Morning Preview: April 24, 2026

Early Look

Friday, April 24, 2026

U.S. stocks futures are looking mixed as the S&P 500 is flattish, but Nasdaq futures outperform overnight, rising +0.9% or 240 points to 27,180 as Intel (INTC) shares surge 27%, boosting semis across the board after its notable beat and raise quarter as the Phill semi index (SOX) looks to make it another record high and an astounding 18th straight day of gains, up 32.8% in April and 42% YTD. At the same time, oil prices hold strong, trying for a 5th straight day of gains as uncertainty over talks between the US and Iran threatened to further delay flows from the Persian Gulf. Brent was near $105 a barrel, headed for a weekly gain of about 17%, while West Texas Intermediate traded around $96. Treasury yields have also climbed all week, with the 10-year yield at 4.34%, ahead of next week’s FOMC meeting. Speaking of the Fed, the week ahead is a central bank heavy, with nine policy decisions spanning the BoJ, Fed, ECB, BoC, Norges Bank, Riksbank, BCB and Banxico, against a backdrop of still live Middle East risk. Also, the heaviest week of earnings this quarter by market cap is coming up with results from AAPL, AMZN, META, GOOGL, and MSFT next week as well. In Asian markets, The Nikkei Index jumped 575 points to 59,716, the Shanghai Index fell -13 points to 4,079, and the Hang Seng Index gained 62 points to 25,978. In Europe, the German DAX is down -73 points to 24,082, while the FTSE 100 is down -65 points to 10,391.

• The Dow Jones Industrial Average fell -179.71 points, or 0.36%, to 49,310.23
• The Nasdaq Composite dropped -219.06 points, or 0.89%, to 24,438.50
• The Russell 2000 Index declined -10.28 points, or 0.37% to 2,775.10

• 10:00 AM ET                University of Michigan 1-yr and 5-yr inflation expectations
• 1:00 PM ET                   Baker Hughes Weekly rig count data

• Chinese regulators plan to restrict technology firms including some of the country’s highest-profile AI pioneers from accepting US capital without government approval, part of Beijing’s broader response to Meta Platforms Inc.’s controversial acquisition of startup Manus – Bloomberg.
• Japanese March CPI 1.5% y/y vs 1.4% consensus; March CPI ex-fresh food 1.8% y/y vs 1.7% consensus and March CPI ex-fresh food & energy: 2.4% y/y in-line.

• Comfort Systems (FIX) Q1 EPS $10.51 vs est $6.80 on revs $2.865B vs est $2.384B; EBIT $485.718Mm vs est $312.8Mm.
• Coursera (COUR) Q1 EPS ($0.12) vs est $0.08 on revs $195.7Mm vs est $195.1Mm; guides Q2 revs $196-200Mm and adj EBITDA $12-16Mm; reaffirms FY revs $805-815Mm vs est $812.68Mm and adj EBITDA $70-76Mm with adj EBITDA mgn approx 9.0% at midpoint.
• Gaming and Leisure Properties (GLPI) Q1 AFFO/shr $1.02, EPS $0.82 vs est $0.82 on revs $420Mm vs est $417.3Mm; guides FY AFFO/shr $4.08-4.12 vs prior $4.06-4.11.
• Tesla (TSLA) CEO Elon Musk said the electric vehicle maker plans to use Intel’s (INTC) Onext-generation 14A manufacturing process to make chips at its Terafab project, an advanced artificial-intelligence chip complex Musk has envisioned in Texas.
• President Trump suggested the U.S. government could take over Spirit Airlines (FLYYQ), the Wall Street Journal reported. “We’re thinking about doing it, helping them out, meaning bailing them out, or buying it. I think we’d just buy it,” Trump said, speaking from the Oval Office.

• World Kinect (WKC) Q1 adj EPS $0.75 vs est $0.31 on revs $9.685B vs est $8.71B; guides FY adj EPS $2.65-2.85 vs est $2.18 and prior $2.20-2.40.

• Enova International (ENVA) Q1 adj EPS $3.87 vs. est. $3.68; Q1 revs $875M vs. est. $851.7M; credit performance remained strong with a lower net charge-off ratio compared to a year ago of 7.6% and net rev margin of 60%; Originations rose 33% and total company revenue increased 17% y/y.
• Hartford Financial (HIG) Q1 adj EPS $3.09 vs est $3.40 on revs $7.23B vs est $7.35B, BV/shr $66.58; core earnings ROE 20.3%; P&C premiums written +4% yr/yr.
• Kinsale Capital (KNSL) Q1 EPS $4.88 vs est $4.69 on revs $466.7Mm vs est $470.82Mm, gross premiums written $482.018Mm; combined ratio 77.4%, expense ratio 21.1%, ROE 24%.
• OceanFirst Financial (OCFC) Q1 adj EPS $0.43 vs est $0.40 on NII $96.4Mm, NIM 2.93%.
• Principal Finance Group (PFG) Q1 EPS $2.17 vs. consensus $2.01; raises quarterly dividend to $0.82 per share from $0.80; Q1 Assets under management (AUM) of $770 billion, which is included in assets under administration (AUA) of $1.8 trillion Strong financial position with $1.45 billion of excess and available capital; Q1 Investment Management gross sales of $37B increased 21% and Life premium and fees increased 15%.
• Robert Half (RHI) Q1 EPS $0.14 vs est $0.13 on revs $1.3B vs est $1.303B; says revenue trends strengthened as quarter progressed and into early April.
• SLM Corp. (SLM) Q1 EPS $1.54 vs. est. $1.22; Q1 private education loan originations of $2.9B, 5% growth y/y; raises FY26 EPS view to $3.10-$3.20 from $2.70-$2.80 vs. est. $2.78

