International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on skills integration for strategy, experience, technology, and operations by domain and industry. The Infrastructure segment provides on-premises and cloud based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, facilitates IBM clients' acquisition of hardware, software, and services. The company has a strategic partnership to various companies including hyperscalers, service providers, global system integrators, and software and hardware vendors that includes Adobe, Amazon Web services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.

Компания IBM демонстрирует сильные фундаментальные показатели, такие как высокая рентабельность (ROE 36.76) и сильные маржи прибыли (операционная маржа 16.08 и чистая маржа 15.69), что указывает на её способность эффективно управлять затратами и генерировать прибыль. Тем не менее, мультипликаторы, такие как P/E (26.40) и P/B (9.83), находятся на высоком уровне по сравнению с медианой отрасли, что может указывать на переоцененность акций. Долговая нагрузка компании также вызывает беспокойство; коэффициент долга к капиталу (1.68) значительно превышает медиану отрасли, что может повысить финансовые риски. Несмотря на это, рост выручки и чистой прибыли указывает на положительную динамику бизнеса. Дивидендная доходность, хотя и снизилась до 0.58, все еще остается привлекательной, но это также может быть сигналом о возможных финансовых трудностях. В целом, учитывая все вышеперечисленные факторы, целесообразно пересмотреть целевую цену, чтобы учесть риски, связанные с долгами и высокой оценкой акций.

International Business Machines Corporation

(RTTNews) - International Business Machines Corp. (IBM) has just announced that it is planning to expand its quantum and microelectronics campus in Chicago, Illinois, with a fresh investment that's set to create 750 jobs over the coming five years.
The company is rolling out a new innovation hub called the FutureNow Chicago center, located at the Illinois Quantum and Microelectronics Park, which spans 128 acres on the South Side of the city. This project will receive around $19 million in support through state tax credits, further boosting efforts to develop a more robust tech ecosystem in the area.
This new center is expected to work as an innovation and delivery hub, assisting IBM's clients and partners with complex tech and business challenges while also nurturing local talent. As part of this initiative, IBM plans to team up with City Colleges of Chicago to kick off an apprenticeship program and is committed to hiring some of its graduates.
Illinois Governor JB Pritzker pointed out that this investment underscores the state's rising significance in advanced technologies like quantum computing and microelectronics.
IBM's Chairman and CEO, Arvind Krishna, explained that this project will enhance the company's delivery capabilities and help cultivate the next generation of tech talent. The initiative is also aimed at promoting long-term economic growth by aligning workforce development programs with the needs of emerging industries.
The first phase of this larger technology campus is anticipated to wrap up by 2027, positioning Chicago as a central hub for innovation in quantum computing and advanced semiconductor technologies.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IBM To Expand Illinois Tech Hub, Add 750 Jobs Over Five Years

Earnings Season Surprises

In early trading on Monday, shares of Verizon Communications topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. Year to date, Verizon Communications registers a 17.1% gain.
And the worst performing Dow component thus far on the day is International Business Machines, trading down 1.5%. International Business Machines is lower by about 22.8% looking at the year to date performance.
Two other components making moves today are Apple, trading down 1.3%, and Nike, trading up 1.4% on the day.
VIDEO: Dow Movers: IBM, VZ
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Dow Movers: IBM, VZ

Arm (NASDAQ: ARM) is pursuing a much larger role in enterprise AI through its partnership with IBM (NYSE: IBM), which could change how investors view its long-term upside. The opportunity looks compelling, but with the stock already pricing in a lot of success, the real tension is whether execution can keep up.
Stock prices used were the market prices of April 22, 2026. The video was published on April 24, 2026.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is It Too Late to Buy Arm Stock?

