Today investors will go through the producer price index (PPI) and the Empire State manufacturing index. 

The following public companies are slated to release corporate earnings today, February 15:

Allegion plc (NYSE:ALLE -- $118.33) manufactures and sells mechanical and electronic security products and solutions worldwide. Allegion will report its Q4 earnings of 2021 before the open today.

Black Knight Inc. (NYSE:BKI -- $65.53) provides integrated software, data, and analytics solutions in North America and Internationally. Black Knight will report its Q4 earnings of 2021 before the open today.

BorgWarner Inc. (NYSE:BWA -- $42.76) provides solutions for combustion, hybrid, and electric vehicles worldwide. BorgWarner will report its Q4 earnings of 2021 before the open today.

Ceva Inc. (NASDAQ:CEVA -- $37.02) operates as a licensor of wireless connectivity and smart sensing platforms to semiconductor and original equipment manufacturer (OEM) companies worldwide. Ceva will report its Q4 earnings of 2021 before the open today.

Ecolab Inc. (NYSE:ECL -- $182.91) provides water, hygiene, and infection prevention solutions and services worldwide. Ecolab will report its Q4 earnings of 2021 before the open today.

Franklin Electric Co. Inc. (NASDAQ:FELE -- $84.64) designs, manufactures, and distributes water and fuel pumping systems worldwide. Franklin Electric will report its Q4 earnings of 2021 before the open today.

Huntsman Corp. (NYSE:HUN -- $36.67) manufactures and sells differentiated organic chemical products worldwide. Huntsman will report its Q4 earnings of 2021 before the open today.

IPG Photonics Corp. (NASDAQ:IPGP -- $146.68) develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. IPG Photonics will report its Q4 earnings of 2021 before the open today.

Kornit Digital Ltd. (NASDAQ:KRNT -- $98.31) develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry worldwide. Kornit Digital will report its Q4 earnings of 2021 before the open today.

LGI Homes Inc. (NASDAQ:LGIH -- $121.45) designs, constructs, and sells homes in the United States. LGI Homes will report its Q4 earnings of 2021 before the open today.

Marriott International Inc. (NASDAQ:MAR -- $171.33) operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. Marriott will report its Q4 earnings of 2021 before the open today.

Restaurant Brands International Inc. (NYSE:QSR -- $57.16) owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brands. Restaurant Brands will report its Q4 earnings of 2021 before the open today.

Sabre Corp. (NASDAQ:SABR -- $9.00) provides software and technology solutions for the travel industry worldwide. Sabre will report its Q4 earnings of 2021 before the open today.

Triton International Ltd. (NYSE:TRTN -- $62.32) engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal containers and chassis to shipping lines, and freight forwarding companies and manufacturers. Triton International will report its Q4 earnings of 2021 before the open today.

Wesco International Inc. (NYSE:WCC -- $123.47) provides business-to-business distribution, logistics, and supply chain solutions in the United States, Canada, and internationally. Wesco will report its Q4 earnings of 2021 before the open today.

Zoetis Inc. (NYSE:ZTS -- $196.43) discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. Wesco will report its Q4 earnings of 2021 before the open today.

Airbnb Inc. (NASDAQ:ABNB -- $169.66) operates a platform for stays and experiences to guests worldwide. Airbnb will report its Q4 earnings of 2021 after the close today.

Alteryx Inc. (NYSE:AYX -- $51.50) provides end-to-end analytics platform for data analysts and scientists worldwide. Alteryx will report its Q4 earnings of 2021 after the close today.

CF Industries Holdings Inc. (NYSE:CF -- $71.46) manufactures and sells hydrogen and nitrogen products for clean energy, fertilizer, emissions abatement, and other industrial applications worldwide. CF Industries will report its Q4 earnings of 2021 after the close today.

Comstock Resources Inc. (NYSE:CRK -- $7.44) engages in the acquisition, exploration for, development, and production of oil and natural gas primarily in Texas, Louisiana, and North Dakota. Comstock will report its Q4 earnings of 2021 after the close today.

Denny's Corp. (NASDAQ:DENN -- $16.46) owns and operates full-service restaurant chains under the Denny's brand. Denny's will report its Q4 earnings of 2021 after the close today.

