Early Look

Friday, May 1, 2026

U.S. futures are looking mixed to higher, helped by strong results and guidance from tech bellwether Apple (AAPL) as shares are higher 3% overnight after the stock market on Thursday defied the odds again, with the S&P 500, and Nasdaq Comp both closing at record highs, and the Dow Jones Industrial Average outperforming behind solid earnings from Caterpillar. All eleven S&P sectors closed higher on Thursday with more than 2% gains for Industrials (XLI), Utilities (XLU) and Healthcare (XLV) as earnings results in the respective sectors kept the buying momentum going to end the month. While major averages are making all-time highs, Treasury yields have spiked and oil prices have surged in recent weeks as the Strait of Hormuz remains mostly closed to tankers, continuing to disrupt supplies of oil, aluminum, and other commodities, raising inflation fears. Speaking of, PCE inflation data came in “hotter” on Thursday, raising prospects the next move by the Fed, when time comes, might be a hike not a cut. Despite the oil surge, inflation fears and mixed economic data, U.S. markets continue to climb the proverbial “wall of worry” led by strength in Ai related tech plays.

What a month it was as the S&P 500 gained 10.42%, the Nasdaq climbed 15.29% (helped by a 38% spike in the semi SOX index), and the Dow climbed 7.14%. Dow industrials record biggest monthly% gain since November 2024, the S&P 500 registers biggest monthly% gain since November 2020 and Nasdaq records biggest monthly% gain since April 2020.

he Russell 2000 climbed more than 12%, also its best month since November 2020. The Technology Select Sector (XLK) gained 20%, its best month since October 2002.Fear absent in the market again as the CBOE Volatility index (VIX) tumbled around 10% under 17 late day. In Asian markets, The Nikkei Index climbed 228 points to 59,513, the Shanghai Index and the Hang Seng Index were both closed. In Europe, the German DAX is up 337 points to 24,292, while the FTSE 100 is down -65 points to 10,313.

• The Dow Jones Industrial Average rose 790.33 points, or 1.62%, to 49,652.14
• The Nasdaq Composite gained 219.07 points, or 0.89%, to 24,892.31
• The Russell 2000 Index advanced 60.39 points, or 2.20% to 2,699.86

• 10:00 AM ET ISM Manufacturing PMI for April
• 1:00 PM ET                    Baker Hughes Weekly rig count data
• Monthly auto sales for April released

• President Donald Trump signed an executive order on Thursday to create a government website allowing people in the U.S. to find and compare private-sector retirement savings plans. The aim is to help more Americans sign on for retirement plans before next year

• Clorox Co (CLX) shares fall; Q3 adj EPS $1.64 vs. est. $1.55 on in-line revs of $1.67B; expects annual net sales to fall 6%, compared with its earlier forecast of a 6% to 10% decline while cuts FY26 adjusted EPS view to $5.45-$5.65 from $5.95-$6.30 (est. $5.86) hurt by weaker demand for its cleaning products; said expects its annual gross margin to fall by 250 to 300 basis points.
• Estee Lauder (EL) Q3 adjusted EPS $0.91 vs. est. $0.65; Q3 revs $3.71B vs. est. $3.69B; raises FY26 adjusted EPS view to $2.35-$2.45 from $2.03-$2.23 (est. $2.22) and guides FY26 organic net sales growth of approximately 3%, at the high-end of its prior range, vs. consensus $14.97B; revised its job cut target to a range of 9,000 to 10,000 from the previously estimated range of 5,800 to 7,000.
• Floor & Décor Holdings (FND) Q1 EPS $0.37 vs est $0.42 on sales $1.152B vs est $1.19B, comps -3.7%; guides FY comps -4% to 0, sees FY EPS $1.83-2.08 vs est $2.06.
• Imax Corp. (IMAX) Q1 adj EPS $0.17 vs. est. $0.15; Q1 revs fell -6% y/y to $81.4M vs. est $79.9M; Revenue decline driven by lower China box office, offset by strong growth elsewhere; reaffirms 2026 full-year global box office guidance of $1.4B and said expects strong box office performance from upcoming releases including The Odyssey, Dune: Part Three, and Narnia.
• Mohawk Industries (MHK) Q1 adj EPS $1.90 vs est $1.81 on revs $2.7B vs est $2.735B; guides Q2 adj EPS $2.50-2.60 vs est $2.75; says implementing price increases across many product categories and geographies and more may be required; will not seem full impact of pricing actions and rising input costs until Q3
• Rivian Corp. (RIVN) Q1 EPS loss (-$0.33) vs. est. loss (-$0.60); Q1 revs $1.38B vs. est.$1.37B; Increased Georgia plant initial production capacity to 300,000 vehicles annually; expects first advance on $4.5B DOE loan in early 2027; Robotaxi partnership with Uber to deploy up to 50,000 fully autonomous robotaxis; sees FY26 adjusted EBITDA ($2.1B)-($1.8B) and sees FY26 vehicles delivered 62,000 - 67,000.

• DMC Global (BOOM) Q1 EPS loss (-$0.28) vs. est. loss (-$0.32); Q1 revs $135.6M vs. est. $134.1M; sees Q2 revenue $148M-$158M, consensus $144.85M, with adjusted EBITDA attributable to DMC anticipated in a range of $6M-$8M.
• Exxon Mobil (XOM) Q1 adj EPS $1.16 v. et. $0.96 and revenue $85.138B vs. est. $82.18B; unadjusted profit dropped to its lowest level in five years due to disrupted shipments from the U.S.-Israeli war on Iran; About 20% of Exxon's oil and gas production is located in the Middle East; Q1 free cash flow was $2.7 billion during the first quarter, down from $8.8 billion in the year-ago period.
• First Solar (FSLR) Q1 EPS $3.22 vs. est. $2.98; Q1 revs rose 24% y/y to $1.04B vs. est. $1.05B; Q1 adj Ebitda $520M; Contracted sales backlog of 47.9 GW as of March 31, 2026; sees Q2 module sales 3.4-4.0 GW, section 45x tax credits $330M-$400M, adj ebitda $400M-$500M.

• LendingTree (TREE) Q1 EPS $1.22 vs. est. $1.47; Q1 revs rose 37% y/y to $327.3M vs. est. $321.7M; Q1 adj Ebitda +71% y/y to $42M; raised full-year 2026 revenue and adjusted EBITDA outlooks as revs to $1.3-$1.35B from $1.275-$1.33B and sees 2026 adj EBITDA at $152-$162M, up from $150-$160M prior.

• Ardelyx Inc. (ARDX) Q1 EPS loss (-$0.15) vs. est. loss (-$0.14); Q1 revenue $94.47M vs. consensus $92.61M; Q1 total product revenue +38% YoY to $93.4M, IBSRELA revenue +58% y/y to $70.1M; reiterated 2026 guidance for IBSRELA $410–$430M and XPHOZAH $110–120M; phase 3 ACCEL dosing started.
• Bio-Rad Labs (BIO) Q1 EPS $1.89 vs. consensus $1.99; Q1 revs $592.1M vs. $588.86M; generated strong operating cash flow, $78 million in free cash flow, and repurchased approximately 176 thousand shares.
• Dexcom (DXCM) Q1 adj EPS $0.56 vs est $0.47 on revs $1.192B vs est $1.175B; affirms FY revs guide $5.16-5.25B vs est $5.23B.
• Illumina Corp.(ILMN) board authorizes additional $1.5B in share repurchases; Q1 adj EPS $1.15 vs est $1.05 on revs $1.091B vs est $1.073B, adj EBIT mgn 21.9%, adj gr mgn 68.2%; guides FY revs $4.52-4.62B vs est $4.53B and adj EPS $5.15-5030 vs est $5.12.
• Moderna (MRNA) Q1 revs $389M above $281M y/y and above est. $228M; International revenue came in at $311 million, versus $78 million in U.S. markets; reiterated its 2026 forecast for revenue growth of up to 10% compared with a year ago, with roughly half of its revenue coming from the U.S., down from 62% last year.
• ResMed Corp. (RMD) Q3 EPS $2.86, tops consensus $2.80 and revs rose 11% y/y to $1.4B vs. est. $1.42B; said revenue growth was driven by increased demand for sleep devices, masks and accessories; Gross margin rose 290 bps, primarily due to component cost improvements and manufacturing and logistics efficiencies; reit outlook.
• Stryker Corp. (SYK) Q1 adj EPS $2.60 vs. est. $2.98 and revs $6B vs. est. $6.33B; Q1 Organic net sales rose 2.4%, driven mainly by a 2.1% increase in unit volume; maintains FY26 adjusted EPS outlook of $14.90-$15.10, vs. consensus $14.96 and also keeps FY26 guidance of organic net sales growth in the range of 8.0%-9.5%.
• Summitt Therapeutics (SMMT) shares tumbled after ivo HARMONi-3 update on squamous subgroup interim PFS analysis:  "At this early interim PFS analysis reviewed exclusively by the Independent Data Monitoring Committee (iDMC), the iDMC recommended that the study continue as planned."
• Veeva Systems (VEEV) will replace Coterra Energy Inc. (CTRA) in the S&P 500 effective prior to the opening of trading on Thursday, May 7. S&P 500 constituent Devon Energy Corp. (DVN) is acquiring Coterra Energy in a deal expected to close soon, pending final closing conditions.