Key Points
Rigetti’s stock has plunged 70% from its all-time high.
It still looks overvalued in this frothy market.
Rigetti Computing (NASDAQ: RGTI), a developer of quantum computing chips and systems, went public through a merger with a special purpose acquisition company (SPAC) four years ago. Its stock started trading at $9.75, set a record high of $56.34 last October, but now trades at about $17. Let's see why Rigetti pulled back, and why it could sink even lower this year.
What does Rigetti Computing do?
Unlike classical computers, which store their data in binary bits of zeros and ones, quantum computers can store those zeros and ones simultaneously in qubits. That difference allows them to process more data and perform certain tasks faster than their classical counterparts, but they're also larger, pricier, less accurate, and consume more power. That's why they're still primarily used for niche research projects rather than mainstream computing applications.
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Newer quantum computing companies, such as Rigetti, are addressing those issues with cheaper and more scalable systems. Rigetti produces modular and non-modular quantum processing units (QPUs), installs them in its own quantum systems, and allows developers to create their own quantum algorithms on its cloud-based Quantum Computing Services (QCS) platform. By bundling its hardware and software, Rigetti is a full-stack quantum computing company that serves as a "one-stop shop" for companies investing in the nascent technology.
Why could Rigetti's stock tumble in 2026?
Rigetti's business strategy sounds promising, but it still generates most of its revenue from government and research contracts -- as well as its smaller cloud-based business -- rather than its sales of QPUs and custom quantum systems.
As of this writing, it's sold only a handful of its Novera 9-qubit QPUs, which are stand-alone, non-modular systems. It launched its 84-qubit, non-modular Ankaa QPU in 2024, but it's only used to run its cloud-based platform and internal tests. Its new Cepheus-1-36Q system, a 36-qubit system running on four modular 9-qubit chips, was built for the same purposes.
From 2025 to 2028, analysts expect Rigetti's revenue to rise from $7.1 million to $110.8 million. That outlook seems incredible, but it assumes Rigetti can ramp up its Novera shipments, scale its modular Cepheus systems, and expand QCS.
The recent launch of its 108-qubit system, Cepheus-1-108Q, and its plans to launch a 1,000+ qubit system in 2027 could support that aggressive expansion. But with a market cap of $5.6 billion, Rigetti is already valued at more than 50 times its projected 2028 sales. It's also expected to stay unprofitable for the foreseeable future, so its ongoing dilution -- which has already nearly tripled its share count since its SPAC merger -- will likely continue.
Meanwhile, Rigetti faces intense competition from other quantum computing companies using newer technologies. Rigetti, like many older quantum computing companies, uses electron-based systems that require cryogenic cooling. Newer technologies -- such as IonQ's (NYSE: IONQ) trapped ion chips and QCi's (NASDAQ: QUBT) photonic chips -- don't need to be refrigerated. IonQ's systems, which use delicate lasers to trap ions in a quantum state, can also achieve higher fidelity (error detection) rates than electron-based systems.
The macroeconomic headwinds could also prompt organizations to rein in spending on expensive quantum computing projects. They could also drive investors away from speculative stocks like Rigetti, which already have too much growth baked into their frothy valuations. That might be why its insiders sold 16 times as many shares as they bought over the past 12 months.
Could Rigetti still be a worthwhile investment?
Rigetti has a few irons in the fire, but it's too hot to handle in this wobbly market. That could set it up for a steep decline this year if it misses Wall Street's rosy estimates.
Instead of Rigetti, investors looking for better quantum plays should stick with IonQ, which has clearer plans for the future and trades at 27 times its 2028 sales, or IBM (NYSE: IBM), which is growing more slowly but has already deployed dozens of quantum systems to run trillions of programs.
Should you buy stock in Rigetti Computing right now?
Before you buy stock in Rigetti Computing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rigetti Computing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
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*Stock Advisor returns as of April 25, 2026.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends International Business Machines and IonQ. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prediction: Rigetti Computing Stock Is Going to Plummet in 2026

