- John Hussman Exits Qualcomm Inc, Impacting Portfolio by -1.13%
May 11, 2026
This article first appeared on GuruFocus.
Insights into John Hussman (Trades, Portfolio)'s Strategic Moves in Q1 2026
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John Hussman (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2026, providing insights into his investment moves during this period. Dr. John Hussman (Trades, Portfolio) is the president and principal shareholder of Hussman Strategic Advisors, the investment advisory firm that manages the Hussman Funds. He is also the president of the Hussman Investment Trust. Dr. Hussman manages the Hussman Strategic Growth Fund, which invests primarily in U.S. stocks, and the Hussman Strategic Total Return Fund, which invests primarily in U.S. Treasury and government agency securities. Prior to managing the Hussman Funds, Dr. Hussman was a professor of economics and international finance at the University of Michigan. His academic research centers on market efficiency and information economics. Dr. Hussman holds a Ph.D. in economics from Stanford University (1992) and two degrees from Northwestern University: a Master's degree in education and social policy (1985) and a Bachelor's degree in economics (1983). Dr. Hussman looks at two dimensions of information to adjust his willingness to take risk. The first is valuation. Favorable valuation means that stock prices appear reasonable in view of the stream of earnings, dividends, revenues and cash flows expected in the future. The second dimension is the quality of market action. Market action considers the behavior of a wide range of securities and industry groups in an attempt to assess the economic outlook of investors and their willingness to accept market risk. These two dimensions of information make up four basic "Market Climates" associated with various combinations of valuation and market action. In the most favorable Market Climates, Dr. Hussman will typically hold an aggressive allocation to market risk, while in the least favorable Market Climates, he will typically attempt to remove the impact of market fluctuations from the portfolio through hedging (Strategic Growth Fund) or reduction in the average maturity of bond holdings (Strategic Total Return Fund). The most defensive position is a fully hedged position in which the entire value of long positions is hedged.
Summary of New Buy
John Hussman (Trades, Portfolio) added a total of 97 stocks, among them:
The most significant addition was Ulta Beauty Inc (NASDAQ:ULTA), with 7,350 shares, accounting for 0.83% of the portfolio and a total value of $3.84 million. The second largest addition to the portfolio was American Eagle Outfitters Inc (NYSE:AEO), consisting of 210,000 shares, representing approximately 0.76% of the portfolio, with a total value of $3.51 million. The third largest addition was Collegium Pharmaceutical Inc (NASDAQ:COLL), with 105,000 shares, accounting for 0.75% of the portfolio and a total value of $3.47 million.
Story Continues
Key Position Increases
John Hussman (Trades, Portfolio) also increased stakes in a total of 39 stocks, among them:
The most notable increase was Corcept Therapeutics Inc (NASDAQ:CORT), with an additional 94,500 shares, bringing the total to 126,000 shares. This adjustment represents a significant 300% increase in share count, a 0.83% impact on the current portfolio, with a total value of $5.08 million. The second largest increase was Dollar General Corp (NYSE:DG), with an additional 21,000 shares, bringing the total to 31,500. This adjustment represents a significant 200% increase in share count, with a total value of $3.74 million.
Summary of Sold Out
John Hussman (Trades, Portfolio) completely exited 81 holdings in the first quarter of 2026, as detailed below:
Qualcomm Inc (NASDAQ:QCOM): John Hussman (Trades, Portfolio) sold all 27,300 shares, resulting in a -1.13% impact on the portfolio. Charter Communications Inc (NASDAQ:CHTR): John Hussman (Trades, Portfolio) liquidated all 18,900 shares, causing a -0.95% impact on the portfolio.
Key Position Reduces
John Hussman (Trades, Portfolio) also reduced positions in 45 stocks. The most significant changes include:
Reduced Ubiquiti Inc (NYSE:UI) by 4,200 shares, resulting in a -50% decrease in shares and a -0.56% impact on the portfolio. The stock traded at an average price of $678.96 during the quarter and has returned 7.49% over the past 3 months and 38.52% year-to-date. Reduced DexCom Inc (NASDAQ:DXCM) by 31,500 shares, resulting in a -75% reduction in shares and a -0.5% impact on the portfolio. The stock traded at an average price of $69.64 during the quarter and has returned -13.94% over the past 3 months and -11.63% year-to-date.
