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Japan

US Equity Futures Edge Higher Pre-Bell as Traders Monitor Middle East Situation, Anticipate Week's Tech Earnings

US equity futures were higher pre-bell Monday as traders monitored the latest developments in the Middle East conflict and look forward to earnings from several tech giants this week.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.1% higher.US Central Command said in a post on X that it successfully completed a ninth consecutive evening of strikes against Iran in a continuing effort to diminish its ability to attack commercial vessels transiting the Strait of Hormuz.Despite the constant exchange of attacks between both sides, Iran's Foreign Ministry spokesman Esmail Baghaei said that negotiations with the US could be pursued based on national interests.Alphabet (GOOG, GOOGL), Tesla (TSLA), Intel (INTC), and Texas Instruments (TXN) are set to release their financial results this week. Anticipated earnings also include GE Vernova (GEV), Philip Morris International (PM), RTX (RTX),and American Express (AXP).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.9% at $86.46 per barrel and US West Texas Intermediate crude 2.4% lower at $79.82 per barrel.June's leading indicators data is scheduled to be released 10 am ET.

Dow JonesNasdaq CompositeS&P 500$AXP$GEV$GOOG$GOOGL$INTC$PM$RTX$TSLA$TXN
Stocks Rise Pre-Bell as Traders Await Latest Batch of Earnings, Monitor Middle East Developments
US Markets

Stocks Rise Pre-Bell as Traders Await Latest Batch of Earnings, Monitor Middle East Developments

The benchmark US stock measures were pointing higher before the opening bell Monday as investors await earnings from several major companies this week and monitor developments in the Middle East.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each in premarket activity, while the Nasdaq added 0.6%. The indexes finished Friday's trading session lower.Alphabet (GOOG, GOOGL) and electric vehicle manufacturer Tesla (TSLA) are scheduled to release their quarterly earnings after the markets close Wednesday. Intel (INTC), Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), International Business Machines (IBM), AT&T (T) and Verizon Communications (VZ) are also expected to post their results this week.Shares of Domino's Pizza (DPZ) spiked 7.1% pre-bell as the pizza restaurant chain reported better-than-expected fiscal second-quarter revenue. Alibaba's (BABA) US-listed stock rebounded 3.4% after closing Friday down 2.1%.West Texas Intermediate crude oil edged down 0.8% to $81.87 a barrel before the open, while Brent slipped 0.1% to $88.05.Iran's foreign ministry spokesman Esmail Baghaei said that Tehran could resume negotiations with the US based on national interests, CNBC reported. Baghaei told reporters that US intermediaries had continued to exchange messages with Iran.The US Central Command said Sunday its forces completed their ninth consecutive evening of strikes against Iran. In a separate statement, CENTCOM confirmed the passing of three US service members, while a missing fourth member's remains were found in Jordan."Energy and refined fuel flows through the Strait of Hormuz continues to slow amid the escalating conflict between the US and Iran," Saxo Bank said in a Friday report. "The renewed disruption has interrupted the recent recovery in regional supply, reviving concerns about tighter global markets."Treasury yields were trending upwards in premarket action, with the two-year rate increasing 1.5 basis points to 4.19% and the 10-year rate gaining 2.1 basis points to 4.56%.Consumer sentiment this month hit its highest level since February amid easing price pressures at the pump, though renewed tensions in the Middle East could weigh on confidence going forward, according to a survey released Friday by the University of Michigan.Gold nudged up 0.2% to $4,026 per troy ounce, while bitcoin decreased 0.3% to $64,234.

