Thursday’s Insider Activity: GameStop CEO’s $21M Buy Stands Out

Investing.com -- UBS revealed in a note to clients on Friday that it has raised its palladium price forecast by $300 per ounce to $1,800, citing a sharp pickup in investment flows into the metal. 

Analyst Giovanni Staunovo stated that UBS made the upgrade “driven by solid investment demand in recent months,” noting that palladium’s relatively small market size “often results in large price swings.”

UBS said recent price momentum has been led not by traditional industrial uses but by investors positioning for lower U.S. interest rates, a weaker dollar and heightened geopolitical uncertainty. 

Staunovo highlighted that “if investment demand stays strong, prices could move even higher,” though he cautioned that “without investment demand, we see the market being largely balanced,” which is why UBS prefers exposure to gold.

Palladium demand has shifted in recent years as autocatalyst consumption peaked in 2019, when prices surged past platinum and triggered substitution. 

The rise of electric vehicles, which do not use autocatalysts, also weighed on demand. 

However, the bank noted that palladium has rallied alongside platinum and silver since mid-2025, and with palladium now “significantly cheaper than platinum,” UBS expects autocatalyst producers “will likely switch back… in due course.”

Investment activity has been building. UBS pointed to rising ETF holdings since mid-2025 and a jump in speculative futures positioning after being net short for much of last year. 

China may also be supporting demand, with Staunovo noting that new yuan-denominated platinum futures in Guangzhou have “likely supported palladium demand” as part of broader trading activity in the platinum-group metals.

Investing.com -- European media stocks came into 2026 after a bruising year, with the sector emerging as the weakest performer in the Stoxx Europe 600 in 2025.

The damage was driven mainly by valuation derating rather than earnings downgrades, leaving fundamentals broadly intact while pushing the sector to one of its widest relative discounts in a decade, Kepler Cheuvreux analyst Conor O’Shea said in a Friday note. 

O’Shea says perceived vulnerability to generative AI was the dominant driver behind the sell-off. He argues that investors have focused too narrowly on fears of disruption, even though earnings expectations have not been materially cut.

"As a result, the media sector has the second-largest discount between current forward P/E multiples and the ten-year median, exceeded only by the food sector," O’Shea wrote. 

In this regard, O’Shea reshuffled ratings and preference lists across the sector. Notably, Pearson and ProSiebenSat1 were upgraded from Reduce to Hold after share price underperformance brought valuations back in line with target prices.

The analyst also raised target prices for Canal+, Havas, ITV, Publicis, and RTL Group, reflecting what they see as a better balance between risk and reward following last year’s derating.

Moreover, RELX was added to the Most Preferred list. O’Shea argues the stock is “more a beneficiary of GenAI than vulnerable, despite the recent de-rating.” MTG Group also entered the Most Preferred list, described as “cheap and low-risk,” replacing JCDecaux and Springer Nature.

On the downside, Pearson and UMG exited the Least Preferred list, while M6 and Ubisoft were added. M6 "is wholly exposed to a weakening French TV advertising market, has made a huge commitment to buy FIFA World Cup rights, and trades at a premium to peer TF1," O’Shea noted. 

Looking ahead, Kepler expects 2026 phasing to be broadly supportive for the sector, helped by a mini-quadrennial year with ad-rich events such as the FIFA World Cup, U.S. mid-term elections, and the Winter Olympics in Cortina. 

However, O’Shea warns that pricing pressure in linear TV advertising, particularly in France and the U.K., could offset some of that cyclical support, reinforcing their preference for companies with visible market share gains and more resilient business models, such as Publicis. 

Investing.com - Futures linked to Canada’s main stock index around the flatline on Friday, as a rise in gold prices maintained support for the commodity-heavy average.

By 07:29 ET (12:29 GMT), the S&P/TSX 60 index standard futures contract had ticked up by 1 point, or 0.1%.

The S&P/TSX composite index gained 0.5% to 33,002.70 on Thursday, within touching distance of an all-time peak recorded earlier this month.

Sentiment during the session was aided by solid U.S. economic data as well as a fading in tariff threats between the U.S. and Europe.

Fueled by geopolitical and trade tensions, along with expectations for Federal Reserve interest rate reductions next week, gold also spiked above the $4,900 an ounce level for the first time. Materials, which include metal mining stocks, subsequently climbed by 2.2%.

U.S. futures drop

U.S. stock index futures slipped lower Friday, ending a volatile week on a negative note after disappointing earnings from tech giant Intel.

At 07:41 ET, Dow Jones Futures dropped 117 points, or 0.2%, S&P 500 Futures fell 10 points, or 0.1%, and Nasdaq 100 Futures declined 59 points, or 0.2%.

The main averages on Wall Street climbed in the prior session, buoyed by a reversal in President Donald Trump’s threat to slap additional tariffs on a host of European countries in an attempt to gain control of Greenland, an autonomous Danish territory.

