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Pre-market futures are up this morning, filling in some holes from Tuesday’s session that closed in the red. Major indexes are fighting back to all-time-high levels (on the S&P 500 and Nasdaq) last week, but are still working off the slide ahead of Monday’s open. The Dow is up +181 points, the S&P 500 is +29, the Nasdaq is +209 points and small-cap Russell 2000 is +17 at this hour.
Meanwhile, spot oil prices have relaxed from yesterday, $101 per barrel (/bbl) on WTI and $108/bbl on Brent crude, even as Iran ratchets up its war rhetoric this morning. Iran has reportedly permitted the transit of three dozen ships over the past day out of the Strait of Hormuz, but it’s unclear whether these ships are also passing the U.S. blockade at the Gulf of Oman. Gasoline here at home continues to climb in price per gallon: $4.56 nationwide, up +43% year over year.
Big Morning for Retail Earnings: TGT, LOW, TJX & More
Target TGT posted impressive Q1 results this morning, beating earnings estimates by 30 cents per share — $1.71, for a +21.4% positive earnings surprise — on $25.44 billion in revenues, up +4% from expectations. The department store major saw its strongest comps in four years. However, the future looks somewhat muted, as higher gasoline prices are already having an impact on its middle-class shopper. For more on TGT’s earnings, click here.
Home improvement center Lowe’sLOW also outperformed expectations in its Q1 report this morning, with earnings of $3.03 per share +2.4% higher than the Zacks consensus and revenues of $23.08 billion narrowly surpassing projections by +0.62%, but up nicely from the $20.93 billion in the year-ago quarter. Zacks Strategist Bryan Hayes gives his take on LOW’s earnings here.
The TJX Companies TJX — parent of T.J. Maxx, Marshall’s and Home Goods, and with a market cap well over 2x that of Target’s — posted a strong +18% earnings beat to $1.19 per share ($0.92 reported a year ago) on revenues of $14.32 billion outpacing expectations by +2.3%. Shares are up +3.7% on the news, pushing the stock into positive territory year to date. For more on TJX’s earnings, click here.
Vans, Timberland and The North Face parent V.F. Corp.VFC is also out with quarterly results ahead of today’s open. Flat earnings for fiscal Q4 beat expectations of -$0.02 (and the year-ago loss per share of -$0.13) on $2.17 billion in revenues, +1.77% higher than estimates. Shares had been up on the news, but are sliding ahead of the open. For more on VFC’s earnings, click here.
NVIDIA Reports After the Close Today
It’s the Big Kahuna of yet-to-report earnings results — even bigger than Walmart WMT on Thursday morning: NVIDIANVDA, the chip giant that has positioned itself perfectly for the boom in AI infrastructure investment. Expectations are typically awesome: +118.5% earnings growth on +78.7% growth in revenues from a year ago. NVIDIA has also outperformed estimates in each of the past three quarters.
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Strength in the Connected Devices and Software & Services units and accretive acquisitions bode well for Axon. Strategic partnerships also hold promise.
Ameren's systematic investments in growth projects, infrastructure upgrades and renewable portfolio will help to improve service reliability and generate higher profits.
Columbia Sportswear gains momentum with its ACCELERATE strategy, strong brand innovation, cost-efficiency programs and solid financial health, positioning it for sustained growth ahead.
Automation-led product design, expanding global capability, disciplined sales execution and capital returns support PAYC’s sticky client relationships and durable longer-term growth.
Urban Outfitters is poised for growth on the back of its decent Retail segment, merchandising improvements and store-rationalization efforts. Its FP Movement initiative also bodes well.
Main Street’s expansion strategies will likely raise operating expenses in the near term, which is expected to hamper the bottom line. Regulatory constraints pose another headwind.
American Eagle Outfitters (AEO)Downgraded: 05/16/26
American Eagle has been struggling with headwinds related to the consumer and macroeconomic operating landscape. In addition, stiff competition in the industry remains a concern.
Regulatory outcomes, customer concentration and project execution, and large financing needs could materially limit returns if growth or recovery lags.
Labor and supply-chain issues are likely to hurt Apogee’s margins. Elevated interest and healthcare costs are also likley to impact the company's performance in the ongoing quarters.
Large operating losses and higher investment spending, complex deals, roadmap deadlines, and acquisition execution can keep volatility elevated near-term valuation.
Rigetti’s reliance on milestone-based revenues and execution risks on its roadmap are concerning. Intense competition from larger, well-funded peers adds further pressure on its long-term prospects.
Lower yield outlook, softer close-in demand, execution gaps, fuel volatility, heavy capex and high leverage reduce near-term visibility for shareholders.
General Mills faces weak demand, margin pressure, inventory disruptions and elevated promotions, weighing on performance and limiting near-term recovery visibility.
American Eagle is well placed on cost-reduction efforts and brand progress. In the second half, the company expects to cycle tariffs and advertising investments.
Innovative Medicine unit is showing a growth trend, driven by existing products like Darzalex, Tremfya and Erleada and continued uptake of new launches, including Spravato, Carvykti and Tecvayli.
Advertising scale, broader entertainment formats, and technology-led product upgrades support revenue growth while disciplined margins and buybacks add cash durability.
Kroger drives growth with digital expansion, private label success, fresh offerings and strategic partnerships, while investments in AI and value creation fuel long-term scalability.
Align Technology’s robust product line, balanced growth across all channels and consistent focus on international markets to drive growth bolster our confidence in the stock.
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