Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches. The company offers its services under the Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises, and Cunard brand. Additionally, it sells its cruises primarily through travel agents, tour operators, vacation planners, and websites. Carnival Corporation & plc was founded in 1972 and is headquartered in Miami, Florida.

Carnival appears to be a company that has already noticeably restored its profitability, but still carries a heavy balance sheet burden from past shocks. The valuation picture is mixed across multiples: P/E is below the industry median, and P/FCF also looks moderate, which supports the idea of a not overly expensive valuation against the backdrop of recovered earnings and cash flow. At the same time, P/S and P/B are above industry benchmarks, so the market is already pricing in part of the business improvement and does not leave much margin of safety. The trend in P/E and P/FCF has generally improved, which usually indicates better earnings quality and free cash flow generation. The company’s strength is its high profitability: ROE, ROA, operating margin, and net margin are above the industry median and have remained stable in recent periods. This means the business is able to generate earnings from revenue better than many comparable players, even with high capital intensity. The weak point is liquidity: the quick ratio and current ratio are very low, indicating limited short-term buffer and dependence on stable cash flow. Debt burden also remains high: debt/equity is significantly above the industry level, and debt in absolute terms is large, although long-term debt has been gradually declining. This is an important risk for valuation, because if demand weakens or rates rise, financial leverage could quickly weigh on the cost of capital. Revenue and profit generally remain at high levels, and net income and EBITDA confirm that the operational recovery is not a one-off. Equity is growing, which supports the balance sheet, but the absolute size of liabilities still materially limits any rerating. Dividend yield is low and is not a key part of the investment case, so it only weakly supports the valuation. Overall, the fundamentals are moderately positive, but due to the high debt burden, weak liquidity, and already not-cheap multiples, the potential for valuation rerating is limited.

Carnival Corporation Ltd.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, без изменений. Рынок не поддерживает быков.

Strong index, flat. The market does not support the bulls.

Средний индекс, значительно упал. Отток средств из лонгов резко увеличился и находится на высоком уровне.

Medium index, significantly down. The outflow of funds from longs has increased sharply and is at a high level.

Carnival’s profitability and margins are strong, but its high debt burden and weak liquidity constrain the valuation, so the fundamentals look only moderately positive.

Carnival Corporation Ltd. CCL is entering the second half of fiscal 2026 with its booked position ahead of last year and prices at record levels, supported by resilient close-in demand and robust onboard spending. The company reported record yields in the fiscal second quarter, while customer deposits reached an all-time high of $9 billion. Management noted that 93% of its 2026 business was already booked, with less inventory remaining for sale than a year ago.
The strength of Carnival’s forward bookings is also extending into 2027. Since the beginning of the fiscal second quarter, the company has seen booking volumes and pricing for future sailings run ahead of last year's levels, with bookings for its European deployments in 2027 up in the mid-teens percentage range year over year at higher prices. The company stated that its overall 2027 book position is at historical highs for both price and occupancy, reinforcing its confidence in the longer-term demand outlook.
However, sustaining pricing momentum in 2026 could remain challenging as Carnival navigates geopolitical uncertainty and uneven regional demand. The prolonged Middle East conflict weighed particularly on European deployments, while higher airfares and reduced international flight capacity affected North American travelers. Carnival lowered its European occupancy expectations by a couple of points, while the impact of the Middle East conflict on European deployments contributed to a roughly 1-percentage-point reduction in full-year yield guidance.
Nevertheless, recent booking trends indicate that the pressure may be easing. Management stated that June appeared to mark a turning point, with booking trends showing a reversal of the European headwinds. Carnival expects record yields in the second half of fiscal 2026.
Carnival appears well positioned to sustain pricing momentum, although the pace of yield growth could remain uneven as European demand normalizes. The combination of an extended booking curve, higher forward pricing, disciplined capacity growth and stronger revenue-management capabilities provides support for yields. If booking strength persists and geopolitical pressures continue to recede, Carnival’s extended booking curve should likely provide support for yield growth and the company’s earnings outlook. The company expects adjusted EPS for fiscal 2026 to be $2.22, up from the previous outlook of $2.21.
Key Peers Show Diverging Booking Trends
Royal Caribbean Group RCL is benefiting from strong demand and pricing momentum across its cruise portfolio. In the second quarter, the company reported net yield growth of 1.2%, with results exceeding expectations as close-in demand, particularly for Caribbean sailings, accelerated. RCL said its book position was at record prices for 2026, while booking trends for 2027 were pacing ahead of historical levels. Management also noted that its 2027 book position was at historical highs for both price and occupancy and at higher rates across its portfolio. Although geopolitical disruptions have weighed modestly on European bookings, RCL continues to expect full-year net yield growth of 1.75%-2.25%.
Norwegian Cruise Line Holdings Ltd. NCLH is taking a more turnaround-focused approach as it works to rebuild demand and strengthen its booking position. The company reported a 2.6% decline in second-quarter net yields and expects full-year net yields to decrease approximately 5%, reflecting a softer demand environment, and marketing and demand-generation challenges. NCLH is revamping its revenue-management strategy by moving toward a base loading methodology, which involves more competitive pricing earlier in the booking curve to build demand sooner and support stronger close-in yields. Management expects these marketing, demand-generation and revenue-management initiatives to take time to translate into financial results.
CCL’s Price Performance, Valuation & Estimates
Shares of Carnival have declined 15.2% over the past three months against the industry’s 1.9% growth.
CCL Stock’s Three-Month Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, CCL trades at a forward price-to-earnings ratio of 9.39, significantly below the industry’s average of 16.55.
CCL’s P/E Ratio (Forward 12-Month) vs. Industry
The Zacks Consensus Estimate for CCL’s fiscal 2026 earnings implies a year-over-year decline of 0.9%. The EPS estimates for fiscal 2026 have increased in the past 30 days.
EPS Trend of CCL Stock
CCL stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Carnival's Record Booking Curve Extends: Will Pricing Momentum Last?