Portfolio Overview
At the first quarter of 2026, John Hussman (Trades, Portfolio)'s portfolio included 268 stocks, with top holdings including 1.1% in Corcept Therapeutics Inc (NASDAQ:CORT), 1.02% in United Natural Foods Inc (NYSE:UNFI), 1.01% in The Campbell's Co (NASDAQ:CPB), 0.96% in APA Corp (NASDAQ:APA), and 0.91% in Etsy Inc (NYSE:ETSY).
The holdings are mainly concentrated in all 11 industries: Healthcare, Technology, Consumer Cyclical, Consumer Defensive, Financial Services, Industrials, Energy, Utilities, Communication Services, Basic Materials, and Real Estate.
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- Reunion Neuroscience to Present Full Data from RECONNECT Phase 2 Clinical Trial at Upcoming ASCP and APA Annual Meetings
May 11, 2026 · globenewswire.com
MORRISTOWN, N.J., May 11, 2026 (GLOBE NEWSWIRE) -- Reunion Neuroscience, Inc., a clinical-stage biopharmaceutical company committed to revolutionizing the treatment of underserved mental health disorders through the advancement of next-generation psychedelic-inspired therapeutic solutions, today announced that it will share the full results of the RECONNECT, a Phase 2 trial evaluating luvesilocin in adult female patients with moderate-to-severe postpartum depression (PPD), in an oral presentation at the American Society of Clinical Psychopharmacology (ASCP) Annual Meeting 2026 – Psychiatry and AI: Promises, Perils, and Pathways Forward in Miami, FL.
- REUNION NEUROSCIENCE TO PRESENT FULL DATA FROM RECONNECT PHASE 2 CLINICAL TRIAL AT UPCOMING ASCP AND APA ANNUAL MEETINGS
May 11, 2026
MORRISTOWN, N.J., MAY 11, 2026 (GLOBE NEWSWIRE) -- REUNION NEUROSCIENCE, INC., A CLINICAL-STAGE BIOPHARMACEUTICAL COMPANY COMMITTED TO REVOLUTIONIZING THE TREATMENT OF UNDERSERVED MENTAL HEALTH DISORDERS THROUGH THE ADVANCEMENT OF NEXT-GENERATION PSYCHEDELIC-INSPIRED THERAPEUTIC SOLUTIONS, TODAY ANNOUNCED THAT IT WILL SHARE THE FULL RESULTS OF THE RECONNECT, A PHASE 2 TRIAL EVALUATING LUVESILOCIN IN ADULT FEMALE PATIENTS WITH MODERATE-TO-SEVERE POSTPARTUM DEPRESSION (PPD), IN AN ORAL PRESENTATION AT THE AMERICAN SOCIETY OF CLINICAL PSYCHOPHARMACOLOGY (ASCP) ANNUAL MEETING 2026 – PSYCHIATRY AND AI: PROMISES, PERILS, AND PATHWAYS FORWARD IN MIAMI, FL.
- S&P 500 Posts Sixth Consecutive Weekly Gain, Hits Highs in Tech-Led Rise
May 8, 2026
The Standard & Poor's 500 index rose 2.3% this week to another round of new highs as the technology
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- APA Corporation: Cheap Oil Stock With Suriname Optionality
May 8, 2026 · seekingalpha.com
APA Corporation is rated Buy with a 12-month price target of $46.72, reflecting ~30% upside from current levels. APA trades at a significant valuation discount to peers, with a forward P/E of 6.7x and 3.6x EV/EBITDA, despite robust cost-saving initiatives. Cost reductions, a 10% capex cut for 2026, and stable Egyptian operations are expected to enhance FCF and support sustainability at current oil prices.
- Why APA (APA) is a Top Growth Stock for the Long-Term
May 8, 2026 · zacks.com
Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
- Ariel Focus Fund Q1 2026 Performers And Detractors
May 7, 2026 · seekingalpha.com
APA Corporation was the top contributor during the quarter. SLB Limited advanced during the quarter as investors grew more confident. Fiserv declined over the quarter despite reporting inline earnings results.
- S&P 500 Reverses After Hitting Record High as Oil Prices Bounce Back
May 7, 2026
The S&P 500 Index ($SPX) (SPY) today is down -0.40%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.28%.
