Daily US Equity Opening News - NXPI, V, TMUS, SBUX, STX up after results, HOOD falls; PRNDY and BF.B end merger talks

US INDEX FUTURES: ES unch, NQ +0.3%, YM unch, RUT unch
BROKER MOVES: SPOT upgraded at Rosenblatt; BF.B downgraded at JPM. For the full list, click here.
MAJOR MORNING MOVES RECAP: BE, NXPI, STX, V, GD, ADP, SBUX, BG, TMUS, MDLZ, HUM, BKNG, GEHC, HOOD. For the full list, click here.DAY AHEAD:
DATA: In North America, March durable goods orders are seen rising 0.5% M/M (prev. -1.4%), and the advance goods trade balance will be released (prev. USD -83.5bln); Atlanta Fed will update its GDPNow tracking estimate.
CENTRAL BANKS: The Fed is expected to leave rates unchanged at 3.50-3.75% (see below for preview); the BoC is also expected to hold at 2.25%; Brazil’s BCB is seen cutting rates by 25bps to 14.5%.
SPEAKERS: Fed’s Powell (voter, neutral) speaks after the policy announcement. BoC’s Macklem speaks post-policy announcement.
EVENTS: The Senate Banking Committee is expected to advance Kevin Warsh’s nomination as Fed Chair to the full Senate today; the vote is set for 10:00EDT/15:00BST; Republican Senator Tillis dropped his block after the DoJ ended an investigation into current Chair Powell, which Tillis saw as a threat to Fed independence.
ENERGY/METALS: The weekly DoE energy inventory report is due; afterhours on Tuesday, the API’s gauge reportedly showed headline crude stocks posting a surprise draw of -1.8mln bbls (exp +0.3mln), Cushing posting a draw of -0.8mln bbls, distillate seeing a slightly larger than expected draw of -2.6mln bbls (exp. -2.3mln), while gasoline stocks posted a much larger than expected draw of -8.5mln bbls (exp. -2.1mln). Separately, Copper, silver and gold April 2026 futures also expire today.
EARNINGS: Notable companies reporting today include: GOOGL, META, AMZN, QCOM, MSFT, AFL, CVNA, EQIX, EBAY, F, CMG, ORLY, ALL.
PRIMER - FED PREVIEW (19:00BST/14:00EDT): The Fed is widely expected to leave rates unchanged at 3.50-3.75%, with focus squarely on Chair Powellʼs guidance, as policymakers assess the inflationary impact of the ongoing US-Iran conflict. The recent surge in oil prices has pushed back rate cut expectations, with a Reuters poll showing a majority of economists now see easing delayed until at least September. Traders also seek details about Powellʼs future, with this meeting expected to be his last as Fed Chair, providing Kevin Warsh is approved in time.
Click here for Newsquawk’s full Fed preview https://www.newsquawk.com/research_sheets/41085/download
PRIMER - BOC PREVIEW (14:45BST/09:45EDT): The BoC is expected to hold rates at 2.25%, according to all 41 economists surveyed by Reuters. More than 80% (33/41) see rates unchanged in 2026, slightly up from 76% in March. At its last meeting, the central bank agreed to keep its options open amid increased upside risks to inflation and downside risks to growth from the Middle East conflict. The governing council removed language saying it “judges the current policy rate remains appropriate”. That was reinforced by March headline CPI and PPI readings, which showed notable acceleration due to surging energy prices. The BoC’s average CPI measure also showed its first acceleration YTD, to 2.37% Y/Y from 2.33%. Adding to uncertainty over the Middle East, free trade negotiations with the US and Mexico are up for renegotiation, with the 1st July deadline approaching. Before the war, consumers had become less negative about their spending plans than in the previous quarter as downward pressure from trade tensions eased. However, that has likely reversed given the surge in gasoline prices. Employment showed a modest rebound in March in line with expectations, as part-time and full-time employment showed little change, leaving the unemployment rate steady at 6.7%. Money markets expect one rate hike by year-end, while only 14/34 economists surveyed by Reuters see that outcome by 27th March.
Click here for Newsquawk’s full BoC preview https://www.newsquawk.com/research_sheets/41087/download

NEWS:

GEOPOLITICS

US-Iran - President Trump instructed aides to prepare for an extended blockade of Iran, targeting its economy and oil exports by preventing shipping to and from its ports, WSJ reports. Trump assessed that maintaining the blockade carried less risk than resuming bombing or walking away from the conflict. Elsewhere, Trump said Iran “can’t get their act together” and urged it to “get smart soon” on a deal; his post included an image of him holding a rifle with explosions behind him, and the caption “NO MORE MR. NICE GUY!”.
Sanctions - The US warned banks they face secondary sanctions if they support Chinese private refiners purchasing Iranian oil, escalating pressure on Tehran ahead of a US-China leaders’ meeting.