The S&P 500 Index ($SPX) (SPY) closed up by +0.46% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.56%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.23%. E-mini S&P futures (ESU26) rose +0.46%, and September E-mini Nasdaq futures (NQU26) rose +0.23%.
Stocks settled higher on Wednesday as T-note yields stabilized. The 10-year T-note yield finished little changed at 4.79% on Wednesday after a weaker-than-expected Aug ADP employment report eased Fed rate hike expectations slightly, boosting stocks. Stock gains accelerated on dovish comments from New York Fed President Williams, who said inflation is continuing to trend down.
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Wednesday’s US economic news was mixed for stocks after July factory orders rose more than expected, but the Aug ADP employment change rose less than expected.
Stock index futures initially moved lower in overnight trade as US-Iran hostilities pushed crude oil prices to a 6-week high and the 10-year T-note yield up to a 2.75-year high of 4.82%.
The global bond sell-off generally continued on Wednesday, pushing bond yields to multi-year highs and undercutting stocks. The UK 10-year gilt yield surged to a 19-year high of 5.29%, the German 10-year bund yield jumped to a 15-year high of 3.39%, the Japanese 10-year JGB bond yield surged to a 30-year high of 3.04%, and the 10-year T-note yield rose to a 2.75-year high of 4.82%.
US MBA mortgage applications rose +0.8% in the week ended August 28, with the purchase mortgage sub-index up +2.2% and the refinancing mortgage sub-index down -1.1%. The average 30-year fixed-rate mortgage rose +1 bp to 6.79% from 6.78% in the prior week.
The US Aug ADP employment change rose by +38,000, showing a slightly weaker labor market than expectations of +47,000.
US July factory orders rose +0.9% m/m, stronger than expectations of +0.7% m/m. Also, July factory orders ex-transportation rose +0.6% m/m, stronger than expectations of +0.4% m/m.
New York Fed President John Williams said, "The data recently has been encouraging. I am actually seeing the trend in inflation moving slowly down as some of the effects of the tariffs move into the rearview mirror."
The Fed Beige Book was positive for stocks as it stated that economic activity in the Fed's 12 districts in the period through August 24 "increased modestly," with prices accelerating moderately in most districts. Also, “healthy labor demand was seen most frequently in manufacturing, construction and some service sectors, while retail and hospitality sectors saw falling labor demand."
Oct WTI crude oil prices (CLV26) climbed to a fresh 6-week high on Wednesday as fighting intensified between the US and Iran. The US carried out a second round of strikes in three days overnight, targeting radar systems and mine-laying capabilities along Iran's southern coast. Iran retaliated with drone and missile attacks on US bases across the Middle East. Also, Axios reported that the US attacked two Iranian tankers anchored off Iran’s north coast under a new “tanker for tanker” policy approved by President Trump to further deter Iranian attacks on tankers that move through the Strait of Hormuz. Gains in crude were limited as supply concerns abated slightly after US Energy Secretary Wright said that over 17 million bbl of oil went through the Strait of Hormuz on Monday.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 489 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 60% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled lower on Wednesday. The Euro Stoxx 50 dropped to a 1-month low and closed down -0.11%. China's Shanghai Composite closed down -0.97%. Japan's Nikkei-225 Stock Average fell to a 4-week low and closed down -2.85%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +1 tick on Wednesday. The 10-year T-note yield fell -0.4 bp to 4.794%. T-notes recovered from a 1.75-year nearest-futures low today and turned higher, and the 10-year T-note yield fell from a 2.75-year high of 4.816% and moved lower. Short covering emerged and pushed T-notes higher after the Aug ADP employment change rose less than expected, and after New York Fed President Williams said inflation is continuing to trend down. Gains in T-notes were limited after WTI crude oil climbed to a 6-week high, which boosted inflation expectations and is hawkish for Fed policy.
European government bond yields moved higher on Wednesday. The 10-year German bund yield climbed to a 15-year high of 3.395% and finished up +3.2 bp to 3.376%. The 10-year UK gilt yield jumped to a 19-year high of 5.289% and finished up +1.0 bp to 5.230%.
ECB Governing Council member and Bundesbank President Joachim Nagel warned that "inflation isn't close to our medium-term target" and said, "markets are pricing in a probability of more than 95% that we'll raise interest rates at our September meeting, and I'd say that the markets have a rather good understanding of how we're likely to respond at this stage."
Markets are discounting a 99% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Strength in chipmakers on Wednesday supported the broader market. Nvidia (NVDA) closed up more than +3% to lead gainers in the Dow Jones Industrials. Also, NXP Semiconductors (NXPI), Micron Technology (MU), and Qualcomm (QCOM) closed up more than +2%. In addition, Intel (INTC), Microchip Technology (MCHP), and ASML Holding NV (ASML) closed up more than 1%.
Airlines and cruise line operators moved higher on Wednesday after crude oil prices stabilized. United Airlines Holdings (UAL) closed up more than +3%, and Alaska Air Group (ALK), Delta Air Lines (DAL), Southwest Airlines (LUV), and Carnival (CCL) closed up more than +2%. Also, American Airlines Group (AAL) and Norwegian Cruise Line Holdings (NCLH) closed up more than +1%.
Palo Alto Networks (PANW) closed down more than -9% to lead cybersecurity stocks lower and losers in the S&P 500 and Nasdaq 100 after reporting Q4 subscription and support revenue of $2.67 billion, below the consensus of $2.68 billion. Also, CrowdStrike Holdings (CRWD) closed down more than -5%, and Cloudflare (NET), SentinelOne (S), and Fortinet (FTNT) closed down more than -4%. In addition, Zscaler (ZS) closed down more than -3% and Okta (OKTA) closed down more than -2%.
Dell Technologies (DELL) closed up more than +15% to lead gainers in the S&P 500 after reporting Q2 total net revenue of $46.97 billion, well above the consensus of $44,78 billion, and raising its 2027 revenue forecast to $192 billion from a previous forecast of $165 billion to $169 billion, stronger than the consensus of $173.76 billion.
Gitlab (GTLB) closed up more than +9% after boosting its 2027 revenue forecast to $1.13 billion from a previous forecast of $1.11 billion to $1.12 billion, better than the consensus of $1.12 billion.
SiriusXM (SIRI) closed up more than +7% after Deutsche Bank upgraded the stock to buy from hold with a price target of $45.
Brown-Forman (BF.B) closed up more than +3% after reporting a Q1 gross margin of 60.2%, better than the consensus of 58.6%.
Credo Technology (CRDO) closed down more than -20% despite reporting better-than-expected Q EPS as the company failed to exceed its Q1 adjusted gross margin estimate of 68%.
MongoDB (MDB) closed down more than -13% despite reporting better-than-expected Q2 EPS as revenue growth in the company’s Atlas product didn’t accelerate in Q2 versus Q1.
G-III Apparel Group Ltd (GIII) closed down more than -11% after reporting Q2 net sales of $554.1 million, weaker than the consensus of $570.3 million, and forecasting Q3 net sales of about $870 million, below the consensus of $899 million.
Edison International (EIX) closed down more than -6%, and PG&E (PCG) closed down more than -5% after analysts said it is unlikely that California legislators will hold a special session to pass a wildfire liability bill favorable to utilities.
Earnings Reports (9/3/2026)
Campbell's Company/The (CPB), Ciena Corp (CIEN), DocuSign Inc (DOCU), Guidewire Software Inc (GWRE), Lululemon Athletica Inc (LULU), Planet Labs PBC (PL), Samsara Inc (IOT), Toro Co/The (TTC), UiPath Inc (PATH), Zscaler Inc (ZS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Settle Higher as Bond Yields Stabilize