Gains on Wednesday and Thursday erased the Dow Jones Industrial Average’s losses from earlier in the week, but the S&P 500 and NASDAQ Composite are on track for their second negative week in a row.

Greenland deal brings relief

Sentiment received a boost in the second half of the week after U.S. President Donald Trump said his administration had reached a framework trade deal over Greenland, and that he will not tariff European powers in an attempt to coerce control over the Danish territory.

Trump also withdrew his threat to use force to take the island, a sharp reversal from his rhetoric last week. The move offered much relief to markets, after Trump’s earlier tariff threats ramped up global geopolitical tensions and sparked deep losses in Wall Street.

That said, the relationship between many European countries and the Trump administration remains fraught, and the U.S. president added to geopolitical tensions by flagged potential military action against Iran, stating the U.S. had a fleet moving towards the Middle East country as he spoke to reporters aboard Air Force One late Thursday, warning Tehran against killing protestors or restarting its nuclear efforts.

“We have an armada... heading in that direction, and maybe we won’t have to use it,” Trump told reporters. “I’d rather not see anything happen, but we’re watching them very closely,” Trump said.

Intel slumps on disappointing outlook

Turning back to the corporate sector, Intel (NASDAQ:INTC) stock slumped in premarket trade after the chipmaker reported a fourth-quarter loss and unveiled a dour outlook for the current quarter.

The company, who has recently been buoyed by fresh backing from major investors including artificial intelligence-darling Nvidia and even the U.S. government, posted a net loss of $333 million for the final three months of its fiscal year, worse than Wall Street analysts had anticipated.

Executives flagged the impact of soaring demand from data centers, which house the chips that power cutting-edge AI models. CFO David Zinsner described supply shortages as an industry-wide problem that could extend well into 2026.

There are more major earnings from the tech sector to digest next week, with Apple, Microsoft, Amazon and Tesla all set to report.

Fed to meet next week

The economic data slate includes S&P PMI data for January later Friday, as well as the Michigan consumer sentiment index, but these releases are unlikely to change sentiment ahead of next week’s Federal Reserve meeting.

The central bank is widely expected to leave interest rates unchanged, amid growing uncertainty over the U.S. economy.

Trump confirmed Thursday that he has concluded his search for the next Federal Reserve chair after interviewing a final shortlist of candidates.

The current shortlist of potential nominees features a mix of institutional insiders and private sector veterans. Included in the final deliberations are National Economic Council Director Kevin Hassett, BlackRock executive Rick Rieder, current Fed Governor Christopher Waller, and former governor Kevin Warsh.

Gold hits new record high

Gold prices hit a record high earlier Friday, coming in sight of the closely watched $5,000 an ounce level after Trump said the U.S. had deployed ships towards Iran, pushing up demand for safe havens. Oil prices also rose Friday, heading for a fifth straight week of gains.

Spot gold rose as much as 0.7% to a record high of $4,967.48 an ounce, while gold futures for February rose over 1% to $4,969.69/oz.

Oil climbs

Brent futures gained 1.3% to $64.86 a barrel and U.S. West Texas Intermediate crude futures rose 1.4% to $60.17 a barrel.

Both benchmarks are on track for weekly gains of just under 1%.

Reports have indicated that a U.S. aircraft carrier and several destroyers were set to arrive in the Middle East over the coming days, raising concerns around renewed military action in the region.

Iran is one of the largest oil producers in the Organization of the Petroleum Exporting Countries, and is also a major supplier to top oil importer China.

Investing.com -- Swiss brokerage UBS has maintained a “neutral” view on UK equities, stating that future gains must come from earnings growth rather than valuation expansion after the FTSE 100’s sharp rerating in 2025.

The FTSE 100 delivered a 22% price return in 2025 despite slow growth, sticky inflation and tight monetary policy, but nearly all gains came from just 25 companies, making returns unusually narrow and driven by company-specific factors, UBS Chief Investment Office said in a recent note.

The index now trades at 13.3x forward price-to-earnings ratio, a 9% premium to its 20-year average, leaving limited room for further multiple expansion with bond yields still elevated, according to Matthew Gilman, CIO Equity Strategist at UBS.

UBS set a base case target of 10,500 for the FTSE 100 by December 2026, up from 10,150 on January 21, with forecasts for 5% earnings growth in 2026 and 15% in 2027 as global economic conditions improve.

Banking stocks rerated sharply as earnings held up, pharmaceutical companies recovered following clarity on U.S. healthcare policy, defense-related stocks performed strongly as Europe’s defense needs came into focus, and mining companies posted outsized gains on price increases for gold, silver and copper, the Swiss bank said.

UBS does not expect a repeat of these large gains in 2026, noting that equity returns will likely lag earnings growth going forward.

The UK market faces structural headwinds from relatively weak longer-term growth prospects given low exposure to major global trends including artificial intelligence and power resources, the brokerage said. 