TRADE

US-China - The US Commerce Department ordered multiple chip equipment companies to halt certain shipments to Hua Hong and Huali Microelectronics facilities, Reuters reports. Lam Research (LRCX), Applied Materials (AMAT) and KLA (KLAC) were believed to have received letters. The restrictions target concerns over advanced chips and could cost US suppliers billions in sales.
US-China - Ahead of a planned summit between Presidents Trump and Xi next month, US-China tensions are rising over Iranian oil and AI, Bloomberg reports. The Trump administration sanctioned one of China’s largest private refiners, while Treasury Secretary Bessent warned Chinese banks face secondary sanctions if they continue supporting Iran’s revenues, with his department reiterating those warnings on Tuesday.

TECH

Apple (AAPL) - Apple is planning a major overhaul of built-in photo-editing features for iPhone, iPad and Mac, Bloomberg reports. The company is developing AI-powered tools through Apple Intelligence for iOS 27, iPadOS 27 and macOS 27, slated for release this Autumn.
Nvidia (NVDA), Samsung Electronics (005930 KS), SK Hynix (HXSCL) - Nvidia senior director Madison Huang will meet Samsung Electronics and SK Hynix executives to discuss physical AI cooperation, Yonhap reported. Huang’s team oversees Nvidia Omniverse and robotics platforms. She met LG Electronics and Hyundai Motor officials on 28th April.
NXP Semiconductors (NXPI) - Shares jumped in extended trading after a Q1 beat-and-raise, underpinned by an ongoing recovery in industrial and automotive chip markets as customers clear excess inventory and orders improve. Q1 2026 (USD): Adj. EPS 3.05 (exp. 2.98), Revenue 3.18bln (exp. 3.15bln), with broad-based improvement across focus-end markets, led by company-specific growth drivers and customer adoption of its differentiated portfolio, particularly in industrial and automotive processing, supporting software-defined vehicles and physical AI. The CEO said momentum is expected to accelerate through the rest of 2026, with progress increasingly extending across the core business, while it remains focused on disciplined investment, margin expansion and portfolio optimisation. Sees Q2 EPS between 3.29-3.72 (exp. 3.21), Q2 revenue between 3.35-3.55bln (exp. 3.27bln).
OpenAI - OpenAI's USD 500bln "Stargate" plan to secure computing power is being reworked and, in some places, abandoned, FT reports. A person involved in the buildout said "it is a completely antiquated line right now". People familiar said "OpenAI has abandoned the joint venture in favour of a series of large bilateral deals. But OpenAI executives said the guiding principle remains to build more compute."
LG Electronics (066570 KS) - LG Electronics returned to net profit in Q1 after a loss in the previous quarter, signalling resilient growth despite tariff and Middle East tensions. Revenue rose +4.3% Y/Y to nearly KRW 24tln, while the company streamlined its TV business and increased local production in the US and Mexico.
Seagate Technology (STX) - Shares surged in extended trading after it issued an upbeat forecast, boosting confidence that enterprise AI spending will remain strong, and continue driving demand for data storage equipment. Q3 2026 (USD): Adj. EPS 4.10 (exp. 3.51), Revenue 3.11bln (exp. 2.96bln); Data centre revenue 2.5bln, +55% Y/Y. Sees Q4 adj. EPS at 5.00 (exp. 3.99), and Q4 revenue of 3.45bln (exp. 3.16bln). Sees FY26 capex 4-6% of revenue and expects cash flow generation to improve in Q4.
Rogers Corporation (ROG) Q1 2026 (USD): Adj. EPS 0.75 (exp. 0.68), Revenue 200.5mln (exp. 200.5mln); Q1 adj. EBITDA margin +580bps Y/Y. Sees Q2 adj. EPS between 0.90-1.10 (exp. 0.79), and Q2 revenue of 210-220mln (exp. 210.9mln).
FICO (FICO) Q1 2026 (USD): EPS 11.14 (exp. 10.97), Revenue 691.7mln (exp. 627.1mln). Raised FY26 EPS view to 40.45 (exp. 41.56; prev. saw 38.17) and raised FY26 revenue to 2.45bln (exp. 2.48bln; prev. saw 2.35bln).
F5 (FFIV) Q2 2026 (USD): Adj. EPS 3.90 (exp. 3.44), Revenue 811.7mln (exp. 779.38mln); raised FY26 adj. EPS view to 16.25-16.55 (exp. 15.97, prev. 15.65-16.05) and Q3 adj. EPS of 3.91-4.03 (exp. 3.87). For revenue, sees FY26 growth of 7-8% and Q3 revenue of 820-840mln (exp. 818.51mln).
Enphase Energy (ENPH) Q1 2026 (USD): Adj. EPS 0.47 (exp. 0.45), Revenue 282.9mln (exp. 282.4mln).
Teradyne (TER) Q1 2026 (USD): EPS 2.56 (exp. 2.11), Revenue 1.28bln (exp. 1.21bln); sees Q2 EPS at 1.86-2.15 (exp. 1.95) and Q2 revenue of 1.15-1.25bln (exp. 1.19bln).
Automatic Data Processing (ADP) Q1 2026 (USD): Adj. EPS 3.37 (exp. 3.29), Revenue 5.9bln (exp. 5.85bln), Adj. EBIT 1.8bln (exp. 1.74bln).
Garmin Ltd. (GRMN) Q1 2026 (USD): EPS 2.08 (exp. 1.82), Revenue 1.75bln (exp. 1.72bln). Record operating income of 432mln, +30% Q/Q. Maintained current FY EPS view of 9.35 (exp. 9.40) and current FY revenue outlook of 7.9bln (exp. 7.99bln).
Cognizant Tech (CTSH) Q1 2026 (USD): Adj. EPS 1.40 (exp. 1.33), Revenue 5.41bln (exp. 5.41bln). Sees Q2 revenue of 5.45-5.52bln (exp. 5.56bln) and raised FY26 adj. EPS view to 5.63-5.77 (exp. 5.65, prev. 5.56-5.70). Cut FY26 revenue view to 22.11-22.64bln (exp. 22.36bln, prev. 22.14-22.66).
Amphenol (APH) Q1 2026 (USD): Adj. EPS 1.06 (exp. 0.94), Revenue 7.6bln (exp. 7.08bln). Sees Q2 sales at 8.1-8.2bln (exp. 7.7bln) and Q2 adj. EPS of 1.14-1.16 (exp. 1.05).
Anthropic - Goldman Sachs (GS) staff in Hong Kong have lost access to Anthropic’s Claude, Bloomberg said. The restriction is location-specific, meaning overseas staff visiting Hong Kong are also unable to use the tool whilst in the city.