Equity markets retreated this afternoon, erasing earlier gains as a resurgence in crude oil prices weighed on sentiment. While the international Brent benchmark saw a slight dip yet remained above $100, U.S. West Texas Intermediate futures surged past the $95-per-barrel mark.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
US weekly initial unemployment claims rose +10,000 to 200,00, showing a stronger labor market than expectations of 205,000. Weekly continuing claims unexpectedly fell -10,000 to a 2.25-year low of 1.766 million, showing a stronger labor market than expectations of an increase to 1.800 million.
US Q1 nonfarm productivity rose +0.8%, stronger than expectations of +0.6%. Q1 unit labor costs rose +2.3%, weaker than expectations of +2.5%
Fed comments today were slightly hawkish and negative for stocks and bonds. Boston Fed President Susan Collins said interest rates should stay at current "mildly restrictive" levels, but “if the inflation trajectory looked like it was significantly moving in the wrong direction," policymakers would "need to reassess what the appropriate policy would be." Also, Cleveland Fed President Beth Hammack said the FOMC's signal that the next rate move will be a cut is misleading, and her baseline is that interest rates will be on hold for a long period.
The markets are awaiting further updates after the US presented a proposal to Iran that would gradually reopen the Strait of Hormuz and lift the US blockade on Iranian ports. Negotiations over Iran's nuclear program would come later in the process. Iran is expected to respond via Pakistan in the next few days.
The markets are discounting a 6% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings results thus far in this reporting season have been supportive of stocks. As of today, 84% of the 411 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 from a 2.5-week high and is down -0.57%. China's Shanghai Composite rallied to a 2-month high and closed up +0.08%. Japan's Nikkei Stock Average soared to a record high, finishing sharply higher by +5.58%.
Interest Rates
June 10-year T-notes (ZNM6) today are up by +4 ticks. The 10-year T-note yield is down -1.1 bp to 4.338%. Jun T-notes climbed to a 1-week high today, and the 10-year T-note yield fell to a 1.5-week low of 4.319%. T-notes have support today from weaker crude prices, which ease inflation expectations. The 10-year breakeven inflation rate fell to a 2-week low of 2.415% today. Also, today’s reports showing Q1 nonfarm productivity was better than expected, and Q1 labor costs were weaker than expected, were supportive of T-notes.
Gains in T-notes are limited due to today’s weekly jobless claims report, which showed strength in the US labor market, a hawkish factor for Fed policy. Also, hawkish Fed comments today weighed on T-note prices after Boston Fed President Susan Collins and Cleveland Fed President Beth Hammack said they favored keeping interest rates on hold.
European government bond yields are moving lower today. The 10-year German Bund yield fell to a 2-week low of 2.957% and is down -1.5 bp to 2.985%. The 10-year UK gilt yield fell to a 2-week low of 4.886% and is down -2.8 bp to 4.912%.
Eurozone Mar retail sales fell -0.1% m/m, a smaller decline than expectations of -0.3% m/m.
German Mar factory orders rose +5.0% m/m, stronger than expectations of +1.0% m/m.
Swaps are discounting a 79% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Datadog (DDOG) is up more than +30% to lead software stocks higher and gainers in the S&P 500 and Nasdaq 100 after reporting Q1 revenue of $1.01 billion, better than the consensus of $957.8 million, and raising its full-year revenue estimate to $4.30 billion to $4.34 billion from a previous estimate of $4.06 billion to $4.10 billion, well above the consensus of $4.09 billion. Also, ServiceNow (NOW) and Workday (WDAY) are up more than +6%, and Atlassian (TEAM) and Intuit (INTU) are up more than +5%. In addition, Autodesk (ADSK) is up by more than +4%, and Salesforce (CRM) is up more than +3% to lead gainers in the Dow Jones industrials. Finally, Microsoft (MSFT), Oracle (ORCL), and Adobe (ADBE) are up more than +2%.
Fortinet (FTNT) is up more than +23% to lead cybersecurity stocks higher after reporting Q1 billings of $2.09 billion, well above the consensus of $1.82 billion, and raising its full-year billings forecast to $8.80 billion to $9.10 billion from a previous forecast of $8.40 billion to $8.60 billion, stronger than the consensus of $8.49 billion. Also, Zscaler (ZS) is up more than +9%, and Palo Alto Networks (PANW) and CrowdStrike Holdings (CRWD) are up more than +7%. In addition, and Okta (OKTA) is up more than +5%, and Cloudflare (NET) is up more than +3%.