As the Q1 earnings season progresses, Texas Instruments TXN) and IBM IBM) have provided a pivotal moment that has reconfirmed market sentiment more than reshaped it.
The reconfirmation is that semiconductor companies are still prime investments right now, thanks to AI data center expansion, but that AI may start to eat the lunch of software companies, and the segments of tech giants exposed to or dependent on software operations.
Texas Instruments may not be at the forefront of investors' minds regarding the AI data center boom, but its Q1 results showed it's a promising player in the landscape. On the other hand, there are growing concerns that IBM’s software segment could come under pressure despite posting favorable quarterly results as well.
Following their Q1 reports on Wednesday, TXN shares have spiked to a new 52-week high and kept the rally going among chip stocks, with IBM falling near a one-year low and reigniting a pullback in software stocks amid AI disruption fears.
Image Source: Zacks Investment Research
Texas Instruments’ Data Center Expansion
Notably, Texas Instruments’ data center business focuses on supplying the power, signal-conditioning, and interface chips that keep AI data centers running. Because Texas Instruments sells analog and power-management components rather than full systems, its chips are purchased through original equipment manufacturers (OEMs) and server manufacturers, making customer identification indirect.
That said, its largest buyers are thought to be the major hyperscalers such as Amazon AMZN), Microsoft MSFT), Alphabet GOOGL), and Meta Platforms META) — all of which operate massive data center footprints across the United States.
Keeping this in mind, Texas Instruments reported that its data center segment revenue soared 90% year over year during Q1 and grew more than 25% sequentially.
This helped drive Q1 sales up 19% YoY to $4.82 billion, eclipsing estimates of $4.51 billion by nearly 7%.
Image Source: Zacks Investment Research
Taking advantage of the surging data center demand that has boosted its analog and embedded processing businesses, Texas Instruments’ Q1 earnings spiked 31% YoY to $1.68 per share and came in 22% above EPS expectations of $1.37.
Image Source: Zacks Investment Research
Why IBM’s Slower Software Growth Sparked Concerns
Despite concerns of slower software segment growth, IBM was also able to post solid Q1 results with quarterly sales increasing 9% YoY to $15.91 billion and EPS rising 19% to $1.91. These figures topped sales and EPS estimates by 1% and 5%, respectively.
Image Source: Zacks Investment Research
Software revenue grew 11% YoY, but this was down from 14% growth in the previous quarter, marking a clear deceleration after delivering accelerating sequential growth for several quarters.
It’s noteworthy that IBM’s software segment consists of four major operational pillars: Hybrid Platform & Solutions, Red Hat (open source software platform), Transaction Processing, and AI Data Automation Products. Together, they form the core of IBM’s recurring-revenue, which is why the market is concerned about the slowdown.
Analysts have noted that AI-driven competitive pressure and emerging generative AI tools could erode demand for IBM’s traditional software offerings. The disruptors include AI-native tools like Anthropic’s COBOL-modernization AI.
Conclusion & Strategic Thoughts
Outside of the nuances in their quarterly reports, Texas Instruments ignited favorable momentum by raising its revenue and EPS outlook for Q2, while IBM underwhelmed investors by leaving its full-year guidance unchanged and citing geopolitical and macroeconomic uncertainties as reasons for caution.
More upside does look apparent for semiconductor leaders like Texas Instruments, with TXN currently sporting a Zacks Rank #2 (Buy) based on a trend of positive EPS revisions.
IBM stock currently lands a Zacks Rank #3 (Hold) as a steady growth narrative is still there, although its EPS revisions have started to trend lower in the last 30 days. This pattern has been seen across many software stocks and those with exposure to the software as a service (SaaS) realm. However, the reignited selloff in the space could create longer-term opportunities if fears of AI disruptions become overdone, especially for prominent companies like IBM that have a variety of global business services and solutions, including hardware offerings.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Texas Instruments & IBM's Q1 Reports were Crucial to Market Sentiment

