The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. It owns and leases real estate properties. The company was formerly known as Wendy's/Arby's Group, Inc. and changed its name to The Wendy's Company in July 2011. The Wendy's Company was founded in 1969 and is headquartered in Dublin, Ohio.

У Wendy’s сильная операционная рентабельность сочетается с очень высокой долговой нагрузкой и слабой базой капитала, поэтому картина для инвестора получается смешанной. P/E на уровне 9.62 выглядит заметно ниже отраслевой медианы и поддерживает идею умеренной недооценки по прибыли, тем более что P/FCF тоже ниже медианы и за год заметно снизился. При этом P/B остаётся экстремально высоким относительно отрасли, что отражает тонкий собственный капитал и делает оценку по балансу уязвимой. P/S лишь немного выше медианы, а его снижение по годам выглядит позитивно и говорит о более дешёвой оценке выручки, чем ранее. Маржа валовой прибыли, операционная маржа и чистая маржа находятся выше отраслевых ориентиров, что подтверждает способность бизнеса генерировать прибыль на уровне выше среднего. Однако ROA и ROI ниже медианы и не улучшаются, а это означает, что активы и вложенный капитал используются не так эффективно, как хотелось бы при таком уровне долговой нагрузки. ROE формально очень высокий, но он сильно искажается минимальным собственным капиталом, поэтому воспринимать его как устойчивое преимущество нужно осторожно. Долг к капиталу и долгосрочный долг остаются ключевым риском: показатель debt/equity резко выше отрасли и за год вырос, а это ограничивает потенциал переоценки. Ликвидность, наоборот, выглядит приемлемо: current ratio и quick ratio выше отраслевых уровней, а денежная позиция достаточна для краткосрочной устойчивости. Выручка и операционная прибыль в абсолюте не демонстрируют убедимого роста, а чистая прибыль за последний период снизилась, что сдерживает оптимизм по будущему EPS. Прогнозный EPS ниже отраслевой медианы и тоже не выглядит сильным драйвером роста оценки. Дивидендная доходность умеренная и немного улучшилась, что добавляет инвестиционной привлекательности, но не компенсирует долговые риски. В целом фундаментал скорее поддерживает текущую оценку с небольшим понижательным уклоном: бизнес качественный по марже, но баланс перегружен долгом, а прибыльность на активы и капитал не настолько сильна, чтобы оправдать более агрессивный целевой ориентир.

Wendy's Company (The)

Сильные маржи и недорогие P/E и P/FCF сочетаются с высоким долгом и слабой балансовой устойчивостью, поэтому оценка выглядит лишь умеренно привлекательной.

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Wendy's (WEN) Q1 2026 Earnings Call Transcript

McDonald’s Corporation MCD appears to be strengthening its position in the fast-food value battle as consumers remain cautious about spending. During its first-quarter 2026earnings call management emphasized that value has become the foundation of the company’s growth strategy, helping it to attract customers despite ongoing economic uncertainty.
The company delivered solid first-quarter results, with global comparable sales rising 3.8% and market share gains across nearly all of its top markets. Management credited this performance to a combination of affordable menu offerings, effective marketing campaigns and targeted menu innovation. McDonald’s leadership reiterated that it does not intend to lose its competitive edge on affordability.
In the United States, McDonald’s expanded its value platform by introducing an everyday menu featuring items priced below $3 and a $4 Breakfast Meal Deal. These additions complement existing meal bundles and are designed to appeal to budget-conscious consumers. The company noted that earlier value initiatives successfully improved perceptions of affordability while helping regain traffic from lower-income customers who had reduced spending amid inflationary pressures.
McDonald’s value-focused approach is not limited to the U.S. International markets such as the United Kingdom, Germany and Australia also reported strong performance, supported by affordable meal bundles and localized value programs. These markets delivered share gains even as quick-service restaurant traffic weakened in many regions.
While management acknowledged that rising fuel costs and economic uncertainty continue to pressure lower-income consumers, McDonald’s believes its combination of value, marketing and menu innovation positions it well to outperform competitors. The company’s ability to gain market share in a challenging environment suggests that its value strategy is resonating. For now, McDonald’s appears to be winning the value wars by giving customers affordable options without sacrificing brand relevance or growth momentum.
How Rivals Are Responding to the Value-Focused Consumer
McDonald’s is not the only restaurant chain competing for budget-conscious customers. Two major rivals, Restaurant Brands International's QSR Burger King and Wendy’s Company WEN, have also intensified their value offerings as consumers become more selective with discretionary spending.
Burger King has leaned heavily on limited-time value meals and digital promotions to drive traffic. The chain has paired affordability initiatives with menu upgrades and restaurant remodels to improve customer perception. While these efforts have supported traffic trends, McDonald’s broader scale and more established value platform give it a competitive advantage in reaching a wider customer base.
Meanwhile, Wendy’s has focused on its value menu and app-based discounts to attract cost-conscious diners. The company continues to promote low-priced meal bundles while balancing profitability through premium menu innovation. However, Wendy’s smaller international footprint limits its ability to replicate value-driven success across multiple markets.
Compared with both competitors, McDonald’s benefits from a globally coordinated strategy that combines affordable pricing, strong marketing campaigns and menu innovation. This integrated approach has helped the company gain market share in several key regions, positioning it favorably in the ongoing battle for value-seeking consumers.