Dow JonesNasdaq CompositeS&P 500$AXP$BABA$DPZ$GOOG$GOOGL$IBM$INTC$PM$T$TMUS$TSLA$VZ
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.2%.In sector news, Redbook US same-store sales rose by 10.5% from a year earlier in the week ended June 27 after a 10.0% year-over-year increase in the previous week. Redbook noted that there was an increase in demand for seasonal products such as air conditioners, fans, pool and beach equipment, swimwear, and other summer apparel.Separately, US retailers are placing China orders four to six weeks earlier than usual to build Black Friday and Christmas inventories ahead of potential US tariff hikes, Reuters reported, citing shipping executives. Frontloaded shipments have tightened container capacity on China-US routes, with spot rates from Shanghai to New york and Los Angeles rising week over week and year over year, maritime consultancy Drewry said.In corporate news, Allegiant Travel (ALGT) shares gained 2.8% after the company said it now expects Q2 adjusted earnings per share for the combined entity to be at least $1.25 following the acquisition of Sun Country Airlines, inclusive of Sun Country's results from May 13 through June 30.Patrick Industries (PATK) and LCI Industries (LCII) have entered into a definitive agreement to merge in an all-stock deal, the companies said Tuesday. Patrick Industries shares fell 3.1%, and LCI jumped past 6%.Philip Morris International (PM) shares were down 1.2% after it said Tuesday the US Food and Drug Administration issued Modified Risk Tobacco Product orders for 20 variants of ZYN nicotine pouch products.Paramount Skydance's (PSKY) proposed $110 billion takeover of Warner Bros. Discovery (WBD) might face regulatory intervention over media plurality concerns, British culture minister Lisa Nandy said Tuesday. Paramount shares were up 0.6%, and Warner fell 2%.

$ALGT$LCII$PATK$PM$PSKY$WBD
Sectors

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.1%.In sector news, Redbook US same-store sales rose by 10.5% from a year earlier in the week ended June 27 after a 10.0% year-over-year increase in the previous week. Redbook noted that there was an increase in demand for seasonal products such as air conditioners, fans, pool and beach equipment, swimwear, and other summer apparel.Separately, US retailers are placing China orders four to six weeks earlier than usual to build Black Friday and Christmas inventories ahead of potential US tariff hikes, Reuters reported, citing shipping executives. Frontloaded shipments have tightened container capacity on China-US routes, with spot rates from Shanghai to New york and Los Angeles rising week over week and year over year, maritime consultancy Drewry said.In corporate news, Patrick Industries (PATK) and LCI Industries (LCII) have entered into a definitive agreement to merge in an all-stock deal, the companies said Tuesday. Patrick Industries shares fell past 5%, and LCI rose 4.5%.Philip Morris International (PM) shares were down 0.5% after it said Tuesday the US Food and Drug Administration issued Modified Risk Tobacco Product orders for 20 variants of ZYN nicotine pouch products.Ford (F) is recalling 741,195 US vehicles due to a transmission defect that may impair the park system, posing a risk of vehicles rolling away, Reuters reported, citing the US National Highway Traffic Safety Administration. Ford shares were shedding 0.8%.

$F$LCII$PATK$PM
Wire

Philip Morris Gets Modified Risk Tobacco Product Orders for 20 ZYN Products

Philip Morris International (PM) said Tuesday the US Food and Drug Administration issued Modified Risk Tobacco Product orders for 20 variants of ZYN nicotine pouch products.The company said the orders allow it to market the following claim: "Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis."In January 2025, ZYN was the first nicotine pouch authorized for sale in the US, the firm said.Price: $180.22, Change: $-2.66, Percent Change: -1.45%

$PM
Sectors

Sector Update: Consumer Stocks Flat to Lower Premarket Tuesday

Consumer stocks were flat to lower premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) inactive and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.Mama's Creations (MAMA) shares were down more than 14% after the company priced a registered underwritten public offering of 5.6 million shares at $18.00 each, for gross proceeds of around $100 million.Edible Garden (EDBL) has entered into a non-binding letter of intent for a strategic commercialization alliance with an established partner in the sustainable food and agriculture sector, the company said. Edible Garden stock was up more than 84% premarket.Philip Morris International (PM) made an early $1.1 billion payment toward the 5-year segment of its senior unsecured term loan, the company said in a filing. Shares of Philip Morris International were 0.4% lower pre-bell.