Energy producers and service providers are moving lower today with WTI crude oil prices down more than -4%. APA Corp (APA) is down more than -6%, and Baker Hughes (BKR) is down more than -5%. Also, Devon Energy (DVN), Marathon Petroleum (MPC), and Diamondback Energy (FANG) are down more than -4%. In addition, SLB Ltd (SLB), Phillips 66 (PSX), ConocoPhillips (COP), Occidental Petroleum (OXY), Halliburton (HAL), and Valero Energy (VLO) are down more than -3%. Finally, Chevron (CVX) is down more than -2% to lead losers in the Dow Jones industrials, and Exxon Mobil (XOM) is also down more than -2%.
Axon Enterprises (AXON) is up more than +13% after reporting Q1 net sales of $807 million, above the consensus of $779.2 million.
Albemarle (ALB) is up more than +9% after reporting Q1 net sales of $1.43 billion, above the consensus of $1.34 billion.
Ormat Technologies (ORA) is up more than +9% after reporting Q1 adjusted EPS of $1.30, stronger than the consensus of 92 cents.
Howmet Aerospace (HWM) is up more than +8% after reporting Q1 adjusted EPS of $1.22, above the consensus of $1.11, and raising its full-year adjusted EPS forecast to $4.88-$5.00 from a previous forecast of $4.35-$4.55, stronger than the consensus of $4.63.
AppLovin (APP) is up more than +6% after reporting Q1 revenue of $1.84 billion, better than the consensus of $1.77 billion, and forecasting Q2 revenue of $1.92 billion to $1.95 billion, stronger than the consensus of $1.89 billion.
MKS Inc. (MKSI) is up more than +3% after reporting Q1 net revenue of $1.08 billion, better than the consensus of $1.04 billion.
Zoetis (ZTS) is down more than -21% to lead losers in the S&P 500 after reporting Q1 revenue of $2.26 billion, weaker than the consensus of $2.30 billion.
Insmed (INSM) is down more than -17% to lead losers in the Nasdaq 100 after forecasting full-year product revenue of $1.0 billion, below the consensus of $1.3 billion.
Whirlpool (WHR) is down more than -13% after reporting Q1 net sales of $3.27 billion, weaker than the consensus of $3.42 billion, and cutting its full-year revenue forecast to $15.0 billion from a previous forecast of $15.3-$15.6 billion, below the consensus of $15.21 billion.
ARM Holdings Plc (ARM) is down more than -7% after reporting Q4 royalty revenue of $671 million, below the consensus of $693.3 million.
Coherent Corp (COHR) is down more than -5% after reporting a Q3 adjusted EPS of $1.41, right on expectations.
US Foods Holding (USFD) is down more than -4% after reporting Q1 net sales of $9.61 billion, below the consensus of $9.66 billion.
Earnings Reports(5/7/2026)
Airbnb Inc (ABNB), Akamai Technologies Inc (AKAM), Becton Dickinson & Co (BDX), Block Inc (XYZ), Charles River Laboratories Int (CRL), Coinbase Global Inc (COIN), Consolidated Edison Inc (ED), Corpay Inc (CPAY), Datadog Inc (DDOG), EPAM Systems Inc (EPAM), Evergy Inc (EVRG), Expedia Group Inc (EXPE), Gen Digital Inc (GEN), Gilead Sciences Inc (GILD), Howmet Aerospace Inc (HWM), Kenvue Inc (KVUE), McDonald's Corp (MCD), McKesson Corp (MCK), Mettler-Toledo International Inc (MTD), Microchip Technology Inc (MCHP), Monster Beverage Corp (MNST), Motorola Solutions Inc (MSI), News Corp (NWSA), Republic Services Inc (RSG), Sempra (SRE), Tapestry Inc (TPR), Targa Resources Corp (TRGP), Trade Desk Inc/The (TTD), Viatris Inc (VTRS), Vistra Corp (VST), WW Grainger Inc (GWW), Wynn Resorts Ltd (WYNN), Zoetis Inc (ZTS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
- Stocks Mixed Awaiting an Iran Update
May 7, 2026
The S&P 500 Index ($SPX) (SPY) today is down -0.05%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.20%. June E-mini S&P futures (ESM26) are down -0.03%, and June E-mini Nasdaq futures (NQM26) are up +0.23%.