MCD’s Price Performance, Valuation & Estimates
McDonald’s shares have declined 10.7% in the past year, underperforming the Zacks Retail - Restaurants industry, the broader Retail and Wholesale sector and the S&P 500 index.
MCD 1-Year Price Performance
Image Source: Zacks Investment Research
In terms of its forward 12-month price-to-earnings ratio, MCD is trading at 20.8, down from the industry’s 22.43.
MCD P/E (F12M)
Image Source: Zacks Investment Research
MCD’s earnings estimates for 2026 and 2027 have trended downward in the past 30 days. The revised estimates for 2026 and 2027 imply year-over-year growth of 6% and 9.2%, respectively.
Image Source: Zacks Investment Research
MCD currently carries a Zacks Rank #4 (Sell).
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Is McDonald's Winning the Value Wars in a Tough Economy?

Key Points
Wendy's U.S. sales are falling sharply, down 7.8% in the first quarter of 2026.
International sales are a bright spot for Wendy's and grew 6% systemwide in the first quarter.
Wendy's (NASDAQ: WEN) is hoping a strategic move into China will reignite the brand that has struggled mightily in the U.S. in recent years. The Dublin, Ohio-based burger chain announced its first-quarter results on May 8, and the numbers were not good.
Global sales fell 5.5% in the first quarter, largely driven by weak U.S. restaurant performance, which was down 7.8%. This is an acceleration of the brand's weakening sales performance compared to the same period last year.
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Wendy's has closed more than 200 locations in the U.S. in the past year. However bad it may be at home, Wendy's recently signed a new agreement with China to open up to 1,000 restaurants over the next decade. This is a bold move for the company, but it isn't unheard of, as competitors such as McDonald's and Starbucks already have established footprints in China.
This is all part of an internal initiative called "Project Fresh," which will also focus on menu upgrades such as a spicy chicken sandwich.
The move to China should give Wendy's investors some hope. International sales have been a bright spot for the chain. Frankly, the company needed to make a bold move to right the ship, and this is the most promising pivot available.
Wendy's investors will still need to remain patient since this is a multiyear effort, but with the stock priced so low right now -- if you're bullish on more American burgers in China -- it could be a good time to buy and hold for a while. Wendy's stock is down more than 31% over the past 12 months and more than 63% over the past five years. Its trailing P/E ratio is only about 9.5. There's a long road ahead, but the future of Wendy's hinges on its success outside of the U.S.
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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.

Will a Strategic Pivot to China Save Struggling Wendy's?

The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.16%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.87%. June E-mini S&P futures (ESM26) fell -0.16%, and June E-mini Nasdaq futures (NQM26) fell -0.90%.
Stock indexes settled mixed on Tuesday. The broader market was under pressure amid weakness in technology stocks, following Monday’s rally that pushed the S&P 500 and Nasdaq 100 to new record highs. The ongoing stalemate in the Middle East between the US and Iran is keeping the Strait of Hormuz closed, weighing on market sentiment, and pushing crude oil prices and bond yields higher. The 10-year T-note yield rose +5 bp to 4.46%.
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Stock indexes added to their losses on Tuesday amid signs of accelerating inflation after the US Apr CPI rose 3.8% y/y, stronger than the 3.7% y/y expected and the largest increase in almost 3 years. Also, Apr core CPI rose +2.8% y/y, stronger than expectations of +2.7% y/y and the largest increase in six months.
However, stock indexes bounced off their lows, and the Dow Jones Industrial Average moved into positive territory on the strength of health insurance stocks.
Hawkish comments on Tuesday from Chicago Fed President Austan Goolsbee were bearish for stocks and bonds, as he said the worst part of today's April CPI report is services inflation and that "the Fed has got to be thinking about how do we break the chain of escalating inflation."
In the latest developments in the Middle East, President Trump called Iran's response to his peace proposal a "piece of garbage" and said that the current ceasefire was on "life support." Mr. Trump said, "Iran will make a deal or be decimated."
WTI crude oil prices (CLM26) rose more than 4% on Tuesday, as President Trump cast doubt over the ceasefire with Iran, saying the truce was on “massive life support,” prolonging the closure of the Strait of Hormuz. The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 4% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of Tuesday, 83% of the 454 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 Tuesday. The Euro Stoxx 50 closed down -1.48%. China's Shanghai Composite fell from a 10-year high and closed down -0.25%. Japan's Nikkei Stock Average closed up +0.52%.
Interest Rates
June 10-year T-notes (ZNM6) on Tuesday closed down -12 ticks. The 10-year T-note yield rose +4.9 bp to 4.462%. Jun T-notes matched last Monday’s 6-week low on Tuesday, and the 10-year T-note yield rose to a 6-week high of 4.465%. T-notes were under pressure on Tuesday amid a +4% surge in WTI crude oil prices, which boosted inflation expectations. Also, Tuesday’s stronger-than-expected US April CPI reports signal accelerating inflation, a bearish factor for T-notes. In addition, T-notes weakened on comments from Chicago Fed President Austan Goolsbee, who said the US has an inflation problem.
T-note price fell further on Tuesday afternoon amid weak demand for the Treasury’s $42 billion auction of 10-year T-notes that had a bid-to-cover ratio of 2.40, below the 10-auction average of 2.49.