The S&P 500 Index ($SPX) (SPY) is up by +0.50% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.79%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.17%. E-mini S&P futures (ESU26) are up +0.49%, and September E-mini Nasdaq futures (NQU26) are up +0.15%.
Stock index futures recovered from overnight losses and are moving higher today as a retreat in crude oil prices knocked bond yields lower. Crude oil prices gave up an overnight advance and turned lower today when US Energy Secretary Wright said that over 17 million bbl of oil went through the Strait of Hormuz on Monday, easing supply concerns. That knocked the 10-year T-note yield down -1 bp to 4.79%, benefiting stocks. Gains in stocks accelerated on dovish comments for New York Fed President Williams, who said inflation is continuing to trend down.
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Today’s US economic news was mixed for stocks after July factory orders rose more than expected, but the Aug ADP employment change rose less than expected.
Stock index futures initially moved lower in overnight trade as US-Iran hostilities pushed crude oil prices to a 6-week high and the 10-year T-note yield up to a 2.75-year high of 4.82%. Stocks were under pressure as global bond yields stayed elevated on US-Iran hostilities, which extended crude oil’s advance and threatened to worsen the inflation outlook.
The global bond sell-off generally continued today, pushing bond yields to multi-year highs and undercutting stocks. The UK 10-year gilt yield surged to a 19-year high of 5.29%, the German 10-year bund yield jumped to a 15-year high of 3.39%, the Japanese 10-year JGB bond yield surged to a 30-year high of 3.04%, and the 10-year T-note yield rose to a 2.75-year high of 4.82%.
US MBA mortgage applications rose +0.8% in the week ended August 28, with the purchase mortgage sub-index up +2.2% and the refinancing mortgage sub-index down -1.1%. The average 30-year fixed-rate mortgage rose +1 bp to 6.79% from 6.78% in the prior week.
The US Aug ADP employment change rose by +38,000, showing a slightly weaker labor market than expectations of +47,000.
US July factory orders rose +0.9% m/m, stronger than expectations of +0.7% m/m. Also, July factory orders ex-transportation rose +0.6% m/m, stronger than expectations of +0.4% m/m.
New York Fed President John Williams said, "The data recently has been encouraging. I am actually seeing the trend in inflation moving slowly down as some of the effects of the tariffs move into the rearview mirror."
Oct WTI crude oil prices (CLV26) fell from a 6-week high today and turned lower as supply concerns abated after US Energy Secretary Wright said that over 17 million bbl of oil went through the Strait of Hormuz on Monday. Crude prices initially rallied in overnight trade as fighting intensified between the US and Iran. The US carried out a second round of strikes in three days overnight, targeting radar systems and mine-laying capabilities along Iran's southern coast. Iran retaliated with drone and missile attacks on US bases across the Middle East. Also, Axios reported that the US attacked two Iranian tankers anchored off Iran’s north coast under a new “tanker for tanker” policy approved by President Trump to further deter Iranian attacks on tankers that move through the Strait of Hormuz.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 489 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 67% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are lower today. The Euro Stoxx 50 dropped to a 1-month low and is down -0.01%. China's Shanghai Composite closed down -0.97%. Japan's Nikkei-225 Stock Average fell to a 4-week low and closed down -2.85%.
Interest Rates
December 10-year T-notes (ZNZ6) are up by +2 ticks today. The 10-year T-note yield is down -0.4 bp to 4.794%. T-notes recovered from a 1.75-year nearest-futures low today and turned higher, and the 10-year T-note yield fell from a 2.75-year high of 4.816% and moved lower. Short covering emerged and pushed T-notes higher after WTI crude fell from a 6-week high and turned lower, easing inflation expectations. T-notes remained slightly higher after the Aug ADP employment change rose less than expected, and after New York Fed President Williams said inflation is continuing to trend down.
European government bond yields are moving higher today. The 10-year German bund yield climbed to a 15-year high of 3.395% and is up +3.3 bp to 3.376%. The 10-year UK gilt yield jumped to a 19-year high of 5.289% and is up +1.4 bp to 5.234%.
ECB Governing Council member and Bundesbank President Joachim Nagel warned that "inflation isn't close to our medium-term target" and said, "markets are pricing in a probability of more than 95% that we'll raise interest rates at our September meeting, and I'd say that the markets have a rather good understanding of how we're likely to respond at this stage."
Markets are discounting a 99% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Strength in chipmakers today is providing support to the broader market. Nvidia (NVDA) is up more than +3% to lead gainers in the Nasdaq 100 and Dow Jones Industrials. Also, NXP Semiconductors (NXPI) is up more than +2%, and Microchip Technology (MCHP), Analog Devices (ADI), Qualcomm (QCOM), and Texas Instruments (TXN) are up more than 1%.
Airlines and cruise line operators are moving higher today after crude oil prices turned lower, a positive factor for the companies’ profitability. United Airlines Holdings (UAL) is up more than +4%, and Alaska Air Group (ALK) is up more than +3%. Also, American Airlines Group (AAL), Delta Air Lines (DAL), Southwest Airlines (LUV), and Norwegian Cruise Line Holdings (NCLH) are up more than +2%. In addition, Carnival (CCL) and Royal Caribbean Cruises (RCL) are up more than +1%.
Palo Alto Networks (PANW) is down more than -7% to lead cybersecurity stocks lower and lead losers in the Nasdaq 100 after reporting Q4 subscription and support revenue of $2.67 billion, below the consensus of $2.68 billion. Also, CrowdStrike Holdings (CRWD) and Fortinet (FTNT) are down more than -4%, and Okta (OKTA) is down more than +3%. In addition, Cloudflare (NET) and SentinelOne (S) are down more tan -2%, and Zscaler (ZS) is down more than -1%.
Gitlab (GTLB) is up more than +16% after boosting its 2027 revenue forecast to $1.13 billion from a previous forecast of $1.11 billion to $1.12 billion, better than the consensus of $1.12 billion.
SiriusXM (SIRI) is up more than +5% after Deutsche Bank upgraded the stock to buy from hold with a price target of $45.
Dell Technologies (DELL) is up more than +4% after reporting Q2 total net revenue of $46.97 billion, well above the consensus of $44,78 billion, and raising its 2027 revenue forecast to $192 billion from a previous forecast of $165 billion to $169 billion, stronger than the consensus of $173.76 billion.
Brown-Forman (BF.B) is up more than +3% after reporting a Q1 gross margin of 60.2%, better than the consensus of 58.6%.
Credo Technology (CRDO) is down more than -18% despite reporting better-than-expected Q EPS as the company failed to exceed its Q1 adjusted gross margin estimate of 68%.
MongoDB (MDB) is down more than -9% despite reporting better-than-expected Q2 EPS as revenue growth in the company’s Atlas product didn’t accelerate in Q2 versus Q1.
PG&E (PCG) is down more than -8% to lead losers in the S&P 500, and Edison International (EIX) is down more than -6% after analysts said it is unlikely that California legislators will hold a special session to pass a wildfire liability bill favorable to utilities.
G-III Apparel Group Ltd (GIII) is down more than -7% after reporting Q2 net sales of $554.1 million, weaker than the consensus of $570.3 million, and forecasting Q3 net sales of about $870 million, below the consensus of $899 million.
Earnings Reports (9/2/2026)
Broadcom Inc (AVGO), Brown-Forman Corp (BF/B), Five Below Inc (FIVE), Hewlett Packard Enterprise Co (HPE), NetApp Inc (NTAP), Ollie's Bargain Outlet Holding (OLLI), PVH Corp (PVH), Snowflake Inc (SNOW).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Push Higher as Crude Oil and Bond Yields Stabilize