Stock indexes are mixed today, with the Nasdaq 100 posting a new all-time high. Crude oil prices are down more than -4% today, supporting stocks and bonds as the markets await updates on a potential US-Iran peace deal that would reopen the Strait of Hormuz. Better-than-expected corporate earnings results are also lifting stocks, powered by tech earnings and high expectations for artificial intelligence. Strength in software stocks is leading the Nasdaq 100 higher as Datadog surged more than +30% after reporting blowout earnings.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks also found support on today’s economic news that showed signs of a stable labor market, better-than-expected productivity, and weaker-than-expected labor costs.
US weekly initial unemployment claims rose +10,000 to 200,00, showing a stronger labor market than expectations of 205,000. Weekly continuing claims unexpectedly fell -10,000 to a 2.25-year low of 1.766 million, showing a stronger labor market than expectations of an increase to 1.800 million.
US Q1 nonfarm productivity rose +0.8%, stronger than expectations of +0.6%. Q1 unit labor costs rose +2.3%, weaker than expectations of +2.5%
The markets are awaiting further updates after the US presented a proposal to Iran that would gradually reopen the Strait of Hormuz and lift the US blockade on Iranian ports. Negotiations over Iran's nuclear program would come later in the process. Iran is expected to respond via Pakistan in the next few days.
WTI crude oil prices (CLM26) are down by more than -4% today, but remain above Wednesday’s 2-week low, after a post from Al Arabiya, a Saudi-affiliated outlet, that said agreements were reached on easing the US naval blockade of Iran in exchange for a gradual reopening 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 6% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings results thus far in this reporting season have been supportive of stocks. As of today, 84% of the 411 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 climbed to a 2.5-week high and is up +0.29%. China's Shanghai Composite rallied to a 2-month high and closed up +0.08%. Japan's Nikkei Stock Average soared to a record high, finishing sharply higher by +5.58%.
Interest Rates
June 10-year T-notes (ZNM6) today are up by +7 ticks. The 10-year T-note yield is down -2.9 bp to 4.321%. Jun T-notes climbed to a 1-week high today, and the 10-year T-note yield fell to a 1.5-week low of 4.319%. T-notes have support today from weaker crude prices, which eases inflation expectations. Also, today’s reports showing Q1 nonfarm productivity was better than expected, and Q1 labor costs were weaker than expected, were supportive for T-notes.
Gains in T-notes are limited due to today’s weekly jobless claims report, which showed strength in the US labor market, a hawkish factor for Fed policy. Also, hawkish comments today from Boston Fed President Susan Collins were negative for T-notes, as she said interest rates should stay at current "mildly restrictive" levels.
European government bond yields are moving lower today. The 10-year German Bund yield fell to a 2-week low of 2.960% and is down -3.8 bp to 2.961%. The 10-year UK gilt yield fell to a 2-week low of 4.889% and is down -4.8 bp to 4.891%.
Eurozone Mar retail sales fell -0.1% m/m, a smaller decline than expectations of -0.3% m/m.
German Mar factory orders rose +5.0% m/m, stronger than expectations of +1.0% m/m.
Swaps are discounting a 79% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Datadog (DDOG) is up more than +30% to lead software stocks higher and gainers in the S&P 500 and Nasdaq 100 after reporting Q1 revenue of $1.01 billion, better than the consensus of $957.8 million, and raising its full-year revenue estimate to $4.30 billion to $4.34 billion from a previous estimate of $4.06 billion to $4.10 billion, well above the consensus of $4.09 billion. Also, ServiceNow (NOW) is up more than +5%, and Workday (WDAY) and Atlassian (TEAM) are up more than +4%. In addition, Salesforce (CRM) is up more than +2% to lead gainers in the Dow Jones industrials, and Microsoft (MSFT), Autodesk (ADSK), Oracle (ORCL), and Intuit (INTU) are up more than +2%.