European government bond yields moved higher on Tuesday. The 10-year German Bund yield rose to a 1.5-week high of 3.105% and finished up +6.1 bp to 3.101%. The 10-year UK gilt yield surged to a 17-year high of 5.135% and finished up +10.3 bp to 5.101%.
The German May ZEW survey expectation of economic growth unexpectedly rose +7.0 to -10.2, stronger than expectations of a decline to -19.5.
ECB Governing Council member Christodoulos Patsalides said, "As things stand, inflation risks are worsening," which points to an ECB interest rate hike in June.
Swaps are discounting an 87% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers were on the defensive Tuesday, giving back some of Monday’s sharp gains as the AI infrastructure rally cooled. Qualcomm (QCOM) closed down more than -11% to lead losers in the S&P 500 and Nasdaq 100, and Intel (INTC) closed down more than -6%. Also, Sandisk (SNDK) and Western Digital (WDC) closed down more than -5%, and Micron Technology (MU), Marvell Technology (MRVL), and NXP Semiconductors NV (NXPI) closed down more than -3%. In addition, Applied Materials (AMAT), Advanced Micro Devices (AMD), ASML Holding NV (ASML), Seagate Technology Holdings Plc (STX), Lam Research (LRCX), ARM Holdings Plc (ARM), and Broadcom (AVGO) closed down more than -2%.
Software stocks retreated on Tuesday, weighing on the overall market. Salesforce (CRM) closed down more than -3% to lead losers in the Dow Jones Industrials. Also, Oracle (ORCL) closed down more than -3%, and ServiceNow (NOW), Adobe Systems (ADBE), and Atlassian Corp (TEAM) closed down more than -2%. In addition, Microsoft (MSFT), Intuit (INTU), Datadog (DDOG), and Workday (WDAY) closed down more than -1%.
Defensive health insurance stocks rallied on Tuesday, providing support to the overall market. Humana (HUM) closed up more than +7%, and Centene (CNC) closed up more than +5%. Also, UnitedHealth Group (UNH) closed up more than +3% to lead gainers in the Dow Jones Industrials, and Elevance Health (ELV), United Health Services (UHS), CVS Health Corp (CVS), the Cigna Group (CI), and Molina Healthcare (MOH) closed up more than +3%.
Power Solutions International (PSIX) closed down more than -38% after reporting Q1 revenue of $128.6 million, well below the consensus of $161 million.
Hims & Hers Health (HIMS) closed down more than -13% after reporting Q1 revenue of $608.1 million, weaker than the consensus of $617.5 million, and forecasting full-year adjusted Ebitda of $275 million to $350 million, the midpoint below the consensus of $319.3 million.
AST SpaceMobile (ASTS) closed down more than -11% after reporting a Q1 net loss of -$191.0 million, a wider loss than expectations of -$76.3 million.
Gitlab (GTLB) closed down by more than -9% after announcing plans to cut jobs and make operational changes, moves Raymond James said will be challenging.
Webtoon Entertainment (WBTN) closed down more than -8% after forecasting Q2 revenue of $332 million to $342 million, well below the consensus of $359.9 million.
West Pharmaceutical Services (WST) closed down more than -2% after saying it has experienced a material cybersecurity attack that has disrupted operations globally.
PACS Group (PACS) closed up more than +29% after reporting Q1 revenue of $1.42 billion, stronger than the consensus of $1.36 billion, and raising its full-year Ebitda forecast to $605 million-$625 million from a previous forecast of $555 million-$575 million, well above the consensus of $567 million.
Wendy’s (WEN) closed up more than +17% after the Financial Times reported that Trian Fund Management is seeking investor backing for a bid to take the company private.
Venture Global (VG) closed up more than +14% after reporting Q1 adjusted net income of $488.0 million, well above the consensus of $337.2 million.
Zebra Technologies (ZBRA) closed up more than +11% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $4.75, stronger than the consensus of $4.25, and raising its full-year adjusted EPS forecast to $18.30 to $18.70 from a previous forecast of $17.70 to $18.30.
Qnity Electronics (Q) closed up more than +9% after reporting Q1 net sales of $1.42 billion, above the consensus of $1.27 billion.
Steris Plc (STE) closed up more than +4% after forecasting 202y adjusted EPS from continuing operations of $11.10 to $11.30, above the consensus of $11.08.
Earnings Reports(5/13/2026)
Amdocs Ltd (DOX), Birkenstock Holding Plc (BIRK), Cisco Systems Inc (CSCO), Doximity Inc (DOCS), Dynatrace Inc (DT).
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 Settle Mixed on Tech Weakness and Inflation Pressures

The S&P 500 Index ($SPX) (SPY) today is down -0.74%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.45%. June E-mini S&P futures (ESM26) are down -0.74%, and June E-mini Nasdaq futures (NQM26) are down -1.43%.
Stock indexes are under pressure today as weakness in technology stocks weighs on the overall market, following Monday’s rally that pushed the S&P 500 and Nasdaq 100 to new record highs. The ongoing stalemate in the Middle East between the US and Iran is keeping the Strait of Hormuz closed, weighing on market sentiment, and pushing crude oil prices and bond yields higher. The 10-year T-note yield is up +4 bp to 4.45%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stock indexes added to their losses today on signs of accelerating inflation after the US Apr CPI rose 3.8% y/y, stronger than the 3.7% y/y expected and the largest increase in almost 3 years. Also, Apr core CPI rose +2.8% y/y, stronger than expectations of +2.7% y/y and the largest increase in six months.
