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Pre-market indexes are swinging back into positive territory from lower early-morning levels, now erasing the big losses in the first part of this week on all but the small-cap Russell 2000, which is break-even over the past five trading days. This morning, the Dow is +110 points, +0.22%, the S&P 500 is +6, +0.09%, the Nasdaq +7, +0.03% and the Russell 2000 +4, +0.18%.
Jobless Claims Come In-Line to Lower: 212K, 1.833M
It’s a “normal” Thursday morning, so we get new Weekly Jobless Claims figures, and once again they came in historically low. Initial Claims reached 212K for last week, below the 215K expected but generally within range, and slightly above the upwardly revised 208K the previous week. Early this month we were pushing upwards of 230K new jobless claims, but have since moved back down to holiday season trends.
Continuing Claims dropped for the first time in four weeks, to 1.833 million from a downwardly revised 1.864 million the prior week. This is the lowest tally of longer-term jobless claims since the second week of January, and well below the 1.9+ million range we’d been in for most of 2025.
Labor numbers these days need to come with some asterisks. Major revisions and audits hit previous reads, particularly on the monthly employment numbers, making real-time headlines less than fully steady. In the case of these weekly claims, we are likely not getting a full employment picture based on 1) longer-term claims expire (after 26 weeks or 52 weeks, commonly) and fall out of the tallies, 2) severance packages from mass layoffs are keeping a significant number of claims from being filed, and 3) recent college grads unsuccessfully finding first jobs in their fields are not counted in these totals, either.
Earnings Reports at a Glance: CELH, SHAK, BIDU & More
Among the biggest gainers on earnings this morning is energy drink company Celsius Holdings CELH, which posted a +38.4% positive earnings surprise to 26 cents a share, from 14 cents reported in the year-ago quarter. It’s the thirds earnings beat in the last four quarters. Revenues were also impressive: +13.1% to $721.63 million, as was the comment that Celsius now claims 20% of the U.S. energy drink market. Shares are up +15% on the news. For more on CELH’s earnings, click here.
Shake ShackSHAK beat earnings estimates by a penny to 37 cents per share, and this plus news the company has hired a new CFO are helping lift shares +11.8% in pre-market trading. This already adds to the +13.5% gains the stock has made year to date, making it one of the most successful near-term quick-service restaurant (QSR) stocks after a steep drop last summer.
Baidu BIDU also outpaced earnings estimates — $1.52 per share versus expectations of $1.47, for a +3.4% earnings surprise — and also beat on revenue estimates. However, as sales continue to erode for the Chinese search-engine giant, we see shares -3% on this news. This swings the stock into the red year-to-date after +48% growth over the prior year.
After the close, Dell TechnologiesDELL reports its Q4 results. Estimates are for strong growth on both earnings and revenues: +32% and +33.3%, respectively. The tech major has beaten earnings estimates in three of the past four quarters.
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Acquisition and business restructuring initiatives, stabilizing funding costs, solid balance sheet position and robust loans and deposit balances will support Associated Banc-Corp’s financials.
Element Solutions is poised to benefit from several innovation-driven strategic initiatives. The company grows through acquisitions and a robust cash balance.
TE Connectivity’s harsh-environment application business and industrial solutions are positives. Secular trends in autonomous driving systems and infotainment areas are tailwinds.
First Horizon’s rising loans and deposit balances along with diversified product offerings and strategic buyouts support its financials. Further, a solid capital position is an added advantage.
ATI should benefit from the strength in its HPMC unit driven by the aerospace and defense sectors. The HRPF facility and efforts to improve operational efficiency will also contribute to its performance.
Cardinal Health is driving growth through specialty pharma, at-home care, and GMPD turnaround, supported by strategic acquisitions that expand margins and diversify beyond low-margin distribution.
Soft performances at the Closed Block and Corporate segment over the past few quarters and rise in total benefits and expenses for the past few years inducing margin contraction remain concerns.
Kohl’s is grappling with a tough macroeconomic backdrop, with external headwinds like shifting consumer behavior. Management foresees a net sales decline of 5-6% for fiscal 2025.
Burlington experienced uneven performance across both product categories and geographic regions during the third quarter. Stiff competition in the industry remains an added deterrent.
Boston Beer is witnessing weak depletions, with continued challenges in the hard seltzer category for a while. Depletions and shipments are now expected to remain flat to down mid-single digits for 2026.
The company faces headwinds in the form of a high inflationary environment, competitive pressures and significant reliance on a limited number of customers.
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.
Central Garden & Pet advances digital, supply chain and product innovation while driving margin gains and M&A, backed by strong financials and a focused Cost and Simplicity program.
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
AbbVie’s Skyrizi and Rinvoq, are performing extremely well, bolstered by approval in new indications, which should support top-line growth in the next few years.
Robust vehicle offerings, a growing software and services business, progress in China restructuring, and investor-friendly moves are expected to support General Motors’ growth.
Target’s accelerating digital ecosystem, marketplace expansion, shrink improvement, and high-margin non-merchandise streams, supported by advanced tech and AI, enhance profitability and omnichannel scale.
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