Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines, distillates, aviation, and renewable. The M&S segment purchases for resale and markets refined petroleum products, including gasolines, distillates, and aviation fuels. This segment also manufactures and markets specialty products, such as base oils and lubricants. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.

Компания Phillips 66 демонстрирует смешанную картину по фундаментальным метрикам. С одной стороны, мультипликатор P/E на уровне 39.92 значительно превышает медиану отрасли, что указывает на возможную переоцененность. С другой стороны, мультипликаторы P/S и P/B значительно ниже медианных значений, что может свидетельствовать о недооцененности по этим параметрам. Уровень долга компании относительно капитала (debt-equity ratio) высок, что создает дополнительные риски. Динамика рентабельности (ROE, ROA) также не радует, показывая ухудшение по сравнению с конкурентами. Хотя выручка и чистая прибыль превышают медианные значения, низкие операционные и чистые маржи указывают на проблемы с эффективностью. Дивиденды показывают стабильный уровень доходности, однако их рост незначителен. В общем, сильные стороны компании компенсируются её слабостями, что требует осторожного подхода к оценке её будущих перспектив.

Phillips 66

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.04%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.57%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.58%. June E-mini S&P futures (ESM26) fell -0.07%, and June E-mini Nasdaq futures (NQM26) rose +0.50%.
Stock indexes settled mixed on Wednesday, with the Dow Jones Industrials falling to a 1.5-week low. Soaring crude oil prices boosted inflation expectations and bond yields, and were negative for stocks. WTI crude oil surged to a 3-week high on Wednesday after the US signaled it will maintain its naval blockade of Iran for the foreseeable future. The Wall Street Journal reported that President Trump told his aides to prepare for an extended blockade and that it carries less of a risk for the US than resuming hostilities or walking away from the conflict without securing a deal that curbs Iran’s nuclear activities.
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The broader market came under pressure on Wednesday after three FOMC members dissented in favor of no easing bias in the FOMC ‘s decision to keep policy unchanged. Also, hawkish comments from Fed Chair Powell weighed on stocks, as he said a bit of monetary policy restraint is the right place to be. The 10-year T-note yield rose +6 bp to a 1-month high of 4.41%.
The Nasdaq 100 moved higher on Wednesday as technology stocks rallied on signs that demand for AI infrastructure remains strong. NXP Semiconductors NV rose +25%, and Seagate Technology Holdings Plc rose by more than +10% to lead chipmakers and AI infrastructure stocks higher after reporting stronger-than-expected earnings results. The markets are awaiting earnings from four of the Magnificent Seven technology stocks after Wednesday’s close, as Alphabet, Amazon, Microsoft, and Meta Platforms will report quarterly results.
Wednesday’s US housing starts and core capital goods new orders reports were better than expected, a supportive factor for stocks.
US MBA mortgage applications fell -1.6% in the week ended April 24, with the purchase mortgage sub-index up +1.2% and the refinancing sub-index down -4.4%. The average 30-year fixed rate mortgage rose by +2 bp to 6.37% from 6.35% in the prior week.
US Mar housing starts unexpectedly rose +10.8% m/m to a 15-month high of 1.502 million, stronger than expectations of a decline to 1.380 million. Mar building permits, a proxy for future construction, fell -10.8% m/m to a 7-month low of 1.372 million, weaker than expectations of 1.390 million.
US Mar capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +3.3% m/m, stronger than expectations of +0.5% m/m and the largest increase in 5.75 years.
WTI crude oil prices (CLM26) soared by more than +6% on Wednesday as 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 Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis, as flows of crude, natural gas, and oil products from the Persian Gulf have been cut off since the war began in late February. Crude prices raced to their highs on Wednesday after President Trump told Axios that he will not lift a naval blockade of Iran's ports until he secures a deal with Iran to address the country's nuclear program. 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. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
As expected, the FOMC kept the fed funds target rate unchanged at 3.50% to 3.75%. The vote was 8-4 in favor of the decision, with Fed Governor Miran dissenting in favor of a -25 bp rate cut. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan said they "supported maintaining the target range for the federal funds rate but did not support inclusion of an easing bias in the statement at this time."
The post-meeting statement said, "Developments in the Middle East are contributing to a high level of uncertainty." Also, "job gains have remained low, on average," and the jobless rate "has been little changed in recent months, while inflation "is elevated, in part reflecting the recent increase in global energy prices."
Fed Chair Powell said policymakers think the policy stance is in a very good place to wait, as inflation is kind of misbehaving, and that maybe a little bit of restriction in monetary policy is the right place to be.
Kevin Warsh won the banking confirmation vote of the Senate Banking Committee on Wednesday, putting him on track to be confirmed as Fed Chair by the full Senate before Jerome Powell’s term ends on May 15. Fed Chair Powell said after Wednesday’s FOMC meeting that he will continue to serve as Fed Governor “for a period of time to be determined.” Mr. Powell’s seat on the Board of Governors doesn’t expire until 2028.
The markets are discounting a 0% chance for a +25 bp FOMC rate cut or a rate hike at the next FOMC meeting on June 16-17.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of Wednesday, 81% of the 220 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.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 fell to a 3-week low and closed down -0.34%. China's Shanghai Composite closed up +0.71%. Japan's Nikkei Stock Average did not trade, as markets in Japan were closed for the Showa Day holiday.
Interest Rates
June 10-year T-notes (ZNM6) on Wednesday closed down -16 ticks. The 10-year T-note yield rose +5.5 bp to 4.4010%. Jun T-notes fell to a 4-week low, and the 10-year T-note yield rose to a 1-month high of 4.430%. T-notes were under pressure on Thursday amid rising crude oil prices, as WTI surged more than +6% to a 32-week high, boosting inflation expectations. The 10-year breakeven inflation rate rose to 1 14.5-month high of 2.479% on Wednesday. T-notes were also pressured by stronger-than-expected US economic reports on Mar housing starts and Mar core capital goods new orders.
T-notes sank to their lows on Wednesday afternoon after three FOMC members dissented in favor of a no-easing bias in the committee’s policy decision. Also, Fed Chair Powell said a little bit of restriction in monetary policy is the right place to be.
European government bond yields moved higher on Wednesday. The 10-year German bund yield rose to a 1-month high of 3.118% and finished up +4.3 bp to 3.110%. The 10-year UK gilt yield climbed to a 1-month high of 5.078% and finished up +6.5 bp to 5.071%.
Eurozone Apr economic confidence fell -3.2 to a nearly 5.5-year low of 93.0, weaker than expectations of 95.1.
Eurozone Mar M3 money supply rose +3.2% y/y, stronger than expectations of +3.1% y/y.
Swaps are discounting a 12% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
NXP Semiconductors NV (NXPI) closed up more than +25% to lead chipmakers and AI infrastructure stocks higher after forecasting Q2 revenue of $3.35 billion to $3.55 billion, stronger than the consensus of $3.27 billion. Intel (INTC) closed up more than +12%, and Seagate Technology Holdings Plc (STX) closed up +11% after forecasting Q4 adjusted EPS of $4.80 to $5.20, well above the consensus of $3.96. Also, Sandisk (SNDK) and Microchip Technology (MCHP) closed up more than +6%, and Western Digital (WDC) closed up more than +5%. In addition, Advanced Micro Devices (AMD) and Qualcomm (QCOM) closed up more than +4%, and Micron Technology (MU) and Marvell Technology (MRVL) closed up more than +2%.
Energy producers and service providers rallied on Wednesday after WTI crude oil rose more than +6% to a 3-week high. Phillips 66 (PSX) closed up more than +5%, and APA Corp (APA) and Valero Energy (VLO) closed up more than +4%. Also, Marathon Petroleum (MPC), Occidental Petroleum (OXY), Devon Energy (DVN), and ConocoPhillips (COP) closed up more than +3%, and Diamondback Energy (FANG), Exxon Mobil (XOM), Halliburton (HAL), and Chevron (CVX) closed up more than +2%.
Airlines and cruise line operators were under pressure on Wednesday as WTI crude oil rose more than +6% to a 2-week high. Alaska Air Group (ALK) closed down more than -3%, and American Airlines Group (AAL), Southwest Airlines (LUV), and Carnival (CCL) closed down more than -2%. Also, United Airlines Holdings (UAL) andDelta Air Lines (DAL) closed down more than -1%.
Bloom Energy (BE) closed up more than +27% after boosting its full-year revenue forecast to $3.4 billion to $3.8 billion from a prior forecast of $3.1 billion to $3.3 billion, above the consensus of $3.25 billion.
Generac Holdings (GNRC) closed up more than +16% after reporting Q1 net sales of $1.06 billion, better than the consensus of $1.05 billion.
Rush Street Interactive (RSI) closed up more than +16% after forecasting full-year revenue between $1.49 billion and $1.54 billion, better than the consensus of $1.38 billion.
Visa (V) closed up more than +8% to lead gainers in the Dow Jones Industrials after reporting Q2 net revenue of $11.23 billion, stronger than the consensus of $10.74 billion.
Starbucks (SBUX) closed up more than +8% after reporting Q2 comparable sales were up +6.20%, well above the consensus of +3.65%, and raised its full-year comparable sales forecast to at least +5% from a prior view of at least +3%.
General Dynamics (GD) closed up more than +7% after reporting Q1 revenue of $13.48 billion, well above the consensus of $12.70 billion.
Teradyne (TER) closed down more than -19% to lead losers in the S&P 500 after forecasting Q2 revenue of $1.15 billion to $1.25 billion, failing to exceed the consensus of $1.20 billion meaningfully.
GE Healthcare (GEHC) closed down more than -13% to lead losers in the Nasdaq 100 after cutting its full-year adjusted EPS forecast to $4.80 to $5.00 from a previous forecast of $4.95 to $5.15, weaker than the consensus of $5.06.
Robinhood Markets (HOOD) closed down more than -13% after reporting Q1 net revenue of $1.07 billion, below the consensus of $1.14 billion.
Brown-Forman (BF.B) closed down more than -10% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $23.
CoStar Group (CSGP) closed down more than -5% after forecasting full-year revenue of $3.78 billion to $3.82 billion, the midpoint below the consensus of $3.81 billion.
Ingersoll Rand (IR) closed down more than -4% after forecasting full-year organic revenue to climb 0% to +2%, the midpoint below the consensus of +1.44%.
Earnings Reports(4/30/2026)
A O Smith Corp (AOS), Air Products and Chemicals Inc (APD), Alliant Energy Corp (LNT), Altria Group Inc (MO), American International Group Inc (AIG), AMETEK Inc (AME), Amgen Inc (AMGN), Apple Inc (AAPL), Arthur J Gallagher & Co (AJG), Baxter International Inc (BAX), Bristol-Myers Squibb Co (BMY), Broadridge Financial Solutions (BR), Builders FirstSource Inc (BLDR), Camden Property Trust (CPT), Cardinal Health Inc (CAH), Carrier Global Corp (CARR), Caterpillar Inc (CAT), Cigna Group/The (CI), Clorox Co/The (CLX), ConocoPhillips (COP), CRH PLC (CRH), Dexcom Inc (DXCM), DTE Energy Co (DTE), Eli Lilly & Co (LLY), First Solar Inc (FSLR), Fortive Corp (FTV), GoDaddy Inc (GDDY), Hershey Co/The (HSY), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Intercontinental Exchange Inc (ICE), International Paper Co (IP), Iron Mountain Inc (IRM), Kimco Realty Corp (KIM), L3Harris Technologies Inc (LHX), Labcorp Holdings Inc (LH), Martin Marietta Materials Inc (MLM), Mastercard Inc (MA), Merck & Co Inc (MRK), Molson Coors Beverage Co (TAP), Monolithic Power Systems Inc (MPWR), Parker-Hannifin Corp (PH), Quanta Services Inc (PWR), ResMed Inc (RMD), Royal Caribbean Cruises Ltd (RCL), Sandisk Corp/DE (SNDK), Smurfit Westrock PLC (SW), Southern Co/The (SO), Stryker Corp (SYK), T Rowe Price Group Inc (TROW), Textron Inc (TXT), Trane Technologies PLC (TT), Valero Energy Corp (VLO), Western Digital Corp (WDC), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), Xcel Energy Inc (XEL).
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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mixed Ahead of Megacap Tech Earnings