Fortinet (FTNT) is up more than +23% to lead cybersecurity stocks higher after reporting Q1 billings of $2.09 billion, well above the consensus of $1.82 billion, and raising its full-year billings forecast to $8.80 billion to $9.10 billion from a previous forecast of $8.40 billion to $8.60 billion, stronger than the consensus of $8.49 billion. Also, Zscaler (ZS) is up more than +9%, and Palo Alto Networks (PANW) is up more than +8%. In addition, CrowdStrike Holdings (CRWD) and Okta (OKTA) are up more than +6%, and Cloudflare (NET) is up more than +1%.
Energy producers and service providers are moving lower today with WTI crude oil prices down more than -4%. APA Corp (APA) is down more than -5%, and Baker Hughes (BKR) is down more than -4%. Also, Devon Energy (DVN), Diamondback Energy (FANG), and SLB Ltd (SLB) are down more than -3%, and ConocoPhillips (COP), Occidental Petroleum (OXY), Halliburton (HAL), Marathon Petroleum (MPC), and Valero Energy (VLO) are down more than -2%.
Albemarle (ALB) is up more than +13% after reporting Q1 net sales of $1.43 billion, above the consensus of $1.34 billion.
Howmet Aerospace (HWM) is up more than +7% after reporting Q1 adjusted EPS of $1.22, above the consensus of $1.11, and raising its full-year adjusted EPS forecast to $4.88-$5.00 from a previous forecast of $4.35-$4.55, stronger than the consensus of $4.63.
Ormat Technologies (ORA) is up more than +6% after reporting Q1 adjusted EPS of $1.30, stronger than the consensus of 92 cents.
MKS Inc. (MKSI) is up more than +6% after reporting Q1 net revenue of $1.08 billion, better than the consensus of $1.04 billion.
DoorDash (DASH) is up more than +3% after reporting Q1 gross order value of $32.4 billion, above the consensus of $31.21 billion.
Zoetis (ZTS) is down more than -21% to lead losers in the S&P 500 after reporting Q1 revenue of $2.26 billion, weaker than the consensus of $2.30 billion.
Insmed (INSM) is down more than -13% to lead losers in the Nasdaq 100 after forecasting full-year product revenue of $1.0 billion, below the consensus of $1.3 billion.
Whirlpool (WHR) is down more than -13% after reporting Q1 net sales of $3.27 billion, weaker than the consensus of $3.42 billion, and cutting its full-year revenue forecast to $15.0 billion from a previous forecast of $15.3-$15.6 billion, below the consensus of $15.21 billion.
US Foods Holding (USFD) is down more than -7% after reporting Q1 net sales of $9.61 billion, below the consensus of $9.66 billion.
ARM Holdings Plc (ARM) is down more than -6% after reporting Q4 royalty revenue of $671 million, below the consensus of $693.3 million.
Coherent Corp (COHR) is down more than -6% after reporting a Q3 adjusted EPS of $1.41, right on expectations.
Earnings Reports(5/7/2026)
Airbnb Inc (ABNB), Akamai Technologies Inc (AKAM), Becton Dickinson & Co (BDX), Block Inc (XYZ), Charles River Laboratories Int (CRL), Coinbase Global Inc (COIN), Consolidated Edison Inc (ED), Corpay Inc (CPAY), Datadog Inc (DDOG), EPAM Systems Inc (EPAM), Evergy Inc (EVRG), Expedia Group Inc (EXPE), Gen Digital Inc (GEN), Gilead Sciences Inc (GILD), Howmet Aerospace Inc (HWM), Kenvue Inc (KVUE), McDonald's Corp (MCD), McKesson Corp (MCK), Mettler-Toledo International Inc (MTD), Microchip Technology Inc (MCHP), Monster Beverage Corp (MNST), Motorola Solutions Inc (MSI), News Corp (NWSA), Republic Services Inc (RSG), Sempra (SRE), Tapestry Inc (TPR), Targa Resources Corp (TRGP), Trade Desk Inc/The (TTD), Viatris Inc (VTRS), Vistra Corp (VST), WW Grainger Inc (GWW), Wynn Resorts Ltd (WYNN), Zoetis Inc (ZTS). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
- S&P 500 and Nasdaq 100 Post Record Highs on Solid Corporate Earnings
May 7, 2026
The S&P 500 Index ($SPX) (SPY) today is down -0.40%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.28%.