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*Stock prices used were the afternoon prices of Aug. 27, 2026. The video was published on Aug.29, 2026.
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Carnival Cruise Stock is an Interesting Situation With Significant Upside

The S&P 500 Index ($SPX) (SPY) closed down by -0.33% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.70%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.08%. E-mini S&P futures (ESU26) fell -0.28%, and September E-mini Nasdaq futures (NQU26) rose +0.07%.
Stock indices settled mostly lower on Monday, with the Dow Jones Industrial Average falling to a 1-week low on a flare-up in geopolitical risks. The broader market was under pressure on Monday as renewed Middle East tensions boosted crude oil prices, raised inflation expectations, pushed bond yields higher, and complicated the US inflation outlook. WTI crude oil rose more than +2% on Monday after the US and Iran exchanged strikes for the first time in about a month. The 10-year T-note yield jumped to a 19-month high of 4.77% on Monday.
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Stocks also had some negative carryover from last Friday when Fed Chair Warsh vowed to bring inflation back to target and said financial conditions aren’t restrictive, bolstering the chance of a Fed rate hike next month. The chance of a Fed interest rate hike at next month’s FOMC meeting rose to 65% on Monday, up from 36% before he spoke last Friday.
On the positive side, energy producers rose on Monday after crude oil prices rallied and cryptocurrency stocks rose after Bitcoin climbed more than 2%. Cybersecurity stocks also rose on Monday, supporting gains in the Nasdaq 100.
Chinese economic news was mixed after China's Aug manufacturing PMI rose +0.6 to 49.8, stronger than expectations of 49.5. However, the Aug non-manufacturing PMI was unchanged at 49.0, weaker than expectations of an increase to 49.4.
Oct WTI crude oil prices (CLV26) jumped more than +2% on Monday to a 1-week high as Middle East tensions flared. The US Central Command said it targeted Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and Iran retaliated by firing missiles and drones at US air bases in Jordan, while the United Arab Emirates said it intercepted drones from Iran. Crude prices added to their gains on Monday when Axios reported that President Trump is weighing limited strikes against Iran to prevent it from reconstituting its radar and missile capabilities to attack ships in the Strait of Hormuz.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 486 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 65% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Monday. The Euro Stoxx 50 closed down -1.01%. China's Shanghai Composite rose to a 1.5-week high and closed up +0.85%. Japan's Nikkei-225 Stock Average closed down -0.14%.
Interest Rates
September 10-year T-notes (ZNU6) closed down -6.5 ticks on Monday. The 10-year T-note yield rose +3.6 bp to 4.754%. T-notes tumbled to a 19-month nearest-futures low on Monday, and the 10-year T-note yield rose to a 19-month high of 4.766%. T-notes retreated on Monday after the +2% surge in WTI crude oil prices to a 1-week high boosted inflation expectations. T-notes are also being pressured by negative carryover from last Friday when hawkish comments from Fed Chair Warsh pushed the chances of a Fed rate hike at next month’s FOMC meeting up to 65% on Monday from 36% before he spoke.
European government bond yields moved higher on Monday. The 10-year German bund yield jumped to a 15-year high of 3.327% and finished up +4.5 bp to 3.324%. The 10-year UK gilt did not trade on Monday, with markets in the UK closed for a holiday.
German Aug CPI (EU harmonized) rose +0.2% m/m and +2.9% y/y, weaker than expectations of +0.3% m/m and +3.1% y/y.
Markets are discounting a 99% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Airlines and cruise line operators fell on Monday after WTI crude oil rose more than +2% to a 1-week high, boosting fuel costs and curbing the companies’ profitability. Carnival (CCL) and Royal Caribbean Cruises (RCL) closed down more than -3%, and United Airlines Holdings (UAL), Delta Air Lines (DAL), Alaska Air Group (ALK), Southwest Airlines (LUV), and Norwegian Cruise Line Holdings (NCLH) closed down more than -2%. Also, American Airlines Group (AAL) closed down more than -1%.
Housing stocks and building suppliers moved lower on Monday after the 10-year T-note yield rose to a 19-month high, boosting mortgage rates and undercutting housing demand. DR Horton (DHI), Lennar (LEN), and KB Home (KBH) closed down more than -2%, and Pulte Group (PHM), Toll Brothers (TOL), and Builders Firstsource (BLDR) closed down more than -1%.
Energy producers and service providers moved higher on Monday after WTI crude oil rose more than +2% to a 1-week high. SLB Ltd (SLB) closed up more than +4%, and ExxonMobil Holdings (XOM), and Devon Energy (DVN) closed up more than +2%. Also, Chevron (CVX) closed up more than +2% to lead gainers in the Dow Jones Industrials, and Apa Corp (APA), Diamondback Energy (FANG), Baker Hughes (BKR), ConocoPhillips (COP), Occidental Petroleum (OXY), Halliburton (HAL), Marathon Petroleum (MPC), Phillips 66 (PSX), and Valero Energy (VLO) closed up more than +1%.
Cryptocurrency stocks rose on Monday after Bitcoin (^BTCUSD) jumped more than +2%. Circle Internet Group (CRCL) closed up more than +9%, and Coinbase Global (COIN) and Galaxy Digital Holdings (GLXY) closed up more than +5%. Also, Strategy (MSTR) and Iren Ltd (IREN) closed up more than +4%, and MARA Holdings (MARA) closed up +0.66%.
CrowdStrike Holdings (CRWD) closed up more than +5% to lead gainers in the S&P 500 and Nasdaq 100 and lead cybersecurity stocks higher after announcing a strategic partnership with Clear Secure that integrates the CLEAR1 identity platform with the CrowdStrike Falcon platform. Also, Okta (OKTA) closed up more than +4%, and Palo Alto Networks (PANW), Zscaler (ZS), Fortinet (FTNT), and SentinelOne (S) closed up more than +2%. In addition, Cloudflare (NET) closed up more than +1%.
Edison International (EIX) closed down more than -23% to lead losers in the S&P 500, and PG&E Corp (PCG) closed down more than -19% after California lawmakers introduced a bill that would update the state’s wildfire response without shifting liability away from publicly traded utilities.
Aon Plc (AON) closed down more than -9% on reports that it will acquire KKR & Co’s USI Insurance Services for $17 billion.
Howmet Aerospace (HWM) closed down more than -7%, and GE Vernova (GEV) closed down more than -1% after Elon Musk said SpaceX and Tesla are each building 100 GW/year of solar production capacity, which will reduce the companies’ reliance on natural-gas-powered turbines.
Pinterest (PINS) closed down more than -6% after announcing CFO Donnelly will step down effective October 30 after three years with the company.
CNH Industrial (CNH) closed up more than +1% after Baird upgraded the stock to outperform from neutral with a price target of $15.
Science Applications International (SAIC) closed up more than +1% after reporting Q2 revenue of $1.88 billion, better than the consensus of $1.76 billion, and raising its 2027 revenue forecast to $7.2 billion to $7.3 billion from a previous forecast of $7.0 billion to $7.2 billion, stronger than the consensus of $7.19 billion.
Kaiser Aluminum (KALU) closed up more than +1% after UBS upgraded the stock to buy from neutral with a price target of $184.
Earnings Reports (9/1/2026)
Credo Technology Group Holding (CRDO), Dell Technologies Inc (DELL), Gitlab Inc (GTLB), Medtronic PLC (MDT), MongoDB Inc (MDB), Palo Alto Networks Inc (PANW).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Finish Mostly Lower as Rising Crude Boosts Bond Yields