Encore Wire Corp. (NASDAQ:WIRE -- $114.01) manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Encore Wire will report its Q4 earnings of 2021 after the close today.

GXO Logistics Inc. (NASDAQ:GXO -- $82.26) provides supply chain management solutions for multinational companies and blue-chip market leaders worldwide. GXO Logistics will report its Q4 earnings of 2021 after the close today.

Innospec Inc. (NASDAQ:IOSP -- $91.92) develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. Innospec will report its Q4 earnings of 2021 after the close today.

La-Z-Boy Inc. (NYSE:LZB -- $35.48) manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. La-Z-Boy will report its Q4 earnings of 2021 after the close today.

Masimo Corp. (NASDAQ:MASI -- $224.59) develops, manufactures, and markets noninvasive monitoring technologies and hospital automation solutions worldwide. Masimo will report its Q4 earnings of 2021 after the close today.

NMI Holdings Inc. (NASDAQ:NMIH -- $25.30) provides private mortgage guaranty insurance services in the United States. NMI Holdings will report its Q4 earnings of 2021 after the close today.

Pacific Biosciences of California Inc. (NASDAQ:PACB -- $10.98) designs, develops, and manufactures sequencing systems to resolve genetically complex problems. Pacific Biosciences will report its Q4 earnings of 2021 after the close today.

Q2 Holdings Inc. (NYSE:QTWO -- $63.18) provides cloud-based digital banking solutions to regional and community financial institutions (RCFIs) in the United States. Q2 Holdings will report its Q4 earnings of 2021 after the close today.

Roblox Corp. (NYSE:RBLX -- $68.32) develops and operates an online entertainment platform. Roblox will report its Q4 earnings of 2021 after the close today.

SolarEdge Technologies Inc. (NASDAQ:SEDG -- $249.22) designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. SolarEdge Technologies will report its Q4 earnings of 2021 after the close today.

Toast Inc. (NYSE:TOST -- $27.44) operates a cloud-based technology platform for the restaurant industry in the United States and Ireland. Toast will report its Q4 earnings of 2021 after the close today.

Upstart Holdings Inc. (NASDAQ:UPST -- $104.60) operates a cloud- based artificial intelligence (AI) lending platform. Upstart will report its Q4 earnings of 2021 after the close today.

ViacomCBS Inc. (NASDAQ:VIAC -- $35.03) operates as a media and entertainment company worldwide. ViacomCBS will report its Q4 earnings of 2021 after the close today.

Welltower Inc. (NYSE:WELL -- $79.67) operates as an S&P 500 company headquartered in Toledo, Ohio, specializing in health care infrastructure. Welltower will report its Q4 earnings of 2021 after the close today.

ZoomInfo Technologies Inc. (NASDAQ:ZI -- $55.35) provides go-to-market intelligence and engagement platform for sales and marketing teams in the United States and internationally. ZoomInfo will report its Q4 earnings of 2021 after the close today.

Looking ahead to tomorrow, data on retail sales and the import price index is slated to go out before the open. Industrial production numbers, business inventories data, and the National Association of Homebuilders (NAHB) index are all also due out on Wednesday. Plus, the Federal Open Market Committee (FOMC) meeting minutes will be released.

All economic dates listed here are tentative and subject to change.

In addition, Paypal stock just made it to Schaeffer's Senior Quantitative Analyst Rocky White's list of names that have attracted the most weekly options volume in the last two weeks. Digging deeper, 2,404,574 calls and 1,314,345 puts have been exchanged. The most popular contract during that two-week period was the weekly 2/11 130-strike call, followed by the 2/11 125-strike call. 

Analysts remain optimistic towards Paypal stock, with 22 of the 28 in question carrying a "buy" or better rating. What's more, the 12-month consensus target price of $187.25 is a 64.5% premium to current levels.

E-tail name Shopify Inc (NYSE:SHOP) is set to step into the earnings confessional before the open on Wednesday, Feb. 16, where it will report its fourth-quarter results. At least one analyst already slashed its price target ahead of the event, and it was a pretty substantial cut. Specifically, CIBC cut its price objective by more than 45%, moving down to $950 from $1,750. At last check, SHOP is down 0.7% to trade at $848 this afternoon. 