Hawkish comments today from Chicago Fed President Austan Goolsbee were bearish for stocks and bonds, as he said the worst part of today's April CPI report is services inflation and that "the Fed has got to be thinking about how do we break the chain of escalating inflation."
In the latest developments in the Middle East, President Trump called Iran's response to his peace proposal a "piece of garbage" and said that the current ceasefire was on "life support."
WTI crude oil prices (CLM26) are up more than 3% today, as President Trump cast doubt over the ceasefire with Iran, saying the truce was on “massive life support,” prolonging the closure of the Strait of Hormuz. The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 4% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of today, 83% of the 450 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 is down -1.19%. China's Shanghai Composite fell from a 10-year high and closed down -0.25%. Japan's Nikkei Stock Average closed up +0.52%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -10 ticks. The 10-year T-note yield is up +3.9 bp to 4.453%. Jun T-notes fell to a 1-week low today, and the 10-year T-note yield rose to a 1-week high of 4.456%. T-notes are under pressure today amid a +3% surge in WTI crude oil prices, which is boosting inflation expectations. Also, today’s stronger-than-expected US April CPI reports signal accelerating inflation, a bearish factor for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $42 billion of 10-year T-notes later today as part of this week’s $125 billion quarterly refunding. T-notes added to their losses today when Chicago Fed President Austan Goolsbee said the US has an inflation problem.
European government bond yields are moving higher today. The 10-year German Bund yield rose to a 1.5-week high of 3.105% and is up +5.7 bp to 3.097%. The 10-year UK gilt yield surged to a 17-year high of 5.135% and is up +10.0 bp to 5.098%.
The German May ZEW survey expectation of economic growth unexpectedly rose +7.0 to -10.2, stronger than expectations of a decline to -19.5.
ECB Governing Council member Christodoulos Patsalides said, "As things stand, inflation risks are worsening," which points to an ECB interest rate hike in June.
Swaps are discounting an 85% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers are on the defensive today, giving back some of Monday’s sharp gains as the AI infrastructure rally cools. Qualcomm (QCOM) is down more than -9% to lead losers in the S&P 500 and Nasdaq 100, and Sandisk (SNDK) and Intel (INTC) are down more than -7%. Also, Micron Technology (MU) is down more than -5%, and Western Digital (WDC), Applied Materials (AMAT), Seagate Technology Holdings Plc (STX), Marvell Technology (MRVL), and Lam Research (LRCX) are down more than -4%. In addition, Advanced Micro Devices (AMD), ASML Holding NV (ASML), KLA Corp (KLAC), and NXP Semiconductors NV (NXPI) are down more than -3%.
Airline stocks and cruise line operators are sliding today amid a +3% increase in WTI crude oil prices, which are boosting fuel costs and undermining the companies' profitability prospects. American Airlines Group (AAL), Alaska Air Group (ALK), Southwest Airlines (LUV), and Carnival (CCL) are down more than -2%. Also, Royal Caribbean Cruises Ltd (RCL), Norwegian Cruise Line Holdings (NCLH), United Airlines Holdings (UAL), and Delta Air Lines (DAL) are down more than -1%.
Power Solutions International (PSIX) is down more than -34% after reporting Q1 revenue of $128.6 million, well below the consensus of $161 million.
AST SpaceMobile (ASTS) is down more than -12% after reporting a Q1 net loss of -$191.0 million, a wider loss than expectations of -$76.3 million.
Hims & Hers Health (HIMS) is down more than -11% after reporting Q1 revenue of $608.1 million, weaker than the consensus of $617.5 million, and forecasting full-year adjusted Ebitda of $275 million to $350 million, the midpoint below the consensus of $319.3 million.
Webtoon Entertainment (WBTN) is down more than -8% after forecasting Q2 revenue of $332 million to $342 million, well below the consensus of $359.9 million.
ON Holding (ONON) is down more than -6% after forecasting full-year net sales at constant currencies of at least +23%, weaker than the consensus of +24.6%.
Gitlab (GTLB) is down by more than -5% after announcing plans to cut jobs and make operational changes, moves Raymond James said will be challenging.
West Pharmaceutical Services (WST) is down more than -3% after saying it has experienced a material cybersecurity attack that has disrupted operations globally.
PACS Group (PACS) is up more than +20% after reporting Q1 revenue of $1.42 billion, stronger than the consensus of $1.36 billion, and raising its full-year Ebitda forecast to $605 million-$625 million from a previous forecast of $555 million-$575 million, well above the consensus of $567 million.
Zebra Technologies (ZBRA) is up more than +17% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $4.75, stronger than the consensus of $4.25, and raising its full-year adjusted EPS forecast to $18.30 to $18.70 from a previous forecast of $17.70 to $18.30.
Wendy’s (WEN) is up more than +14% after the Financial Times reported that Trian Fund Management is seeking investor backing for a bid to take the company private.
Venture Global (VG) is up more than +11% after reporting Q1 adjusted net income of $488.0 million, well above the consensus of $337.2 million.
Qnity Electronics (Q) is up more than +4% after reporting Q1 net sales of $1.42 billion, above the consensus of $1.27 billion.
