Kim Kahn

citing headwinds from the 9X engine, equipment growth outpacing services, and the potential for further spare engine normalization.

Procter & Gamble is higher after CFO Andre Schulten said on the earnings call that the company has just completed what it fully expects will be the softest quarter of its fiscal year.

BN Paribas analyst Kevin Grundy noted that while P&G's top-line results were muted and sentiment is increasingly tied to improving volume trends, he sees a high likelihood the company can achieve its EPS guidance.

And Abbott Labs is the S&P's biggest decliner after reporting lower-than-expected Q4 2025 revenue, hurt by underperformance in its nutrition segment.

Abbott's projected organic sales growth for 2026 and its outlook for Q1-adjusted EPS also came in below expectations.

In other news of note, European competition watchdogs are set to examine the bids from Netflix and Paramount Skydance for Warner Bros.

Discovery at the same time.

Bloomberg reports that parallel reviews are now inevitable, given the timing of rival proposals and the fact that both sides have already sounded out EU regulators.

Sources say a double probe would give Brussels unusual leverage over Warner's fate, since it could quickly clear a deal for one bidder while launching a more in-depth investigation into the other.

But whichever company ends up with Warner or its assets, there are already a couple of clear winners.

Cheers are echoing on the deal floors of J.P.

Morgan and Allen & Company, which stand to earn about $90 million each for advising Warner, no matter who wins the bidding war.

And in the Wall Street Research Corner, Bank of America has updated its US One list, its lineup of best ideas among buy-rated, US-listed stocks.

Merck is the newest addition, while Apple keeps its spot after passing the mandatory 52-week review.

Other names on the list include Spotify, Walmart, Wells Fargo, NVIDIA, and Progressive.

Check out the full list in our story on Seeking Alpha, and be sure to register for our Investing Experts Live event on January 27th, where you'll get the top ideas for 2026 from leading analysts.

Both links will be in show notes.

Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon.

Today is Wednesday, January 21st, and I'm your host, Kim Kahn.