Equity markets retreated this afternoon, erasing earlier gains as a resurgence in crude oil prices weighed on sentiment. While the international Brent benchmark saw a slight dip yet remained above $100, U.S. West Texas Intermediate futures surged past the $95-per-barrel mark.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
US weekly initial unemployment claims rose +10,000 to 200,00, showing a stronger labor market than expectations of 205,000. Weekly continuing claims unexpectedly fell -10,000 to a 2.25-year low of 1.766 million, showing a stronger labor market than expectations of an increase to 1.800 million.
US Q1 nonfarm productivity rose +0.8%, stronger than expectations of +0.6%. Q1 unit labor costs rose +2.3%, weaker than expectations of +2.5%
Fed comments today were slightly hawkish and negative for stocks and bonds. Boston Fed President Susan Collins said interest rates should stay at current "mildly restrictive" levels, but “if the inflation trajectory looked like it was significantly moving in the wrong direction," policymakers would "need to reassess what the appropriate policy would be." Also, Cleveland Fed President Beth Hammack said the FOMC's signal that the next rate move will be a cut is misleading, and her baseline is that interest rates will be on hold for a long period.
The markets are awaiting further updates after the US presented a proposal to Iran that would gradually reopen the Strait of Hormuz and lift the US blockade on Iranian ports. Negotiations over Iran's nuclear program would come later in the process. Iran is expected to respond via Pakistan in the next few days.
The markets are discounting a 6% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings results thus far in this reporting season have been supportive of stocks. As of today, 84% of the 411 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 from a 2.5-week high and is down -0.57%. China's Shanghai Composite rallied to a 2-month high and closed up +0.08%. Japan's Nikkei Stock Average soared to a record high, finishing sharply higher by +5.58%.
Interest Rates
June 10-year T-notes (ZNM6) today are up by +4 ticks. The 10-year T-note yield is down -1.1 bp to 4.338%. Jun T-notes climbed to a 1-week high today, and the 10-year T-note yield fell to a 1.5-week low of 4.319%. T-notes have support today from weaker crude prices, which ease inflation expectations. The 10-year breakeven inflation rate fell to a 2-week low of 2.415% today. Also, today’s reports showing Q1 nonfarm productivity was better than expected, and Q1 labor costs were weaker than expected, were supportive of T-notes.
Gains in T-notes are limited due to today’s weekly jobless claims report, which showed strength in the US labor market, a hawkish factor for Fed policy. Also, hawkish Fed comments today weighed on T-note prices after Boston Fed President Susan Collins and Cleveland Fed President Beth Hammack said they favored keeping interest rates on hold.
European government bond yields are moving lower today. The 10-year German Bund yield fell to a 2-week low of 2.957% and is down -1.5 bp to 2.985%. The 10-year UK gilt yield fell to a 2-week low of 4.886% and is down -2.8 bp to 4.912%.
Eurozone Mar retail sales fell -0.1% m/m, a smaller decline than expectations of -0.3% m/m.
German Mar factory orders rose +5.0% m/m, stronger than expectations of +1.0% m/m.
Swaps are discounting a 79% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Datadog (DDOG) is up more than +30% to lead software stocks higher and gainers in the S&P 500 and Nasdaq 100 after reporting Q1 revenue of $1.01 billion, better than the consensus of $957.8 million, and raising its full-year revenue estimate to $4.30 billion to $4.34 billion from a previous estimate of $4.06 billion to $4.10 billion, well above the consensus of $4.09 billion. Also, ServiceNow (NOW) and Workday (WDAY) are up more than +6%, and Atlassian (TEAM) and Intuit (INTU) are up more than +5%. In addition, Autodesk (ADSK) is up by more than +4%, and Salesforce (CRM) is up more than +3% to lead gainers in the Dow Jones industrials. Finally, Microsoft (MSFT), Oracle (ORCL), and Adobe (ADBE) are up more than +2%.
Fortinet (FTNT) is up more than +23% to lead cybersecurity stocks higher after reporting Q1 billings of $2.09 billion, well above the consensus of $1.82 billion, and raising its full-year billings forecast to $8.80 billion to $9.10 billion from a previous forecast of $8.40 billion to $8.60 billion, stronger than the consensus of $8.49 billion. Also, Zscaler (ZS) is up more than +9%, and Palo Alto Networks (PANW) and CrowdStrike Holdings (CRWD) are up more than +7%. In addition, and Okta (OKTA) is up more than +5%, and Cloudflare (NET) is up more than +3%.