Shopify stock has been thwarted by the 20-day moving average on multiple occasions recently, and the trendline still remains well just overhead. Further, after nabbing an all-time high of $1,762.91 on Nov. 19, SHOP shed 48.3% in the next three months and is now flashing a 41.2% year-over-year deficit.

Circling back to analyst sentiment, it looks like the brokerage bunch is split on Shopify stock. Of the 28 covering the equity, 15 call it a "strong buy," one says "buy," 11 rate it a  "hold," and another considers the online retail name to be a "sell." Meanwhile, the 12-month consensus price target of $1,467.66 is a staggering 70.7% premium to its current level of trading, which could mean more firms will follow CIBC's lead in the near future.

Meanwhile, options traders have been overwhelmingly bullish. Specifically, short-term options traders have been call-biased, per Shopify stock's Schaeffer's put/call open interest ratio (SOIR) that sits in just the 3rd percentile of its 12-month range. 

It's also worth noting the security's Schaeffer's Volatility Scorecard (SVS) sits at 87 out of a possible 100. This implies that SHOP has exceeded options traders' volatility expectations over the past year.

Digging deeper, it looks like these traders are pricing in a 16.7% post-earnings swing for the stock this time around, which is much larger than the 6.2% move Shopify stock has averaged during its past eight next-day sessions, regardless of direction. Looking back, the equity does have a history of mostly positive returns the day after its quarterly reports over the past two years, with returns of 11.4% and 7% in April and October, respectively. 

iRobot Corporation (NASDAQ: IRBT) is up 3.3% at $66.62 today as the stock attempts to close last Thursday's post-earnings bear gap. Though this selloff stopped just short of IRBT's Jan. 28 two-year low of $58.44, it still sits at a 49.9% year-over-year deficit. Today's pop has put the stock back above its year-to-date breakeven, but now it will have to contend with the 80-day moving average, which rejected last week's rally. 

Last Friday, Citigroup reiterated its "hold" rating and its $80 price target. This puts the 12-month consensus price target at $77.67 -- a 16.5% premium to current levels. Meanwhile, all six of the analysts in coverage call the equity a "hold" or worse.

The stock is heavily shorted, too. Short interest has only climbed 0.3% in the last two reporting periods, but the 6.47 million shares sold short make up almost a quarter of the stock's available float, and would take nearly three weeks to cover, at IRBT's average daily pace of trading. 

From a fundamental point of view, iRobot stock has a very intriguing long-term outlook. The company is well positioned to sustain its growth with $234.5 million in cash and $43.46 million in total debt on its balance sheet. iRobot stock also has a decent valuation at a price-sales ratio of 1.12.

In addition, IRBT is estimated to grow revenues 15.1% and to grow earnings 150.3% in the current fiscal year, with an average expected earning per share (EPS) of $4.28. 

Overall, the robotic tech company's biggest downfall is its inconsistent bottom-line growth. Nonetheless, iRobot has produced steady annual revenue growth in recent years, increasing 43% since fiscal 2018.

Considering all this, now might be an opportune time to get in on iRobot stock's next move with options. The equity's Schaeffer's Volatility Index (SVI) of 55% stands higher than just 17% of readings from the past year. In other words, options traders are pricing in relatively low volatility expectations at the moment. 

The shares of Splunk Inc (SPLK) are up 7.6% to trade at $123.15, after news came over the weekend that Cisco (CSCO) recently made an offer to buy the company for over $20 billion, though representatives from the two companies declined to comment. Options traders aren't shying away, with options volume running at three times its intraday average. The February 130 call is the most popular, followed by the February 105 put. 

During the past 50 days at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have been bullish, driving the call/put volume ratio for that time to 2.83. This ranks in the 84th annual percentile, showing there's been particularly high demand for long SPLK calls.

Splunk stock has been struggling to break out above the $124 level since its Dec. 17 annual low of $105.45. The 70-day moving average, which the stock slipped below during its mid-November bear gap, appears to be keeping a cap on gains today. Year-over-year, SPLK is down 29%, though it sports a 6.5% year-to-date lead. 