The S&P 500 Index ($SPX) (SPY) is down by -0.50% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.67%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.29%. E-mini S&P futures (ESU26) are down -0.48%, and September E-mini Nasdaq futures (NQU26) are down -0.30%.
Stock indices are under pressure today, with the Dow Jones Industrial Average falling to a 1-week low on a flare-up in geopolitical risks. Renewed Middle East tensions are boosting crude oil prices, raising inflation expectations, bond yields, and complicating the US inflation outlook. WTI crude oil is up more than +2% today after the US and Iran exchanged strikes for the first time in about a month. The 10-year T-note yield jumped to a 19-month high today at 4.76%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks also have some negative carryover from last Friday when Fed Chair Warsh vowed to bring inflation back to target and said financial conditions aren’t restrictive, bolstering the chance of a Fed rate hike next month. The chance of a Fed interest rate hike at next month’s FOMC meeting is 65% today, up from 36% before he spoke last Friday.
Chinese economic news was mixed after China's Aug manufacturing PMI rose +0.6 to 49.8, stronger than expectations of 49.5. However, the Aug non-manufacturing PMI was unchanged at 49.0, weaker than expectations of an increase to 49.4.
Oct WTI crude oil prices (CLV26) jumped more than +2% today to a 1-week high as Middle East tensions flared. The US Central Command said it targeted Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and Iran retaliated by firing missiles and drones at US air bases in Jordan, while the United Arab Emirates said it intercepted drones from Iran. Crude prices added to their gains today when President Trump said the US will respond to Iran's latest attacks on US forces.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 486 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 65% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.65%. China's Shanghai Composite rose to a 1.5-week high and closed up +0.85%. Japan's Nikkei-225 Stock Average closed down -0.14%.
Interest Rates
September 10-year T-notes (ZNU6) are down -5 ticks today. The 10-year T-note yield is up +3.6 bp to 4.754%. T-notes tumbled to a 19-month nearest-futures low today, and the 10-year T-note yield rose to a 19-month high of 4.764%. T-notes are sliding today as the +3% surge in WTI crude oil prices to a 1-week high boosts inflation expectations. T-notes are also being pressured by negative carryover from last Friday when hawkish comments from Fed Chair Warsh pushed the chances of a Fed rate hike at next month’s FOMC meeting up to 65% today from 36% before he spoke.
European government bond yields are moving higher today. The 10-year German bund yield jumped to a 15-year high of 3.324% and is up +3.7 bp to 3.316%. The 10-year UK gilt is not trading, with markets in the UK closed today for a holiday.
German Aug CPI (EU harmonized) rose +0.2% m/m and +2.9% y/y, weaker than expectations of +0.3% m/m and +3.1% y/y.
Markets are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Airlines and cruise line operators are falling today, with WTI crude oil up more than +2% at a 1-week high, which boosts fuel costs and curbs the companies’ profitability. American Airlines Group (AAL), United Airlines Holdings (UAL), Delta Air Lines (DAL), Alaska Air Group (ALK), Southwest Airlines (LUV), Carnival (CCL), Royal Caribbean Cruises (RCL), and Norwegian Cruise Line Holdings (NCLH) are all down more than -2%.
Housing stocks and building suppliers are weaker today as the 10-year T-note yield rises to a 19-month high, boosting mortgage rates and undercutting housing demand. DR Horton (DHI), Lennar (LEN), Pulte Group (PHM), KB Home (KBH), Toll Brothers (TOL), Builders Firstsource (BLDR), and Home Depot (HD) are down more than -1%.
Energy producers and service providers are moving higher today, with WTI crude oil up +2% at a 1-week high. SLB Ltd (SLB) is up more than +3%, and ExxonMobil Holdings (XOM), Devon Energy (DVN), and Halliburton (HAL) are up more than +2%. Also, Chevron (CVX) is up more than +2% to lead gainers in the Dow Jones Industrials, and Diamondback Energy (FANG), Baker Hughes (BKR), ConocoPhillips (COP), and Occidental Petroleum (OXY) are up more than +1%.
Edison International (EIX) is down more than -23% to lead losers in the S&P 500 and PG&E Corp (PCG) is down more than -19% and after California lawmakers introduced a bill that would update the state’s wildfire response without shifting liability away from publicly traded utilities.
Howmet Aerospace (HWM) is down more than 7%, and GE Vernova (GEV) is down more than 2% after Elon Musk said SpaceX and Tesla are each building 100 GW/year of solar production capacity, which will reduce the companies’ reliance on natural-gas-powered turbines.
Aon Plc (AON) is down more than -7% on reports that it will acquire KKR & Co’s USI Insurance Services for $17 billion.
Pinterest (PINS) is down more than -5% after announcing CFO Donnelly will step down effective October 30 after three years with the company.
CrowdStrike Holdings (CRWD) is up more than +4% to lead gainers in the S&P 500 and Nasdaq 100 after announcing a strategic partnership with Clear Secure that integrates the CLEAR1 identity platform with the CrowdStrike Falcon platform.
CNH Industrial (CNH) is up more than +3% after Baird upgraded the stock to outperform from neutral with a price target of $15.
Science Applications International (SAIC) is up more than +2% after reporting Q2 revenue of $1.88 billion, better than the consensus of $1.76 billion, and raising its 2027 revenue forecast to $7.2 billion to $7.3 billion from a previous forecast of $7.0 billion to $7.2 billion, stronger than the consensus of $7.19 billion.
Kaiser Aluminum (KALU) is up more than +1% after UBS upgraded the stock to buy from neutral with a price target of $184.
Earnings Reports (8/31/2026)
Critical Metals Corp (CRML), Science Applications International Corp (SAIC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Fall as Rising Geopolitical Risks Boost Crude Oil and Bond Yields