The S&P 500 Index ($SPX) (SPY) today is down -0.36%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.78%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.09%. June E-mini S&P futures (ESM26) are down -0.28%, and June E-mini Nasdaq futures (NQM26) are up +0.27%.
Stock indexes are mixed today, with the Dow Jones Industrials falling to a 1.5-week low. Soaring crude oil prices are lifting inflation expectations and bond yields and are negative for stocks. WTI crude oil climbed to a 2-week high today after the US signaled it will maintain its naval blockade of Iran for the foreseeable future. The Wall Street Journal reported that President Trump told his aides to prepare for an extended blockade and that it carries less of a risk for the US than resuming hostilities or walking away from the conflict without securing a deal that curbs Iran’s nuclear activities. The 10-year T-note yield is up +5 bp to a 4-week high of 4.40%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
The Nasdaq 100 is higher today as technology stocks climb on signs that demand for AI infrastructure remains strong. NXP Semiconductors NV and Seagate Technology Holdings Plc are up more than +14% to lead chipmakers and AI infrastructure stocks higher after reporting stronger-than-expected earnings results. The markets are awaiting earnings from four of the Magnificent Seven technology stocks after the close today, as Alphabet, Amazon, Microsoft, and Meta Platforms will report quarterly results.
Today’s US housing starts and core capital goods new orders reports were better than expected, a supportive factor for stocks.
US MBA mortgage applications fell -1.6% in the week ended April 24, with the purchase mortgage sub-index up +1.2% and the refinancing sub-index down -4.4%. The average 30-year fixed rate mortgage rose by +2 bp to 6.37% from 6.35% in the prior week.
US Mar housing starts unexpectedly rose +10.8% m/m to a 15-month high of 1.502 million, stronger than expectations of a decline to 1.380 million. Mar building permits, a proxy for future construction, fell -10.8% m/m to a 7-month low of 1.372 million, weaker than expectations of 1.390 million.
US Mar capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +3.3% m/m, stronger than expectations of +0.5% m/m and the largest increase in 5.75 years.
WTI crude oil prices (CLM26) are up by more than +5% today as 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 Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis, as flows of crude, natural gas, and oil products from the Persian Gulf have been cut off since the war began in late February. 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. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
The 2-day FOMC meeting concludes this afternoon, and the Fed kept monetary policy unchanged as expected, despite a record number of dissenting votes. The markets will look to Fed Chair Powell's post-meeting comments for guidance on the future direction of Fed policy. Today’s FOMC meeting is the last for Mr. Powell as Fed Chair, as his term expires on May 15.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment today and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the conclusion of today’s policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of today, 80% of the 199 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.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell to a 3-week low and is down -0.33%. China's Shanghai Composite closed up +0.71%. Japan's Nikkei Stock Average did not trade, as markets in Japan were closed for the Showa Day holiday.
Interest Rates
June 10-year T-notes (ZNM6) today are down -9 ticks. The 10-year T-note yield is up +4.4 bp to 4.390%. Jun T-notes fell to a 4-week low, and the 10-year T-note yield rose to a 4-week high of 4.402%. T-notes are under pressure today amid rising crude oil prices, with WTI up more than +5% to a 2-week high, boosting inflation expectations. T-notes extended their losses, and US Mar housing starts and Mar core capital goods new orders rose more than expected, a hawkish factor for Fed policy.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 1-month high of 3.101% and is up +2.0 bp to 3.087%. The 10-year UK gilt yield climbed to a 1-month high of 5.067% and is up +3.8 bp to 5.044%.
Eurozone Apr economic confidence fell -3.2 to a nearly 5.5-year low of 93.0, weaker than expectations of 95.1.
Eurozone Mar M3 money supply rose +3.2% y/y, stronger than expectations of +3.1% y/y.
Swaps are discounting a 12% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
NXP Semiconductors NV (NXPI) is up more than +24% to lead chipmakers and AI infrastructure stocks higher after forecasting Q2 revenue of $3.35 billion to $3.55 billion, stronger than the consensus of $3.27 billion. Seagate Technology Holdings Plc (STX) is up +14% after forecasting Q4 adjusted EPS of $4.80 to $5.20, well above the consensus of $3.96. Also, Western Digital (WDC) is up more than +12%, and Sandisk (SNDK) is up more than +9%. In addition, Micron Technology (MU), Intel (INTC), and Microchip Technology (MCHP) are up more than +4%, and Marvell Technology (MRVL), Analog Devices (ADI), Qualcomm (QCOM), and Texas Instruments (TXN) are up more than +1%.
Energy producers and service providers are moving higher today with WTI crude oil up more than +5% at a 2-week high. Phillips 66 (PSX) is up more than +5%, and Marathon Petroleum (MPC) and Valero Energy (VLO) are up more than +3%. Also, APA Corp (APA) and Diamondback Energy (FANG) are up more than +2%, and Devon Energy (DVN), Exxon Mobil (XOM), and Occidental Petroleum (OXY) are up more than +1%
Airlines and cruise line operators are under pressure today with WTI crude oil up more than +5% at a 2-week high. Alaska Air Group (ALK), Carnival (CCL), and Norwegian Cruise Line Holdings (NCLH) are down more than -2%. Also, United Airlines Holdings (UAL), American Airlines Group (AAL), Royal Caribbean Cruises (RCL), and Southwest Airlines (LUV) are down more than -1%. In addition, Delta Air Lines (DAL) is down -0.48%.
Bloom Energy (BE) is up more than +22% after boosting its full-year revenue forecast to $3.4 billion to $3.8 billion from a prior forecast of $3.1 billion to $3.3 billion, above the consensus of $3.25 billion.
Rush Street Interactive (RSI) is up more than +15% after forecasting full-year revenue between $1.49 billion and $1.54 billion, better than the consensus of $1.38 billion.
Generac Holdings (GNRC) is up more than +14% after reporting Q1 net sales of $1.06 billion, better than the consensus of $1.05 billion.
General Dynamics (GD) is up more than +10% after reporting Q1 revenue of $13.48 billion, well above the consensus of $12.70 billion.
Visa (V) is up more than +9% to lead gainers in the Dow Jones Industrials after reporting Q2 net revenue of $11.23 billion, stronger than the consensus of $10.74 billion.
Starbucks (SBUX) is up more than +8% after reporting Q2 comparable sales were up +6.20%, well above the consensus of +3.65%, and raised its full-year comparable sales forecast to at least +5% from a prior view of at least +3%.
Teradyne (TER) is down more than -15% to lead losers in the S&P 500 after forecasting Q2 revenue of $1.15 billion to $1.25 billion, failing to exceed the consensus of $1.20 billion meaningfully.
GE Healthcare (GEHC) is down more than -13% to lead losers in the Nasdaq 100 after cutting its full-year adjusted EPS forecast to $4.80 to $5.00 from a previous forecast of $4.95 to $5.15, weaker than the consensus of $5.06.
Robinhood Markets (HOOD) is down more than -13% after reporting Q1 net revenue of $1.07 billion, below the consensus of $1.14 billion.
Brown-Forman (BF.B) is down more than -10% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $23.
Avis Budget Group (CAR) is down more than -7% after reporting a Q1 loss per share of $8.01, wider than the consensus of $6.87.
CoStar Group (CSGP) is down more than -5% after forecasting full-year revenue of $3.78 billion to $3.82 billion, the midpoint below the consensus of $3.81 billion.
Ingersoll Rand (IR) is down more than -4% after forecasting full-year organic revenue to climb 0% to +2%, the midpoint below the consensus of +1.44%.
Earnings Reports(4/29/2026)
AbbVie Inc (ABBV), Aflac Inc (AFL), Align Technology Inc (ALGN), Allstate Corp/The (ALL), Alphabet Inc (GOOGL), Amazon.com Inc (AMZN), American Water Works Co Inc (AWK), Amphenol Corp (APH), Automatic Data Processing Inc (ADP), Biogen Inc (BIIB), Bunge Global SA (BG), Carvana Co (CVNA), CH Robinson Worldwide Inc (CHRW), Chipotle Mexican Grill Inc (CMG), Cognizant Technology Solutions (CTSH), eBay Inc (EBAY), EMCOR Group Inc (EME), Entergy Corp (ETR), Equinix Inc (EQIX), Everest Group Ltd (EG), Ford Motor Co (F), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), General Dynamics Corp (GD), Humana Inc (HUM), IDEX Corp (IEX), Invitation Homes Inc (INVH), KLA Corp (KLAC), Lennox International Inc (LII), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), O'Reilly Automotive Inc (ORLY), Phillips 66 (PSX), QUALCOMM Inc (QCOM), Regency Centers Corp (REG), Regeneron Pharmaceuticals Inc (REGN), SBA Communications Corp (SBAC), Stanley Black & Decker Inc (SWK), Tyler Technologies Inc (TYL), UDR Inc (UDR), Verisk Analytics Inc (VRSK), VICI Properties Inc (VICI), Vulcan Materials Co (VMC),
Yum! Brands Inc (YUM).
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed After Fed Holds Rates Steady in Powell's Farewell