Energy producers and service providers are moving lower today with WTI crude oil prices down more than -4%. APA Corp (APA) is down more than -6%, and Baker Hughes (BKR) is down more than -5%. Also, Devon Energy (DVN), Marathon Petroleum (MPC), and Diamondback Energy (FANG) are down more than -4%. In addition, SLB Ltd (SLB), Phillips 66 (PSX), ConocoPhillips (COP), Occidental Petroleum (OXY), Halliburton (HAL), and Valero Energy (VLO) are down more than -3%. Finally, Chevron (CVX) is down more than -2% to lead losers in the Dow Jones industrials, and Exxon Mobil (XOM) is also down more than -2%.
Axon Enterprises (AXON) is up more than +13% after reporting Q1 net sales of $807 million, above the consensus of $779.2 million.
Albemarle (ALB) is up more than +9% after reporting Q1 net sales of $1.43 billion, above the consensus of $1.34 billion.
Ormat Technologies (ORA) is up more than +9% after reporting Q1 adjusted EPS of $1.30, stronger than the consensus of 92 cents.
Howmet Aerospace (HWM) is up more than +8% after reporting Q1 adjusted EPS of $1.22, above the consensus of $1.11, and raising its full-year adjusted EPS forecast to $4.88-$5.00 from a previous forecast of $4.35-$4.55, stronger than the consensus of $4.63.
AppLovin (APP) is up more than +6% after reporting Q1 revenue of $1.84 billion, better than the consensus of $1.77 billion, and forecasting Q2 revenue of $1.92 billion to $1.95 billion, stronger than the consensus of $1.89 billion.
MKS Inc. (MKSI) is up more than +3% after reporting Q1 net revenue of $1.08 billion, better than the consensus of $1.04 billion.
Zoetis (ZTS) is down more than -21% to lead losers in the S&P 500 after reporting Q1 revenue of $2.26 billion, weaker than the consensus of $2.30 billion.
Insmed (INSM) is down more than -17% to lead losers in the Nasdaq 100 after forecasting full-year product revenue of $1.0 billion, below the consensus of $1.3 billion.
Whirlpool (WHR) is down more than -13% after reporting Q1 net sales of $3.27 billion, weaker than the consensus of $3.42 billion, and cutting its full-year revenue forecast to $15.0 billion from a previous forecast of $15.3-$15.6 billion, below the consensus of $15.21 billion.
ARM Holdings Plc (ARM) is down more than -7% after reporting Q4 royalty revenue of $671 million, below the consensus of $693.3 million.
Coherent Corp (COHR) is down more than -5% after reporting a Q3 adjusted EPS of $1.41, right on expectations.
US Foods Holding (USFD) is down more than -4% after reporting Q1 net sales of $9.61 billion, below the consensus of $9.66 billion.
Earnings Reports(5/7/2026)
Airbnb Inc (ABNB), Akamai Technologies Inc (AKAM), Becton Dickinson & Co (BDX), Block Inc (XYZ), Charles River Laboratories Int (CRL), Coinbase Global Inc (COIN), Consolidated Edison Inc (ED), Corpay Inc (CPAY), Datadog Inc (DDOG), EPAM Systems Inc (EPAM), Evergy Inc (EVRG), Expedia Group Inc (EXPE), Gen Digital Inc (GEN), Gilead Sciences Inc (GILD), Howmet Aerospace Inc (HWM), Kenvue Inc (KVUE), McDonald's Corp (MCD), McKesson Corp (MCK), Mettler-Toledo International Inc (MTD), Microchip Technology Inc (MCHP), Monster Beverage Corp (MNST), Motorola Solutions Inc (MSI), News Corp (NWSA), Republic Services Inc (RSG), Sempra (SRE), Tapestry Inc (TPR), Targa Resources Corp (TRGP), Trade Desk Inc/The (TTD), Viatris Inc (VTRS), Vistra Corp (VST), WW Grainger Inc (GWW), Wynn Resorts Ltd (WYNN), Zoetis Inc (ZTS).
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.
