Happy Thursday Zingers! Hide your wife! Hide your ZYNs! A New York politician is out to ban the ubiquitous nicotine pouch. Tragic news for finance bros across the country. I guess I can see the logic from a “cleaning up the streets” standpoint. But I’m not sure it’s smart economic policy, considering the potential impact it could have on productivity, not to mention GDP.

We just need a 2024 6mg-Spearmint-packing Don Draper to talk our way out of this predicament. I can see the billboards now: “ZYN. It’s synthetic.”

Today’s Price Action:

$SPY: +.54%
$QQQ: +.12%
$DIA: +.63%

Also, if you trade $SPY, you might want to consider this ETF instead.

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

American Airlines Soars Higher After Upbeat Earnings

Briefly: Airline stocks have been in for a bumpy ride so far to start the year, but American Airlines defied gravity today.

So Basically: American reported better-than-expected EPS and sales numbers that were in line with estimates.

So Then: The airline ended the day as one of the S&P 500’s top gainers as its stock soared by more than 10%.

So What? You know what they say: A rising tailwind lifts all wings. Delta and United Airlines also moved higher on the day, each closing up around 5%. Well, okay, not all. Southwest fell by a little more than 2%.

What Next: A company executive said American continues to see strong bookings and raised profit guidance for 2024. Read more here.

PRESENTED BY CBOE

FIVE MOVERS

Levi Strauss shares were frayed after the close following a weaker-than-expected outlook.

PayPal stock moved lower on the day after the company failed to impress investors at its PayPal First Look keynote event.

Google stock closed higher by nearly 3% today after the company resolved a patent lawsuit involving AI.

IBM stock continued to move higher in Thursday’s session, following the company’s impressive earnings report.

Northrop Grumman shares took a hit today after the company’s earnings report showed slowing growth.

ONE TRADE IDEA FOR TOMORROW

Microsoft Azure's Bright Future

Briefly: Microsoft may be at the top of the mountain after briefly breaching a $3 trillion market cap yesterday — but analysts say it’s not at its peak.

Who: Piper Sandler analyst Brent A. Bracelin maintained an Overweight rating on Microsoft with a price target of $455. Oppenheimer analyst Timothy Horan had an Outperform rating with a price target of $410.

Why: Bracelin predicts Azure growth could accelerate, with a clear revenue path to $95 billion within two years. Horan noted that Copilot delivers measurable gains, resulting in strong demand, justifying premium pricing.

So What? Horan believes this quarter is pivotal for Microsoft and the wider sector, as it provides an early look into its inroads as the full-stack, one-stop shop for AI and progress monetizing Generative AI. 

What Next: Check out the analysts’ full thoughts here.

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