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Phillips 66 (PSX) Q1 2026 Earnings Transcript

The S&P 500 Index ($SPX) (SPY) today is down -0.04%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.49%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.48%. June E-mini S&P futures (ESM26) are down -0.05%, and June E-mini Nasdaq futures (NQM26) are up +0.48%.
Stock indexes are mixed today, with the Dow Jones Industrials falling to a 1.5-week low. Soaring crude oil prices are lifting inflation expectations and bond yields and are negative for stocks. WTI crude oil climbed to a 2-week high today after the US signaled it will maintain its naval blockade of Iran for the foreseeable future. The Wall Street Journal reported that President Trump told his aides to prepare for an extended blockade and that it carries less of a risk for the US than resuming hostilities or walking away from the conflict without securing a deal that curbs Iran’s nuclear activities. The 10-year T-note yield is up +5 bp to a 4-week high of 4.40%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
The Nasdaq 100 is higher today as technology stocks climb on signs that demand for AI infrastructure remains strong. NXP Semiconductors NV and Seagate Technology Holdings Plc are up more than +14% to lead chipmakers and AI infrastructure stocks higher after reporting stronger-than-expected earnings results. The markets are awaiting earnings from four of the Magnificent Seven technology stocks after the close today, as Alphabet, Amazon, Microsoft, and Meta Platforms will report quarterly results.
Today’s US housing starts and core capital goods new orders reports were better than expected, a supportive factor for stocks.
US MBA mortgage applications fell -1.6% in the week ended April 24, with the purchase mortgage sub-index up +1.2% and the refinancing sub-index down -4.4%. The average 30-year fixed rate mortgage rose by +2 bp to 6.37% from 6.35% in the prior week.
US Mar housing starts unexpectedly rose +10.8% m/m to a 15-month high of 1.502 million, stronger than expectations of a decline to 1.380 million. Mar building permits, a proxy for future construction, fell -10.8% m/m to a 7-month low of 1.372 million, weaker than expectations of 1.390 million.
US Mar capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +3.3% m/m, stronger than expectations of +0.5% m/m and the largest increase in 5.75 years.
WTI crude oil prices (CLM26) are up by more than +5% today as 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 Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis, as flows of crude, natural gas, and oil products from the Persian Gulf have been cut off since the war began in late February. 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. Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.
The 2-day FOMC meeting concludes this afternoon, and the Fed is expected to keep monetary policy unchanged. The markets will look to Fed Chair Powell's post-meeting comments for guidance on the future direction of Fed policy. Today’s FOMC meeting is the last for Mr. Powell as Fed Chair, as his term expires on May 15.
Kevin Warsh now appears to be on a glide path toward Senate approval as the new Fed Chair after Senator Thom Tillis said on Sunday that he dropped his opposition to the nomination. Mr. Tillis dropped his opposition after the US Justice Department dropped its criminal investigation into the Fed’s overspending on the renovation of its building, in line with Mr. Tillis’ demand. Mr. Tillis views the investigation into Fed Chair Powell as an attempt to force the Fed to cut interest rates. The Senate Banking Committee is due to vote on Mr. Warsh’s appointment today and then send the nomination to the full Senate for a vote.
The markets are discounting a 0% chance for a +25 bp FOMC rate hike at the conclusion of today’s policy meeting. The markets are expecting the FOMC to leave policy unchanged this week as it awaits further developments in oil prices and inflation.
Earnings season ramps up this week with several Magnificent Seven technology stocks reporting. Earnings results thus far have been supportive of stocks. As of today, 80% of the 199 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.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell to a 3-week low and is down -0.33%. China's Shanghai Composite closed up +0.71%. Japan's Nikkei Stock Average did not trade, as markets in Japan were closed for the Showa Day holiday.
Interest Rates
June 10-year T-notes (ZNM6) today are down -9 ticks. The 10-year T-note yield is up +4.4 bp to 4.390%. Jun T-notes fell to a 4-week low, and the 10-year T-note yield rose to a 4-week high of 4.402%. T-notes are under pressure today amid rising crude oil prices, with WTI up more than +5% to a 2-week high, boosting inflation expectations. T-notes extended their losses, and US Mar housing starts and Mar core capital goods new orders rose more than expected, a hawkish factor for Fed policy.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 1-month high of 3.101% and is up +2.0 bp to 3.087%. The 10-year UK gilt yield climbed to a 1-month high of 5.067% and is up +3.8 bp to 5.044%.
Eurozone Apr economic confidence fell -3.2 to a nearly 5.5-year low of 93.0, weaker than expectations of 95.1.
Eurozone Mar M3 money supply rose +3.2% y/y, stronger than expectations of +3.1% y/y.
Swaps are discounting a 12% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
NXP Semiconductors NV (NXPI) is up more than +24% to lead chipmakers and AI infrastructure stocks higher after forecasting Q2 revenue of $3.35 billion to $3.55 billion, stronger than the consensus of $3.27 billion. Seagate Technology Holdings Plc (STX) is up +14% after forecasting Q4 adjusted EPS of $4.80 to $5.20, well above the consensus of $3.96. Also, Western Digital (WDC) is up more than +12%, and Sandisk (SNDK) is up more than +9%. In addition, Micron Technology (MU), Intel (INTC), and Microchip Technology (MCHP) are up more than +4%, and Marvell Technology (MRVL), Analog Devices (ADI), Qualcomm (QCOM), and Texas Instruments (TXN) are up more than +1%.
Energy producers and service providers are moving higher today with WTI crude oil up more than +5% at a 2-week high. Phillips 66 (PSX) is up more than +5%, and Marathon Petroleum (MPC) and Valero Energy (VLO) are up more than +3%. Also, APA Corp (APA) and Diamondback Energy (FANG) are up more than +2%, and Devon Energy (DVN), Exxon Mobil (XOM), and Occidental Petroleum (OXY) are up more than +1%
Airlines and cruise line operators are under pressure today with WTI crude oil up more than +5% at a 2-week high. Alaska Air Group (ALK), Carnival (CCL), and Norwegian Cruise Line Holdings (NCLH) are down more than -2%. Also, United Airlines Holdings (UAL), American Airlines Group (AAL), Royal Caribbean Cruises (RCL), and Southwest Airlines (LUV) are down more than -1%. In addition, Delta Air Lines (DAL) is down -0.48%.
Bloom Energy (BE) is up more than +22% after boosting its full-year revenue forecast to $3.4 billion to $3.8 billion from a prior forecast of $3.1 billion to $3.3 billion, above the consensus of $3.25 billion.
Rush Street Interactive (RSI) is up more than +15% after forecasting full-year revenue between $1.49 billion and $1.54 billion, better than the consensus of $1.38 billion.
Generac Holdings (GNRC) is up more than +14% after reporting Q1 net sales of $1.06 billion, better than the consensus of $1.05 billion.
General Dynamics (GD) is up more than +10% after reporting Q1 revenue of $13.48 billion, well above the consensus of $12.70 billion.
Visa (V) is up more than +9% to lead gainers in the Dow Jones Industrials after reporting Q2 net revenue of $11.23 billion, stronger than the consensus of $10.74 billion.
Starbucks (SBUX) is up more than +8% after reporting Q2 comparable sales were up +6.20%, well above the consensus of +3.65%, and raised its full-year comparable sales forecast to at least +5% from a prior view of at least +3%.
Teradyne (TER) is down more than -15% to lead losers in the S&P 500 after forecasting Q2 revenue of $1.15 billion to $1.25 billion, failing to exceed the consensus of $1.20 billion meaningfully.
GE Healthcare (GEHC) is down more than -13% to lead losers in the Nasdaq 100 after cutting its full-year adjusted EPS forecast to $4.80 to $5.00 from a previous forecast of $4.95 to $5.15, weaker than the consensus of $5.06.
Robinhood Markets (HOOD) is down more than -13% after reporting Q1 net revenue of $1.07 billion, below the consensus of $1.14 billion.
Brown-Forman (BF.B) is down more than -10% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $23.
Avis Budget Group (CAR) is down more than -7% after reporting a Q1 loss per share of $8.01, wider than the consensus of $6.87.
CoStar Group (CSGP) is down more than -5% after forecasting full-year revenue of $3.78 billion to $3.82 billion, the midpoint below the consensus of $3.81 billion.
Ingersoll Rand (IR) is down more than -4% after forecasting full-year organic revenue to climb 0% to +2%, the midpoint below the consensus of +1.44%.
Earnings Reports(4/29/2026)
AbbVie Inc (ABBV), Aflac Inc (AFL), Align Technology Inc (ALGN), Allstate Corp/The (ALL), Alphabet Inc (GOOGL), Amazon.com Inc (AMZN), American Water Works Co Inc (AWK), Amphenol Corp (APH), Automatic Data Processing Inc (ADP), Biogen Inc (BIIB), Bunge Global SA (BG), Carvana Co (CVNA), CH Robinson Worldwide Inc (CHRW), Chipotle Mexican Grill Inc (CMG), Cognizant Technology Solutions (CTSH), eBay Inc (EBAY), EMCOR Group Inc (EME), Entergy Corp (ETR), Equinix Inc (EQIX), Everest Group Ltd (EG), Ford Motor Co (F), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), General Dynamics Corp (GD), Humana Inc (HUM), IDEX Corp (IEX), Invitation Homes Inc (INVH), KLA Corp (KLAC), Lennox International Inc (LII), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), O'Reilly Automotive Inc (ORLY), Phillips 66 (PSX), QUALCOMM Inc (QCOM), Regency Centers Corp (REG), Regeneron Pharmaceuticals Inc (REGN), SBA Communications Corp (SBAC), Stanley Black & Decker Inc (SWK), Tyler Technologies Inc (TYL), UDR Inc (UDR), Verisk Analytics Inc (VRSK), VICI Properties Inc (VICI), Vulcan Materials Co (VMC),
Yum! Brands Inc (YUM).
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed Ahead of FOMC Meeting Results