The S&P 500 Index ($SPX) (SPY) is down by -0.42% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.23%. E-mini S&P futures (ESU26) are down -0.40%, and September E-mini Nasdaq futures (NQU26) are down -0.18%.
Stock indices are under pressure today, with the Dow Jones Industrial Average falling to a 1-week low. Renewed Middle East tensions are boosting crude oil prices, raising inflation expectations, bond yields, and complicating the US inflation outlook. WTI crude oil is up more than +2% today after the US and Iran exchanged strikes for the first time in about a month. The 10-year T-note yield jumped to a 19-month high today at 4.75%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks also have some negative carryover from last Friday when Fed Chair Warsh vowed to bring inflation back to target and said financial conditions aren’t restrictive, bolstering the chance of a Fed rate hike next month. The chance of a Fed interest rate hike at next month’s FOMC meeting is 64% today, up from 36% before he spoke last Friday.
Chinese economic news was mixed after China's Aug manufacturing PMI rose +0.6 to 49.8, stronger than expectations of 49.5. However, the Aug non-manufacturing PMI was unchanged at 49.0, weaker than expectations of an increase to 49.4.
Oct WTI crude oil prices (CLV26) jumped more than +2% today to a 1-week high as Middle East tensions flared. The US Central Command said it targeted Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and Iran retaliated by firing missiles and drones at US air bases in Jordan, while the United Arab Emirates said it intercepted drones from Iran. Crude prices added to their gains today when President Trump said the US will respond to Iran's latest attacks on US forces.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 486 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 64% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.21%. China's Shanghai Composite rose to a 1.5-week high and closed up +0.85%. Japan's Nikkei-225 Stock Average closed down -0.14%.
Interest Rates
September 10-year T-notes (ZNU6) are down -5 ticks today. The 10-year T-note yield is up +3.2 bp to 4.750%. T-notes tumbled to a 19-month nearest-futures low today, and the 10-year T-note yield rose to a 19-month high of 4.754%. T-notes are sliding today as the +3% surge in WTI crude oil prices to a 1-week high boosts inflation expectations. T-notes are also being pressured by negative carryover from last Friday when hawkish comments from Fed Chair Warsh pushed the chances of a Fed rate hike at next month’s FOMC meeting up to 63% from 36% before he spoke.
European government bond yields are moving higher today. The 10-year German bund yield jumped to a 15-year high of 3.317% and is up +3.5 bp to 3.314%. The 10-year UK gilt is not trading, with markets in the UK closed today for a holiday.
German Aug CPI (EU harmonized) rose +0.2% m/m and +2.9% y/y, weaker than expectations of +0.3% m/m and +3.1% y/y.
Markets are discounting a 96% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Airlines and cruise line operators are falling today, with WTI crude oil up more than +2% at a 1-week high, which boosts fuel costs and curbs the companies’ profitability. American Airlines Group (AAL), United Airlines Holdings (UAL), Delta Air Lines (DAL), Alaska Air Group (ALK), Southwest Airlines (LUV), Carnival (CCL), Royal Caribbean Cruises (RCL), and Norwegian Cruise Line Holdings (NCLH) are all down more than -2%.
Energy producers and service providers are moving higher today, with WTI crude oil up +2% at a 1-week high. SLB Ltd (SLB) and Halliburton (HAL) are up more than +4%, and Devon Energy (DVN) and Diamondback Energy (FANG) are up more than +3%. Also, APA Corp (APA), Baker Hughes (BKR), ConocoPhillips (COP), ExxonMobil Holdings (XOM), and Occidental Petroleum (OXY) are up more than +2%, and Chevron (CVX) is up more than +2% to lead gainers in the Dow Jones Industrials. In addition, Marathon Petroleum (MPC), Phillips 66 (PSX), and Valero Energy (VLO) are up more than +1%.
Edison International (EIX) is down more than -19% to lead losers in the S&P 500 and PG&E Corp (PCG) is down more than -18% and after California lawmakers introduced a bill that would update the state’s wildfire response without shifting liability away from publicly traded utilities.
Howmet Aerospace (HWM) is down more than 6% and GE Vernova (GEV) is down more than 2% after Elon Musk said SpaceX and Tesla are each building 100 GW/year of solar production capacity, which will reduce the companies’ reliance on natural-gas-powered turbines.
Pinterest (PINS) is down more than -4% after announcing CFO Donnelly will step down effective October 30 after three years with the company.
CrowdStrike Holdings (CRWD) is up more than +5% to lead gainers in the S&P 500 and Nasdaq 100 after announcing a strategic partnership with Clear Secure that integrates the CLEAR1 identity platform with the CrowdStrike Falcon platform.
Science Applications International (SAIC) is up more than +5% after reporting Q2 revenue of $1.88 billion, better than the consensus of $1.76 billion, and raising its 2027 revenue forecast to $7.2 billion to $7.3 billion from a previous forecast of $7.0 billion to $7.2 billion, stronger than the consensus of $7.19 billion.
Kaiser Aluminum (KALU) is up more than +4% after UBS upgraded the stock to buy from neutral with a price target of $184.
CNH Industrial (CNH) is up more than +1% after Baird upgraded the stock to outperform from neutral with a price target of $15.
Earnings Reports (8/31/2026)
Critical Metals Corp (CRML), Science Applications International Corp (SAIC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Pressured as Soaring Crude Prices Boost Bond Yields