• Huntsman Corp. (HUN) Q1 adj EPS ($0.20) vs est ($0.20) on revs $1.42B vs est $1.39B.
• MasTec Inc. (MTZ) Q1 adj EPS $1.39 vs est $0.99 on revs $3.83B vs est $3.47B, record 18-month backlog of $20.3B; raised FY adj EPS guide to $8.79 vs est $8.51.
• SpaceX has spent more than $15 billion developing its next-generation Starship rocket, according to the company’s IPO registration reviewed by Reuters, a sum that dwarfs the cost of its workhorse Falcon rocket.
• Weyerhaeuser (WY) Q1 adj EPS $0.11 vs est $0.05 on sales $1.73B vs est $1.72B; says timberlands Q2 earnings before items and adj EBITDA will be comparable to Q1, encouraged by recent increase in lumber pricing.

• Atlassian (TEAM) Q3 adj EPS $1.75 vs est $1.32 on revs $1.79B vs est $1.693B; guides Q4 revs $1.653-1.661B vs est $1.659B, Cloud revs approx +25.5%, gr mgn 85.5% and adj EBIT mgn approx 30.5%; sees FY revs approx +24% vs est +22.56%, Cloud revs approx +26.5%, adj gr mgn approx 88% and adj EBIT mgn approx 29.0%.
• AXT Inc. (AXTI) Q1 adj EPS loss (-$0.01) vs. est. loss (-$0.05); Q1 revs $26.9M vs. est. $26.22M; Q1 gross margin 29.9%; sees Q2 EPS $0.06-$0.08 vs. consensus loss (1c) and Q2 revenue up sequentially.
• Five9 Inc. (FIVN) Q1 adj EPS $0.76 vs est $0.68 on revs $305.3Mm vs est $299.9Mm; guides Q2 sales $303-309Mm vs est $305.26Mm and adj EPS $0.65-0.69 vs est $0.74.
• Ingram Micro (INGM) Q1 adj EPS $0.75 vs est $0.72 on revs $14B vs est $12.765B; guides Q2 sales $13.6-14.0B vs est $13.1B and adj EPS $0.68-0.78 vs est $0.72
• Monolithic Power (MPWR) Q1 adj EPS $5.10 vs est $4.90 on revs $804.2Mm vs est $781.3Mm, adj gr mgn 55.5%; guides Q2 revs $890-910Mm vs est $817.1Mm, adj gr mgn 55.3-55.9%.
• Riot Platforms (RIOT) Q1 revenue rose to $167.2M vs. est. $131M and reported first quarter of data center revenue at $33.2M; did not provide specific financial guidance for future quarters or the full year; Bitcoin mining revenue fell y/y, primarily due to lower average bitcoin prices and increased global network hash rate, partially offset by higher operating hash rate.
• Roblox Corp. (RBLX) Q1 EPS loss (-$0.35) vs. est. loss (-$0.40); Q1 revs $1.7B vs. est. $1.75B; Q2 bookings seen between $1.55B-$1.61B, below estimates of $1.83B; slashes FY26 bookings view to $7.33B-$7.6B from prior view of $8.28B-$8.55B; now sees a sequential decline in daily active users (DAU) in Q2 after Q1 DAUs stood at 132 million, up 35% from a year ago.
• SanDisk (SNDK) Q3 EPS $23.41 crushes consensus $14.66 and revs $5.95B vs. consensus $4.73B; Q3 adj net income $3.67B vs. est. $2.23B; Q3 adj operating income $4.21B vs. est. $2.7B; Q3 adj gross margin 78.4%; sees Q4 EPS $30.00-$33.00, vs, consensus $23.18 and revs $7.75B-$8.25B vs. est. $6.56B.
• Twilio (TWLO) Q1 adj EPS $1.50 vs est $1.27 on revs $1.407B vs est $1.342B; guides Q2 revs $1.42-1.43B vs est $1.39B and adj EPS $1.27-1.32 vs est $1.29; sees FY reported revs +14-15% and adj EBIT $1.08-1.1B.
• Western Digital (WDC) Q3 adj EPS $2.72 vs est $2.39 on revs $3.337B vs est $3.245B, gr mgn 50.2%; guides Q4 revs $3.55-3.75B, adj gr mgn 51-52% and adj EPS $3.25 at midpoint.
• Zeta Global (ZETA) Q1 revs $396.3Mm vs est $370.4Mm; guides FY revs $1.79B midpoint vs est $1.757B and adj EBITDA $396.2-398.4Mm vs est $391.1Mm.

• Roku Inc. (ROKU) shares rise; Q1 revs $1.25B vs. est. $1.2B; raised its annual platform revenue forecast to $5 billion, compared with its prior projection of $4.89 billion; said expect new partnerships to begin contributing to Roku tv model unit volume in H2 2026.
• Paramount Skydance (PSKY) Double Upgrade to Overweight at Morgan Stanley saying the proposed acquisition of WBD is a big, bold and game-changing move that positions the proforma entity with some of the best IP in the world (GoT, LoR, Potter, DC) and a tech forward approach. The firm said they see three underappreciated elements of the story: 1) a belief that Ai has the potential to unlock significant cost savings, increase revenue across advertising (like Precision+) and rejuvenate storied IP, 2) confidence in achieving $6B+ of synergies (~11% of Opex) given significant redundancies along with strong cash flow Generation (path to $8B+ in 2030) to de-lever to ~3-4x net debt to adj EBITDA within 3 years (from 6-7x at deal close), and 3) a clear mix shift to faster growing Streaming & Studio assets, where linear drops below 50% of EBITDA in 2028 and to ~30% by 2030

Mid-Morning Look

Friday, May 01, 2026

U.S. stocks are extending gains on the first day of the month, adding to incredible returns for US averages in April as earnings results and guidance continue to be the key driver for investors, overlooking rocket high oil prices and surging inflation readings the last few days, leading to lower chances of any interest rates cuts by the Fed (while keeping potential hikes as a possibility). The market stimulus coming from Hyperscalers by raising capex this week (AMZN, META, GOOGL, MSFT), keeping the Ai growth case strong (and related tech sub sectors). Overnight, Apple (AAPL) reported a big beat and strong revenue guidance that is lifting shares and helping broader market overall. Software (IGV) playing catchup in tech, led higher by good results overnight from TWLO, TEAM, FIVN as semis still (SOX +38% in April) the market leader. Industrials have been area of strength with CAT jumping 10% yesterday alone on results as investors look to power story among industrials (ETN, GNRC, etc.). Energy (XLE) remains the YTD S&P sector leader up 31% the first four months as oil prices remain around 4-year highs as the U.S/Iran war continues with no n-t resolution. Only Financials (XLF -4%) and Healthcare (XLV -5.5%) are down on the year in the S&P 500, with double digit gains for Tech, utilities, REITs, Materials and Industrials.

Inflation concerns (that’s markets are overlooking right now) include higher energy prices as @chaliebilello noted on X, “Gas prices in the US have moved up to $4.39 per gallon, their highest level since July 2022. The 47% spike over the last 9 weeks ($2.98/gallon to $4.39/gallon) is the biggest we've seen in the past 30 years." Also today, the price paid component of the ISM Manufacturing report came in at 84.6, the highest since April 2022, which comes a day after the March year-over year PCE price index +3.5% (consensus +3.5%) vs Feb +2.8% (prev +2.8%); core +3.2% (consensus +3.2%) vs Feb +3.0% (prev +3.0%).

Market optimism this morning after Apple (AAPL) results helped boost shares and tech space along with news Iran sent a new proposal for talks with the US via mediator Pakistan, state media said, without disclosing details. The two sides have held only one round of negotiations amid a fragile ceasefire after nearly 40 days of war starting February 28. Talks stalled as the US imposed a naval blockade and Iran restricted traffic through the Strait of Hormuz. Foreign Minister Abbas Araghchi also consulted regional counterparts on initiatives to end the conflict. Oil prices fell 2% on the report.

Meanwhile April was an incredible month of returns for US markets. the S&P 500 gained 10.42%, the Nasdaq climbed 15.29% (helped by a 38% spike in the semi SOX index), and the Dow climbed 7.14%. Dow industrials record biggest monthly% gain since November 2024, the S&P 500 registers biggest monthly% gain since November 2020 and Nasdaq records biggest monthly% gain since April 2020. The Russell 2000 climbed more than 12%, also its best month since November 2020. The Technology Select Sector (XLK) gained 20%, its best month since October 2002.

• Insurance: RYAN downgraded from Overweight to Equal Weight at Wells Fargo given weaker organic growth that is expected to persist in the near term, with high-single digit organic for the year (4-6% range) and 0% in Q2 as well as margin compression; WTW was upgraded to Outperform at BMO Capital following the -12% move on April 29 on a challenging quarter that it doesn't see as indicative of a trend. On its call, management pointed to seeing a recovery in April, as well as several other factors that suggest a bounce back. AIG Q1 adjusted EPS $2.11, tops consensus $1.88; Q1 net premiums written rose 24% y/y to $5.6B; Q1 adj after-tax income per share up 80% y/y driven by higher underwriting income.
• Software movers: nice bounce for the sector (IGV) after TEAM share rise on results as raised annual revenue growth forecast to about 24% from prior expectations of 22% and reports Q3 revenue of $1.79B topping consensus of $1.69B and Jefferies noted Cloud/total rev +29/32% beat bogeys at 26/28% and RPO grew 37% and 34% OPM is a record high; TWLO reported strong Q1 results with top and bottom-line beat, with key growth metric, gross profit Dollar growth accelerating to +16% Y/y from 10% in Q425, and was well above Street at +10.3% and revenue grew 20% Y/Y (16% organic) to $1.41B, the fastest reported and organic growth in more than three years. FIVN reported 9% rev growth and a modest beat that was greater than past 2 qtrs./sub rev growth up to 13% and Ai revs accelerated to 68% Y/Y with solid ARR. EBIDTA margins expanded 560 bps Y/Y to 24.4%.

