United Airlines Holdings, Inc., through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties. The company was formerly known as United Continental Holdings, Inc. and changed its name to United Airlines Holdings, Inc. in June 2019. United Airlines Holdings, Inc. was incorporated in 1968 and is headquartered in Chicago, Illinois.

Компания United Airlines демонстрирует смешанную картину по ключевым фундаментальным метрикам. С одной стороны, уровень ROE и EPS значительно выше медианы отрасли, что свидетельствует о высокой эффективности компаний. Однако, с другой стороны, мультипликаторы, такие как P/E и P/S, находятся на низком уровне, что может указывать на недооцененность, но также и на потенциальные риски. Долговая нагрузка остается высокой, что может повлиять на финансовую устойчивость компании в будущем. Текущие коэффициенты ликвидности (current_ratio и quick_ratio) также ниже отраслевых стандартов, что вызывает беспокойство по поводу платежеспособности. Тем не менее, рост выручки и чистой прибыли поддерживает позитивный взгляд на компанию. В целом, несмотря на некоторые сильные стороны, высокие долговые обязательства и низкие показатели ликвидности создают определенные риски, что приводит к необходимой корректировке целевой цены.

United Airlines Holdings, Inc.

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%.
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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

Landstar System, Inc. (LSTR) reported solid first-quarter 2026 results, wherein its earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.
Quarterly earnings of $1.16 per share surpassed the Zacks Consensus Estimate of $1.11 and grew 36.5% year over year (despite being unfavorably impacted by almost 10 cents related to the previously disclosed supply chain fraud matter). Revenues of $1.17 billion beat the Zacks Consensus Estimate of $1.15 billion and surged 1.6% year over year.
Operating income surged 35.1% from the prior-year quarter’s figure to $53.23 million. Total costs and expenses (on a reported basis) rose 0.4% year over year to $1.12 billion.
Landstar System, Inc. Price, Consensus and EPS Surprise
Landstar president and chief executive officer, Frank Lonegro, stated, “The Landstar team of independent business owners and employees executed well in a dynamic transportation backdrop, with our network generating higher truck transportation revenues and increased BCO utilization year-over-year. I was particularly pleased with our variable contribution performance, which reflected Landstar’s first year-over-year increase in variable contribution since the third quarter of 2022. We were encouraged by our improved first quarter results, attributable to a strengthening rate environment and the Company’s unwavering commitment to safety, security and service.”
LSTR’s Q1 Segmental Details
Total revenues in the truck transportation segment — contributing to 92.4% of the top line — amounted to $1.08 billion, up 3.1% from the year-ago quarter’s figure. The reported figure was in line with our expectations of $1.06 billion.
Rail intermodal revenues of $19.31 million rose 10.4% from the figure recorded in first-quarter 2025. The reported figure was below our expectations of $21.6 million.
Revenues in the ocean and air-cargo carrier segments fell 26.9% year over year to $47.96 million. The reported figure was below our expectations of $71.7 million.
Other revenues increased 10.5% year over year to $21.72 million. The reported figure was above our expectations of $16.8 million.
Liquidity, Dividends & Buyback
At the end of first-quarter 2026, Landstar had cash and cash equivalents of $353.25 million compared with $396.69 million recorded at the prior-quarter end. Additionally, long-term debt (excluding current maturities) totaled $43.14 million at the end of the first quarter compared with $48.48 million at the prior-quarter end.
During the first quarter of 2026, Landstar purchased 150,923 shares for $22.6 million. Landstar is currently authorized to purchase up to an additional 1,115,195 shares under its longstanding share purchase program. Landstar’s board of directorsalsoannounced a quarterly cash dividend of 40 cents per share payable on June 9, 2026, to stockholders of record as of the close of business on May 19, 2026.
Currently, Landstar carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Performances of Other Transportation Companies
Delta Air Lines (DAL) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis due to high labor costs. Adjusted revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis.
United Airlines Holdings, Inc. (UAL) reported solid first-quarter 2026 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate as well as improved on a year-over-year basis.
UAL's first-quarter 2026 adjusted earnings per share (EPS) (excluding 95 cents from non-recurring items) of $1.19 surpassed the Zacks Consensus Estimate of $1.08 and increased 30.8% on a year-over-year basis. The reported figure lies within the guided range of $1.00-$1.50.
Operating revenues of $14.6 billion outpaced the Zacks Consensus Estimate of $14.3 billion and increased 10.5% year over year. Passenger revenues (which accounted for 90.1% of the top line) increased 11% year over year to $13.1 billion. UAL flights transported 42,486 passengers in the first quarter, up 4.1% year over year.
Cargo revenues fell 1.6% year over year to $422 million. Revenues from other sources rose 10.5% year over year to $1.02 billion.
J.B. Hunt Transport Services JBHT posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, a 2.8% surprise.
Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.
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Landstar Q1 Earnings & Revenues Top Estimates, Improves Year Over Year