Steris Plc (STE) is up more than +2% after forecasting 202y adjusted EPS from continuing operations of $11.10 to $11.30, above the consensus of $11.08.
Earnings Reports(5/12/2026)
Aramark (ARMK), Karman Holdings Inc (KRMN), Millicom International Cellular SA (TIGO), On Holding AG (ONON), Qnity Electronics Inc (Q), Ralliant Corp (RAL), Under Armour Inc (UAA), Zebra Technologies Corp (ZBRA).
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 Retreat as Oil Prices Surge and Inflation Accelerates

The S&P 500 Index ($SPX) (SPY) today is down -0.44%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.74%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.72%. June E-mini S&P futures (ESM26) are down -0.38%, and June E-mini Nasdaq futures (NQM26) are down -0.62%.
Stock indexes are under pressure today as weakness in technology stocks weighs on the overall market, following Monday’s rally that pushed the S&P 500 and Nasdaq 100 to new record highs. The ongoing stalemate in the Middle East between the US and Iran is keeping the Strait of Hormuz closed, weighing on market sentiment, and pushing crude oil prices and bond yields higher. The 10-year T-note yield is up +4 bp to 4.45%.
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Stock indexes added to their losses today on signs of accelerating inflation after the US Apr CPI rose 3.8% y/y, stronger than the 3.7% y/y expected and the largest increase in almost 3 years. Also, Apr core CPI rose +2.8% y/y, stronger than expectations of +2.7% y/y and the largest increase in six months.
In the latest developments in the Middle East, President Trump called Iran's response to his peace proposal a "piece of garbage" and said that the current ceasefire was on "life support."
WTI crude oil prices (CLM26) are up more than 3% today, as President Trump cast doubt over the ceasefire with Iran, saying the truce was on “massive life support,” prolonging the closure of the Strait of Hormuz. The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 4% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of today, 83% of the 450 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 is down -0.97%. China's Shanghai Composite fell from a 10-year high and closed down -0.25%. Japan's Nikkei Stock Average closed up +0.52%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -8 ticks. The 10-year T-note yield is up +3.5 bp to 4.449%. T-notes are under pressure today amid a +3% surge in WTI crude oil prices, which is boosting inflation expectations. Also, today’s stronger-than-expected US April CPI reports signal accelerating inflation, a bearish factor for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $42 billion of 10-year T-notes later today as part of this week’s $125 billion quarterly refunding.
European government bond yields are moving higher today. The 10-year German Bund yield rose to a 1.5-week high of 3.098% and is up +4.6 bp to 3.086%. The 10-year UK gilt yield surged to a 17-year high of 5.135% and is up +10.9 bp to 5.107%.
The German May ZEW survey expectation of economic growth unexpectedly rose +7.0 to -10.2, stronger than expectations of a decline to -19.5.
ECB Governing Council member Christodoulos Patsalides said, "As things stand, inflation risks are worsening," which points to an ECB interest rate hike in June.
Swaps are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers are on the defensive today, giving back some of Monday’s sharp gains as the AI infrastructure rally cools. Qualcomm (QCOM) is down more than -6% to lead losers in the Nasdaq 100, and Sandisk (SNDK) and Micron Technology (MU) are down more than -3%. Also, Western Digital (WDC), Marvell Technology (MRVL), Lam Research (LRCX), KLA Corp (KLAC), and NXP Semiconductors NV (NXPI) are down more than -2%.
Airline stocks and cruise line operators are sliding today amid a +3% increase in WTI crude oil prices, which are boosting fuel costs and undermining the companies' profitability prospects. Alaska Air Group (ALK) is down more than -2%. Also, American Airlines Group (AAL), Royal Caribbean Cruises Ltd (RCL), Carnival (CCL), Norwegian Cruise Line Holdings (NCLH), United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) are down more than -1%.
Power Solutions International (PSIX) is down more than -36% after reporting Q1 revenue of $128.6 million, well below the consensus of $161 million.
Hims & Hers Health (HIMS) is down more than -12% after reporting Q1 revenue of $608.1 million, weaker than the consensus of $617.5 million, and forecasting full-year adjusted Ebitda of $275 million to $350 million, the midpoint below the consensus of $319.3 million.
AST SpaceMobile (ASTS) is down more than -9% after reporting a Q1 net loss of -$191.0 million, a wider loss than expectations of -$76.3 million.
Webtoon Entertainment (WBTN) is down more than -8% after forecasting Q2 revenue of $332 million to $342 million, well below the consensus of $359.9 million.
Gitlab (GTLB) is down by more than -8% after announcing plans to cut jobs and make operational changes, moves Raymond James said will be challenging.
West Pharmaceutical Services (WST) is down more than -6% to lead losers in the S&P and said it has experienced a material cybersecurity attack that has disrupted operations globally.
ON Holding (ONON) is down more than -4% after forecasting full-year net sales at constant currencies of at least +23%, weaker than the consensus of +24.6%.
PACS Group (PACS) is up more than +27% after reporting Q1 revenue of $1.42 billion, stronger than the consensus of $1.36 billion, and raising its full-year Ebitda forecast to $605 million-$625 million from a previous forecast of $555 million-$575 million, well above the consensus of $567 million.