$EDBL$MAMA$PM$XLP$XLY
Wire

Philip Morris, Other Tobacco Stocks Rise After FDA Proposes Foreign Tobacco Regulations

Philip Morris International (PM) and other US tobacco stocks edged higher in Friday trading after the US Food and Drug Administration proposed to require foreign tobacco product manufacturers to register their companies and list their products with the agency.The regulator said Friday the proposed rule seeks to protect public health by improving its ability to identify illegal foreign tobacco products, such as e-cigarettes, and conduct on-site inspections abroad.The proposed regulation also seeks to level the playing field for US tobacco manufacturers, which are currently required under federal law to register and list their products, the FDA said.Under the FDA's proposal, the agency said it would prescribe the format, content, and procedures for establishment registration and tobacco product listing for both foreign and domestic firms that manufacture, prepare, compound, or process tobacco products.Shares of Philip Morris rose 1.4%, British American Tobacco (BTI) added 0.5%, Turning Point Brands (TPB) was up 0.3%, while Altria Group (MO) fell 0.2%.Price: $181.44, Change: $+2.51, Percent Change: +1.40%

$BTI$MO$PM$TPB
Wire

Philip Morris Italia Penalized for Misleading 'Smoke-Free' Product Marketing

Philip Morris (PM) was fined 7 million euros ($8.09 million) by Italy's Competition Authority for unfair commercial practices related to the marketing of its smoke-free tobacco products, the regulator said Wednesday.The authority said Philip Morris Italia's use of terms such as "smoke-free," "smoke-free products," and references to a "smoke-free future" could mislead consumers, including minors, into believing the products are harmless to health or less harmful than conventional tobacco products.The regulator said current scientific and clinical knowledge does not support claims that combustion-free tobacco products are harmless or less harmful, noting in particular the presence of nicotine. It ordered Philip Morris Italia to report within 60 days on measures taken to end the practice.Price: $181.09, Change: $+2.60, Percent Change: +1.46%

$PM
Wire

Philip Morris International's US Launch of Zyn Ultra Seen as Potential Catalyst, Morgan Stanley Says

Philip Morris International's (PM) launch of Zyn Ultra nicotine pouches in the US will be a potential catalyst for the stock, Morgan Stanley said in a note emailed Wednesday.In an investor conference Tuesday, the company said it is launching Zyn Ultra in the US this month in 9- and 11-milligram strengths across a range of flavors similar to the original Zyn offerings, which was largely expected after the Food and Drug Administration's new enforcement guidance for nicotine pouches and e-vapor products, according to the note.Philip Morris also stated that its heat-not-burn category in Japan has been roughly matching its expectations, with IQOS holding its market share even after a significant excise tax-driven price increase on April 1, the firm noted.Morgan Stanley said it projected above-consensus growth for the stock in the medium term driven by the continued momentum of IQOS globally, the Zyn Ultra launch pushing US growth, and the planned roll-out of IQOS ILUMA in the US.Morgan Stanley maintained the company's stock rating at overweight and raised the price target to $200 from $190.Price: $176.41, Change: $+2.75, Percent Change: +1.58%

$PM
Research

Citic Securities Upgrades Philip Morris International to Buy From Add

Philip Morris International (PM) has an average rating of overweight and mean price target of $192.42, according to analysts polled by FactSet.