• AXTI +11%; after smaller Q1 loss and beat on revs $26.9M vs. est. $26.2M saying strong demand for indium phosphide substrates is driving capacity expansion and highlights ongoing capacity planning discussions with customers and supply chain partners.
• ESPR +57%; to be taken private by investment firm Archimed for up to $1.1 billion as ESPR shareholders will receive $3.16 in cash for each share, representing a premium of about 58% to co's last close.
• FIVN +19%; reported 9% rev growth and a modest beat that was greater than past 2 qtrs./sub rev growth up to 13% and Ai revs accelerated to 68% Y/Y with solid ARR. EBIDTA margins expanded 560 bps Y/Y to 24.4%.
• PSKY +6%; was upgraded at Overweight from Underweight at Morgan Stanley in assumption of coverage with $14 tgt saying pessimism presents an opportunity as the Warner deal is transformative and AI can turbocharge legacy assets, as sees a clear synergy and de-levering path.
• RDDT +11%; as reported Q1 revenue/EBITDA 9%/19% ahead of consensus and advertising revenue +74% Y/y, holding a similar 2yr stack (+181% 2yr. Y/y) vs Q4:25 (+180%); Q1 US DAU +1M q/q & Q2 revs guided 2% ahead; Q1 revenue of $663M grew 69% Y/y, which exceeded bogey estimates of 64% Y/y.
• RIOT +9%; shares rose after results as Q1 revenue rose to $167.2M vs. est. $131M and reported first quarter of data center revenue at $33.2M.
• TEAM +19%; after raised annual revenue growth forecast to about 24% from prior expectations of 22% and reports Q3 revenue of $1.79B topping consensus of $1.69B.
• TWLO +20%; reported strong Q1 results with top and bottom-line beat, with key growth metric, gross profit Dollar growth accelerating to +16% Y/y from 10% in Q4 and was well above Street at +10.3% and revenue grew 20% Y/Y (16% organic) to $1.41B, the fastest reported and organic growth in more than three years.
• VEEV +10%; will replace CTRA in the S&P 500 effective prior to the opening of trading on Thursday, May 7. S&P 500 constituent DVN is acquiring Coterra Energy in a deal expected to close soon, pending final conditions.

• RBLX -15%; shares tumbled as bookings were down 22.8% in Q1 and guided to decline a further ~8.7% in Q2; slashes FY26 bookings view to $7.33B-$7.6B from prior view of $8.28B-$8.55B; now sees a sequential decline in daily active users (DAU) in Q2 after Q1 DAUs stood at 132M, up 35% from a year ago
• RIVN -5%; reported EPS of $(0.33) vs. est. loss (-$0.60); Q1 revs $1.38B vs. est.$1.37B driven by continued strength in Software & Services, while Consolidated gross profit remained positive at $119M. 2026 delivery guidance (62k–67k) and CAPEX guidance ($1.95–$2.05B) were reaffirmed, with adj. EBITDA guidance unchanged
• SMMT -28%; after the co noted the PFS interim analysis for the squamous cohort of HARMONi-3 occurred, and the trial is continuing as previously planned to final PFS analysis (expected in 2H'26); shares fall as likely implies the trial did not hit stat-sig at this first interim and SMMT may not meet with FDA to accelerate timelines.
• TREE -17%; after earnings miss as Q1 EPS $1.22 vs. est. $1.47; Q1 revs rose 37% y/y to $327.3M vs. est. $321.7M; raised its ’26E EBITDA by 1% to $152–162M on strong Insurance results, while assuming near-term softness in Consumer/Home from geopolitical pressure on gas prices and rates

Closing Recap

Friday, May 01, 2026

The S&P 500 and Nasdaq extended gains, setting new all-time highs into the weekend, rising for a 5^th consecutive week (after falling 5 straight weeks prior to that) as earnings growth, capex spending, better quarterly results at this point are overshadowing (in the eyes of traders) $100 oil prices, gasoline prices at pump highest in 4-years, rising inflation data (PCE, Prices Paid ISM), bets of interest rate cuts by the Fed off the table (hikes a greater chance in future), uncertainty between Iran/US conflict at commodity supply chains remain disrupted due to Strait of Hormuz closure. For the week, the S&P 500 climbed 0.9%, the Dow climbed 0.5% and the Nasdaq climbed 1.1%.

Market optimism this morning after Apple (AAPL) results helped boost shares and tech space along with news Iran sent a new proposal for talks with the US via mediator Pakistan, state media said, without disclosing details. The two sides have held only one round of negotiations amid a fragile ceasefire after nearly 40 days of war starting February 28. Talks stalled as the US imposed a naval blockade and Iran restricted traffic through the Strait of Hormuz. President Trump, responding to the new proposal by Iran, said “we're negotiating by phone; not sure we're going to get to a deal and didn’t like the deal.” In other macro/trade news, President Trump said he “would be increasing tariffs on cars and trucks from the European Union to 25% (from 15%). He noted many Automobile and Truck Plants are currently under construction, with over 100B Dollars being invested.”

April was an incredible month of returns for US markets. the S&P 500 gained 10.42%, the Nasdaq climbed 15.29% (helped by a 38% spike in the semi SOX index), and the Dow climbed 7.14%. Dow industrials record biggest monthly% gain since November 2024, the S&P 500 registers biggest monthly% gain since November 2020 and Nasdaq records biggest monthly% gain since April 2020. The Russell 2000 climbed more than 12%, also its best month since November 2020. The Technology Select Sector (XLK) gained 20%, its best month since October 2002.

After 42% of the S&P 500 reported this week, next week 24% of the SPX will report, led by TMT, H/C, & Industrials.          Key Companies Scheduled: ABNB, ADM, AMD, APP, COIN, DDOG, DIS, DVN, EXPE, FANG, GILD, HSIC, HST, J, JCI, KHC, KVUE, LYV, MAR, MCD, NCLH, OXY, PFE, PSKY, PYPL, SATS, SWKS, TKO, UBER, VRTX, WBD, WMB, WYNN & ZTS. After today, of the 317 S&P 500 companies that have reported thus far vs 349 LY (fiscal qtr ending Feb-Apr, per Reuters): 86% beat vs 77% LY and the avg beat 21% vs 23% LY, avg miss -6% vs -13% LY, while avg yr/yr earnings growth 24% vs 11% LY.

• U.S. Natural gas futures edged up about 1% to a fresh three-week high; Front-month gas futures for June delivery rose 0.5%, to settle at $2.780 per million British thermal units (mmBtu). For the week, the front-month climbed about 10% after falling about 6% last week.
• June gold settles +$14.90/oz, or +0.32%, at $4,644.50 while May silver settles +$2.40/oz, or +3.25%, at $76.43. Both metals finish lower for the second straight week, with gold down 2% and silver off 0.6%. Gold and silver caught an updraft later in the week after Fed's decision to keep rates steady.
• Charlie Bilello tweets: "Gas prices in the US have moved up to $4.39 per gallon, their highest level since July 2022. The 47% spike over the last 9 weeks ($2.98/gallon to $4.39/gallon) is the biggest we've seen in the past 30 years."
• The CBOE Volatility index (VIX) fell to 2 month lows today of 16.44.
• The 2-year note yield dipped 3.884% while the yield on benchmark U.S. 10-year note fell 1.6 basis points to 4.374%. Very little action on the day

• In Beauty: EL shares rise as Q3 adj EPS $0.91 tops est. $0.65; Q3 revs $3.71B vs. est. $3.69B; raises FY26 adjusted EPS view to $2.35-$2.45 from $2.03-$2.23 (est. $2.22) and guides FY26 organic net sales growth of approximately 3%, at the high-end of its prior range, vs. consensus $14.97B; revised its job cut target to a range of 9,000 to 10,000 from the previously estimated range of 5,800 to 7,000. ELF was downgraded to Equal Weight at Morgan Stanley (tgt to $67 from $80) saying the company's market share losses in its core cosmetics business are concerning and poised to worsen as the summer of 2025 pricing cycles.
• In Food sector: HSY was upgraded from Hold to Buy at TDCowen on increased confidence that the company will raise 2026 guidance and return to volume growth in 2027/views retail sales growth acceleration in May-June from distribution gains, aggressive merchandising, and innovation as a near-term catalyst for the stock. PPC was upgraded to Overweight at Barclay’s saying while Q1 was softer than expected due to one-time plant shutdowns and adverse weather, and FCF generation remains strong despite higher CAPEX and declining profits.
• Home Service Retailers: FND reported Q1 EPS of $0.37, missing Street ests of $0.43 as comps (-3.7%) was pressured by elevated rates, low Consumer Confidence, and adverse weather (150-200bp headwind), while the QTD comp is down (-4.5%) given weak EHS and as FND laps its high point of comp last year.

• Casinos & Gaming: Macau's gross gaming revenue (GGR) for April 2026 was MOP 19.9 billion (about US$2.47 billion). This represents a +5.5% year-on-year increase from April 2025, but it was -12.0% month-on-month from March 2026 (MOP 22.61 billion / US$2.80 billion). First 4 months of 2026: GGR totaled MOP 85.8 billion (US$10.6 billion), up +12.1% year-on-year (names levered to Macau WYNN, LVS, MGM, MLCO). March Las Vegas Strip GGR rose +14% Y/Y (Q1: +1%), largely on higher Bacc/Table hold. Norm/Ex-Bacc win was solid but a lower at +3%/+7% Y/Y (Q1: +3%/flat), per Truist.