Pre-market futures are off their early morning highs, but still mostly in positive territory. Cease-fire talks look promising, as Iran reportedly is sending negotiators to Pakistan and plans are for an Israel-Lebanon summit in the U.S. But the Strait of Hormuz remains closed, and even though Q1 earnings continue to come in strong, there remain plenty of question marks on the horizon.
The Nasdaq is by far the outperformer among major indexes at this hour, +315 points or +1.17%, partly on strong Q1 numbers from Intel INTC yesterday after the close. The S&P 500 is +22 points, +0.31% and the small-cap Russell 2000 is +10, +0.37%. Only the blue-chip Dow is in the red currently: -70 points, -0.14%, largely on IBM’s IBM reported struggles in the software space in its earnings results yesterday.
Earnings Reports at a Glance
Procter & Gamble PG surpassed expectations on both top and bottom lines in its fiscal Q3 report this morning. Earnings of $1.59 per share beat the Zacks consensus by 3 cents, while revenues of $21.24 billion in the quarter outpaced estimates by +3.5%, and nicely ahead of the $19.78 billion reported in the year-ago quarter.
Oilfield services major SLB SLB, formerly Schlumberger, beat estimates on its bottom line by a penny, and revenues of $8.32 billion were ahead of projections by +1.1%. But the high valuation of the stock (+42.6% year to date) is playing a factor in the stock’s -3.6% selloff ahead of the open.
What to Expect from the Stock Market Today
At 10am ET, the final print for U.S. Consumer Sentiment from the University of Michigan comes out. This highly respected metric saw an -11% drop month over month in the earlier release, to a record-low 47.6. Expectations are for this to bump up a percentage point or so, but still in relatively weak territory.
Business conditions dropped -20% in the last report, while inflation expectations jumped +100 basis points (bps) to +4.8%. We look for these figures to moderate somewhat, as well, but the early stages of the Iran war were fraught with negative sentiment. We don’t expect revisions to completely erase this narrative.
What’s In Store Next Week on Wall Street
Q1 earnings season accelerates further next week, featuring results from Alphabet GOOGL, Amazon AMZN, Meta Platforms META and Microsoft MSFT, among many others — and these all on Tuesday afternoon. We’ll also see housing data from Case-Shiller and Housing Starts and Building Permits, along with a new Trade Balance and Leading Economic Indicators (LEI).
The marquee reports will be the Federal Open Market Committee (FOMC) meeting concluding Wednesday (spoiler alert: the Fed will not be moving rates either direction) and Personal Consumption Expenditures (PCE) released the following day. This will likely be Fed Chair Jerome Powell’s final meeting of his 8-year tenure, depending what happens with current nominee Kevin Warsh. PCE is generally considered to be the Fed’s favored gauge of inflation, but the Fed will be drawing on this report from the prior month.
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Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tech Earnings Ahead

Friday, April 24th, 2026
Pre-market futures are off their early morning highs, but still mostly in positive territory. Cease-fire talks look promising, as Iran reportedly is sending negotiators to Pakistan and plans are for an Israel-Lebanon summit in the U.S. But the Strait of Hormuz remains closed, and even though Q1 earnings continue to come in strong, there remain plenty of question marks on the horizon.
The Nasdaq is by far the outperformer among major indexes at this hour, +315 points or +1.17%, partly on strong Q1 numbers from Intel INTC yesterday after the close. The S&P 500 is +22 points, +0.31% and the small-cap Russell 2000 is +10, +0.37%. Only the blue-chip Dow is in the red currently: -70 points, -0.14%, largely on IBM’s IBM reported struggles in the software space in its earnings results yesterday.
Earnings Reports at a Glance
Procter & Gamble PG surpassed expectations on both top and bottom lines in its fiscal Q3 report this morning. Earnings of $1.59 per share beat the Zacks consensus by 3 cents, while revenues of $21.24 billion in the quarter outpaced estimates by +3.5%, and nicely ahead of the $19.78 billion reported in the year-ago quarter. For more on PG’s earnings, click here.
Oilfield services major SLB SLB, formerly Schlumberger, beat estimates on its bottom line by a penny, and revenues of $8.32 billion were ahead of projections by +1.1%. But the high valuation of the stock (+42.6% year to date) is playing a factor in the stock’s -3.6% selloff ahead of the open. For more on SLB's earnings, click here.
What to Expect from the Stock Market Today
At 10am ET, the final print for U.S. Consumer Sentiment from the University of Michigan comes out. This highly respected metric saw an -11% drop month over month in the earlier release, to a record-low 47.6. Expectations are for this to bump up a percentage point or so, but still in relatively weak territory.
Business conditions dropped -20% in the last report, while inflation expectations jumped +100 basis points (bps) to +4.8%. We look for these figures to moderate somewhat, as well, but the early stages of the Iran war were fraught with negative sentiment. We don’t expect revisions to completely erase this narrative.
What’s In Store Next Week on Wall Street
Q1 earnings season accelerates further next week, featuring results from Alphabet GOOGL, Amazon AMZN, Meta Platforms META and Microsoft MSFT, among many others — and these all on Tuesday afternoon. We’ll also see housing data from Case-Shiller and Housing Starts and Building Permits, along with a new Trade Balance and Leading Economic Indicators (LEI).
The marquee reports will be the Federal Open Market Committee (FOMC) meeting concluding Wednesday (spoiler alert: the Fed will not be moving rates either direction) and Personal Consumption Expenditures (PCE) released the following day. This will likely be Fed Chair Jerome Powell’s final meeting of his 8-year tenure, depending what happens with current nominee Kevin Warsh. PCE is generally considered to be the Fed’s favored gauge of inflation, but the Fed will be drawing on this report from the prior month.
Questions or comments about this article and/or author? Click here>>
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Earnings Season, Middle East Truce Talks, Gain Favor