Phillips 66 PSX reported first-quarter 2026 adjusted earnings of 49 cents per share, topping the Zacks Consensus Estimate of a loss of 55 cents. The bottom line skyrocketed 154.4% year over year from an adjusted loss of 90 cents.
Total revenues and other income came in at $33 billion, rising 4% from the year-ago quarter’s $31.7 billion and beating the consensus mark of $29.5 billion, reflecting an 11.8% surprise.
The strong quarterly results were supported by solid operating performance in the refining system, which ran at 95% capacity utilization and delivered an 87% clean product yield. However, mark-to-market losses tied to short derivative positions used to manage price risk weighed on PSX’s first-quarter profitability.
Phillips 66 Price, Consensus and EPS Surprise
Phillips 66 price-consensus-eps-surprise-chart | Phillips 66 Quote
PSX Refining Results Reflect Solid Operating Performance
Refining generated adjusted pre-tax earnings of $208 million, reversing from a loss of $937 million in the year-ago quarter. The system processed 2,009 MBD of total inputs and worldwide realized refining margins were $10.11 per barrel versus $6.81 per barrel in the prior-year period. The segment benefited from increased realized refining margins and higher processed volumes.
Costs tied to reliability work were meaningful. Turnaround expenses totaled $178 million, embedded in operating and SG&A expenses. However, management highlighted that mark-to-market impacts affected the results, partially offset by stronger clean product differentials.
Phillips 66 Midstream Gains Backed by Volume Strength
Midstream was a key earnings contributor, delivering $591 million of adjusted pre-tax earnings in the quarter. NGL pipeline throughput to market averaged 930 MBD and NGL fractionated volumes averaged 980 MBD, providing scale benefits even as volumes were lower than the prior quarter.
Operationally, Phillips 66 formally increased Sweeny NGL fractionation capacity by 23% and boosted the Freeport LPG export dock capacity by 15%, reflecting capacity optimization. These additions support the company’s long-term positioning in NGL logistics and exports, an area where throughput and fractionation intensity are key drivers of fee-based cash generation.
PSX Chemicals Segment Improves on Better Market Conditions
Chemicals reported pre-tax earnings of $114 million in the quarter, up from $113 million a year ago, with adjusted pre-tax income of $85 million after inventory-related special items. The segment’s performance was affected by lower volumes and higher costs due to turnaround-related expenses.
Operating conditions remained healthy. Global olefins and polyolefins capacity utilization was 94%, and the ethylene-to-high-density polyethylene chain cash margin averaged 10.7 cents per pound, providing a constructive read on integrated petrochemical economics during the period.
Phillips 66’s Marketing Results
Marketing and Specialties recorded an adjusted pre-tax loss of $141 million in the quarter against pre-tax earnings of $265 million in the year-ago period. The decline reflected weaker margins, with management pointing to mark-to-market impacts as a primary swing factor for the segment’s quarterly performance.
PSX’s Renewable Fuels Performance
The segment reported an adjusted pre-tax loss of $41 million, narrower than the $185 million adjusted pre-tax loss recorded in the year-ago quarter.
Overall, Phillips 66 said its financial results were impacted by $839 million of mark-to-market pre-tax losses tied to short derivative positions used as economic hedges.
PSX’s Financials & Shareholder Returns
Phillips 66 ended the quarter with liquidity of approximately $6 billion, including $5.2 billion in cash and cash equivalents, and $800 million in committed capacity under credit facilities. Total debt was $27.1 billion at the quarter-end, translating to a 48% debt-to-capital ratio, higher than the prior-year quarter.
PSX announced a quarterly dividend of $1.27 per share, payable June 1, 2026, to shareholders of record as of May 18. The company returned $778 million to shareholders, including $509 million in dividends and $269 million in share repurchases. Capital expenditure and investments totaled $582 million, reflecting continued funding for strategic priorities, alongside shareholder returns.
PSX’s Zacks Rank & Other Key Picks
PSX currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks from the energy sector are Equinor ASA EQNR, Galp Energia SGPS SA GLPEY and FuelCell Energy FCEL. Equinor and Galp Energia sport a Zacks Rank #1, and Fuelcell carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Equinor is one of the leading integrated energy companies globally and a major supplier of natural gas in Europe. The recent conflict between the United States and Iran has resulted in a spike in gas prices and disrupted LNG supply, following damage to critical infrastructure in Qatar, tightening global LNG supply. This is expected to boost demand for Eqinor’s gas exports to Europe, positioning the company to benefit from heightened prices. The company’s expansion in the renewable energy space positions it for long-term growth as more countries transition toward cleaner energy solutions to meet their climate goals.
Galp Energia is a Portuguese energy company engaged in exploration and production activities. The company’s oil exploration efforts have yielded positive results, particularly with the Mopane discovery in the Orange Basin, offshore Namibia. This discovery allows Galp to diversify its global presence with the potential to become a significant oil producer in the region. It is engaged in refining and marketing of oil products and natural gas marketing and sales.
FuelCell Energy is a clean energy company that offers scalable, reliable, low-carbon power solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company’s proprietary molten carbonate fuel cell systems generate electricity through an electrochemical process instead of burning fuel, reducing carbon emissions and minimizing the environmental impact of power generation. FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
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Phillips 66 Q1 Earnings Beat on Higher Realized Refining Margins