COMMUNICATIONS

Meta Platforms (META) - The European Commission preliminarily found Meta’s Instagram and Facebook breached the DSA by failing to identify, assess and mitigate risks of under-13s using the services. It said Meta’s age checks, reporting tool and follow-up were ineffective. Meta can respond, and confirmed breaches could trigger potential fines of up to 6% of worldwide annual turnover.
T-Mobile (TMUS) - T-Mobile shares rose in extended US trading after it reported better-than-expected earnings and revenue, stronger postpaid net account additions, raised net account addition guidance, and added support from the SuperBroadband launch with Starlink. Q1 2026 (USD): EPS 2.27 (exp. 2.11), Revenue 23.1bln (exp. 23.02bln). Q1 postpaid net account additions 217,000 (exp. 193,236). The CEO said Q1 marked a strong start to the year, citing accelerating postpaid net account growth and strong postpaid ARPA growth. Sees FY26 core adj. EBITDA between 37.1-37.5bln (prev. saw 37.0-37.5bln), adj. free cash flow between 18.1-18.7bln (prev. saw 18.0-18.7bln), postpaid net account additions between 0.95-1.05mln (exp. 0.973mln; prev. saw 0.9-1mln), and net cash provided by operating activities, including payments for US Cellular merger-related costs, between 28.1-28.7bln.
Disney (DIS) - Disney has decided against spinning off ESPN, keeping the sports network in-house as part of its streaming pivot, Business Insider reports. New CEO Josh D’Amaro may revisit the decision later. Disney will continue offering ESPN via cable, bundled streaming with Hulu and Disney+, and as a streaming service.
Omnicom (OMC) Q1 2026 (USD): Adj. EPS 1.90 (exp. 1.84), Revenue 6.24bln (exp. 5.91bln). The CEO said it remains on track to achieve substantial cost reduction synergies. Sees USD 3.5bln of share repurchases this year under its USD 5.0bln authorisation.
Spotify (SPOT) - Upgraded at Rosenblatt to 'Buy' from 'Neutral' with a USD 500 PT (prev. 670). The firm notes that Spotify's Q1 report was in line and the Q2 outlook is "fine on sales, but low for operating income and a slight miss on premium subscribers". Rosenblatt views Spotify's revenue trajectory as "solid but in-line" and sees value in the shares at current levels.