It's also worth noting that short interest represents 5.3% of the stock's available float. In other words, it would take over three days to buy back these bearish bets, at the security's average pace of trading. 

The shares of Texas Instruments Incorporated (NASDAQ:TXN) are down 1.4% at $162.17 this morning, following a downgrade from Raymond James to "market perform" from "outperform." The analyst shared its concerns over "rising capital intensity late in the cycle" and a round of unexpected spending details the market wasn't prepared for. It also noted potential risks to earnings and cash flow due to the company's aggressive spending. 

TXN is trading at its lowest levels since March this morning, as the choppy trading the stock has seen recently continues. The security touched a record high of $202.26 in October, and has since shed nearly 20%. 

Circling back to analyst sentiment, the brokerage bunch has been split. Heading into today, 10 of the analysts in coverage called TXN a "hold" or worse, compared to seven "buy" or better ratings. Meanwhile, the 12-month consensus price target of $200.03 is a 21.7% premium to Friday's close. 

Options traders have taken a bearish stance. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), TXN sports a 50-day put/call volume ratio of 1.03, which stands higher than 86% of readings from the past year. In other words, long puts have rarely been more popular during the past 10 weeks. 

Echoing this, short-term options traders have been a lot more put-biased than usual. This is per TXN's Schaeffer's put/call open interest ratio (SOIR) of 1.41, which is in the 76th percentile of its 12-month range. 

As we continue to navigate the stormy seas of the deep winter freeze, we enter options standard expiration week (OPEX) coming off an intra-week reversal for the S&P 500 (SPX – 4,418.64). The bulls' expectations have been muted once again, but what has history told us about this upcoming week?

For the past 20 years, February OPEX week has predominantly been bullish, even when the markets have been battling downtrends and volatility. The seasonal stats for the SPX this week have provided a return of +1.33% on average. Typically, I’m on the lookout for downside risk. Maybe it's the contrarian in me, but perhaps OPEX is a contrarian week to the most recent trend? We’ll see if the seasonality data can hold true amidst the headwinds.

Negative headlines consumed the second half of the trading week after the consumer price index (CPI) came out hotter-than-expected yet again, and up 7.5% on a year-over-year basis, which is the highest rate since February 1982. In addition, Federal Reserve President James Bullard commented he supports a 100bps move in the next three Federal Open Market Committee (FOMC) meetings. Rates will continue to be a headwind until we see inflation data slow down.

At that point, markets could absorb marginal rate hikes and enter a period where slow and steady rate hikes are bullish once again. That is, if hard economic data can remain robust, supporting a strong economy, until the inevitable point that the Fed moves too far and thrusts us into a recession.

This is certainly a tale we have heard before. However, the University of Michigan's consumer sentiment index fell to 61.7, versus the estimate of 67.5. This is the lowest reading since 2011, as consumers fret about the rising cost of goods. In fact, we’ve never seen readings this low without a recession.  

Plus, rumors swirled on Friday that Russia was on the cusp of invading Ukraine. Naturally, the idea the United States could get involved in another military conflict produces volatility, so maybe this is the catalyst the markets needed to retest those January lows, or go even lower.

Typically, military conflicts only produce volatility for a short period, but this could be different from most conflicts. Russia is still considered a superpower country, and they supply an abundance of natural gas and crude oil to Europe. Any type of constrained production could continue to be the tailwind commodities need to keep going higher, especially those that are energy-related, which will only add pressure to inflation.

“Potential resistance in the week ahead between 4,525 and 4,600. The 4,600 level is where the peak of dealer buying related to options open interest diminishes and is the site of last week’s high. Plus, bulls must contend with former resistance (August 2021 closing high) and support (intraday mid-December low) at 4,536. Moreover, a trendline connecting lower highs since this year’s early-January peak lies at 4,570 today and ends the week at 4,525.”

- Monday Morning Outlook, February 7, 2022

With the SPX trading lower Friday and closing below its 200-day moving average as fears began to mount, investors wanted to de-risk from any potential weekend market-moving information. Three key areas throughout the past week were giving us potential signs that we could see a risk-off move.