• Oil Services: BKR said its weekly oil drilling rig count up 1 at 408 (down 64 vs year ago) in week to May 1 as Nat gas drilling rig count up 1 at 130 in week. North Dakota rigs unchanged; Pennsylvania unchanged; Texas +4.
• In Solar: FSLR delivered 1Q results relatively in line with expectations, with gross margin expansion on higher U.S. mix, normalized freight, and lower warehousing cost and management reaffirmed FY26 guidance

• Consumer Lending: TREE shares fell as Q1 EPS $1.22 missed est. $1.47; Q1 revs rose 37% y/y to $327.3M vs. est. $321.7M though raised its ’26E EBITDA by 1% to $152–162M on strong Insurance results, while assuming near-term softness in Consumer/Home from geopolitical pressure on gas prices and rates

• CUBE reported 1Q FFO of $0.63, in line with consensus and at the high end of management’s quarterly guidance. Notably, SSREV growth turned positive for the first time since 2Q24, though elevated expenses pressured SSNOI growth modestly vs. last quarter. Management reaffirmed FY26 guidance.
• DRH reported a 1Q adj. EBITDA/FFO beat and increased 2026 adj. EBITDA guidance by 2.5% at the midpoint to largely reflect the 1Q beat. RevPAR increased 2% y/y in 1Q and exceeded management’s expectation, which led to a 50 bps increase to RevPAR growth guidance to 2.5% at the midpoint.
• HR 1Q26 NFFO beat consensus, and management bumped 2026 NFFO guidance by nearly 1%. While new leasing moderated again this quarter, cash leasing spreads increased and retention was strong. Cash SSNOI growth accelerated to ~7% this quarter and management increased 2026 SSNOI growth guidance to 4.25%.
• INN reported a 1Q adj. EBITDA/FFO beat and increased adj. EBITDA guidance by 0.9% at the midpoint. Notably, 1Q RevPAR growth (+0.2%) exceeded management’s expectation by over 200 bps.
• LXP posted a modest 1Q26 FFO miss, but underlying results were steady, with SSNOI growth of 2.0% in line with expectations and ~16% rent change on YTD lease signings.
• SKT posted a 1Q26 Core FFO beat vs. consensus, driven by higher lease termination fee income, and raised FY26 guidance ~0.4% at the midpoint. Occupancy declined 110bps sequentially, while SSNOI growth of 2.6% was pressured by elevated snow removal costs.

• AMGN delivered strong 1Q results, showcased by top- and bottom-line beats vs. consensus estimates alongside modest increases in FY26 guidance; shares fell on tax litigation concerns.
• ARVN shares rose after the FDA approved its cancer breast drug with PFE; The drug, branded Veppanu, is approved for certain advanced breast cancer patients
• BIO shares slumped after lowing guidance post earnings saying now expects 2026 revenue to range from a decline of nearly 3% to growth of 0.5%, compared with its prior forecast of 0.5% to 1.5% growth
• ESPR to be taken private by investment firm Archimed for up to $1.1 billion as ESPR shareholders will receive $3.16 in cash for each share, representing a premium of about 58% to co's last close.
• MRNA Q1 revs $389M above $281M Y/y and above est. $228M; International revenue came in at $311M, versus $78M in U.S. markets; reiterated its 2026 forecast for revenue growth of up to 10% compared with a year ago, with roughly half of its revenue coming from the U.S., down from 62% last year; Q2 was weaker.
• SMMT shares fell after the co noted the PFS interim analysis for the squamous cohort of HARMONi-3 occurred, and the trial is continuing as previously planned to final PFS analysis (expected in 2H'26); shares fall as likely implies the trial did not hit stat-sig at this first interim and SMMT may not meet with FDA to accelerate timelines.

• Insulin sector: DXCM reported a slightly better than expected revenue, but the more important metric was significantly better-than-expected adjusted GM, which drove significantly higher adjusted OMs and adjusted EBITDA. Guidance was raised, but to reflect only the Q1 results.
• Ortho sector: SYK posted a Q1 earnings miss while organic sales growth slowed to 2.4% from 11.0% in Q4 due to the cyber incident that Stryker had previously disclosed but now expects the company to continue to benefit from healthy procedure growth, robust hospital capital spending, and numerous new product launches.

• In Airlines: The WSJ reported this morning that Spirit Airlines (FLYYQ) is preparing to cease operations. The ailing budget airline had been hoping to finalize a $500 million lifeline from the government before running out of cash, but said the carrier hasn't been able to get sufficient support between certain bondholders and the government to secure the funding to keep it in business, (shares of JBLU, ULCC jumped on the headlines)>
• In Industrials: CAT was upgraded to Equal Weight from Underweight at Morgan Stanley and raise tgt to $915 from $430 after Caterpillar reported a strong Q126 beat driven largely by much stronger results than anticipated in the company's Construction industries business and raised both its near-term and longer term outlooks.
• In Chemicals: LYB reported better Q2 EPS of $0.49 vs. est. $0.28, while revs of $7.2B fell short of consensus and provided an operational outlook; APD was upgraded to Outperform from MP and raise PT to $360 from $325 at BMO Capital saying the company is no longer a "show me" story after demonstrating an ability to execute on its targets. MEOH was downgraded to Neutral at JP Morgan on valuation, though says thinks the company is likely to more than double its EBITDA from Q1 to Q2 amid higher methanol prices.

• In Media: ROKU reported strong Q1 results that came in better than expected, and Q2 guidance was moderately ahead of its estimates; PSKY was upgraded at Overweight from Underweight at Morgan Stanley in assumption of coverage with $14 tgt saying pessimism presents an opportunity as the Warner deal is transformative and AI can turbocharge legacy assets, as sees a clear synergy and de-levering path. TKO was also upgraded to Overweight at Morgan Stanley saying high visibility with multi-year Media rights deals for the UFC and WWE provide a solid foundation (~80% of revs are contracted), while sees inexpensive call options around partnerships. IMAX delivered revenue of $81M (+2% vs consensus), AEBITDA of $30.5M (-3% vs consensus), and Adj. EPS of $0.17 (+13% vs consensus), with results impacted by a tough China comp and timing rather than underlying demand.
• Social Media: RDDT shares jumped as reported Q1 revenue/EBITDA 9%/19% ahead of consensus and advertising revenue +74% Y/y, holding a similar 2yr stack (+181% 2yr. Y/y) vs Q4:25 (+180%); Q1 US DAU +1M q/q & Q2 revs guided 2% ahead; Q1 revenue of $663M grew 69% Y/y, which exceeded bogey estimates of 64% Y/y.

• Ai Infrastruture: NBIS agreed to acquire inference and optimization startup Eigen AI in a deal valued at about $643M, strengthening its push into production‑grade artificial intelligence and expanding its United States footprint; RIOT shares rose after results as Q1 revenue rose to $167.2M vs. est. $131M and reported first quarter of data center revenue at $33.2M.
• Software movers: nice bounce for the sector (IGV) after TEAM share rise on results as raised annual revenue growth forecast to about 24% from prior expectations of 22% and reports Q3 revenue of $1.79B topping consensus of $1.69B and Jefferies noted Cloud/total rev +29/32% beat bogeys at 26/28% and RPO grew 37% and 34% OPM is a record high; TWLO reported strong Q1 results with top and bottom-line beat, with key growth metric, gross profit Dollar growth accelerating to +16% Y/y from 10% in Q425, and was well above Street at +10.3% and revenue grew 20% Y/Y (16% organic) to $1.41B, the fastest reported and organic growth in more than three years. FIVN reported 9% rev growth and a modest beat that was greater than past 2 qtrs./sub rev growth up to 13% and Ai revs accelerated to 68% Y/Y with solid ARR. EBIDTA margins expanded 560 bps Y/Y to 24.4%.
• Gaming Software: RBLX shares tumbled as bookings were down 22.8% in Q1 and guided to decline a further ~8.7% in Q2; slashes FY26 bookings view to $7.33B-$7.6B from prior view of $8.28B-$8.55B; now sees a sequential decline in daily active users (DAU) in Q2 after Q1 DAUs stood at 132M, up 35% from a year ago
• In Internet: GDDY reported ex-Fx bookings growth (+2%) a ~point below expectations (+3%), reflecting the impact from the new GTM strategy, .CO termination, and tough Aftermarket comps while management reaffirmed FY26 growth (+6%) and profitability per Oppenheimer.
• AI Networking sector: Redburn initiated LITE ($1,270 PT), CLS ($460 PT), CRDO ($206 PT), COHR ($455 PT) Initiate with Buys and with Neutrals on CIEN ($416 PT), ALAB ($153 PT) saying the monetization of Generative Ai (GenAI) CAPEX will require more Intelligent large language models. Model Intelligence stems, in part, from the rate at which information is exchanged between chips. But the rate of this information exchange – Bandwidth – is constrained by the copper interconnects that have historically fused Parts of the datacenter together.

• AXTI shares jumped initially after smaller Q1 loss and beat on revs $26.9M vs. est. $26.2M saying strong demand for indium phosphide substrates is driving capacity expansion and highlights ongoing capacity planning discussions with customers and supply chain partners.
• MPWR reported strong Q1 results and Q2 guidance, which meaningfully exceeded expectations as strength was seen broadly in Data Center across server CPU and Ai, which drove strong growth in Enterprise Data (+98% Y/y) and Communications (+56% Y/y) and boosted its outlook for 2026 ED growth from +50% to +85%.
• SNDK reported a top and bottom line beat that crushed estimates and notably higher guidance and datacenter revenue grew to $1.467B, +233% q/q and now ~25% of revenue, driven almost entirely by high-performance TLC enterprise SSDs; signed five NMB partnerships (3 in FQ326 and 2 already in FQ426); 3 in FQ326 supporting $42B of minimum contract rev backed by >$11B of financial guarantees (shares slipped after massive outperformance).
• WDC delivered another strong qtr, with rev, EPS and GMs all above the high end of guidance and above consensus as gross margins grew 436bps q/q to 50.5% & incremental GMs were 73% Y/y and ~92% q/q; Q4 guide (51-51% GMs) does imply a slower q/q step-up; announced a 4th HAMR qualification customer and the dual-track approach (advancing HAMR & next-gen ePMR) is supportive of near-term profitability.