Old Dominion Freight Line, Inc. (ODFL) reported solid first-quarter 2026 results, wherein its earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly earnings per share of $1.14 beat the Zacks Consensus Estimate of $1.05 but dipped 4.2% year over year. The decrease in ODFL’s revenue and an increase in operating ratio resulted in a year-over-year decline in the bottom line in the first quarter.
Revenues of $1.33 billion beat the Zacks Consensus Estimate of $1.31 billion but decreased 2.9% year over year. The downside in ODFL’s first-quarter revenues was owing to a 7.7% decrease in LTL tons per day, which was partially offset by an increase in ODFL’s LTL revenue per hundredweight. The decrease in LTL tons per day reflects the net impact of a 7.9% decrease in LTL shipments per day and a 0.3% increase in LTL weight per shipment.
LTL revenue per hundredweight, excluding fuel surcharges, grew 4.4% year over year owing to the company’s long-term, disciplined approach to yield management.
Revenues from LTL services came in at $1.32 billion (down 2.9% year over year). Other services revenues fell 8.7% year over year to $12.8 million.
Old Dominion Freight Line, Inc. Price, Consensus and EPS Surprise
Old Dominion Freight Line, Inc. price-consensus-eps-surprise-chart | Old Dominion Freight Line, Inc. Quote
Marty Freeman, president and chief executive officer of Old Dominion, commented, “Old Dominion’s first quarter financial results reflect a continuation of encouraging trends that started developing late last year. While our first quarter revenue decreased on a year-over-year basis, demand for our LTL service improved as the quarter progressed. The improvement in demand, coupled with our ability to consistently deliver superior service to our customers, contributed to both the acceleration in our LTL volumes and improvement in our yield during the quarter. Our industry-leading service metrics for the first quarter once again included 99% on-time service and a claims ratio below 0.1%. These service standards form the foundation of our unmatched value proposition, which we believe will support our ability to win market share over the long term.”
Other Aspects of Q1 Earnings Report
In the quarter under review, LTL weight per shipment rose 0.3%, and LTL revenue per shipment inched up 5.9% year over year. LTL shipments and LTL shipments per day were both down 7.9% on a year-over-year basis. LTL revenue per hundredweight, excluding fuel surcharges, grew 4.4% year over year.
Total operating expenses declined 1.9% year over year to $1.02 billion. The operating income decreased 6.1% year over year to $317.34 million. Operating ratio (operating expenses as a percentage of revenues) increased to 76.2% from 75.4% in the year-ago quarter.
Old Dominion exited the March-end quarter with cash and cash equivalents of $288.08 million compared with $120.09 million at the end of the prior quarter. Long-term debt at the end of the first quarter of 2026 was $19.9 million, flat sequentially.
During the first quarter of 2026, Old Dominion rewarded its shareholders with $88.1 million through its share repurchases and paid $60.5 million in the form of dividend payments.
ODFL generated $373.6 million of net cash from operating activities during the first quarter of 2026. Capital expenditures were $62.6 million for the first quarter of 2026.
Outlook
For 2026, ODFL continues to anticipate its aggregate capital expenditures to be around $265 million, which includes planned expenditures of $125 million for real estate and service center expansion projects, $95 million for tractors and trailers and $45 million for information technology and other assets.
Currently, Old Dominion carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Performances of Other Transportation Companies
Delta Air Lines (DAL) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis due to high labor costs. Adjusted revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis.
United Airlines Holdings, Inc. (UAL) reported solid first-quarter 2026 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate as well as improved on a year-over-year basis.
UAL's first-quarter 2026 adjusted earnings per share (EPS) (excluding 95 cents from non-recurring items) of $1.19 surpassed the Zacks Consensus Estimate of $1.08 and increased 30.8% on a year-over-year basis. The reported figure lies within the guided range of $1.00-$1.50.
Operating revenues of $14.6 billion outpaced the Zacks Consensus Estimate of $14.3 billion and increased 10.5% year over year. Passenger revenues (which accounted for 90.1% of the top line) increased 11% year over year to $13.1 billion. UAL flights transported 42,486 passengers in the first quarter, up 4.1% year over year.
Cargo revenues fell 1.6% year over year to $422 million. Revenues from other sources rose 10.5% year over year to $1.02 billion.
J.B. Hunt Transport Services JBHT posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, a 2.8% surprise.
Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.
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.
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Old Dominion Q1 Earnings & Revenues Beat Estimates, Down Y/Y

