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News this morning is keeping pre-market futures alight while sending spot oil prices down: Iran State TV is openly discussing a draft for a peace deal with the U.S. that would end the war begun in the Islamic-governed nation on the last day of February. The devil, of course, will be in the details, but the Dow is up +131 points (after dipping momentarily into the red ahead of this news), the S&P 500 is +30 points, the Nasdaq +288 and the small-cap Russell 2000 +19.
Meanwhile, West Texas Intermediate (WTI) oil is down -5.7% today to $88.50 per barrel (/bbl) — the lowest level in five weeks. Brent crude is down -4.7% to $94.90/bbl. While good news in that it helps oil prices relax so that domestic gasoline might come down from its $4.50 per gallon, on average, nationwide. Still, we’re +63% on oil prices since before the war started, and even if a peace deal were to be agreed upon by both sides today, it would take several months to get global oil supply back to normal.
Lest we forget, the AI rally continues to keep the stock market strong, with memory chip giant Micron MU the latest corporation to surpass $1 trillion in market capitalization. Investors are celebrating by buying more: shares for the Boise-Idaho-based tech major are up +7.5% at this hour of the pre-market, adding to the +213.9% gains for the stock year to date, +830% over the past year.
Abercrombie & FitchANF reported an impressive Q1 earnings beat this morning, reporting earnings of $1.47 per share versus $1.26 in the Zacks consensus. This is still a ways behind the year-ago tally of $1.59 per share, but amounts to a +16.36% positive surprise. Revenues of $1.11 billion, on the other hand missed expectations by -0.48%. Even still, the stock is climbing +6% in early trading, as the stock had been suppressed -40% year to date. For more on ANF’s earnings, click here.
DICK’S Sporting GoodsDKS had a mirror-image mixed Q1 report this morning: it missed earnings estimates by a penny to $2.90 per share (down from $3.37 per share a year ago) on revenues which surpassed expectations by +2.00% to $5.16 billion in the quarter (way up from $3.17 billion a year ago). The acquisition of Foot Locker is the activating agent here. Shares are down -2% in today’s pre-market, but +17.8% year to date. For more on DKS’ earnings, click here.
Bath & Body WorksBBWI shares are up +13% in today’s early session — swinging the stock into the green year to date — on earnings of +$0.32 per share beating the Zacks consensus by 3 cents, and revenues of $1.38 billion advancing past estimates by +1.01%. Sales are still down year over year, as we’ve seen with these other retailers reporting this morning. For more on BBWI’s earnings, click here.
After today’s close, we’ll see Q1 earnings reports from SalesforceCRM and Marvell TechnologyMRVL hit the tape. Both are expected to have grown nicely on the earnings side: +20.9% for CRM and +29% for MRVL, year over year, with +12.5% revenue growth for streaming service giant Salesforce and +26.8% for semiconductor major Marvell, which continues to trade at all-time highs this morning.
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Increased demand among millennials for first-time home purchases, improved rate environment, strength in commercial business and effective capital deployment should drive growth.
Apple Intelligence integration, record Services, expanding enterprise tools, and payments reach support Apple’s recurring revenue, backed by ongoing shareholder capital returns.
Portfolio focus, technology-led systems growth, disciplined acquisitions, margin roadmap and shareholder returns support steady earnings expansion for Timken.
Strength in the Specialty segment, acquisitions and solid product offerings are supporting EnerSys’ growth. The company’s policy of rewarding its shareholders adds to its attractiveness.
End-to-end product lifecycle management, technological prowess, customer-oriented strategy and strong liquidity position are major growth drivers for Sanmina.
Growth in end markets and cost-out execution will continue to support TriMas’ results. Portfolio simplification and capital deployment into higher-growth packaging platforms will aid growth.
AI infrastructure spending shifts toward Applied Materials’ core markets, while services, new products and partner programs support durable value capture growth.
Take-Two faces franchise concentration, rising development costs, mobile gaming competition, and macroeconomic risks, which could pressure long-term growth, profitability and margins sustainability.
Transaction weakness, commodity and labor inflation, slower closures, refinancing cost uncertainty, and limited international reach constrain recovery and valuation in the near term.
Brown-Forman anticipates a challenging operating environment in fiscal 2026 with limited visibility, driven by ongoing macroeconomic and geopolitical uncertainty.
Launch execution risks, intense competition, macroeconomic volatility and integration challenges could delay commercialization and weigh on profitability prospects.
Gap’s performance has been weighed down by Athleta’s underperformance and ongoing brand reset. Tariff pressures are further squeezing profits despite solid sales growth.
Clorox faces mounting near-term headwinds from rising costs, global economic pressures and intensifying competition, all of which threaten to weigh on its profitability in fiscal 2026.
Apple Intelligence integration, record Services, expanding enterprise tools, and payments reach support Apple’s recurring revenue, backed by ongoing shareholder capital returns.
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.
AI factory demand, fast product cadence, broader customers, software attach and substantial capital returns support NVIDIA’s upside despite ongoing execution risks.
AT&T is witnessing a healthy momentum in its core market areas, driven by strength in 5G and fiber, as it aims to better harness edge computing capabilities with core business focus.
Strength across all product groups is a positive catalyst for Edwards Lifesciences. The company’s bullish long-term growth strategy buoys optimism on the stock.
Amgen’s key medicines like Evenity and Repatha as well as newer medicines like Tavneos and Tezspire are driving sales, more than offsetting declining revenues from oncology biosimilars and legacy established products such as Enbrel
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