Zebra Technologies (ZBRA) is up more than +15% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $4.75, stronger than the consensus of $4.25, and raising its full-year adjusted EPS forecast to $18.30 to $18.70 from a previous forecast of $17.70 to $18.30.
Wendy’s (WEN) is up more than +11% after the Financial Times reported that Trian Fund Management is seeking investor backing for a bid to take the company private.
Venture Global (VG) is up more than +7% after reporting Q1 adjusted net income of $488.0 million, well above the consensus of $337.2 million.
Steris Plc (STE) is up more than +2% after forecasting 202y adjusted EPS from continuing operations of $11.10 to $11.30, above the consensus of $11.08.
Qnity Electronics (Q) is up more than +1% after reporting Q1 net sales of $1.42 billion, above the consensus of $1.27 billion.
Earnings Reports(5/12/2026)
Aramark (ARMK), Karman Holdings Inc (KRMN), Millicom International Cellular SA (TIGO), On Holding AG (ONON), Qnity Electronics Inc (Q), Ralliant Corp (RAL), Under Armour Inc (UAA), Zebra Technologies Corp (ZBRA).
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 by Rising Oil Prices and Accelerating Inflation

The NASDAQ 100 Pre-Market Indicator is down -234.48 to 29,086.18. The total Pre-Market volume is currently 151,891,039 shares traded.
The following are the most active stocks for the pre-market session:
Coincheck Group N.V. (CNCK) is +0.82 at $2.57, with 24,757,023 shares traded. CNCK's current last sale is 95.19% of the target price of $2.7.
Defiance Daily Target 2x Short IONQ ETF (IONZ) is +0.0393 at $3.55, with 10,253,833 shares traded., following a 52-week high recorded in prior regular session.
Direxion Daily TSLA Bull 2X ETF (TSLL) is -0.5049 at $16.33, with 6,704,137 shares traded. This represents a 84.31% increase from its 52 Week Low.
D-Wave Quantum Inc. (QBTS) is -1.56 at $22.47, with 6,136,065 shares traded. As reported by Zacks, the current mean recommendation for QBTS is in the "buy range".
Wendy's Company (The) (WEN) is +1.18 at $7.94, with 5,572,674 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2026. The consensus EPS forecast is $0.15. WEN's current last sale is 99.25% of the target price of $8.
T1 Energy Inc. (TE) is +0.2697 at $6.31, with 5,360,122 shares traded. TE's current last sale is 74.23% of the target price of $8.5.
IREN Limited (IREN) is -0.41 at $54.74, with 5,106,434 shares traded. As reported by Zacks, the current mean recommendation for IREN is in the "buy range".
Intel Corporation (INTC) is -6.24 at $123.20, with 4,991,681 shares traded. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2026. The consensus EPS forecast is $0.1. INTC's current last sale is 154% of the target price of $80.
Nokia Corporation (NOK) is -0.4197 at $13.50, with 4,273,502 shares traded. As reported by Zacks, the current mean recommendation for NOK is in the "buy range".
IonQ, Inc. (IONQ) is +0.06 at $56.95, with 4,156,946 shares traded. As reported by Zacks, the current mean recommendation for IONQ is in the "buy range".
Hims & Hers Health, Inc. (HIMS) is -4.4 at $24.74, with 2,097,764 shares traded. HIMS's current last sale is 97.98% of the target price of $25.25.
Venture Global, Inc. (VG) is +1.23 at $12.85, with 1,547,048 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2026. The consensus EPS forecast is $0.42. VG's current last sale is 80.31% of the target price of $16.
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 Most Active for May 12, 2026 : CNCK, IONZ, TSLL, QBTS, WEN, TE, IREN, INTC, NOK, IONQ, HIMS, VG

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.19%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.29%. June E-mini S&P futures (ESM26) rose +0.18%, and June E-mini Nasdaq futures (NQM26) rose +0.28%.
Stock indexes settled higher on Monday, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Strength in chipmakers and AI-infrastructure stocks led the broader market higher on Monday. Gains in stocks were limited on Monday amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield rose +5 bp to 4.41%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones.
Monday’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million.
Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y.
WTI crude oil prices (CLM26) rose more than 2% on Monday, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump on Sunday said that Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 4% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of Monday, 83% of the 450 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 -0.27%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%.
Interest Rates
June 10-year T-notes (ZNM6) on Monday closed down -11 ticks. The 10-year T-note yield rose +5.4 bp to 4.408%. T-notes were under pressure on Monday from a +2% jump in WTI crude oil prices, which boosted inflation expectations. T-notes fell to their lows on Monday afternoon on weak demand for the Treasury’s $58 billion auction of 3-year T-notes that had a bid-to-cover ratio of 2.54, well below the 10-auction average of 2.64.
European government bond yields moved higher on Monday. The 10-year German Bund yield rose +3.5 bp to 3.040%. The 10-year UK gilt yield rose +8.6 bp to 4.998%.
ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future."
Swaps are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks rose on Monday amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) closed up more than +8% to lead gainers in the Nasdaq 100, and Western Digital (WDC) closed up by more than +7%. Also, Micron Technology (MU) and Seagate Technology Holdings Plc (STX) closed up more than +6%, and NXP Semiconductors NV (NXPI), Intel (INTC), and Texas Instruments (TXN) closed up more than +3%. In addition, Nvidia (NVDA), Applied Materials (AMAT), and Analog Devices (ADI) closed up more than +1%.