Wednesday, April 29th, 2026
President Trump continues his tough talk on his social media platform Truth Social this morning, which can be understood at this stage in the two-month war that negotiations are currently static. But for once, there may be something even bigger than the Strait of Hormuz affecting investors’ attitudes (even with Brent crude back up to $115 per barrel): in aggregate, this may be the biggest day ofstock market newsso far in 2026.
Not only is today the final Federal Open Market Committee (FOMC) decision under Fed Chair Jerome Powell — Kevin Warsh will replace him for the FOMC’s June meeting — but four of the “Magnificent 7” stocks will report quarterly earnings after the closing bell. The FOMC is 100% likely to keep the 3.50-3.75% Fed funds rate steady, as it has been since December of last year. For the “Mag 7” stocks, capital outlays toward AI investment will be closely watched.
Not only that, but we also see dozens of important companies reporting Q1 earnings before and after the bell that are unrelated to the AI trade, such as Phillips 66 in the early AM and Ford F, Qualcomm QCOM and Chipotle CMG this afternoon. Also, a plethora of economic reports greet us an hour before the opening bell.
Fresh Data for March: Durable Goods, Housing Starts & More
We see some unexpectedly strong economic growth numbers from March this morning, and we’ll start by discussing Durable Goods Orders: +0.8% is 4x what analysts had been expecting, the first positive print in the past four months, and the highest since +5.4% in November of last year. This follows an unrevised -1.4% from February.
Ex-Transportation, we see this bump up to +0.9%, and non-Defense, ex-aircraft — a proxy for “regular” enterprise spending — we see the biggest jump in almost six years: +3.3%. We can trace this boom to AI infrastructure spending, with the AI equipment segment up big: +3.7%. At least we’re beginning to see the results of AI investment make its way into metrics not directly associated with Big Tech “hyperscalers.”
Housing Starts for March jumped to their highest levels since December 2024 this morning: +1.502 million seasonally adjusted, annualized units was way up from the downwardly revised +1.36 million reported for February. For the first time since September of 2022, we saw a “5-handle” on 30-year fixed mortgage rates (+5.98%), and homebuilders responded in a big way.
Conversely, Building Permits — a proxy for March came down to +1.372 million seasonally adjusted, annualized units from February’s big jump to +1.54 million, and the lowest figure since August of last year. March is a key month here: that’s when the bombings of Iran started. Even though homebuilders were gaining momentum on lowered mortgage rates, uncertainty due to the war saw Permits — which usually go up in the spring months — take a tumble.
The Advanced U.S. Trade Deficit came in slightly lower than expectations: -$87.9 billion. This is the deepest level of 2026 so far, but still thankfully well off the all-time low -$135 billion we saw in March of 2025, directly before President Trump’s “Liberation Day” of massive global tariffs (which lasted one week).
Preliminary numbers on Advanced Retail Inventories blossomed to +0.7% in March from +0.1% expected, while Wholesale Inventories jumped +100 basis points (bps) from expectations to +1.4%, and 50 bps above the previous month’s +0.9%. These are both metrics that will add to quarterly GDP, albeit the “worst” sort of economic growth, as it anticipates sales that may or may not materialize.
Q1 Earnings at a Glance: PSX, ABBV, BIIB & Mag 7 Later
This may be the longest word-count for “Ahead of Wall Street” on record, as we’re just now getting to Q1 earnings ahead of the open. With this in mind, we’ll merely spot-check some key earnings data this morning:
Big Pharma mainstay AbbVie ABBV beat estimates by 3 cents per share to $2.65 on its bottom line and bumped up its guidance, but shares are flat on the news, even after falling -13% year to date.
Oil refiner Phillips 66 PSX posted a huge +189% earnings beat — +$0.49 per share versus -$0.55 in the Zacks consensus — on higher refining margins, largely based on oil price hikes from the Iran war. These shares are flat, as well, but +28% year to date.
Biotech giant Biogen BIIB posted a +21% earnings beat this morning — $3.57 per share versus $2.95 anticipated — while also outperforming on its top line. Shares are up +2% on the news, adding to the stock’s +4% growth from the start of the year.
After the closing bell today, Microsoft MSFT is expected to have growth +17.6% on its bottom line and +16.2% on its top. Meta Platforms META looks to have grown +4.35% on year-over-year earnings and +31.15% on revenues. Amazon AMZN anticipates a more modest +0.63% earnings growth and +14.24% on the top line. Alphabet GOOGL, with its massive capex spending on AI infrastructure, is projected to come in -6% on earnings and +20.6% on revenues.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
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Big Boosts to Econ Growth from AI Investment, Inventories & More

(RTTNews) - Phillips 66 (PSX), an integrated downstream energy provider, on Wednesday reported lower earnings for the first quarter.
Net earnings declined to $207 million or $0.51 per share form $487 million or $1.18 per share a year earlier.
Excluding one-time items, the company posted adjusted profit of $200 million $0.49 per share compared with a loss of $368 million or $0.90 per share last year.
Phillips 66 said first-quarter results were impacted by mark-to-market losses of $839 million related to short derivative positions used as economic hedges amid rising commodity prices.
Phillips 66 shares were up more than 1% in pre-market trading after closing at $165.13 on Tuesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Phillips 66 Q1 Profit Down

There’s no question that the Iran conflict has made a huge impact on oil prices. No matter how you measure, from West Texas to Brent, oil is on the rise. It’s led to higher prices at the pump not just for Americans, but worldwide. If you’re looking for a way to get revenge for higher gas price, one way is by investing in the very companies pumping that gas. That brings us to today’s Bull of the Day. It’s a Zacks Rank #1 (Strong Buy) that’s poised to see earnings estimates maintain their heights even as oil prices come down.
I’m talking about Zacks Rank #1 (Strong Buy) Phillips 66 (PSX). If you’re looking for a name that quietly prints cash while the market obsesses over flashy growth stocks, Phillips 66 deserves a hard look right now. This is a downstream powerhouse in refining, midstream, and chemicals. That may be the less glamorous side of energy, but often the more consistent profit engine. And in this environment, consistency is exactly what investors are paying up for.
Refining margins have remained structurally strong thanks to tight global capacity, and Phillips 66 has been one of the biggest beneficiaries. The company has spent the last few years reshaping its portfolio by selling lower-return assets, doubling down on high-margin operations, and improving efficiency across the board. Translation: higher returns on capital and a leaner, more profitable business model.
Phillips 66 Price and Consensus
Phillips 66 price-consensus-chart | Phillips 66 Quote
Analysts are taking notice. Over the last sixty days, seven analysts have increased their estimates for the current year while six have followed suit for next year. The impact on our Zacks Consensus Estimates has been incredibly bullish. Current year Zacks Consensus is up from $11.30 to $15.18 while next year’s number is up from $12.77 to $15.93.
All this bullishness is happening ahead of its earnings report due out this morning. That means there could be even more bullish fuel to this fire.
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 >>
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Bull of the Day: Phillips 66 (PSX)