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%.
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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

The S&P 500 Index ($SPX) (SPY) today is down -0.19%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.57%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.20%. June E-mini S&P futures (ESM26) are down -0.15%, and June E-mini Nasdaq futures (NQM26) are up +0.21%.
Stock indexes are mixed today. 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 +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 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 +4% 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 Tue-Wed 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 -0.12%. China's Shanghai Composite closed up +0.71%. Japan's Nikkei Stock 225 did not trade with markets closed in Japan for the Showa Day holiday.
Interest Rates
June 10-year T-notes (ZNM6) today are down -10 ticks. The 10-year T-note yield is up +3.8 bp to 4.384%. Jun T-notes fell to a 4-week low, and the 10-year T-note yield rose to a 4-week high of 4.400%. T-notes are under pressure today amid rising crude oil prices, with WTI up more than +4% 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 2-week high of 3.093% and is up +2.0 bp to 3.087%. The 10-year UK gilt yield climbed to a 1-month high of 5.031% and is up +2.2 bp to 5.028%.
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 an 11% 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 +23% 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 +16% 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%.
Airlines and cruise line operators are under pressure today with WTI crude oil up more than +3% at a 2-week high. United Airlines Holdings (UAL), Alaska Air Group (ALK), Carnival (CCL), and Norwegian Cruise Line Holdings (NCLH) are down more than -2%. Also, American Airlines Group (AAL), Royal Caribbean Cruises (RCL), Delta Air Lines (DAL), and Southwest Airlines (LUV) are down more than -1%.
Bloom Energy (BE) is 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.
Rush Street Interactive (RSI) is up more than +14% 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 +11% after reporting Q1 net sales of $1.06 billion, better than the consensus of $1.05 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 +6% 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%.
Fair Isaac Corp (FICO) is up more than +4% after reporting Q2 revenue of $691.7 million, well above the consensus of $638.4 million.
Teradyne (TER) is down more than -13% 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 -11% 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 -10% after reporting Q1 net revenue of $1.07 billion, below the consensus of $1.14 billion.
Brown-Forman (BF.B) is down more than -9% 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 Pressured as Soaring Crude Prices Raise Inflation Concerns