$PM
Equities

S&P 500 Ekes Out Seventh Consecutive Weekly Gain as Energy Leads

The Standard & Poor's 500 index edged up 0.1% this week, its seventh consecutive weekly gain, as a strong advance in energy stocks helped outweigh declines in other sectors.The S&P 500 ended the week at 7,408.50, up slightly on the week but down from the new closing high it reached Thursday at 7,501.24. The market benchmark also hit a new intraday high on Thursday at 7,517.12.The seven-week win streak is the index's longest since a nine-week run that ended in December 2023. The S&P 500 is now up 2.8% for the month and has climbed 8.2% in 2026.The week's advance was driven by gains in only four of the S&P 500's 11 sectors, led by energy amid surging oil prices on the back of renewed Middle East worries. Consumer staples, technology and health care also rose this week.Declines across the remaining seven sectors came amid inflation concerns.US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz, data released this week showed. Another report showed US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures.The energy sector jumped 6.8%, followed by gains of at least 1% each in consumer staples, technology and health care.Occidental Petroleum (OXY) and Targa Resources (TRGP) had the largest percentage gains in the energy sector for the week, rising 12% and 9.6%, respectively.The climb in consumer staples was led by shares of tobacco companies Philip Morris International (PM) and Altria Group (MO), which added 11% and 7.3%, respectively.The technology sector's gain came amid enthusiasm for artificial intelligence as Cisco Systems (CSCO) reported higher-than-expected quarterly results, boosted by strong demand for its AI infrastructure. Cisco's shares jumped 22% as the company reported fiscal Q3 earnings and sales above market expectations and raised its full-year guidance.On the downside, consumer discretionary fell 3.1%, followed by a 2.6% drop in real estate, a 2.3% loss in materials, and a 2.1% decline in utilities. Industrials fell 1.1% while communication services and financials also edged lower.Norwegian Cruise Line Holdings (NCLH) was among the hardest-hit stocks in consumer discretionary. The cruise operator's shares fell 9.1% as TD Cowen cut its price target on the stock to $22 each from $27. The firm kept its investment rating on the shares at buy.Next week, a number of retailers will report quarterly earnings, including Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's (LOW), TJX (TJX), and BJ's Wholesale Club (BJ). Other companies on the week's earnings calendar include NVIDIA (NVDA), Analog Devices (ADI), Intuit (INTU) and Deere (DE).Economic data will include April pending home sales, housing starts and building permits, as well as a final reading on May consumer sentiment.

Dow JonesNasdaq CompositeS&P 500$CSCO$MO$NCLH$OXY$PM$TRGP
Wire

Update: Market Chatter: Trump Plans to Fire FDA Commissioner Makary

(Updates with White House comment in last paragraph.)President Donald Trump has approved a plan to fire Food and Drug Administration Commissioner Marty Makary, the Wall Street Journal reported Friday, citing people familiar with the matter.Trump expressed displeasure in recent days with Makary for taking too long to approve flavored vapes and nicotine pouches, the Journal reported earlier this week, citing people familiar with the matter.Trump's decision is not final and could change, the report said."President Trump has assembled the most experienced and talented administration in history, an administration that continues to focus on delivering more historic victories for the American people," the White House said in an email to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $68.85, Change: $-0.19, Percent Change: -0.28%

$BTI$MO$PM$RLX$TPB
Wire

Market Chatter: Trump Plans to Fire FDA Commissioner Makary

President Donald Trump has approved a plan to fire Food and Drug Administration Commissioner Marty Makary, the Wall Street Journal reported Friday, citing people familiar with the matter.Trump has expressed his displeasure in recent days with Makary for taking too long to approve flavored vapes and nicotine pouches, the Journal reported earlier this week, citing people familiar with the matter.Trump's decision is not final and could change, the report said.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $69.16, Change: $+0.11, Percent Change: +0.17%