The following companies are expected to report earnings prior to market open on 04/29/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
AbbVie Inc. (ABBV)is reporting for the quarter ending March 31, 2026. The large cap pharmaceutical company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.62. This value represents a 6.50% increase compared to the same quarter last year. In the past year ABBV has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 1.88%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for ABBV is 13.89 vs. an industry ratio of 15.00.
AstraZeneca PLC (AZN)is reporting for the quarter ending March 31, 2026. The biomedical (gene) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.57. This value represents a 3.63% increase compared to the same quarter last year. AZN missed the consensus earnings per share in the 4th calendar quarter of 2025 by -51.38%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for AZN is 18.26 vs. an industry ratio of -6.90, implying that they will have a higher earnings growth than their competitors in the same industry.
TotalEnergies SE (TTE)is reporting for the quarter ending March 31, 2026. The oil refining company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.99. This value represents a 8.74% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for TTE is 9.25 vs. an industry ratio of 13.40.
Amphenol Corporation (APH)is reporting for the quarter ending March 31, 2026. The electrical connectors company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.95. This value represents a 50.79% increase compared to the same quarter last year. In the past year APH has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 4.3%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for APH is 34.25 vs. an industry ratio of 12.70, implying that they will have a higher earnings growth than their competitors in the same industry.
UBS AG (UBS)is reporting for the quarter ending March 31, 2026. The bank (foreign) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.85. This value represents a 66.67% increase compared to the same quarter last year. In the past year UBS has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 48%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for UBS is 13.14 vs. an industry ratio of 11.50, implying that they will have a higher earnings growth than their competitors in the same industry.
General Dynamics Corporation (GD)is reporting for the quarter ending March 31, 2026. The aerospace and defense company's consensus earnings per share forecast from the 8 analysts that follow the stock is $3.68. This value represents a 0.55% increase compared to the same quarter last year. In the past year GD has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 1.46%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for GD is 19.17 vs. an industry ratio of -58.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Automatic Data Processing, Inc. (ADP)is reporting for the quarter ending March 31, 2026. The internet software company's consensus earnings per share forecast from the 5 analysts that follow the stock is $3.28. This value represents a 7.19% increase compared to the same quarter last year. In the past year ADP has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 1.55%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for ADP is 18.00 vs. an industry ratio of -35.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Regeneron Pharmaceuticals, Inc. (REGN)is reporting for the quarter ending March 31, 2026. The biomedical (gene) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $6.28. This value represents a 2.33% decrease compared to the same quarter last year. REGN missed the consensus earnings per share in the 1st calendar quarter of 2025 by -2.72%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for REGN is 20.69 vs. an industry ratio of -6.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Canadian National Railway Company (CNI)is reporting for the quarter ending March 31, 2026. The transportation (rail) company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.31. This value represents a 1.55% increase compared to the same quarter last year. CNI missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -1.46%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for CNI is 20.03 vs. an industry ratio of 16.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Phillips 66 (PSX)is reporting for the quarter ending March 31, 2026. The oil refining company's consensus earnings per share forecast from the 4 analysts that follow the stock is $-0.55. This value represents a 38.89% increase compared to the same quarter last year. PSX missed the consensus earnings per share in the 1st calendar quarter of 2025 by -16.88%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for PSX is 10.81 vs. an industry ratio of 13.40.
Entergy Corporation (ETR)is reporting for the quarter ending March 31, 2026. The electric power utilities company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.89. This value represents a 8.54% increase compared to the same quarter last year. In the past year ETR has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2026 Price to Earnings ratio for ETR is 25.78 vs. an industry ratio of 18.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Garmin Ltd. (GRMN)is reporting for the quarter ending March 31, 2026. The electrical instrument company's consensus earnings per share forecast from the 4 analysts that follow the stock is $1.84. This value represents a 14.29% increase compared to the same quarter last year. GRMN missed the consensus earnings per share in the 1st calendar quarter of 2025 by -2.42%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for GRMN is 27.35 vs. an industry ratio of 29.60.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Earnings Report for April 29, 2026 : ABBV, AZN, TTE, APH, UBS, GD, ADP, REGN, CNI, PSX, ETR, GRMN