United Parcel Service, Inc. (UPS) reported solid first-quarter 2026 results, wherein the company’s earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly earnings per share (excluding 5 cents from non-recurring items) of $1.07 beat the Zacks Consensus Estimate of $1.04 but declined 28.2% year over year. Revenues of $21.2 billion surpassed the Zacks Consensus Estimate of $21 billion but decreased 1.6% year over year.
United Parcel Service, Inc. Price, Consensus and EPS Surprise
Other Aspects of Q1 Earnings Report
U.S. Domestic Package revenues of $14.1 billion (above our estimate of $13.8 billion) decreased 2.3% year over year, owing to an expected decline in volume. Revenue per piece grew 8.3% year over year. Segmental operating profit (adjusted) fell 44.1% year over year to $565 million. The adjusted operating margin for the segment was 4%.
Revenues in the International Package division totaled $4.54 billion (above our estimate of $4.38 billion), which increased 3.8% year over year, owing to a 10.7% increase in revenue per piece. Segmental operating profit (adjusted) totaled $551 million, down 15.7% year over year. The adjusted operating margin for the segment was 12.1%.
Supply Chain Solutions’ revenues of $2.53 billion (below our estimate of $2.81 billion) decreased 6.5% year over year, owing to a decline in volume in the Mail Innovations business. Operating profit (on an adjusted basis) rose more than 100% year over year to $206 million. The adjusted operating margin for the segment was 8.1%.
The overall adjusted operating margin was 6.2%.
UPS’ 2026 Outlook Reaffirmed
Management has reinstated full-year 2026 sales guidance, projecting revenues of approximately $89.7 billion, above the Zacks Consensus Estimate of $89.3 billion as well as the 2025 reported figure of $88.7 billion.
Adjusted operating margin is still expected to be around 9.6%. Capital expenditures are estimated to be around $3 billion, with dividend payments expected to be around $5.4 billion (subject to board approval). The effective tax rate is expected to be around 23%.
Currently, UPS carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Performances of Other Transportation Companies
Delta Air Lines (DAL) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis due to high labor costs. Adjusted revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis.
United Airlines Holdings, Inc. (UAL) reported solid first-quarter 2026 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate and improved on a year-over-year basis.
UAL's first-quarter 2026 adjusted earnings per share (EPS) (excluding 95 cents from non-recurring items) of $1.19 surpassed the Zacks Consensus Estimate of $1.08 and increased 30.8% on a year-over-year basis. The reported figure lies within the guided range of $1.00-$1.50.
Operating revenues of $14.6 billion outpaced the Zacks Consensus Estimate of $14.3 billion and increased 10.5% year over year. Passenger revenues (which accounted for 90.1% of the top line) increased 11% year over year to $13.1 billion. UAL flights transported 42,486 passengers in the first quarter, up 4.1% year over year.
Cargo revenues fell 1.6% year over year to $422 million. Revenues from other sources rose 10.5% year over year to $1.02 billion.
J.B. Hunt Transport Services JBHT posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, a 2.8% surprise.
Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.
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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.