$BTI$MO$PM$RLX$TPB
Wire

Trump Plans to Fire FDA Commissioner Makary, WSJ Reports

Trump Plans to Fire FDA Commissioner Makary, WSJ Reports

$BTI$MO$PM$RLX$TPB
US Markets

Nasdaq, S&P 500 Notch Peaks as Earnings Fuel Optimism

The Nasdaq Composite and the S&P 500 hit record highs on Wednesday as upbeat corporate results overshadowed a rise in oil prices following Iran's seizure of two container ships in the Strait of Hormuz.The Nasdaq rose 1.6% to 24,657.6, while the S&P 500 climbed 1.1% to 7,137.9, both finishing at all-time highs after a two-day losing streak. The Dow Jones Industrial Average added 0.7% to 49,490.Most sectors were in the green, led by technology's 2.3% advance, while real estate saw the steepest decline.Boeing's (BA) first-quarter loss unexpectedly narrowed as commercial aircraft deliveries rose, while the plane maker reported a smaller cash burn year over year. The stock jumped 5.5%, the best performer on the Dow.Boston Scientific (BSX) shares surged 9%, the third-biggest gain on the S&P 500. The medical device supplier's first-quarter results exceeded Wall Street's estimates, but it lowered its full-year guidance.Philip Morris International (PM) reported first-quarter results above market estimates, while lowering its full-year earnings outlook. The cigarette and vape maker's shares jumped 7%.A number of tech stocks climbed, with Micron (MU) up 8.5%, among the biggest gains on the S&P 500. Apple (AAPL) rose 2.6%, the second-best performer on the Dow. Microsoft (MSFT) and Salesforce (CRM) also rose.West Texas Intermediate crude rose 3.3% to $92.58 per barrel in Wednesday late-afternoon trade, while Brent jumped 3% to $101.44.Iran said it seized two container ships attempting to cross the Strait of Hormuz, a key oil chokepoint. US President Donald Trump extended a ceasefire with Tehran late Tuesday, though he said the naval blockade of Iranian ports would continue.The status of a second round of peace talks between the US and Iran remained unclear.Trump does not consider Iran's claim that it seized two ships as a violation of the ceasefire, CNN reported, citing White House Press Secretary Karoline Leavitt.Tehran welcomes dialogue, but "breach of commitments, blockade and threats are main obstacles to genuine negotiations," Iranian President Masoud Pezeshkian said in a post on X on Wednesday."Oil prices continue to whipsaw as traders respond to a confusing and often contradictory flow of headlines, underscoring the deep mistrust between Tehran and Washington," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report on Wednesday.US Treasury yields were mixed, with the 10-year rate little changed at 4.31% and the two-year rate up 2.7 basis points at 3.81%.Gold was up 0.9% at $4,759.60 per troy ounce, while silver gained 1.7% to $77.75 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$BSX$CRM$MSFT$MU$PM
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) easing 0.1%.In corporate news, Booking (BKNG) is under investigation for allegedly using deceptive marketing tactics to promote its premium accommodation programs, the Italian Competition Authority said Wednesday. Shares dropped 6.3%.Netflix (NFLX) is in talks to purchase a historic Los Angeles movie studio space for a fragment of its 2021 sale price of $1.85 billion, after the property was repossessed by lenders including Goldman Sachs (GS), Bloomberg reported. Netflix rose 0.8%.Philip Morris International (PM) shares jumped past 6% after it reported Q1 results above market estimates.Best Buy (BBY) shares fell 4.8% after the firm said Corie Barry will step down as chief executive at the end of Q3, with Jason Bonfig, chief customer, product and fulfillment officer, set to succeed her.