First, there was resistance at 4,600. Then, the short-term downtrend line that the SPX has been unable to sustainably move above, as highlighted last week. Finally, the 125-day moving average has been capping the index. This is the same trendline that marked recent October lows. Bulls would welcome a confirmation candle above these levels to solidify that late January was indeed the bottom for stocks.

I would not be surprised to see a short-term bounce before a potential fade early in the week towards the 4,480-4,500 area, after the late-week rout, as 4,400 has proven to be a critical level. It marked the August pullback low in 2021, the gap down level on Sept. 20, and the gap up a level weeks later on Oct. 14.

Moreover, this area recently was the pivot level for stocks to move higher off those January lows. Four consecutive sessions could not get past that level, until the fifth session gave us a firm close above it, allowing us to claw back +3.5% in the following days.

If 4,400 fails, we could see a swift move lower towards the 4,300 area, as well as the 260-day moving average, which coincides with the SPX’s newly formed lower rail in a price channel. This would be a logical point bulls should hold to maintain the uptrend, despite all the negative catalysts they’ve been dished recently.

If that level breaks, we open up a vacuum, as there isn’t any significant support until the 3980-4000 range, with the peak put for the SPX residing at the 4,000-strike for February and March expirations.

The Cboe Volatility Index (VIX – 27.36) spread has entered backwardation for the second time in the past 30 days as of Friday, which has been a fairly solid indicator that the bottom for stocks could be near, should the bull market remain intact. The risk is always there that it could be the next 2000, 2008, or 2020. Those won’t ever go away, but knowing the VIX couldn’t hold above 30 on Friday at least gives bulls some hope that this was a late surge of volatility to shake out weak hands, as it’s done so many times before.  

“With climactic sentiment apparently unwinding, and key indices such as the NDX and SPX holding above support levels, emphasize long positions. However, resistance levels linger above, so keep a tight leash if using equities, or use call options in lieu of equities to minimize dollars at risk, while leveraging the potential for upside movement in the weeks ahead.”

  Monday Morning Outlook, February 7, 2022

From a sentiment standpoint, bulls still have contrarian catalysts to make an argument for long equities. As we have noted before, bulls have an unwind taking form in put/call volume ratios that we monitor.

Specifically, the SPX's 10-day buy-to-open put/call volume ratio came in at 0.56 this week, seeing a further unwind from its highest peak since March 2020. What's more, the Nasdaq-100 (NDX – 14,253.84) 10-day buy-to-open put/call volume ratio is experiencing a further unwind, coming in at 0.65 and coming off its highest levels since March 2020.

Additionally, the Investors Intelligence (II) survey data is nearing extreme pessimism levels you typically look for in major bottoms. While we are not in the optimal zone yet, we are extremely close, with the bull minus bear ratio coming in at 8.2% last week -- the lowest reading since the March 2020 Covid-19 crash. As you can see, there is still plenty of pent-up pessimism to fuel a rally if bulls can take control.    

While many traders rightfully call topping a process, bottoming is too. We all love the V snapback bottoms, but the fact is most V-bottoms are not straight up. They’re extremely sloppy as the market attempts to fake out traders on both sides.

To be clear, we are still in no-man’s land. It’s not easy trading in these spots, and broken technical levels often create violent reactions in either direction. While volatility certainly can provide bountiful rewards, traders need to pick their spots wisely, and honor those stops to ensure survival during periods like these.  

Matthew Timpane is Schaeffer's Senior Market Strategist 

• The Week Ahead: Housing Data to Headline Valentine's Day Week
• Indicator of the Week: A Lesson in Randomness Via the Super Bowl Indicator

While the Valentine's Day week will start the week off on a slow note, investors will have plenty to unpack, including data on retail sales, the import price index, and several key housing indicators throughout the rest of the week. Plus, the Federal Reserve will release its latest meeting minutes on Wednesday. 

Corporate earnings remain on the radar. Several big names will report next week, including Airbnb (ABNB), Bloomin' Brands (BLMN), Boston Beer (SAM), Crocs (CROX), Cisco Systems (CSCO), Deere (DE), DoorDash (DASH), Kraft Heinz (KHC), Roblox (RBLX), Roku (ROKU), Shopify (SHOP), ViacomCBS (VIAC), Walmart (WMT), Wynn Resorts (WYNN), and Yeti (YETI). 