Street Recommendations

Friday, May 1, 2026

• AAPL Barclays raised the firm's price target on Apple to $253 from $248 and keeps an Underweight rating on the shares. The firm views Apple's fiscal Q2 report as solid. iPhone results were largely in-line with consensus and the Q3 revenue guidance of 14%-17% year-over-year growth is "very strong," the analyst tells investors in a research note. Barclays still sees risk to second half of 2026 estimates and says its needs a better view of Apple's AI monetization strategy.
• TEAM Barclays raised the firm's price target on Atlassian to $106 from $100 and keeps an Overweight rating on the shares post the fiscal Q3 report. The company delivered strong organic cloud growth and traction with its ongoing AI monetization strategy, the analyst tells investors in a research note.
• OWL Barclays analyst Benjamin Budish raised the firm's price target on Blue Owl Capital to $10 from $9 and keeps an Equal Weight rating on the shares post the Q1 report. The company beat earnings estimates on management and transaction fees, the analyst tells investors in a research note. The firm says Blue Owl was optimistic on the outlook of the business.
• BLDR Barclays lowered the firm's price target on Builders FirstSource to $93 from $114 and keeps an Overweight rating on the shares following the earnings report. The company's gross margin is moving lower due to specialty segment pressure from builders de-content, competitive dynamics, and input cost inflation amid a challenged market backdrop, the analyst tells investors in a research note.
• RCL Barclays analyst Brandt Montour lowered the firm's price target on Royal Caribbean to $340 from $351 and keeps an Overweight rating on the shares post the Q1 report. The company's expenses and better than expected fuel outlook offset the "perfect storm year" of one-time yield headwinds, the analyst tells investors in a research note.
• TYL Barclays raised the firm's price target on Tyler Technologies to $420 from $410 and keeps an Overweight rating on the shares. The company's software-as-a-service bookings came in well ahead of estimates, accelerating to 40% year-over-year growth, the analyst tells investors in a research note.
• WDC Barclays analyst Tom O'Malley raised the firm's price target on Western Digital to $450 from $405 and keeps an Overweight rating on the shares following the earnings report. The firm says Western Digital's "predictable" price increases, low-double-digit cost downs, visibility into 2029, and improved margins on mix to UltraSMR "all screen positive."

• WTW BMO Capital upgraded WTW to Outperform from Market Perform with a price target of $300, down from $347. The firm cites the 12% post-earnings selloff for the upgrade. WTW reported a "challenging quarter," but this is not indicative of a trend, the analyst tells investors in a research note. BMO says management is seeing a recovery in April. There are also several other factors that suggest a bounce-back for WTW, adds the firm.

• TWLO BofA analyst Koji Ikeda raised the firm's price target on Twilio to $225 from $190 and keeps a Buy rating on the shares. Twilio reported strong Q1 results with the "key growth metric," gross profit dollar growth, accelerating to 16% year-over-year from 10% in Q4, the analyst tells investors. The firm thinks the results are supportive of its long-term bullish view that Twilio will be "a key infrastructure layer for future AI experiences," the analyst tells investors.
• TRUP BofA lowered the firm's price target on Trupanion to $52 from $59 and keeps a Buy rating on the shares. The firm's 2026 EPS forecast rises with the Q1 beat and lower pet acquisition cost spend, while its 2027 and 2028 EPS come down with lower-than-expected pet count, the analyst tells investors in a post-earnings note.
• MMSI BofA analyst Craig Bijou lowered the firm's price target on Merit Medical to $80 from $100 and keeps a Neutral rating on the shares. While the Q1 beat did not fully flow through, Merit said it typically does not update guidance in Q1, but feels confident and intends to the review guidance at Q2, the analyst tells investors.
• FND BofA lowered the firm's price target on Floor & Decor to $41 from $45 and keeps an Underperform rating on the shares. Near term catalysts to jump start the flooring market remain limited and the firm sees risk estimates can continue to move lower throughout the year, the analyst tells investors after F&D reported Q1 EPS that missed BofA and Street estimates.

• DXCM Canaccord raised the firm's price target on DexCom to $100 from $95 and keeps a Buy rating on the shares. The firm said they reported a slightly better than expected revenue but the more important metric was significantly better-than-expected adjusted GM, which drove significantly higher adjusted OMs and adjusted EBITDA. Guidance was raised, but to reflect only the Q1 results.
• ILMN Canaccord lowered the firm's price target on Illumina to $140 from $150 and keeps a Hold rating on the shares. The firm said the target decrease is driven by reduced revenue in the out years of our 10-year DCF model given increasing competition within high-throughput sequencing. They noted the company reported Q1 results that were ahead of guidance.
• IRTC Canaccord lowered the firm's price target on iRhythm to $180 from $198 and keeps a Buy rating on the shares. The firm said they delivered a solid Q1 with a beat-and-raise. While the guidance range only reflects the Q1 beat, the firm maintaiins the company is making steady progress across its strategic goals. Canaccord believes this is evident by improving operating leverage, signs of increased consistency in its Innovative Channel Partners, and its line of sight for MCT.
• RBLX Canaccord analyst Jason Tilchen lowered the firm's price target on Roblox to $80 from $140 and keeps a Buy rating on the shares. The firm said they reported mixed Q1 results, with user growth well below consensus while bookings were broadly in line with expectations and profitability was ahead of guidance. The company anticipated that user activity would be impacted by the introduction of age verification requirements, although headwinds to engagement with communication features and new user acquisition were greater than expected.
• SYK Canaccord lowered the firm's price target on Stryker to $400 from $435 and keeps a Buy rating on the shares. The firm said they delivered a mixed quarter, with Q1 results coming in below top- and bottom-line expectations due to a cyber incident during the Q that disrupted global operations and delayed shipments and revenue recognition. Importantly, the company emphasized that underlying demand remained healthy across its segments, and it saw the best-ever Q1 for Mako installations both domestically and internationally.

• WDC Citi raised the firm's price target on Western Digital to $500 from $405 and keeps a Buy rating on the shares. The company reported a "beat and raise" quarter on continued AI-based demand, the analyst tells investors in a research note. Citi upped its estimates for Western Digital on its demand and pricing visibility.
• RCL Citi lowered the firm's price target on Royal Caribbean to $348 from $377 and keeps a Buy rating on the shares. The stock rallied despite the yield and earnings guidance cut as Royal said it has "turned the corner," the analyst tells investors in a research note. Citi believes some investors are now reengaging with cruise stocks.
• PH Citi raised the firm's price target on Parker-Hannifin to $1,141 from $1,137 and keeps a Buy rating on the shares. The firm views the post-earnings selloff as overdone. Parker-Hannifin is seeing "robust" orders in its defense and power generation markets, the analyst tells investors in a research note. Citi views the company's increased fiscal 2026 outlook as achievable.
• PWR Citi raised the firm's price target on Quanta Services to $837 from $733 and keeps a Buy rating on the shares. The firm sees increased visibility towards the company's longer-term 20% earnings growth potential following the "strong" quarter and upped 2026 outlook.
• TT Citi raised the firm's price target on Trane to $570 from $525 and keeps a Buy rating on the shares following the earnings report. Trane is seeing a continuation of "robust" demand trends, the analyst tells investors in a research note.
• ALK Citi downgraded Alaska Air to Sell from Buy with a price target of $32, down from $51. The airline is "asymmetrically and unfavorably exposed" to higher fuel prices, the analyst tells investors in a research note. Citi expects consensus estimates to move lower with analysts "uniformly bullish" on the shares. The firm believes Alaska Air will likely need to revisits its greater than $10" earnings per share target for 2027 later this year. The airline's reluctance to cut capacity creates a risky second half of 2026 setup for the stock, contends Citi.

• WWD Deutsche Bank analyst Scott Deuschle raised the firm's price target on Woodward to $470 from $445 and keeps a Buy rating on the shares following the fiscal Q2 report. The firm says "multiple elements" of Woodward's investment case remain
• ICE Deutsche Bank raised the firm's price target on IntercontinentalExchange to $195 from $192 and keeps a Buy rating on the shares. The company reported strong Q1 results and its recurring revenue growth rate continues to improve, the analyst tells investors in a research note.

• UNH Goldman Sachs analysts added UnitedHealth to the firm's US Conviction List as part of is monthly update. Goldman believes the company is nearing the bottom of its underwriting cycle for Medicare Advantage, which presents 40% of its business. The firm has a Buy rating on the shares with a $435 price target.
• ABT Goldman Sachs analysts removed Abbott from the firm's US Conviction List as part of its monthly update.
• KEYS Goldman Sachs analysts removed Keysight Technologies from the firm's US Conviction List as part of its monthly update.