Key Points
Oil prices moved higher as tensions remained in the Strait of Hormuz.
Software stocks plunged after reports from ServiceNow and IBM.
Investors still seem to believe that AI will disrupt the enterprise software sector.
Two days after President Trump extended a ceasefire with Iran, the two countries remained at a stalemate over the Strait of Hormuz.
The U.S. continued to enforce a blockade it announced after the ceasefire agreement, while Iran is also blocking the waterway as the two countries are seemingly battling for control of the Strait. Oil prices rose on the ongoing shutdown as investors seem to be betting that the closure will endure.
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Stocks fell, meanwhile, in part due to stalled progress in the conflict, but also due to a collapse in the software sector after ServiceNow (NYSE: NOW) and IBM (NYSE: IBM) both reported earnings last night. While the results were in line with estimates, investors still found reason for concern at a time when fears of AI disruption have swept the software sector this year, causing a massive sell-off.
As a result, the Nasdaq Composite led all three indexes lower, closing down 0.9%, while the S&P 500 fell 0.4%.
The software sell-off continues
An ETF that tracks the software sector, the iShares Expanded Tech-Software Sector ETF (NYSEMKT: IGV) fell nearly 6% today, and is now down 22% year-to-date, though it's bounced off lows earlier this month and was up 20% from its bottom before today's plunge.
Though the numbers from ServiceNow and IBM were mostly fine, they didn't overcome broader concerns about AI disruption in the sector. Additionally, investors seemed underwhelmed with both companies' decisions to maintain their guidance for the full year, excluding ServiceNow's acquisition of cybersecurity firm Armis.
IBM cited uncertainty in the global economy stemming from the conflict in the Middle East for holding its guidance even after beating estimates on both the top and bottom lines, while ServiceNow said it rarely raises its full-year guidance after just one quarter.
ServiceNow touted that 50% of its net new business is coming from non-seat-based pricing, including tokens and connectors, showing it's diversifying away from its traditional business model, but that strategy seemed to weigh on its margins as its cost of revenues jumped 44% to $940 million, meaning gross profit rose just 16.1% to $2.83 billion, below the 22% revenue growth it reported. Even after adjustments, subscription gross margin fell from 84.5% to 81.5%, and it lost money on professional services.
If that pattern holds, ServiceNow's margins are likely to shrink further as the company appears to be sacrificing margin in order to maintain its revenue growth. IBM didn't experience the same headwinds as ServiceNow, though it makes less than half of its revenue from software.
What it means for investors
What was notable about today's software sell-off is that the reports from ServiceNow and IBM were enough to drive down the whole sector, even though they make up just a small fraction of the IGV ETF.
For now, it shows that despite the recent recovery in software stocks, investors remain skeptical and continue to buy into the AI disruption narrative, meaning that AI programs like Anthropic's Claude Code will take away business from enterprise software companies.
We'll learn more as earnings season goes on, but the bar will remain high for software stocks as long as that narrative remains.
Should you buy stock in iShares Trust - iShares Expanded Tech-Software Sector ETF right now?
Before you buy stock in iShares Trust - iShares Expanded Tech-Software Sector ETF, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and iShares Trust - iShares Expanded Tech-Software Sector ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $502,837!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,241,433!*
Now, it’s worth noting Stock Advisor’s total average return is 977% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 23, 2026.
Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends International Business Machines and ServiceNow. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

