PRISM Market Moves on Wednesday: US Equities Higher; Topgolf, Triumph Group Up; Signet Jewelers, Planet Fitness Stumble

US equities are trading mostly higher in Wednesday afternoon trading after a higher finish on Tuesday. Outperformers include food, apparel manufacturers, beauty, credit cards, and airlines, while jewelry and accessories, fitness, regional banks, tobacco, biotech, life sciences, and energy are weaker. Treasuries are little changed after snapping a six-session losing streak on Tuesday, the Dollar index is up +0.6%, Gold is flat, Bitcoin futures are down (0.2%) and WTI crude is off (1.7%).

Notable outperformers are Topgolf Callaway Brands ($MODG) which is up +12.0% after reports that an unidentified investor is seeking to acquire the company. Media reports add that major shareholders plan to spin off the Topgolf business and sell the Callaway Golf brand. Triumph Group ($TGI) has gained +7.4% after being reinstated as a buy at Goldman Sachs, and Riot Platforms ($RIOT) has risen +6.8% after being upgraded to outperform from neutral. Chipotle Mexican Grill ($CMG) has gained +6.2% after the company’s Board approved a 50-for-1 stock split.

The day’s decliners include Signet Jewelers ($SIG) which is down (11.6%) on weak Q4 EPS, Equinix ($EQIX) has lost (4.6%) after Hindenburg Research released a negative report on the company, claiming accounting manipulation and business decay. Super Micro Computer ($SMCI) has fallen (3.4%), and Planet Fitness ($PLNT) is down (1.0%) on continued weakness amid social media calls for a boycott regarding the company’s locker-room policies.

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PRISM Market Moves on Wednesday: US Equities Higher; Topgolf, Triumph Group Up; Signet Jewelers, Planet Fitness Stumble

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