My top 10 things to watch Friday, Feb. 9 1. Stock futures were slightly higher this morning after the S & P 500 briefly crossed 5,000 for the first time in intraday trading Thursday. The broad U.S. stock index is up nearly 5% this year, after gaining more than 24% in 2023. Meanwhile, bitcoin crossed the $47,000 level for the first time since March 2022. 2. PepsiCo reported a rare revenue miss: $27.85 billion for the fourth quarter vs. $28.4 billion expected by analysts. But there’s still a lot to like, including an earnings beat and a dividend boost of 7% to $5.24 per share, the company’s 52nd consecutive annual increase. Importantly, the results were not impacted by the rise of GLP-1 drugs for type 2 diabetes and weight loss. 3. Affirm posted a remarkable quarter that someone wanted to paint as negative. Shares are down 7% despite the buy-now-pay-later business reporting beats on the top and bottom lines. CEO Max Levchin delivers again. 4. Shares of Pinterest dropped more than 8% after the image-sharing company beat on earnings in its fourth-quarter report but issued a softer forecast . Some want to portray PINS as another Snap , but that’s ridiculous. The company is in the early stages of monetizing internationally and has good deals with Google and Amazon . 5. Cloud services provider Cloudflare soared 27% after its fourth-quarter earnings beat and upbeat full-year outlook. Is this an indispensable company? I have CEO Matthew Prince on Mad Money tonight. 6. Expedia makes a few comments about softness at the top of its post-earnings conference call and the travel platform operator’s stock gets crushed — down 15%. Should it be? Bank of America downgraded the company to hold from buy, cited light bookings and muted outlook — “uncertainty.” 7. Take-Two is not an earnings call, so don’t sell on the stock drop following the video game maker’s fiscal Q3 results on Thursday. It is a Grand Theft Auto call. 8. Illumina looks better: The maker of life-science tools…
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