Mining stocks moved higher on Monday amid rallies in silver and copper prices. Hecla Mining (HL) closed up more than +11%, and Barrick Mining (B) closed up +9%. Also, Coeur Mining (CDE) closed up more than +6%, and Freeport McMoRan (FCX) closed up more than +4%. In addition, Newmont Corp (NEM) closed up more than +3%, and Anglogold Ashanti (AU) closed up more than +1%.
Consumer-exposed stocks retreated on Monday after Wells Fargo warned about weakening consumer demand. Kohl’s (KSS) closed down more than -10% and Dollar General (GD) closed down more than -8% to lead losers in the S&P 500. Also, Ollie’s Bargain Outlet Holdings (OLLI) closed down more than -8% and Kontoor Brands (KTB) closed down more than -7%. In addition, Target (TGT) and Celsius Holdings (CELH) closed down more than -6%.
Airline stocks and cruise line operators were under pressure on Monday amid a +2% increase in WTI crude oil prices, which boosts fuel costs and undermines the companies' profitability prospects. American Airlines Group (AAL), Alaska Air Group (ALK), and Royal Caribbean Cruises Ltd (RCL) closed down more than -4%. Also, Carnival (CCL) closed down more than -3%, and Norwegian Cruise Line Holdings (NCLH), United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) closed down more than -2%.
Beazer Homes USA Inc (BZH) closed up more than +34% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company.
Babcock & Wilcox (BW) closed up more than +30% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled.
Lumentum Holdings (LITE) closed up more than +16% to lead gainers in the S&P 500 after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18.
Coherent Corp (COHR) closed up more than +13% on news that CEO Anderson will travel with President Trump to China this week.
Monday.com (MNDY) closed up more than +5% after reporting Q1 adjusted EPS of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion.
Iren Ltd (IREN) closed down more than -10% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering.
Trade Desk (TTD) closed down more than -7% after HSBC downgraded the stock to reduce from hold with a price target of $20.
Wendy’s (WEN) closed down more than -7% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6.
Dell Technologies (DELL) closed down more than -5% after UBS downgraded the stock to neutral from buy.
Tyler Technologies (TYL) closed down more than -3% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering.
Mosaic (MOS) closed down nearly -2% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons.
Earnings Reports(5/12/2026)
Aramark (ARMK), Karman Holdings Inc (KRMN), Millicom International Cellular SA (TIGO), On Holding AG (ONON), Qnity Electronics Inc (Q), Ralliant Corp (RAL), Under Armour Inc (UAA), Zebra Technologies Corp (ZBRA).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
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 Higher on Strong Earnings

The S&P 500 Index ($SPX) (SPY) today is up +0.25%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.17%. June E-mini S&P futures (ESM26) are up +0.29%, and June E-mini Nasdaq futures (NQM26) are up +0.19%.
Stock indexes are moving higher today, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Gains in stocks are limited today amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield is up +3 bp to 4.39%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones.
Today’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million.
Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y.
WTI crude oil prices (CLM26) are up by more than 2% today, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump on Sunday said that Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 5% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of today, 83% of the 446 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 is down -0.55%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -7 ticks. The 10-year T-note yield is up +3.8 bp to 4.392%. T-notes are under pressure today from a +2% jump in WTI crude oil prices, which is boosting inflation expectations. Also, supply pressures are weighing on T-notes as the Treasury will auction $125 billion of T-notes and T-bonds in this week’s quarterly refunding, beginning with today’s $58 billion auction of 3-year T-notes.
European government bond yields are moving higher today. The 10-year German Bund yield is up +3.7 bp to 3.042%. The 10-year UK gilt yield is up +9.1 bp to 5.003%.
ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future."
Swaps are discounting an 85% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks are climbing today amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) is up more than +8% to lead gainers in the Nasdaq 100, and Western Digital (WDC) is up by more than +6%. Also, Micron Technology (MU) and Seagate Technology Holdings Plc (STX) are up more than +5%, and Nvidia (NVDA) is up more than +3% to lead gainers in the Dow Jones Industrials. In addition, Applied Materials (AMAT) is up more than +2%, and Intel (INTC), KLA Corp (KLAC), Texas Instruments (TXN), and Lam Research (LRCX) are up more than +1%.
Mining stocks are moving higher today with rallies in gold, silver, and copper prices. Barrick Mining (B) and Hecla Mining (HL) are up more than +7%, and Coeur Mining (CDE) is up more than +4%. Also, Freeport McMoRan (FCX) and Newmont Corp (NEM) are up more than +3%, and Anglogold Ashanti (AU) is up more than +2%.
Airline stocks and cruise line operators are under pressure today amid a +2% increase in WTI crude oil prices, which boost fuel costs and undermine the companies' profitability prospects. Alaska Air Group (ALK), Carnival (CCL), and Royal Caribbean Cruises Ltd (RCL) are down more than -4%, and American Airlines Group (AAL) and Norwegian Cruise Line Holdings (NCLH) are down more than -3%. Also, United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) are down more than -2%.
Beazer Homes USA Inc (BZH) is up more than +30% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company.
Babcock & Wilcox (BW) is up more than +22% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled.
Lumentum Holdings (LITE) is up more than +17% to lead gainers in the S&P 500 after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18.