CONSUMER DISCRETIONARY

Starbucks (SBUX) - Shares jumped in extended trading after it reported better-than-expected Q2 results, stronger SSS and traffic growth, and a raised FY guidance, with management stating that its turnaround is taking hold despite higher gas prices. Q2 2026 (USD): EPS 0.50 (exp. 0.44), Revenue 9.5bln (exp. 9.23bln); Q2 global comp sales +6.2% Y/Y, driven by comparable transactions +3.8% and average ticket +2.3%, while US licensed stores returned to positive system comps for the first time since Q1 of FY24, led by record airport volumes and improvement in retail and grocery. The CEO said Q2 marked “the turn in our turnaround” as the ‘Back to Starbucks’ plan drove top- and bottom-line growth. Product and distribution costs rose due to innovation-led mix, tariffs and elevated coffee prices, but expect tariff and coffee pressures to moderate in H2. In May, it is rolling out an app feature allowing customers to schedule order pickup times, while its new 60-point Starbucks Rewards redemption option has become the most used reward. Sees FY26 revenue roughly flat Y/Y, raised FY26 EPS to between 2.25-2.45 (exp. 2.28; prev. saw 2.15-2.40), and raises FY26 global and US comparable store sales growth to 5%+ (from 3%+).
Booking Holdings (BKNG) Q1 2026 (USD): Adj. EPS 1.14 (exp. 1.08), Revenue 5.5bln (exp. 5.52bln). Gross bookings 53.8bln (exp. 54.24bln). Q1 room nights +6% Y/Y, with Middle East conflict estimated to have reduced growth by roughly 2ppts; gross bookings +15% Y/Y, or +8% in CC, and airline tickets +28% Y/Y; cancellations were elevated due to the conflict, while Middle East represented roughly 7% of 2025 room nights. Sees Q2 room nights growth between 2-4%, gross bookings growth between 4-6%, revenue growth between 4-6% (exp. 7.53bln), and adj. EBITDA growth between 4-6%, assuming Middle East disruption continues through June. Sees FY26 revenue growth in high single digits, gross bookings growth in high single digits to low double digits, constant currency revenue growth in mid to high single digits, adjusted EBITDA growth slightly faster than revenue growth, and lowered its FY26 adj. EPS growth view to low to mid-teens (from mid-teens).
Caesars (CZR) Q1 2025 (USD): Adj. EBITDA 887mln, Revenue 2.87bln (exp. 2.85bln). Caesars Digital revenue 374mln, adj. EBITDA 69mln, both reaching record Q1 levels. Las Vegas trends continued to improve sequentially, with hospitality occupancy of 95.3%, ADR +1% Y/Y, and group occupied room mix of 19%, while leisure trends remained down Y/Y but improved vs H2 2024. The CEO said the Regional segment delivered improved adj. EBITDA Y/Y after excluding last year’s Super Bowl LX benefit in New Orleans. Continues to see sequential improvement in Las Vegas operating trends for the rest of 2026, expects Digital to remain capable of 20% top-line revenue growth with 50% flow-through to EBITDA, and expects strong free cash flow during the balance of 2026 from operating momentum, lower cash interest expense and lower capex.
Etsy Inc. (ETSY) Q1 2026 (USD): EPS 0.60 (exp. 0.62), Adj. EBITDA 185mln, Net income 105mln, Revenue 631mln (exp. 621mln), GMS 2.5bln. Etsy marketplace growth +5.5% Y/Y.
Mercedes-Benz (MBG) - Mercedes said it remains confident of recovering operating earnings despite lower Q1 revenue and profitability. EBIT fell 17% Y/Y in Q1 to EUR 1.9bln. Expects new auto models to help lift sluggish sales, with more than 40 models reaching showrooms between last year and next. Q1 adj. EBIT EUR 1.77bln (exp. 1.63bln), Q1 revenue EUR 31.6bln (exp. 31.9bln), Q1 EPS 1.49 (prev. 1.74 Y/Y). Confirmed guidance.
Adidas (ADDYY) Q1 2026 (EUR): Net Sales 6.592bln (exp. 6.6bln, prev. 6.153bln Y/Y), Operating Profit 705mln (exp. 647mln, prev. 610mln Y/Y). FY 2026 outlook confirmed with currency-neutral sales up high-single-digit and operating profit around 2.3bln.
Yum! Brands Inc. (YUM) Q1 2026 (USD): EPS 1.50 (exp. 1.38), Revenue 2.06bln (exp. 2.04bln). Worldwide SSS +3% (exp.+2.51%); KFC division same-store sales +2% (exp. +2.48%); Taco Bell division same-store sales +8% (exp. +5.21%).
Rush Street Interactive (RSI) Q1 2026 (USD): EPS 0.14 (exp. 0.12), Revenue 370.4mln (exp. 330.09mln); sees FY26 revenue at 1.49-1.54bln (exp. 1.41bln).
O-I Glass (OI) Q1 2026 (USD): Adj. EPS 0.05 (exp. 0.12), Revenue 1.54bln (exp. 1.47bln); cut FY26 adj. EPS view to 1.00-1.50 (exp. 1.66, prev. 1.65-1.90).
Lululemon (LULU) - Chip Wilson issued a letter to Lululemon shareholders criticising board's selection of Heidi O'Neill as CEO adding CEO and director selections show board continues to misunderstand brand.
Geely Automobile (GELHY) - Geely Automobile’s Q1 profit attributable fell 27% Y/Y to CNY 4.17bln (exp. 4.49bln). Revenue +15% to CNY 83.78bln; vehicle sales +1% to 709.4K units. Core profit excluding FX impacts, and one-off items +31%, at CNY 4.56bln.
Pernod Ricard (PRNDY), Brown-Forman (BF.B) - Pernod Ricard and Brown-Forman have ended discussions on a potential business combination after failing to reach mutually acceptable terms. Pernod said it remains focused on its strategy and operating model.
China Autonomous Vehicles - China has suspended issuing new autonomous vehicle licences, after dozens of Baidu (BIDU) Apollo Go robotaxis abruptly stopped in Wuhan last month, stranding passengers and disrupting traffic, Bloomberg reports. Agencies convened a meeting with officials from cities running robotaxi or autonomous-driving pilots, calling for full self-reviews and enhanced safety monitoring.