With the Iran War In a Stalemate, Software Takes Center Stage

The S&P 500 Index ($SPX) (SPY) on Thursday closed down -0.41%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.57%. June E-mini S&P futures (ESM26) fell -0.42%, and June E-mini Nasdaq futures (NQM26) fell -0.59%.
Stock indexes erased early gains on Thursday and settled lower as peace talks with Iran remain in limbo. The US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire. The US said it was waiting for a response from Iran before peace talks could restart, and Iran said it will not resume negotiations while a US naval blockade on its ports is in place. Stock losses accelerated on Thursday amid signs the war in Iran will persist after President Trump said a deal with Iran will only be made "when it's appropriate and good" for the US and its allies.
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Stock index initially moved higher on Thursday, with the S&P 500 and Nasdaq 100 posting new all-time highs amid a rally in chipmakers that boosted the broader market. Texas Instruments rose more than +19% to lead chipmakers higher after reporting strong earnings. Other positive earnings were also supportive of the market, with United Rentals up +22% and Comcast up more than +7% after reporting better-than-expected Q1 revenue. Also, Keurig Dr. Pepper rose more than +7% after reporting stronger-than-expected Q1 net sales.
The weakness in software stocks on Thursday was a negative factor for the broader market, with ServiceNow falling more than -17% after reporting disappointing earnings and saying the war in the Middle East has delayed some sales deals. Also, IBM fell more than -8% after reporting Q1 results that featured an underwhelming read for its software business.
Thursday’s US economic news was mixed for stocks. Weekly initial unemployment claims rose by +6,000 to 214,000, showing a weaker labor market than expectations of 210,000. Also, the Mar Chicago Fed national activity index fell -0.23 to a 4-month low of -0.20, weaker than expectations of -0.13. Conversely, the Apr S&P manufacturing PMI rose +1.7 to 54.0, stronger than expectations of 52.5 and the strongest level in nearly 4 years.
WTI crude oil prices (CLM26) rose more than +3% on Thursday as the Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. Gains in crude oil accelerated on Thursday after Axios reported that Iran laid more mines in the Strait of Hormuz this week, and President Trump ordered the US Navy to "shoot and kill" any Iranian boats laying mines with "no hesitation." The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait.
Earnings season continues this week. So far, 81% of the 123 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
The markets are discounting a 1% chance for a +25 bp FOMC rate hike at the April 28-29 policy meeting.
Overseas stock markets settled lower on Thursday. The Euro Stoxx 50 fell to a 2-week low and closed down -0.19%. China's Shanghai Composite fell from a 1.25-month high and closed down -0.32%. Japan's Nikkei Stock 225 fell from a record high and closed down -0.75%.
Interest Rates
June 10-year T-notes (ZNM6) on Thursday closed down -7.5 ticks. The 10-year T-note yield rose +1.9 bp to 4.322%. Jun T-notes fell to a 1.5-week low on Thursday, and the 10-year T-note yield rose to a 1.5-week high of 4.349%. Soaring crude oil prices on Thursday pushed inflation expectations higher and weighed on T-notes, as the 10-year breakeven inflation rate rose to a 5-week high of 2.429%. Losses in T-notes were limited after weekly US jobless claims rose more than expected, a dovish factor for Fed policy.
European government bond yields moved higher on Thursday. The 10-year German bund yield rose +0.1 bp to 3.009%. The 10-year UK gilt yield rose to a 3.5-week high of 4.973% and finished up by +2.9 bp to 4.939%.
The Eurozone Apr S&P manufacturing PMI unexpectedly rose +0.6 to 52.2, stronger than expectations of a decline to 50.9 and the fastest pace of expansion in nearly four years. However, the Apr composite PMI fell -2.1 to 48.6, weaker than expectations of 50.1 and the weakest level in 17 months.
Eurozone Mar new car registrations rose +12.5% y/y to 1.158 million units, the biggest increase in nearly two years.