Coherent Corp (COHR) is up more than +13% on news that CEO Anderson will travel with President Trump to China this week.
Monday.com (MNDY) is up more than +6% after reporting Q1 adjusted EPS of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion.
Moderna (MRNA) is up more than +5% after announcing it’s researching vaccines to protect against hantaviruses.
Trade Desk (TTD) is down more than -7% to lead losers in the S&P 500 after HSBC downgraded the stock to reduce from hold with a price target of $20.
Iren Ltd (IREN) is down more than -6% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering.
Wendy’s (WEN) is down more than -6% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6.
Dell Technologies (DELL) is down more than -5% after UBS downgraded the stock to neutral from buy.
Tyler Technologies (TYL) is down more than -4% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering.
Mosaic (MOS) is down more than -3% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons.
Earnings Reports(5/11/2026)
AECOM (ACM), Amentum Holdings Inc (AMTM), AST SpaceMobile Inc (ASTS), Certara Inc (CERT), Circle Internet Group Inc (CRCL), Constellation Energy Corp (CEG), Figure Technology Solutions Inc (FIGR), Fox Corp (FOXA), Halozyme Therapeutics Inc (HALO), Mosaic Co/The (MOS), Ovintiv Inc (OVV), Simon Property Group Inc (SPG), STERIS PLC (STE), ZoomInfo Technologies Inc (GTM).
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 Supported by Strong Earnings and AI Optimism

The S&P 500 Index ($SPX) (SPY) today is up +0.17%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.06%. June E-mini S&P futures (ESM26) are up +0.19%, and June E-mini Nasdaq futures (NQM26) are up +0.05%.
Stock indexes are moving higher today, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Gains in stocks are limited today amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield is up +3 bp to 4.39%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones.
Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y.
WTI crude oil prices (CLM26) are up by more than 2% today, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump said Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 5% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of today, 83% of the 446 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 is down -0.28%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%.
Interest Rates
June 10-year T-notes (ZNM6) today are down -5 ticks. The 10-year T-note yield is up +2.7 bp to 4.381%. T-notes are under pressure today from a +2% jump in WTI crude oil prices, which is boosting inflation expectations. Also, supply pressures are weighing on T-notes as the Treasury will auction $125 billion of T-notes and T-bonds in this week’s quarterly refunding, beginning with today’s $58 billion auction of 3-year T-notes.
European government bond yields are moving higher today. The 10-year German Bund yield is up +2.5 bp to 3.030%. The 10-year UK gilt yield is up +7.4 bp to 4.986%.
ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future."
Swaps are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks are climbing today amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) is up more than +6% to lead gainers in the Nasdaq 100, and Micron Technology (MU) is up more than +5%. Also, Western Digital (WDC) is up by more than +4%, and Intel (INTC) and Seagate Technology Holdings Plc (STX) are up more than +3%. In addition, Texas Instruments (TXN) is up by more than +2%, and Nvidia (NVDA), Applied Materials (AMAT), and Lam Research (LRCX) are up more than +1%.
Mining stocks are moving higher today with rallies in gold, silver, and copper prices. Barrick Mining (B) is up more than +8%, and Coeur Mining (CDE) and Hecla Mining (HL) are up more than +7%. Also, Freeport McMoRan (FCX) is up more than +4%, and Anglogold Ashanti (AU), Southern Copper (SCCO), and Newmont Corp (NEM) are up more than +3%.
Airline stocks and cruise line operators are under pressure today from a +2% increase in WTI crude oil prices, which boosts fuel costs and undercuts the companies' profitability prospects. Carnival (CCL) and Royal Caribbean Cruises Ltd (RCL) are down more than -4%, and Alaska Air Group (ALK) is down more than -3%. Also, American Airlines Group (AAL) and Norwegian Cruise Line Holdings (NCLH) are down more than -2%. In addition, United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) are down more than -1%.
Beazer Homes USA Inc (BZH) is up more than +29% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company.
Babcock & Wilcox (BW) is up more than +18% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled.
Monday.com (MNDY) is up more than +11% after reporting Q1 adjusted EP of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion.
Moderna (MRNA) is up more than +7% after announcing it’s researching vaccines to protect against hantaviruses.
Lumentum Holdings (LITE) is up more than +6% after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18.
Trade Desk (TTD) is down more than -9% to lead losers in the S&P 500 after HSBC downgraded the stock to reduce from hold with a price target of $20.
Iren Ltd (IREN) is down more than -7% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering.
Dell Technologies (DELL) is down more than -5% after UBS downgraded the stock to neutral from buy.
Wendy’s (WEN) is down more than -3% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6.
Tyler Technologies (TYL) is down more than -3% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering.
Mosaic (MOS) is down more than -2% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons.
Earnings Reports(5/11/2026)
AECOM (ACM), Amentum Holdings Inc (AMTM), AST SpaceMobile Inc (ASTS), Certara Inc (CERT), Circle Internet Group Inc (CRCL), Constellation Energy Corp (CEG), Figure Technology Solutions Inc (FIGR), Fox Corp (FOXA), Halozyme Therapeutics Inc (HALO), Mosaic Co/The (MOS), Ovintiv Inc (OVV), Simon Property Group Inc (SPG), STERIS PLC (STE), ZoomInfo Technologies Inc (GTM).
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.