Stock Indexes Open Lower to End Volatile Week; Intel Shares Sink on Soft Outlook; Gold Sets Latest All-Time High

Booz Allen Hamilton ‘Getting Its Groove Back’ After Lifted Profit Outlook

FROM 20 minutes ago

Booz Allen Hamilton Holding (BAH) is “getting its groove back” after the advanced technology company and government contractor raised its fiscal 2026 profit forecast as it reported third-quarter results, according to William Blair analysts.

The McLean, Va.-based firm now sees full-year adjusted earnings per share of $5.95 to $6.15, up from its prior projection of $5.45 to $5.65.

“There was risk to the full-year outlook heading into this quarter as the impact of the government shutdown was unknown, and investors were looking for any sign of strength,” the analysts wrote.

In Q3, Booz Allen posted adjusted EPS of $1.77, well above expectations of $1.28. Revenue of $2.62 billion came up short of the consensus estimate of $2.72 billion.

Booz Allen shares were up 10% before the bell. They entered Friday down about 30% over the past year.

Sallie Mae Stock Surges on Profit Beat, $500M Buyback

FROM 46 minutes ago

Shares of SLM Corp. (SLM) popped 8.5% before the bell Friday, a day after the company better known as Sallie Mae reported better-than-expected fourth-quarter profit and announced a $500 buyback program.

The Newark, Del.-based student loan company reported Q4 profit of $1.12 per share. Analysts surveyed by Visible Alpha had expected $0.93 per share.

In addition, Sallie Mae said it was announcing a half-billion-dollar, 24-month share repurchase program, and that it had $33 million capacity remaining on its 2024 buyback program.

SLM Corp. shares entered the day down about 9% over the past year.

US Airlines Cancel Nearly 2,000 Flights Because of Massive Storm

FROM 1 hr 21 min ago

American Airlines (AAL), Southwest Airlines (LUV), and their fellow carriers have canceled hundreds of flights ahead of a massive storm.

American Airlines canceled 64 flights scheduled for Friday and 529 for Saturday, while Southwest nixed 94 today and 235 tomorrow, according to flight tracker FlightAware.

The two carriers are based in the Dallas area, which has seen the most cancellations. Dallas-Fort Worth International airport, a hub for American, has 547 flights canceled for Saturday, while Dallas Love Field, where Southwest has a major presence, has 69 cancellations.

All told, U.S. airlines have canceled nearly 2,000 flights through Sunday.

Shares of American and Southwest were little changed and down about 0.5%, respectively, before the bell.

The Federal Reserve Is Still Dealing With the Shutdown’s ‘Data Fog’

FROM 2 hr 11 min ago

The 43-day government shutdown may feel like ancient history, but it’s still fouling up key economic data.

The government’s official reports on inflation have been both delayed and distorted by the shutdown that spanned October and part of November. That’s complicating the job of Federal Reserve officials who meet next week to set the nation’s monetary policy.

Thursday’s report on Personal Consumption Expenditures inflation, which normally covers December, instead covered only October and November, as the Bureau of Economic Analysis played catch-up. Monthly PCE reports won’t get back to their regular schedule until April.

The other major inflation report, the Consumer Price Index, was also affected. The Bureau of Labor Statistics skipped gathering October data entirely, since the agency could not carry out the surveys it uses to make the report. The agency also collected prices later in November than it normally would, leading some economists to speculate that holiday sales may have distorted the data.

Read the full article here.

–Diccon Hyatt

After Trump’s Greenland Deal, Wall Street Is Talking Up the ‘TACO Trade’ Again. What’s Next?

FROM 3 hr 10 min ago

Yesterday was Taco Thursday on Wall Street.

U.S. stocks, which rallied Wednesday, extended their gains Thursday after President Donald Trump said he would not use force to take over Greenland nor impose new tariffs on a group of European nations after the U.S. and NATO reached a “framework of a future deal” on Greenland’s sovereignty. 

The détente revived talk on Wall Street of the TACO, or “Trump Always Chickens Out,” concept, which broadly refers to the president’s habit of threatening steep tariffs or other dramatic actions before reducing, delaying, or canceling them. This has inspired the so-called TACO Trade, in which investors buy assets rattled by the president’s threats under the assumption they’ll eventually rebound. 

“TACO” entered Wall Street’s lexicon via Financial Times columnist Robert Armstrong. “The US administration does not have a very high tolerance for market and economic pressure, and will be quick to back off when tariffs cause pain,” wrote Armstrong in May as stocks rebounded from the carnage of “Liberation Day.”

Later that month, Trump appeared to confirm Armstrong’s theory. Stocks soared on May 12 after the U.S. and China agreed to a 90-day pause on tariffs exceeding 100%, and jumped again weeks later when Trump announced a similar pause on tariffs targeting the EU. 

Read the full article here.

–Colin Laidley

Stock Futures Slip to End Volatile Week of Trading

FROM 3 hr 46 min ago

Futures contracts connected to the Dow Jones Industrial Average pointed down 0.3%.

S&P 500 futures also slipped 0.3%.

Nasdaq 100 futures were 0.4% lower.