• ROKU Guggenheim raised the firm's price target on Roku to $140 from $130 and keeps a Buy rating on the shares. Q1 results "underscore the increasingly consistent and broad-based nature of Platform growth," says the analyst, who sees the combination of sustained, diversified Platform growth, GAAP profitability, accelerating cash generation, and improving capital discipline supporting a positive outlook.
• W Guggenheim analyst Steven Forbes lowered the firm's price target on Wayfair to $100 from $120 and keeps a Buy rating on the shares. Q1 results were "broadly constructive," says the analyst, who also likes management's "proactive approach to capital structure resolution."
• THC Guggenheim lowered the firm's price target on Tenet Healthcare to $252 from $283 and keeps a Buy rating on the shares. Q1 EBITDA upside "layers another proof-point that THC has the capacity to manage in an uncertain environment," the analyst tells investors in a post-earnings note.
• CMG Guggenheim analyst Gregory Francfort lowered the firm's price target on Chipotle to $35 from $36 and keeps a Neutral rating on the shares. The firm expects Q2 same-store sales growth to step up slightly, which may provide some valuation support, but trims both 2026 and 2027 EPS estimates by about 3% on margins.
• REGN Guggenheim analyst Yatin Suneja raised the firm's price target on Regeneron to $995 from $975 and keeps a Buy rating on the shares after a "strong performance" in Q1. Key upcoming catalysts include fianlimab plus Libtayo Phase 3 data in first-line metastatic melanoma due in Q2, FDA decisions on the Eylea HD pre-filled syringe in Q2 and an FDA decision on cemdisiran in gMG due in Q4, the analyst tells investors.

• COHU Jefferies analyst Kevin Garrigan raised the firm's price target on Cohu to $60 from $55 and keeps a Buy rating on the shares. The company reported a Q1 beat with a Q2 revenue outlook well above expectations on expanding Eclipse momentum and a broadening compute pipeline, the analyst tells investors in a research note. Jefferies believes Cohu's margins should expand over time.
• TWLO Jefferies raised the firm's price target on Twilio to $195 from $160 and keeps a Buy rating on the shares after a Q1 beat on total revenue, gross profit dollars and operating margin. The results "blew past a high bar, signaling that the AI thesis is playing out and showing that the core business is growing durably," the analyst tells investors.
• DTM Jefferies analyst Julien Dumoulin-Smith raised the firm's price target on DT Midstream to $166 from $150 and keeps a Buy rating on the shares. DT delivered a slight Q1 beat and sanctioned two smaller projects, but the "real story" of the Q1 update was extremely positive signaling on MIST commercialization and other potential expansions projects, the analyst tells investors.
• CHKP Jefferies analyst Joseph Gallo lowered the firm's price target on Check Point to $160 from $200 and keeps a Buy rating on the shares. Q1 total revenue missed the mid-point of guidance, driven by go-to-market changes, and Check Point lowered FY26 total revenue guidance, the analyst tells investors. Check Point is "in the penalty box" until GTM changes take hold, which could take time, the analyst added.

• MEOH JPMorgan analyst Jeffrey Zekauskas downgraded Methanex to Neutral from Overweight with a price target of $65, up from $56. The firm believes the company is likely to more than double its EBITDA from Q1 to Q2 amid higher methanol prices. However, JPMorgan finds Methanex fairly valued at current share levels.
• CAT JPMorgan raised the firm's price target on Caterpillar to $1,125 from $860 and keeps an Overweight rating on the shares following the "resounding" Q1 beat. Caterpillar's earnings should more than double by 2030 and the stock's "high-growth valuation here to stay" because its margin outlook remains conservative, the analyst tells investors in a research note.
• RBLX JPMorgan lowered the firm's price target on Roblox to $50 from $75 and keeps a Neutral rating on the shares. The company reported in-line Q1 results but significantly lowered its 2026 bookings guide from 22%-26% to 8%-12%, the analyst tells investors in a research note. The firm says Roblox's facial age verification has been much more disruptive than expected. It reduced estimates post the earnings report.
• ROKU JPMorgan raised the firm's price target on Roku to $150 from $125 and keeps an Overweight rating on the shares. The company reported a "significant" Q1 beat and raised its 2026 outlook, the analyst tells investors in a research note. JPMorgan expects more upward estimate revisions through the year and says Roku remains a top pick.
• CAR JPMorgan analyst Ryan Brinkman lowered the firm's price target on Avis Budget to $140 from $165 and keeps an Underweight rating on the shares. The firm upped its 2026 estimates following the Q1 beat. The reduced price target reflects Avis Budget's reduced "capital markets optionality premium" post the "short-squeeze," the analyst tells investors in a research note.
• PWR JPMorgan raised the firm's price target on Quanta Services to $805 from $627 and keeps an Overweight rating on the shares. The company reported a strong Q1 report, beating across every key metric, the analyst tells investors in a research note. The firm says Quanta's backlog reached a new record and management's tone remains confident.

• ELF Morgan Stanley downgraded Elf Beauty to Equal Weight from Overweight with a price target of $67, down from $80. The company's market share losses in its core cosmetics business are concerning and "poised to worsen" as the summer of 2025 pricing cycles, the analyst tells investors in a research note. The firm believes Elf is seeing "durable pressure" from smaller brands as the cosmetics category fragments. As a result, Elf's compressed valuation looks "reasonable" even after stock's underperformance, contends Morgan Stanley.
• AAPL Morgan Stanley raised the firm's price target on Apple to $330 from $315 and keeps an Overweight rating on the shares. The stock in premarket trading is up 3%, or $8.80, to $280.15. The company reported a "clean" fiscal Q2 report with a "remarkable" Q3 margin outlook, the analyst tells investors in a research note. Morgan Stanley is now more confident in Apple's ability to mitigate record cost inflation. The company is in a product cycle with "upside optionality" from its developer
• TM Morgan Stanley analyst Hiroto Segawa resumed coverage of Toyota with an Equal Weight rating and 3,200 yen price target. The Middle East situation is a risk, but the firm expects mix improvement driven by a higher hybrid electric vehicle ratio, says the analyst, who adds that the firm's Equal Weight rating "has a positive bias."
• RBLX Morgan Stanley analyst Matthew Cost lowered the firm's price target on Roblox to $62 from $140 and keeps an Overweight rating on the shares. Q1 results came in better than expected, but the age verification system is creating headwinds and the company cut its FY26 EBITDA guidance by 15%, the analyst tells investors. However, fixes are on the way and "strength beneath the surface could create greater room for revisions ahead," the analyst added.

• LFUS Needham analyst David Williams initiated coverage of Littelfuse with a Buy rating and $450 price target. The firm believes the company is entering a period of accelerating growth. There are early signs of a cyclical recovery and Littelfuse should see incremental earnings power from the recent Basler acquisition, the analyst tells investors in a research note. Needham believes the company's bookings are accelerating, visibility is improving, and its margin trajectory is strengthening.
• TWLO Needham analyst Joshua Reilly raised the firm's price target on Twilio to $200 from $145 and keeps a Buy rating on the shares. The company reported a very strong Q1, consistent with expectations, and while the firm's recent industry conversations highlighted that messaging is accelerating off a very strong start, Twilio proved that with 18% organic messaging growth in Q1 following 16% organic messaging growth in 2025, the analyst tells investors in a research note.
• SPSC Needham lowered the firm's price target on SPS Commerce to $75 from $110 and keeps a Buy rating on the shares. The company missed consensus revenue estimates and lowered the FY26 revenue guide as weakness in the third party revenue recovery business once again hurt overall results, the analyst tells investors in a research note.
• BR Needham lowered the firm's price target on Broadridge to $230 from $255 and keeps a Buy rating on the shares. The company reported Q2 results that beat estimates, driven by solid organic growth in recent M&A, but the closed sales outlook was lowered, which is expected to weigh on near-term investor sentiment, the analyst tells investors in a research note.
• COHU Needham raised the firm's price target on Cohu to $54 from $33 and keeps a Buy rating on the shares. The company reported strong results, with the quarter showing that in addition to high-performance compute growth, general industrial demand seems to be recovering, the analyst tells investors in a research note.
• W Needham lowered the firm's price target on Wayfair to $83 from $125 and keeps a Buy rating on the shares. The company reported better-than-expected Q1 results but the firm is also cutting its adjusted EBITDA estimates for 2026 by 5% as it accounts more intently for the expected difficult second-half comparisons, the analyst tells investors in a research note.
• ROKU Needham analyst Laura Martin raised the firm's price target on Roku to $140 from $110 and keeps a Buy rating on the shares. The company reported strong Q1 results as total revenue growth of 22% exceeded the firm's estimate, the analyst tells investors in a research note. Roku's installed base of over 100 million streaming households makes it the largest gatekeeper for TV modernization, the firm added.
• RBLX Needham lowered the firm's price target on Roblox to $60 from $105 and keeps a Buy rating on the shares after its Q1 results and guidance, noting that the stock is facing "peak uncertainty". Roblox is navigating difficult comparisons against 2025 without a new viral hit and age verification is negatively impacting communication and materially increasing developer expenditure for bookings coming from users over 18, the analyst tells investors in a research note.
• OLED Needham analyst James Ricchiuti lowered the firm's price target on Universal Display to $120 from $145 and keeps a Buy rating on the shares after its Q1 earnings miss and guidance cut. Needham adds, however, that it still sees an attractive risk/reward opportunity at current levels based on the scaling of new 8.6 Gen capacity in the second half, a major new foldable launch from Apple in the second half of this year, and potential for recovery in smartphone demand next year, the analyst tells investors in a research note.
• PLXS Needham analyst James Ricchiuti raised the firm's price target on Plexus to $285 from $206 and keeps a Buy rating on the shares. The company reported strong Q2 results and a solid upside to Q3 guidance as demand continues to strengthen, the analyst tells investors in a research note. Needham adds that Plexus is executing well, with five consecutive quarters of sequential growth, pointing to a clearly accelerating trajectory.
• IRTC Needham raised the firm's price target on iRhythm to $255 from $254 and keeps a Buy rating on the shares after its Q1 earnings beat. The company continues to see strong demand across the core business with building contribution from new channel initiatives helping drive solid margin improvement throughout the P&L, the analyst tells investors in a research note.
• SYK Needham lowered the firm's price target on Stryker to $418 from $454 and keeps a Buy rating on the shares after its Q1 earnings miss. Organic sales growth slowed to 2.4% from 11.0% in Q4 due to the cyber incident that Stryker had previously disclosed, but with the cyber incident in the rear view mirror, the firm expects the company to continue to benefit from healthy procedure growth, robust hospital capital spending, and numerous new product launches, the analyst tells investors in a research note.