Today there is nothing on the economic data schedule.

The following public companies are slated to release corporate earnings today, February 14:

Kelly Services Inc. (NASDAQ:KELYA -- $17.25) provides workforce solutions to various industries. Kelly Services will report its Q4 earnings of 2021 before the open today.

Scorpio Tankers Inc. (NYSE:STNG -- $15.59) engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. Scorpio Tankers will report its Q4 earnings of 2021 before the open today.

TreeHouse Foods Inc. (NYSE:THS -- $35.28) manufactures and distributes private label packaged foods and beverages in the United States and internationally. TreeHouse Foods will report its Q4 earnings of 2021 before the open today.

Advance Auto Parts Inc. (NYSE:AAP -- $222.94) provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. Advance Auto Parts will report its Q4 earnings of 2021 after the close today.

Amkor Technology Inc. (NASDAQ:AMKR -- $20.90) provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and rest of the Asia Pacific. Amkor will report its Q4 earnings of 2021 after the close today.

Arista Networks Inc. (NYSE:ANET -- $120.92) develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Arista Networks will report its Q4 earnings of 2021 after the close today.

Avis Budget Group Inc. (NASDAQ:CAR -- $181.25) provides car and truck rentals, car sharing, and ancillary services to businesses and consumers. Avis Budget will report its Q4 earnings of 2021 after the close today.

The Bank of N.T. Butterfield & Son Ltd. (NYSE:NTB -- $38.01) provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. Bank of N.T. Butterfield & Son will report its Q4 earnings of 2021 after the close today.

Continental Resources Inc. (NYSE:CLR -- $59.64) explores for, develops, and produces crude oil and natural gas primarily in the north, south, and east regions of the United States. Continental Resources will report its Q4 earnings of 2021 after the close today.

Medpace Holdings Inc. (NASDAQ:MEDP -- $174.90) provides clinical research-based drug and medical device development services in North America, Europe, and Asia. Medpace will report its Q4 earnings of 2021 after the close today.

Omnicell Inc. (NASDAQ:OMCL -- $154.39) provides medication management automation solutions and adherence tools for healthcare systems and pharmacies the United States and internationally. Omnicell will report its Q4 earnings of 2021 after the close today.

Otter Tail Corp. (NASDAQ:OTTR -- $60.38) engages in electric utility, manufacturing, and plastic pipe businesses in the United States. Otter Tail will report its Q4 earnings of 2021 after the close today.

Primerica Inc. (NYSE:PRI -- $153.54) provides financial products to middle-income households in the United States and Canada. Primerica will report its Q4 earnings of 2021 after the close today.

Service Corporation International (NYSE:PRI -- $63.07) provides deathcare products and services in the United States and Canada. Service Corporation will report its Q4 earnings of 2021 after the close today.

Spirit Realty Capital Inc. (NYSE:SRC -- $45.96) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. Spirit Realty Capital will report its Q4 earnings of 2021 after the close today.

TriNet Group Inc. (NYSE:TNET -- $83.99) provides human resources (HR) solutions for small and midsize businesses in the United States. TriNet Group will report its Q4 earnings of 2021 after the close today.

Vornado Realty Trust (NYSE:VNO -- $41.31) is concentrated in the nation's key market (New York City) along with the premier asset in both Chicago and San Francisco. Vornado Realty Trust will report its Q4 earnings of 2021 after the close today.

Ziff Davis Inc. (NASDAQ:ZD -- $102.34) operates as a vertically focused digital media and internet company. Ziff Davis will report its Q4 earnings of 2021 after the close today.

Looking ahead to tomorrow, investors will go through the producer price index (PPI) and the Empire State manufacturing index. 

Please note: U.S. stock market will be open for normal trading hours today, February 14, despite the Valentine's Day holiday.

All economic dates listed here are tentative and subject to change.

Volatility seems to be a big theme early in 2022, especially after Thursday's highly anticipated inflation reading. While the Dow kicked off the week with a small win, the Nasdaq and S&P 500 shed some weight thanks to a struggling tech sector. All three benchmarks managed to score solid wins in the next session, following a round of upbeat quarterly reports.