Oxford Industries, Inc. OXM is likely to post a year-over-year increase in its bottom line when it reports second-quarter fiscal 2026 results on Sept. 3, after market close. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.32 per share, indicating an increase of 4.8% from the prior-year number. The consensus estimate for earnings has been stable in the past 30 days.
The consensus estimate for quarterly revenues is pegged at $393.2 million, indicating a dip of 2.5% year over year.
In the last reported quarter, the company delivered an earnings surprise of 9.5%. It has a negative trailing four-quarter earnings surprise of 65.8%, on average.
Factors Likely to Have Impacted OXM’s Q2 Earnings
Oxford Industries’ quarterly results are expected to benefit from efforts to optimize its sourcing network, mitigate tariff-related cost pressures and safeguard margins. The company is also implementing targeted price increases on new products to offset higher costs while carefully managing consumer demand. Meanwhile, its continued focus on expanding direct-to-consumer sales across retail and e-commerce is expected to have supported margin improvement and strengthen customer engagement.
In addition, Oxford Industries is strengthening Tommy Bahama through improved assortments, stronger execution of key products, product innovation and lifestyle-focused storytelling, while focusing on expanding its women’s business. At Johnny Was, the company is pursuing a turnaround by tightening inventory purchases, reducing promotional activity, enhancing merchandise productivity and refining its assortment and marketing strategies. OXM is also rationalizing the Johnny Was store base by closing underperforming locations and creating a more productive and efficient retail footprint.
For Lilly Pulitzer, Oxford is improving merchandising and marketing by addressing entry-price gaps, product allocation, assortment and brand messaging, while responding more quickly to changes in demand. The company is also working to grow Beaufort Bonnet Company and Duck Head through stronger brand storytelling and broader distribution. The company is maintaining strict control over expenses and inventory, limiting discretionary spending and reducing unnecessary promotions to protect profitability. Such endeavors are likely to have aided OXM’s performance during the quarter under review.
On the flip side, Oxford Industries has been facing headwinds, including higher tariff-related costs and continued uncertainty around trade policies. The company is also dealing with cautious consumer spending and weaker discretionary demand amid economic and geopolitical uncertainty. Performance at Lilly Pulitzer remains under pressure, particularly in e-commerce, with merchandising gaps, product assortment issues, entry price points and brand messaging affecting sales.
Johnny Was is also experiencing weakness in its wholesale business, especially among specialty stores, while its direct-to-consumer sales remain soft. In addition, declining demand from specialty retailers and challenges at certain retail partners, including Saks Global, are weighing on wholesale performance. Such factors are likely to have hurt the company’s top-line performance during the quarter under review. The Zacks Consensus Estimate for Lilly Pulitzer and Johnny Was revenues is pegged at $84 million and $39.50 million, respectively, showing year-over-year decreases of 6.7% and 13%.
Oxford Industries, Inc. Price and EPS Surprise
What the Zacks Model Unveils for OXM
Our proven model does not conclusively predict an earnings beat for Oxford Industries this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Oxford Industries has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter.
OXM’s Valuation Picture
From a valuation perspective, Oxford Industries has a forward 12-month price-to-earnings ratio of 13.50X, below the five-year high of 17.83X and the Textile - Apparel industry’s average of 14.86X.
The recent market movements show that OXM’s shares have gained 2% in the past six months against the industry's 7.5% decline.
Stocks With the Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Boyd Gaming Corporation BYD currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.
Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.
The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.
Carnival CCL currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter.
The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average.
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Oxford Industries Set to Report Q2 Earnings: What's in the Offing?