FINANCIALS

Fed Regulation - Bank groups told a House hearing on Tuesday that the Fed’s eased capital proposals, while a significant improvement over prior versions, still require further changes to address risk assessments they argue could constrain lending.
Card Companies - Pennsylvania Attorney General Dave Sunday led a bipartisan coalition of 24 Attorneys General and the City of New York urging American Express (AXP), Capital One (COF), Citigroup (C), Mastercard (MA), Visa (V), PayPal (PYPL), Stripe, Sezzle and Block (XYZ) to curb sales of illegal vaping products.
Visa (V) - Shares rose in extended trading after it reported a Q2 beat, supported by strong transaction volumes, resilient consumer spending, solid cross-border activity and continued strength across payments, money movement and value-added services. Q2 2026 (USD): Adj. EPS 3.31 (exp. 3.10), Revenue 11.2bln (exp. 10.75bln). Board authorised a new USD 20bln share repurchase programme, and declared a quarterly cash dividend of 0.670/shr. Q2 payments volume +9%, total cross-border volume +12%, cross-border volume excluding intra-Europe +11%, and processed transactions +9%. Exec said consumer spending remained resilient, while growth was supported by consumer payments, commercial and money movement solutions, and value-added services. It continued to enhance its Visa as a Service stack, including agentic and stablecoin capabilities. Sees Q3 EPS growth in mid to high single digits, net revenue growth in low double digits and operating expense growth in low teens. Sees FY26 EPS growth in low teens, net revenue growth in low double digits to low teens and operating expense growth in low double digit to low teens.
Blackstone (BX) - Announced a strategic focus for its private credit fund, targeting market leaders in verticals less susceptible to AI-related disruption.
Robinhood (HOOD) - Shares dropped in extended trading after it reported a Q1 miss, as stronger customer engagement and a solid start to Q2 was offset by higher planned spending tied to building and supporting Trump Accounts. Q1 2026 (USD): EPS 0.38 (exp. 0.43), Revenue 1.07bln (exp. 1.14bln), Q1 ARPU +8% Y/Y to 157; customers delivered a 20%+ annualised net deposit growth rate; equities and options both posted double-digit growth; prediction markets, futures, and index options volumes reached records. CFO said customers remained engaged and rapidly adopted new products, while Q2 started well in April, with equity and option trading volumes on track for the highest month of the year, and net deposits approximately USD 5bln mtd despite tax season. Sees FY26 adj. operating expenses and SBC between 2.7-2.825bln (raised from 2.6-2.725bln), reflecting an additional 100mln investment to build and support the user interface for Trump Accounts, with the work contracted on a cost-plus basis and expected revenue to exceed costs.
SoFi Tech (SOFI) Q1 2026 (USD): EPS 0.12 (exp. 0.12), Revenue 1.1bln (exp. 1.05bln). Sees Q2 adj. net revenue growth of 30% and sees FY26 adj. EPS of 0.60 (exp. 0.59).
Arch Capital (ACGL) Q1 2026 (USD): EPS 2.88 (exp. 2.46).
Banco Santander (SAN) - Spain’s biggest lender Banco Santander reported Q1 net income of EUR 5.5bln (exp. 5.0bln), EPS 0.36 (exp. 0.26), NII 5.46bln (exp. 4.97bln); Q1 loan provisions EUR 3.23bln (exp. 3.17bln). Said profit was supported by strong lending revenue and fees. Reaffirms 2026-28 targets.
UBS Group (UBS) Q1 2026 (USD): Revenue 14.2bln (exp. 13.2bln), Net income 3.04bln (exp. 2.42bln); announced a share buyback of up to 3bln, aims to do more by year-end. Q1 NII 2.32bln (prev. 1.62bln Y/Y), credit loss expenses of 70mln (prev. 100mln Y/Y). Said it is confident in FY26 financial targets, and is on track to complete Credit Suisse integration by year-end. The CEO said Swiss capital requirement developments would not change the firm’s identity, diversified business model, or global and regional footprint, while the company would continue constructive engagement and contribute to fact-based deliberations.
Deutsche Bank (DB) - Reported higher-than-expected Q1 profit and revenue as trading held up and income rose from asset management and retail banking. Fixed-income and currencies trading was roughly flat Y/Y at EUR 2.9bln, slightly ahead of analyst expectations for a 2.4% decline. Q1 revenue EUR 8.7bln (exp. 8.53bln), Q1 pretax profit EUR 3bln (exp. 2.78bln), FICC sales & trading revenue EUR 2.85bln (exp. 2.87bln). The bank said Q1 investment bank credit provisions +77% Y/Y to EUR 290mln, driven by a single-name event linked to commercial property; the charge reflected a revaluation of existing exposure.
Radian Group (RDN) - Double upgraded at BofA to 'Buy' from 'Underperform' with a USD 43 PT (prev. 35). Over the last few months, Radian has announced an exit from its real estate services businesses and closed the Inigo acquisition, simplifying the model and improving earnings quality, notes the analyst, who calls shares "attractively valued" relative to other mortgage insurance companies and "cheap on multiple metrics."