The blue-chip index extended its win streak to three on Wednesday, though it ultimately cut more than 500 points the following day after the consumer price index (CPI) saw its biggest jump since 1982, toppling already lofty expectations. A volatile bond market has put even more pressure on stocks today, with all three indexes eyeing daily and weekly losses. 

Corporate Earnings Shaking Up Markets This Week

There were plenty of earnings reports to unpack over the week, with Walt Disney (DIS) making a big splash after posting a top- and bottom-line beat. Tenet Healthcare (THC) also enjoyed big win, and nabbed a round of bull notes in response, while Mattel (MAT) scored multi-year highs following its quarterly release. Meanwhile, Harley-Davidson (HOG) reported a surprise profit following a shift in strategy to focus on its more expensive bikes.

On the other end of things, Chipotle Mexican Grill (CMG) saw a slew of price-target cuts after its mixed report. Bear notes also poured in for Twilio (TWLO) after a big fourth-quarter loss, despite the company issuing an upbeat current-quarter forecast. Elsewhere, Take-Two Interactive Software (TTWO)and Under Armour (UAA) both wavered on less-than-stellar current-quarter projections.

Headlines Investors Should Watch

Wall Street had to keep its head on a swivel with the amount of corporate headlines coming out this week. Amazon.com (AMZN) and Nike (NKE) were both rumored have their sights set on a Peloton (PTON) buyout, though Cowen and Company said a deal is unlikely. The airline sector saw a big change amongst discount carriers, with Spirit Airlines (SAVE) and Frontier Group's Frontier Airlines (ULCC) set to merge, creating the fifth-largest airline in the U.S.

Dating app giant Bumble (BMBL) made its first-ever acquisition, buying sector member Fruitz for an undisclosed amount. Meanwhile, Novavax (NVAX) fell short on its promised Covid-19 dosage goal, while Affirm (AFRM) shed around 20% on Thursday after the company's official Twitter account accidentally released its quarterly report early.

Earnings, Economic Data Keep Flooding In

Valentine's Day week will include plenty of economic data to sift through, including data on retail sales, the import price index, and several key housing indicators. There will also be a deluge of earnings reports coming out, including results from Airbnb (ABNB), Crocs (CROX), DoorDash (DASH), Roku (ROKU), and Walmart (WMT). In the meantime, check out Schaeffer's Senior Quantitative Analyst Rocky White's breakdown of the Super Bowl Indicator.

Appian Corp (NASDAQ:APPN) is down roughly 1% to trade at $56.04 at last check, likely due to some broader-market headwinds. The software name is just under one week away from its fourth-quarter earnings report, which is due out after the close on Thursday, Feb. 17. Below, we will dive into APPN's technical setup, and some of its previous post-earnings activity.

On the charts, the security has been stuck between a floor around the $50 level and a ceiling at the $60 mark over the last couple of weeks. The shares hit a Jan. 24, all-time low of $46.85, and haven't closed above the 40-day moving average since November. Year-over-year, APPN has shed 74.4%. 

The equity has a history of disappointing post-earnings reactions, finishing six of eight next-day sessions lower in the past two years, including a 22.4% dip in February 2020. Options traders are pricing in a 15.9% swing for APPN this time around, which is much higher than the 10.8% move it averaged following its last eight reports, regardless of direction.

Bears are still firmly in control, despite short sellers hitting the exits. Short interest fell 13.1% over the most recent reporting period, yet the 4.63 million shares sold short still make up 12% of the stock's available float, or more than seven days' worth of pent-up buying power.

The options pits echo that pessimism. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock sports a 10-day put/call volume ratio of 5.89, which sits in the 99th percentile of its 12-month range. In other words, puts have been picked up at a much quicker-than-usual clip. 

The company has grown revenues 13.6% since 2020 and 52.6% since 2018. However, Appian's net income has decreased by nearly $36 million since 2020, having generated $69 million in net losses over the past 12 months.

From a fundamental point of view, Appian stock’s valuation is still far too high for its current growth rate. APPN trades at price-sales ratio of 10.60, which is a rich value for a company growing revenues by less than 20% annually. Overall, Appian stock offers little upside, with a great risk of continuing its bearish run as it settles into a more appropriate valuation.