The Toro Company TTC is likely to post a year-over-year increase in its top and bottom lines when it reports third-quarter fiscal 2026 results on Sept. 3, before market open. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.30 per share, indicating an increase of 4.8% from the prior-year number. The consensus estimate for earnings has been stable in the past 30 days.
The consensus estimate for quarterly revenues is pegged at $1.2 billion, indicating a rise of 5.2% year over year.
In the last reported quarter, the company delivered an earnings surprise of 6.7%. It has a trailing four-quarter earnings surprise of 7%, on average.
Factors Likely to Have Impacted TTC’s Q3 Earnings
Toro’s quarterly results are expected to reflect benefits from the ongoing execution of its strategic efforts. It is focused on driving growth through its AMP productivity program, which leverages lean principles, Kaizen events and continuous improvements to generate cost savings and improve operational efficiency. In addition, the company is seeing strength across its Toro, Exmark and Ventrac brands.
The company is also streamlining its manufacturing footprint, workforce and product portfolio to strengthen margins and offset inflationary and tariff pressures. Toro is increasing investments in electrification, smart-connected products, autonomous solutions, Artificial Intelligence and advanced manufacturing technologies to enhance product innovation and efficiency.
The company is expanding its underground construction business through strong demand for Ditch Witch equipment and the integration of Tornado, while also seeking to increase parts and service penetration. In golf, Toro is advancing autonomous solutions to help customers improve productivity and address labor constraints. The company also remains open to disciplined acquisitions, particularly in the Professional segment, where it can leverage existing capabilities and technology to enter adjacent markets. All the aforesaid factors are likely to boost TTC’s results in the quarter under review.
The Zacks Consensus Estimate for Professional and Residential segments’ sales is pegged at $983 million and $197 million, respectively, showing year-over-year increases of 5.6% and 2.1%.
On the flip side, Toro continues to face headwinds, including higher material and fuel costs, tariff expenses, inflation and challenging consumer confidence. Residential demand remains pressured by cautious consumers, with some homeowners trading down to lower-priced products, while weakness in European residential markets is also weighing on international performance.
Toro Company (The) Price and EPS Surprise
What the Zacks Model Unveils for TTC
Our proven model does not conclusively predict an earnings beat for Toro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Toro has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter.
TTC’s Valuation Picture
From a valuation perspective, Toro’s shares are trading at a premium relative to the industry benchmarks. The stock has a forward 12-month price-to-earnings ratio of 20.29X, above the five-year median of 19.26X and the Tools - Handheld industry’s average of 19.57X.
The recent market movements show that Toro shares have gained 0.9% in the past six months compared with the industry's 3% growth.
Stocks With the Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Boyd Gaming Corporation BYD currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.
Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.
The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.
Carnival CCL currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter.
The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average.
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This article originally published on Zacks Investment Research (zacks.com).

Toro Set to Report Q3 Earnings: Here's What Investors Should Know

PVH Corporation PVH is likely to post a year-over-year increase in its bottom line when it reports second-quarter fiscal 2026 results on Sept. 2, after market close. The Zacks Consensus Estimate for quarterly earnings is pegged at $3.08 per share, indicating an increase of 22.2% from the prior-year number. However, the consensus estimate for revenues has dipped a penny in the past 30 days.
The consensus estimate for quarterly revenues is pegged at $2.1 billion, indicating a decrease of 3.2% year over year.
In the last reported quarter, the company delivered an earnings surprise of 11.7%. It has a trailing four-quarter earnings surprise of 16.5%, on average.
Factors Likely to Have Impacted PVH’s Q2 Earnings
PVH Corp.’s quarterly results are expected to reflect continued benefits from the ongoing execution of the PVH+ Plan and improving momentum across its iconic brands, Calvin Klein and Tommy Hilfiger. The company has been witnessing strength in direct-to-consumer (DTC) channels, particularly e-commerce, supported by stronger consumer engagement, increased traffic and focused marketing investments. The company is focused on strengthening its core brands by targeting key consumer segments, expanding product innovation and concentrating on high-potential categories. The Zacks Consensus Estimate for DTC revenues is pegged at $1 billion for the quarter under review.
Calvin Klein is emphasizing underwear and denim, while Tommy Hilfiger is focusing on sweaters, outerwear, shirts and knits. PVH is also accelerating its shift toward a more data and demand-driven operating model. Its enterprise data platform and partnerships with OpenAI and Salesforce are helping connect consumer, product and operational insights to improve decision-making and respond more quickly to demand. The company is simultaneously investing in its shopping experience, including e-commerce, stores and shop-in-shops, while strengthening its supply chain and inventory management. The Zacks Consensus Estimate for Calvin Klein and Tommy Hilfiger brands’ revenues is pegged at $953 million and $1.1 billion, respectively, showing sequential increases of 6.5% and 2.9%.
On its lastearnings call PVH had forecast a non-GAAP operating margin of about 9.5%, up from 8.2% in the year-ago period, reflecting an estimated positive impact of roughly 470 basis points tied to tariff refunds. Management had projected non-GAAP earnings to be $3.00-$3.10 per share compared with $2.52 a year ago, including an estimated $0.05 per-share benefit from foreign currency translation.
However, PVH continues to operate against a challenging global consumer backdrop. The prolonged Middle East conflict has been weighing on the EMEA business through weaker wholesale demand in the Middle East, reduced tourism and softer demand in Turkey, as well as lower consumer traffic and spending across Europe. Higher fuel costs and weak consumer sentiment are likely to have remained pressure points. Tariffs also remain a significant margin headwind. In addition, cautious wholesale partners, particularly in APAC, continued to weigh on sales, while higher marketing investments and softer revenue expectations are contributing to SG&A deleverage. These challenges could weigh on PVH’s performance.
On its lastearnings call PVH had expected approximately $195 million in gross tariff costs in EBIT, equivalent to an unfavorable impact of about 215 basis points on operating margin, although tariff refunds and mitigation actions are expected to have partly offset the pressure. PVH had expected second-quarter fiscal 2026 revenues to decline 3-4% year over year, with revenues projected to decrease 4-5% on a constant-currency basis.
PVH Corp. Price and EPS Surprise
What the Zacks Model Unveils for PVH
Our proven model does not conclusively predict an earnings beat for PVH Corp. this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
PVH Corp. has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter.
PVH’s Valuation Picture
From a valuation perspective, PVH Corp.’s shares present an attractive opportunity, trading at a discount relative to historical and industry benchmarks. With a forward 12-month price-to-earnings ratio of 6.01X, below the five-year median of 7.73X and the Textile - Apparel industry’s average of 14.99X, the stock offers compelling value for investors seeking exposure to the sector.
The recent market movements show that PVH’s shares have gained 8.7% in the past six months against the industry's 6.1% decline.
Stocks With the Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Boyd Gaming Corporation BYD currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.
Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.
The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.
Carnival CCL currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter.
The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average.
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