An updated edition of the Jan. 16, 2026 article.
Corporate leadership is undergoing a meaningful structural shift as more women assume top roles at publicly traded companies. This change is increasingly driven by performance, with women-led organizations showing stronger innovation, greater operational agility and improving shareholder returns across industries. These leadership appointments go beyond symbolism, as many of these executives are outperforming peers through disciplined execution, efficient capital allocation and a clear focus on long-term value creation, strengthening investor confidence in more resilient and sustainable business models.
The latest reports paint a nuanced picture: women are becoming a structural force in U.S. entrepreneurship, even as funding and systemic gaps persist. One of the clearest takeaways is scale. Women now own more than 40% of all U.S. businesses, employing roughly 12.6 million people and generating $2.8 trillion in revenue. Growth has also been faster than that of male-owned firms, with women-owned businesses expanding nearly twice as quickly between 2022 and 2025. This shift signals that female entrepreneurship is no longer niche—it is central to the U.S. small- and mid-sized business ecosystem, particularly in services, consumer, healthcare and increasingly tech-enabled sectors. The data suggests women are not just starting companies, but building durable, employment-generating enterprises, a key driver of long-term economic resilience.
Recent venture data shows a meaningful rise in participation at the high-growth end of the market. In 2025, U.S. startups with at least one female founder raised a record $73.6 billion, capturing around 27–28% of total VC deal value, the highest share on record. Importantly, female founders are increasingly present in AI and next-generation technology ecosystems, which now account for a large portion of capital deployed. This indicates a shift from traditional sectors into high-value, innovation-driven markets, positioning women at the center of future growth themes.
At the same time, capital is becoming more concentrated in fewer, larger deals—often in AI—suggesting that while top-tier female-led companies are scaling rapidly, broader participation remains uneven.
Female founders are increasingly focusing on building scalable, exit-ready businesses rather than just early-stage growth. Recent data shows their exit values have more than doubled year over year, with female-led firms accounting for about 25% of U.S. exits. This reflects a more mature approach, with greater emphasis on sustainable growth, stronger leadership teams and early exit planning. As a result, women entrepreneurs are not only creating ventures but also successfully scaling and monetizing them, improving long-term value creation.
Despite strong progress, a significant funding gap continues to limit the full potential of female founders. All-female founding teams still receive only about 1–2% of total U.S. venture capital, even though evidence suggests they often deliver higher capital efficiency and competitive returns. This imbalance highlights a structural constraint within the venture ecosystem, where access to early-stage and growth funding remains uneven. As a result, many promising female-led startups may struggle to scale at the same pace as their peers, underscoring a sizable untapped opportunity for investors willing to address this gap.
Despite funding challenges, women-led companies continue to drive innovation and resilience, making them attractive investment opportunities. If you want to capitalize on it, our Women Run Companies Screen will help you spot high-potential stocks in this space.
Investors looking to capitalize on this growing sector should consider Occidental Petroleum Corporation OXY from the oil and gas exploration and production industry, Phillips 66 PSX from the refining and midstream energy space, Arista Networks, Inc. ANET from the cloud networking and data center infrastructure industry, Casey's General Stores CASY from the convenience retail sector, and Advanced Micro Devices AMD from the semiconductor and AI computing industry. These companies exemplify strong leadership and strategic vision, which position them for long-term success.
Ready to uncover more transformative thematic investment ideas? Explore 37 cutting-edge investment themes with Zacks Thematic Investing Screens and discover your next big opportunity.
5 Women-Run Company Stocks to Buy Now
Occidental: Vicki Hollub has played a pivotal role in reshaping Occidental Petroleum Corporation over the past decade, steering it toward a more focused and cash-generative upstream model. Since taking over as CEO in 2016, she has emphasized high-return assets, particularly in the Permian Basin, while streamlining operations and improving efficiency. Her focus on cost control during the oil downturn helped transform Occidental into a leaner operator, and her strong operational expertise supported efficient production growth alongside consistent reserve replacement.
A key feature of Hollub’s leadership has been her readiness to undertake large-scale strategic moves to strengthen long-term resource depth. The $55 billion acquisition of Anadarko Petroleum in 2019 significantly expanded Occidental’s footprint in the Permian, although it also raised leverage and investor concerns. More recently, her strategy has shifted toward strengthening the balance sheet and maintaining capital discipline. This includes the $9.7 billion divestiture of OxyChem and continued debt reduction efforts, signaling a move away from aggressive expansion toward a more shareholder-focused approach centered on deleveraging and returns.
Financially, this strategy has supported steady performance despite ongoing commodity price volatility. In the fourth quarter of 2025, Occidental generated oil and gas pre-tax income of $0.7 billion, with total production reaching 1.48 million barrels of oil equivalent per day, exceeding guidance due to solid Permian output. The company has also made meaningful progress on its balance sheet, reducing debt and raising its dividend by more than 8%, with payouts doubling over the past four years. Overall, Hollub’s impact lies in repositioning Occidental as a more disciplined and asset-focused energy company, balancing growth ambitions with improved financial strength and shareholder returns. Currently, Occidental sports a Zacks Rank #1 (Strong Buy).
Phillips 66: Tandra Perkins has been instrumental in reinforcing the enterprise foundation of Phillips 66 through her leadership in digital transformation and centralized corporate functions. As Chief Digital and Administrative Officer, she manages IT, procurement, real estate, innovation and enterprise services—areas that directly affect cost efficiency, capital deployment and operational reliability. Her role is less tied to production growth and more focused on building scalable infrastructure across refining, midstream and chemicals, helping the company operate more efficiently in a margin-sensitive downstream environment.
From an equity perspective, Perkins’ impact is most evident in enhancing structural efficiency and enabling strategy execution. Her emphasis on digital platforms and integrated enterprise services supports Phillips 66’s efforts to optimize refining performance, improve supply-chain visibility and advance energy transition initiatives such as renewable fuels and midstream expansion. This is particularly important as the company directs capital toward higher-return opportunities, including its $2.4 billion 2026 capex plan centered on refining optimization and NGL infrastructure, where disciplined procurement and digital integration play a key role in execution.
