We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Jobless Claims Pop Up a Bit, Major Morning for Earnings
Read MoreHide Full Article
Key Takeaways
Initial Jobless Claims Rise to Highest Level of 2026
Continuing Claims Off Lowest Print in 2 Years
BMY, COP, RL & More Report Earnings This Morning
Thursday, February 5th, 2026
Ahead of today’s open, we see fresh Weekly Jobless Claims data. It turns out to be the last employment data of what we had anticipated to be a complete “Jobs Week,” but non-farm payrolls from the U.S. government have once again been delayed until Wednesday of next week (Feb. 11th).
Initial Jobless Claims reached their highest level of 2026 so far: +231K, well up from an expected +212K and the unrevised +209K the prior week. It’s actually the highest weekly print since early December, which is basically on the other side of holiday employment seasonality. In any case, we’ve just passed through the longest stretch of very favorable new unemployment claims in two years. We’ll reserve judgment whether we’ll return there soon.
Continuing Claims also increased off near-term lows: 1.844 million is up from the downwardly revised 1.819 million the previous week, which was the slimmest amount of longer-term jobless claims since May of ’24. This is still a favorable level for continuing jobless claims, however; we’d spent much of the past six months between 1.93 and 1.97 million.
Cavalcade of Earnings Reports This Morning: BMY, COP, RL & More
We have a large numbers of companies reporting quarterly earnings — by volume, the busiest day of Q4 earnings season to date so far. So let’s do a quick run-down of the biggest moves ahead of the opening bell:
Big Pharma staple Bristol Myers-Squibb (BMY - Free Report) posted earnings of $1.26 per share, above the Zacks consensus for $1.15, which amounts to a +9.57% earnings beat. Shares are up +1.7% on the news, adding to the stock’s +6.8% gains year to date. For more on BMY’s earnings, click here.
Integrated Oil “supermajor” ConocoPhillips (COP - Free Report) , on the other hand, missed earnings estimates this morning by 6 cents, reporting $1.02 per share for an earnings miss of -5.6%. Shares are down -3.3% upon this release, taking a bite out of the company’s significant +14.9% gains from the start of the year.
Apparel giant Ralph Lauren (RL - Free Report) beat expectations in its Q4 earnings report this morning, posting $6.22 per share versus $5.80 for a +7.2% positive surprise, although shares are sliding -6.5% in early trading as annualized revenue growth has begun to slip below its five-year average.
Designer accessories major Tapestry (TPR - Free Report) , formerly Coach Inc., generated a strong earnings beat this morning, with $2.69 per share well above the $2.20 in the Zacks consensus in its fiscal Q2. Shares are up +5.9% at this hour of early trading, adding to the company’s +1.7% gains from the start of the year. For more on TPR’s earnings, click here.
Other notable earnings beats this morning came from Hershey’s (HSY - Free Report) , +21.28%, and steel giant ArcelorMittal (MT - Free Report) , +53.57%. The biggest beat of the morning, however, came from MasterCraft Boat (MCFT - Free Report) , which reported earnings +81.25% ahead of consensus — although revenues came in below estimates, so the stock is down -1.2%. ArcelorMittal is flat this morning and Hershey’s is +4.2%.
View the Zacks #1 Rank List
Image: Bigstock
Jobless Claims Pop Up a Bit, Major Morning for Earnings
Key Takeaways
Thursday, February 5th, 2026
Ahead of today’s open, we see fresh Weekly Jobless Claims data. It turns out to be the last employment data of what we had anticipated to be a complete “Jobs Week,” but non-farm payrolls from the U.S. government have once again been delayed until Wednesday of next week (Feb. 11th).
Initial Jobless Claims reached their highest level of 2026 so far: +231K, well up from an expected +212K and the unrevised +209K the prior week. It’s actually the highest weekly print since early December, which is basically on the other side of holiday employment seasonality. In any case, we’ve just passed through the longest stretch of very favorable new unemployment claims in two years. We’ll reserve judgment whether we’ll return there soon.
Continuing Claims also increased off near-term lows: 1.844 million is up from the downwardly revised 1.819 million the previous week, which was the slimmest amount of longer-term jobless claims since May of ’24. This is still a favorable level for continuing jobless claims, however; we’d spent much of the past six months between 1.93 and 1.97 million.
Cavalcade of Earnings Reports This Morning: BMY, COP, RL & More
We have a large numbers of companies reporting quarterly earnings — by volume, the busiest day of Q4 earnings season to date so far. So let’s do a quick run-down of the biggest moves ahead of the opening bell:
Big Pharma staple Bristol Myers-Squibb (BMY - Free Report) posted earnings of $1.26 per share, above the Zacks consensus for $1.15, which amounts to a +9.57% earnings beat. Shares are up +1.7% on the news, adding to the stock’s +6.8% gains year to date. For more on BMY’s earnings, click here.
Integrated Oil “supermajor” ConocoPhillips (COP - Free Report) , on the other hand, missed earnings estimates this morning by 6 cents, reporting $1.02 per share for an earnings miss of -5.6%. Shares are down -3.3% upon this release, taking a bite out of the company’s significant +14.9% gains from the start of the year.
Apparel giant Ralph Lauren (RL - Free Report) beat expectations in its Q4 earnings report this morning, posting $6.22 per share versus $5.80 for a +7.2% positive surprise, although shares are sliding -6.5% in early trading as annualized revenue growth has begun to slip below its five-year average.
Designer accessories major Tapestry (TPR - Free Report) , formerly Coach Inc., generated a strong earnings beat this morning, with $2.69 per share well above the $2.20 in the Zacks consensus in its fiscal Q2. Shares are up +5.9% at this hour of early trading, adding to the company’s +1.7% gains from the start of the year. For more on TPR’s earnings, click here.
Other notable earnings beats this morning came from Hershey’s (HSY - Free Report) , +21.28%, and steel giant ArcelorMittal (MT - Free Report) , +53.57%. The biggest beat of the morning, however, came from MasterCraft Boat (MCFT - Free Report) , which reported earnings +81.25% ahead of consensus — although revenues came in below estimates, so the stock is down -1.2%. ArcelorMittal is flat this morning and Hershey’s is +4.2%.
Questions or comments about this article and/or author? Click here>>