UPS Q1 Earnings & Revenues Surpass Estimates, Down Year Over Year

Apple's CEOs, Intel & AI, and Another SaaSpocalype

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.12%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.01%. June E-mini S&P futures (ESM26) rose +0.14%, and June E-mini Nasdaq futures (NQM26) fell -0.02%.
Stock indexes settled mostly higher on Monday, with the S&P 500 and Nasdaq 100 posting new all-time highs. Optimism that demand for AI-infrastructure will remain strong and continue to power technology earnings boosted stocks on Monday. The megacap technology stocks of Alphabet, Apple, Amazon.com, Microsoft, and Meta Platforms all report quarterly earnings this week.
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The broader market saw some downward pressure from Monday’s +2% rally in WTI crude oil prices, which raised inflation expectations. Crude oil prices jumped after President Trump on Saturday canceled planned negotiations with Iran in Pakistan, saying Iran "offered a lot, but not enough" to continue negotiations. Iranian President Pezeshkian said Iran won't enter "imposed negotiations under threats or blockade." Secretary of State Rubio said Iran still wants to retain control of the Strait of Hormuz, and that was "unacceptable" to the US.
However, AI-infrastructure stocks found support on Monday after TF International Securities said that Qualcomm is working with OpenAI and Taiwan’s MediaTek to develop smartphone processors. Also, Micron Technology and SanDisk both received buy ratings from Melius Research. In addition, strength in health insurers was a positive factor for the market.
Stock indexes found support from the Axios report that Iran has given the US a new proposal to reopen the Strait of Hormuz and end the war, which includes postponing nuclear negotiations. The plan calls for extending the ceasefire so the parties can work toward a permanent end to the war, and nuclear talks would come later, only after a US blockade of the strait is lifted. The White House said Monday afternoon that President Trump is discussing the proposal with national security and foreign policy officials.
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 increased pressure on Iran with its naval blockade as it seeks to get Iran to agree to talks, while Israel and Lebanon are set to extend a ceasefire for three weeks.
WTI crude oil prices (CLM26) rose by more than +2% on Monday after President Trump canceled a planned weekend trip by US envoys to Pakistan and Iran said it won’t negotiate while the US naval blockade of Iran remains in force. The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis. 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.
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 this Wednesday 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 Tue-Wed 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 Monday, 80% of the 139 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 Monday. The Euro Stoxx 50 closed down -0.39%. China's Shanghai Composite closed up +0.16%. Japan's Nikkei Stock 225 rallied to a new record high and closed up +1.38%.
Interest Rates
June 10-year T-notes (ZNM6) on Monday closed down -6 ticks. The 10-year T-note yield rose +3.6 bp to 4.337%. June T-notes retreated on Monday due to the +2% increase in the price of WTI crude oil, which boosts inflation expectations. The 10-year breakeven inflation rate rose to a 14-month high of 2.457% on Monday. Supply pressures also weighed on T-note prices, as the Treasury auctioned $69 billion of 2-year T-notes and $70 billion of 5-year T-notes.
Demand for Monday’s Treasury auctions was mixed. The 2-year T-note auction saw decent demand, with a bid-to-cover ratio of 2.65, above the 10-auction average of 2.60, while demand for the 5-year T-note auction was tepid, with a bid-to-cover ratio of 2.33, below the 10-auction average of 2.35.
European government bond yields moved higher on Monday. The 10-year German bund yield rose +3.9 bp to 3.033%. The 10-year UK gilt yield rose +6.0 bp to 4.972%.
The German May GfK consumer confidence index fell -5.2 to a 3.25-year low of -33.3, weaker than expectations of -30.0.
Swaps are discounting a 6% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
