US Stocks Rally on Corporate Headlines
February 6, 2026 at 21:00 UTC
Key Points
- Centene's disclosed goodwill and pre-tax impairments increased volatility in its shares and pressured managed-care peers across the sector.
- Ubiquiti's record quarterly revenue and strong GAAP EPS prompted traders to re-price its shares and related networking suppliers.
- Marvell's prospectus supplement has created the procedural ability to issue equity or debt and has introduced potential near-term dilution and funding optionality.
- Canada's Ivey PMI printed above consensus and supported regional sentiment while US payrolls remained on the calendar without final actuals.
Global Market Summary
US equities rallied, with the Dow Jones Industrial Average (DJIA) rising 2.43%, the S&P 500 (SPX) up 1.97% and the Nasdaq Composite (^IXIC) advancing 2.21% as markets reacted to corporate headlines and scheduled macro releases. European benchmarks posted modest gains: France's CAC (FRA40) +0.43%, the FTSE (UKX) +0.59% and Germany's DAX (DAX) +0.94%, while Asian markets were mixed with Shanghai (000001.SS) down 0.25% and Hong Kong's Hang Seng (HSI) off 1.21% even as Japan's Nikkei (NKY) rose 0.81%.
Top Movers
Sector leaders: VGT (4.55%) led sector ETFs, followed by XLI (2.83%) and XLB (2.09%); XLC was the lone laggard at -0.46%. Notable stock movers included LBTYB (+67.83%), BILL (+38.06%) and LUMN (+30.21%), while large decliners included MOH (-26.38%), PI (-25.62%) and STLA (-23.64%).
Macro highlights
Canada's Ivey PMI for January printed 50.9 (previous 51.9, consensus 49.7), an above-consensus read that supported regional sentiment. US Non-Farm Payrolls and the Unemployment Rate were on the calendar (consensus 68K and 4.4%, respectively) but the dataset contains no final actuals, leaving markets to focus on corporate earnings and M&A headlines for near-term direction.
News that moved markets
Centene (CNC) reported Q4 2025 results and issued 2026 guidance, disclosing a $6.7 billion goodwill impairment and a $513 million pre-tax impairment while guiding to adjusted diluted EPS greater than $3.00 for 2026; the combination increased volatility in CNC and pressured managed-care peers. Ubiquiti (UI) posted record quarterly revenue of $814.9 million and GAAP diluted EPS of $3.86 and declared a $0.80 cash dividend, prompting traders to re-price UI and related networking suppliers. Marvell (MRVL) filed a prospectus supplement to its Form S-3, creating the procedural ability to issue equity or debt and introducing potential near-term dilution or funding optionality. MondeVita completed the acquisition of CarusoUSA and SPX Technologies completed the acquisition of Crawford United. Announced transactions included NameSilo Technologies' agreement to acquire Reach Systems, Broadridge's planned acquisition of CQG, Marex Group's move to buy Webb Traders and Refresco's announced cash offer for SunOpta at $6.50 per share.
Upcoming session watchlist
- AU Westpac Consumer Confidence Change (FEB) — forecast -2.0% vs -1.7% prior, Feb 09, 11:30 PM | Gauges household sentiment that can affect spending and near-term growth.
- MX Inflation Rate YoY (JAN) — vs 3.69% prior, Feb 09, 12:00 PM | Indicates annual inflation trend and overall price pressures.
- MX Inflation Rate MoM (JAN) — forecast 0.3% vs 0.28% prior, Feb 09, 12:00 PM | Shows monthly price momentum important for near-term inflation dynamics.
Key Takeaways
- US equities rallied broadly, with major indexes advancing as markets reacted to corporate earnings, M&A activity and corporate headlines.
- Technology and industrial sector ETFs outperformed, while communications ETFs lagged, reflecting earnings and supplier re-pricing.
- Individual stocks registered outsized moves; winners included LBTYB, BILL and LUMN while MOH, PI and STLA were notable decliners, amplifying volatility.
- Completed and announced M&A transactions, plus corporate filings and acquisitions, supported deal-related flows and issuance optionality in trading.
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