• FND Piper Sandler lowered the firm's price target on Floor & Decor to $70 from $78 and keeps an Overweight rating on the shares following "a somewhat disappointing" start to the year with a guide down. March and April comparable sales stepped down and the company lowered the guide such that a continuation of the current trend would hit the midpoint of the new guide. While disappointing, Piper believes this seems appropriate and should set estimates at a level that can see upside with any improvement in the Middle East situation and/or 30-year mortgage rate.
• AFL Piper Sandler lowered the firm's price target on Aflac to $125 from $130 and keeps an Overweight rating on the shares. The firm notes the company reported a miss versus its and consensus' estimates primarily driven by underperformance in Japan where the pre-tax margin was less than Piper projected. Earnings emergence was challenged for the second quarter in a row, but there was underlying improvement in a consistently more favorable benefit ratio that has emerged out of Aflac's Japan business with the distribution remaining strong, the firm adds.
• ALL Piper Sandler raised the firm's price target on Allstate to $268 from $252 and keeps an Overweight rating on the shares. The firm notes the company reported a beat versus Piper's and consensus' estimates driven by better-than-expected favorable development. Top line growth was lower than expected. Total company year-over-year PIF growth was lower than last quarter, but auto PIF growth accelerated, adds the firm.
• CORT Piper Sandler raised the firm's price target on Corcept Therapeutics to $88 from $73 and keeps an Overweight rating on the shares following quarterly results. The firm says it is "certainly not sweating" the light revenue number, particularly given that the transition to the new specialty pharmacy supporting Korlym only took place in February. With Lifyorli now commercially available in platinum-resistant ovarian cancer, the upward revision to management's 2026 total revenue guidance range was not surprising, Piper adds.
• ITGR Piper Sandler analyst Matt O'Brien raised the firm's price target on Integer to $97 from $87 and keeps an Overweight rating on the shares. The firm notes Integer reported Q1 results that beat on the top- and bottom-lines but lowered full-year guidance across the board. Management attributed recent customer forecast updates in EP and other risk adjustments for the changes. Importantly, Integer clarified that the core EP market remains strong growing in the high-teens. Piper believes the forecast updates are a one-time event reflecting market stabilization rather than structural weakness. While the firm is cautious as stabilization could take longer than anticipated, updated sales guidance is a welcome revision from the previously steep back-half ramp.
• FIVN Piper Sandler analyst James Fish raised the firm's price target on Five9 to $24 from $21 and keeps a Neutral rating on the shares. The firm notes shares were up 15% after-hours as Five9's revenue showed a slight re-acceleration that was marked by AI underneath accelerating as large customers ramp their deployments. AI is now 10% of the overall, and CCaaS exhibited 'stable growth' as seats aren't going away. Guide was raised by only the Q1-upside flow-through essentially that makes this a still conservative setup on easy compares heading into the remaining quarters, Piper adds.
• SMMT Piper Sandler lowered the firm's price target on Summit Therapeutics to $16 from $17 and keeps a Neutral rating on the shares. The firm notes the company reported Q1 earnings that most notably announced the planned Q2 interim PFS analysis was performed and reviewed by the IDMC who recommended that the study continue as planned. Summit shares are "understandably weak" after-hours, Piper says, as investors question whether the impressive effect size seen in Akeso's HARMONi-6 can be replicated in Summit's global HARMONi-3 following this news, despite minimal alpha spent on this interim.
• TWLO Piper Sandler raised the firm's price target on Twilio to $192 from $130 and keeps a Neutral rating on the shares. The firm notes shares were up 15% after-hours following Twilio's largest beat in about three years that came in well-above buyside expectations, which was complemented by a guidance raise that still looks conservative, gross-profit dollars accelerating, and acceleration across key mediums of Voice and core Messaging. Durable growth drivers remain here, and while Piper has a positive long-term bias, the firm would wait for a better entry-point given the second half compares becoming more challenging and after hours move that puts valuation near the high-end of the historical range.

• WCC Raymond James raised the firm's price target on Wesco to $400 from $335 and keeps a Strong Buy rating on the shares. Wesco delivered a Q1 sales and EBITDA beat driven by strong datacenter demand, raised 2026 guidance that still appears conservative, and continues to show improving non-datacenter momentum alongside sustained exposure to AI-driven infrastructure tailwinds, the analyst tells investors in a research note.
• AMZN Raymond James raised the firm's price target on Amazon.com to $280 from $225 and keeps an Outperform rating on the shares. AWS delivered slightly softer-than-expected 28% growth, but major AI partnerships and expanding agentic capabilities across models, tools, and compute significantly strengthen its long-term position, lifting RPO expectations and reinforcing AWS as a key platform for enterprise and consumer AI commercialization, the analyst tells investors in a research note.
• TEAM Raymond James lowered the firm's price target on Atlassian to $130 from $170 and keeps an Outperform rating on the shares. Atlassian significantly outperformed expectations in Q3 with accelerating Cloud growth, strong guidance, and expanding AI adoption via Rovo and Collections, reinforcing ecosystem durability and countering "AI disruption" concerns, while near-term valuation debate persists despite continued evidence of long-term monetization potential, the analyst tells investors in a research note.

• CTSH Susquehanna lowered the firm's price target on Cognizant to $88 from $98 and keeps a Positive rating on the shares. The firm said Q1 was ok and note the company is leading with a "3 Vector" strategy that basically emphasizes Infrastructure Modernization necessary for agentification. The firm thinks this is the right message. Despite a "meh" quarter, the stand-up of previously announced deals seems to be helping visibility.
• EBAY Susquehanna raised the firm's price target on eBay to $110 from $95 and keeps a Neutral rating on the shares. The firm said they reported a solid 1Q, driven by strength in the US and across the company's strategic priorities and focus categories. The outlook was generally fine, though some macro headwinds remain, especially internationally. Susquehanna views the risk/ reward as balanced.
• FTI Susquehanna raised the firm's price target on TechnipFMC to $90 from $83 and keeps a Positive rating on the shares. The firm updated its model following Q1 results as they delivered another very solid quarter, highlighted by adjusted EBITDA that was up 27% year-over-year and 2% above forecast.
• MA Susquehanna lowered the firm's price target on MasterCard to $665 from $670 and keeps a Positive rating on the shares. The firm said they started the year strong though April slowed, especially in XB (cross-border) travel decelerating to just 2% growth versus 8% in Q1. The company continues to see healthy growth for purchase volume, driven by strength in XB payments (particularly non- travel) and the onboarding of new wins in consumer and commercial.
• ROKU Susquehanna analyst Shyam Patil raised the firm's price target on Roku to $160 from $130 and keeps a Positive rating on the shares. The firm said they reported a strong beat and raise to start the year, as momentum continues to build around the company's various growth initiatives. Susquehanna continues to see ROKU as one of the best positioned companies to capture the massive CTV opportunity.
• TENB Susquehanna lowered the firm's price target on Tenable to $26 from $40 and keeps a Positive rating on the shares. The firm said they reported 1Q largely ahead of expectations and raised its full year outlook as it continues to see strong traction with the Tenable One platform and increased interest from customers due to advancements in AI, such as Claude's Mythos Preview model.
• TRN Susquehanna raised the firm's price target on Trinity Industries to $35 from $34 and keeps a Neutral rating on the shares. The firm said they are encouraged by the company's constructive tone on leasing stability, secondary market health, and structurally higher manufacturing margins at trough build levels. That said with yesterday's raised guide partly flattered by the non-cash, nonrecurring JV restructuring gain, our view and visibility into 2027 remains largely unchanged.

• RBLX TD Cowen upgraded Roblox to Hold from Sell with a price target of $49, down from $54. The company cut its "overly ambitious" fiscal 2026 guidance, the analyst tells investors in a research note. TD believes the stock's current valuation now better reflects the "facts on the ground" for Roblox. TD cites valuation for the upgrade, seeing some value in the stock. Roblox in premarket trading is down 24%, or $13.36, to $41.90.