Health insurance stocks rallied on Monday to provide support to the overall market. Centene (CNC) closed up more than +4%, and Elevance Health (ELV) and Humana (HUM) closed up more than +3%. Also, UnitedHealth Group (UNH) and the Cigna Group (CI) closed up more than +2%, and Cardinal Health (CAH) and Molina Healthcare (MOH) closed up more than +1%.
Airline stocks and cruise line operators fell on Monday after WTI crude oil rose more than +2%, which raises fuel costs and weighs on corporate profits. American Airlines Group (AAL) closed down more than -3%, and Alaska Air Group (ALK), Royal Caribbean Cruises Ltd (RCL), and Southwest Airlines (LUV) closed down more than -2%. Also, United Airlines Holdings (UAL), Carnival (CCL), and Norwegian Cruise Line Holdings Ltd (NCLH) closed down more than -1%, and Delta Air Lines (DAL) closed down -0.37%.
Chipmakers moved lower on Monday, weighing on the broader market. ARM Holdings Plc (ARM) closed down more than -8% to lead losers in the Nasdaq 100. Also, Advanced Micro Devices (AMD), Marvell Technology (MRVL), and Lam Research (LRCX) closed down more than -3%. In addition, Applied Materials (AMAT), Microchip Technology (MCHP), NXP Semiconductors NV (NXPI), KLA Corp (KLAC), and Texas Instruments (TXN) closed down more than -2%, and Analog Devices (ADI) and ASML Holding NV (ASML) closed down more than -1%.
Sandisk (SNDK) closed up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Micron Technology (MU) closed up more than +5% after Melius Research LLC initiated coverage on the stocks with buy recommendations.
Stanley Black & Decker (SWK) closed up more than +4% after its board authorized a $500 million stock buyback program.
Verizon Communications (VZ) closed up more than +1% to lead gainers in the Dow Jones Industrials after boosting its full-year adjusted EPS forecast to $4.95-$4.99 from a previous forecast of $4.90-$4.95, stronger than the consensus of $4.90.
Fortinet (FTNT) closed up more than +1% after Arete double-upgraded the stock to buy from sell with a price target of $104.
Crowdstrike Holdings (CRWD) closed up more than +1% after Mizuho Securities upgraded the stock to outperform from neutral with a price target of $520.
VeraDermics (MANE) closed up more than +46% after reporting that its oral extended-release minoxidil formulation VDPHL01 met all primary and key secondary endpoints with high statistical significance in a Phase 2/3 clinical trial for male pattern baldness.
Organon & Co. (OGN) closed up more than +16% after Sun Pharmaceutical Industries Ltd. had lined up a short-term loan to finance its $12 billion acquisition of the company.
Oruka Therapeutics (ORKA) closed up more than +10% after giving positive results from a mid-stage trial of its therapy to treat plaque psoriasis.
Domino’s Pizza (DPZ) closed down more than -8% to lead losers in the S&P 500 after reporting Q1 revenue of $1.15 billion, below the consensus of $1.16 billion.
GE Vernova (GEV) closed down more than -2% after BNP Paribas downgraded the stock to neutral from buy.
Adobe (ADBE) closed down more than -2% after Mizuho Securities downgraded the stock to neutral from outperform.
Earnings Reports(4/28/2026)
Allegion plc (ALLE), American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Avery Dennison Corp (AVY), Booking Holdings Inc (BKNG), BXP Inc (BXP), Centene Corp (CNC), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Ecolab Inc (ECL), Edison International (EIX), Equity Residential (EQR), Essex Property Trust Inc (ESS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), F5 Inc (FFIV), Fair Isaac Corp (FICO), FirstEnergy Corp (FE), Franklin Resources Inc (BEN), General Motors Co (GM), Hilton Worldwide Holdings Inc (HLT), Incyte Corp (INCY), Ingersoll Rand Inc (IR), Invesco Ltd (IVZ), Kimberly-Clark Corp (KMB), Mondelez International Inc (MDLZ), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), ONEOK Inc (OKE), PACCAR Inc (PCAR), Pentair PLC (PNR), PPG Industries Inc (PPG), Robinhood Markets Inc (HOOD), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Starbucks Corp (SBUX), Sysco Corp (SYY), Teradyne Inc (TER), T-Mobile US Inc (TMUS), United Parcel Service Inc (UPS), Veralto Corp (VLTO), Visa Inc (V), Waste Management Inc (WM), Welltower Inc (WELL), Xylem Inc/NY (XYL), Zimmer Biomet Holdings Inc (ZBH).
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.