INDUSTRIALS

General Dynamics (GD) Q1 2026 (USD): EPS 4.10 (exp. 3.67), Revenue 13.5bln (exp. 12.70bln), Op. earnings 1.42bln (exp. 1.28bln), Net income 1.13bln (exp. 1.01bln).
Lennox International (LII) Q1 2026 (USD): EPS 3.35 (exp. 3.16), Revenue 1.14bln (exp. 1.07bln); backed FY26 EPS view of 23.50-25.00 (exp. 24.16) and raised FY26 revenue view to up 8% (prev. up 6-7%)
Ingersoll Rand (IR) Q1 2026 (USD): Adj. EPS 0.77 (exp. 0.74), Revenue 1.85bln (exp. 1.83bln). Exec said 2026 began with solid momentum, remains confident in reaching its annual revenue target, supported by a robust M&A pipeline, and IRX. Maintained FY26 adj. EPS between 3.45-3.57 (exp. 3.52), and FY26 revenue growth view of 2.5-4.5%.
Bloom Energy (BE) Q1 2026 (USD): EPS 0.23 (exp. 0.13), Revenue 751mln (exp. 540mln). Raised FY26 revenue view to 3.4-3.8bln (exp. 3.26bln, prev. 3.1-3.3bln) and lifted FY26 EPS view to 1.85-2.25 (exp. 1.44, prev. 1.33-1.48).
Veralto (VLTO) Q1 2026 (USD): Non-GAAP EPS 1.07 (exp. 1.01), Revenue 1.422bln (exp. 1.4bln). Raised FY26 adj. EPS view to 4.20-4.28 (exp. 4.20, prev. 4.10-4.20).
Waste Management (WM) Q1 2026 (USD): Adj. EPS 1.81 (exp. 1.74), Revenue 6.227bln (exp. 6.29bln).
Generac Holdings (GNRC) Q1 2026 (USD): Adj. EPS 1.80 (exp. 1.33), Revenue 1.06bln (exp. 1.05bln); sees FY26 revenue growth of "mid-to-high teens percentage range".
Stanley Black & Decker (SWK) Q1 2026 (USD): Adj. EPS 0.80 (exp. 0.59), Revenue 3.85bln (exp. 3.75bln). Backed FY26 adj. EPS view of 4.90-5.70 (exp. 5.21).
Idex (IEX) Q1 2026 (USD): Adj. EPS 2.00 (exp. 1.77), Revenue 887mln (exp. 847.52mln); raised FY26 adj. EPS view of 8.35-8.55 (exp. 8.27, prev. 8.15-8.35) and sees Q2 adj. EPS of 2.07-2.12 (exp. 2.09).
Emcor Group (EME) Q1 2026 (USD): EPS 6.84 (exp. 5.90), Revenue 4.63bln (exp. 4.2bln); raised FY26 EPS view to 28.25-29.75 (exp. 28.25, prev. 27.25-29.25) and raised FY26 revenue view to 18.5-19.25bln (exp. 18.14bln, prev. 17.75-18.5bln).
Old Dominion (ODFL) Q1 2026 (USD): EPS 1.14 (exp. 1.05), Revenue 1.33bln (exp. 1.31bln).
Verisk Analytics (VRSK) Q1 2026 (USD): Adj. EPS 1.82 (exp. 1.74), Revenue 782.6mln (exp. 772.37mln).
Avis Budget Group (CAR) Q1 2026 (USD): EPS -8.01 (exp. -7.50), Revenue 2.53bln (exp. 2.44bln).
KONE Oyj (KNYJY) - Kone has agreed to buy German rival TK Elevator from Advent and Cinven, in a transaction valued at EUR 29.4bln, which would create the world’s largest lift maker, ahead of OTIS (OTIS).
Spirit Aviation (FLYYQ) - Talks over potential USD 500mln US government rescue have hit an impasse, Bloomberg reports. A lender group, including Citadel, is resisting terms likely to severely impair its claims and recoveries, and its recent counterproposal has gone unanswered, the report adds.

HEALTHCARE

AbbVie Inc. (ABBV) Q1 2026 (USD): Adj. EPS 2.65 (exp. 2.59), Revenue 15bln (exp. 14.72bln). Raised FY26 adj. EPS view to 14.08-14.28 (exp. 14.12, prev. 13.96-14.16). Skyrizi revenue 4.48bln, Rinvoq revenue 2.12bln, Humira revenue 688mln.
Novo Nordisk (NVO) - Canada approved its first generic versions of Novo Nordisk’s Ozempic, with Health Canada assigning drug identification numbers to semaglutide injections; Novo’s protection against generics in Canada expired on 4th January, paving the way for cheaper access to the diabetes drug.
AstraZeneca (AZN) - Q1 profit grew more than expected, supported by demand for its cancer medicines. EPS excluding some items was USD 2.58 (exp. 2.55); it said it remains on track to achieve its 2030 targets, and confirmed guidance.
GSK (GSK) - Q1 profit beat expectations, helped by specialty medicines for HIV, cancer and immune diseases. EPS rose to GBP 0.465 (exp. 0.432). Gross Profit declined Y/Y to 1.87bln from 1.93bln;GSK said specialty medicines, including Jemperli for endometrial cancer and Apretude to prevent HIV, will likely drive low double-digit growth this year.
Biogen Inc. (BIIB) Q1 2026 (USD): Adj. EPS 3.57 (exp. 2.99), Revenue 2.5bln (exp. 2.25bln); sees FY adj. EPS at 14.20-15.25 (exp. 15.46, prev. saw 15.25-16.25). Updated guidance includes an approximately USD 1.00 impact from acquired IPR&D charges resulting from ongoing business development activities to support Biogen's growth strategy.
GE Healthcare Technologies Inc. (GEHC) Q1 2026 (USD): EPS 0.99 (exp. 1.05), Revenue 5.1bln (exp. 5.03bln). Guidance: Current FY EPS 4.80-5.00 (exp. 5.06).
Regeneron Pharmaceuticals Inc. (REGN) Q1 2026 (USD): EPS 9.47 (exp. 8.80), Revenue 3.61bln (exp. 3.47bln). Dupizent revenue 4.9bln, +33%. Announced a new 3bln share repurchase programme.
Centene (CNC) - Upgraded at Cantor to 'Overweight' from 'Neutral' with a USD 60 PT (prev. 41). The firm says the company's path to margin improvement "has become incrementally clear." . Cantor sees a "compelling entry point" at current share levels, saying its base case Scenario implies 90% stock appreciation over two years. The firm views the healthcare exchange bear case scenario in Q2 and Q3 as unlikely and views Centene's 2026 outlook as conservative.
Molina Healthcare (MOH) Centene (CNC)- Both shares were double upgraded at BofA to' Buy' from 'Underperform' due to Medicaid margins likely bottoming in 2026. The firm sees a return to target margins "being more a matter of time and math" as state data slowly catch up to trend/risk pool shifts in 2024/25, improving rates and margins in 2027.

