FHN

Outperforming without a clear catalyst yet

• FHN +1.72% on the last session vs SPY +0.02%: +1.7 pts of stock-specific move.
• Earnings today before the open: EPS $0.53 expected (9 analysts).
• Market backdrop (Today): Core PPI m/m 1.3% vs 0.3% expected (hotter); Core Retail Sales m/m 0.9% vs 0.6% expected (stronger); S&P futures -0.08%, 10-year yield -3bp in the 30 minutes after.
• Activity: volume on pace for 3.1× its 20-day average.