Tech Earnings Optimism Powers Stocks Higher

Knight-Swift Transportation Holdings Inc.’s (KNX) first-quarter 2026 adjusted earnings of 9 cents per share matched the Zacks Consensus Estimate but declined 67.9% year over year. The reported figure came below the guided range of 28-32 cents.
Total revenues of $1.85 million almost came in line with the Zacks Consensus Estimate and grew 1.4% year over year. Revenues, excluding truckload and LTL fuel surcharge, grew 0.3% year over year to $1.63 billion.
Knight-Swift Transportation Holdings Inc. Price, Consensus and EPS Surprise
Knight-Swift Transportation Holdings Inc. price-consensus-eps-surprise-chart | Knight-Swift Transportation Holdings Inc. Quote
Total operating expenses (on a reported basis) grew 3.6% year over year to $1.82 billion.
KNX’s Q1 Segmental Results
Revenues (excluding fuel surcharge and inter-segment transactions) from Truckload totaled $1.05 billion (below our estimate of $1.18 billion), down 0.3% year over year, owing to a 1.4% improvement in revenue per loaded mile, excluding fuel surcharge and intersegment transactions, largely offset by a 1.8% decrease in loaded miles. Adjusted operating income fell 16.4% year over year. The first-quarter adjusted operating ratio was 70 basis points higher year over year.
The Less-Than-Truckload segment generated revenues (excluding fuel surcharges) worth $313.13 million in the first quarter, up 2.6% year over year, owing to a 5.2% increase in weight per shipment and an 8.5% increase in length of haul, offset by a 1.0% decrease in shipments per day. Revenue per hundredweight, excluding fuel surcharge, fell 0.7% year over year, driven by the increase in weight per shipment, while renewal rates continue their recent trend of mid-single-digit percentage increases. Revenue per shipment, excluding fuel surcharge, increased 4.4% year over year. Adjusted operating income fell 93.1% year over year, and the adjusted operating ratio of 99.6% grew 540 basis points year over year.
Revenues from Logistics (excluding inter-segment transactions) amounted to $127.60 million, down 9.9% year over year, owing to an 18.9% decline in load count, partially offset by a 10.4% increase in revenue per load. Adjusted operating income decreased 24.1% year over year to $4.78 million. The adjusted operating ratio grew 70 bps to 96.2%.
Intermodal revenues (excluding inter-segment transactions) totaled $93.58 million, up 2.7% year over year, as 1.6% increase in revenue per load and a 1.2% increase in load count offset headwinds from winter weather in the reported quarter.
Within the All Other Segments, revenues grew 13.5%, and operating results declined more than 100% year over year, owing to the inclusion of $5.2 million of costs for the accounts receivable securitization program and startup costs on new contract awards in the company’s warehousing business.
Liquidity
Knight-Swift exited the first quarter with cash and cash equivalents of $222.77 million compared with $220.42 million at the prior-quarter end. Long-term debt (excluding current maturities) was $706.02 million compared with $1.02 billion at the end of the prior quarter.
KNX’s Guidance
KNX expects its second-quarter 2026 adjusted earnings per share to be in the range of 45-49 cents. The Zacks Consensus Estimate of 47 cents lies within the guidance.
Truckload Segment revenue, excluding fuel surcharge, is expected to be up low single-digit percent year over year, with operating margins improving 100 to 200 basis points year over year for the second quarter. LTL segment revenues, excluding fuel surcharge, are expected to be up low single-digit percent year over year in the second quarter, driven by mix and yield improvement, with shipment count relatively stable year over year.
Logistics segment revenues are expected to be low-to-mid single-digit percent year over year in the second quarter. Intermodal Segment load count is expected to be up in the high single to low double-digit percent sequentially in the second quarter. All Other Segments’ operating income, before including the $11.5 million quarterly intangible asset amortization, is anticipated to be between $14 million and $18 million in the second quarter.
Net interest expense is expected to be fairly flat sequentially in the second quarter. Net cash capital expenditures for 2026 are expected to be in the range of $600 million-$650 million (prior view: $625 million-$675 million). Adjusted tax rate is expected to be between 25.5% and 26.5% for the second quarter of 2026 and for 2026.
Currently, KNX carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Performances of Other Transportation Companies
Delta Air Lines (DAL) reported first-quarter 2026 earnings (excluding $1.08 from non-recurring items) of 64 cents per share, which beat the Zacks Consensus Estimate of 61 cents. Earnings increased 39.1% on a year-over-year basis due to high labor costs. Adjusted revenues in the March-end quarter were $14.2 billion, beating the Zacks Consensus Estimate of $14 billion and increasing on a year-over-year basis.
United Airlines Holdings, Inc. (UAL) reported solid first-quarter 2026 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate and improved on a year-over-year basis.
UAL's first-quarter 2026 adjusted earnings per share (EPS) (excluding 95 cents from non-recurring items) of $1.19 surpassed the Zacks Consensus Estimate of $1.08 and increased 30.8% on a year-over-year basis. The reported figure lies within the guided range of $1.00-$1.50.
Operating revenues of $14.6 billion outpaced the Zacks Consensus Estimate of $14.3 billion and increased 10.5% year over year. Passenger revenues (which accounted for 90.1% of the top line) increased 11% year over year to $13.1 billion. UAL flights transported 42,486 passengers in the first quarter, up 4.1% year over year.
Cargo revenues fell 1.6% year over year to $422 million. Revenues from other sources rose 10.5% year over year to $1.02 billion.
J.B. Hunt Transport Services JBHT posted first-quarter 2026 earnings per share of $1.49, up 27% from $1.17 a year ago. The result topped the Zacks Consensus Estimate by $0.04, a 2.8% surprise.
Operating revenues totaled $3.06 billion, rising 4.6% year over year. Revenues beat the consensus mark of $2.94 billion, resulting in a 3.9% surprise, as demand proved resilient across several service offerings, led by Intermodal volume growth and higher revenue per load in select highway-related businesses.
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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.

Indicator	TTM Median
P/E	9.68 24.84
Price/Sales	0.55 1.43
P/B	2.24 2.53
P/FCF	8.51 19.47

Indicator	TTM Median
ROE	24.13 15.45
ROA	4.38 6.27
ROI	9.43 9.37
Net Worth	32.34 1.47
Quick Ratio	0.59 1.16
Current Ratio	0.65 1.59

Indicator	TTM Median
Net Profit Margin	5.68 7.32
Operating Margin	7.99 10.08
Gross Margin	69.61 32.41
Return on tangible equity	54.50 26.20

Indicator	TTM Median
EPS	1.19 0.62
EPS Forecast	1.08 0.58
Revenue	15.40B 194.00M
Gross Profit	10.30B —
EBITDA	1.39B —

United Airlines Holdings, Inc.

Recent quarterly and TTM performance

Valuation

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Revenue