ServiceNow $NOW, Adobe $ADBE, and Oracle $ORCL. Teradata $TDC was a rare bright spot.
💾 Micron starts shipping HBM4 early: Micron $MU jumped after saying it began HBM4 shipments a quarter earlier than planned. Tight supply in high-bandwidth memory is expected to last beyond 2026, supporting strong demand from AI chipmakers.
🤖 Apptronik raises $520M for humanoid robots: Apptronik secured fresh funding backed by Alphabet $GOOGL, Mercedes-Benz $MBGYY, AT&T $T, and John Deere $DE. Its Apollo humanoid robot targets warehouse and manufacturing jobs as AI moves into the physical world.
📰 Lyft slumps on surprise operating loss and weak Q1 guide: Lyft $LYFT sold off after guiding Q1 adjusted EBITDA to $120M–$140M, below expectations, even as bookings were roughly in line. Management blamed heavier rival promos for a $188.4M 2025 operating loss and announced a new $1B buyback on top of a prior $750M authorization.
🚘 Ford beats revenue, misses earnings: Ford $F topped Q4 revenue estimates with $45.9B but missed on EPS at $0.13 vs $0.18 expected. The bigger story is 2026, where its EV unit is projected to lose $4B–$4.5B as the company balances legacy profits with an expensive EV transition.
💎 Ethereum ETF holders keep “diamond hands”: Ethereum $ETH ETF investors are down roughly 45% from average cost basis levels, a steeper hit than Bitcoin $BTC funds, yet outflows have been relatively modest. So far, most holders are still sticking with their positions despite the pain.
STOCK
Bill Ackman Places a $2 Billion Bet on Meta
Bill Ackman just put serious money behind his AI optimism. His hedge fund, Pershing Square, revealed a roughly $2 billion stake in Meta $META, making it about 10% of the firm’s portfolio and one of its highest-conviction bets.
The timing is notable. Meta shares have slipped in recent months as investors side-eye the company’s massive AI spending spree, but Ackman is clearly betting those investments will pay off in a big way.
Why Ackman Thinks AI Supercharges Meta
Pershing Square’s thesis is that Meta may be one of the biggest corporate winners from AI integration. Smarter recommendation systems, more personalized ads, and new AI-powered products could all drive higher engagement and ad revenue across its platforms.
The firm also sees optionality beyond ads, including wearables and AI assistants for businesses. In its investor presentation, Pershing called Meta’s model “one of the clearest beneficiaries of AI integration.”
A Classic Ackman-Style High Conviction Move
Ackman is known for running a concentrated portfolio, and this fits the pattern. Pershing Square held just 13 positions at the end of 2025, including other mega-cap names like Alphabet $GOOGL and Amazon $AMZN.
The Meta stake was built starting in November at an average cost of about $625 per share. Shares climbed 11% from then through year-end and have added a bit more in early 2026, giving Ackman an early gain as he doubles down on AI’s long-term payoff.
CALENDAR
On The Horizon
Tomorrow
The economic calendar is doing a bit of everything today. Fed governor Stephen Miran is back on the mic, while fresh data on existing home sales and weekly jobless claims will offer a pulse check on housing and the labor market. Nothing earth-shattering on its own, but together they help investors gauge whether the economy is cooling gently or just pretending to.
Earnings season stays busy with reports from industrial heavyweights, luxury brands, chip equipment makers, and travel names. Results from companies like Applied Materials, SoftBank, Airbnb, DraftKings, and Mercedes-Benz should give read-throughs on AI spending, consumer demand, and global growth trends all in one go.
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