US Stocks Climb as Gold and Silver Slip | Closing Bell
Watch on YouTube ↗  |  February 17, 2026 at 21:38 UTC  |  9:40  |  Bloomberg Markets
Speakers
Romaine Bostick — Anchor, Bloomberg
Katie Greifeld — Anchor, Bloomberg
Carol Massar — Anchor, Bloomberg
Tim Stenovec — Anchor, Bloomberg

Summary

  • Market Indecision: The S&P 500 and Nasdaq are effectively flat ("1/10th of a percent kind of day"), awaiting direction from upcoming Fed minutes, inflation prints, and major retail earnings (Walmart).
  • Activist Resurgence: A significant theme of the day is activist investors targeting underperforming assets, with Elliott Management targeting Norwegian Cruise Line and Starboard Value targeting TripAdvisor, driving double-digit percentage moves.
  • Consumer Cracks: Traditional consumer and retail names are showing weakness. General Mills lowered guidance citing a "challenging consumer environment," and Genuine Parts Company (Napa Auto Parts) missed earnings, highlighting affordability issues and structural shifts in auto maintenance.
  • M&A Activity: Deal flow is active with Danaher acquiring Masimo at a 40% premium, signaling consolidation in medical technology.
Trade Ideas
Ticker Direction Speaker Thesis Time
NCLH /TRIP
LONG Romaine Bostick
Anchor, Bloomberg 		Activist investor Elliott Investment Management has built a >10% stake in Norwegian Cruise Line (NCLH), claiming 150% upside. Similarly, Starboard Value is targeting TripAdvisor (TRIP) due to prolonged underperformance. Activist involvement typically forces management to cut costs, spin off assets, or sell the company, creating a hard floor for the stock price and a catalyst for repricing. The specific mention of "150% upside" for NCLH sets a high anchor for investor expectations. LONG. Follow the "smart money" activists who are stepping in to unlock value in beaten-down travel/leisure names. Management successfully fights off the activists; consumer travel spending slows down significantly. —
GPC
SHORT Romaine Bostick
Anchor, Bloomberg 		Genuine Parts Company (Napa Auto Parts) fell 14.5% after missing earnings. Management cited "affordability challenges." Additionally, the anchors discussed a secular shift: "Nobody changes their oil anymore" due to environmental issues and vehicle complexity. This is a dual-threat bear case: cyclical weakness (consumers can't afford parts) and structural obsolescence (DIY auto maintenance is dying as cars become computers). The announced corporate split looks like financial engineering to mask deteriorating fundamentals. SHORT. The "DIY" auto repair thesis is breaking down. The corporate split successfully unlocks value for the industrial segment; economic recovery boosts auto repair spending. —
GIS
AVOID Romaine Bostick
Anchor, Bloomberg 		General Mills lowered its fiscal 2026 outlook, citing "weak consumer sentiment" and "significant volatility" affecting purchase patterns. Stock down 7%. When a defensive consumer staple giant like General Mills warns about the consumer, it indicates that inflation fatigue has hit the grocery aisle. Pricing power—the ability to raise prices without losing volume—is likely exhausted. AVOID. Defensive stocks are failing to defend; lack of growth catalysts. Inflation data cools significantly, restoring consumer purchasing power. —
MASI
NEUTRAL Romaine Bostick
Anchor, Bloomberg 		Danaher (DHR) agreed to buy Masimo (MASI) for $80/share, a 40% premium. The move has already happened (stock up 34%). This is now a merger arbitrage situation. The massive premium validates the valuation of medical tech assets but leaves little upside for new entrants unless a bidding war emerges. NEUTRAL. The easy money has been made on the announcement. Regulatory hurdles block the deal (downside risk). —
CDNS
WATCH Romaine Bostick
Anchor, Bloomberg 		Cadence Design Systems reported a beat on EPS and Revenue, with guidance aligning with or slightly beating street estimates. As a "pick and shovel" play for the semiconductor industry (design software), Cadence's results suggest continued demand for chip design, likely driven by the AI hardware boom, despite broader market chop. WATCH. A stable performer in a volatile tech environment; look for entry on dips. Slowdown in semiconductor R&D spending. —