$BBY$BKNG$NFLX$PM
US Markets

Equities Higher Intraday Amid Strong Earnings Reports; Oil Rises

US benchmark equity indexes were higher intraday following a batch of upbeat corporate results, while oil prices rose after Iran seized two container ships in the Strait of Hormuz.The Nasdaq Composite was up 1.3% at 24,577.8 after midday Wednesday, while the S&P 500 rose 0.8% to 7,121.3. The Dow Jones Industrial Average climbed 0.6% to 49,444. Among sectors, tech paced the gainers with a 2.1% advance, while real estate saw the steepest decline.Boeing's (BA) first-quarter loss unexpectedly narrowed as commercial aircraft deliveries rose, while the plane maker reported a smaller cash burn year over year. The stock was up 5.4% intraday, the best performer on the Dow.Boston Scientific (BSX) shares were advancing by 8.9%, the third-biggest gain on the S&P 500. The medical device supplier's first-quarter results exceeded Wall Street's estimates, but it lowered its full-year guidance.Philip Morris International (PM) reported first-quarter results above market estimates, while lowering its full-year earnings outlook. The cigarette and vape maker's shares rose 6.9%.A number of major tech stocks were advancing intraday, with Micron (MU) up 7.7%, among the best performers on the S&P 500. Apple (AAPL) rose 2.6%, the second-biggest gain on the Dow. Microsoft (MSFT) and Salesforce (CRM) were also higher.Tesla (TSLA), International Business Machines (IBM), and Texas Instruments (TXN) are scheduled to report results after the closing bell Wednesday. IBM shares were down 1.9% intraday, the steepest decline on the Dow.West Texas Intermediate crude rose 3.7% to $92.94 per barrel, while Brent jumped 3.3% to $101.76.Iran said it seized two container ships attempting to cross the Strait of Hormuz, a key oil chokepoint. US President Donald Trump extended a ceasefire with Tehran late Tuesday, though he said the naval blockade of Iranian ports would continue.The status of a second round of peace talks between the US and Iran remained unclear."Oil prices continue to whipsaw as traders respond to a confusing and often contradictory flow of headlines, underscoring the deep mistrust between Tehran and Washington," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report on Wednesday.US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.31% and the two-year rate up 2.5 basis points at 3.80%.Gold was up 0.7% at $4,753 per troy ounce, while silver gained 1.8% to $77.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$BSX$CRM$IBM$MSFT$MU$PM$TSLA$TXN
Sectors

Sector Update: Consumer Stocks Mixed Wednesday Afternoon

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.In corporate news, Philip Morris International (PM) shares jumped past 6% after it reported Q1 results above market estimates.AT&T (T) reported better-than-expected Q1 results on Wednesday, while the telecommunications giant reiterated its full-year earnings outlook. AT&T shares were 0.3% lower.Best Buy (BBY) shares fell 4.8% after the firm said Corie Barry will step down as chief executive at the end of Q3, with Jason Bonfig, chief customer, product and fulfillment officer, set to succeed her.

$BBY$PM$T
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Philip Morris International Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by $25 to $175, based on a 2027 P/E of 18.9x, a justified premium to PM's 10-year average forward P/E of 17.9x due to its smoke-free growth prospects. We raise our adjusted EPS estimates by $0.05 to $8.50 for '26 and by $0.05 to $9.25 for '27. Following PM's earnings release, we are lowering our price target and maintaining a Hold on the shares. PM's Q1 results were solid, continuing its streak of better-than-expected earnings (nine straight quarters without a miss). While PM's smoke-free pivot has been extremely successful, we have concerns regarding slowing growth going forward and consider the shares fairly valued after the stock's outperformance over the past two years. PM has been one of the best-performing names in the Consumer Staples sector recently, with the stock rising 34% in 2024, followed by a 38% gain in 2025 (vs. increases of 23% and 16%, respectively, for the S&P 500).

$PM
Wire

Top Midday Stories: GE Vernova Shares Gain on Strong Q1 Earnings, Guidance; Vertiv Lifts Guidance After Q1 EPS, Revenue Beats, Shares Fall

