Pizza Giant Faces Meltdown

A pizza chain is slipping after weaker-than-expected U.S. sales, a roofing firm is reporting strong earnings as strategic acquisitions drive future growth, and a biopharma stock is climbing after announcing a key partnership with Pfizer. Here’s what you need to know.

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What to Watch

Earnings:

• ONEOK, Inc. [OKE]: Aftermarket

• Public Storage REIT [PSA]: Aftermarket

• Realty Income Corporation [O]: Aftermarket

• Diamondback Energy, Inc. [FANG]: Aftermarket

• Zoom Communications, Inc. [ZM]: Aftermarket

• SBA Communications Corporation  [SBAC]: Aftermarket

• Coterra Energy Inc. [CTRA]: Aftermarket

Economic Reports:

• None scheduled

Food and Beverages

Domino’s Dipping On Weak Q4 Results and Poor U.S. Sales Growth

Domino’s Pizza [NYSE: DPZ] reported fourth-quarter earnings that are below analysts' expectations today, causing its stock to drop 4% in premarket trade.

The pizza chain's revenue increased by 2.9% year over year to $1.44 billion, but it missed the Wall Street forecast of $1.48 billion. Adjusted earnings per share are $4.89, slightly below the expected $4.93.

Same-store sales in the U.S. are up 0.4%, falling short of the 1.72% increase analysts had projected. However, international same-store sales are better than expected, climbing 2.7% compared to the estimated 1.63%.

For the full year, its revenue is $4.71 billion, missing the projected mark of $4.74 billion, while adjusted EPS of $16.69 is just shy of the forecasted $16.70.

Despite the underwhelming results, CEO Russell Weiner expressed confidence in the company's growth strategy, highlighting the success of its "Hungry for MORE" value platform.

The company opened 364 new stores in the fourth quarter and 775 in total for 2024.

Domino’s stock, which has gained more than 12% year-to-date, is now under close watch as investors look for potential catalysts in 2025.

Of particular interest is the impact of the company's partnership with Uber [NYSE: UBER] for third-party deliveries, as well as potential expansion to DoorDash after its exclusive deal with Uber ends.

Other initiatives, such as a revamped loyalty program and the possible launch of stuffed crust pizza, are expected to drive future sales growth.

Roofing Solutions

Owens Corning Reports Strong 2024 Growth, Eyes Further Expansion in 2025

Owens Corning [NYSE: OC] reported strong financial results for 2024, with net sales reaching $11 billion, marking a 13% increase from the prior year.

The company’s growth is partly driven by the newly acquired doors business, which contributed $1.4 billion in revenue.

Despite strong sales, net earnings are down 46% to $647 million, primarily due to strategic restructuring efforts.

The company’s adjusted EBIT is up 13%, reaching $2.0 billion, while adjusted EBITDA rose 17% to $2.7 billion. Diluted earnings per share stand at $7.37, with adjusted EPS at $15.91.

Free cash flow totaled $1.2 billion, with 51% of it—approximately $638 million—returned to shareholders through dividends and share repurchases.

CEO Brian Chambers highlighted 2024 as a “transformative year,” citing strategic initiatives such as the acquisition of Masonite International, a review of its global glass reinforcements business, and the divestment of building materials operations in China and Korea.

The company also announced plans to expand its laminate shingle production capacity in the southeastern U.S. by 2027.

Looking ahead, Owens Corning expects mid-20% revenue growth in Q1 2025, with an EBITDA margin in the low 20% range.

The company remains committed to disciplined capital allocation and continued investments to strengthen its market position in North America and Europe.

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Biopharmaceuticals

Summit Therapeutics Stock Up 5% On Q4 Earnings Beat

Shares of Summit Therapeutics [NASDAQ: SMMT] are soaring more than 5% in pre-market trading after the announcement of a smaller-than-expected loss for the fourth quarter of 2024.

The biopharmaceutical firm posted a non-GAAP net loss of $0.07 per share, outperforming analysts' expectations of a $0.08 per share loss.

While revenue figures aren’t shared, the company noted a significant rise in operating expenses, which reached $65.8 million in Q4—an increase from $36.4 million in the same period last year.

The higher spending reflects increased clinical development efforts for its lead drug candidate, ivonescimab, a potential treatment for non-small cell lung cancer.

Summit's financial position strengthened considerably, with cash and short-term investments rising to $412.3 million by the end of 2024, up from $186.2 million a year earlier.

The increase is attributable to successful financing activities throughout the year.

In a significant development, Summit also announced a clinical trial collaboration with Pfizer [NYSE: PFE] to test ivonescimab in combination with Pfizer’s antibody-drug conjugates for solid tumors.

The new studies are set to begin in mid-2025, further expanding the drug’s potential applications.

With multiple Phase III trials underway and a strategic partnership with Pfizer, Summit Therapeutics remains a key player in oncology drug development.

AtlasClear Holdings, Inc. [ATCH] - Last Close: $2.35

AtlasClear Holdings, Inc., is a financial services firm specializing in trading, clearing, settlement, and banking solutions.

Its shares are up more than 100% in premarket trade because its Q4 SEC 10-Q report showed a significant turnaround in profitability for the six-month period.

Despite a net loss of $419,690 for Q4, it has a substantial six-month net income of $10.33 million, compared to just $117,022 in the same period last year.

IO Biotech, Inc. [IOBT] - Last Close: $1.10

IO Biotech is a clinical-stage biopharmaceutical company developing immune-modulatory therapeutic cancer vaccines using its T-win® platform to reshape the tumor microenvironment.

Its shares are surging before the opening bell after it presented promising preclinical data for its TGF-β-targeted peptide vaccine (IO170) at the AACR-IO Conference.

PepGen Inc. [PEPG] - Last Close: $1.37

PepGen Inc. is another clinical-stage biotech company developing next-generation oligonucleotide therapies for neuromuscular and neurological diseases.

Its shares are surging in premarket after it reported positive initial data from its FREEDOM-DM1 trial in Myotonic Dystrophy Type 1 (DM1).

Technology (Sponsored)

Elon’s New Tech Could Be Bigger Than Tesla & SpaceX… Combined

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Everything Else

• AI adoption at DBS leads to job reductions, while permanent staff remain unaffected.

• Microsoft cancels U.S. data center leases while shifting its AI investment strategy.

• Tim Cook says Apple is "bullish on the future" as the company boosts U.S. production.

• Amsterdam-based Bird relocates key operations, blaming restrictive EU tech policies.

• BP abandons ambitious renewable goals as fossil fuel profits take priority.

• Far-right and far-left parties gain momentum in Germany’s election shake-up.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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