• Arrowhead Pharmaceuticals (ARWR) receives positive CHMP opinion recommending approval of Redemplo to reduce triglycerides in adults with familial chylomicronemia syndrome in Europe.
• Bristol Myers (BMY): Patients who use the blockbuster blood thinner Eliquis will be able to get it at a discount starting next week. Mark Cuban’s online pharmacy will be selling it for $345 a month, a roughly 40% discount from the list price – Bloomberg.
• Chemed (CHE) Q1 adj EPS $5.65, vs. consensus $5.30 and revs $657.5M vs. est. $649.82M; as of March 31, Chemed had total cash and cash equivalents of $16.9M and $91.2M in long-term debt; raises FY26 adjusted EPS view to $24.00-$24.75 from $23.25-$24.25 vs. est. $23.88; Estimated adjusted EBITDA margin is lowered slightly to 21.5% to 22.5% compared to the original guidance range of 22.5% to 23.0%
• Edwards Lifesciences (EW) Q1 revs rose 16.7% y/y to $1.64B vs. est. $1.59B; Q1 adj EPS $0.78 vs. est. $0.73; sees Q2 EPS $0.70-$0.76 vs. est. $0.75 and sales $1.66B-$1.74B vs. est. $1.684B; Q1 TAVR sales grew 14.4% to $1.20B; constant currency sales grew 11.0%; Renewed clinical focus on proactive disease management with differentiated SAPIEN TAVR

• Newmont Mining (NEM) Q1 adj EPS $2.90 vs. est. $2.22; Q1 revs $7.31B vs. est. $6.79B; authorizes additional $6.0 bln share repurchase program; says on track to meet Newmont’s FY 2026 production guidance of 5.3M attributable gold ounces; qtrly attributable gold production 1.30 oz; working to offset costs from Ghana operations through ongoing global cost and productivity initiatives.

• SAP Inc. (SAP) Q1 adj. EPS $2.01; Q1 adj Ebit EU2.87B vs. est. EU2.72B; Q1 sales: $11.189B; Q1: Cloud revenue up 19% and up 27% at constant currencies; Q1 Non-IFRS Cloud Revs EU5.96B vs. est EU5.90B and Q1 Non-IFRS Cloud/Software revs EU 8.55B vs. est EU8.47B.
• AppFolio (APPF) Q1 EPS $1.61 tops consensus $1.47 on revs $262.21M vs. est. $258.07M; Q1 total units under management grew 8% y/y to 9.5M; guides FY revs $1.11B-$1.125B vs. est. $1.11B; Raises FY26 operating margin view to 26%-28% from 25.5%-27.5%.
• Digital Realty (DLR) Q1 FFO/SHR $1.99 on revs $1.64B vs est $1.6B, EPS $0.46 vs est $0.47.
• Knowles (KN) Q1 adj EPS $0.27 vs est $0.14 on revs $153.1Mm vs est $147.4Mm; guides Q2 revs $152-162Mm and adj EPS $0.28-0.32.
• MaxLinear Inc (MXL) Q1 adj EPS $0.22 vs est $0.18 on revs $137.188Mm vs est $135Mm, adj gr mgn 59.5%, adj EBIT mgn 16%.
• SS&C Technologies (SSNC) Q1 adj EPS $1.69 vs. est. $1.65; Q1 revs $1.65B vs. est. $1.63B; sees FY26 adjusted EPS $6.74-$7.06, vs. consensus $6.83 and sees FY26 adjusted revenue $6.664B-$6.824B vs. est. $6.72B; Q1 2026 Adjusted Organic Revenue Growth was 5.0%
• Spire Global Inc (SPIR) selling stockholders may resell up to 5M shares of class a common stock.
• VeriSign (VRSN) Q1 EPS $2.34 vs. est. $2.25 on revs +6.6% y/y to $428.9M vs. est. $425.9M; to raise annual wholesale fee for .com domains to $10.97 effective Nov. 1, 2026; said .com and .net domain name registrations rose 3.7% yr/yr, with a net increase of 2.54 mln domains in Q1; processed 11.5 mln new .com and .net domain registrations in Q1, up from 10.1 mln a year earlier