The UK Apr S&P manufacturing PMI unexpectedly rose +2.6 to 53.6, stronger than expectations of a decline to 50.3 and the fastest pace of expansion in nearly four years.
Swaps are discounting a 9% chance of a +25 bp ECB rate hike at its next policy meeting on April 30.
US Stock Movers
ServiceNow (NOW) closed down more than -17% to lead software stocks lower and lead losers in the S&P 500 after cutting its full-year subscription adjusted gross margin forecast to 81.5% from 82%, weaker than the consensus of 82.1%. Also, Workday (WDAY) closed down more than -9% to lead losers in the Nasdaq 100, and Salesforce (CRM) closed down more than -8% to lead losers in the Dow Jones Industrials. In addition, IBM (IBM) and Atlassian (TEAM) closed down more than -8%, and Intuit (INTU), Adobe Systems (ADBE), and Autodesk (ADSK) closed down more than -6%. Finally, Oracle (ORCL) closed down more than -5%, and Microsoft (MSFT) closed down -4%.
Texas Instruments (TXN) closed up more than +19% to lead chipmakers higher and gainers in the Nasdaq 100 after reporting Q1 revenue of $4.83 billion, better than the consensus of $4.53 billion, and forecasting Q2 revenue of $5.00 billion to $5.40 billion, well above the consensus of $4.85 billion. Also, ON Semiconductor (ON) and Microchip Technology (MCHP) closed up more than +9%, and NXP Semiconductors NV (NXPI) closed up more th +6%. In addition, Analog Devices (ADI) and Marvell Technology (MRVL) closed up more than +5%, and ARM Holdings Plc (ARM) closed up more than +3%. Finally, Intel (INTC) closed up more than 2%.
ASGN Inc (ASGN) closed down more than -51% after reporting Q1 revenue of $968.3 million, below the consensus of $972.9 million, and forecasting Q2 revenue of $970 million to $1.00 billion, weaker than the consensus of $1.02 billion.
Medpace Holdings (MEDP) closed down more than -22% after forecasting full-year EPS of $16.68 to $17.50, the midpoint below the consensus of $17.12.
Lululemon Athletica (LULU) closed down more than -13% on disappointment with the naming of Heidi O’Neill as the new CEO, a surprise pick with no previous experience as a CEO.
Thermo Fisher Scientific (TMO) closed down more than -9% after reporting Q1 organic revenue growth of +1.00%, weaker than the consensus of +1.17%.
Las Vegas Sands (LVS) closed down more than -8% after raising its full-year capital expenditure forecast to $1.49 billion from a previous forecast of $1.33 billion, well above the consensus of $1.27 billion.
Tesla (TSLA) closed down more than -3% after boosting its full-year capital expenditure to more than $25 billion to support its push into AI and robotics.
Honeywell International (HON) closed down more than -2% after reporting Q1 sales of $9.14 billion, below the consensus of $9.30 billion.
United Rentals (URI) closed up more than +22% to lead gainers in the S&P 500 after reporting Q1 revenue of $3.99 billion, above the consensus of $3.88 billion, and raising its full-year revenue forecast to $16.9 billion-$17.4 billion from a previous forecast of $16.8 billion-$17.3 billion, stronger than the consensus of $17.07 billion.
West Pharmaceutical Services (WST) closed up more than +12% after reporting Q1 net sales of $844.9 million, well above the consensus of $780.4 million, and raising its full-year net sales forecast to $3.30 billion-$3.35 billion from a previous estimate of $3.22 billion-$3.28 billion, better than the consensus of $3.25 billion.
Comcast (CMCSA) closed up more than +7% after reporting Q1 revenue of $31.46 billion, stronger than the consensus of $30.35 billion.
Keurig Dr. Pepper (KDP) closed up more than +7% after reporting Q1 net sales of $3.98 billion, above the consensus of $3.83 billion.
CSX Corp. (CSX) closed up more than +6% after reporting Q1 operating income of $1.25 billion, higher than the consensus of $1.14 billion.
Hasbro (HAS) closed up more than +6% after reporting preliminary Q1 net revenue of $970 million to $985 million, well above the consensus of $908.6 million.
Earnings Reports(4/24/2026)
Charter Communications Inc (CHTR), First Hawaiian Inc (FHB), Gentex Corp (GNTX), Hasbro Inc (HAS), HCA Healthcare Inc (HCA), Norfolk Southern Corp (NSC), Procter & Gamble Co/The (PG), SLB Ltd (SLB), Southern Copper Corp (SCCO), Western Union Co/The (WU).
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.
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