The FTSE 100’s defensive sector mix, comprising roughly one-third of the index by market capitalization, means UK equities are likely to underperform more economically sensitive European markets.

Within the broader region, UBS favors the Eurozone and Germany alongside sectors including banks, industrials, information technology, utilities and real estate as beneficiaries of cyclical upswing, structural trends and lower interest rates.

With 75%-80% of FTSE 100 revenues generated outside Britain, currency movements remain significant. Recent sterling strength has weighed on local currency returns, the brokerage noted.

UBS outlined an upside scenario targeting 11,300 by December 2026 if global growth accelerates, commodity prices rise, sterling weakens, U.S. investors diversify into UK assets, or policy responses including faster rate cuts or large fiscal measures materialize.

The downside scenario envisions 7,200 if a global economic downturn emerges, U.S.-Europe trade tensions re-emerge, inflation keeps central bank rates elevated, commodity prices fall - hurting earnings as commodities contribute around 25% of FTSE 100 profits - or sterling strengthens further.

Despite UK equities falling around 15% over the past three years, UBS sees an improving outlook for profits supported by reasonable valuations and favorable global policy conditions.

Investing.com -- Bausch Health (NYSE:BHC) stock plunged 8% Friday morning after the company announced disappointing results from its Phase 3 clinical trials for a potential hepatic encephalopathy treatment.

The pharmaceutical company reported that its global RED-C clinical program, which evaluated amorphous-rifaximin solid soluble dispersion (SSD) in adults with liver cirrhosis, failed to meet its primary endpoint despite being safe and well-tolerated. The trials were designed to test the drug’s effectiveness in preventing first episodes of hepatic encephalopathy in cirrhosis patients.

"We are disappointed in the results, as there is currently no approved treatment for these patients. We are currently reviewing the full dataset to determine potential new development opportunities," said Thomas J. Appio, Chief Executive Officer of Bausch Health.

The RED-C program consisted of two global, randomized, double-blind, placebo-controlled Phase 3 trials involving more than 1,000 patients across 398 sites in 17 countries. The trials specifically targeted adults with liver cirrhosis who had no prior hepatic encephalopathy episodes.

Cirrhosis ranks as the ninth leading cause of death in the United States, according to data from the Centers for Disease Control and Prevention cited by the company. Hepatic encephalopathy is a serious complication of cirrhosis that affects brain function.

Despite this setback, Bausch Health stated it remains committed to developing new treatments across hepatology and other therapeutic areas.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- U.S. stock futures slipped lower Friday after President Donald Trump flagged potential military action against Iran, while Intel’s earnings disappointed.

Here are some of the biggest premarket U.S. stock movers today:

• Intel (NASDAQ:INTC) stock slumped 13% after the chipmaker reported a fourth-quarter net loss of $333 million and unveiled a dour outlook for the current quarter, flagging supply shortages that could extend well into 2026.

• Nvidia (NASDAQ:NVDA) stock rose 1.4% after Bloomberg reported that Chinese authorities have told major technology companies they can prepare orders for the tech giant’s H200 AI chips, suggesting Beijing may be close to formally approving imports of these critical AI components.

• Intuitive Surgical (NASDAQ:ISRG) stock rose 1.6% after the medical device maker beat Wall Street ‍estimates for fourth-quarter profit and revenue on growing demand for its ⁠surgical robots used in minimally invasive procedures.

• Clorox (NYSE:CLX) stock fell 0.2% after the maker of household cleaning products announced that it has entered an agreement to acquire Gojo Industries, the manufacturer of Purell, valued at $2.25 billion.

• Capital One (NYSE:COF) stock fell 2.4% after the bank’s fourth quarter adjusted earnings came in short against expectations, and it agreed to acquire startup Brex for $5.15 billion.

• FedEx (NYSE:FDX) stock fell 0.5% after the parcel delivery giant announced plans to cut up to 500 jobs in France as part of a major overhaul to its domestic operations in the country.  

• Slb (NYSE:SLB) stock rose 0.3% after the energy technology group posted fourth-quarter earnings above expectations, driven by robust North American activity and international demand. It also announced a dividend increase and pledged to return over $4 billion to shareholders in 2026. 

• Booz Allen Hamilton (NYSE:BAH) stock rose 5.6% after the advanced technology company reported third-quarter fiscal 2026 results that beat expectations despite revenue declines, with investors focusing on the company’s strong profitability metrics.

• Silver miners Hecla Mining (NYSE:HL) and Coeur Mining (NYSE:CDE) rose as silver prices touched record highs and neared $100-per-ounce mark for the first time.

• Delta Air Lines (NYSE:DAL), JetBlue Airways (NASDAQ:JBLU) and Southwest Airlines (NYSE:LUV) all fell after a winter storm swept across the U.S. with heavy snow and sleet in the forecast, causing the cancellation of hundreds of scheduled flights.