ENERGY

Phillips 66 (PSX) Q1 2026 (USD): Adj. EPS 0.49 (exp. -0.53), Adj. EBITDA 1.26bln (prev. 2.53bln Y/Y); Increased the annualised quarterly dividend by 7%. CEO: "We are confident in our ability to navigate market volatility due to our integrated business and the strength of our balance sheet. Backed by disciplined execution and strong operating performance, we remain well positioned to provide energy to the global market". Formally increased Sweeny NGL fractionation capacity and Freeport LPG export dock capacity by 23% and 15%, respectively, reflecting 2025 debottlenecking.
TotalEnergies (TTE) - Raised shareholder returns after Q1 profit rebounded on soaring oil and gas prices; plans Q2 share buybacks of up to USD 1.5bln (vs USD 750mln targeted in Q1), and increased its quarterly dividend to EUR 0.90/shr (prev. 0.85).
ONEOK (OKE) Q1 2026 (USD): EPS 1.23 (exp. 1.32), adj. EBITDA rose to 1.997bln (prev. 1.775bln Y/Y), supported by Y/Y volume growth and operational execution across its integrated asset portfolio. The CEO cited that strong performance across multiple business segments, alongside a constructive market environment, is strengthening the company’s forward outlook and building momentum through the year. Raised FY26 EPS to a midpoint of 5.53, raised FY26 net income to between 3.21-3.79bln, raised FY26 adj. EBITDA to be between 8.0-8.5bln, and maintains FY26 total capex between ~2.7-3.2bln.
Northern Oil and Gas (NOG) Q1 2026 (USD): Adj. EPS 0.74 (exp. 0.68), Revenue 539.9mln (exp. 507mln). Exec said the current geopolitical environment is creating dynamic conditions for the business, but it is well-positioned, supported by improved field-level price realisations, and hedging that insulates it from seasonal weakness in natgas prices. The CEO said improvements in 2027 and 2028 forward prices support confidence in activity durability, M&A market liquidity and NOG’s ability to compete for high-quality assets. Operator activity has remained relatively unchanged Q/Q, though the company will continue to monitor operator plans and activity in the coming quarters.
Humana Inc. (HUM) Q1 2026 (USD): EPS 10.31 (exp. 10.21), Revenue 39.648bln (exp. 39.37bln); revised GAAP FY EPS guidance to "at least" 8.36 (prev. "at least" 8.89), affirmed Adj. EPS guidance of "at least 9.00". Guided initial FY26 Revenue "at least" 160bln (exp. 162bln).
Expand Energy (EXE) Q1 2026 (USD): Adj. EPS 3.83 (exp. 3.64), Revenue 4.4bln (exp. 3.05bln).