• DASH UBS lowered the firm's price target on DoorDash to $206 from $240 and keeps a Neutral rating on the shares. 2026-2027 gross order value forecasts are slightly reduced to reflect moderating delivery growth, while higher-than-expected cost inputs lift EBITDA estimates, though margin upside remains limited as ongoing reinvestment in grocery, autonomy initiatives, and DashMart expansion keeps capital intensity elevated versus bullish expectations, the analyst tells investors in a research note.
• CLX UBS lowered the firm's price target on Clorox to $96 from $110 and keeps a Neutral rating on the shares. Clorox beat Q3 EPS expectations on lower SG&A but significantly cut FY26 guidance, surprising investors with the magnitude of the reduction and highlighting continued delays in organic sales improvement and limited visibility into medium-term earnings, leading to a cautious outlook despite an attractive valuation, the analyst says in a research note.
• WDC UBS raised the firm's price target on Western Digital to $375 from $350 and keeps a Neutral rating on the shares. Western Digital delivered another beat-and-raise driven by tight HDD supply and rising pricing power, but despite strong near-term execution and guidance control, skepticism remains around sustainability of elevated margins and valuation relative to AI/data center peers, especially given investor assumptions that position HDDs as long-term compounders versus more cyclical memory names, the analyst tells investors in a research note.
• TEAM UBS lowered the firm's price target on Atlassian to $95 from $105 and keeps a Neutral rating on the shares. Atlassian reported stronger-than-expected Cloud revenue growth and solid forward guidance, standing out as relatively resilient amid broader enterprise software softness seen across peers, with no meaningful demand weakness flagged, the analyst tells investors in a research note.
• TWLO UBS raised the firm's price target on Twilio to $200 from $180 and keeps a Buy rating on the shares. Twilio delivered a meaningful organic revenue beat with accelerating 16% growth driven by broad-based strength across its communications platform, with possible AI-related tailwinds supporting usage expansion and reinforcing stronger near-term demand for usage-based models, the analyst tells investors in a research note.
• COLM UBS raised the firm's price target on Columbia Sportswear to $47 from $44 and keeps a Sell rating on the shares. Columbia Sportswear is expected to deliver only modest long-term growth amid ongoing U.S. demand and competitive pressures, with tariff-related cost dynamics and macro headwinds limiting the earnings recovery outlook and leaving the current valuation looking stretched relative to a muted 5% EPS CAGR, the analyst tells investors in a research note.
• HCC UBS lowered the firm's price target on Warrior Met Coal to $102 from $104 and keeps a Buy rating on the shares. Warrior's 1Q26 results missed on EBITDA and EPS due to weaker volumes and pricing despite solid cost control, with rising inventories and near-term oversupply risks creating pricing pressure, though operational execution remains strong and an earnings inflection is expected as Blue Creek capex rolls off, the analyst tells investors in a research note.

• BIO Wells Fargo lowered the firm's price target on Bio-Rad to $290 from $320 and keeps an Equal Weight rating on the shares. The firm notes Q1 missed on organic growth and EBITDA as the Middle East conflict hit demand and margins, while also leading it to materially cut FY26 revenue/margin guidance.
• GDDY Wells Fargo analyst Alec Brondolo raised the firm's price target on GoDaddy to $83 from $77 and keeps an Equal Weight rating on the shares. The firm notes the company reported in-line Q1 EPS, while guiding Q1 bookings to a significant re-acceleration on lower promo activity. While bookings guide is positive, ramping competitive intensity suggests further volatility could lie ahead, Wells adds.
• TWLO Wells Fargo analyst Ryan MacWilliams raised the firm's price target on Twilio to $200 from $147 and keeps an Overweight rating on the shares. The firm notes the company printed a strong Q1, underpinned by growth re-acceleration across channels and an increasingly positive outlook. Wells believes investors are likely to continue feeling comfortable here, with very little pushback to this set of results.
• AAPL Wells Fargo analyst Aaron Rakers raised the firm's price target on Apple to $310 from $300 and keeps an Overweight rating on the shares. The firm cites better-than-feared results and guide, notably with revenue and gross margin percentage guide 5% and 50bps above Street estimates. Wells expects focus to remain on Apple's management of memory and storage inflation into the second half of 2026.

Rating abbreviations…

***OP = Outperform

***SP = Sector Perform

***UP = Underperform

***OW = Overweight

***EW = Equal-weight

***UW = Underweight

***Report powered by thefly.com***

What’s on Tap Weekly Calendar

• 10:00 AM ET                 Factory Orders M/M for March

• Earnings After the Close: ADTN ADUS AEIS AESI ALG ALSN AMRC APLE AVNW BDSX BLZE BMRN BRCC BSM BWIN BWXT CRBG CRGY CSR CYRX DHC DORM DUOL EOLS EQH ERO EVER FANG FLY FN GAIA GBDC HSTM ICHR IIPR INSP JELD JRVR MATX MED MSA NHI NJR NUVB OGS ON OSIS OTTR PAY PGR PINS PLOW PLTR POWL PSKY RAIL RBA RIG RPAY SONO STRL TCMD TDUP TDW TNC TVTX VAL VNO VNOM VOYG VRTX VTS VVX WGS WMB

• Digestive Disease Week (DDW), 5/2-5/5, in Chicago, Illinois
• Oppenheimer 21st Annual Industrial Growth Conference, 5/4-5/7

• 8:30 AM ET                   Internation Trade for March
• 8:30 AM ET                   Advance Goods Trade Balance for March
• 8:55 AM ET                   Johnson/Redbook Weekly Sales
• 9:45 AM ET S&P Global Composite PMI, Apr-final
• 9:45 AM ET S&P Global Services PMI, Apr-final
• 10:00 AM ET ISM Non-Manufacturing Index for April
• 10:00 AM ET                 New Home Sales M/M for March
• 10:00 AM ET                 JOLTs Job Openings for March
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: ACEL ACT ADPT AIZ ALAB ALIT AMC AMD AMWL ANDE ANET ANGI ARDT ATEC BBAI BFAM BJRI BL BMBL BV BXC CACC CBT CC CE CHRD COMP COTY CPNG CRC CRK CTVA CYTK DAVE DEI DHT DHX DOC DVA DVN EA ECG EMR EXEL FLYW FRSH FTEK FTK GNW GPOR GRAL GXO HL HNGE HRZN HTGC HURN IFF IPAR J JAZZ JKHY JOBY JXN KE KVYO LCID LDI LEU LITE LMB LOGI LUMN LYV MCY MEC MG MQ MRCY MSTR MTCH MTW MWA MYGN NBIX NSA NVTS ONTO OUST OXY PAAS PARR PBI PMT PRIM PRU QDEL QLYS QRVO RARE RIGL RLAY RPD RVLV RYAM SAR SDGR SMCI SOLV SU SUPN SWKS TALO TBI TDC TEM TLN TMDX TRVO TTAM TX UFCS UPST USNA VAC VYCT VECO VOYA WK WOLF WTTR XRAY

• Digestive Disease Week (DDW), 5/2-5/5, in Chicago, Illinois
• Oppenheimer 21st Annual Industrial Growth Conference, 5/4-5/7

• 8:15 AM ET ADP Private Payrolls Employment for April
• 10:30 AM ET                 Weekly DOE Inventory Data

• Earnings After the Close: ACAD ADVA ADMA AEE AEVA AIRG ALB ALTO AMH AMPL AOSL APA APP ARAY ARM ARQT ARRY ATNI ATO AXON BBSI BKD BKH BLBD BLLN BROS BYND CAPL CDE CENTA CF CGNX CHGG CHYM CLOV CMP CODI COHR CPK CPS CRUS CSV CW CXW DASH DLX DV ECPG EE EHTH EPR EQX ES EVTC FLNC FLUT FNF FORR FSK FSLY FTNT GNK GT HDSN HLF HMN HNST HRB HST IONQ IPI KLIC KMPR KRO KTOS LB LFMD LIFE LTC LZ MAC MEG MET MGNI MIRM MKSI MNKD MTDR MUR NGVT NTR NVST O OEC ORA PAHC PAYC PLMR PR PRI PTC QGEN RDN RELY ROOT RRX RUN RXST RYN SEZL SGHT SKWD SM SNAP SRPT SVC SVV SYM TASK TKO TPC TS UGI USPH UTI VRRM WBI WES WHD WHR WTS XRN Z ZG ZVIA

• Oppenheimer 21st Annual Industrial Growth Conference, 5/4-5/7

• 8:30 AM ET                   Weekly Jobless Claims
• 8:30 AM ET                   Continuing Claims
• 8:30 AM ET                   Nonfarm Productivity for Q1
• 8:30 AM ET                   Unit Labor Costs for Q1
• 10:30 AM ET                 Weekly EIA Natural Gas Inventory Data

• Earnings After the Close: AAOI ABNB ACLS AFRM AGO AHR AKAM ALRM AMN ARCT ASLO ARWR BBIO BILL BOBS CARG CCRN CLNE COIN CPAY CRNC CRSR CRWV CTRE CWAN CWEN DBX DH DIOD DKNG DNA DXC ED ESE EXPE FBIN FIGS FOXF FROG FWRD G GDRX GEN GH GILD GMED HHH HUBS ICFI UCUI III IIIV INOD IOSP IREN JYNT KINS LASR LOCO LYFT MAIN MBUU MCHP MCK MELI MNST MP MRVI MSI MTD NET NRDY NTRA NUS NWSA OFRM OLN OMDA OPEN OTEX OUT PAR PBA PGNY POST POWI PRAA PTCT PUBM QNST REAL RGA RKLB RKT RMAX RNG RSG SARO SERV SG SMR SPT SSP STTRZ SYNA TNDM TXRK UPWK VREX WEST WMG WPM WSC WYNN XPOF XYZ YELP ZD ZIP ZYME

• Oppenheimer 21st Annual Industrial Growth Conference, 5/4-5/7
• RBC Capital Technology Private Company Conference, 5/7, in Los Angeles

• 8:30 AM ET                   Private Payrolls for April
• 8:30 AM ET                   Manufacturing Payrolls for April
• 8:30 AM ET                   Average Hourly Earnings M/M and Y/Y for April
• 10:00 AM ET                 University of Michigan Confidence for May, preliminary
• 10:00 AM ET                 University of Michigan 1-yr and 5-yr inflation expectations
• 1:00 PM ET                    Baker Hughes Weekly rig count data

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