All three major US stock indexes were up in late-morning trading Wednesday following reports of Iranian attacks on vessels in the Strait of Hormuz and President Donald Trump's extension of the ceasefire between the warring nations.In company news, GE Vernova (GEV) reported Q1 earnings Wednesday of $17.44 per share, up from $0.91 a year earlier. Total Q1 revenue was $9.34 billion, up from $8.03 billion a year ago and above the FactSet consensus analyst estimate of $9.25 billion. For 2026, the company said it expects revenue of about $44.5 billion to $45.5 billion, up from its previous outlook of $44 billion to $45 billion and compared to the FactSet consensus of $44.66 billion. GE Vernova shares were up 12.4% around midday.Vertiv (VRT) reported Q1 adjusted earnings Wednesday of $1.17 per diluted share, up from $0.64 a year earlier and above the FactSet consensus of $1.00. First-quarter revenue was $2.65 billion, up from $2.04 billion a year ago and above the FactSet consensus of $2.64 billion. For Q2, the company said it expects adjusted EPS of $1.37 to $1.43 on revenue of $3.25 billion to $3.45 billion. Analysts polled by FactSet expect $1.43 and $3.40 billion, respectively. For full-year 2026, Vertiv said it expects adjusted EPS of $6.30 to $6.40, up from its previous outlook of $5.97 to $6.07 and above the FactSet consensus of $6.12. Vertiv expects full-year revenue to be $13.50 billion to $14.00 billion, up from its previous guidance of $13.25 billion to $13.75 billion and compared to the FactSet consensus of $13.63 billion. Vertiv shares were down 2.6%.Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical have expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that could be valued at over $8 billion, Reuters reported Wednesday, citing people familiar with the matter. Merck shares were down 0.2%, while Inhibrx shares were up 31.9%.Boeing (BA) reported a Q1 core loss Wednesday of $0.20 per share, narrowing from a loss of $0.49 a year earlier and compared to the FactSet consensus estimate of a loss of $0.68. First-quarter revenue was $22.22 billion, up from $19.50 billion a year ago and above the FactSet consensus of $21.85 billion. Cash outflow for the quarter was $1.45 billion, narrowing from $2.29 billion a year ago, and the company said Q1 deliveries increased 10% to 143 planes. Boeing shares were up 5.4%.Alphabet's (GOOG, GOOGL) Google Cloud is launching a $750 million fund to help consulting firms like Accenture (ACN), McKinsey and Deloitte get their clients to use agentic AI software, Bloomberg reported Wednesday, citing an emailed statement and an interview with a company official. Alphabet's Class C and Class A shares were up 1.5% and 1.6%, respectively. Accenture shares were down 1.9%.Philip Morris International (PM) reported Q1 adjusted earnings Wednesday of $1.96 per diluted share, up from $1.69 a year earlier and above the FactSet consensus of $1.83. Net Q1 revenue was $10.15 billion, up from $9.30 billion ay ear ago and above the FactSet consensus of $9.91 billion. For Q2, Philip Morris said it expects adjusted EPS of $2.02 to $2.07, below the FactSet consensus of $2.12. For full-year 2026, the company said it expects adjusted EPS of $8.36 to $8.51, compared to the FactSet consensus of $8.38. Philip Morris shares were up 7%.Boston Scientific (BSX) reported Q1 adjusted earnings Wednesday of $0.80 per share, up from $0.75 a year earlier and above the FactSet consensus of $0.79. First-quarter net sales were $5.20 billion, up from $4.66 billion a year ago and above the FactSet consensus of $5.17 billion. For Q2, Boston Scientific said it expects adjusted EPS of $0.82 to $0.84 and net sales growth of 5.5% to 7.5%. Analysts polled by FactSet expect adjusted EPS of $0.86. For full-year 2026, the company said it expects adjusted EPS of $3.34 to $3.41, down from its prior outlook of $3.43 to $3.49 and below the FactSet consensus of $3.45. Full-year net sales are now expected to grow about 7.0% to 8.5%, down from the company's previous guidance of 10.5% to 11.5% growth. Shares of the company were up 8.4%.AT&T (T) reported Q1 earnings Wednesday of $0.54 per diluted share, down from $0.61 a year earlier and below the FactSet consensus of $0.55. First-quarter operating revenue was $31.51 billion, up from $30.63 billion a year ago and above the FactSet consensus of $31.25 billion. AT&T shares were down 1.8%.Price: $1119.35, Change: $+128.05, Percent Change: +12.92%

$ACN$BSX$GEV$INBX$MRK$PM$T$VRT

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