REAL ESTATE

CoStar (CSGP) Q1 2026 (USD): EPS 0.23 (exp. 0.18), Revenue 897mln (exp. 896.7mln). Net new bookings +20% Y/Y to USD 67mln, revenue growth remained double digit for the 60th consecutive quarter, adj. EBITDA +100% Y/Y. The CEO said the Homes.com AI app launch contributed to a 119% increase in organic traffic, with customer engagement improving across time on site, page views and bounce rates, while Homes.com members rose more than 200% Y/Y to 35,000. Sees Q2 EPS between 0.27-0.30 (exp. 0.27), Q2 revenue between 922-932mln (exp. 929.4mln). Reaffirmed FY26 revenue view of 3.78-3.82bln, raised FY26 adj. EBITDA view to 780-820mln (up USD 30mln at the midpoint), sees FY26 EPS between 1.32-1.39.
Welltower (WELL) Q1 2026 (USD): Normalised FFO 1.47 (exp. 1.45), Revenue 3.35bln (exp. 3.2bln). Total portfolio SSNOI growth was 16.4% Y/Y, driven by Seniors Housing Operating SSNOI growth of 22.1%. Raised FY26 normalised FFO to between 6.21-6.35 (exp. 6.22; prev. saw 6.09-6.25).
Extra Space Storage (EXR) Q1 2026 (USD): Core FFO 2.04 (exp. 2.01), Revenue 856.03mln (exp. 727.72mln); reaffirmed FY26 core FFO view of 8.05-8.35 (exp. 8.24).
Equity Residential (EQR) Q1 2026 (USD): Normalised FFO 0.99 (exp. 0.95), Revenue 779.85mln (exp. 784.24mln); sees Q2 normalised FFO at 0.98-1.02.
BXP (BXP) Q1 2026 (USD): FFO 1.59 (exp. 1.58), Revenue 872.15mln (exp. 844.33mln); sees Q2 FFO at 1.69-1.71 (exp. 1.72) and FY26 FFO of 6.90-7.04 (exp. 6.98).
Essex Property Trust (ESS) Q1 2026 (USD): FFO 4.06 (exp. 3.96).

MATERIALS

PPG Industries (PPG) Q1 2026 (USD): EPS 1.83 (exp. 2.24), Revenue 3.93bln (exp. 4.35bln). Performance was driven by strength in aerospace and architectural coatings in Latin America. Expects strong growth in aerospace, architectural coatings, Latin America, protective and marine coatings and packaging coatings, with automotive refinish organic sales expected to improve in H2. Said raw material, energy, logistics and packaging costs have risen in recent weeks, and it has announced global price adjustments to offset inflation more quickly than in prior cycles. Reaffirmed FY26 EPS view of 7.70-8.10 (exp. 7.97) and sees Q2 EPS and sales flat to growth of low single-digit percentage.
Vulcan Materials (VMC) Q1 2026 (USD): Adj. EPS 1.35 (exp. 1.10), Revenue 1.76bln (exp. 1.62bln); backed FY26 adj. EBITDA view of 2.4-2.6bln.
Vale (VALE) Q1 2026 (USD): Net profit 1.89bln (exp. 2.05bln), Revenue 9.26bln (exp. 9.37bln). Performance was supported by higher sales volumes and improved realised prices, though results were partly offset by a stronger BRL and higher operating expenses. Iron ore sales +3.9% Y/Y to 68.7mln metric tonnes, the highest Q1 level since 2018, copper sales +11.4% Y/Y and nickel sales +15.2% Y/Y, with output for copper and nickel at the highest Q1 levels since 2017 and 2020, respectively. Average realised iron ore fines prices +5.5% Y/Y to USD 95.80/tonne. Q1 capex -7% Y/Y to 1.09bln, in line with FY26 capex guidance between 5.4-5.7bln.

CONSUMER STAPLES

Mondelez (MDLZ) Q1 2026 (USD): Adj. EPS 0.67 (exp. 0.61), Revenue 10.08bln (exp. 9.74bln); reaffirmed FY adj. EPS view of flat to up 5%.
Brown-Forman (BF.B) - Downgraded at JPMorgan to 'Underweight' from 'Neutral' with a USD 23 PT (prev. 27), after the company terminated its merger talks with Pernod Ricard. With less strategic fit, a potentially more burdensome regulatory process, and likely less control versus a Pernod Ricard deal, a Brown takeover by Sazerac has a lower probability, the firm noted. JPMorgan believes the focus will turn back to Brown-Forman's fundamentals and limited earnings growth.
Bunge Global SA (BG) Q1 2026 (USD): EPS 1.83 (exp. 0.88), Revenue 21.9bln (exp. 23.31bln). Upgrades Guidance: Current FY EPS 9.0-9.50 (exp. 8.46, prev. guided 7.50-8.00).
Estee Lauder (EL) - Puig (PUIG SM) CEO said talks with Estee Lauder are ongoing.
Carlsberg (CABGY) - Carlsberg reported Q1 organic volume growth of 2.8%, in line with analyst estimates, with positive sales volumes across all regions. The company said its push into alcohol-free drinks is gaining traction despite disruption from the Iran war, and maintained FY26 operating profit growth guidance of 2-6%.

UTILITIES

Edison International (EIX) Q1 2026 (USD): EPS 1.42 (exp. 1.33), Revenue 4.10bln (exp. 4.13bln). The CEO said the company was pleased with its start to the year and momentum across the business, focused on supporting wildfire-impacted communities through Southern California. Maintained FY26 EPS between 5.90-6.20 (exp. 6.11).
FirstEnergy (FE) Q1 2026 (USD): Adj. EPS 0.72 (exp. 0.72), Revenue 4.2bln (exp. 3.84bln). Maintained FY26 adj. EPS view between 2.62-2.82 (exp. 2.73); also reaffirmed long-term core EPS CAGR near the top end of 6-8% from 2026-2030.
Entergy (ETR) Q1 2026 (USD): EPS 0.86 (exp. 0.84); sees FY Outlook Adj. EPS 4.25-4.45 (exp. 4.39).