Financially, her contributions underpin resilience during periods of refining margin volatility. Recent results reflect this dynamic—fourth-quarter performance faced pressure from weaker refining margins, but gains in renewable fuels and operational efficiencies helped offset the impact. In stronger margin environments, the company has demonstrated meaningful earnings leverage, with refining and midstream segments delivering solid results. Within this framework, Perkins’ role is to drive consistent cost discipline, scalable digital capabilities and enterprise-wide efficiency, all of which are critical to sustaining cash flows and shareholder returns across cycles. Currently, Phillips 66 sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista: Jayshree Ullal has been central to transforming Arista Networks from a niche data-center switching vendor into a leading force in cloud and AI networking. Since taking charge in 2008 as founding CEO and now serving as Chairperson, she has led a software-driven strategy centered on Arista’s EOS platform, enabling scalable, high-performance networking for hyperscale data centers. By focusing early on cloud giants and high-performance computing workloads, Ullal positioned the company at the forefront of the AI infrastructure cycle, allowing it to gain significant share in high-speed Ethernet switching. This strategic direction has set Arista apart from legacy peers, supporting a higher-margin, innovation-focused business model.
In recent years, Ullal’s leadership has been defined by aligning Arista with the rapid expansion in AI and cloud capital spending. The company has broadened its footprint beyond core data centers into AI networking, campus solutions and routing, creating multiple growth avenues. Management has outlined a path to scale AI networking revenues beyond $3 billion in 2026, supported by strong co-design partnerships with hyperscalers and AI infrastructure players. This reflects Ullal’s strategy of embedding Arista in mission-critical, high-bandwidth environments where performance and software integration are essential, strengthening customer stickiness and pricing power over time.
Arista’s financial performance highlights the success of this approach. In 2025, the company generated $9 billion in revenue, marking a 28.6% year-over-year increase, while GAAP net income rose to $3.5 billion, with gross margins holding near 64%. Fourth-quarter 2025 revenue climbed nearly 29% year over year to $2.49 billion, and non-GAAP net income surpassed $1 billion, demonstrating strong operating leverage. Overall, Ullal has delivered a combination of rapid growth and sustained profitability, positioning Arista as a key beneficiary of AI-driven network investments while maintaining superior margins and cash generation compared with peers. Currently, Arista carries a Zacks Rank #2 (Buy).
Casey's: Ena Williams has been instrumental in reinforcing the operational foundation of Casey's General Stores, helping position the company for scalable expansion across its growing store network. As Chief Operating Officer, she leads key areas including store operations, fuel supply, real estate, construction and continuous improvement—functions that directly impact same-store sales, margin performance and execution consistency. Her appointment in 2020 aligned with Casey’s broader effort to streamline operations and advance its multi-year strategy, particularly through centralized procurement and improved efficiencies that support margin resilience in a competitive convenience retail landscape.
Her impact is most visible in driving operational scale and enhancing store-level productivity. With nearly 3,000 stores across multiple states, Williams has focused on standardizing processes, strengthening supply-chain efficiency and expanding the high-margin prepared food business, a core earnings driver. Drawing on her experience at large retail organizations, she has introduced disciplined execution across merchandising, logistics and workforce management, enabling Casey’s to integrate acquisitions smoothly and pursue organic growth while maintaining consistent service quality and customer engagement.
These operational improvements have supported steady top-line performance despite volatility in fuel markets. Casey’s generated roughly $4.6 billion in revenues in the first quarter of fiscal 2026, reflecting strong year-over-year growth driven by network expansion and in-store sales momentum. While fuel margins and traffic trends remain cyclical, Williams’ emphasis on efficiency and prepared food growth has helped sustain profitability and cash flow. Overall, her contribution centers on building a scalable, execution-focused operating model that supports long-term expansion, margin improvement and earnings stability across cycles. Currently, Casey’s carries a Zacks Rank #2.
Advanced Micro Devices: Lisa Su has been the key architect behind the turnaround of Advanced Micro Devices, transforming it from a PC-focused, underperforming chipmaker into a broad-based leader in high-performance computing and artificial intelligence. Since taking over as CEO in 2014, she has reshaped AMD’s strategic direction toward data centers, gaming and adaptive computing, while tightening operational discipline and execution. Her early emphasis on high-performance CPUs and GPUs—led by EPYC server processors and Ryzen chips—helped AMD regain competitiveness against larger rivals and significantly expand its presence in both server and PC markets.
In the past few years, Su’s most important contribution has been aligning AMD with the rapidly expanding AI infrastructure opportunity. She has accelerated investments in data center GPUs, open AI software ecosystems and large-scale computing platforms, including next-generation accelerators and rack-scale solutions aimed at competing with established industry leaders. At the same time, partnerships with hyperscale cloud providers and AI-focused enterprises, along with a steadily improving software stack, have strengthened AMD’s position in AI workloads. This strategic pivot is particularly important as AI spending is expected to remain a long-term growth driver across cloud, enterprise and sovereign deployments.
The benefits of Su’s strategy are clearly reflected in AMD’s latest financial performance. The company delivered record results in 2025, with data center revenue rising 32% year over year to $16.6 billion, while fourth-quarter data center sales reached a record $5.4 billion, driven by strong demand for EPYC processors and Instinct GPUs. AMD exited the year with record overall revenue and earnings, supported by growth across AI, client and gaming segments. From an equity standpoint, Su’s consistent execution and AI-focused strategy have reshaped AMD’s growth profile, shifting investor perception from a cyclical semiconductor play to a structurally driven, next-generation computing story. Currently, AMD carries a Zacks Rank #2.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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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.

Indicator	TTM Median
P/E	15.30 14.64
Price/Sales	0.51 1.48
P/B	2.37 1.46
P/FCF	51.02 10.18

Indicator	TTM Median
ROE	15.28 13.98
ROA	5.92 6.69
ROI	9.36 8.51
Net Worth	67.38 1.80
Quick Ratio	0.91 1.06
Current Ratio	1.30 1.26

Indicator	TTM Median
Net Profit Margin	3.33 14.29
Operating Margin	4.30 21.54
Gross Margin	12.30 48.17
Return on tangible equity	16.74 16.74

Indicator	TTM Median
EPS	2.52 0.39
EPS Forecast	2.11 0.35
Revenue	34.11B 220.00M
Gross Profit	4.97B —
EBITDA	4.47B —

Phillips 66

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